OFS
OFS Capital
Portfolio Fair Value
$409.66M
103 holdings
Avg Spread
+6.28%
FV-weighted, debt
Avg Coupon
12.16%
FV-weighted
% First Lien
46.3%
of debt FV
Unrealized P/L
+$46.11M
+12.68% of cost
Non-Accrual
8
text-detected
Balance sheet
Assets$428.12M
Liabilities + Equity$428.12M
First Lien
$189.87M · 44.3%
First Lien
$189.87M · 44.3%
Second Lien
$34.33M · 8.0%
Subordinated
$76.87M · 18.0%
Subordinated
$76.87M · 18.0%
Equity
$108.59M · 25.4%
Equity
$108.59M · 25.4%
Cash & Equivalents
$6.07M · 1.4%
Other Assets
$12.39M · 2.9%
Debt (Borrowings)
$246.66M · 57.6%
Debt (Borrowings)
$246.66M · 57.6%
Other Liabilities
$9.24M · 2.2%
Net Assets (Equity)
$172.22M · 40.2%
Net Assets (Equity)
$172.22M · 40.2%
Industry Composition
Pharmaceutical Preparation Manufacturing
21.8%
Structured Finance Securities
17.3%
Services for the Elderly and Persons with Disabilities
6.3%
Other Computer Related Services
4.2%
Sports and Recreation Instruction
4.1%
Other Ambulatory Health Care Services
4.1%
Motorcycle, Bicycle, and Parts Manufacturing
3.8%
Office Machinery and Equipment Rental and Leasing
3.0%
Offices of Other Holding Companies
3.0%
Software Publishers
2.7%
Offices of Physicians, Mental Health Specialists
2.3%
Electrical Contractors and Other Wiring Installation Contractors
2.2%
Other industries
25.3%
Spread Distribution
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
10.0%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
103 of 104
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Pfanstiehl Holdings, Inc. | Pharmaceutical Preparation Manufacturing | Common Equity | $89.30M | $217.0K | $89.08M | — | — | — |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt | $16.72M | $17.53M | -$813.0K | 8.73% | +4.25% | 2026-12-20 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt | $14.78M | $14.66M | $126.0K | 11.47% | +7.00% | 2026-10-01 |
Tolemar Acquisition, INC. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt | $14.46M | $15.25M | -$788.0K | 10.46% | +6.00% | 2026-10-14 |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt #1 | $12.40M | $12.40M | $0.00 | 10.35% | +6.00% | 2029-12-20 |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Preferred Equity | $11.89M | $8.41M | $3.48M | — | — | — |
Canyon CLO 2019-1, Ltd. | Structured Finance Securities | Subordinated Notes | $10.30M | $9.49M | $804.0K | 23.97% | — | 2037-07-15 |
ICG US CLO 2021-3 Ltd | Structured Finance Securities | Subordinated Notes | $9.73M | $8.08M | $1.65M | 30.03% | — | 2034-10-20 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt | $9.56M | $9.57M | -$8.0K | 10.96% | +6.50% | 2027-02-25 |
24 Seven Holdco, LLC | Temporary Help Services | First Lien Debt | $8.73M | $8.70M | $32.0K | 10.50% | +6.00% | 2027-11-16 |
Heritage Grocers Group, LLC. (F/K/A Tony's Fresh Market / Cardenas Markets) | Supermarkets and Other Grocery (except Convenience) Stores | First Lien Debt | $8.59M | $8.81M | -$222.0K | 11.18% | +6.75% | 2029-08-01 |
Apex Credit CLO 2020 Ltd. | Structured Finance Securities | Subordinated Notes | $7.72M | $9.39M | -$1.67M | 18.21% | — | 2035-04-20 |
Planet Bingo, LLC (F/K/A 3rd Rock Gaming Holdings, LLC) | Software Publishers | First Lien Debt | $7.16M | $14.11M | -$6.95M | 6.50% | — | 2026-12-31 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #1 | $7.14M | $7.32M | -$177.0K | 11.21% | +6.75% | 2025-12-22 |
SSJA Bariatric Management LLC | Offices of Physicians, Mental Health Specialists | First Lien Debt #1 | $6.62M | $9.56M | -$2.94M | 9.73% | +5.25% | 2025-04-30 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #1 | $6.40M | $6.34M | $59.0K | 10.23% | +5.75% | 2027-10-15 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | First Lien Debt | $6.23M | $6.23M | $0.00 | 7.50% | — | 2025-12-31 |
Apex Credit CLO 2022-1 Ltd. | Structured Finance Securities | Subordinated Notes | $6.21M | $8.60M | -$2.38M | 13.26% | — | 2033-04-22 |
Convergint Technologies Holdings, LLC | Security Systems Services (except Locksmiths) | Second Lien Debt | $5.94M | $5.88M | $60.0K | 11.22% | +6.75% | 2029-03-30 |
Battalion CLO XI Ltd. | Structured Finance Securities | Mezzanine Debt - Class E | $5.66M | $5.98M | -$322.0K | 11.75% | +6.85% | 2034-04-24 |
Apex Credit CLO 2021 Ltd. | Structured Finance Securities | Subordinated Notes | $5.28M | $6.40M | -$1.12M | 18.66% | — | 2034-07-18 |
Excelin Home Health, LLC | Home Health Care Services | Second Lien Debt | $4.91M | $5.89M | -$978.0K | 18.00% | — | 2026-10-01 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #1 | $4.64M | $4.92M | -$280.0K | 13.09% | +8.50% | 2028-06-11 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #3 | $4.50M | $4.47M | $34.0K | 10.23% | +5.75% | 2027-10-15 |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt #2 | $4.48M | $4.48M | $0.00 | 10.35% | +6.00% | 2029-12-20 |
Brightwood Capital MM CLO 2023-1, Ltd. | Structured Finance Securities | Subordinated Notes | $4.46M | $4.96M | -$499.0K | 11.91% | — | 2035-10-15 |
Wellful Inc. (F/K/A KNS Acquisition Corp.) | Electronic Shopping and Mail-Order Houses | First Lien Debt #2 | $4.35M | $4.35M | $0.00 | 10.72% | +6.25% | 2030-10-19 |
TruGreen Limited | — | Partnership, Second Lien Debt | $4.29M | $4.57M | -$280.0K | 13.35% | +8.50% | 2028-11-02 |
BlueMountain CLO XXXV Ltd. | Structured Finance Securities | Subordinated Notes | $4.22M | $4.27M | -$53.0K | 15.30% | — | 2037-10-22 |
Madison Park Funding XXIII, Ltd. | Structured Finance Securities | Subordinated Notes | $4.14M | $4.56M | -$419.0K | 12.68% | — | 2047-07-27 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #2 | $4.05M | $4.00M | $43.0K | 10.23% | +5.75% | 2027-10-15 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #2 | $3.76M | $3.86M | -$93.0K | 11.21% | +6.75% | 2025-12-22 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #2 | $3.73M | $3.96M | -$224.0K | 13.12% | +8.50% | 2028-06-11 |
Madison Park Funding XXIX, Ltd. | Structured Finance Securities | Subordinated Notes | $3.60M | $4.87M | -$1.26M | 6.34% | — | 2047-10-18 |
BCPE North Star US Holdco 2, Inc. (F/K/A Dessert Holdings) | Ice Cream and Frozen Dessert Manufacturing | Second Lien Debt | $3.55M | $3.41M | $139.0K | 11.72% | +7.25% | 2029-06-08 |
First Brands Group, LLC | Other Motor Vehicle Parts Manufacturing | First Lien Debt #1 | $3.15M | $3.30M | -$152.0K | 9.85% | +5.00% | 2027-03-30 |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt | $3.12M | $3.10M | $27.0K | 11.23% | +6.75% | 2027-12-30 |
LCM 42 Ltd. | Structured Finance Securities | Subordinated Notes | $2.99M | $2.99M | $0.00 | 16.91% | — | 2038-01-15 |
Wellful Inc. (F/K/A KNS Acquisition Corp.) | Electronic Shopping and Mail-Order Houses | First Lien Debt #1 | $2.84M | $2.84M | $0.00 | 9.48% | +5.00% | 2030-04-19 |
Venture 45 CLO, Limited. | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Mezzanine Debt - Class E | $2.74M | $2.95M | -$213.0K | 12.32% | +7.70% | 2035-07-20 |
Idera Inc. | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $2.68M | $2.68M | $0.00 | 11.47% | +6.75% | 2029-03-02 |
Allen Media, LLC | Cable and Other Subscription Programming | First Lien Debt | $2.60M | $3.69M | -$1.09M | 9.98% | +5.50% | 2027-02-10 |
Metasource, LLC | All Other Business Support Services | First Lien Debt | $2.59M | $2.71M | -$115.0K | 10.84% | +6.25% | 2027-05-17 |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $2.56M | $4.42M | -$1.85M | 12.60% | +7.75% | 2029-04-27 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #1 | $2.48M | $2.55M | -$73.0K | 12.10% | +8.75% | 2026-08-31 |
Staples, Inc. | Business to Business Electronic Markets | First Lien Debt | $2.46M | $2.47M | -$15.0K | 10.18% | +5.75% | 2029-09-04 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt (Revolver) | $2.34M | $2.34M | $0.00 | 11.74% | +7.00% | 2026-10-01 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt | $2.23M | $2.17M | $67.0K | 10.44% | +6.00% | 2029-10-20 |
Associated Spring, LLC | Spring Manufacturing | First Lien Debt | $2.23M | $2.23M | $0.00 | 10.33% | +5.75% | 2030-04-04 |
Dryden 76 CLO, Ltd. | Structured Finance Securities | Subordinated Notes | $2.21M | $3.13M | -$921.0K | 10.31% | — | 2037-10-15 |
Brightwood Capital MM CLO 2023-1, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E | $2.18M | $1.97M | $212.0K | 15.02% | +10.36% | 2035-10-15 |
JP Intermediate B, LLC | Drugs and Druggists' Sundries Merchant Wholesalers | First Lien Debt | $2.10M | $4.49M | -$2.39M | 14.00% | +6.50% | 2027-11-20 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | Second Lien Debt | $2.02M | $6.58M | -$4.57M | — | — | 2026-12-31 |
Ivanti Software, Inc. | Software Publishers | First Lien Debt | $2.01M | $2.91M | -$894.0K | 9.12% | +4.25% | 2027-12-01 |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #1 | $1.96M | $1.94M | $25.0K | 9.59% | +5.25% | 2027-07-22 |
Creation Technologies Inc. | Bare Printed Circuit Board Manufacturing | First Lien Debt | $1.92M | $1.94M | -$27.0K | 10.35% | +5.50% | 2028-10-05 |
East West Manufacturing LLC | Fluid Power Pump and Motor Manufacturing | First Lien Debt | $1.91M | $1.90M | $11.0K | 10.11% | +5.75% | 2028-12-22 |
RPLF Holdings, LLC | Software Publishers | Common Equity | $1.83M | — | — | — | — | — |
SSJA Bariatric Management LLC | Offices of Physicians, Mental Health Specialists | First Lien Debt #3 | $1.80M | $2.60M | -$797.0K | 9.73% | +5.25% | 2025-04-30 |
THL Credit Wind River 2019‐3 CLO Ltd. | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Subordinated Notes | $1.62M | $3.92M | -$2.31M | 0.00% | — | 2031-04-15 |
Signal Parent, Inc. | New Single-Family Housing Construction (except For-Sale Builders) | First Lien Debt | $1.60M | $1.78M | -$171.0K | 7.96% | +3.50% | 2028-04-03 |
TalentSmart Holdings, LLC | Professional and Management Development Training | Common Equity | $1.60M | $1.59M | $9.0K | — | — | — |
First Brands Group, LLC | Other Motor Vehicle Parts Manufacturing | First Lien Debt #2 | $1.53M | $1.61M | -$81.0K | 9.85% | +5.00% | 2027-03-30 |
Avison Young Inc. | Nonresidential Property Managers | First Lien Debt | $1.41M | $1.56M | -$159.0K | 6.15% | +8.00% | 2029-03-12 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt (Revolver) | $1.40M | $1.44M | -$34.0K | 11.25% | +6.75% | 2025-12-22 |
Octagon Investment Partners 39, Ltd. | Structured Finance Securities | Subordinated Notes | $1.23M | $3.00M | -$1.76M | 0.00% | — | 2030-10-20 |
PM Acquisition LLC | All Other General Merchandise Stores | Common Equity | $1.20M | $499.0K | $697.0K | — | — | — |
DRS Imaging Services, LLC | Data Processing, Hosting, and Related Services | Common Equity | $1.19M | $1.14M | $55.0K | — | — | — |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | First Lien Debt | $1.04M | $1.71M | -$671.0K | 9.60% | +4.75% | 2028-04-27 |
Monroe Capital MML CLO X, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E-R | $1.00M | $978.0K | $22.0K | 13.27% | +8.75% | 2034-05-20 |
Park Avenue Institutional Advisers CLO Ltd | Park Avenue Institutional Advisers CLO Ltd 2021-1 | 2021-1, Mezzanine Debt - Class D | $998.0K | $986.0K | $12.0K | 12.18% | +7.30% | 2034-01-20 |
Tolemar Acquisition, INC. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt (Revolver) | $944.0K | $1.02M | -$80.0K | 10.55% | +6.00% | 2026-10-14 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | First Lien Debt (Revolver) | $899.0K | $899.0K | $0.00 | 7.50% | — | 2025-12-31 |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #1 | $855.0K | $936.0K | -$81.0K | 9.30% | +4.75% | 2028-04-28 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #2 | $747.0K | $778.0K | -$31.0K | 12.10% | +8.75% | 2026-08-31 |
SSJA Bariatric Management LLC | Offices of Physicians, Mental Health Specialists | First Lien Debt #2 | $716.0K | $1.03M | -$317.0K | 9.73% | +5.25% | 2025-04-30 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Common Equity | $679.0K | $1.29M | -$611.0K | — | — | — |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #2 | $594.0K | $1.29M | -$698.0K | 9.30% | +4.75% | 2028-04-28 |
Trinitas CLO VIII, Ltd. | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Subordinated Notes | $582.0K | $2.46M | -$1.88M | 0.00% | — | — |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Common Equity | $441.0K | $104.0K | $337.0K | — | — | — |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Preferred Equity | $358.0K | $345.0K | $13.0K | — | — | — |
Avison Young Inc. | Nonresidential Property Managers | First Lien Debt #2 | $197.0K | $474.0K | -$277.0K | 6.15% | +8.00% | 2029-03-12 |
SSJA Bariatric Management LLC | Offices of Physicians, Mental Health Specialists | First Lien Debt (Revolver) | $185.0K | $266.0K | -$81.0K | 9.73% | +5.25% | 2025-04-30 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | $95.0K | $88.0K | $7.0K | 12.25% | +4.75% | 2027-10-15 |
Constellis Holdings, LLC | Other Justice, Public Order, and Safety Activities | Common Equity | $61.0K | $703.0K | -$642.0K | — | — | — |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #2 | $46.0K | $45.0K | $1.0K | 9.61% | +5.25% | 2027-07-22 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | Warrants | $34.0K | $200.0K | -$166.0K | — | — | — |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt (Delayed Draw) | $4.0K | -$1.0K | $5.0K | — | +6.00% | 2029-10-20 |
Sentry Centers Holdings, LLC | Other Professional, Scientific, and Technical Services | Preferred Equity | $1.0K | $160.0K | -$159.0K | — | — | — |
Avison Young Inc. | Nonresidential Property Managers | Common Equity | $0.00 | $1.40M | -$1.40M | — | — | — |
Avison Young Inc. | Nonresidential Property Managers | Preferred Equity | $0.00 | $1.27M | -$1.27M | — | — | — |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | Equity Participation Rights | $0.00 | $4.72M | -$4.72M | — | — | — |
GGC Aerospace Topco L.P. | Other Aircraft Parts and Auxiliary Equipment Manufacturing | Common Equity (Class A units) | $0.00 | $450.0K | -$450.0K | — | — | — |
GGC Aerospace Topco L.P. | Other Aircraft Parts and Auxiliary Equipment Manufacturing | Common Equity (Class B units) | $0.00 | $50.0K | -$50.0K | — | — | — |
United Biologics Holdings, LLC | Medical Laboratories | Preferred Equity | $0.00 | $9.0K | -$9.0K | — | — | — |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt (Revolver) | -$4.0K | -$6.0K | $2.0K | — | +6.75% | 2027-12-30 |
Associated Spring, LLC | Spring Manufacturing | First Lien Debt (Delayed Draw) | -$9.0K | -$9.0K | $0.00 | — | +5.75% | 2030-04-04 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | -$9.0K | -$7.0K | -$2.0K | — | +6.50% | 2027-02-25 |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt (Revolver) | -$9.0K | -$9.0K | $0.00 | — | +6.00% | 2029-12-20 |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt (Revolver) | -$66.0K | -$4.0K | -$62.0K | — | +6.25% | 2026-12-20 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Delayed Draw) | — | -$22.0K | — | — | +5.75% | 2026-10-15 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt (Revolver) | — | -$6.0K | — | — | +6.00% | 2029-10-20 |
SSJA Bariatric Management LLC | Offices of Physicians, Mental Health Specialists | Common Equity | — | — | — | — | — | — |
Disclosed holdings FV
$409.67M
Parsed holdings FV
$409.66M
Residual gap
$1.0K
Balance-sheet cash
$6.07M
CIK
0001487918
Accession
0001487918-25-000009
Form type
10-K
Period
2024-12-31