Oaktree Specialty Lending (OCSL)
Provides flexible, customized credit solutions through an externally managed BDC structure.
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Provides customized credit to companies with limited access to public or syndicated capital markets. An externally managed BDC, it uses first- and second-lien loans, mezzanine lending, bonds, preferred equity and select co-investments to pursue income and capital appreciation.
Companies with limited access to public or syndicated capital markets receive customized, one-stop credit solutions. Flexible financing takes the form of first- and second-lien loans, unsecured and mezzanine loans, bonds, preferred equity and certain equity co-investments. Credit provision—not a conventional operating product catalog—is the core business.
Organized as an externally managed business development company, it seeks current income and capital appreciation from customized credit. Oaktree Fund Advisors supplies the investment-advisory function, linking the company to Oaktree's credit platform and value-oriented investment approach. Its BDC structure remains shaped by the external-adviser relationship.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| May 6, 2026 | Oppenheimer | Target | Target: $18 | Target: $13 |
| Feb 5, 2026 | Wells Fargo | Reiterate | Rating: —Target: $17 | Target: $12 |
| Nov 20, 2024 | JP Morgan | Downgrade | ||
| Nov 19, 2024 | JMP Securities | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $39.9M · Total debt $1.44B · Total assets $2.86B · Shareholders' equity $1.38B
- Revenue
- $61.6M
- Operating income
- $32.8M
- Net income
- $30.9M
HistoryDividendAnnual yield
| Institutions | 48.66% | 42.86M shares | |
|---|---|---|---|
| 173 holders · as of Jun 30, 2026 | |||
| Insiders | 0.23% | 200.7K shares | |
| 6 holders · as of Aug 13, 2026 | |||
| Other | 51.11% | 45.02M shares | |
| remainder | |||
88.09M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Oaktree Capital Management LPInstitution | 8.94% | 7.87M | as of Jun 30, 2026 |
Oaktree Capital I, L.P.Institution | 8.34% | 7.34M | filed Feb 10, 2025 |
Private Management Group IncInstitution | 4.39% | 3.87M | as of Jun 30, 2026 |
Royal Bank of CanadaInstitution | 3.32% | 2.92M | as of Jun 30, 2026 |
Bruni J V & Co /COInstitution | 2.81% | 2.47M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | Armen Panossian | officer: See Remarks | +1,700 | $12.69 |
| Mar 16, 2026 | Deborah Ann Gero | director | +2,000 | $10.78 |
| Mar 16, 2026 | Phyllis R. Caldwell | director | +2,500 | $10.77 |
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- Carlyle Secured Lending
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Oaktree Specialty Lending | $12.27 | −0.77% | $1.09B | 25.6 | 9.0 | 3.9 | +12.3% |
| Ares Capital | $19.26 | −0.54% | $13.90B | 14.3 | 10.0 | 6.0 | +32.6% |
| Blue Owl Capital | $11.02 | −1.12% | $5.53B | 19.9 | 8.6 | 3.9 | −20.8% |
| Blackstone Secured Lending Fund | $24.75 | +0.10% | $5.75B | 19.5 | 9.4 | 5.4 | +25.9% |
| FS KKR Capital | $11.26 | −0.44% | $3.17B | — | 7.2 | 3.3 | +11.5% |
| Golub Capital BDC | $12.51 | −0.16% | $3.26B | 22.8 | 9.7 | 4.6 | −14.2% |
| Carlyle Secured Lending | $11.32 | −1.35% | $797.1M | 22.5 | 7.9 | 3.3 | −3.7% |
| Median | 19.9 | 9.0 | 4.2 | +3.9% |