BDC·info
WHF

WhiteHorse Finance

Period
SEC EDGAR ↗
Portfolio Fair Value
$651.00M
147 holdings
Avg Spread
+7.09%
FV-weighted, debt
Avg Coupon
11.25%
FV-weighted
% First Lien
78.1%
of debt FV
Unrealized P/L
-$52.85M
-7.51% of cost
Non-Accrual
0
text-detected

Balance sheet

Assets$678.77M
Liabilities + Equity$678.77M
First Lien
$508.69M · 74.9%
Subordinated
$84.42M · 12.4%
Debt (Borrowings)
$361.13M · 53.2%
Net Assets (Equity)
$281.45M · 41.5%

Industry Composition

Specialized Finance
16.4%
Air Freight & Logistics
4.5%
Data Processing & Outsourced Services
4.3%
Systems Software
4.1%
Application Software
4.1%
Home Furnishings
3.9%
Leisure Products
3.6%
Commodity Chemicals
3.5%
Building Products
3.5%
Education Services
3.2%
Leisure Facilities
3.2%
Real Estate Services
3.2%
Other industries
42.7%

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

4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
9.5%
10.5%
Schedule of Investments

All holdings

All holdings
Sortable, click headers to re-sort
147 of 148
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
$22.31M
$22.28M
$26.0K
10.95%+6.50%
WHF STRS Ohio Senior Loan Fund LLC
Specialized Finance
Interests
$22.30M
$21.10M
$1.20M
Future Payment Technologies, LP
Data Processing & Outsourced Services
First Lien Secured Term Loan
$20.11M
$20.08M
$28.0K
12.67%+8.25%
ABB/Con-cise Optical Group LLC
Health Care Supplies
First Lien Secured Term Loan
$19.16M
$20.16M
-$1.00M
11.95%+7.50%
Telestream Holdings Corporation
Technology Hardware, Storage & Peripherals
First Lien Secured Term Loan
$17.42M
$17.50M
-$80.0K
+9.75%
CleanChoice Energy, Inc
Electric Utilities
First Lien Secured Term Loan
$16.04M
$15.82M
$219.0K
12.04%+7.59%
FGI Acquisition Corp. (d/b/a Flexitallic Group SAS)
Commodity Chemicals
First Lien Secured Term Loan
$15.98M
$15.76M
$226.0K
10.95%+6.50%
Zephyr Buyer, L.P. (d/b/a The Weather Company, LLC)
Interactive Media & Services
First Lien Secured Term Loan
$14.19M
$13.77M
$423.0K
10.80%+6.50%
Leviathan Intermediate Holdco, LLC
Leisure Products
First Lien Secured Term Loan
$13.52M
$13.53M
-$7.0K
10.30%+6.00%
Trimlite Buyer LLC
Building Products
First Lien Secured Term Loan
$13.17M
$15.02M
-$1.85M
8.48%+5.50%
Patagonia Hold co Llc
Integrated Telecommunication Services
First Lien Secured Term Loans
$13.10M
$12.66M
$443.0K
10.05%+5.75%
BBQ Buyer, LLC
Household Appliances
First Lien Secured Term Loan
$12.99M
$13.02M
-$33.0K
14.92%+10.50%
EducationDynamics, LLC
Education Services
First Lien Secured Term Loan
$12.43M
$12.91M
-$484.0K
10.93%+6.50%
W Electric Intermediate Holdings, LLC (d/b/a Westinghouse Electric Corporation)
Industrial Machinery & Supplies & Components
First Lien Secured Term Loan
$12.29M
$12.13M
$154.0K
10.82%+6.50%
Camarillo Fitness Holdings, LLC
Leisure Facilities
First Lien Secured Term Loan
$10.74M
$10.23M
$511.0K
+8.50%
The Kyjen Company, LLC
Household Products
First Lien Secured Term Loan
$10.67M
$11.31M
-$643.0K
11.93%+7.50%
Motivational Marketing, LLC
Air Freight & Logistics
First Lien Secured Term Loan
$9.97M
$10.67M
-$698.0K
12.92%+8.50%
UserZoom Technologies, Inc.
Application Software
First Lien Secured Term Loan
$9.78M
$9.63M
$152.0K
11.80%+7.50%
Camp Facility Services Holdings, LLC
Real Estate Services
First Lien Secured Term Loan
$9.77M
$10.30M
-$528.0K
10.92%+6.50%
M2S Group Intermediate Holdings, Inc.
Paper Products
First Lien Secured Term Loan
$9.45M
$9.14M
$306.0K
9.05%+4.75%
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Term Loan
$9.37M
$9.24M
$127.0K
11.67%+7.25%
MBS Highway, LLC
Application Software
First Lien Secured Term Loan
$9.23M
$9.15M
$74.0K
12.70%+8.00%
Monarch Collective Holdings, LLC
Real Estate Services
First Lien Secured Term Loan
$9.16M
$9.11M
$49.0K
11.05%+6.75%
Arcserve Cayman Topco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Common Units #Two
$9.12M
$19.57M
-$10.45M
SCIC Buyer, Inc.
Building Products
First Lien Secured Term Loan
$9.02M
$9.02M
$0.00
9.30%+5.00%
TOT Group, Inc. (d/b/a Netevia Group LLC)
Transaction & Payment Processing Services
First Lien Secured Term Loan
$9.01M
$9.00M
$4.0K
11.55%+7.25%
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.)
Air Freight & Logistics
First Lien Secured Term Loan
$8.75M
$8.80M
-$54.0K
11.92%+7.50%
Ribbon Communications Operating Company, Inc. (d/b/a Ribbon Communications Inc.)
Systems Software
First Lien Secured Term Loan
$8.72M
$8.59M
$138.0K
10.57%+6.25%
Transervice Holdings, Inc. (d/b/a Transervice Logistics, Inc.)
Air Freight & Logistics
First Lien Secured Term Loan
$8.63M
$8.44M
$189.0K
11.67%+7.25%
Power Service Group CR Acquisition Inc
Heavy Electrical Equipment
First Lien Secured Term Loan
$8.41M
$8.28M
$127.0K
11.20%+6.75%
Bridgepoint Healthcare, LLC
Health Care Facilities
First Lien Secured Term Loan
$8.34M
$8.33M
$8.0K
12.42%+8.00%
NNA Services, LLC
Diversified Support Services
First Lien Secured Term Loan
$8.15M
$8.26M
-$111.0K
11.70%+7.25%
BUSA Acquisition Co. (d/b/a BankCard USA Merchant Services Inc.) First Lien Secured Term Loan
Data Processing & Outsourced Services
Debt Investments
$7.60M
$7.49M
$103.0K
10.77%+6.50%
MSI Information Services, Inc.
Education Services
First Lien Secured Term Loan
$7.54M
$8.56M
-$1.02M
+9.75%
Wamp;A Intermediate Co., LLC
Health Care Services
First Lien Secured Term Loan
$7.54M
$7.54M
$2.0K
10.55%+6.25%
Coastal Television Broadcasting Group LLC
Broadcasting
First Lien Secured Term Loan
$7.51M
$7.49M
$29.0K
10.92%+6.50%
ELM One Call Locators, Inc.
Construction & Engineering
First Lien Secured Term Loan
$7.50M
$7.50M
$0.00
10.58%+6.25%
Event Services America, Inc. (d/b/a Contemporary Services Corporation)
Security & Alarm Services
First Lien Secured Term Loan
$7.05M
$6.85M
$203.0K
11.07%+6.75%
WCHG Buyer, Inc.
Commodity Chemicals
First Lien Secured Term Loan
$6.97M
$6.97M
$0.00
9.30%+5.00%
LogicMonitor, Inc.
Systems Software
First Lien Secured Term Loan
$6.15M
$6.15M
$7.0K
9.79%+5.50%
Surge Amuze Holdings Inc.
Leisure Products
First Lien Secured Term Loan
$5.67M
$5.62M
$44.0K
10.30%+6.00%
Lift Brands, Inc
Leisure Facilities
First Lien Secured Term Loan A
$5.45M
$5.44M
$4.0K
11.92%+7.50%
Lab Logistics, LLC
Health Care Services
First Lien Secured Term Loan
$5.37M
$5.37M
$2.0K
11.67%+7.25%
Claridge Products and Equipment, LLC
Construction Materials
First Lien Secured Term Loan
$5.11M
$5.73M
-$617.0K
13.17%+8.75%
Salon Republic Holdings, LLC
Specialized Consumer Services
First Lien Secured Term Loan
$5.05M
$4.98M
$66.0K
12.42%+8.00%
Lab Logistics, LLC
Health Care Services
First Lien Secured Delayed Draw Loan
$5.01M
$5.01M
$0.00
11.67%+7.25%
Mamp;M OpCo. LLC (d/b/a Escalent, Inc.)
Research & Consulting Services
First Lien Secured Term Loan
$4.91M
$4.82M
$97.0K
12.40%+8.00%
Impact Advisors, LLC
Health Care Technology
First Lien Secured Term Loan
$4.16M
$4.16M
$0.00
9.06%+4.75%
Luxury Brand Holdings, Inc
Broadline Retail
First Lien Secured Term Loan
$4.08M
$4.06M
$17.0K
9.82%+5.50%
PANOS Brands, LLC
Packaged Foods & Meats
First Lien Secured Term Loan #One
$4.05M
$3.99M
$60.0K
10.07%+5.75%
Kelso Industries LLC
Construction & Engineering
First Lien Secured Term Loan
$3.91M
$3.91M
$1.0K
10.07%+5.75%
Token Buyer, Inc
Household Appliances
First Lien Secured Term Loan
$3.77M
$4.84M
-$1.07M
10.44%+6.00%
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan Three
$3.64M
$9.05M
-$5.41M
11.44%+7.00%
Chase Products Co. (f/k/a Starco) Second Lien Secured Term Loan
Diversified Chemicals
Debt Investments
$3.44M
$3.44M
$0.00
Whitestone Home Furnishings, LLC (d/b/a Saatva, Inc.)
Home Furnishings
First Lien Secured Term Loan
$2.93M
$2.88M
$47.0K
10.32%+6.00%
Infotree Holdco LLC
Human Resource & Employment Services
First Lien Secured Term Loan
$2.91M
$2.91M
$0.00
10.05%+5.75%
BBQ Buyer, LLC
Household Appliances
First Lien Secured Delayed Draw Loan
$2.65M
$2.65M
-$7.0K
14.92%+10.50%
Pressurized Holdings, LLC
Diversified Chemicals
Preferred Units
$2.22M
$4.54M
-$2.31M
CX Holdco LLC
IT Consulting & Other Services
Common Units
$1.88M
$1.12M
$767.0K
Snap Fitness Holdings, Inc
Leisure Facilities
First Lien Secured Term Loan C
$1.83M
$1.86M
-$31.0K
What If Media Group, LLC
Interactive Media & Services
Common Units
$1.76M
$851.0K
$911.0K
Naviga Inc
Application Software
First Lien Secured Term Loan
$1.68M
$3.14M
-$1.46M
12.40%+7.00%
Salon Republic Holdings, LLC
Specialized Consumer Services
First Lien Secured Delayed Draw Loan
$1.67M
$1.64M
$25.0K
12.42%+8.00%
Lift Brands, Inc
Leisure Facilities
First Lien Secured Term Loan B
$1.63M
$1.63M
$1.0K
Playmonster Group LLC
Leisure Products
First Lien Secured Term Loan
$1.60M
$3.66M
-$2.06M
+9.00%
Monarch Collective Holdings, LLC
Real Estate Services
First Lien Secured Delayed Draw Loan
$1.57M
$1.57M
$0.00
11.05%+6.75%
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan
$1.48M
$1.66M
-$177.0K
11.94%+7.50%
BPII-JL Group Holdings LP
Environmental & Facilities Services
Class A Units
$1.43M
$942.0K
$492.0K
Power Service Group CR Acquisition Inc
Heavy Electrical Equipment
First Lien Delayed Draw Loan
$1.30M
$1.27M
$22.0K
11.20%+6.75%
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
First Lien Secured Delayed Draw Loan
$1.24M
$700.0K
$544.0K
+8.00%
Quest Events, LLC
Diversified Support Services
First Lien Secured Term Loan
$1.24M
$1.24M
$0.00
10.80%+6.50%
Playmonster Group LLC
Leisure Products
Priority First Lien Secured Term Loan
$1.21M
$1.31M
-$109.0K
+6.75%
Motivational Marketing, LLC
Air Freight & Logistics
First Lien Secured Revolving Loan
$1.10M
$1.18M
-$77.0K
12.92%+8.50%
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
11.55%+7.25%
Telestream Holdings Corporation
Technology Hardware, Storage & Peripherals
First Lien Secured Revolving Loan
$1.03M
$1.05M
-$24.0K
+9.75%
BL Products Parent, LP
Industrial Machinery & Supplies & Components
Class A Units
$1.01M
$788.0K
$224.0K
BBQ Buyer, LLC
Household Appliances
Shares
$970.0K
$1.10M
-$130.0K
Maxor Acquisition, Inc.
Health Care Services
First Lien Secured Delayed Draw Loan
$946.0K
$936.0K
$10.0K
10.42%+6.00%
MSI Information Services, Inc.
Education Services
First Lien Secured Revolving Loan
$870.0K
$1.04M
-$174.0K
+8.82%
Keras Holdings, LLC
IT Consulting & Other Services
Shares
$782.0K
$496.0K
$286.0K
Ross-Simons Topco, LP
Broadline Retail
Preferred Units
$776.0K
$514.0K
$262.0K
Surge Amuze Holdings Inc.
Leisure Products
First Lien Secured Revolving Loan
$724.0K
$719.0K
$5.0K
12.05%+5.20%
Camarillo Fitness Holdings, LLC
Leisure Facilities
First Lien Secured Delayed Draw Loan
$717.0K
$811.0K
-$94.0K
+8.50%
Avision Holdings, LLC (d/b/a Avision Sales Group)
Advertising
First Lien Secured Term Loan
$652.0K
$648.0K
$4.0K
10.45%+6.00%
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Delayed Draw Loan
$640.0K
$632.0K
$8.0K
11.67%+7.25%
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.)
Air Freight & Logistics
First Lien Secured Revolving Loan
$631.0K
$635.0K
-$4.0K
11.92%+7.50%
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Unsecured Loan #Two
$608.0K
$597.0K
$11.0K
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Unsecured Loan #One
$594.0K
$583.0K
$11.0K
Surge Amuze Holdings Inc.
Leisure Products
First Lien Secured Delayed Draw Loan
$583.0K
$572.0K
$11.0K
10.46%+6.00%
Avision Holdings, LLC (d/b/a Avision Sales Group)
Advertising
First Lien Secured Delayed Draw Loan
$560.0K
$544.0K
$16.0K
10.45%+6.00%
Claridge Products and Equipment, LLC
Construction Materials
First Lien Secured Revolving Loan
$554.0K
$630.0K
-$76.0K
14.10%+8.31%
Avision Holdings, LLC
Advertising
Class A LLC Interests
$547.0K
$287.0K
$260.0K
Vistria Blocked MGT Investor, LP (d/b/a MGT Consulting Group)
IT Consulting & Other Services
Series A Units
$516.0K
$314.0K
$202.0K
Lab Logistics, LLC
Health Care Services
First Lien Secured Revolving Loan
$437.0K
$437.0K
$0.00
11.67%+7.25%
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan Two
$418.0K
$1.01M
-$593.0K
11.94%+7.50%
Merriman Holdings LP (d/b/a Escalent, Inc.)
Research & Consulting Services
Class A Units
$346.0K
$333.0K
$13.0K
Twin Ridge CRS, LP (d/b/a CRS OneSource)
Food Distributors
Class A Common Units
$331.0K
$317.0K
$14.0K
Foodservices Brand Group, LLC
Distributors
First Lien Secured Term Loan
$321.0K
$357.0K
-$36.0K
12.62%+8.00%
The Kyjen Company, LLC
Household Products
First Lien Secured Revolving Loan
$321.0K
$374.0K
-$53.0K
11.95%+7.50%
SCIC Buyer, Inc.
Building Products
First Lien Secured Revolving Loan
$291.0K
$291.0K
$0.00
9.30%+5.00%
Sterling Pure Blocker, LLC (d/b/a Banner Industries, Inc.)
Construction & Engineering
Class B Units
$285.0K
$404.0K
-$119.0K
Snap Fitness Holdings, Inc
Leisure Facilities
Class A Common Stock
$282.0K
$1.94M
-$1.66M
BUSA Acquisition Co. (d/b/a BankCard USA Merchant Services Inc.) First Lien Secured Revolving Loan
Data Processing & Outsourced Services
Debt Investments
$281.0K
$269.0K
$12.0K
10.69%+6.50%
Wamp;A Intermediate Co., LLC
Health Care Services
First Lien Secured Revolving Loan
$253.0K
$253.0K
$0.00
10.55%+6.25%
Salon Republic Investments LLC
Specialized Consumer Services
Preferred Stock
$247.0K
$200.0K
$47.0K
Bridgepoint Healthcare, LLC
Health Care Facilities
First Lien Secured Revolving Loan
$238.0K
$237.0K
$1.0K
12.42%+8.00%
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Revolving Loan
$232.0K
$224.0K
$8.0K
11.67%+7.25%
Quest Events, LLC
Diversified Support Services
First Lien Secured Revolving Loan
$175.0K
$173.0K
$2.0K
+6.25%
Pavement Partners Interco, LLC
Construction & Engineering
First Lien Secured Term Loan
$162.0K
$161.0K
$1.0K
9.95%+5.50%
Naviga Inc
Application Software
First Lien Secured Revolving Loan
$161.0K
$301.0K
-$140.0K
12.78%+6.84%
Quest Events, LLC
Diversified Support Services
Common Units
$154.0K
$376.0K
-$222.0K
Leviathan Intermediate Holdco, LLC
Leisure Products
First Lien Secured Revolving Loan
$149.0K
$150.0K
-$1.0K
10.32%+6.00%
Education Dynamics, LLC
Education Services
Senior Preferred Units
$127.0K
$167.0K
-$40.0K
Snap Fitness Holdings, Inc
Leisure Facilities
Warrants
$114.0K
$793.0K
-$679.0K
Camp Facility Services Parent, LLC
Real Estate Services
Preferred Units
$92.0K
$840.0K
-$748.0K
PANOS Brands, LLC
Packaged Foods & Meats
First Lien Secured Revolving Loan #One
$87.0K
$81.0K
$6.0K
10.79%+5.42%
Salon Republic Investments LLC
Specialized Consumer Services
Common Stock
$62.0K
$400.0K
-$338.0K
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan Four
$53.0K
$2.26M
-$2.21M
11.44%+7.00%
Zephyr Buyer, L.P. (d/b/a The Weather Company, LLC)
Interactive Media & Services
First Lien Secured Revolving Loan
$36.0K
10.80%+6.50%
Pavement Partners Interco, LLC
Construction & Engineering
First Lien Secured Delayed Draw Loan
$22.0K
$21.0K
$1.0K
9.95%+5.50%
W Electric Intermediate Holdings, LLC (d/b/a Westinghouse Electric Corporation)
Industrial Machinery & Supplies & Components
First Lien Secured Revolving Loan
$15.0K
10.82%+6.50%
Ribbon Communications Operating Company, Inc. (d/b/a Ribbon Communications Inc.)
Systems Software
First Lien Secured Revolving Loan
$14.0K
10.57%+6.25%
ImageOne Industries, LLC
Advertising
Common A Units
$12.0K
$10.0K
$2.0K
Salon Republic Holdings, LLC
Specialized Consumer Services
First Lien Secured Revolving Loan
$11.0K
12.42%+8.00%
Pavement Partners Interco, LLC
Construction & Engineering
First Lien Secured Revolving Loan
$7.0K
$7.0K
$0.00
9.95%+5.50%
Mamp;M OpCo. LLC (d/b/a Escalent, Inc.)
Research & Consulting Services
First Lien Secured Revolving Loan
$5.0K
12.40%+8.00%
Sleep OpCo LLC
Home Furnishings
First Lien Secured Revolving Loan
$2.0K
10.95%+6.50%
Coastal Television Broadcasting Group LLC
Broadcasting
First Lien Secured Revolving Loan
$1.0K
10.92%+6.50%
LogicMonitor
Systems Software
Inc.- First Lien Secured Revolving Loan
$1.0K
9.79%+5.50%
American Crafts
Leisure Products
LC Super Senior Priority First Lien Secured Term Loan one
$0.00
$1.23M
-$1.23M
+8.50%
American Crafts
Leisure Products
LC Priority First Lien Secured Term Loan
$0.00
$5.11M
-$5.11M
+8.50%
American Crafts
Leisure Products
LC First Lien Secured Term Loan
$0.00
$8.72M
-$8.72M
+8.50%
American Crafts
Leisure Products
LC First Lien Secured Delayed Draw Loan
$0.00
$1.46M
-$1.46M
+8.50%
American Crafts Lc Super Priority First Lien Secured Term Loan
Leisure Products
Debt Investments
$0.00
$2.09M
-$2.09M
+8.50%
Eddy Acquisitions, LLC
Education Services
Preferred Units
$0.00
$167.0K
-$167.0K
Max Solutions Inc.
Paper & Plastic Packaging Products & Materials
Common Stock
$0.00
$400.0K
-$400.0K
Motivational CIV, LLC
Air Freight & Logistics
Class B Units
$0.00
$1.25M
-$1.25M
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
Kelso Industries LLC
Construction & Engineering
First Lien Secured Delayed Draw Loan
-$11.0K
10.07%+5.75%
Wamp;A Intermediate Co., LLC
Health Care Services
First Lien Secured Delayed Draw Loan
-$11.0K
10.55%+6.25%
EducationDynamics, LLC
Education Services
First Lien Secured Revolving Loan
-$46.0K
10.93%+6.50%
Arcserve Cayman GP LLC (d/b/a Arcserve (USA), LLC)
Systems Software
Common Units #One
New American Crafts Holdings, LLC
Leisure Products
Class A Units
TOT Group, Inc. (d/b/a Netevia Group LLC)
Transaction & Payment Processing Services
First Lien Secured Revolving Loan
11.55%+7.25%
Disclosed holdings FV
$651.00M
Parsed holdings FV
$651.00M
Residual gap
$0.00
Balance-sheet cash
$11.44M
CIK
0001552198
Accession
0001558370-25-007430
Form type
10-Q
Period
2025-03-31