{"url_path":"/sec/cik-0001905824/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1905824/0001193125-26-224212-index.html","accession_number":"0001193125-26-224212","cik":"0001905824","ticker":null,"issuer_name":"PIMCO Capital Solutions BDC Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1905824/0001193125-26-224212-index.html","primary_entity_key":"0001905824","primary_entity_name":"PIMCO Capital Solutions BDC Corp."},"word_count":7276,"has_tables":true,"body_markdown":"10-Q\n\n##### Table of Contents\n\nfalse--12-310001905824Q1CAPer share amounts are calculated based on the weighted average shares outstanding during the period.Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value (“NAV”) per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to share transactions during the period.Total return is calculated as the change in NAV per share during the period, plus distributions per share, if any, divided by the NAV per share at the beginning of the period. Total return is for the period indicated and has not been annualized.Average net assets are computed using the average balance of net assets at the end of each quarter of the reporting period.Ratio of total expenses to average net assets is calculated using total operating expenses, excluding income tax expense.Not annualized.Purchases and Drawdowns may include securities received in corporate actions and restructurings.Sales and Paydowns may include securities delivered in corporate actions and restructuring of investments.Pledged as collateral against the credit facility. See Note 4. Borrowings in the Notes to Consolidated Financial Statements for additional information.Interest rates on short-term investments are annualized.All investments are U.S. domiciled, unless otherwise indicated.The fair value of the investment was valued using significant unobservable inputs. See Note 6. Fair Value Measurements in the Notes to Consolidated Financial Statements.The investment is treated as a non-qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act’’). Under the 1940 Act, the Company cannot acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets. As of March 31, 2026, total non-qualifying assets at fair value represented 3.1% of the Company’s total net assets calculated in accordance with the 1940 Act.Investment is Germany domiciled.Investment is Spain domiciled.Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. Please refer to Note 8. Commitments & Contingencies for additional details.Unless otherwise indicated, the interest rate on the principal balance outstanding for all floating rate loans is indexed to the Term Secured Overnight Financing Rate (“SOFR”) or Euro Interbank Offered Rate (“EURIBOR”), which typically resets semiannually, quarterly, or monthly at the borrower’s option. The applicable base rate may be subject to a floor. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, we have provided the applicable margin over the reference rate based on each respective credit agreement. As of March 31, 2026, the reference rates for the floating rate loans were the 1 Month SOFR of 3.65%, 3 Month SOFR of 3.68%, 6 Month SOFR of 3.86%, 1 Month EURIBOR of 1.89%, 3 Month EURIBOR of 2.08% and 6 Month EURIBOR of 2.48%.Weighted average is calculated by weighing the significant unobservable input by the relative fair value of each investment in the category.Amount excludes excess cash collateral paid, if any.Net amount represents the net amount due (to) from counterparty in the event of a default based on the contractual setoff rights under the agreement. Net amount excludes any over-collateralized amounts.Non-income producing security.Represents co-investments made with the Company’s affiliates in accordance with the terms of the exemptive relief received from the U.S. Securities and Exchange Commission. See Note 3. Related Party Transactions in the Notes to Consolidated Financial Statements.Investment is structured as a unitranche loan in which the Company has a portion of the “last-out” tranche of the loan, whereby the “first-out” tranche will have priority as to the “last-out” tranche with respect to payments of principal, interest and any other amounts due thereunder.The investment is treated as a non-qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act’’). Under the 1940 Act, the Company cannot acquire any non-qualifying asset unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets. As of December 31, 2025, total non-qualifying assets at fair value represented 3.2% of the Company’s total net assets calculated in accordance with the 1940 Act.Unless otherwise indicated, the interest rate on the principal balance outstanding for all floating rate loans is indexed to the Term Secured Overnight Financing Rate (“SOFR”) or Euro Interbank Offered Rate (“EURIBOR”), which typically resets semiannually, quarterly, or monthly at the borrower’s option. The applicable base rate may be subject to a floor. The borrower may also elect to have multiple interest reset periods for each loan. For each of these loans, we have provided the applicable margin over the reference rate based on each respective credit agreement. As of December 31, 2025, the reference rates for the floating rate loans were the 1 Month SOFR of 3.69%, 3 Month SOFR of 3.65%, 6 Month SOFR of 3.57%, 1 Month EURIBOR of 1.94%, 3 Month EURIBOR of 2.03% and 6 Month EURIBOR of 2.11%.The carrying value is presented gross of unamortized deferred financing costs of $0.7 million.On November 14, 2024, the Credit Facility was amended (the “Second Amendment”) so that the Minimum Usage Amount is (a) zero prior to June 19, 2024, (b) an amount equal to 70% of the Maximum Facility Amount (as such term is defined in the Credit Facility) any date on or after June 19, 2024 to November 14, 2024, (c) an amount equal to 50% of the Maximum Facility Amount (as such term is defined in the Credit Facility) any date on or after November 14, 2024 to May 14, 2025 and (d) an amount equal to 70% of the Maximum Facility Amount (as such term is defined in the Credit Facility) any date on or after May 15, 2025.The Subsidiary pays a Utilization Fee (as such term is defined in the Credit Facility) for the difference between (a) the amount of interest that would have accrued under this Credit Facility on the principal amount of the advances if the advances outstanding was equal to the Minimum Usage Amount and (b) the amount of interest that actually accrued under this Credit Facility on the principal amounts of the advances.Includes unused commitment fees of $8, amortization expense for deferred financing costs of $27 and debt administration fees of $4.Includes unused commitment fees of $50, amortization expense for deferred financing costs of $67 and debt administration fees of $8. 0001905824 2026-03-31 0001905824 2025-12-31 0001905824 2025-01-01 2025-03-31 0001905824 2026-01-01 2026-03-31 0001905824 2026-05-31 0001905824 2025-01-01 2025-12-31 0001905824 2025-03-31 0001905824 2023-06-19 2023-06-19 0001905824 2024-06-10 2024-06-10 0001905824 2026-05-14 0001905824 2025-09-12 2025-09-12 0001905824 2024-12-31 0001905824 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5.000% | 8.673% |10/24/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Second Amendment Term Loan | SOFR + 5.000% | 8.667% |10/24/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Guardian Capital Term Loan | SOFR + 5.500% | 9.121% | 08/30/2032 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Stepstone Group Midco 2 GmbH Term Loan | SOFR + 4.500% | 8.199% |12/19/2031 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Insurance Life | Integrity Marketing Acquisition, LLC Incremental Term Loan | SOFR + 5.000% | 8.673% | 08/25/2028 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Healthcare | U.S. Renal Care, Inc. Closing Date Term Loan | SOFR + 5.114% | 8.782% | 06/28/2028 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Healthcare | U.S. Renal Care, Inc. Delayed Draw Term Loan | SOFR + 6.000% | 9.673% | 09/25/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Healthcare | U.S. Renal Care, Inc. Term Loan | SOFR + 6.000% | 9.673% | 09/25/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Initial Delayed Term Loan | SOFR + 5.000% | 8.673% |10/24/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Delayed Term Loan | SOFR + 5.000% | 8.700% |10/24/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Second Amendment Delayed Term Loan | SOFR + 5.000% | 8.700% |10/24/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Minotaur Acquisition, Inc. Delayed Draw B Term Loan | SOFR + 5.000% | 8.668% | 06/03/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Minotaur Acquisition, Inc. Term BLoan | SOFR + 5.000% | 8.668% | 06/03/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Food and Beverage | Golden State Foods, LLC Term Loan | SOFR + 3.500% | 7.200% | 12/04/2031 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Gaming | Strategic Gaming Term Loan | SOFR + 7.000% | 10.673% | 10/15/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Healthcare | Acuity Eyecare Holdings, LLC Delayed Draw Term Loan | SOFR + 5.900% | 9.600% | 03/27/2027 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Healthcare | Paradigm Parent, LLC Initial Term Loan | SOFR + 4.500% | 8.200% | 04/16/2032 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Consumer Services | RKD Group Term Loan | SOFR + 5.500% | 9.152% | 05/19/2031 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Diversified Manufacturing | TK Elevator Midco GmbH Facility B Loan | SOFR + 2.750% | 6.377% | 04/30/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Entertainment | SubCalidora 2 S.a r.l. Term Loan | EURIBOR + 5.750% | 7.769% | 08/14/2029 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Asurion, LLC B-12 Term Loan | SOFR + 4.250% | 7.918% | 09/19/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Cerity Partners Equity Holding LLC Initial Revolving Loan | SOFR + 4.500% | 8.168% | 07/28/2031 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Minotaur Acquisition, Inc. Delayed Draw A Term Loan | SOFR + 5.000% | 8.668% | 06/03/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Chemicals | Puris LLC Term Loan | SOFR + 5.750% | 9.451% | 06/30/2031 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Consumer Products | DRS Holdings III, Inc. | SOFR + 5.250% | 8.918% | 11/01/2028 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Consumer Services | Argano, LLC Delayed Draw Term Loan | SOFR + 5.500% | 9.168% | 09/13/2029 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | IT Services | Alorica, Inc. 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Initial Tranche A Term Loan | SOFR + 3.600 % | 7.269 % | 04/30/2029 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Newfold Digital Holdings Group, Inc. New Money Tranche A Term Loan | SOFR + 5.750 % | 9.419 % | 04/30/2029 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Polaris Newco, LLC Dollar Term Loan | SOFR + 4.261 % | 7.928 % | 06/02/2028 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Renaissance Holding Corp. Initial Term Loan | SOFR + 4.000 % | 7.667 % | 04/05/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | DwyerOmega Revolving Delayed Draw Term Loan | SOFR + 4.750 % | 8.450 % | 07/20/2029 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | DwyerOmega Term Loan | SOFR + 4.750 % | 8.450 % | 07/20/2029 2026-03-31 0001905824 Debt Investments | First LieSenior Secured | Technology | MH Sub I, LLC Term Loan | SOFR + 4.250 % | 7.918 % | 05/03/2028 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | MH Sub I, LLC Term Loan | SOFR + 4.250 % | 7.918 % | 12/31/2031 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | MRI Software, LLC Revolving Credit Loan | SOFR + 4.750 % | 8.450 % | 02/10/2028 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | MRI Software, LLC Term Loan | SOFR + 4.750 % | 8.450 % | 02/10/2028 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | CoreWeave Compute Acquisition Co. IV, LLC Initial Term Loan | SOFR + 6.000%| 9.700 % | 05/16/2029 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Cotiviti, Inc. Initial Term Loan | SOFR + 2.750 % | 6.418 % | 05/01/2031 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Cotiviti, Inc. Initial Term Loan | SOFR + 2.750 % | 6.418 % | 03/26/2032 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | DataBricks, Inc. Term Loan | SOFR + 4.500 % | 8.171 % | 01/05/2032 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Denali Intermediate Holdings, Inc. Term Loan | SOFR + 5.500%| 9.176 % | 08/26/2032 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | DwyerOmega Revolving Credit Loan | SOFR + 4.750 % | 8.450 % | 07/20/2029 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Packaging | Clydesdale Acquisition Holdings, Inc. Seven Year Term Loan | SOFR + 3.175% | 6.843% | 04/13/2029 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Pharmaceuticals | Gainwell Acquisition Corp. Term B Loan | SOFR + 4.100% | 7.800 % | 10/01/2027 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Retailers | LBM Acquisition, LLC Incremental Term Loan | SOFR + 3.850% | 7.525 % | 06/06/2031 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Arctic Wolf Networks, Inc. Term Loan | SOFR + 5.750%| 9.417 % | 02/04/2030 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Arrow Borrower 2025, Inc. Term Loan | SOFR + 4.250 % | 7.950 % | 10/15/2032 2026-03-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Caldera Medical Term Loan | SOFR + 7.000%| 10.639 % | 01/30/2030 2026-03-31 0001905824 Debt Investments | Second Lien Senior Secured | Technology | Newfold Digital Holdings Group, Inc. Initial Tranche B Term Loan | SOFR + 3.600 % | 7.269 % | 04/30/2029 2026-03-31 0001905824 Debt Investments | Second Lien Senior Secured | Chemicals | K2 Pure Solutions Nocal Holding 2L Term Loan | N/A | 17.000% (7.000% PIK) | 01/30/2029 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.562 % | 06/23/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.572 % | 06/25/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.585 % | 06/30/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.610 % | 07/21/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.600 % | 07/23/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.604 % | 07/30/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.559 % | 05/07/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.552 % | 05/12/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.573 % | 05/19/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.568 % | 05/21/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.585 % | 05/26/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.572 % | 06/18/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.369 % | 04/14/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.460 % | 04/21/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.479 % | 04/23/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.495 % | 04/28/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.512 % | 04/30/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.637 % | 08/21/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 1.796 % | 04/02/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.092 % | 04/07/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.616 % | 05/15/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.621 % | 05/27/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.619 % | 06/05/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.625 % | 06/22/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.626 % | 06/24/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.633 % | 07/29/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.580 % | 04/01/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.583 % | 04/08/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.586 % | 04/017/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.588 % | 04/022/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.611 % | 05/01/2026 2026-03-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.614 % | 05/08/2026 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New Money Tranche A Term Loan| SOFR + 5.750%| 9.534%| 04/30/2029 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Polaris Newco, LLC Dollar Term Loan| SOFR + 4.261%| 7.852%| 06/02/2028 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Renaissance Holding Corp. Initial Term Loan| SOFR + 4.000%| 7.716%| 04/05/2030 2025-12-31 0001905824 Debt Investments | Second Lien Senior Secured | Technology | Newfold Digital Holdings Group, Inc. Initial Tranche B Term Loan | SOFR + 3.600% | 0.07384 | 04/30/2029 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | DwyerOmega Revolving Credit Loan| SOFR + 4.750%| 8.439%| 07/20/2029 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | DwyerOmega Revolving Delayed Draw Term Loan| SOFR + 4.750%| 8.527%| 08/28/2029 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | DwyerOmega Term Loan| SOFR + 4.750%| 8.752%| 08/28/2029 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | MH Sub I, LLC Term Loan| SOFR + 4.250%| 7.966%| 05/03/2028 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | MH Sub I, LLC Term Loan| SOFR + 4.250%| 7.966%| 12/31/2031 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | MRI Software, LLC Revolving Credit Loan| SOFR + 4.750%| 8.436%| 02/10/2028 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Caldera Medical Term Loan| SOFR + 7.000%| 10.927%| 01/30/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | CoreWeave Compute Acquisition Co. IV, LLC Initial Term Loan | SOFR + 6.000%| 10.002%| 05/16/2029 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Cotiviti, Inc. Initial Term Loan| SOFR + 2.750%| 6.623%| 05/01/2031 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Cotiviti, Inc. Initial Term Loan| SOFR + 2.750%| 6.623%| 03/26/2032 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | DataBricks, Inc. Term Loan| SOFR + 4.500%| 8.272%| 01/03/2031 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Technology | Denali Intermediate Holdings, Inc. Term Loan| SOFR + 5.500%| 9.227%| 08/26/2032 2025-12-31 0001905824 Debt Investments | Second Lien Senior Secured | Chemicals | K2 Pure Solutions Nocal Holding 2L Term Loan | N/A | 17.000% (7.000% PIK) | 01/30/2029 2025-12-31 0001905824 Debt Investments | Second Lien Senior Secured | Technology | Mavenir Systems, Inc. 2L Term Loan | N/A | 12.000% PIK | 07/26/2030 2025-12-31 0001905824 Debt Investments | Senior Unsecured | Technology | GCOM | N/A | 17.000% PIK | 02/16/2029 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.537 % | 03/20/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.495% | 04/28/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.419% | 02/24/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.570 % | 02/12/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.315% | 02/23/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.287 % | 01/29/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.187 % | 01/20/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.071% | 01/15/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.509 % | 06/24/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.567% | 04/17/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Treasury Bills | U.S. Treasury Bill | 3.509 % | 06/18/2026 2025-12-31 0001905824 Debt Investments |Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills |Federal Home Loan Bank Discount Note| 3.510 %| 01/30/2026 2025-12-31 0001905824 Debt Investments |Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note| 3.530 %| 12/13/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.533 % | 02/20/2026 2025-12-31 0001905824 Debt Investments | Short-Term Investments | U.S. Government Agencies | U.S. Treasury Bills | Federal Home Loan Bank Discount Note | 3.534 % | 02/25/2026 2025-12-31 0001905824 Debt Investments | Warrants |Retailers | West Marine/Rising Tide Holdings, Inc | 09/08/2088 2025-12-31 0001905824 Debt Investments | Warrants |Technology | GCOM | 08/11/2033 2025-12-31 0001905824 us-gaap:TechnologySectorMember 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ck0001905824:StandardCharteredBankMember us-gaap:ForeignExchangeForwardMember 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Delayed Term Loan | SOFR + 5.000% | 8.822% | 10/24/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Second Amendment Delayed Term Loan | SOFR + 5.000% | 8.854% | 10/24/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Revolving Credit Loan | SOFR + 5.000% | 8.672% | 10/24/2029 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Term Loan | SOFR + 5.000% | 8.822% | 10/24/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Second Amendment Term Loan | SOFR + 5.000% | 8.84% | 10/24/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Stepstone Group Midco 2 GmbH Term Loan | SOFR + 4.500% | 8.199% | 12/19/2031 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Gaming | Strategic Gaming Term Loan | SOFR + 7.000% | 10.905% | 10/15/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Healthcare | Acuity Eyecare Holdings, LLC Delayed Draw Term Loan | SOFR + 5.900% | 9.572% | 03/27/2027 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Healthcare | Paradigm Parent, LLC Initial Term Loan | SOFR + 4.500% | 8.172% | 04/16/2032 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Healthcare | U.S. Renal Care, Inc. Closing Date Term Loan | SOFR + 5.114% | 8.831% | 06/28/2028 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Healthcare | U.S. Renal Care, Inc. Term Loan | SOFR + 6.000% | 9.933% | 09/25/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Apex Service Partners, LLC Initial Delayed Term Loan | SOFR + 5.000% | 8.822% | 10/24/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Asurion, LLC B-12 Term Loan | SOFR + 4.250% | 7.966% | 09/19/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Cerity Partners Equity Holding LLC Initial Revolving Loan | SOFR + 4.500% | 8.172% | 07/28/2031 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Minotaur Acquisition, Inc. Delayed Draw A Term Loan | SOFR + 5.000% | 8.716% | 06/03/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Minotaur Acquisition, Inc. Delayed Draw B Term Loan | SOFR + 5.000% | 8.716% | 06/03/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Financial Other | Minotaur Acquisition, Inc. Term B Loan | SOFR + 5.000% | 8.716% | 06/03/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Food and Beverage | Golden State Foods, LLC Term Loan | SOFR + 4.000% | 7.672% |12/04/2031 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Industrial Other | Guardian Capital Term Loan | SOFR + 5.500% | 9.517% | 08/14/2032 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Chemicals | Puris LLC Term Loan | SOFR + 5.750% | 9.436% | 06/30/2031 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Consumer Products | DRS Holdings III, Inc. | SOFR + 5.250% | 8.966% | 11/01/2028 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Consumer Services | RKD Group Term Loan | SOFR + 5.500% | 9.378% | 05/19/2031 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Diversified Manufacturing | TK Elevator Midco GmbH Facility B Loan | SOFR + 2.750% | 6.947% | 04/30/2030 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Entertainment | SubCalidora 2 S.a r.l. Term Loan | EURIBOR + 5.750% | 7.75% | 08/14/2029 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Insurance Life | Integrity Marketing Acquisition, LLC Incremental Term Loan | SOFR + 5.000% | 8.822% | 08/25/2028 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | IT Services | Alorica, Inc. Term Loan | SOFR + 6.875% | 10.591% | 12/21/2027 2025-12-31 0001905824 Debt Investments | First Lien Senior Secured | Packaging | Clydesdale Acquisition Holdings, Inc. 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us-gaap:FairValueInputsLevel3Member ck0001905824:TermLoansThreeMember 2026-03-31 0001905824 us-gaap:FairValueInputsLevel3Member ck0001905824:TermLoansTwoMember 2026-03-31 iso4217:USD xbrli:shares xbrli:pure iso4217:USD xbrli:shares\n\n \n\n \n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n \n\n \n\nFORM\n10-Q\n\n \n\n \n\n \n\n☒\n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2026\n\n \n\n☐\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nCOMMISSION FILE NUMBER:\n814-01549\n\n \n\n \n\nPIMCO Capital Solutions BDC Corp.\n\n(Exact name of registrant as specified in its charter)\n\n \n\n \n\n \n\nDelaware\n\n \n\n87-4705230\n\n(State of incorporation)\n\n \n\n(I.R.S. Employer\n\nIdentification No.)\n\n650 Newport Center Drive\n\nNewport Beach,\nCA\n92660\n\n(Address of principal executive offices)\n\n(949) 720-6000\n\n(Registrant’s telephone number, including area code)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\nTitle of each class\n\n \n\nTrading Symbol(s)\n\n \n\nName of each exchange on which registered\n\n—\n\n \n\n—\n\n \n\n—\n\nSecurities registered pursuant to Section 12(g) of the Act:\n\nCommon Stock, par value $0.001 per share\n\n(Title of Class)\n\n \n\n \n\nIndicate 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  ☒ No  ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T\n(§ 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  ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a\nnon-accelerated\nfiler, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule\n12b-2\nof the Exchange Act.\n\n \n\nLarge accelerated filer\n \n☐\n  \nAccelerated filer\n \n☐\n\nNon-accelerated\nfiler\n \n☒\n  \nSmaller reporting company\n \n☐\n\nEmerging Growth Company\n \n☒\n  \n\n \n\nIf 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). ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule\n12b-2\nof the Exchange Act).  Yes ☐ No ☒\n\nThe issuer had 20,196,766 shares of common stock, $0.001 par value per share, outstanding as of May 1\n4\n, 2026.\n\n \n\n \n\n \n\n##### Table of Contents\n\nPIMCO CAPITAL SOLUTIONS BDC CORP.\n\nFORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026\n\nTable of Contents\n\n \n\n \n  \n\nINDEX\n\n  \nPAGE\nNO.\n \n\nPART I.\n\n  \nFINANCIAL INFORMATION"}