FSSL - FS Specialty Lending Fund
A closed-end fund run by FS Investments. Invests in bank loans. Listed on the New York Stock Exchange.
Is anyone targeting this fund?
No - nobody has reported owning 5% or more of this fund.
Is the fund doing anything you need to act on?
Nothing right now.
What this means for you
No investor has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.
Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.
What happened, and when
-
Nov 21, 2025
The fund sent holders a document about a possible reorganization; we could not read the details automatically.
Original document → -
Sept 26, 2025
The fund sent holders a document about a possible reorganization; we could not read the details automatically.
Original document → -
July 25, 2025
The fund said it may sell new shares.
Original document → -
July 2, 2025
The fund said it may sell new shares.
Original document → -
June 13, 2025
The fund proposed changing its legal form; it would stay a fund. Holders will vote.
Original document →
Show all 6 events
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April 30, 2025
The fund proposed changing its legal form; it would stay a fund. Holders will vote.
Original document →
About this fund
- Run by FS Specialty Lending Advisor, LLC. Part of the Future Standard fund family. As of Dec 31, 2025, from the fund's yearly report. Original document →
- Size: about $1.36 billion of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
- Borrowing: the fund borrows about 29% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
- Costs: 2.3% a year in management fees; 6.1% a year in total, including interest on borrowed money. Fiscal year ended Dec 31, 2025. As of Dec 31, 2025, from the fund's yearly report. Original document →
- Payouts: last fiscal year the fund told the regulator that part of what it paid out was not income (it came from gains or from your own money back). As of Dec 31, 2025, from the fund's yearly report. Original document →
- Value of holdings per share at the last fiscal year end (Dec 31, 2025): $18.22. The shares traded at $14.14, about 22.4% below that. As of Dec 31, 2025, from the fund's yearly report. Original document →
- How the holdings did: up 2.1% over the last three months we have (April-June 2026), before the share price is taken into account. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
- First reported to the regulator in 2025.
What the fund holds
Mostly loans (94%), the rest asset-backed bonds, bonds and shares. About 94% issued in the U.S.
- Massiv Brands LLC Fixed PIK Term Loan - 3%
- Mannington Mills Inc 2025 Term Loan B - 2.9%
- Olibre Borrower LLC Term Loan - 2.8%
- Onbe Inc Term Loan - 2.7%
- IXS Holdings Inc 2025 Repriced Term Loan B - 2.5%
- LHS Borrower LLC 2025 Term Loan - 2.4%
- Accupac LLC 2024 Term Loan - 2.4%
- CCS Acquisition Inc Term Loan - 2.3%
- ADAN-B LLC 2025 1st Amendment Term Loan - 2.2%
- Future Pak LLC 2025 Term Loan - 2.1%
Show all 25
- Alegeus Technologies Holdings Corporation 2024 Term Loan B - 2.1%
- Aptim Crop Term Loan - 2%
- Harrel-Fish LLC Term Loan - 2%
- M2S Group Holdings Inc Term Loan B - 2%
- Stryten Energy Resources LLC Term Loan - 2%
- Spinrite Inc Term Loan - 1.9%
- Pretium PKG Holdings Inc 2026 1st Out Exit Term Loan - 1.9%
- WMK LLC Term Loan - 1.9%
- Lawn & Garden LLC Term Loan - 1.9%
- Client Telephone Solutions LLC Term Loan - 1.8%
- EyeCare Partners LLC 2024 Superpriority New Money 1st Out Term Loan A - 1.8%
- MedPro Term Loan - 1.8%
- Loungers GBP Term Loan B - 1.8%
- Delivery Hero SE 2024 USD Term Loan B - 1.8%
- Trimlight Inc Term Loan - 1.8%
As of June 30, 2026, from the fund's quarterly holdings report. Original document →
Details: all notices, events and fund facts
No notices from large investors on file.
| Date | What | Deadline | Document |
|---|---|---|---|
| Nov 21, 2025 | Plan to take in another fund | none | Original document → |
| Sept 26, 2025 | Plan to take in SSC | none | Original document → |
| July 25, 2025 | May sell new shares | none | Original document → |
| July 2, 2025 | May sell new shares | none | Original document → |
| June 13, 2025 | Plan to change what the fund is | none | Original document → |
| April 30, 2025 | Plan to change what the fund is | none | Original document → |
- Run by
- FS Specialty Lending Advisor, LLC
- Fund family
- Future Standard
- Exchange
- New York Stock Exchange
- Regulator's file number
- 811-24080
- Auditor
- Ernst & Young LLP
- Fiscal year end
- Dec 31, 2025
- Number of holdings
- 164
- Preferred share classes
- none
Email me when something new is filed for FSSL
Free. One email per notice or announcement, usually within a day. No password.