BCSF
Bain Capital Specialty Finance
Portfolio Fair Value
$2.49B
345 holdings
Avg Spread
+6.63%
FV-weighted, debt
Avg Coupon
11.37%
FV-weighted
% First Lien
61.5%
of debt FV
Unrealized P/L
-$30.96M
-1.23% of cost
Non-Accrual
2
text-detected
Balance sheet
Assets$2.68B
Liabilities + Equity$2.68B
First Lien
$1.47B · 54.8%
First Lien
$1.47B · 54.8%
Second Lien
$82.12M · 3.1%
Subordinated
$332.54M · 12.4%
Subordinated
$332.54M · 12.4%
Equity
$379.49M · 14.2%
Equity
$379.49M · 14.2%
Other
$124.32M · 4.6%
Cash & Equivalents
$87.73M · 3.3%
Other Assets
$202.39M · 7.6%
Debt (Borrowings)
$1.49B · 55.7%
Debt (Borrowings)
$1.49B · 55.7%
Other Liabilities
$60.00M · 2.2%
Net Assets (Equity)
$1.13B · 42.1%
Net Assets (Equity)
$1.13B · 42.1%
Industry Composition
Investment Vehicles
14.8%
Aerospace & Defense
13.2%
High Tech Industries
10.9%
Services: Business
7.2%
Consumer Goods: Non-Durable
4.9%
Transportation: Cargo
4.8%
Transportation: Consumer
4.4%
Cash Equivalents
4.3%
Healthcare & Pharmaceuticals
3.3%
Construction & Building
3.1%
Consumer Goods: Durable
3.1%
Automotive
3.1%
Other industries
22.9%
Spread Distribution
1.0%
3.5%
4.5%
5.5%
6.5%
7.5%
8.5%
10.0%
12.0%
Schedule of Investments
All holdings
All holdings
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345 of 345
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
International Senior Loan Program, LLC | Investment Vehicles | Subordinated Note Investment Vehicles | $186.98M | $186.98M | $0.00 | 13.55% | +8.00% | 2028-02-22 |
Bain Capital Senior Loan Program, LLC | Investment Vehicles | Subordinated Note Investment Vehicles | $116.00M | $116.00M | $0.00 | 10.00% | +10.00% | 2033-12-27 |
Controlled Affiliate Investments Cash Equivalents Goldman Sachs Financial Square Government Fund Institutional Share Class Cash Equivalents | Cash Equivalents | — | $106.72M | $106.72M | $0.00 | 5.02% | — | — |
Gale Aviation (Offshore) Co | Aerospace & Defense | Equity Interest | $89.67M | $90.45M | -$778.0K | — | — | — |
International Senior Loan Program, LLC | Investment Vehicles | Equity Interest Investment Vehicles | $65.83M | $59.37M | $6.47M | — | — | — |
Direct Travel, Inc | Transportation: Consumer | First Lien Senior Secured Loan | $59.34M | $59.34M | $0.00 | 11.89% | +6.50% | 2025-10-02 |
Saturn Purchaser Corp | Aerospace & Defense | First Lien Senior Secured Loan | $46.03M | $45.59M | $443.0K | 10.69% | +5.60% | 2029-07-23 |
Lightning Holdings B, LLC | Transportation: Cargo | Equity Interest | $41.43M | $35.21M | $6.22M | — | — | — |
Element Buyer, Inc | High Tech Industries | First Lien Senior Secured Loan | $36.43M | $36.56M | -$123.0K | 10.70% | +5.50% | 2025-07-19 |
WU Holdco, Inc | Consumer Goods: Non-Durable | First Lien Senior Secured Loan | $35.61M | $37.14M | -$1.53M | 10.89% | +5.50% | 2026-03-26 |
SAM | High Tech Industries | First Lien Senior Secured Loan | $34.75M | $35.95M | -$1.20M | 11.25% | — | 2028-05-09 |
CPS Group Holdings, Inc | Healthcare & Pharmaceuticals | First Lien Senior Secured Loan | $34.50M | $34.39M | $113.0K | 10.64% | +5.25% | 2025-03-03 |
GSP Holdings, LLC | Aerospace & Defense | First Lien Senior Secured Loan | $33.09M | $35.53M | -$2.44M | 11.14% | +5.75% | 2025-11-06 |
Blackbrush Oil & Gas, L.P | Energy: Oil & Gas | Preferred Equity | $33.03M | $11.78M | $21.25M | — | — | — |
DC Blox Inc | Telecommunications | First Lien Senior Secured Loan - Delayed Draw | $31.99M | $31.82M | $173.0K | 13.53% | +4.00% | 2026-03-22 |
Mach Acquisition T/L | Aerospace & Defense | First Lien Senior Secured Loan | $31.80M | $33.39M | -$1.59M | 13.77% | +4.50% | 2026-10-18 |
Solaray, LLC | Consumer Goods: Non-Durable | First Lien Senior Secured Loan | $29.98M | $30.52M | -$534.0K | 11.61% | +6.25% | 2023-09-09 |
Kellstrom Commercial Aerospace, Inc | Aerospace & Defense | First Lien Senior Secured Loan | $28.68M | $29.33M | -$643.0K | 11.72% | +6.50% | 2025-07-01 |
TLC Purchaser, Inc | Consumer Goods: Durable | First Lien Senior Secured Loan | $28.62M | $36.07M | -$7.45M | 13.77% | +2.26% | 2025-10-13 |
TEI Holdings Inc | Services: Business | First Lien Senior Secured Loan | $25.93M | $25.86M | $70.0K | 10.64% | +5.25% | 2026-12-23 |
Titan Cloud Software, Inc | Environmental Industries | First Lien Senior Secured Loan | $25.52M | $25.48M | $39.0K | 11.13% | +6.00% | 2029-09-07 |
MRI Software LLC | High Tech Industries | First Lien Senior Secured Loan | $24.83M | $25.49M | -$660.0K | 10.84% | +5.50% | 2026-02-10 |
Gluware | High Tech Industries | First Lien Senior Secured Loan | $24.41M | $24.82M | -$410.0K | 14.50% | +9.00% | 2025-10-15 |
Non-controlled/Affiliated Investments FIRE: Finance BCC Middle Market CLO 2018-1, LLC Structured Product | FIRE: Finance | — | $23.16M | $24.05M | -$891.0K | — | — | 2030-10-20 |
Amspec Services, Inc | Energy: Oil & Gas | First Lien Senior Secured Loan | $22.87M | $22.81M | $59.0K | 10.96% | +5.75% | 2024-07-02 |
A&R Logistics, Inc | Transportation: Cargo | First Lien Senior Secured Loan | $21.84M | $21.68M | $164.0K | 11.15% | +5.75% | 2025-05-05 |
Service Master | Construction & Building | First Lien Senior Secured Loan | $21.81M | $21.81M | $0.00 | 13.77% | +7.50% | 2027-08-16 |
iBanFirst Facility | Services: Business | Preferred Equity | $20.09M | $8.14M | $11.95M | — | — | — |
ImageTrend | Services: Business | First Lien Senior Secured Loan - Delayed Draw | $19.70M | $19.73M | -$25.0K | 12.80% | +7.75% | 2029-01-31 |
American Trailer Rental Group | Automotive | Subordinated Debt | $19.16M | $19.12M | $44.0K | 11.00% | +9.00% | 2027-12-01 |
Taoglas | Telecommunications | First Lien Senior Secured Loan | $18.71M | $18.72M | -$3.0K | 12.24% | +7.00% | 2029-02-28 |
NearMap | High Tech Industries | First Lien Senior Secured Loan | $17.67M | $17.52M | $154.0K | 12.45% | +7.25% | 2029-12-09 |
YLG Holdings, Inc | Construction & Building | First Lien Senior Secured Loan | $17.05M | $16.99M | $60.0K | 10.18% | +5.00% | 2025-10-31 |
PrimeFlight Acquisition LLC | Transportation: Consumer | First Lien Senior Secured Loan | $16.73M | $16.91M | -$182.0K | 11.94% | +6.85% | 2029-05-01 |
Margaux Acquisition Inc | FIRE: Insurance | First Lien Senior Secured Loan | $16.58M | $16.48M | $104.0K | 11.15% | +5.75% | 2024-12-19 |
Kpler | Media: Advertising, Printing & Publishing | First Lien Senior Secured Loan | $16.29M | $15.65M | $632.0K | 9.71% | +6.50% | 2030-03-03 |
Simplicity | FIRE: Insurance | First Lien Senior Secured Loan | $16.18M | $16.22M | -$37.0K | 11.64% | +6.25% | 2026-12-02 |
Applitools | High Tech Industries | First Lien Senior Secured Loan | $15.97M | $16.25M | -$282.0K | 11.35% | +6.25% | 2029-05-25 |
Robinson Helicopter | Aerospace & Defense | First Lien Senior Secured Loan | $15.74M | $15.43M | $309.0K | 11.70% | +6.50% | 2028-06-30 |
American Trailer Rental Group | Automotive | Subordinated Debt | $15.35M | $15.32M | $23.0K | 11.00% | +9.00% | 2027-12-01 |
Apollo Intelligence | Healthcare & Pharmaceuticals | First Lien Senior Secured Loan | $15.31M | $15.18M | $127.0K | 10.91% | +5.75% | 2028-06-01 |
FL Hawk Intermediate Holdings, Inc | Consumer Goods: Non-Durable | Second Lien Senior Secured Loan | $15.13M | $14.78M | $342.0K | 14.50% | +9.00% | 2028-08-22 |
RoC Opco LLC | Consumer Goods: Non-Durable | First Lien Senior Secured Loan | $14.96M | $14.85M | $117.0K | 12.84% | +7.60% | 2025-02-25 |
ADT Pizza, LLC | Beverage, Food & Tobacco | Equity Interest | $14.58M | $6.73M | $7.85M | — | — | — |
Avalon Acquiror, Inc | Services: Business | First Lien Senior Secured Loan | $14.14M | $14.38M | -$244.0K | 11.49% | +6.25% | 2028-03-10 |
Aramsco, Inc | Wholesale | First Lien Senior Secured Loan | $13.99M | $13.92M | $75.0K | 10.95% | +5.75% | 2024-08-28 |
Solaray, LLC | Consumer Goods: Non-Durable | First Lien Senior Secured Loan - Delayed Draw | $13.81M | $14.05M | -$246.0K | 11.59% | +6.25% | 2023-09-09 |
Chase Industries, Inc | Construction & Building | First Lien Senior Secured Loan | $13.79M | $14.81M | -$1.02M | 12.54% | — | 2025-05-12 |
Forming Machining Industries Holdings, LLC | Aerospace & Defense | First Lien Senior Secured Loan | $13.68M | $16.14M | -$2.46M | 9.66% | +4.25% | 2025-10-09 |
Ventiv Holdco, Inc | High Tech Industries | First Lien Senior Secured Loan | $13.66M | $13.78M | -$123.0K | 10.84% | +5.50% | 2025-09-03 |
Aimbridge Acquisition Co., Inc | Hotel, Gaming & Leisure | Second Lien Senior Secured Loan | $13.48M | $13.95M | -$466.0K | 12.67% | +7.50% | 2027-02-01 |
Direct Travel, Inc | Transportation: Consumer | Equity Interest | $13.04M | — | — | — | — |