BDC·info
WHF

WhiteHorse Finance

Period
SEC EDGAR ↗
Portfolio Fair Value
$568.43M
132 holdings
Avg Spread
+6.67%
FV-weighted, debt
Avg Coupon
10.81%
FV-weighted
% First Lien
71.5%
of debt FV
Unrealized P/L
-$42.47M
-6.95% of cost
Non-Accrual
0
text-detected

Balance sheet

Assets$626.00M
Liabilities + Equity$626.00M
First Lien
$406.70M · 65.0%
Subordinated
$84.42M · 13.5%
Debt (Borrowings)
$323.53M · 51.7%
Net Assets (Equity)
$265.25M · 42.4%

Industry Composition

Specialized Finance
18.6%
Air Freight & Logistics
5.1%
Integrated Telecommunication Services
4.8%
Data Processing & Outsourced Services
4.8%
Systems Software
4.7%
Home Furnishings
4.4%
Application Software
4.2%
Leisure Products
4.2%
Real Estate Services
3.6%
Education Services
3.6%
Health Care Supplies
3.4%
Technology Hardware, Storage & Peripherals
3.3%
Other industries
35.3%

Fair Value History

Q2 '23
Q3 '23
Q4 '23
Q1 '24
Q2 '24
Q3 '24
Q4 '24
Q1 '25
Q2 '25
Q3 '25
Q4 '25

Spread Distribution

1.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
Schedule of Investments

All holdings

All holdings
Sortable, click headers to re-sort
132 of 132
IssuerIndustryType
Fair Value
Cost
Unrealized
Coupon
Spread
Maturity
WHF STRS Ohio Senior Loan Fund LLC
Specialized Finance
Subordinated Note
$84.42M
$84.42M
$0.00
Sleep OpCo LLC
Home Furnishings
First Lien Secured Term Loan
$22.16M
$22.05M
$109.0K
10.94%+6.50%
WHF STRS Ohio Senior Loan Fund LLC
Specialized Finance
Interests
$21.41M
$21.10M
$302.0K
ABB/Con-cise Optical Group LLC
Health Care Supplies
First Lien Secured Term Loan
$19.54M
$20.20M
-$669.0K
11.65%+7.50%
Future Payment Technologies, LP
Data Processing & Outsourced Services
First Lien Secured Term Loan
$19.49M
$19.47M
$19.0K
12.63%+8.25%
GTT Communications Global, LLC (d/b/a GTT Communications, Inc.)
Integrated Telecommunication Services
First Lien Secured Term Loan
$15.05M
$15.04M
$16.0K
10.14%+6.00%
Zephyr Buyer, L.P. (d/b/a The Weather Company, LLC)
Interactive Media & Services
First Lien Secured Term Loan
$13.93M
$13.72M
$203.0K
9.25%+5.25%
Leviathan Intermediate Holdco, LLC
Leisure Products
First Lien Secured Term Loan
$13.56M
$13.50M
$57.0K
10.00%+6.00%
Trimlite Buyer LLC
Building Products
First Lien Secured Term Loan
$13.49M
$15.04M
-$1.55M
8.27%+5.50%
W Electric Intermediate Holdings, LLC (d/b/a Westinghouse Electric Corporation)
Industrial Machinery & Supplies & Components
First Lien Secured Term Loan
$12.34M
$12.15M
$189.0K
10.16%+6.00%
EducationDynamics, LLC
Education Services
First Lien Secured Term Loan
$12.31M
$12.76M
-$442.0K
10.76%+6.50%
Patagonia Hold co Llc
Integrated Telecommunication Services
First Lien Secured Term Loans
$12.21M
$12.78M
-$574.0K
9.98%+5.75%
Telestream 2 LLC (d/b/a Telestream Holdings Corporation)
Technology Hardware, Storage & Peripherals
First Lien Secured Term Loan
$11.44M
$11.44M
$0.00
10.54%+6.25%
Motivational Marketing, LLC
Air Freight & Logistics
First Lien Secured Term Loan
$10.84M
$10.81M
$31.0K
12.76%+8.50%
The Kyjen Company, LLC
Household Products
First Lien Secured Term Loan
$10.13M
$11.39M
-$1.26M
11.61%+7.50%
Oil & Gas Storage & Transportation First Lien Secured Term Loan
Oil & Gas Storage & Transportation
Debt Investments
$10.09M
$10.09M
-$1.0K
10.07%+5.75%
Camp Facility Services Holdings, LLC (d/b/a Camp Construction Services, Inc.)
Real Estate Services
First Lien Secured Term Loan
$9.81M
$10.25M
-$446.0K
10.76%+6.50%
UserZoom Technologies, Inc.
Application Software
First Lien Secured Term Loan
$9.71M
$9.65M
$52.0K
11.63%+7.50%
M2S Group Intermediate Holdings, Inc.
Paper Products
First Lien Secured Term Loan
$9.25M
$8.81M
$440.0K
9.06%+4.75%
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Term Loan
$9.25M
$9.06M
$185.0K
11.51%+7.25%
MBS Highway, LLC
Application Software
First Lien Secured Term Loan
$9.18M
$9.13M
$48.0K
12.35%+8.00%
Arcserve Cayman Topco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Common Units
$9.13M
$19.57M
-$10.44M
Monarch Collective Holdings, LLC
Real Estate Services
First Lien Secured Term Loan
$9.10M
$9.08M
$14.0K
10.75%+6.75%
TOT Group, Inc. (d/b/a Netevia Group LLC)
Transaction & Payment Processing Services
First Lien Secured Term Loan
$8.99M
$9.00M
-$13.0K
11.25%+7.25%
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.)
Air Freight & Logistics
First Lien Secured Term Loan
$8.69M
$8.81M
-$122.0K
11.16%+7.00%
Ribbon Communications Operating Company, Inc. (d/b/a Ribbon Communications Inc.)
Systems Software
First Lien Secured Term Loan
$8.69M
$8.53M
$159.0K
10.41%+6.25%
Bridgepoint Healthcare, LLC
Health Care Facilities
First Lien Secured Term Loan
$8.10M
$8.07M
$33.0K
12.26%+8.00%
NNA Services, LLC
Diversified Support Services
First Lien Secured Term Loan
$8.07M
$8.13M
-$52.0K
11.40%+7.25%
ELM One Call Locators, Inc.
Construction & Engineering
First Lien Secured Term Loan
$7.92M
$7.48M
$437.0K
10.39%+6.25%
Transervice Holdings, Inc. (d/b/a Transervice Logistics, Inc.)
Air Freight & Logistics
First Lien Secured Term Loan
$7.77M
$7.63M
$141.0K
11.51%+7.25%
Telestream Topco 2 LLC (d/b/a Telestream Holdings Corporation)
Technology Hardware, Storage & Peripherals
Common Units
$7.55M
$7.11M
$445.0K
BUSA Acquisition Co. (d/b/a BankCard USA Merchant Services Inc.) First Lien Secured Term Loan
Data Processing & Outsourced Services
Debt Investments
$7.40M
$7.32M
$85.0K
10.68%+6.50%
Wamp;A Intermediate Co., LLC
Health Care Services
First Lien Secured Term Loan
$7.08M
$7.06M
$19.0K
10.41%+6.25%
Event Services America, Inc. (d/b/a Contemporary Services Corporation)
Security & Alarm Services
First Lien Secured Term Loan
$7.02M
$6.83M
$185.0K
10.91%+6.75%
LogicMonitor, Inc.
Systems Software
First Lien Secured Term Loan
$6.20M
$6.15M
$45.0K
9.81%+5.50%
Surge Amuze Holdings Inc.
Leisure Products
First Lien Secured Term Loan
$5.66M
$5.60M
$57.0K
10.38%+6.25%
Lift Brands, Inc
Leisure Facilities
First Lien Secured Term Loan A
$5.16M
$5.16M
$1.0K
11.76%+7.50%
Camarillo Fitness Holdings, LLC
Leisure Facilities
First Lien Secured Term Loan
$5.08M
$10.23M
-$5.15M
+8.50%
Salon Republic Holdings, LLC
Specialized Consumer Services
First Lien Secured Term Loan
$5.03M
$4.98M
$48.0K
12.26%+8.00%
Mamp;M OpCo. LLC (d/b/a Escalent, Inc.)
Research & Consulting Services
First Lien Secured Term Loan
$4.86M
$4.78M
$85.0K
10.00%+6.00%
Claridge Products and Equipment, LLC
Construction Materials
First Lien Secured Term Loan
$4.70M
$5.63M
-$935.0K
13.01%+8.75%
Kelso Industries LLC
Construction & Engineering
First Lien Secured Term Loan
$4.44M
$4.36M
$76.0K
9.91%+5.75%
Four Winds Health, LLC
Health Care Facilities
First Lien Secured Term Loan
$4.29M
$4.29M
$0.00
11.31%+7.00%
Media Source, LLC (d/b/a Media Source Inc.)
Education Services
First Lien Secured Term Loan
$4.20M
$4.20M
$0.00
9.92%+5.75%
PANOS Brands, LLC
Packaged Foods & Meats
First Lien Secured Term Loan #One
$4.05M
$3.98M
$75.0K
9.91%+5.75%
Pressurized Holdings, LLC
Diversified Chemicals
Preferred Units
$3.71M
$4.54M
-$828.0K
Chase Products Co. (f/k/a Starco) Second Lien Secured Term Loan
Diversified Chemicals
Debt Investments
$3.40M
$3.40M
$0.00
TVG I-EMSI Parent, LLC
Education Services
Class B units
$3.29M
$3.29M
$0.00
Infotree Holdco LLC
Human Resource & Employment Services
First Lien Secured Term Loan
$2.89M
$2.90M
-$9.0K
9.75%+5.75%
Whitestone Home Furnishings, LLC (d/b/a Saatva, Inc.)
Home Furnishings
First Lien Secured Term Loan
$2.86M
$2.84M
$23.0K
9.41%+5.25%
Token Buyer, Inc
Household Appliances
First Lien Secured Term Loan
$2.81M
$3.45M
-$637.0K
10.46%+6.00%
Snap Fitness Holdings, Inc
Leisure Facilities
First Lien Secured Term Loan C
$2.05M
$2.04M
$3.0K
Colonnade Parent, Inc. (d/b/a Naviga Inc.)
Application Software
First Lien Secured Term Loan
$1.94M
$3.04M
-$1.10M
5.10%+1.00%
What If Media Group, LLC
Interactive Media & Services
Common Units
$1.84M
$851.0K
$994.0K
Lift Brands, Inc
Leisure Facilities
First Lien Secured Term Loan B
$1.71M
$1.71M
$0.00
Salon Republic Holdings, LLC
Specialized Consumer Services
First Lien Secured Delayed Draw Loan
$1.66M
$1.64M
$17.0K
12.26%+8.00%
Playmonster Group LLC
Leisure Products
First Lien Secured Term Loan
$1.62M
$3.66M
-$2.04M
+9.00%
Monarch Collective Holdings, LLC
Real Estate Services
First Lien Secured Delayed Draw Loan
$1.56M
$1.56M
-$4.0K
10.84%+6.75%
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan
$1.50M
$1.68M
-$184.0K
13.75%+6.50%
BPII-JL Group Holdings LP (d/b/a Juniper Landscaping Holdings LLC)
Environmental & Facilities Services
Class A Units
$1.44M
$942.0K
$498.0K
Playmonster Group LLC
Leisure Products
Priority First Lien Secured Term Loan
$1.30M
$1.40M
-$92.0K
+6.75%
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
First Lien Secured Delayed Draw Loan
$1.25M
$750.0K
$495.0K
+8.00%
Quest Events, LLC
Diversified Support Services
First Lien Secured Term Loan
$1.21M
$1.25M
-$37.0K
10.52%+6.50%
Bridgepoint Healthcare, LLC
Health Care Facilities
First Lien Secured Revolving Loan
$1.19M
$1.19M
$7.0K
12.25%+8.00%
Motivational Marketing, LLC
Air Freight & Logistics
First Lien Secured Revolving Loan
$1.18M
$1.18M
$4.0K
12.75%+8.50%
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan Two
$1.15M
$8.96M
-$7.80M
13.25%+6.00%
TOT Group, Inc. (d/b/a Netevia Group LLC)
Transaction & Payment Processing Services
First Lien Secured Delayed Draw Loan
$1.08M
$1.08M
$0.00
11.25%+7.25%
Surge Amuze Holdings Inc.
Leisure Products
First Lien Secured Delayed Draw Loan
$1.00M
$989.0K
$14.0K
10.35%+6.25%
Maxor Acquisition, Inc.
Health Care Services
First Lien Secured Delayed Draw Loan
$944.0K
$932.0K
$12.0K
10.26%+6.00%
BBQ Buyer, LLC
Household Appliances
Shares
$867.0K
$1.10M
-$233.0K
Juniper Landscaping Holdings LLC
Environmental & Facilities Services
First Lien Secured Delayed Draw Loan
$802.0K
$795.0K
$7.0K
9.84%+5.75%
Ross-Simons Topco, LP
Broadline Retail
Preferred Units
$753.0K
$514.0K
$239.0K
BL Products Parent, LP (d/b/a Bishop Lifting Products, Inc.)
Industrial Machinery & Supplies & Components
Class A Units
$726.0K
$788.0K
-$62.0K
CX Holdco LLC
IT Consulting & Other Services
Common Units
$679.0K
$1.12M
-$437.0K
Avision Holdings, LLC (d/b/a Avision Sales Group)
Advertising
First Lien Secured Term Loan
$654.0K
$647.0K
$7.0K
10.15%+6.00%
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Delayed Draw Loan
$643.0K
$630.0K
$13.0K
11.51%+7.25%
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Unsecured Loan #Two
$636.0K
$627.0K
$9.0K
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Unsecured Loan #One
$622.0K
$612.0K
$10.0K
Keras Holdings, LLC
IT Consulting & Other Services
Shares
$622.0K
$496.0K
$126.0K
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Revolving Loan
$572.0K
$562.0K
$10.0K
11.51%+7.25%
Avision Holdings, LLC (d/b/a Avision Sales Group)
Advertising
First Lien Secured Delayed Draw Loan
$567.0K
$544.0K
$23.0K
10.15%+6.00%
Snap Fitness Holdings, Inc
Leisure Facilities
Class A Common Stock
$506.0K
$1.94M
-$1.44M
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.)
Air Freight & Logistics
First Lien Secured Revolving Loan
$484.0K
$496.0K
-$12.0K
11.17%+7.00%
Surge Amuze Holdings Inc.
Leisure Products
First Lien Secured Revolving Loan
$451.0K
$444.0K
$7.0K
11.09%+5.90%
Juniper Landscaping Holdings LLC
Environmental & Facilities Services
First Lien Secured Term Loan
$450.0K
$449.0K
$1.0K
9.76%+5.75%
Claridge Products and Equipment, LLC
Construction Materials
First Lien Secured Revolving Loan
$445.0K
$561.0K
-$116.0K
13.76%+8.38%
Avision Holdings, LLC (d/b/a Avision Sales Group)
Advertising
Class A LLC Interests
$386.0K
$299.0K
$87.0K
Vistria Blocked MGT Investor, LP (d/b/a MGT Consulting Group)
IT Consulting & Other Services
Series A Units
$358.0K
Wamp;A Intermediate Co., LLC
Health Care Services
First Lien Secured Revolving Loan
$342.0K
$340.0K
$2.0K
10.37%+6.25%
EducationDynamics, LLC
Education Services
First Lien Secured Revolving Loan
$316.0K
$358.0K
-$42.0K
12.75%+7.25%
Merriman Holdings LP (d/b/a Escalent, Inc.)
Research & Consulting Services
Class A Units
$314.0K
$333.0K
-$19.0K
MGT Merger Target, LLC (d/b/a MGT Consulting Group)
IT Consulting & Other Services
First Lien Secured Delayed Draw Loan
$284.0K
$282.0K
$2.0K
9.15%+5.00%
BUSA Acquisition Co. (d/b/a BankCard USA Merchant Services Inc.) First Lien Secured Revolving Loan
Data Processing & Outsourced Services
Debt Investments
$280.0K
$270.0K
$10.0K
10.34%+6.50%
Twin Ridge CRS, LP (d/b/a CRS OneSource)
Food Distributors
Class A Common Units
$278.0K
$317.0K
-$39.0K
Salon Republic Investments LLC
Specialized Consumer Services
Preferred Stock
$257.0K
$200.0K
$57.0K
Media Source, LLC (d/b/a Media Source Inc.)
Education Services
First Lien Secured Revolving Loan
$230.0K
$213.0K
$17.0K
9.88%+5.75%
Snap Fitness Holdings, Inc
Leisure Facilities
Warrants
$205.0K
$793.0K
-$588.0K
Quest Events, LLC
Diversified Support Services
First Lien Secured Revolving Loan
$202.0K
$209.0K
-$7.0K
+7.00%
Sterling Pure Blocker, LLC (d/b/a Banner Industries, Inc.)
Construction & Engineering
Class B Units
$168.0K
$404.0K
-$236.0K
Colonnade Parent, Inc. (d/b/a Naviga Inc.)
Application Software
First Lien Secured Revolving Loan
$159.0K
$291.0K
-$132.0K
5.10%+1.00%
Alvaria Holdco (Cayman) (d/b/a Aspect Software, Inc.)
Application Software
First Lien Secured Term Loan One
$146.0K
$1.00M
-$858.0K
13.75%+6.50%
Juniper Landscaping Holdings LLC
Environmental & Facilities Services
First Lien Secured Revolving Loan
$127.0K
$126.0K
$1.0K
9.75%+5.75%
Infotree Holdco LLC
Human Resource & Employment Services
First Lien Secured Revolving Loan
$123.0K
$125.0K
-$2.0K
9.91%+5.75%
Motivational CIV, LLC
Air Freight & Logistics
Class B Units
$123.0K
$1.25M
-$1.13M
Quest Events, LLC
Diversified Support Services
Common Units
$118.0K
$385.0K
-$267.0K
Mamp;M OpCo. LLC (d/b/a Escalent, Inc.)
Research & Consulting Services
First Lien Secured Revolving Loan
$93.0K
$89.0K
$4.0K
9.99%+6.00%
Education Dynamics, LLC
Education Services
Senior Preferred Units
$91.0K
$167.0K
-$76.0K
PANOS Brands, LLC
Packaged Foods & Meats
First Lien Secured Revolving Loan #One
$60.0K
$54.0K
$6.0K
9.95%+5.75%
Salon Republic Investments LLC
Specialized Consumer Services
Common Stock
$32.0K
$400.0K
-$368.0K
Camp Facility Services Parent, LLC
Real Estate Services
Preferred Units
$30.0K
$840.0K
-$810.0K
Zephyr Buyer, L.P. (d/b/a The Weather Company, LLC)
Interactive Media & Services
First Lien Secured Revolving Loan
$26.0K
9.25%+5.25%
Alvaria Holdco (Cayman) (d/b/a Aspect Software, Inc.)
Application Software
First Lien Secured Term Loan Three
$24.0K
$2.24M
-$2.21M
13.25%+6.00%
Telestream 2 LLC (d/b/a Telestream Holdings Corporation)
Technology Hardware, Storage & Peripherals
First Lien Secured Revolving Loan
$22.0K
10.54%+6.25%
ELM One Call Locators, Inc.
Construction & Engineering
First Lien Secured Revolving Loan
$16.0K
10.39%+6.25%
Ribbon Communications Operating Company, Inc. (d/b/a Ribbon Communications Inc.)
Systems Software
First Lien Secured Revolving Loan
$13.0K
10.41%+6.25%
Sleep OpCo LLC
Home Furnishings
First Lien Secured Revolving Loan
$11.0K
10.94%+6.50%
Kelso Industries LLC
Construction & Engineering
First Lien Secured Delayed Draw Loan
$9.0K
9.91%+5.75%
Salon Republic Holdings, LLC
Specialized Consumer Services
First Lien Secured Revolving Loan
$9.0K
12.26%+8.00%
LogicMonitor
Systems Software
Inc.- First Lien Secured Revolving Loan
$6.0K
9.81%+5.50%
Leviathan Intermediate Holdco, LLC
Leisure Products
First Lien Secured Revolving Loan
$3.0K
10.00%+6.00%
Eddy Acquisitions, LLC (d/b/a EducationDynamics, LLC)
Education Services
Preferred Units
$0.00
$167.0K
-$167.0K
ImageOne Industries, LLC
Advertising
Common A Units
$0.00
$13.0K
-$13.0K
Max Solutions Inc.
Paper & Plastic Packaging Products & Materials
Common Stock
$0.00
$400.0K
-$400.0K
PFB Holdco, Inc
Building Products
Class A Units
$0.00
$24.0K
-$24.0K
Playmonster Group Equity, Inc
Leisure Products
Common Stock
$0.00
$460.0K
-$460.0K
Playmonster Group Equity, Inc.
Leisure Products
Preferred Stock
$0.00
$3.60M
-$3.60M
TOT Group, Inc. (d/b/a Netevia Group LLC)
Transaction & Payment Processing Services
First Lien Secured Revolving Loan
-$1.0K
11.25%+7.25%
Wamp;A Intermediate Co., LLC
Health Care Services
First Lien Secured Delayed Draw Loan
-$6.0K
10.41%+6.25%
The Kyjen Company, LLC
Household Products
First Lien Secured Revolving Loan
-$104.0K
11.61%+7.50%
Camarillo Fitness Holdings, LLC
Leisure Facilities
First Lien Secured Delayed Draw Loan
-$154.0K
$811.0K
-$965.0K
+8.50%
Arcserve Cayman GP LLC (d/b/a Arcserve (USA), LLC)
Systems Software
Common Units
TVG I-EMSI Parent, LLC
Education Services
Class A units
Disclosed holdings FV
$568.43M
Parsed holdings FV
$568.43M
Residual gap
$0.00
Balance-sheet cash
$9.54M
CIK
0001552198
Accession
0001104659-25-108820
Form type
10-Q
Period
2025-09-30