Company Quick10K Filing
Oaktree Strategic Income
10-Q 2020-06-30 Filed 2020-08-10
10-Q 2020-03-31 Filed 2020-05-07
10-Q 2019-12-31 Filed 2020-02-06
10-K 2019-09-30 Filed 2019-11-20
10-Q 2019-06-30 Filed 2019-08-07
10-Q 2019-03-31 Filed 2019-05-08
10-Q 2018-12-31 Filed 2019-02-07
10-K 2018-09-30 Filed 2018-11-29
10-Q 2018-06-30 Filed 2018-08-08
10-Q 2018-03-31 Filed 2018-05-08
10-Q 2017-12-31 Filed 2018-02-09
10-K 2017-09-30 Filed 2017-12-11
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-10
10-Q 2016-12-31 Filed 2017-02-09
10-K 2016-09-30 Filed 2016-12-14
10-Q 2016-06-30 Filed 2016-08-09
10-Q 2016-03-31 Filed 2016-05-10
10-Q 2015-12-31 Filed 2016-02-09
10-K 2015-09-30 Filed 2015-12-14
10-Q 2015-06-30 Filed 2015-08-10
10-Q 2015-03-31 Filed 2015-05-11
10-Q 2014-12-31 Filed 2015-02-09
10-K 2014-09-30 Filed 2014-12-10
10-Q 2014-06-30 Filed 2014-08-13
10-Q 2014-03-31 Filed 2014-05-15
10-Q 2013-12-31 Filed 2014-02-13
10-K 2013-09-30 Filed 2013-11-25
8-K 2020-08-10 Earnings, Exhibits
8-K 2020-07-08 Enter Agreement
8-K 2020-05-07
8-K 2020-03-27
8-K 2020-03-22
8-K 2020-03-09
8-K 2020-02-06
8-K 2019-11-20
8-K 2019-09-30
8-K 2019-09-20
8-K 2019-08-20
8-K 2019-08-07
8-K 2019-06-28
8-K 2019-06-27
8-K 2019-05-08
8-K 2019-03-07
8-K 2019-02-27
8-K 2019-02-07
8-K 2018-11-29
8-K 2018-09-24
8-K 2018-08-24
8-K 2018-08-08
8-K 2018-07-18
8-K 2018-07-10
8-K 2018-05-21
8-K 2018-05-14
8-K 2018-05-08
8-K 2018-05-03
8-K 2018-04-06
8-K 2018-02-09
8-K 2018-01-31
8-K 2018-01-29
8-K 2018-01-04

OCSI 10Q Quarterly Report

Part I - Financial Information
Item 1.Consolidated Financial Statements.
Note 1. Organization
Note 2. Significant Accounting Policies
Note 3. Portfolio Investments
Note 4. Fee Income
Note 5. Share Data and Net Assets
Note 6. Borrowings
Note 7. Interest and Dividend Income
Note 8. Taxable/Distributable Income and Dividend Distributions
Note 9. Realized Gains or Losses and Net Unrealized Appreciation or Depreciation
Note 10. Concentration of Credit Risks
Note 11. Related Party Transactions
Note 12. Financial Highlights
Note 13. Derivative Instruments
Note 14. Commitments and Contingencies
Note 15. Subsequent Events
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 ocsi-ex3112020063010xq.htm
EX-31.2 ocsi-ex3122020063010xq.htm
EX-32.1 ocsi-ex3212020063010xq.htm
EX-32.2 ocsi-ex3222020063010xq.htm

Oaktree Strategic Income Earnings 2020-06-30

Balance SheetIncome StatementCash Flow

10-Q 1 ocsi-06302020x10xq.htm 10-Q Document

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 10-Q
(Mark One)
 
þQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
OR
 
o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
COMMISSION FILE NUMBER: 1-35999
Oaktree Strategic Income Corporation
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
 
DELAWARE
(State or jurisdiction of
incorporation or organization)
 
61-1713295
(I.R.S. Employer
Identification No.)
333 South Grand Avenue, 28th Floor
Los Angeles, CA
(Address of principal executive office)
 
90071
(Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
(213) 830-6300

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of Each ClassTrading Symbol(s)Name of Each Exchange
on Which Registered
Common Stock, par value $0.01 per shareOCSI The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    YES   þ     NO   ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    YES   ¨   NO   ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer  o
 
Accelerated filer  þ
Non-accelerated filer  o
Smaller reporting company  o
Emerging growth company  o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)    YES  ¨     NO  þ
The registrant had 29,466,768 shares of common stock outstanding as of August 6, 2020.







OAKTREE STRATEGIC INCOME CORPORATION
FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2020


TABLE OF CONTENTS
 
Item 1.
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.






 



PART I — FINANCIAL INFORMATION

Item 1.Consolidated Financial Statements.

Oaktree Strategic Income Corporation
Consolidated Statements of Assets and Liabilities
June 30, 2020 (unaudited)September 30, 2019
ASSETS
Investments at fair value:
Control investments (cost June 30, 2020: $73,157,302; cost September 30, 2019: $73,189,664)$45,959,183  $54,326,418  
Non-control/Non-affiliate investments (cost June 30, 2020: $486,882,953; cost September 30, 2019: $553,679,070)460,493,061  542,778,029  
Total investments at fair value (cost June 30, 2020: $560,040,255; cost September 30, 2019: $626,868,734)506,452,244  597,104,447  
Cash and cash equivalents30,102,649  5,646,899  
Restricted cash7,792,996  8,404,733  
Interest, dividends and fees receivable1,940,633  3,813,730  
Due from portfolio companies556,404  350,597  
Receivables from unsettled transactions29,207,404  5,091,671  
Deferred financing costs2,010,442  2,139,299  
Deferred offering costs101,846  —  
Derivative asset at fair value281,117  20,876  
Other assets879,067  761,462  
Total assets$579,324,802  $623,333,714  
LIABILITIES AND NET ASSETS
Liabilities:
Accounts payable, accrued expenses and other liabilities$1,312,049  $901,410  
Base management fee and incentive fee payable1,641,920  1,368,431  
Due to affiliate1,136,158  1,457,007  
Interest payable1,983,791  2,750,587  
Payables from unsettled transactions11,385,018  37,724,473  
Director fees payable —  25,000  
Credit facilities payable312,156,800  294,656,800  
Total liabilities329,615,736  338,883,708  
Commitments and contingencies (Note 14)
Net assets:
Common stock, $0.01 par value per share, 150,000,000 shares authorized; 29,466,768 shares issued and outstanding as of June 30, 2020 and September 30, 2019294,668  294,668  
Additional paid-in-capital369,199,332  369,199,332  
Accumulated overdistributed earnings(119,784,934) (85,043,994) 
Total net assets (equivalent to $8.47 and $9.65 per common share as of June 30, 2020 and September 30, 2019, respectively) (Note 12)249,709,066  284,450,006  
Total liabilities and net assets$579,324,802  $623,333,714  
See notes to Consolidated Financial Statements.
1


Oaktree Strategic Income Corporation
Consolidated Statements of Operations
(unaudited)
Three months ended
June 30, 2020
Three months ended
June 30, 2019
Nine months ended
June 30, 2020
Nine months ended
June 30, 2019
Interest income:
Control investments $—  $1,486,149  $1,436,726  $4,444,357  
Non-control/Non-affiliate investments7,780,962  11,984,332  27,163,419  32,404,578  
Interest on cash and cash equivalents2,497  51,123  60,804  170,250  
Total interest income7,783,459  13,521,604  28,660,949  37,019,185  
PIK interest income:
Non-control/Non-affiliate investments744,122  2,838  1,044,579  16,587  
Total PIK interest income744,122  2,838  1,044,579  16,587  
Fee income:
Non-control/Non-affiliate investments108,580  284,081  876,359  513,522  
Total fee income108,580  284,081  876,359  513,522  
Total investment income8,636,161  13,808,523  30,581,887  37,549,294  
Expenses:
Base management fee1,374,962  1,497,711  4,322,609  4,363,871  
Part I incentive fee266,935  1,294,691  1,530,593  3,245,213  
Professional fees243,949  397,365  880,323  1,231,578  
Directors fees105,000  105,000  315,000  315,278  
Interest expense2,995,323  3,860,478  9,899,313  10,854,962  
Administrator expense217,964  224,328  696,917  890,228  
General and administrative expenses263,519  325,656  801,389  941,220  
Total expenses5,467,652  7,705,229  18,446,144  21,842,350  
Reversal of fees waived / (fees waived)—  184,907  (322,121) (291,740) 
Net expenses5,467,652  7,890,136  18,124,023  21,550,610  
Net investment income3,168,509  5,918,387  12,457,864  15,998,684  
Unrealized appreciation (depreciation):
Control investments8,125,254  (355,315) (8,334,873) (2,585,573) 
Non-control/Non-affiliate investments33,839,061  (2,132,068) (15,488,851) (10,912,918) 
Foreign currency forward contract(35,850) (106,334) 260,241  (58,439) 
Net unrealized appreciation (depreciation)41,928,465  (2,593,717) (23,563,483) (13,556,930) 
Realized gains (losses):
Non-control/Non-affiliate investments(2,938,459) (125,517) (10,549,832) 1,244,015  
Foreign currency forward contract—  283,747  (267,444) 291,867  
Net realized gains (losses)(2,938,459) 158,230  (10,817,276) 1,535,882  
Net realized and unrealized gains (losses)38,990,006  (2,435,487) (34,380,759) (12,021,048) 
Net increase (decrease) in net assets resulting from operations$42,158,515  $3,482,900  $(21,922,895) $3,977,636  
Net investment income per common share — basic and diluted$0.11  $0.20  $0.42  $0.54  
Earnings (loss) per common share — basic and diluted (Note 5)$1.43  $0.12  $(0.74) $0.13  
Weighted average common shares outstanding — basic and diluted29,466,768  29,466,768  29,466,768  29,466,768  
See notes to Consolidated Financial Statements.
2


Oaktree Strategic Income Corporation
Consolidated Statements of Changes in Net Assets
(unaudited)
Three months ended
June 30, 2020
Three months ended
June 30, 2019
Nine months ended
June 30, 2020
Nine months ended
June 30, 2019
Operations:
Net investment income$3,168,509  $5,918,387  $12,457,864  $15,998,684  
Net unrealized appreciation (depreciation)41,928,465  (2,593,717) (23,563,483) (13,556,930) 
Net realized gains (losses) (2,938,459) 158,230  (10,817,276) 1,535,882  
Net increase (decrease) in net assets resulting from operations42,158,515  3,482,900  (21,922,895) 3,977,636  
Stockholder transactions:
Distributions to stockholders(3,683,347) (4,567,350) (12,818,045) (13,702,048) 
Net increase (decrease) in net assets from stockholder transactions(3,683,347) (4,567,350) (12,818,045) (13,702,048) 
Capital share transactions:
Issuance of common stock under dividend reinvestment plan93,725  53,088  235,706  157,742  
Repurchases of common stock under dividend reinvestment plan(93,725) (53,088) (235,706) (157,742) 
Net change in net assets from capital share transactions—  —  —  —  
Total increase (decrease) in net assets38,475,168  (1,084,450) (34,740,940) (9,724,412) 
Net assets at beginning of period211,233,898  287,105,458  284,450,006  295,745,420  
Net assets at end of period$249,709,066  $286,021,008  $249,709,066  $286,021,008  
Net asset value per common share$8.47  $9.71  $8.47  $9.71  
Common shares outstanding at end of period29,466,768  29,466,768  29,466,768  29,466,768  

See notes to Consolidated Financial Statements.
3

Oaktree Strategic Income Corporation
Consolidated Statements of Cash Flows
(unaudited)
Nine months ended
June 30, 2020
Nine months ended
June 30, 2019
Operating activities:
Net increase (decrease) in net assets resulting from operations$(21,922,895) $3,977,636  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Net unrealized (appreciation) depreciation23,563,483  13,556,930  
Net realized (gains) losses10,817,276  (1,535,882) 
PIK interest income(1,044,579) (16,587) 
Accretion of original issue discount on investments(1,136,714) (1,933,124) 
Amortization of deferred financing costs790,336  422,614  
Purchases of investments(173,463,199) (198,538,828) 
Proceeds from the sales and repayments of investments231,031,575  156,786,130  
Changes in operating assets and liabilities:
(Increase) decrease in interest, dividends and fees receivable2,325,006  153,465  
(Increase) decrease in due from portfolio companies(205,807) 122,619  
(Increase) decrease in receivables from unsettled transactions(24,115,733) (36,588) 
(Increase) decrease in other assets (117,605) 47,782  
Increase (decrease) in accounts payable, accrued expenses and other liabilities(293,047) 450,973  
Increase (decrease) in base management fee and incentive fee payable273,489  (117,465) 
Increase (decrease) in due to affiliate(320,849) (108,827) 
Increase (decrease) in interest payable(766,796) 1,848,050  
Increase (decrease) in payables from unsettled transactions(26,339,455) 3,002,450  
Increase (decrease) in director fees payable (25,000) —  
Net cash provided by (used in) operating activities19,049,486  (21,918,652) 
Financing activities:
Distributions paid in cash(12,582,339) (13,544,306) 
Borrowings under credit facilities79,500,000  107,600,000  
Repayments of borrowings under credit facilities(62,000,000) (74,400,000) 
Repurchases of common stock under dividend reinvestment plan(235,706) (157,742) 
Deferred financing costs paid(33,679) (10,000) 
Offering costs paid(25,960) —  
Net cash provided by (used in) financing activities4,622,316  19,487,952  
Effect of exchange rate changes on foreign currency172,211  (461) 
Net increase (decrease) in cash and cash equivalents and restricted cash23,844,013  (2,431,161) 
Cash and cash equivalents and restricted cash, beginning of period14,051,632  16,431,787  
Cash and cash equivalents and restricted cash, end of period$37,895,645  $14,000,626  
Supplemental information:
Cash paid for interest$9,875,773  $8,584,298  
Non-cash financing activities:
Issuance of shares of common stock under dividend reinvestment plan$235,706  $157,742  
Deferred financing costs incurred(627,800) (115,086) 
Deferred offering costs incurred(75,886) —  
Reconciliation to the Consolidated Statements of Assets and Liabilities June 30, 2020September 30, 2019
Cash and cash equivalents $30,102,649  $5,646,899  
Restricted cash 7,792,996  8,404,733  
Total cash and cash equivalents and restricted cash $37,895,645  $14,051,632  
See notes to Consolidated Financial Statements.
4

Oaktree Strategic Income Corporation
Consolidated Schedule of Investments
June 30, 2020
(unaudited)


Portfolio Company/Type of Investment (1)(2)(3)(4)(5) Cash Interest Rate (6)Industry Principal (7)CostFair ValueNotes
Control Investments(8)
OCSI Glick JV LLCMulti-Sector Holdings(10)(11)
Subordinated Note, LIBOR+4.50% cash due 10/20/2028$66,045,551  $66,045,551  $45,959,183  (6)(9)(14)(15) (16)
87.5% equity interest7,111,751  —  (9)(12)(14)
73,157,302  45,959,183  
 Total Control Investments (18.4% of net assets)
$73,157,302  $45,959,183  
Non-Control/Non-Affiliate Investments(13)
4 Over International, LLCCommercial Printing
First Lien Term Loan, LIBOR+6.00% cash due 6/7/20227.00%$5,522,679  $5,461,044  $5,213,410  (6)(15)
First Lien Revolver, LIBOR+6.00% cash due 6/7/20217.00%68,452  67,949  64,620  (6)(15)
5,528,993  5,278,030  
99 Cents Only Stores LLCGeneral Merchandise Stores
First Lien Term Loan, LIBOR+5.00% cash 1.50% PIK due 1/13/20225.30%1,627,449  1,576,363  1,381,298  (6)
1,576,363  1,381,298  
Access CIG, LLCDiversified Support Services
First Lien Term Loan, LIBOR+3.75% cash due 2/27/20253.92%5,420,800  5,382,095  5,178,002  (6)
5,382,095  5,178,002  
Accupac, Inc.Personal Products
First Lien Term Loan, LIBOR+6.00% cash due 1/17/20267.00%3,826,275  3,764,386  3,763,141  (6)(15)
First Lien Delayed Draw Term Loan, LIBOR+6.00% cash due 1/17/2026—  (11,597) (11,830) (6)(14)(15)
First Lien Revolver, LIBOR+6.00% cash due 1/17/20267.00%477,989  470,258  470,103  (6)(15)
4,223,047  4,221,414  
AI Ladder (Luxembourg) Subco S.a.r.l.Electrical Components & Equipment
First Lien Term Loan, LIBOR+4.50% cash due 7/9/20254.68%6,440,485  6,300,920  5,876,943  (6)(9)
6,300,920  5,876,943  
Airbnb, Inc.Hotels, Resorts & Cruise Lines
First Lien Term Loan, LIBOR+7.50% cash due 4/17/20258.50%4,767,000  4,650,552  4,981,515  (6)
4,650,552  4,981,515  
Aldevron, L.L.C.Biotechnology
First Lien Term Loan, LIBOR+4.25% cash due 10/12/20265.25%3,990,000  3,950,100  3,945,113  (6)
3,950,100  3,945,113  
All Web Leads, Inc.Advertising
First Lien Term Loan, LIBOR+5.50% cash 2% PIK due 12/29/20206.50%24,049,298  24,049,272  22,067,443  (6)(15)
24,049,272  22,067,443  
Amplify Finco Pty Ltd.Movies & Entertainment
First Lien Term Loan, LIBOR+4.00% cash due 11/26/20264.75%5,985,000  5,925,150  5,236,875  (6)(9)(15)
5,925,150  5,236,875  
Ancile Solutions, Inc.Application Software
First Lien Term Loan, LIBOR+7.00% cash due 6/30/20218.00%7,944,097  7,857,052  7,840,824  (6)(15)
7,857,052  7,840,824  
Apptio, Inc.Application Software
First Lien Term Loan, LIBOR+7.25% cash due 1/10/20258.25%10,693,944  10,530,085  10,453,170  (6)(15)
First Lien Revolver, LIBOR+7.25% cash due 1/10/2025—  (10,448) (15,587) (6)(14)(15)
10,519,637  10,437,583  
Athenex, Inc.Pharmaceuticals
First Lien Term Loan, 11.00% cash due 6/19/20266,835,903  6,537,010  6,535,887  (9)(15)
First Lien Delayed Draw Term Loan, 11.00% cash due 6/19/2026—  (118,675) (118,675) (9)(14)(15)
62,097 Common Stock Warrants (exercise price $12.63) expiration date 6/19/2027213,614  213,614  (9)(15)
6,631,949  6,630,826  
5

Oaktree Strategic Income Corporation
Consolidated Schedule of Investments
June 30, 2020
(unaudited)


Portfolio Company/Type of Investment (1)(2)(3)(4)(5) Cash Interest Rate (6)Industry Principal (7)CostFair ValueNotes
Avaya, Inc.Communications Equipment
First Lien Term Loan, LIBOR+4.25% cash due 12/15/20244.43%$8,970,299  $8,904,306  $8,310,982  (6)
8,904,306  8,310,982  
Ball Metalpack Finco, LLCMetal & Glass Containers
First Lien Term Loan, LIBOR+4.50% cash due 7/31/20254.86%3,433,740  3,421,165  3,186,940  (6)(15)
3,421,165  3,186,940  
Blackhawk Network Holdings, Inc.Data Processing & Outsourced Services
Second Lien Term Loan, LIBOR+7.00% cash due 6/15/20267.25%4,375,000  4,339,989  4,019,531  (6)
4,339,989  4,019,531  
Boxer Parent Company Inc.Systems Software
First Lien Term Loan, LIBOR+4.25% cash due 10/2/20254.43%6,072,525  6,007,391  5,768,565  (6)
6,007,391  5,768,565  
Cadence Aerospace, LLCAerospace & Defense
First Lien Term Loan, LIBOR+3.25% cash 5.25% PIK due 11/14/20234.25%13,411,029  13,315,699  12,316,689  (6)(15)
13,315,699  12,316,689  
Canyon Buyer, Inc.Application Software
First Lien Term Loan, LIBOR+4.25% cash due 2/15/20254.56%5,886,822  5,831,475  5,769,086  (6)
5,831,475  5,769,086  
Carrols Restaurant Group, Inc.Restaurants
First Lien Term Loan, LIBOR+6.25% cash due 4/30/20267.25%3,586,000  3,406,700  3,442,560  (6)
3,406,700  3,442,560  
Chief Power Finance II, LLCIndependent Power Producers & Energy Traders
First Lien Term Loan, LIBOR+6.50% cash due 12/31/20227.50%3,368,750  3,302,235  3,177,405  (6)(15)
3,302,235  3,177,405  
CircusTrix Holdings LLCLeisure Facilities
First Lien Term Loan, LIBOR+5.50% PIK due 12/16/20218,245,864  8,215,255  6,450,740  (6)(15)
First Lien Delayed Draw Term Loan, LIBOR+5.50% PIK due 12/16/2021992,905  985,688  776,750  (6)(15)
9,200,943  7,227,490  
CITGO Petroleum Corp.Oil & Gas Refining & Marketing
First Lien Term Loan, LIBOR+5.00% cash due 3/28/20246.00%5,401,326  5,347,313  5,198,776  (6)
5,347,313  5,198,776  
Connect U.S. Finco LLCAlternative Carriers
First Lien Term Loan, LIBOR+4.50% cash due 12/11/20265.50%9,420,708  9,177,268  8,896,728  (6)(9)
9,177,268  8,896,728  
Continental Intermodal Group LPOil & Gas Storage & Transportation
First Lien Term Loan, LIBOR+8.50% PIK due 1/28/202513,059,121  13,059,121  11,442,402  (6)(15)
13,059,121  11,442,402  
Coyote Buyer, LLCSpecialty Chemicals
First Lien Term Loan, LIBOR+6.00% cash due 2/6/20267.00%5,464,039  5,409,398  5,409,398  (6)(15)
First Lien Revolver, LIBOR+6.00% cash due 2/6/20257.35%234,760  230,847  230,847  (6)(14)(15)
5,640,245  5,640,245  
CPI Holdco, LLCHealth Care Supplies
First Lien Term Loan, LIBOR+4.25% cash due 11/4/20264.43%5,909,190  5,884,253  5,717,141  (6)
5,884,253  5,717,141  
CTOS, LLCTrading Companies & Distributors
First Lien Term Loan, LIBOR+4.25% cash due 4/18/20254.44%8,753,131  8,855,394  8,621,834  (6)
8,855,394  8,621,834  
6

Oaktree Strategic Income Corporation
Consolidated Schedule of Investments
June 30, 2020
(unaudited)


Portfolio Company/Type of Investment (1)(2)(3)(4)(5) Cash Interest Rate (6)Industry Principal (7)CostFair ValueNotes
Curium Bidco S.à.r.l.Biotechnology
First Lien Term Loan, LIBOR+4.00% cash due 7/9/20265.07%$3,970,000  $3,940,225  $3,900,525  (6)(9)
3,940,225  3,900,525  
Dealer Tire, LLCDistributors
First Lien Term Loan, LIBOR+4.25% cash due 12/12/20254.43%8,873,699  8,778,259  8,503,932  (6)
8,778,259  8,503,932  
Ellie Mae, Inc.Application Software
First Lien Term Loan, LIBOR+3.75% cash due 4/17/20264.06%7,443,750  7,404,050  7,244,630  (6)
7,404,050  7,244,630  
EnergySolutions LLCEnvironmental & Facilities Services
First Lien Term Loan, LIBOR+3.75% cash due 5/9/20254.75%3,920,000  3,906,297  3,639,054  (6)
3,906,297  3,639,054  
eResearch Technology, Inc.Application Software
First Lien Term Loan, LIBOR+4.50% cash due 2/4/20275.50%4,000,000  3,960,000  3,931,000  (6)
3,960,000  3,931,000  
Firstlight Holdco, Inc.Alternative Carriers
First Lien Term Loan, LIBOR+3.50% cash due 7/23/20253.68%7,102,410  7,076,357  6,787,240  (6)
7,076,357  6,787,240  
GI Chill Acquisition LLCManaged Health Care
First Lien Term Loan, LIBOR+4.00% cash due 8/6/20254.31%2,977,273  2,954,943  2,783,750  (6)(15)
2,954,943  2,783,750  
GKD Index Partners, LLCSpecialized Finance
First Lien Term Loan, LIBOR+7.00% cash due 6/29/20238.00%8,164,382  8,115,512  7,960,272  (6)(15)
First Lien Revolver, LIBOR+7.00% cash due 6/29/20238.00%355,556  351,749  343,556  (6)(14)(15)
8,467,261  8,303,828  
Global Medical ResponseHealth Care Services
First Lien Term Loan, LIBOR+4.25% cash due 3/14/20255.25%2,469,673  2,426,164  2,369,342  (6)
2,426,164  2,369,342  
Guidehouse LLPResearch & Consulting Services
First Lien Term Loan, LIBOR+4.50% cash due 5/1/20254.68%2,481,012  2,458,464  2,412,785  (6)
Second Lien Term Loan, LIBOR+8.00% cash due 5/1/20268.18%5,000,000  4,981,651  4,575,000  (6)(15)
7,440,115  6,987,785  
Gulf Operating, LLCOil & Gas Storage & Transportation
First Lien Term Loan, LIBOR+5.25% cash due 8/25/20236.25%1,931,212  1,031,990  1,263,331  (6)
1,031,990  1,263,331  
Helios Software Holdings, Inc.Systems Software
First Lien Term Loan, LIBOR+4.25% cash due 10/24/20255.32%3,979,845  3,940,046  3,852,490  (6)
3,940,046  3,852,490  
iCIMs, Inc.Application Software
First Lien Term Loan, LIBOR+6.50% cash due 9/12/20247.50%5,572,549  5,492,792  5,521,281  (6)(15)
First Lien Revolver, LIBOR+6.50% cash due 9/12/2024—  (5,255) (2,706) (6)(14)(15)
5,487,537  5,518,575  
KIK Custom Products Inc.Household Products
First Lien Term Loan, LIBOR+4.00% cash due 5/15/20235.00%5,000,000  5,020,416  4,777,825  (6)(9)
5,020,416  4,777,825  
Lannett Company, Inc.Pharmaceuticals
First Lien Term Loan, LIBOR+5.38% cash due 11/25/20226.38%6,913,194  6,922,358  6,815,994  (6)(9)
6,922,358  6,815,994  
Lightbox Intermediate, L.P.Real Estate Services
First Lien Term Loan, LIBOR+5.00% cash due 5/9/20265.18%9,900,000  9,775,065  9,157,500  (6)(15)
9,775,065  9,157,500  
7

Oaktree Strategic Income Corporation
Consolidated Schedule of Investments
June 30, 2020
(unaudited)