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O•••••• S•••••••• L•••••• C•••

Business development companymanaged by O•••••• F••• A•••••••• L••Listed: OCSL· LOS ANGLES, CA

A business development company traded as OCSL, managed by O•••••• F••• A•••••••• L••, holding $2.7B across 171 borrowers at Jun 30, 2026.

Composed from this BDC's filings and its latest schedule of investments.

As of 2026-06-30 · the latest schedule of investments read for this BDC

Fair value: $2.7B
Borrowers: 171
Mark on cost: 93.7¢
First lien: 81%

Schedule of investments (461)Quarter by quarter Sponsors

As of 2026-06-30 · the latest schedule of investments read for this BDC

What matters now

$151M
on non-accrual, 5 borrowers
5 borrowers on non-accrual, $151M principal; the largest is D•••••• H•••••••• L•• ($43.6M).
Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.
FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen D•••••• H•••••••• L•• →
24 below 80¢
$186M principal
24 positions across 10 borrowers marked below 80¢ on cost, $186M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026
40 → 46
loans paying in kind
Loans paying in kind rose from 40 to 46 positions in the quarter to Jun 30, 2026.
Q2 2026 · Borrowers paying interest in more debt rather than cash is an early sign of strain.
Factthe schedule's PIK rates, quarter on quarterQuarter by quarter →
92.6¢ → 93.7¢
book mark on cost
Marked its book up from 92.6¢ to 93.7¢ on the dollar in the quarter to Jun 30, 2026.
Q2 2026 · The whole portfolio was marked up.
Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →
166 → 171
borrowers
Added a net 5 borrowers in the quarter to Jun 30, 2026, to 171.
Q2 2026 · The book is turning over faster than usual.
Factthe schedule's borrowers, quarter on quarterSchedule of investments →

Every headline figure, and the identifiersCIK 1414932 · file 814-00755Show

Fair value

$2.7B

as of Jun 30, 2026

Principal held

$2.8B

debt pieces, the filer's figure

Cost

$3.0B

94c on cost, debt pieces

Unfunded

$235M

commitments not yet drawn

Positions

461

171 borrowers

First lien

81%

96% debt by fair value

Quarters on the tape

since Sep 30, 2021

Facilities held

342

20 sponsors financed

Portfolio through time

Fair value by quarter end$2.7B as of Jun 30, 2026

Sep 30, 2021$578M then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$2.7B	171	94c	46	570 bp
Mar 31, 2026	$2.8B	166	93c	40	570 bp
Dec 31, 2025	$3.0B	169	94c	44	578 bp
Sep 30, 2025	$2.9B	173	94c	41	597 bp

All 20 quarters

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2025	$2.9B	159	95c	42	614 bp
Mar 31, 2025	$3.3B	157	95c	53	616 bp
Dec 31, 2024	$3.0B	138	97c	46	611 bp
Sep 30, 2024	$3.4B	168	97c	40	630 bp
Jun 30, 2024	$3.2B	164	96c	39	668 bp
Mar 31, 2024	$3.2B	154	96c	30	684 bp
Dec 31, 2023	$3.2B	148	96c	27	707 bp
Sep 30, 2023	$3.3B	171	96c	39	704 bp
Jun 30, 2023	$3.3B	158	96c	24	700 bp
Mar 31, 2023	$3.2B	166	96c	25	690 bp
Dec 31, 2022	$2.9B	160	97c	18	670 bp
Sep 30, 2022	$5.0B	178	96c	27	674 bp
Jun 30, 2022	$246M	6	n/a	0	565 bp
Mar 31, 2022	Not disclosed	6	n/a	0	565 bp
Dec 31, 2021	Not disclosed	7	n/a	0	604 bp
Sep 30, 2021	$578M	6	n/a	0	559 bp

Sponsors financed

No borrower on this schedule has a sponsor attribution yet.

What changed

New lender joined a facilityJun 30, 2026
••• Locked
New lender joined a facilityJun 30, 2026
••• Locked
New borrower on a BDC scheduleJun 30, 2026
••• Locked
New borrower on a BDC scheduleJun 30, 2026
••• Locked
New lender joined a facilityJun 30, 2026
••• Locked

Full timeline · 20 events

New lender joined a facilityJun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
PIK interest appearsJun 30, 2026
••• Locked
PIK interest appearsJun 30, 2026
••• Locked
PIK interest appearsJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked

Every position change, including routine ones

Largest facilities held, with co-lenders

E••••• B•••• A• first lien term loan
2 BDCs hold it · matures Sep 22, 2032
$88.3M 97c
O••• G•••• J• L•• unsecured or subordinated subordinated debt
1 BDC hold it · matures Oct 20, 2030
$58.3M 76c
M•• S••••••• L•• first lien term loan
31 BDCs hold it · matures Feb 29, 2028
$56.5M 98c
D••••••••• S••••••• H•••••••• I•• first lien term loan
3 BDCs hold it · matures Aug 10, 2028
$56.4M 93c
K•••• B••••• L•• first lien term loan
4 BDCs hold it · matures Oct 29, 2027
$53.2M 95c
P••••• C••• C••••••• L•• first lien term loan
25 BDCs hold it · matures Nov 15, 2030
$51.3M 91c
S••••• B•••• I• I•• first lien term loan
7 BDCs hold it · matures Jan 30, 2032
$48.1M 100c
A•••••• N••••••••• M•••• 2• B•• first lien term loan
8 BDCs hold it · matures May 29, 2031
$47.7M 101c
A••••• B•••• I•• first lien term loan
7 BDCs hold it · matures Dec 31, 2027
$46.7M 101c
D•••• L•••••• S•• I• L•• unsecured or subordinated term loan
2 BDCs hold it · matures Aug 31, 2029
$45.0M 100c
B••••• F••• • B•••••••• L•• first lien term loan
2 BDCs hold it · matures Jul 30, 2027
$43.9M 98c
S••••••• C••••••••• L•• first lien term loan
4 BDCs hold it · matures Apr 1, 2030 · possible sponsor A•••• A••••••••• L••
$41.3M 100c

Schedule of investments at Dec 31, 2024

389 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
K••• M•••• I• I••• R••••••• & C••••••••• Services	term loan first lien	$0	-$17,000 94c	S+500 bp	Dec 2, 2031
T••••••••• C••• L•• C••••••••• M•••••••• & H•••• T••••••••• E••••••••	revolver first lien	$0	-$17,000 35c	S+575 bp	Feb 13, 2030
T•••• I••• H••••• C••• S•••••••	term loan first lien	$0	-$21,000 100c	S+475 bp	Nov 22, 2031
B••••• F••• • B•••••••• L••• S••• D••••• • N••••••••• B••••••••	revolver first lien	$0	-$27,000 142c	S+550 bp	Jul 30, 2026
E••••••• E•• C••• H••••• L•• H••••• C••• Services	term loan first lien	$67,000	-$32,000	S+550 bp	Oct 5, 2029
C••••••• B••••• I••• Systems S•••••••	revolver first lien	$0	-$33,000 72c	S+675 bp	Nov 8, 2030
M•••••••• I••• I••••••• Services & I•••••••••	revolver first lien	$0	-$34,000 243c	S+700 bp	Sep 30, 2025
P•••••• F•• P••• O•••• L•• P••••••• F•••• & M••••	revolver first lien	$0	-$39,000 105c	S+525 bp	Sep 20, 2030
A•••• H•••••• 4• S••••••• H••••• C••• Services	term loan first lien	$0	-$40,000 89c	S+575 bp	Sep 27, 2031
I•••••••• M•••••••• A••••••••• L•• I•••••••• B••••••	term loan first lien	$0	-$41,000 65c	S+500 bp	Aug 25, 2028
S•••••• F•••••• G•••• N• H•••••••• L•• L•••••• F•••••••••	revolver first lien	$0	-$42,000 600c	S+700 bp	Dec 31, 2026
I••••••• P••••• I••• E••••••••• C••••••••• & E••••••••	revolver first lien	$0	-$57,000 204c	S+750 bp	Jun 30, 2025
P••••••• M•••• A• P•••••••••	term loan first lien	$0	-$76,000	S+550 bp	May 16, 2031
S••••••• C••••••••• L•• C••••••••• E••••••••	revolver first lien	$0	-$82,000 88c	S+575 bp	Apr 19, 2029
P•• A••• B••••• I••• A•••••••• & D••••••	term loan first lien	$0	-$112,000 158c	S+550 bp	Feb 15, 2029
A••• H•••••• C••••• S••••••••• C••••••• Services	revolver first lien	$0	-$117,000 98c	S+500 bp	Dec 5, 2029
C•••• P•••••• I••• L••• S••••••• T•••• & Services	revolver first lien	$0	-$120,000 100c	S+525 bp	Dec 18, 2031
P••••• C••• C••••••• L•• H••••• C••• Services	term loan first lien	$0	-$124,000 180c	S+600 bp	Nov 15, 2030
P••••• C••• C••••••• L•• H••••• C••• Services	revolver first lien	$0	-$124,000 112c	S+600 bp	Nov 15, 2029
P•••••• F•• P••• O•••• L••	unstated lien unstated	Not disclosed	Not disclosed		May 31, 2024
S••••••••• H••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
P••••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
P•• A••• B••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
K••• M•••• I• I•••	unstated lien unstated	Not disclosed	Not disclosed
I••••••• P••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
I•••••• P•••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
B•••••• T••••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
A••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
B••••• F••• • B•••••••• L••	unstated lien unstated	Not disclosed	Not disclosed		Jul 30, 2027
K•••• B••••• L••	unstated lien unstated	Not disclosed	Not disclosed
A••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
A••• H•••••• C••••	unstated lien unstated	Not disclosed	Not disclosed
M••••••• A••••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
D••••••• D••••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
C•••• H•••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
A••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
W• C•• H•••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
O••••• H•••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
L•• H•••••• L••	unstated lien unstated	Not disclosed	Not disclosed
F••••••• U••• I•••	unstated lien unstated	Not disclosed	Not disclosed
E•••••••• I• B••••••• 2•••• L••	unstated lien unstated	Not disclosed	Not disclosed
I•••••••• M•••••••• A••••••••• L••	unstated lien unstated	Not disclosed	Not disclosed		Aug 25, 2028
D••••••••• S••••••• H•••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
E••••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
Q•••••• B•••• L••••••	unstated lien unstated	Not disclosed	Not disclosed
D•••• L•••••• S•• I• L••	unstated lien unstated	Not disclosed	Not disclosed
1•• F••• S••••• L••	unstated lien unstated	Not disclosed	Not disclosed
P••• G•••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
S•••••• F•••••• G•••• N• H•••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
S•••• H••••••• L•••••••••	unstated lien unstated	Not disclosed	Not disclosed
N••• H•••••• L••	unstated lien unstated	Not disclosed	Not disclosed
L•••••• H••••••••• H•••••• C••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
M•••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
O••• G•••• J• L••	unstated lien unstated	Not disclosed	Not disclosed
H•••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
E••••••• E•• C••• H••••• L••	unstated lien unstated	Not disclosed	Not disclosed
V••••• P•••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
S••••••• C••••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
M•• I••••••••• H•••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
A••••• P••••• L••	unstated lien unstated	Not disclosed	Not disclosed
A•• W•• L••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
A•••• H•••••• 4• S•••••••	unstated lien unstated	Not disclosed	Not disclosed
T•••• I•••	unstated lien unstated	Not disclosed	Not disclosed
M•• S••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
G•••••• P•••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
A•••••••• R••• M••••••••• G••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
S••• M•••••• P•••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
1•••••• B•••• O•••• L••	unstated lien unstated	Not disclosed	Not disclosed
G•••• H•••• P••••• O••••• L••	unstated lien unstated	Not disclosed	Not disclosed
P••••• C••• C••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
U••• H•••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
A•••••••• A••••••••• C• L••	unstated lien unstated	Not disclosed	Not disclosed
T••••••••• C••• L••	unstated lien unstated	Not disclosed	Not disclosed		Dec 14, 2026
O••••••••• N•••• A•••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
D•••••• H•••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
T••••••••• H••••••• C•••••••••	unstated lien unstated	Not disclosed	Not disclosed
S•••• W••••••• C••••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
P••••••• M•••• A•	unstated lien unstated	Not disclosed	Not disclosed
E••••••••• L••• H••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
S••••• L••• F••• J• I• L••	term loan lien unstated	Not disclosed	Not disclosed
C••••••• B••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
i••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
E•••••• H•••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed		Dec 24, 2029
M••••••• I•••••• H••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
T•••••••• a•• D••• S••••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
C••••••••• T••••••••• L••	unstated lien unstated	Not disclosed	Not disclosed
S••••• L••	unstated lien unstated	Not disclosed	Not disclosed
C•••• P•••••• I•••	unstated lien unstated	Not disclosed	Not disclosed
1•••••• V•• H••••• R••••• L••	unstated lien unstated	Not disclosed	Not disclosed

Page 4 of 4Previous

Registration

Fiscal year end: 0930reported
Incorporated: DEreported
On the SEC BDC report: 2012 to 2026reported
Filings listed: 19reported10-Q and 10-K since 2022
Former names: Fifth Street Finance Corp.; Fifth Street Finance Corpreported
Latest schedule: 0001414932-26-000017reported