OFS Capital Corporation
Inside OFS Capital Corporation’s $410M private-credit portfolio — 110 portfolio holdings disclosed in SEC filings.
Filing Information
Portfolio Composition
Portfolio-wide breakdown by fair value across this BDC’s full Schedule of Investments. Source: SEC EDGAR (public).
Top Portfolio Holdings
| Company | Sector | Investment | Coupon | Maturity | Cost | Fair Value |
|---|---|---|---|---|---|---|
| (400 Class A shares) | Common Equity | $217,000 | $80,430,000 | |||
| Pfanstiehl Holdings, Inc. | Common Equity | — | $80,430,000 | |||
| Industry | Sports and Recreation Instruction | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.75% | 2029-12-20 | $16,690,000 | $16,920,000 |
| Industry | Other Ambulatory Health Care Services | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.25% (PIK 0.50%) | 2026-12-20 | $17,054,000 | $16,678,000 |
| Industry | Other Computer Related Services | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 7.00% (PIK 2.00%) | 2026-10-01 | $14,538,000 | $14,574,000 |
| Industry | Motorcycle, Bicycle, and Parts Manufacturing | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.00% (PIK 1.25%) | 2027-10-14 | $14,438,000 | $9,475,000 |
| (3,061 Series A shares), 10% PIK | Preferred Equity | $9,929,000 | $9,050,000 | |||
| Contract Datascan Holdings, Inc. | Preferred Equity | — | $9,050,000 | |||
| Industry | Services for the Elderly and Persons with Disabilities | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.50% | 2027-02-25 | $8,919,000 | $8,946,000 |
| Industry | Temporary Help Services | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 7.13% | 2027-11-16 | $8,345,000 | $8,345,000 |
| Industry | Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.75% | 2030-04-17 | $7,830,000 | $7,940,000 |
| Industry | Software Publishers | First Lien Debt Senior Secured | 6.50% Intitial Acquisition Date 3/13/2018 | 2027-12-31 | $14,113,000 | $7,808,000 |
| s | Subordinated Note Subordinated | 17.18% Initial Acquisition Date 8/22/2024 | 2037-07-15 | $9,562,000 | $7,196,000 | |
| Industry | Supermarkets and Other Grocery (except Convenience) Stores | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.75% | 2029-08-01 | $8,751,000 | $6,879,000 |
| s | Subordinated Note Subordinated | 17.49% Initial Acquisition Date 4/28/2022 | 2038-10-22 | $10,195,000 | $6,768,000 | |
| Industry | Offices of Other Holding Companies | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.75% | 2025-12-22 | $7,261,000 | $6,324,000 |
| s | Subordinated Note Subordinated | 22.54% Initial Acquisition Date 8/8/2024 | 2034-10-20 | $7,853,000 | $5,894,000 | |
| s | Subordinated Note Subordinated | 6.25% Initial Acquisition Date 11/16/2020 | 2035-04-20 | $9,045,000 | $4,793,000 | |
| s | Subordinated Note Subordinated | 24.50% Initial Acquisition Date 9/28/2023 | 2035-10-15 | $4,525,000 | $4,647,000 | |
| - Class E | Mezzanine Debt Subordinated | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.85% | 2034-04-24 | $6,000,000 | $4,141,000 | |
| Industry | Offices of Physicians and Mental Health Specialists | First Lien Debt Senior Secured | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.25% (PIK 9.07%) | 2028-10-31 | $3,893,000 | $3,893,000 |
| SSJA Bariatric Management LLC | First Lien Debt Senior Secured | — | $3,893,000 | |||
| DRS Imaging Services, LLC | Common Equity | — | $3,741,000 | |||
| (1,135 units) | Common Equity | $1,135,000 | $3,741,000 | |||
| s | Subordinated Note Subordinated | 16.68% Initial Acquisition Date 10/30/2024 | 1937-10-22 | $5,961,000 | $3,685,000 |
Loan-Pricing Trend
Fair-value-weighted average credit spread and average mark across this BDC’s Schedule-of-Investments debt holdings, by filing quarter. Spread and mark are shown in the units reported in the filing. Source: SEC EDGAR (public).
| Quarter | Priced Loans | Wtd-Avg Spread | Avg Mark | Debt Fair Value |
|---|---|---|---|---|
| 2022-06-30 | 0 | — | — | — |
| 2022-09-30 | 0 | — | — | — |
| 2023-03-31 | 0 | — | — | $23K |
| 2023-06-30 | 43 | 6.56 | 76.0 | $287M |
| 2023-09-30 | 43 | 6.54 | 75.1 | $252M |
| 2023-12-31 | 44 | 6.31 | 76.8 | $240M |
| 2024-03-31 | 44 | 6.23 | 75.1 | $229M |
| 2024-06-30 | 41 | 6.20 | 77.8 | $217M |
| 2024-09-30 | 44 | 6.08 | 77.4 | $243M |
| 2024-12-31 | 38 | 6.23 | 77.3 | $234M |
| 2025-03-31 | 37 | 6.50 | 77.3 | $242M |
| 2025-06-30 | 36 | 6.51 | 77.2 | $237M |
| 2025-09-30 | 32 | 6.47 | 76.1 | $224M |
| 2025-12-31 | 31 | 6.40 | 71.7 | $120M |
| 2026-03-31 | 64 | 6.32 | 79.4 | $206M |
Marks reflect each BDC’s own fair-value estimates as reported to the SEC, not traded prices. Private-credit loans are predominantly Level 3 under ASC 820 — valued from unobservable inputs and determined in good faith by each BDC’s board, so figures are estimates as of the filing date and are not directly comparable across managers. Informational only; not investment advice or a valuation.
About OFS Capital Corporation
OFS Capital Corporation (OFS) is a publicly traded Business Development Company (BDC) — essentially a publicly listed fund that lends money to mid-sized private companies. In plain English: BDCs raise money from public investors and lend it to businesses that are too small for Wall Street banks. By law, they must pay out at least 90% of their profits as dividends, which is why BDC yields are often 8–12%. OFS Capital Corporation discloses its full loan portfolio through SEC filings.
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