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OFS on Nasdaq

OFS Capital Corp

OFS Capital Corp is a company based in Chicago listed on Nasdaq (OFS).1

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Last updated Oct 21, 2026.

Overview

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  • 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
-$50.0M-$25.0M0$25.0M$50.0M$75.0M2020: $3.7M$3.7M20202021: $56.9M$56.9M2021+1439%2022: -$7.6M-$7.6M20222023: -$465.0K-$465.0K2023−94%2024: $28.4M$28.4M20242025: -$33.1M-$33.1M2025

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

Period ending2025-12-312024-12-312023-12-312022-12-312021-12-31
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 shares13.4M shares13.4M shares13.4M shares13.4M shares
Diluted weighted-average common shares outstanding (in shares)13.4M shares13.4M shares13.4M shares13.4M shares13.4M shares

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Corporate structure

OFS Capital Corp sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of OFS Capital Corp

  • OFS Capital Corp Chicago, Illinois

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What OFS Capital Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$3.4M7 Dec 31, 2025$6.1M7 Dec 31, 2024−44.6%

Properties, in its own words

We do not own or lease any real estate or other physical properties material to our operation. Our headquarters are located at 222 W. Adams Street, Suite 1850, Chicago, IL, 60606, and are provided by OFS Services pursuant to the Administration Agreement. Additional operations are conducted from offices in New York, New York and Los Angeles, California, which are also provided by OFS Services pursuant to the Administration Agreement. We believe that our office facilities are suitable and adequate for our business as we contemplate continuing to conduct it.

Item 2 of the 10-K filed Mar 3, 2026.3

Leadership

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

Chief executive

  1. Glenn R. Pittson2012–2014
  2. Bilal Rashid2020

Chief financial officer

  1. Robert S. Palmer2012
  2. Jeffrey A. Cerny2014–2020
201520202025
Board members and other officers (13)

Former names

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

Timeline

  1. Oct 6, 20268-K Other events26
  2. Aug 28, 20268-K Other events27
  3. Aug 11, 20268-K Other events28
  4. Jul 30, 20268-K Results of operations29
  5. Jun 10, 20268-K Shareholder vote30
  6. Apr 30, 20268-K Results of operations31
  7. Mar 27, 20268-K Entered a material agreement32
  8. Mar 2, 20268-K Results of operations33
  9. Feb 20, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation34
  10. Jan 9, 20268-K Entered a material agreement35
  11. Jan 8, 20268-K Other events36
  12. Nov 28, 20258-K Other events37
  13. Nov 13, 2020New chief executive Bilal Rashid becomes CEO10
  14. Nov 7, 2012New chief executive Glenn R. Pittson becomes CEO11

Calendar

Coming up

  1. Oct 29, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.22 a share, on Oct 30, 2025.38

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results29
  2. Apr 30, 2026Reported quarterly or annual results31
  3. Mar 2, 2026Reported quarterly or annual results33
  4. Oct 30, 2025Reported quarterly or annual results39
  5. Jul 31, 2025Reported quarterly or annual results40
  6. Jul 15, 2025Reported quarterly or annual results41
  7. May 1, 2025Reported quarterly or annual results42
  8. Mar 3, 2025Reported quarterly or annual results43

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

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:

  1. Oct 6, 20268-K EDGAR
  2. Aug 28, 2026N-23C-2 EDGAR
  3. Aug 28, 20268-K EDGAR
  4. Aug 11, 20268-K EDGAR
  5. Jul 31, 202610-Q EDGAR
  6. Jul 30, 20268-K EDGAR
  7. Jul 30, 2026DEFA14A EDGAR
  8. Jul 22, 2026DEFA14A EDGAR
  9. Jul 9, 2026DEFA14A EDGAR
  10. Jul 1, 2026DEFA14A EDGAR
  11. Jun 17, 2026DEFA14A EDGAR
  12. Jun 10, 2026DEFA14A EDGAR
  13. Jun 10, 20268-K EDGAR
  14. May 28, 2026DEFA14A EDGAR
  15. May 15, 2026DEFA14A EDGAR
  16. May 1, 202610-Q EDGAR
  17. Apr 30, 20268-K EDGAR
  18. Apr 29, 2026DEFA14A EDGAR
  19. Apr 29, 2026DEF 14A EDGAR
  20. 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.

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.

FundSharesValueShare of the fundChange
Callodine Capital Management, LP107,346$380.0K0.0%New
International Assets Investment Management, LLC98,647$352.2K0.0%−11,301
Virtus Investment Advisers, LLC90,189$319.3K0.1%−2,476
Curi Capital, LLC65,000$230.1K0.0%New
Vident Advisory, LLC41,780$147.9K0.0%−7,457
Concorde Asset Management, LLC33,550$123.9K0.1%+15,450
O'shaughnessy Asset Management, LLC34,826$123.3K0.0%−26,355
Morgan Stanley27,562$97.6K0.0%−12,001
Arkadios Wealth Advisors26,786$94.8K0.0%−9,002
SOA Wealth Advisors, LLC.19,672$69.6K0.0%No change
&partners13,500$47.8K0.0%No change
Prota Financial, LLC12,950$46.4K0.0%No change
Sanctuary Advisors, LLC12,102$42.8K0.0%No change
Royal Bank Of Canada7,500$27.0K0.0%−3,000
LGT Financial Advisors LLC3,085$10.9K0.1%No change
UBS Group AG1,382$4.9K0.0%−20,378
Osaic Holdings, Inc.1,106$3.9K0.0%No change
Lanark Financial, Inc.809$2.9K0.0%No change
Simplex Trading, LLC740$2.6K0.0%−1,211
Triumph Capital Management500$1.8K0.0%No change
Janney Montgomery Scott LLC11,750$420.0%−1,500
Caitong International Asset Management Co., Ltd3$110.0%No change
Wells Fargo & Company/mn0$00.0%−2

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

SEC filer profile

How OFS Capital Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAROFS Capital Corp1
  • CIK0001487918
  • Employer ID (EIN)46-13396393
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Business address222 West Adams Street, Suite 1850, Chicago, IL 606061
  • Phone847-734-20001
  • Shares outstanding13,398,078 as of Jul 27, 20269
  • Public float$87.5M as of Jun 30, 20253
  • AuditorKPMG LLP’s, Chicago, Illinois PCAOB ID 185; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceApr 29, 20101
  • Filings543 in all: 8-K (143), DEFA14A (53), 10-Q (42), CORRESP (36), 497AD (28), DEF 14A (21), N-2/A (21), 3 (20)1
    All 40 form types

    4 (16), 10-K (14), 40-17G (14), EFFECT (10), 497 (9), N-23C-2 (9), 424B2 (8), N-2 (8), POS EX (8), 40-APP/A (7), 8-A12B (7), N-6F/A (7), PRE 14A (7), SC 13G/A (7), CERT (6), FWP (5), SC 13G (5), 40-APP (4), ARS (4), POS 8C (4), 25-NSE (3), SC 13D/A (3), 424B5 (2), APP NTC (2), APP ORDR (2), UPLOAD (2), 8-K/A (1), CERTNAS (1), N-54A (1), N-6F (1), RW (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Mar 3, 2026
    Quarterly report (10-Q) Jul 31, 2026
    Proxy statement (DEF 14A) Apr 29, 2026
    Latest 8-K (8-K) Oct 6, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par value per shareOFSThe Nasdaq Global Select Market
4.95% Notes due 2028OFSSHThe Nasdaq Global Select Market
7.50% Notes due 2028OFSSOThe Nasdaq Global Select Market

From the cover page of the 10-K filed Mar 3, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks OFS Capital Corp names in Item 1A of its 10-K filed Mar 3, 2026: 76 risks under these headings, as written.3

  • We are subject to risks related to our business and structure.
  • We are subject to risks related to OFS Advisor and its Affiliates.
  • We are subject to risks related to our investments.
  • We are subject to risks related to our securities and an investment in our common stock.
  • Risks Related to Our Business and Structure
  • Global economic, political and market conditions may adversely affect our business, our ability to secure debt financing, and our results of operations and financial condition, including our revenue growth and profitability.
  • Events outside of our control, including public health crises, rapidly changing interest and inflation rates and significant market volatility, have negatively affected, and could continue to negatively affect, our investments and our results of operations.
  • Due to economic disruptions, we may not be able to increase our dividends and may reduce or defer our dividends and choose to incur U.S. federal excise tax in order to preserve cash and maintain flexibility.
  • We are dependent upon the OFSC senior professionals for our future success and upon their access to the investment professionals and partners of OFSAM and its affiliates.
  • Our business model depends to a significant extent upon strong referral relationships with financial institutions, sponsors and investment professionals. Any inability of OFS Advisor to maintain or develop these relationships, or the failure of these relationships to generate investment opportunities, could adversely affect our business.
  • Our financial condition and results of operation will depend on our ability to manage our business effectively.
  • To the extent PIK interest and PIK dividends constitute a portion of our income, we will be required to include such income in taxable and accounting income prior to receipt of cash representing such income.
The other 65 risks
  • A significant amount of our portfolio investments are recorded at fair value and OFS Advisor, our “valuation designee,” determines the fair value of our investments in good faith pursuant to Rule 2a-5 under the 1940 Act. As a result, there will be uncertainty as to the value of our portfolio investments and the participation of OFS Advisor’s professionals in our valuation process could result in a conflict of interest.
  • We may finance our investments with borrowed money, which magnifies the potential for gain or loss on amounts invested and may increase the risk of investing in us.
  • Insufficient cash flows may increase our risk of default of our debt obligations, including under our Unsecured Notes, our Natixis Facility and our Banc of California Credit Facility.
  • We are subject to reduced asset coverage for borrowings, which increases the maximum amount of leverage we may incur.
  • Changes in interest rates will affect our cost of capital and net investment income.
  • We may enter into reverse repurchase agreements, which are another form of leverage.
  • Our ability to enter into transactions involving derivatives and financial commitment transactions may be limited.
  • We may in the future determine to fund a portion of our investments with preferred stock, which would magnify the potential for gain or loss and the risks of investing in us in the same way as our borrowings.
  • We operate in a highly competitive market for investment opportunities, which could reduce returns and result in losses.
  • We may suffer credit losses.
  • We will be subject to U.S. federal income tax at corporate rates if we are unable to maintain our tax treatment as a RIC.
  • Our subsidiaries and portfolio companies may be unable to make distributions to us that will enable us to meet RIC requirements, which could result in the imposition of an entity-level tax.
  • We may have difficulty paying our required distributions if we recognize income before or without receiving cash representing such income.
  • In the future, we may choose to pay distributions in our own stock and stockholders may be required to pay tax in excess of the cash they receive.
  • Because we expect to distribute substantially all of our net ordinary income and net realized capital gains to our stockholders, we may need additional capital to finance our growth and such capital may not be available on favorable terms or at all.
  • Loss of tax treatment as a RIC would reduce our NAV and distributable income.
  • Our Banc of California Credit Facility contains various covenants and restrictions which, if not complied with, could accelerate our repayment obligations under the Banc of California Credit Facility or limit its use, thereby materially and adversely affecting our liquidity, financial condition, results of operations and ability to pay distributions.
  • Adverse developments in the credit markets may impair our ability to secure debt financing.
  • Ongoing developments in the banking sector could materially affect the success of our activities and investments.
  • Changes in the laws or regulations governing our business, or changes in the interpretations thereof, and any failure by us to comply with these laws or regulations, could have a material adverse effect on our, and our portfolio companies’ business, results of operations or financial condition.
  • We cannot predict how new tax legislation will affect us, our investments, or our stockholders, and any such legislation could adversely affect our business.
  • Changes to U.S. tariff and import/export regulations may have a negative effect on our portfolio companies and, in turn, harm us.
  • The effect of global climate change or the legal, regulatory or market responses to such change may impact the operations of our portfolio companies.
  • Our Board may change our investment objectives, operating policies and strategies without prior notice or stockholder approval.
  • Efforts to comply with the Sarbanes-Oxley Act involve significant expenditures, and non-compliance with Section 404 of the Sarbanes-Oxley Act, including a failure to maintain effective internal controls over financial reporting in accordance therewith, may adversely affect us and the market price of our securities.
  • Risks Related to OFS Advisor and its Affiliates
  • We have potential conflicts of interest related to obligations that OFS Advisor or its affiliates may have to other clients.
  • We have potential conflicts of interest related to the purchases and sales that OFS Advisor makes on our behalf and/or on behalf of Affiliated Accounts.
  • Our independent directors may face conflicts of interest related to their obligations to the Affiliated Funds for which they also serve as independent directors.
  • Members of the Advisor Investment Committees, OFS Advisor or its affiliates may, from time to time, possess material non-public information, limiting our investment discretion.
  • The valuation process for certain of our portfolio holdings may create a conflict of interest.
  • We may have additional conflicts related to other arrangements with OFS Advisor or its affiliates.
  • The Investment Advisory Agreement with OFS Advisor and the Administration Agreement with OFS Services were not negotiated on an arm’s length basis and may not be as favorable to us as if they had been negotiated with an unaffiliated third party.
  • Our ability to enter into transactions with our affiliates is restricted, which may limit the scope of investments available to us.
  • Our base management fee may induce OFS Advisor to cause us to incur leverage.
  • Our incentive fee may induce OFS Advisor to make certain investments, including speculative investments.
  • Our incentive fee structure may create incentives for OFS Advisor that are not fully aligned with the interests of our stockholders.
  • We may pay an incentive fee on income we do not receive in cash.
  • OFS Advisor’s liability is limited under the Investment Advisory Agreement, and we have agreed to indemnify OFS Advisor against certain liabilities, which may lead OFS Advisor to act in a riskier manner on our behalf than it would when acting for its own account.
  • OFS Advisor can resign on 60 days’ notice, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.
  • OFS Services can resign from its role as our Administrator under the Administration Agreement, and we may not be able to find a suitable replacement, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.
  • Risks Related to BDCs
  • Regulations governing our operation as a BDC affect our ability to and the way in which we raise additional capital. As a BDC, we will need to raise additional capital, which will expose us to risks, including the typical risks associated with leverage.
  • Our ability to invest in public companies may be limited in certain circumstances.
  • If we do not invest a sufficient portion of our assets in qualifying assets, we could fail to continue to qualify as a BDC or be precluded from investing according to our current business strategy.
  • Risks Related to Our Investments
  • Economic recessions or downturns could impair our portfolio companies and harm our operating results.
  • Our investments in the debt instruments of leveraged portfolio companies may be risky and, due to the significant volatility of such companies, we could lose all or part of our investment in bankruptcy proceedings or otherwise.
  • The effects of inflation may adversely affect the business, results of operations and financial condition of our portfolio companies.
  • Fluctuations in interest rates could have a material adverse effect on our business and that of our portfolio companies.
  • Any of our portfolio companies operating in the Health Care and Social Assistance industry are subject to extensive government regulation and certain other risks particular to that industry.
  • The documents governing our Broadly Syndicated Loans, the loans to our portfolio companies and the loans underlying our CLO investments may allow for “priming transactions.”
  • Our investments in private and middle-market portfolio companies are generally considered lower credit quality obligations, are generally illiquid, are risky, and we could lose all or part of our investment.
  • Investments in equity securities involve a substantial degree of risk.
  • Our equity ownership in a portfolio company may represent a control investment. Our ability to exit a control investment in a timely manner could result in a realized loss on the investment.
  • Our investments in Structured Finance Securities carry additional risks to the risks associated with investing in private debt.
  • Our investments in Structured Finance Securities are more likely to suffer a loss of all or a portion of their value in the event of a default.
  • We will have no influence on the management of underlying investments managed by non-affiliated third-party CLO collateral managers.
  • We may suffer a loss if a portfolio company defaults on a loan and the underlying collateral is not sufficient.
  • The lack of liquidity in our investments may adversely affect our business.
  • Price declines and illiquidity in the corporate debt markets may adversely affect the fair value of our portfolio investments, reducing our NAV through increased net unrealized depreciation.
  • We are a non-diversified management investment company within the meaning of the 1940 Act, and therefore we are not limited by the 1940 Act with respect to the proportion of our assets that may be invested in securities of a single issuer.
  • Our portfolio may be concentrated in a limited number of portfolio companies and industries, which will subject us to a risk of significant loss if any of these companies default on their obligations under any of their debt instruments or if there is a downturn in a particular industry.
  • Our failure to make follow-on investments in our portfolio companies could impair the value of our portfolio.
  • Because we generally do not hold controlling equity interests in our portfolio companies, we may not be able to exercise control over our portfolio companies or prevent decisions by management of our portfolio companies that could decrease the value of our investments.
  • Defaults by our portfolio companies will harm our operating results.
  • Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies.
  • If we make subordinated investments, the portfolio companies may not generate sufficient cash flow to service their debt obligations to us.

Legal proceedings

We, OFS Advisor and OFS Services, are not currently subject to any material pending legal proceedings threatened against us as of December 31, 2025. From time to time, we may be a party to certain legal proceedings incidental to the normal course of our business including the enforcement of our rights under contracts with our portfolio companies. Furthermore, third

parties may try to seek to impose liability on us in connection with the activities of our portfolio companies. While the outcome of these legal proceedings cannot be predicted with certainty, we do not expect that these proceedings will have a material effect upon our business, financial condition, results of operations or cash flows.

The opening of Item 3, Legal Proceedings.3

Sources

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    SEC EDGAROther events
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