OFS on Nasdaq

OFS Capital Corp

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Last updated Oct 19, 2026.

Overview

TickerOFS on Nasdaq¹
HeadquartersChicago, Illinois¹
Business address222 West Adams Street, Suite 1850, Chicago, Il 60606²
Filer categoryNon-accelerated filer²

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Our investment strategy focuses primarily on investments in middle-market companies in the United States, including investments in senior secured loans, which are comprised of first lien, second lien and unitranche loans, as well as investments in subordinated loans and, to a lesser extent, common stock, preferred stock and other equity securities. Our investments may be directly originated or may be purchased on a secondary basis in the U.S. leveraged loan market for Broadly Syndicated Loans (as defined below). As a BDC, we must not acquire any assets other than “qualifying assets” as specified in the 1940 Act unless, at the time the acquisition is made, at least 70% of our assets, as defined by the 1940 Act, are qualifying assets (with certain limited exceptions). Qualifying assets include investments in “eligible portfolio companies.” Under the relevant SEC rules, the term “eligible p…³ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income⁴⁵⁶⁷-$33.1M in 2025

Every line of the income statement as filed: the last 5 fiscal years, latest first.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Interest income:	$37.0M	$41.7M	$53.2M
Payment-in-kind interest and dividend income:	$2.7M	$2.7M	$2.6M
Dividend income:	$546.0K	$3.0M	$659.0K
Total investment income	$40.7M	$48.0M	$56.9M
Interest expense	$16.5M	$16.6M	$19.5M
Base management fees	$5.8M	$6.0M	$7.2M
Income Incentive Fee	$1.8M	$4.2M	$5.0M
Professional fees	$1.6M	$1.6M	$1.7M
Administration fees	$1.6M	$1.5M	$1.7M
Other expenses	$1.1M	$1.3M	$1.7M
Total expenses	$28.3M	$31.3M	$36.8M
Net investment income	$12.4M	$16.7M	$20.2M	$18.4M	$13.4M
Net realized (loss) gain	-$12.2M	-$17.1M	-$11.4M
Income tax (expense) benefit on net realized gains on investments	$1.0K	-$9.0K	-$51.0K
Deferred tax expense on net unrealized appreciation	-$311.0K	-$510.0K	-$69.0K
Net gain (loss) on investments	-$45.0M	$11.7M	-$20.4M
Loss on extinguishment of debt	-$504.0K	$0	-$213.0K
Net increase (decrease) in net assets resulting from operations	-$33.1M	$28.4M	-$465.0K
Net investment income per common share - basic (in usd per share)	$0.92	$1.25	$1.50	$1.37	$1.00
Net investment income per common share - diluted (in usd per share)	$0.92	$1.25	$1.50
Net increase (decrease) in net assets resulting from operations per common share - basic (in usd per share)	-$2.47	$2.12	-$0.04
Net increase (decrease) in net assets resulting from operations per common share - diluted (in usd per share)	-$2.47	$2.12	-$0.04
Distributions declared per common share (in usd per share)	$1.19	$1.36	$1.34
Basic weighted-average common shares outstanding (in shares)	13.4M shares	13.4M shares	13.4M shares	13.4M shares	13.4M shares
Diluted weighted-average common shares outstanding (in shares)	13.4M shares	13.4M shares	13.4M shares	13.4M shares	13.4M shares

Total assets⁴⁵⁶⁷$346.7M in 2025−39% since 2021

Total liabilities⁴⁵⁶⁷$223.5M in 2025−39% since 2021

Shareholders’ equity⁵⁶⁷$123.2M in 2025−26% since 2019

Cash⁴⁵⁶⁷$3.4M in 2025−75% since 2019

Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 6 quarters (quarterly), latest first.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Investments, at fair value	$342.0M	$409.7M
Cash and cash equivalents	$3.4M	$6.1M
Receivable for investments sold	$0	$9.2M
Interest and dividend receivable	$719.0K	$1.8M
Prepaid expenses and other assets	$613.0K	$1.4M
Total assets	$346.7M	$428.1M
Revolving lines of credit	$55.5M	$68.3M
Unsecured Notes (net of discounts and deferred debt issuance costs of $2,812 and $1,688, respectively)	$162.2M	$178.3M
Interest payable	$2.3M	$3.2M
Payable for investments purchased	$0	$1.8M
Total liabilities	$223.5M	$255.9M
Preferred stock, par value of $0.01 per share, 2,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	$0	$0
Common stock, par value of $0.01 per share, 100,000,000 shares authorized, 13,398,078 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	$134.0K	$134.0K
Paid-in capital in excess of par	$174.2M	$184.9M
Total distributable earnings (accumulated losses)	-$51.1M	-$12.8M
Total net assets	$123.2M	$172.2M	$162.0M	$180.4M	$203.7M
Total liabilities and net assets	$346.7M	$428.1M
Net asset value per share (in usd per share)	$9.19	$12.85	$12.09	$13.47	$15.18
Investments, amortized cost	$328.4M	$363.5M
Preferred stock, par value (in usd per share)	$0.01	$0.01
Preferred stock, authorized (in shares)	2.0M shares	2.0M shares
Preferred stock, issued (in shares)	0 shares	0 shares
Preferred stock, outstanding (in shares)	0 shares	0 shares
Common stock, par value (in usd per share)	$0.01	$0.01
Common stock, authorized (in shares)	100.0M shares	100.0M shares
Common stock, issued (in shares)	13.4M shares	13.4M shares
Common stock, outstanding (in shares)	13.4M shares	13.4M shares	13.4M shares	13.4M shares	13.4M shares

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Investments, at fair value	$342.0M	$409.7M
Cash and cash equivalents	$3.4M	$6.1M
Receivable for investments sold	$0	$9.2M
Interest and dividend receivable	$719.0K	$1.8M
Prepaid expenses and other assets	$613.0K	$1.4M
Total assets	$346.7M	$428.1M
Revolving lines of credit	$55.5M	$68.3M
Unsecured Notes (net of discounts and deferred debt issuance costs of $2,812 and $1,688, respectively)	$162.2M	$178.3M
Interest payable	$2.3M	$3.2M
Payable for investments purchased	$0	$1.8M
Total liabilities	$223.5M	$255.9M
Preferred stock, par value of $0.01 per share, 2,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	$0	$0
Common stock, par value of $0.01 per share, 100,000,000 shares authorized, 13,398,078 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	$134.0K	$134.0K
Paid-in capital in excess of par	$174.2M	$184.9M
Total distributable earnings (accumulated losses)	-$51.1M	-$12.8M
Total net assets	$123.2M	$172.2M	$162.0M	$180.4M	$203.7M
Total liabilities and net assets	$346.7M	$428.1M
Net asset value per share (in usd per share)	$9.19	$12.85	$12.09	$13.47	$15.18	$11.85
Investments, amortized cost	$328.4M	$363.5M
Preferred stock, par value (in usd per share)	$0.01	$0.01
Preferred stock, authorized (in shares)	2.0M shares	2.0M shares
Preferred stock, issued (in shares)	0 shares	0 shares
Preferred stock, outstanding (in shares)	0 shares	0 shares
Common stock, par value (in usd per share)	$0.01	$0.01
Common stock, authorized (in shares)	100.0M shares	100.0M shares
Common stock, issued (in shares)	13.4M shares	13.4M shares
Common stock, outstanding (in shares)	13.4M shares	13.4M shares	13.4M shares	13.4M shares	13.4M shares

Cash from operations⁴⁵⁶⁷$43.6M in 2025−46% since 2020

Dividends paid⁴⁵⁶⁷$15.9M in 2025+567% since 2020

Every line of the cash flow as filed: the last 3 fiscal years, latest first.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Net increase (decrease) in net assets resulting from operations	-$33.1M	$28.4M	-$465.0K
Net realized loss on investments, net of taxes	$12.2M	$17.1M	$11.4M
Net unrealized (appreciation) depreciation on investments, net of deferred taxes	$32.8M	-$28.9M	$9.0M
Loss on extinguishment of debt	$504.0K	$0	$213.0K
Amortization of deferred debt issuance costs	$1.6M	$1.5M	$1.5M
Write-off of deferred offering costs	$0	$99.0K	$0
Amortization of intangible asset	$0	$69.0K	$408.0K
Amortization of Net Loan Fees	-$983.0K	-$1.6M	-$1.8M
Amendment fees received	$58.0K	$281.0K	$250.0K
Payment-in-kind interest and dividend income	-$2.7M	-$2.7M	-$2.6M
Accretion of interest income on Structured Finance Securities	-$11.6M	-$8.7M	-$10.9M
Purchase and origination of portfolio investments	-$50.5M	-$93.4M	-$41.7M
Proceeds from principal payments on portfolio investments	$26.9M	$67.1M	$83.0M
Proceeds from sale or redemption of portfolio investments	$46.8M	$46.1M	$18.9M
Distributions received from portfolio investments	$14.9M	$15.6M	$14.5M
Interest and dividend receivable	$1.1M	$443.0K	-$15.0K
Receivable for investments sold	$9.2M	-$9.2M	$0
Interest payable	-$926.0K	-$517.0K	-$235.0K
Payable to investment adviser and affiliates	-$881.0K	-$411.0K	-$353.0K
Payable for investments purchased	-$1.8M	$1.8M	$0
Other assets and liabilities	$100.0K	-$92.0K	$432.0K
Net cash provided by operating activities	$43.6M	$33.0M	$81.6M
Distributions paid to common stockholders	-$15.9M	-$18.2M	-$18.0M
Borrowings under revolving lines of credit	$27.4M	$17.5M	$26.6M
Repayments under revolving lines of credit	-$40.4M	-$39.6M	-$40.8M
Proceeds from Unsecured Notes issuances, net of commissions and discounts	$91.9M	$0	$0
Redemption of Unsecured Notes	-$109.0M	$0	$0
Repayments of SBA debentures	$0	-$31.9M	-$19.0M
Payments of deferred debt issuance costs	-$374.0K	$0	$0
Net cash used in financing activities	-$46.3M	-$72.3M	-$51.2M
Net increase (decrease) in cash and cash equivalents	-$2.7M	-$39.3M	$30.4M
Cash paid for interest	$15.9M	$15.7M	$18.2M
Cash paid for taxes	$21.0K	$182.0K	$31.0K
Reclassification of deferred offering costs from the issuance of Unsecured Notes	$52.0K	$0	$0

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Leadership

Who has led OFS Capital Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

Chief financial officer

201520202025

Chief executive officerBilal Rashid Nov 13, 2020 to Nov 13, 2020¹⁰
Chief executive officerGlenn R. Pittson Nov 7, 2012 to Jun 5, 2014¹¹
Chief financial officerJeffrey A. Cerny Jul 11, 2014 to Nov 13, 2020¹²
Chief financial officerRobert S. Palmer Nov 7, 2012 to Nov 7, 2012¹³

Board members and other officers (13)

Chief Accounting OfficerKyle Spina Apr 25, 2023 to Apr 25, 2023¹⁴
Chief Accounting OfficerRoss Teune Mar 25, 2022 to Mar 25, 2022¹⁵
Chief Compliance OfficerMukya Porter May 5, 2017 to Nov 19, 2020¹⁶
Chief Accounting OfficerBei Zhang Nov 7, 2012 to Nov 7, 2012¹⁷
Chief Compliance OfficerEric P. Rubenfeld Nov 7, 2012 to Sep 2, 2015¹⁸
Board memberAshwin Ranganathan Jan 6, 2022 to Jan 6, 2022¹⁹
Board memberRomita Shetty Jan 15, 2021 to Jan 15, 2021²⁰
Board memberJeffrey A. Cerny Nov 13, 2020 to Nov 13, 2020²¹
Board memberBilal Rashid Nov 7, 2012 to Nov 13, 2020²²
Board memberElaine Healy Nov 7, 2012 to Nov 24, 2020²³
Board memberGlenn R. Pittson Nov 7, 2012 to Aug 28, 2014¹¹
Board memberMarc Abrams Nov 7, 2012 to Dec 12, 2013²⁴
Board memberRobert J. Cresci Nov 7, 2012 to Nov 7, 2012²⁵

Former names

OFS Capital, LLCApr 29, 2010 to Nov 5, 2012²

Timeline

Nov 13, 2020New chief executive Bilal Rashid becomes CEO¹⁰
Nov 7, 2012New chief executive Glenn R. Pittson becomes CEO¹¹

Filings

185 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 62 major events, 6 insider forms, 2 large holders, 95 other. The latest 20:

Oct 6, 20268-K EDGAR
Aug 28, 2026N-23C-2 EDGAR
Aug 28, 20268-K EDGAR
Aug 11, 20268-K EDGAR
Jul 31, 202610-Q EDGAR
Jul 30, 20268-K EDGAR
Jul 30, 2026DEFA14A EDGAR
Jul 22, 2026DEFA14A EDGAR
Jul 9, 2026DEFA14A EDGAR
Jul 1, 2026DEFA14A EDGAR
Jun 17, 2026DEFA14A EDGAR
Jun 10, 2026DEFA14A EDGAR
Jun 10, 20268-K EDGAR
May 28, 2026DEFA14A EDGAR
May 15, 2026DEFA14A EDGAR
May 1, 202610-Q EDGAR
Apr 30, 20268-K EDGAR
Apr 29, 2026DEFA14A EDGAR
Apr 29, 2026DEF 14A EDGAR
Apr 29, 2026ARS EDGAR

The 185 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Orchard First Source Asset Management Holdings, LLCSC 13D/A, 2 filings Jan 10, 2023 to Jul 5, 2023²⁶

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Callodine Capital Management, LP	107,346	$380.0K	0.0%	New
International Assets Investment Management, LLC	98,647	$352.2K	0.0%	−11,301
Virtus Investment Advisers, LLC	90,189	$319.3K	0.1%	−2,476
Curi Capital, LLC	65,000	$230.1K	0.0%	New
Vident Advisory, LLC	41,780	$147.9K	0.0%	−7,457
Concorde Asset Management, LLC	33,550	$123.9K	0.1%	+15,450
O'shaughnessy Asset Management, LLC	34,826	$123.3K	0.0%	−26,355
Morgan Stanley	27,562	$97.6K	0.0%	−12,001
Arkadios Wealth Advisors	26,786	$94.8K	0.0%	−9,002
SOA Wealth Advisors, LLC.	19,672	$69.6K	0.0%	No change
&partners	13,500	$47.8K	0.0%	No change
Prota Financial, LLC	12,950	$46.4K	0.0%	No change
Sanctuary Advisors, LLC	12,102	$42.8K	0.0%	No change
Royal Bank Of Canada	7,500	$27.0K	0.0%	−3,000
LGT Financial Advisors LLC	3,085	$10.9K	0.1%	No change
UBS Group AG	1,382	$4.9K	0.0%	−20,378
Osaic Holdings, Inc.	1,106	$3.9K	0.0%	No change
Lanark Financial, Inc.	809	$2.9K	0.0%	No change
Simplex Trading, LLC	740	$2.6K	0.0%	−1,211
Triumph Capital Management	500	$1.8K	0.0%	No change
Janney Montgomery Scott LLC	11,750	$42	0.0%	−1,500
Caitong International Asset Management Co., Ltd	3	$11	0.0%	No change
Wells Fargo & Company/mn	0	$0	0.0%	−2

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGAROFS Capital Corp filings on SEC EDGAR
2
SEC EDGAROFS Capital Corp filings on SEC EDGAR
3
SEC EDGAROFS Capital Corp annual report, Item 1 (Business)
4
SEC EDGAROFS Capital Corp 10-K for fiscal 2020
5
SEC EDGAROFS Capital Corp 10-K for fiscal 2021
6
SEC EDGAROFS Capital Corp 10-K for fiscal 2022
7
SEC EDGAROFS Capital Corp 10-K for fiscal 2023
8
SEC EDGAROFS Capital Corp 10-Q for fiscal 2026
9
SEC EDGAROFS Capital Corp 10-Q for fiscal 2026
10
SEC EDGARBilal Rashid, Chief executive officer
11
SEC EDGARGlenn R. Pittson, Chief executive officer
12
SEC EDGARJeffrey A. Cerny, Chief financial officer
13
SEC EDGARRobert S. Palmer, Chief financial officer
14
SEC EDGARKyle Spina, Chief Accounting Officer
15
SEC EDGARRoss Teune, Chief Accounting Officer
16
SEC EDGARMukya Porter, Chief Compliance Officer
17
SEC EDGARBei Zhang, Chief Accounting Officer
18
SEC EDGAREric P. Rubenfeld, Chief Compliance Officer
19
SEC EDGARAshwin Ranganathan, Board member
20
SEC EDGARRomita Shetty, Board member
21
SEC EDGARJeffrey A. Cerny, Board member
22
SEC EDGARBilal Rashid, Board member
23
SEC EDGARElaine Healy, Board member
24
SEC EDGARMarc Abrams, Board member
25
SEC EDGARRobert J. Cresci, Board member
26
SEC EDGAROrchard First Source Asset Management Holdings, LLC SC 13D/A on OFS Capital Corp