BDC·info
WHF

WhiteHorse Finance

Period
SEC EDGAR ↗
Portfolio Fair Value
$697.87M
135 holdings
Avg Spread
+7.33%
FV-weighted, debt
Avg Coupon
12.68%
FV-weighted
% First Lien
79.9%
of debt FV
Unrealized P/L
-$43.02M
-5.81% of cost
Non-Accrual
0
text-detected

Balance sheet

Assets$735.05M
Liabilities + Equity$735.05M
First Lien
$557.53M · 75.8%
Subordinated
$84.56M · 11.5%
Debt (Borrowings)
$390.33M · 53.1%
Net Assets (Equity)
$313.79M · 42.7%

Industry Composition

Specialized Finance
15.3%
Broadline Retail
5.2%
Application Software
4.8%
Commodity Chemicals
4.4%
Home Furnishings
4.0%
Air Freight & Logistics
4.0%
Environmental & Facilities Services
3.7%
Specialized Consumer Services
3.4%
Interactive Media & Services
3.3%
Leisure Facilities
3.2%
Office Services & Supplies
3.2%
Data Processing & Outsourced Services
3.1%
Other industries
42.3%

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

4.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
9.5%
10.0%
12.0%
14.0%
Schedule of Investments

All holdings

All holdings
Sortable, click headers to re-sort
135 of 135
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
11.82%+6.50%
—
WHF STRS Ohio Senior Loan Fund LLC
Specialized Finance
Interests
$22.61M
$21.10M
$1.50M
——
—
Future Payment Technologies, LP
Data Processing & Outsourced Services
First Lien Secured Term Loan
$21.35M
$21.28M
$72.0K
13.68%+8.25%
—
Sleep OpCo LLC
Home Furnishings
First Lien Secured Term Loan
$20.56M
$20.35M
$210.0K
11.98%+6.50%
—
Bulk Midco, LLC
Cable & Satellite
First Lien Secured Term Loan
$19.20M
$19.26M
-$60.0K
12.93%+7.50%
—
ABB/Con-cise Optical Group LLC
Health Care Supplies
First Lien Secured Term Loan
$18.43M
$20.08M
-$1.65M
12.96%+7.50%
—
Telestream Holdings Corporation
Technology Hardware, Storage & Peripherals
First Lien Secured Term Loan
$16.83M
$16.93M
-$101.0K
15.18%+9.75%
—
FGI Acquisition Corp. (d/b/a Flexitallic Group SAS)
Commodity Chemicals
First Lien Secured Term Loan
$16.15M
$15.78M
$371.0K
11.96%+6.50%
—
CleanChoice Energy, Inc
Electric Utilities
First Lien Secured Term Loan
$15.96M
$15.74M
$218.0K
13.06%+7.59%
—
Trimlite Buyer LLC
Building Products
First Lien Secured Term Loan
$14.47M
$15.48M
-$1.01M
11.80%+6.50%
—
Zephyr Buyer, L.P. (d/b/a The Weather Company, LLC)
Interactive Media & Services
First Lien Secured Term Loan
$13.91M
$13.85M
$66.0K
12.06%+6.75%
—
Potpourri Group, Inc
Broadline Retail
First Lien Secured Term Loan
$13.70M
$13.69M
$13.0K
13.68%+8.25%
—
Patagonia Hold co Llc
Alternative Carriers
First Lien Secured Term Loans
$13.40M
$12.42M
$983.0K
11.06%+5.75%
—
Leviathan Intermediate Holdco, LLC
Leisure Products
First Lien Secured Term Loan
$13.31M
$13.02M
$290.0K
12.96%+7.50%
—
BBQ Buyer, LLC
Broadline Retail
First Lien Secured Term Loan
$12.89M
$12.80M
$88.0K
14.93%+9.50%
—
EducationDynamics, LLC
Education Services
First Lien Secured Term Loan
$12.18M
$12.59M
-$414.0K
12.43%+7.00%
—
Team Car Care Holdings
Automotive Retail
First Lien Secured Term Loan
$12.18M
$12.16M
$11.0K
13.01%+7.48%
—
Branford Filtration, LLC (d/b/a Clean Solutions Group)
Environmental & Facilities Services
First Lien Secured Term Loan
$11.64M
$11.34M
$299.0K
11.96%+6.50%
—
Camp Facility Services Holdings, LLC
Specialized Consumer Services
First Lien Secured Term Loan
$11.60M
$11.49M
$108.0K
11.93%+6.50%
—
Industrial Specialty Services USA LLC
Environmental & Facilities Services
First Lien Secured Term Loan
$11.50M
$11.61M
-$104.0K
12.21%+6.75%
—
HC Salon Holdings, Inc
Specialized Consumer Services
First Lien Secured Term Loan
$11.38M
$11.26M
$114.0K
12.07%+6.50%
—
The Kyjen Company, LLC
Household Products
First Lien Secured Term Loan
$10.91M
$11.29M
-$382.0K
12.96%+7.50%
—
Empire Office, Inc
Office Services & Supplies
First Lien Secured Term Loan
$10.73M
$10.73M
$2.0K
12.18%+6.75%
—
UserZoom Technologies, Inc.
Application Software
First Lien Secured Term Loan
$9.82M
$9.58M
$237.0K
12.99%+7.50%
—
Arcserve Cayman Topco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Common Units #Two
$9.63M
$19.57M
-$9.94M
——
—
US Methanol Midco LLC (d/b/a US Methanol LLC)
Commodity Chemicals
First Lien Secured Delayed Draw Loan
$9.42M
$9.24M
$180.0K
—+8.25%
—
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Term Loan
$9.39M
$9.27M
$125.0K
12.68%+7.25%
—
NNA Services, LLC
Diversified Support Services
First Lien Secured Term Loan
$9.34M
$9.29M
$53.0K
12.21%+6.75%
—
MBS Highway, LLC
Application Software
First Lien Secured Term Loan
$9.26M
$9.19M
$70.0K
13.18%+7.50%
—
Monarch Collective Holdings, LLC
Real Estate Development
First Lien Secured Term Loan
$9.19M
$9.15M
$41.0K
12.06%+6.75%
—
Honors Holdings, LLC
Leisure Facilities
First Lien Secured Term Loan
$9.12M
$9.39M
-$276.0K
13.44%+7.96%
—
Motivational Marketing, LLC
Air Freight & Logistics
First Lien Secured Term Loan
$9.01M
$9.92M
-$914.0K
12.68%+7.25%
—
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.)
Air Freight & Logistics
First Lien Secured Term Loan
$8.88M
$8.84M
$36.0K
12.43%+7.00%
—
Transervice Holdings, Inc. (d/b/a Transervice Logistics, Inc.)
Air Freight & Logistics
First Lien Secured Term Loan
$8.83M
$8.61M
$225.0K
12.93%+7.50%
—
Bridgepoint Healthcare, LLC
Health Care Facilities
First Lien Secured Term Loan
$8.81M
$8.84M
-$29.0K
13.43%+8.00%
—
Power Service Group CR Acquisition Inc
Heavy Electrical Equipment
First Lien Secured Term Loan
$8.77M
$8.69M
$83.0K
12.21%+6.75%
—
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan Three
$8.38M
$9.42M
-$1.03M
12.44%+7.00%
—
PLTFRM Companies, LLC
Advertising
First Lien Secured Term Loan
$7.79M
$7.72M
$70.0K
14.33%+9.00%
—
Manchester Acquisition Sub LLC
Diversified Chemicals
First Lien Secured Term Loan
$7.23M
$7.51M
-$286.0K
11.24%+5.75%
—
Coastal Television Broadcasting Group LLC
Broadcasting
First Lien Secured Term Loan
$7.20M
$7.26M
-$57.0K
12.43%+7.00%
—
Event Services America, Inc. (d/b/a Contemporary Services Corporation)
Security & Alarm Services
First Lien Secured Term Loan
$6.86M
$6.83M
$26.0K
12.58%+7.25%
—
MSI Information Services, Inc
Interactive Media & Services
First Lien Secured Term Loan
$6.75M
$7.26M
-$508.0K
13.24%+7.75%
—
Claridge Products and Equipment, LLC
Construction Materials
First Lien Secured Term Loan
$5.72M
$6.46M
-$736.0K
15.68%+10.25%
—
Lift Brands, Inc
Leisure Facilities
First Lien Secured Term Loan A
$5.50M
$5.48M
$22.0K
12.93%+7.50%
—
Lab Logistics, LLC
Health Care Services
First Lien Secured Term Loan
$5.42M
$5.42M
$4.0K
12.68%+7.25%
—
Token Buyer, Inc
Household Appliances
First Lien Secured Term Loan
$5.42M
$6.70M
-$1.28M
11.46%+6.00%
—
Luxury Brand Holdings, Inc
Broadline Retail
First Lien Secured Term Loan
$5.28M
$5.24M
$42.0K
11.93%+6.50%
—
US Methanol Midco LLC (d/b/a US Methanol LLC)
Commodity Chemicals
First Lien Secured Term Loan
$5.14M
$5.06M
$85.0K
—+8.25%
—
Salon Republic Holdings, LLC
Real Estate Operating Companies
First Lien Secured Term Loan
$5.11M
$5.00M
$112.0K
12.93%+7.50%
—
Lab Logistics, LLC
Health Care Services
First Lien Secured Delayed Draw Loan
$5.06M
$5.06M
$1.0K
12.68%+7.25%
—
LSCS Holdings, Inc
Life Sciences Tools & Services
Second Lien Secured Term Loan
$4.95M
$4.95M
$2.0K
13.44%+8.00%
—
M&M OpCo. LLC (d/b/a Escalent, Inc.)
Advertising
First Lien Secured Term Loan
$4.57M
$4.60M
-$32.0K
13.40%+8.00%
—
Empire Office, Inc
Office Services & Supplies
First Lien Secured Delayed Draw Loan
$4.50M
$4.49M
$1.0K
12.18%+6.75%
—
Honors Holdings, LLC
Leisure Facilities
First Lien Secured Delayed Draw Loan
$4.49M
$4.64M
-$149.0K
13.34%+7.86%
—
Hollander Intermediate LLC
Home Furnishings
First Lien Secured Term Loan
$4.22M
$4.69M
-$476.0K
14.19%+8.75%
—
ATSG Inc
IT Consulting & Other Services
First Lien Secured Term Loan
$3.76M
$3.73M
$24.0K
11.98%+6.50%
—
American Crafts
Office Services & Supplies
LC Priority First Lien Secured Term Loan
$3.28M
$5.11M
-$1.83M
—+8.50%
—
Whitestone Home Furnishings, LLC (d/b/a Saatva, Inc.)
Home Furnishings
First Lien Secured Term Loan
$2.92M
$2.91M
$14.0K
11.93%+6.50%
—
Chase Products Co. (f/k/a Starco) First Lien Secured Term Loan 12.00 PIK
—
—
$2.80M
$3.05M
-$254.0K
—+12.00%
—
BBQ Buyer, LLC
Broadline Retail
First Lien Secured Delayed Draw Loan
$2.63M
$2.61M
$19.0K
14.93%+9.50%
—
Naviga Inc
Application Software
First Lien Secured Term Loan
$2.49M
$3.14M
-$654.0K
12.40%+7.00%
—
American Crafts Lc Super Priority First Lien Secured Term Loan
Office Services & Supplies
Debt Investments
$1.94M
$1.97M
-$29.0K
—+8.50%
—
What If Media Group, LLC
Interactive Media & Services
Common Units
$1.84M
$851.0K
$991.0K
——
—
Bulk Midco, LLC
Cable & Satellite
First Lien Secured Revolving Loan
$1.80M
$1.81M
-$3.0K
12.94%+7.49%
—
RLJ Pro-Vac, Inc.
Environmental & Facilities Services
First Lien Secured Term Loan First Lien Secured Revolving Loan
$1.79M
$1.79M
$0.00
11.70%+6.25%
—
Snap Fitness Holdings, Inc
Leisure Facilities
First Lien Secured Term Loan C
$1.70M
$1.69M
$3.0K
—+9.50%
—
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan
$1.64M
$1.49M
$152.0K
12.94%—
—
Lift Brands, Inc
Leisure Facilities
First Lien Secured Term Loan B
$1.48M
$1.48M
$7.0K
—+9.50%
—
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Bridge Loan
$1.47M
$1.45M
$16.0K
19.43%+14.00%
—
CX Holdco LLC
IT Consulting & Other Services
Common Units
$1.39M
$1.12M
$278.0K
——
—
Power Service Group CR Acquisition Inc
Heavy Electrical Equipment
First Lien Delayed Draw Loan
$1.35M
$1.33M
$18.0K
12.21%+6.75%
—
BL Products Parent, LP
Industrial Machinery & Supplies & Components
Class A Units
$1.33M
$788.0K
$540.0K
——
—
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
First Lien Secured Delayed Draw Loan
$1.25M
$606.0K
$648.0K
13.44%+8.00%
—
BBQ Buyer, LLC
Broadline Retail
Shares
$1.25M
$1.10M
$150.0K
——
—
American Crafts
Office Services & Supplies
LC Super Senior Priority First Lien Secured Term Loan
$1.16M
$1.16M
$0.00
—+8.50%
—
Motivational Marketing, LLC
Air Freight & Logistics
First Lien Secured Revolving Loan
$1.06M
$1.17M
-$108.0K
12.68%+7.25%
—
PFB Holdco, Inc
Building Products
Class A Units
$1.06M
$423.0K
$637.0K
——
—
Camp Facility Services Parent, LLC
Specialized Consumer Services
Preferred Units
$1.05M
$840.0K
$210.0K
—+10.00%
—
Playmonster Group LLC
Leisure Products
Priority First Lien Secured Term Loan
$1.02M
$1.16M
-$133.0K
—+6.75%
—
MGT Merger Target, LLC (d/b/a MGT Consulting Group)
IT Consulting & Other Services
First Lien Secured Term Loan
$1.01M
$1.01M
$0.00
11.18%+5.75%
—
Playmonster Group LLC
Leisure Products
First Lien Secured Term Loan
$986.0K
$3.66M
-$2.67M
—+9.00%
—
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan Two
$970.0K
$993.0K
-$23.0K
12.94%+7.50%
—
BPII-JL Group Holdings LP
Environmental & Facilities Services
Class A Units
$928.0K
$942.0K
-$14.0K
——
—
Salon Republic Holdings, LLC
Real Estate Operating Companies
First Lien Secured Delayed Draw Loan
$922.0K
$888.0K
$34.0K
12.93%+7.50%
—
Telestream Holdings Corporation
Technology Hardware, Storage & Peripherals
First Lien Secured Revolving Loan
$779.0K
$786.0K
-$7.0K
15.18%—
—
MSI Information Services, Inc
Interactive Media & Services
First Lien Secured Revolving Loan
$744.0K
$816.0K
-$72.0K
15.06%+6.84%
—
Monarch Collective Holdings, LLC
Real Estate Development
First Lien Secured Delayed Draw Loan
$722.0K
$720.0K
$2.0K
12.09%+6.75%
—
Keras Holdings, LLC
IT Consulting & Other Services
Shares
$721.0K
$496.0K
$225.0K
——
—
PLTFRM Companies, LLC
Advertising
First Lien Secured Revolving Loan
$612.0K
$605.0K
$7.0K
14.32%+9.00%
—
Ross-Simons Topco, LP
Broadline Retail
Preferred Units
$607.0K
$514.0K
$93.0K
—+8.00%
—
Avision Holdings, LLC
Advertising
Class A LLC Interests
$563.0K
$287.0K
$276.0K
——
—
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Unsecured Loan #Two
$555.0K
$542.0K
$13.0K
—+9.00%
—
Claridge Products and Equipment, LLC
Construction Materials
First Lien Secured Revolving Loan
$548.0K
$628.0K
-$80.0K
16.61%+9.81%
—
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Unsecured Loan #One
$542.0K
$529.0K
$13.0K
9.00%+9.00%
—
Vistria Blocked MGT Investor, LP (d/b/a MGT Consulting Group)
IT Consulting & Other Services
Series A Units
$479.0K
$314.0K
$165.0K
——
—
American Crafts
Office Services & Supplies
LC First Lien Secured Term Loan
$433.0K
$8.72M
-$8.29M
—+8.50%
—
Alvaria Holdco (Cayman) (d/b/a Aspect Software
Application Software
Inc.) First Lien Secured Term Loan Four
$428.0K
$2.35M
-$1.93M
12.44%—
—
Sterling Pure Blocker, LLC (d/b/a Banner Industries, Inc.)
Construction & Engineering
Class B Units
$404.0K
$404.0K
$0.00
——
—
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Revolving Loan
$342.0K
$335.0K
$7.0K
12.68%+7.25%
—
Sleep OpCo LLC
Home Furnishings
First Lien Secured Revolving Loan
$326.0K
$299.0K
$27.0K
11.92%+6.50%
—
Merriman Holdings LP (d/b/a Escalent, Inc.)
Advertising
Class A Units
$264.0K
$333.0K
-$69.0K
——
—
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Delayed Draw Loan
$239.0K
$231.0K
$8.0K
12.68%+7.25%
—
Naviga Inc
Application Software
First Lien Secured Revolving Loan
$238.0K
$301.0K
-$63.0K
12.78%+6.84%
—
Bridgepoint Healthcare, LLC
Health Care Facilities
First Lien Secured Revolving Loan
$231.0K
$236.0K
-$5.0K
13.43%+8.00%
—
Foodservices Brand Group, LLC
Distributors
First Lien Secured Term Loan
$228.0K
$357.0K
-$129.0K
13.48%+8.00%
—
Salon Republic Holdings, LLC
Real Estate Operating Companies
Preferred Stock
$218.0K
$200.0K
$18.0K
—+8.00%
—
Salon Republic Holdings, LLC
Real Estate Operating Companies
Common Stock
$208.0K
$400.0K
-$192.0K
——
—
Snap Fitness Holdings, Inc
Leisure Facilities
Class A Common Stock
$167.0K
$1.94M
-$1.77M
——
—
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.)
Air Freight & Logistics
First Lien Secured Revolving Loan
$160.0K
$158.0K
$2.0K
12.43%+7.00%
—
Quest Events, LLC
Diversified Support Services
Preferred Units
$149.0K
$360.0K
-$211.0K
——
—
EducationDynamics, LLC
Education Services
Subordinated Unsecured Term Loan
$142.0K
$167.0K
-$25.0K
4.00%+4.00%
—
American Crafts
Office Services & Supplies
LC First Lien Secured Delayed Draw Loan
$73.0K
$1.46M
-$1.39M
—+8.50%
—
Snap Fitness Holdings, Inc
Leisure Facilities
Warrants
$68.0K
$793.0K
-$725.0K
——
—
Max Solutions Inc.
Paper & Plastic Packaging Products & Materials
Common Stock
$40.0K
$400.0K
-$360.0K
——
—
Salon Republic Holdings, LLC
Real Estate Operating Companies
First Lien Secured Revolving Loan
$19.0K
—
—
12.93%+7.50%
—
Eddy Acquisitions, LLC
Education Services
Preferred Units
$15.0K
$167.0K
-$152.0K
12.00%+12.00%
—
Leviathan Intermediate Holdco, LLC
Leisure Products
First Lien Secured Revolving Loan
$13.0K
—
—
12.96%+7.50%
—
Branford Filtration, LLC (d/b/a Clean Solutions Group)
Environmental & Facilities Services
First Lien Secured Revolving Loan
$10.0K
—
—
11.96%+6.50%
—
ImageOne Industries, LLC
Diversified Support Services
Common A Units
$8.0K
$7.0K
$1.0K
——
—
Zephyr Buyer, L.P. (d/b/a The Weather Company, LLC)
Interactive Media & Services
First Lien Secured Revolving Loan
$8.0K
—
—
12.06%+6.75%
—
HC Salon Holdings, Inc
Specialized Consumer Services
First Lien Secured Revolving Loan
$7.0K
—
—
12.07%+6.50%
—
Motivational CIV, LLC
Air Freight & Logistics
Class B Units
$0.00
$1.25M
-$1.25M
——
—
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
—+14.00%
—
Pressurized Holdings, LLC
Diversified Chemicals
Preferred Units
$0.00
$4.54M
-$4.54M
—+14.00%
—
Sigue Corporation
Diversified Financial Services
Warrants
$0.00
$2.89M
-$2.89M
——
—
Coastal Television Broadcasting Group LLC
Broadcasting
First Lien Secured Revolving Loan
-$2.0K
—
—
12.43%+7.00%
—
M&M OpCo. LLC (d/b/a Escalent, Inc.)
Advertising
First Lien Secured Revolving Loan
-$2.0K
—
—
13.40%+8.00%
—
The Kyjen Company, LLC
Household Products
First Lien Secured Revolving Loan
-$32.0K
—
—
12.96%+7.50%
—
EducationDynamics, LLC
Education Services
First Lien Secured Revolving Loan
-$39.0K
—
—
12.43%+7.00%
—
Arcserve Cayman GP LLC (d/b/a Arcserve (USA), LLC)
Systems Software
Common Units #One
—
—
—
——
—
Atlas Purchaser, Inc
—
First Lien Secured Term Loan
—
—
—
—+7.50%
—
Atlas Purchaser, Inc
—
Second Lien Secured Term Loan
—
—
—
—+7.00%
—
MGT Merger Target, LLC (d/b/a MGT Consulting Group)
IT Consulting & Other Services
First Lien Secured Revolving Loan
—
—
—
11.18%+5.75%
—
New American Crafts Holdings, LLC
Office Services & Supplies
Class A Units
—
—
—
——
—
Disclosed holdings FV
$697.87M
Parsed holdings FV
$697.87M
Residual gap
$0.00
Balance-sheet cash
$10.72M
CIK
0001552198
Accession
0001558370-24-007193
Form type
10-Q
Period
2024-03-31