OFS
OFS Capital
Portfolio Fair Value
$394.73M
107 holdings
Avg Spread
+6.23%
FV-weighted, debt
Avg Coupon
12.44%
FV-weighted
% First Lien
48.0%
of debt FV
Unrealized P/L
+$22.13M
+5.94% of cost
Non-Accrual
9
text-detected
Balance sheet
Assets$418.54M
Liabilities + Equity$418.54M
First Lien
$189.52M · 45.3%
First Lien
$189.52M · 45.3%
Second Lien
$41.57M · 9.9%
Subordinated
$73.83M · 17.6%
Subordinated
$73.83M · 17.6%
Equity
$89.82M · 21.5%
Equity
$89.82M · 21.5%
Cash & Equivalents
$20.28M · 4.8%
Other Assets
$3.53M · 0.8%
Debt (Borrowings)
$249.10M · 59.5%
Debt (Borrowings)
$249.10M · 59.5%
Other Liabilities
$18.13M · 4.3%
Net Assets (Equity)
$151.31M · 36.2%
Net Assets (Equity)
$151.31M · 36.2%
Industry Composition
Pharmaceutical Preparation Manufacturing
18.7%
Structured Finance Securities
16.4%
Services for the Elderly and Persons with Disabilities
6.3%
Other Computer Related Services
4.3%
Other Ambulatory Health Care Services
4.1%
Motorcycle, Bicycle, and Parts Manufacturing
3.9%
Offices of Other Holding Companies
3.1%
Software Publishers
2.6%
Electrical Contractors and Other Wiring Installation Contractors
2.5%
Supermarkets and Other Grocery (except Convenience) Stores
2.5%
Offices of Physicians and Mental Health Specialists
2.4%
Office Machinery and Equipment Rental and Leasing
2.4%
Other industries
30.7%
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
107 of 110
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Pfanstiehl Holdings, Inc. | Pharmaceutical Preparation Manufacturing | Common Equity | $73.67M | $217.0K | $73.45M | — | — | — |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt | $16.16M | $17.41M | -$1.25M | — | +4.25% | 2026-12-20 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt | $14.75M | $14.68M | $70.0K | — | +7.00% | 2026-10-01 |
Tolemar Acquisition, Inc. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt | $14.54M | $15.24M | -$703.0K | — | +6.00% | 2026-10-14 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt | $9.80M | $9.79M | $9.0K | 11.45% | +6.50% | 2027-02-25 |
Heritage Grocers Group, LLC. (F/K/A Tony's Fresh Market / Cardenas Markets) | Supermarkets and Other Grocery (except Convenience) Stores | First Lien Debt | $9.76M | $9.65M | $109.0K | 11.45% | +6.75% | 2029-08-01 |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Preferred Equity | $9.65M | $8.12M | $1.53M | — | — | — |
Canyon CLO 2019-1 Ltd | Structured Finance Securities | Subordinated Notes | $9.56M | $9.33M | $231.0K | 20.29% | — | 2037-07-15 |
24 Seven Holdco, LLC | Temporary Help Services | First Lien Debt | $8.49M | $8.72M | -$230.0K | 11.21% | +6.00% | 2027-11-16 |
ICG US CLO 2021-3 Ltd | Structured Finance Securities | Subordinated Notes | $8.47M | $8.32M | $147.0K | 28.39% | — | 2034-10-20 |
Apex Credit CLO 2020 Ltd. | Structured Finance Securities | Subordinated Notes | $8.03M | $9.87M | -$1.84M | 17.92% | — | 2031-10-20 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #1 | $7.16M | $7.33M | -$168.0K | 11.70% | +6.75% | 2025-12-22 |
Nielsen Consumer Inc | Marketing Research and Public Opinion Polling | First Lien Debt | $6.99M | $6.96M | $23.0K | 9.34% | +4.75% | 2028-03-06 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #1 | $6.87M | $9.56M | -$2.70M | — | +5.25% | 2025-04-30 |
Apex Credit CLO 2022-1 Ltd | Structured Finance Securities | Subordinated Notes | $6.59M | $8.90M | -$2.30M | 13.10% | — | 2033-04-22 |
Asurion, LLC | Communication Equipment Repair and Maintenance | Second Lien Debt | $6.59M | $6.58M | $10.0K | 10.21% | +5.25% | 2028-01-31 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #1 | $6.42M | $6.35M | $65.0K | 10.50% | +5.75% | 2027-10-15 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | First Lien Debt | $6.26M | $6.26M | $0.00 | 7.50% | — | 2025-12-31 |
Planet Bingo, LLC (F/K/A 3rd Rock Gaming Holdings, LLC) | Software Publishers | First Lien Debt | $6.21M | $14.11M | -$7.90M | 6.50% | — | 2025-12-31 |
Convergint Technologies Holdings, LLC | Security Systems Services (except Locksmiths) | Second Lien Debt | $5.60M | $5.87M | -$273.0K | 11.71% | +6.75% | 2029-03-30 |
Battalion CLO XI, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E | $5.59M | $5.96M | -$371.0K | 12.39% | +6.85% | 2034-04-24 |
Apex Credit CLO 2021 Ltd | Structured Finance Securities | Subordinated Notes | $5.47M | $6.55M | -$1.07M | 20.93% | — | 2034-07-18 |
Madison Park Funding XXIII, Ltd. | Structured Finance Securities | Subordinated Notes | $4.61M | $4.77M | -$165.0K | 12.97% | — | 2047-07-27 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #1 | $4.58M | $4.92M | -$343.0K | 13.37% | +8.50% | 2028-06-11 |
Excelin Home Health, LLC | Home Health Care Services | Second Lien Debt | $4.48M | $5.60M | -$1.12M | — | — | 2025-12-31 |
Brightwood Capital MM CLO 2023-1A, Ltd. | Structured Finance Securities | Subordinated Notes | $4.47M | $4.95M | -$479.0K | 13.26% | — | 2035-10-15 |
TruGreen Limited | — | Partnership, Second Lien Debt | $4.33M | $4.58M | -$243.0K | 14.01% | +8.50% | 2028-11-02 |
Madison Park Funding XXIX, Ltd. | Structured Finance Securities | Subordinated Notes | $4.12M | $5.13M | -$1.01M | 8.09% | — | 2047-10-18 |
Wellful Inc. (F/K/A KNS Acquisition Corp.) | Electronic Shopping and Mail-Order Houses | First Lien Debt | $4.07M | $6.46M | -$2.38M | 11.21% | +6.25% | 2027-04-21 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #2 | $4.06M | $4.01M | $48.0K | 10.50% | +5.75% | 2027-10-15 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #2 | $3.77M | $3.86M | -$87.0K | 11.70% | +6.75% | 2025-12-22 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | Second Lien Debt #2 | $3.68M | $3.96M | -$274.0K | 13.37% | +8.50% | 2028-06-11 |
BCPE North Star US Holdco 2, Inc. (F/K/A Dessert Holdings) | Ice Cream and Frozen Dessert Manufacturing | Second Lien Debt | $3.44M | $3.39M | $51.0K | 12.21% | +7.25% | 2029-06-08 |
Flow Service Partners Management, LLC | Plumbing, Heating & Air-Conditioning Contractor | First Lien Debt #1 | $3.39M | $3.44M | -$56.0K | 11.25% | +6.50% | 2029-02-28 |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $3.39M | $4.41M | -$1.03M | 13.26% | +7.75% | 2029-04-27 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Delayed Draw) | $3.35M | $3.32M | $26.0K | 10.50% | +5.75% | 2027-10-15 |
First Brands Group, LLC | Other Motor Vehicle Parts Manufacturing | First Lien Debt #1 | $3.33M | $3.31M | $16.0K | 10.51% | +5.00% | 2027-03-30 |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt | $3.14M | $3.10M | $40.0K | 11.50% | +6.75% | 2027-12-30 |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt #1 | $3.04M | $3.03M | $14.0K | 12.31% | +6.72% | 2026-12-30 |
Regatta XXII Funding Ltd | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Mezzanine Debt - Class E | $3.01M | $2.98M | $34.0K | 12.47% | +7.19% | 2035-07-20 |
Tenneco Inc | Other Motor Vehicle Parts Manufacturing | First Lien Debt | $2.86M | $2.88M | -$26.0K | 10.23% | +5.00% | 2028-11-17 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | Second Lien Debt | $2.77M | $6.58M | -$3.81M | — | — | 2026-12-31 |
Idera Inc. | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $2.68M | $2.68M | $0.00 | 12.15% | +6.75% | 2029-03-02 |
Venture 45 CLO Ltd. | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Mezzanine Debt - Class E | $2.66M | $2.95M | -$288.0K | 12.98% | +7.70% | 2035-07-20 |
Metasource, LLC | All Other Business Support Services | First Lien Debt | $2.63M | $2.72M | -$90.0K | — | +6.25% | 2027-05-17 |
Ivanti Software, Inc. | Software Publishers | First Lien Debt | $2.48M | $2.92M | -$435.0K | 9.83% | +4.25% | 2027-12-01 |
Allen Media, LLC | Cable and Other Subscription Programming | First Lien Debt | $2.42M | $3.70M | -$1.27M | 10.25% | +5.50% | 2027-02-10 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #1 | $2.41M | $2.53M | -$115.0K | — | +8.75% | 2026-08-31 |
JP Intermediate B, LLC | Drugs and Druggists' Sundries Merchant Wholesalers | First Lien Debt | $2.39M | $4.49M | -$2.10M | 11.01% | +5.50% | 2027-11-20 |
Dryden 76 CLO, Ltd. | Structured Finance Securities | Subordinated Notes | $2.38M | $3.20M | -$819.0K | 11.65% | — | 2034-10-20 |
Staples, Inc. | Business to Business Electronic Markets | First Lien Debt | $2.34M | $2.47M | -$131.0K | 10.69% | +5.75% | 2029-09-04 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt (Revolver) | $2.33M | $2.34M | -$12.0K | — | +7.00% | 2026-10-01 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt | $2.24M | $2.17M | $68.0K | 11.32% | +6.00% | 2029-10-20 |
Brightwood Capital MM CLO 2023-1A, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E | $2.18M | $1.96M | $228.0K | 15.66% | +10.36% | 2035-10-15 |
Advantage Sales & Marketing Inc. (F/K/A Karman Buyer Corp) | Advertising Agencies | First Lien Debt | $2.18M | $2.22M | -$41.0K | 9.83% | +4.25% | 2027-10-28 |
Blackhawk Network Holdings, Inc | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | First Lien Debt | $2.01M | $2.02M | -$4.0K | 9.59% | +5.00% | 2029-03-12 |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #1 | $1.96M | $1.94M | $24.0K | 10.53% | +5.25% | 2027-07-22 |
East West Manufacturing | Fluid Power Pump and Motor Manufacturing | First Lien Debt | $1.92M | $1.90M | $12.0K | 11.00% | +5.75% | 2028-12-22 |
Creation Technologies | Bare Printed Circuit Board Manufacturing | First Lien Debt | $1.88M | $1.95M | -$71.0K | 11.08% | +5.50% | 2028-10-05 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #3 | $1.87M | $2.60M | -$731.0K | — | +5.25% | 2025-04-30 |
THL Credit Wind River 2019‐3 CLO Ltd | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Subordinated Notes | $1.78M | $4.16M | -$2.38M | 0.46% | — | 2031-04-15 |
RPLF Holdings, LLC | Software Publishers | Common Equity | $1.72M | — | — | — | — | — |
First Brands Group, LLC | Other Motor Vehicle Parts Manufacturing | First Lien Debt #2 | $1.62M | $1.61M | $6.0K | 10.51% | +5.00% | 2027-03-30 |
Signal Parent, Inc. | New Single-Family Housing Construction (except For-Sale Builders) | First Lien Debt | $1.62M | $1.78M | -$163.0K | 8.45% | +3.50% | 2028-04-03 |
TalentSmart Holdings, LLC | Professional and Management Development Training | Common Equity | $1.58M | $1.59M | -$14.0K | — | — | — |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt #2 | $1.46M | $1.45M | $8.0K | 13.00% | +7.40% | 2026-12-30 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt (Revolver) | $1.40M | $1.44M | -$33.0K | 11.96% | +6.75% | 2025-12-22 |
Avison Young | Nonresidential Property Managers | First Lien Debt #1 | $1.33M | $1.54M | -$211.0K | 6.71% | +8.00% | 2029-03-12 |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | First Lien Debt | $1.32M | $1.71M | -$390.0K | 10.26% | +4.75% | 2028-04-27 |
Octagon Investment Partners 39, Ltd. | Structured Finance Securities | Subordinated Notes | $1.22M | $3.19M | -$1.97M | 0.00% | — | 2030-10-20 |
Monroe Capital MML CLO X, Ltd. | Structured Finance Securities | Mezzanine Debt - Class E-R | $1.00M | $973.0K | $31.0K | 13.88% | +8.75% | 2034-05-20 |
Park Avenue Institutional Advisers CLO Ltd | Park Avenue Institutional Advisers CLO Ltd 2021-1 | 2021-1, Mezzanine Debt - Class E | $998.0K | $985.0K | $13.0K | 12.84% | +7.30% | 2034-01-20 |
DRS Imaging Services, LLC | Data Processing, Hosting, and Related Services | Common Equity | $969.0K | $1.14M | -$166.0K | — | — | — |
Brightwood Capital MM CLO 2023-1A, Ltd. | Structured Finance Securities | Mezzanine Debt - Class D | $936.0K | $892.0K | $44.0K | 11.76% | +6.46% | 2035-10-15 |
PM Acquisition LLC | All Other General Merchandise Stores | Common Equity | $925.0K | $499.0K | $426.0K | — | — | — |
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 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Common Equity | $863.0K | $1.29M | -$427.0K | — | — | — |
Tolemar Acquisition, Inc. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt (Revolver) | $798.0K | $869.0K | -$71.0K | 11.20% | +6.00% | 2026-10-14 |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #1 | $780.0K | $938.0K | -$158.0K | 9.97% | +4.75% | 2028-04-28 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #2 | $742.0K | $1.03M | -$291.0K | — | +5.25% | 2025-04-30 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #2 | $729.0K | $774.0K | -$45.0K | — | +8.75% | 2026-08-31 |
Trinitas CLO VIII, Ltd | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Subordinated Notes | $724.0K | $2.46M | -$1.74M | 0.00% | — | — |
Flow Service Partners Management, LLC | Plumbing, Heating & Air-Conditioning Contractor | First Lien Debt #2 | $616.0K | $626.0K | -$10.0K | 11.25% | +6.50% | 2029-02-28 |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #2 | $454.0K | $1.29M | -$841.0K | 9.97% | +4.75% | 2028-04-30 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Preferred Equity | $356.0K | $345.0K | $11.0K | — | — | — |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt (Revolver) | $192.0K | $266.0K | -$74.0K | — | +5.25% | 2025-04-30 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | $95.0K | $87.0K | $8.0K | 12.75% | +4.75% | 2027-10-15 |
Constellis Holdings, LLC | Other Justice, Public Order, and Safety Activities | Common Equity | $64.0K | $703.0K | -$639.0K | — | — | — |
Avison Young | Nonresidential Property Managers | First Lien Debt #2 | $62.0K | $483.0K | -$421.0K | 6.71% | +8.00% | 2029-03-12 |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #2 | $46.0K | $45.0K | $1.0K | 10.50% | +5.25% | 2027-07-22 |
Diamond Sports Group, LLC | Television Broadcasting | Second Lien Debt | $24.0K | $1.94M | -$1.91M | 10.31% | +5.25% | 2026-08-24 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | Warrants | $22.0K | $200.0K | -$178.0K | — | — | — |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt (Delayed Draw) | $4.0K | -$2.0K | $6.0K | — | +6.00% | 2029-10-20 |
Sentry Centers Holdings, LLC | Convention and Trade Show Organizers | Preferred Equity | $1.0K | $160.0K | -$159.0K | — | — | — |
Avison Young | Nonresidential Property Managers | Common Equity | $0.00 | $1.40M | -$1.40M | — | — | — |
Avison Young | Nonresidential Property Managers | Preferred Equity | $0.00 | $1.27M | -$1.27M | — | — | — |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Common Equity | $0.00 | $104.0K | -$104.0K | — | — | — |
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) | -$3.0K | -$7.0K | $4.0K | — | +6.75% | 2027-12-30 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | -$8.0K | -$7.0K | -$1.0K | — | +6.50% | 2027-02-25 |
Flow Service Partners Management, LLC | Plumbing, Heating & Air-Conditioning Contractor | First Lien Debt (Revolver) | -$16.0K | -$6.0K | -$10.0K | — | +6.50% | 2029-02-28 |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt (Revolver) | -$100.0K | -$4.0K | -$96.0K | — | +6.25% | 2026-12-20 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt (Revolver) | — | -$7.0K | — | — | +6.00% | 2029-10-20 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | Common Equity | — | — | — | — | — | — |
Disclosed holdings FV
$394.73M
Parsed holdings FV
$394.73M
Residual gap
$0.00
Balance-sheet cash
$20.28M
CIK
0001487918
Accession
0001487918-24-000081
Form type
10-Q
Period
2024-09-30