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
Q1 '26
Q2 '26

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