OFS
OFS Capital
Portfolio Fair Value
$399.98M
114 holdings
Avg Spread
+6.30%
FV-weighted, debt
Avg Coupon
11.89%
FV-weighted
% First Lien
55.3%
of debt FV
Unrealized P/L
+$1.92M
+0.48% of cost
Non-Accrual
6
text-detected
Balance sheet
Assets$410.47M
Liabilities + Equity$410.47M
First Lien
$221.28M · 53.9%
First Lien
$221.28M · 53.9%
Second Lien
$24.18M · 5.9%
Subordinated
$77.79M · 19.0%
Subordinated
$77.79M · 19.0%
Equity
$77.16M · 18.8%
Equity
$77.16M · 18.8%
Cash & Equivalents
$6.09M · 1.5%
Other Assets
$3.96M · 1.0%
Debt (Borrowings)
$258.50M · 63.0%
Debt (Borrowings)
$258.50M · 63.0%
Other Liabilities
$3.57M · 0.9%
Net Assets (Equity)
$148.40M · 36.2%
Net Assets (Equity)
$148.40M · 36.2%
Industry Composition
Pharmaceutical Preparation Manufacturing
15.8%
Apex Credit CLO 2022-1A
13.4%
Motor Vehicle Parts (Used) Merchant Wholesalers
6.9%
Services for the Elderly and Persons with Disabilities
6.2%
Other Computer Related Services
4.3%
Other Ambulatory Health Care Services
4.0%
Motorcycle, Bicycle, and Parts Manufacturing
3.7%
Structured Finance Securities
3.1%
Offices of Other Holding Companies
3.1%
Software Publishers
2.9%
Electrical Contractors and Other Wiring Installation Contractors
2.4%
Office Machinery and Equipment Rental and Leasing
2.3%
Other industries
31.9%
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
114 of 119
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Pfanstiehl Holdings, Inc. | Pharmaceutical Preparation Manufacturing | Common Equity | $63.08M | $217.0K | $62.86M | — | — | — |
All Star Auto Lights, Inc. | Motor Vehicle Parts (Used) Merchant Wholesalers | First Lien Debt #1 | $22.80M | $22.68M | $118.0K | 11.09% | +5.50% | 2025-08-20 |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt | $16.00M | $17.18M | -$1.18M | — | +4.25% | 2026-12-20 |
Inergex Holdings, LLC | Other Computer Related Services | Senior Secured Loan | $14.87M | $14.81M | $57.0K | — | +7.00% | 2024-10-01 |
Tolemar Acquisition, INC. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt | $14.28M | $15.27M | -$986.0K | 11.43% | +6.00% | 2026-10-14 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt | $10.58M | $10.81M | -$227.0K | 11.93% | +6.50% | 2027-02-25 |
Contract Datascan Holdings, Inc. | Office Machinery and Equipment Rental and Leasing | Preferred Equity | $9.18M | $7.57M | $1.61M | — | — | — |
24 Seven Holdco, LLC | Temporary Help Services | First Lien Debt | $8.47M | $8.76M | -$281.0K | 11.42% | +6.00% | 2027-11-16 |
Barings CLO 2019-I Ltd. | Apex Credit CLO 2022-1A | Mezzanine debt - Class E | $7.86M | $7.92M | -$63.0K | 12.44% | +6.86% | 2035-04-15 |
Planet Bingo, LLC (F/K/A 3rd Rock Gaming Holdings, LLC) | Software Publishers | First Lien Debt | $7.38M | $14.11M | -$6.74M | 6.50% | — | 2025-12-31 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #1 | $7.15M | $7.35M | -$202.0K | 12.18% | +6.75% | 2025-12-22 |
Apex Credit CLO 2020 Ltd. | Structured Finance Securities | Subordinated Notes | $6.75M | $10.03M | -$3.27M | 13.49% | — | 2031-10-20 |
Apex Credit CLO 2022-1A | Apex Credit CLO 2022-1A | Subordinated Notes | $6.67M | $8.83M | -$2.15M | 16.85% | — | 2033-04-22 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #1 | $6.45M | $6.37M | $76.0K | 11.21% | +5.75% | 2027-10-15 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #1 | $6.38M | $9.56M | -$3.19M | 10.71% | +5.25% | 2024-08-26 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | First Lien Debt | $6.28M | $6.28M | $0.00 | 7.50% | — | 2025-12-31 |
Heritage Grocers Group, LLC. (F/K/A Tony's Fresh Market / Cardenas Markets) | Supermarkets and Other Grocery (except Convenience) Stores | First Lien Debt | $5.95M | $5.64M | $307.0K | 12.16% | +6.75% | 2029-08-01 |
Convergint Technologies Holdings, LLC | Security Systems Services (except Locksmiths) | Senior Secured Loan | $5.94M | $5.87M | $71.0K | 12.19% | +6.75% | 2029-03-30 |
Wellful Inc. (F/K/A KNS Acquisition Corp.) | Electronic Shopping and Mail-Order Houses | First Lien Debt | $5.78M | $6.54M | -$763.0K | 11.69% | +6.25% | 2027-04-21 |
Apex Credit CLO 2021 Ltd | Structured Finance Securities | Subordinated Notes | $5.74M | $6.84M | -$1.10M | 21.61% | — | 2034-07-18 |
Ares L CLO Ltd. | Apex Credit CLO 2022-1A | Mezzanine debt - Class E | $5.60M | $5.85M | -$249.0K | 11.23% | +5.65% | 2032-01-15 |
Battalion CLO XI, Ltd. | Apex Credit CLO 2022-1A | Mezzanine debt - Class E | $5.56M | $5.93M | -$372.0K | 12.43% | +6.85% | 2034-04-24 |
Madison Park Funding XXIX, Ltd. | Apex Credit CLO 2022-1A | Subordinated Notes | $5.03M | $5.67M | -$639.0K | 12.93% | — | 2047-10-18 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | First Lien Debt #1 | $4.96M | $4.92M | $45.0K | 14.07% | +8.50% | 2028-06-11 |
Flatiron CLO 18, Ltd. | Apex Credit CLO 2022-1A | Subordinated Notes | $4.93M | $6.09M | -$1.16M | 8.38% | — | 2031-04-17 |
All Star Auto Lights, Inc. | Motor Vehicle Parts (Used) Merchant Wholesalers | First Lien Debt #2 | $4.91M | $4.87M | $45.0K | 11.09% | +5.50% | 2025-08-20 |
Brightwood Capital MM CLO 2023-1A, Ltd. | Apex Credit CLO 2022-1A | Subordinated Notes | $4.72M | $5.19M | -$473.0K | 14.56% | — | 2035-10-15 |
Madison Park Funding XXIII, Ltd. | Apex Credit CLO 2022-1A | Subordinated Notes | $4.58M | $5.36M | -$782.0K | 16.59% | — | 2047-07-27 |
TruGreen Limited | — | Partnership, Second Lien Debt | $4.32M | $4.59M | -$271.0K | 14.07% | +8.50% | 2028-11-02 |
Excelin Home Health, LLC | Home Health Care Services | Second Lien Debt | $4.27M | $5.07M | -$804.0K | — | — | 2025-12-31 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt #2 | $4.08M | $4.02M | $55.0K | 11.21% | +5.75% | 2027-10-15 |
Idera Inc. | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $4.00M | $4.00M | $0.00 | 12.21% | +6.75% | 2029-03-02 |
BayMark Health Services, Inc. | Outpatient Mental Health and Substance Abuse Centers | First Lien Debt #2 | $3.99M | $3.95M | $38.0K | 14.07% | +8.50% | 2028-06-11 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt #2 | $3.77M | $3.87M | -$105.0K | 12.18% | +6.75% | 2025-12-22 |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | Second Lien Debt | $3.63M | $4.41M | -$774.0K | 13.19% | +7.75% | 2029-04-27 |
Electrical Components International, Inc. | Current-Carrying Wiring Device Manufacturing | Second Lien Debt | $3.58M | $3.47M | $102.0K | 13.93% | +8.50% | 2026-06-26 |
Flow Service Partners Management, LLC | Plumbing, Heating & Air-Conditioning Contractor | First Lien Debt #1 | $3.46M | $3.46M | $0.00 | 11.99% | +6.50% | 2029-02-28 |
JP Intermediate B, LLC | Drugs and Druggists' Sundries Merchant Wholesalers | First Lien Debt | $3.44M | $4.53M | -$1.09M | 11.07% | +5.50% | 2027-11-20 |
Allen Media, LLC | Cable and Other Subscription Programming | First Lien Debt | $3.26M | $3.72M | -$457.0K | 10.96% | +5.50% | 2027-02-10 |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt | $3.14M | $3.10M | $34.0K | 12.21% | +6.75% | 2027-12-30 |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt #1 | $3.04M | $3.02M | $17.0K | 12.33% | +6.74% | 2026-12-30 |
Regatta XXII Funding Ltd | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Mezzanine debt - Class E | $3.04M | $2.98M | $60.0K | 12.51% | +7.19% | 2035-07-20 |
Staples, Inc. | Business to Business Electronic Markets | First Lien Debt | $2.84M | $2.84M | $3.0K | 10.44% | +5.00% | 2026-04-16 |
Ivanti Software, Inc. | Software Publishers | First Lien Debt | $2.75M | $2.93M | -$187.0K | 9.84% | +4.25% | 2027-12-01 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Delayed Draw) | $2.70M | $2.68M | $23.0K | 11.46% | +6.00% | 2027-10-15 |
Metasource, LLC | All Other Business Support Services | First Lien Debt | $2.70M | $2.72M | -$22.0K | — | +6.25% | 2027-05-17 |
Venture 45 CLO Ltd. | Trinitas CLO VIII | Mezzanine debt - Class E | $2.67M | $2.94M | -$275.0K | 13.02% | +7.70% | 2035-07-20 |
THL Credit Wind River 2019‐3 CLO Ltd | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Subordinated Notes | $2.62M | $4.70M | -$2.08M | 10.01% | — | 2031-04-15 |
Envocore Holding, LLC (F/K/A LRI Holding, LLC) | Electrical Contractors and Other Wiring Installation Contractors | Second Lien Debt | $2.60M | $6.58M | -$3.99M | — | — | 2026-12-31 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #1 | $2.40M | $2.52M | -$128.0K | — | +8.25% | 2026-08-31 |
Inergex Holdings, LLC | Other Computer Related Services | First Lien Debt (Revolver) | $2.34M | $2.32M | $21.0K | — | +7.00% | 2024-10-01 |
Advantage Sales & Marketing Inc. (F/K/A Karman Buyer Corp) | Advertising Agencies | First Lien Debt | $2.26M | $2.23M | $28.0K | 10.09% | +4.50% | 2027-10-28 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt | $2.21M | $2.18M | $35.0K | 11.41% | +6.25% | 2029-10-20 |
Brightwood Capital MM CLO 2023-1A, Ltd. | Apex Credit CLO 2022-1A | Mezzanine Debt - Class E | $2.19M | $1.94M | $253.0K | 15.75% | +10.36% | 2035-10-15 |
Octagon Investment Partners 39, Ltd. | Apex Credit CLO 2022-1A | Subordinated Notes | $2.14M | $3.78M | -$1.64M | 3.81% | — | 2030-10-20 |
Reception Purchaser LLC | Transportation and Warehousing | First Lien Debt | $2.10M | $2.49M | -$395.0K | 11.45% | +6.00% | 2028-03-24 |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #1 | $1.99M | $1.95M | $48.0K | 11.72% | +6.25% | 2027-07-22 |
Creation Technologies | Bare Printed Circuit Board Manufacturing | First Lien Debt | $1.88M | $1.96M | -$74.0K | 11.09% | +5.50% | 2028-10-05 |
East West Manufacturing | Fluid Power Pump and Motor Manufacturing | First Lien Debt | $1.88M | $1.91M | -$33.0K | 11.06% | +5.75% | 2028-12-22 |
Dryden 76 CLO, Ltd. | Apex Credit CLO 2022-1A | Subordinated Notes | $1.81M | $2.36M | -$548.0K | 14.41% | — | 2032-10-20 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #3 | $1.74M | $2.60M | -$864.0K | 10.71% | +5.25% | 2024-08-26 |
Signal Parent, Inc. | New Single-Family Housing Construction (except For-Sale Builders) | First Lien Debt | $1.71M | $1.79M | -$78.0K | 8.93% | +3.50% | 2028-04-03 |
BCPE North Star US Holdco 2, Inc. (F/K/A Dessert Holdings) | Ice Cream and Frozen Dessert Manufacturing | Second Lien Debt | $1.50M | $1.65M | -$144.0K | 12.69% | +7.25% | 2029-06-08 |
Spear Education Holdings, LLC | Professional and Management Development Training | First Lien Debt | $1.50M | $1.45M | $43.0K | — | +7.50% | 2027-12-15 |
SS Acquisition, LLC | Sports and Recreation Instruction | First Lien Debt #2 | $1.46M | $1.45M | $10.0K | 13.03% | +7.59% | 2026-12-30 |
RPLF Holdings, LLC | Software Publishers | Common Equity | $1.43M | — | — | — | — | — |
Redstone Holdco 2 LP (F/K/A RSA Security) | Computer and Computer Peripheral Equipment and Software Merchant Wholesalers | First Lien Debt | $1.42M | $1.71M | -$285.0K | 10.19% | +4.75% | 2028-04-27 |
One GI LLC | Offices of Other Holding Companies | First Lien Debt (Revolver) | $1.39M | $1.43M | -$40.0K | 12.18% | +6.75% | 2025-12-22 |
Avison Young | Nonresidential Property Managers | First Lien Debt #2 | $1.27M | $1.49M | -$222.0K | 7.08% | +8.00% | 2029-03-12 |
Trinitas CLO VIII | Trinitas CLO VIII | Subordinated Notes | $1.27M | $2.75M | -$1.48M | 7.33% | — | — |
TalentSmart Holdings, LLC | Professional and Management Development Training | Common Equity | $1.08M | $1.59M | -$518.0K | — | — | — |
Monroe Capital MML CLO X, Ltd. | Apex Credit CLO 2022-1A | Mezzanine debt - Class E-R | $1.02M | $965.0K | $57.0K | 14.07% | +8.75% | 2034-05-20 |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #2 | $1.00M | $1.30M | -$297.0K | 10.17% | +4.75% | 2028-04-30 |
Park Avenue Institutional Advisers CLO Ltd | Park Avenue Institutional Advisers CLO Ltd 2021-1 | 2021-1, Mezzanine debt - Class E | $1.00M | $983.0K | $20.0K | 12.88% | +7.30% | 2034-01-20 |
Brightwood Capital MM CLO 2023-1A, Ltd. | Apex Credit CLO 2022-1A | Mezzanine Debt - Class D | $925.0K | $890.0K | $35.0K | 11.85% | +6.46% | 2035-10-15 |
GoTo Group (F/K/A LogMeIn, Inc.) | Data Processing, Hosting, and Related Services | First Lien Debt #1 | $905.0K | $942.0K | -$37.0K | 10.17% | +4.75% | 2028-04-30 |
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 |
Avison Young | Nonresidential Property Managers | First Lien Debt #1 | $817.0K | $840.0K | -$23.0K | 13.08% | +7.50% | 2028-03-13 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Common Equity | $735.0K | $1.29M | -$555.0K | — | — | — |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | First Lien Debt #2 | $723.0K | $775.0K | -$52.0K | — | +8.75% | 2026-08-31 |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt #2 | $689.0K | $1.03M | -$344.0K | 10.71% | +5.25% | 2024-08-26 |
PM Acquisition LLC | All Other General Merchandise Stores | Common Equity | $631.0K | $499.0K | $132.0K | — | — | — |
Flow Service Partners Management, LLC | Plumbing, Heating & Air-Conditioning Contractor | First Lien Debt #2 | $629.0K | $629.0K | $0.00 | 11.97% | +6.50% | 2029-02-28 |
Dryden 53 CLO, Ltd. | Apex Credit CLO 2022-1A | Subordinated Notes - Income | $540.0K | $1.19M | -$654.0K | 6.34% | — | 2031-01-15 |
Redding Ridge 4 Ltd. | Park Avenue Institutional Advisers CLO Ltd 2021-1 | Subordinated Notes | $518.0K | $864.0K | -$346.0K | 4.64% | — | 2030-04-15 |
DRS Imaging Services, LLC | Data Processing, Hosting, and Related Services | Common Equity | $506.0K | $1.14M | -$629.0K | — | — | — |
Tolemar Acquisition, INC. | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt (Revolver) | $419.0K | $585.0K | -$166.0K | 11.43% | +6.00% | 2026-10-14 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | Preferred Equity | $351.0K | $345.0K | $6.0K | — | — | — |
Wellfleet CLO 2018-2 Ltd. | Trinitas CLO VIII | Subordinated Notes | $257.0K | $608.0K | -$351.0K | 7.33% | — | 2031-10-20 |
Master Cutlery, LLC | Sporting and Recreational Goods and Supplies Merchant Wholesalers | Subordinated Debt | $250.0K | $4.68M | -$4.43M | — | — | 2024-05-25 |
Astro One Acquisition Corporation | Other Miscellaneous Nondurable Goods Merchant Wholesalers | Second Lien Debt | $205.0K | $2.60M | -$2.39M | 14.07% | +8.50% | 2029-09-17 |
Honor HN Buyer Inc | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | $95.0K | $86.0K | $9.0K | 13.25% | +4.75% | 2027-10-15 |
Diamond Sports Group, LLC | Television Broadcasting | Second Lien Debt | $56.0K | $1.94M | -$1.88M | 10.68% | +5.25% | 2026-08-24 |
Avison Young | Nonresidential Property Managers | First Lien Debt #3 | $54.0K | $502.0K | -$448.0K | 7.08% | +8.00% | 2029-03-12 |
AIDC IntermediateCo 2, LLC | Computer Systems Design Services | First Lien Debt #2 | $46.0K | $45.0K | $1.0K | 11.71% | +6.25% | 2027-07-22 |
Constellis Holdings, LLC | Other Justice, Public Order, and Safety Activities | Common Equity | $45.0K | $703.0K | -$658.0K | — | — | — |
SSJA Bariatric Management LLC | Offices of Physicians and Mental Health Specialists | First Lien Debt (Revolver) | $44.0K | $266.0K | -$222.0K | 10.71% | +5.25% | 2024-08-26 |
RumbleOn, Inc. | Other Industrial Machinery Manufacturing | Warrants | $42.0K | $200.0K | -$158.0K | — | — | — |
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 | — | — | — |
Master Cutlery, LLC | Sporting and Recreational Goods and Supplies Merchant Wholesalers | Preferred Equity | $0.00 | $3.48M | -$3.48M | — | — | — |
United Biologics Holdings, LLC | Medical Laboratories | Preferred Equity | $0.00 | $9.0K | -$9.0K | — | — | — |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt (Revolver) | -$3.0K | -$7.0K | $4.0K | — | +6.25% | 2029-10-20 |
Medrina LLC | All Other Outpatient Care Centers | First Lien Debt (Delayed Draw) | -$4.0K | -$4.0K | $0.00 | — | +6.25% | 2029-10-20 |
Clevertech Bidco, LLC | Commodity Contracts Dealing | First Lien Debt (Revolver) | -$5.0K | -$8.0K | $3.0K | — | +6.75% | 2027-12-30 |
Flow Service Partners Management, LLC | Plumbing, Heating & Air-Conditioning Contractor | First Lien Debt (Revolver) | -$6.0K | -$6.0K | $0.00 | — | +6.50% | 2029-02-28 |
Boca Home Care Holdings, Inc. | Services for the Elderly and Persons with Disabilities | First Lien Debt (Revolver) | -$37.0K | -$9.0K | -$28.0K | — | +6.50% | 2027-02-25 |
Kreg LLC | Other Ambulatory Health Care Services | First Lien Debt (Revolver) | -$96.0K | -$5.0K | -$91.0K | — | +6.25% | 2026-12-20 |
Master Cutlery, LLC | Sporting and Recreational Goods and Supplies Merchant Wholesalers | Common Equity | — | — | — | — | — | — |
Disclosed holdings FV
$400.41M
Parsed holdings FV
$399.98M
Residual gap
$430.0K
Balance-sheet cash
$6.09M
CIK
0001487918
Accession
0001487918-24-000043
Form type
10-Q
Period
2024-03-31