WHF
WhiteHorse Finance
Portfolio Fair Value
$706.79M
121 holdings
Avg Spread
+7.30%
FV-weighted, debt
Avg Coupon
12.68%
FV-weighted
% First Lien
79.9%
of debt FV
Unrealized P/L
-$37.02M
-4.98% of cost
Non-Accrual
0
text-detected
Balance sheet
Assets$746.55M
Liabilities + Equity$746.55M
First Lien
$564.84M · 75.7%
First Lien
$564.84M · 75.7%
Second Lien
$16.30M · 2.2%
Subordinated
$84.58M · 11.3%
Subordinated
$84.58M · 11.3%
Equity
$4.65M · 0.6%
Other
$36.42M · 4.9%
Cash & Equivalents
$10.63M · 1.4%
Other Assets
$29.13M · 3.9%
Debt (Borrowings)
$398.15M · 53.3%
Debt (Borrowings)
$398.15M · 53.3%
Other Liabilities
$26.11M · 3.5%
Net Assets (Equity)
$322.30M · 43.2%
Net Assets (Equity)
$322.30M · 43.2%
Industry Composition
Specialized Finance
15.1%
Broadline Retail
5.2%
Application Software
5.0%
Commodity Chemicals
4.3%
Office Services & Supplies
4.1%
Home Furnishings
3.5%
Air Freight & Logistics
3.4%
Specialized Consumer Services
3.4%
Leisure Facilities
3.2%
Data Processing & Outsourced Services
3.1%
Research & Consulting Services
3.0%
Cable & Satellite
2.9%
Other industries
43.8%
Spread Distribution
4.0%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
9.5%
10.0%
10.5%
12.0%
14.0%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
121 of 121
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
WHF STRS Ohio Senior Loan Fund LLC | Specialized Finance | Subordinated Note | $84.42M | $84.42M | $0.00 | 11.83% | +6.50% | — |
WHF STRS Ohio Senior Loan Fund LLC | Specialized Finance | Interests | $22.34M | $21.10M | $1.24M | — | — | — |
Future Payment Technologies, LP | Data Processing & Outsourced Services | First Lien Secured Term Loan | $21.79M | $21.88M | -$94.0K | 13.68% | +8.25% | — |
Sleep OpCo LLC | Home Furnishings | First Lien Secured Term Loan | $20.25M | $20.42M | -$165.0K | 11.95% | +6.50% | — |
ABB/Con-cise Optical Group LLC | Health Care Supplies | First Lien Secured Term Loan | $18.98M | $20.04M | -$1.05M | 13.05% | +7.50% | — |
Bulk Midco, LLC | Cable & Satellite | First Lien Secured Term Loan | $18.82M | $19.21M | -$391.0K | 12.92% | +7.50% | — |
FGI Acquisition Corp. (d/b/a Flexitallic Group SAS) | Commodity Chemicals | First Lien Secured Term Loan | $16.16M | $15.79M | $374.0K | 12.04% | +6.50% | — |
Telestream Holdings Corporation | Technology Hardware, Storage & Peripherals | First Lien Secured Term Loan | $15.73M | $15.59M | $139.0K | 14.76% | +9.25% | — |
CleanChoice Energy, Inc | Electric Utilities | First Lien Secured Term Loan | $15.66M | $15.69M | -$35.0K | 13.05% | +7.58% | — |
Trimlite Buyer LLC | Building Products | First Lien Secured Term Loan | $14.39M | $15.46M | -$1.07M | 12.01% | +6.50% | — |
Potpourri Group, Inc | Broadline Retail | First Lien Secured Term Loan | $13.90M | $13.85M | $47.0K | 13.68% | +8.25% | — |
Power Service Group CR Acquisition Inc | Heavy Electrical Equipment | First Lien Secured Term Loan | $13.33M | $13.31M | $25.0K | 11.79% | +6.25% | — |
Patagonia Hold co Llc | Alternative Carriers | First Lien Secured Term Loans | $12.80M | $12.29M | $505.0K | 11.12% | +5.75% | — |
BBQ Buyer, LLC | Broadline Retail | First Lien Secured Term Loan | $12.78M | $12.75M | $31.0K | 15.92% | +10.50% | — |
ALM Media, LLC | Research & Consulting Services | First Lien Secured Term Loan | $12.71M | $12.74M | -$26.0K | 11.54% | +6.00% | — |
Team Car Care Holdings | Automotive Retail | First Lien Secured Term Loan | $12.64M | $12.62M | $23.0K | 12.99% | +7.48% | — |
EducationDynamics, LLC | Education Services | First Lien Secured Term Loan | $12.31M | $12.70M | -$390.0K | 12.42% | +7.00% | — |
Industrial Specialty Services USA LLC | Environmental & Facilities Services | First Lien Secured Term Loan | $11.56M | $11.64M | -$80.0K | 12.29% | +6.75% | — |
Camp Facility Services Holdings, LLC | Specialized Consumer Services | First Lien Secured Term Loan | $11.46M | $11.54M | -$74.0K | 11.92% | +6.50% | — |
HC Salon Holdings, Inc | Specialized Consumer Services | First Lien Secured Term Loan | $11.43M | $11.30M | $137.0K | 12.15% | +6.50% | — |
Empire Office, Inc | Office Services & Supplies | First Lien Secured Term Loan | $11.16M | $11.13M | $31.0K | 12.18% | +6.75% | — |
Arcstor Midco, LLC | Systems Software | First Lien Secured Term Loan | $10.83M | $19.57M | -$8.74M | 13.17% | +7.75% | — |
The Kyjen Company, LLC | Household Products | First Lien Secured Term Loan | $10.70M | $11.27M | -$574.0K | 13.21% | +7.50% | — |
Atlas Purchaser, Inc | Application Software | Second Lien Secured Term Loan | $10.50M | $14.69M | -$4.18M | 14.66% | +9.00% | — |
Leviathan Intermediate Holdco, LLC | Leisure Products | First Lien Secured Term Loan | $10.27M | $10.11M | $163.0K | 13.04% | +7.50% | — |
JZ Capital Partners Ltd | Asset Management & Custody Banks | First Lien Secured Term Loan | $10.22M | $10.15M | $70.0K | 12.50% | +7.00% | — |
Motivational Marketing, LLC | Air Freight & Logistics | First Lien Secured Term Loan | $9.76M | $10.96M | -$1.20M | 11.92% | +6.50% | — |
UserZoom Technologies, Inc. | Application Software | First Lien Secured Term Loan | $9.72M | $9.56M | $163.0K | 12.42% | +7.50% | — |
NNA Services, LLC | Diversified Support Services | First Lien Secured Term Loan | $9.35M | $9.42M | -$70.0K | 12.29% | +6.75% | — |
Honors Holdings, LLC | Leisure Facilities | First Lien Secured Term Loan | $9.34M | $9.37M | -$24.0K | 12.07% | +6.53% | — |
US Methanol Midco LLC (d/b/a US Methanol LLC) | Commodity Chemicals | First Lien Secured Delayed Draw Loan | $9.24M | $9.12M | $116.0K | — | +7.75% | — |
MBS Highway, LLC | Application Software | First Lien Secured Term Loan | $9.18M | $9.21M | -$35.0K | 12.72% | +7.50% | — |
JVMC Holdings Corp | Investment Banking & Brokerage | First Lien Secured Term Loan | $9.11M | $9.10M | $7.0K | 11.92% | +6.50% | — |
Bridgepoint Healthcare, LLC | Health Care Facilities | First Lien Secured Term Loan | $9.05M | $9.10M | -$52.0K | 13.17% | +7.75% | — |
Aeyon LLC | Research & Consulting Services | First Lien Secured Term Loan | $8.84M | $8.72M | $119.0K | 14.20% | +8.88% | — |
Transervice Holdings, Inc. (d/b/a Transervice Logistics, Inc.) | Air Freight & Logistics | First Lien Secured Term Loan | $8.76M | $8.69M | $73.0K | 12.92% | +7.50% | — |
Coastal Television Broadcasting Group LLC | Broadcasting | First Lien Secured Term Loan | $7.37M | $7.40M | -$32.0K | 12.52% | +7.00% | — |
Manchester Acquisition Sub LLC | Diversified Chemicals | First Lien Secured Term Loan | $7.23M | $7.58M | -$354.0K | 11.31% | +5.75% | — |
MSI Information Services, Inc | Interactive Media & Services | First Lien Secured Term Loan | $7.07M | $7.34M | -$271.0K | 13.17% | +7.75% | — |
Claridge Products and Equipment, LLC | Construction Materials | First Lien Secured Term Loan | $6.88M | $7.38M | -$500.0K | 13.54% | +8.00% | — |
Project Castle, Inc | Industrial Machinery & Supplies & Components | First Lien Secured Term Loan | $6.48M | $6.74M | -$253.0K | 10.76% | +5.50% | — |
American Crafts | Office Services & Supplies | LC Priority First Lien Secured Term Loan | $6.40M | $6.66M | -$265.0K | — | +8.50% | — |
PG Dental New Jersey Parent, LLC | Health Care Services | First Lien Secured Term Loan | $6.33M | $6.27M | $59.0K | 15.43% | +10.00% | — |
Token Buyer, Inc | Household Appliances | First Lien Secured Term Loan | $6.12M | $6.69M | -$575.0K | 11.52% | +6.00% | — |
American Crafts | Office Services & Supplies | LC First Lien Secured Term Loan | $5.56M | $8.72M | -$3.16M | — | +8.50% | — |
StoicLane MidCo, LLC | Real Estate Development | First Lien Secured Delayed Draw Loan | $5.54M | $5.47M | $65.0K | 13.04% | +7.50% | — |
Lift Brands, Inc | Leisure Facilities | First Lien Secured Term Loan A | $5.47M | $5.50M | -$31.0K | 12.92% | +7.50% | — |
Lab Logistics, LLC | Health Care Services | First Lien Secured Term Loan | $5.45M | $5.44M | $9.0K | 12.67% | +7.25% | — |
Luxury Brand Holdings, Inc | Broadline Retail | First Lien Secured Term Loan | $5.28M | $5.23M | $51.0K | 11.92% | +6.50% | — |
Lab Logistics, LLC | Health Care Services | First Lien Secured Delayed Draw Loan | $5.09M | $5.09M | $1.0K | 12.67% | +7.25% | — |
US Methanol Midco LLC (d/b/a US Methanol LLC) | Commodity Chemicals | First Lien Secured Term Loan | $5.09M | $5.04M | $46.0K | — | +7.75% | — |
Salon Republic Holdings, LLC | Real Estate Operating Companies | First Lien Secured Term Loan | $5.08M | $5.00M | $78.0K | 12.92% | +7.50% | — |
LSCS Holdings, Inc | Life Sciences Tools & Services | Second Lien Secured Term Loan | $4.81M | $4.94M | -$130.0K | 13.43% | +8.00% | — |
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.) | Air Freight & Logistics | First Lien Secured Term Loan | $4.77M | $4.69M | $78.0K | 12.42% | +7.00% | — |
Empire Office, Inc | Office Services & Supplies | First Lien Secured Delayed Draw Loan | $4.62M | $4.60M | $22.0K | 12.18% | +6.75% | — |
M&M OpCo. LLC (d/b/a Escalent, Inc.) | Advertising | First Lien Secured Term Loan | $4.60M | $4.61M | -$3.0K | 13.49% | +8.00% | — |
Honors Holdings, LLC | Leisure Facilities | First Lien Secured Delayed Draw Loan | $4.60M | $4.63M | -$27.0K | 11.98% | +6.43% | — |
StoicLane MidCo, LLC | Real Estate Development | First Lien Secured Term Loan | $4.57M | $4.52M | $50.0K | 13.04% | +7.50% | — |
Hollander Intermediate LLC | Home Furnishings | First Lien Secured Term Loan | $4.25M | $4.74M | -$483.0K | 16.18% | +10.75% | — |
ATSG Inc | IT Consulting & Other Services | First Lien Secured Term Loan | $3.73M | $3.75M | -$23.0K | 12.02% | +6.50% | — |
Sigue Corporation | Diversified Financial Services | Warrants | $3.54M | $2.89M | $647.0K | — | — | — |
Naviga Inc | Application Software | First Lien Secured Term Loan | $3.12M | $3.15M | -$35.0K | 12.49% | +7.00% | — |
Chase Products Co. (f/k/a Starco) First Lien Secured Term Loan 12.00 PIK | — | — | $2.71M | $2.88M | -$166.0K | — | +12.00% | — |
BBQ Buyer, LLC | Broadline Retail | First Lien Secured Delayed Draw Loan | $2.61M | $2.60M | $8.0K | 15.92% | +10.50% | — |
Atlas Purchaser, Inc | Application Software | First Lien Secured Term Loan | $2.33M | $2.66M | -$324.0K | 10.88% | +5.25% | — |
Power Service Group CR Acquisition Inc | Heavy Electrical Equipment | First Lien Delayed Draw Loan | $2.05M | $2.04M | $13.0K | 11.79% | +6.25% | — |
Bulk Midco, LLC | Cable & Satellite | First Lien Secured Revolving Loan | $1.95M | $1.98M | -$29.0K | 12.92% | +7.50% | — |
Playmonster Group LLC | Leisure Products | First Lien Secured Term Loan | $1.70M | $3.66M | -$1.96M | — | +9.00% | — |
What If Media Group, LLC | Interactive Media & Services | Common Units | $1.64M | $851.0K | $785.0K | — | — | — |
Snap Fitness Holdings, Inc | Leisure Facilities | First Lien Secured Term Loan C | $1.58M | $1.61M | -$30.0K | — | +9.50% | — |
CX Holdco LLC | IT Consulting & Other Services | Common Units | $1.45M | $1.12M | $331.0K | — | — | — |
BBQ Buyer, LLC | Broadline Retail | Shares | $1.36M | $1.10M | $260.0K | — | — | — |
Lift Brands, Inc | Leisure Facilities | First Lien Secured Term Loan B | $1.33M | $1.41M | -$75.0K | — | +9.50% | — |
PFB Holdco, Inc | Building Products | Class A Units | $1.19M | $423.0K | $771.0K | — | — | — |
BPII-JL Group Holdings LP | Environmental & Facilities Services | Class A Units | $1.12M | $825.0K | $298.0K | — | — | — |
Telestream Holdings Corporation | Technology Hardware, Storage & Peripherals | First Lien Secured Revolving Loan | $1.09M | $1.08M | $12.0K | 14.67% | +9.25% | — |
Motivational Marketing, LLC | Air Freight & Logistics | First Lien Secured Revolving Loan | $1.04M | $1.17M | -$128.0K | 11.92% | +6.50% | — |
BL Products Parent, LP | Industrial Machinery & Supplies & Components | Class A Units | $1.01M | $788.0K | $224.0K | — | — | — |
Playmonster Group LLC | Leisure Products | Priority First Lien Secured Term Loan | $1.01M | $1.08M | -$74.0K | — | +6.75% | — |
Camp Facility Services Parent, LLC | Specialized Consumer Services | Preferred Units | $998.0K | $840.0K | $158.0K | — | +10.00% | — |
Foodservices Brand Group, LLC | Distributors | Second Lien Secured Term Loan | $984.0K | $4.97M | -$3.98M | 11.92% | +6.50% | — |
American Crafts | Office Services & Supplies | LC First Lien Secured Delayed Draw Loan | $934.0K | $1.46M | -$524.0K | — | +8.50% | — |
Arcstor Midco, LLC | Systems Software | First Lien Secured Delayed Draw Loan | $862.0K | $862.0K | $0.00 | 13.42% | +8.00% | — |
MSI Information Services, Inc | Interactive Media & Services | First Lien Secured Revolving Loan | $776.0K | $814.0K | -$38.0K | 15.06% | +6.84% | — |
Ross-Simons Topco, LP | Broadline Retail | Preferred Units | $775.0K | $514.0K | $261.0K | — | +8.00% | — |
PG Dental New Jersey Parent, LLC | Health Care Services | First Lien Secured Revolving Loan | $704.0K | $697.0K | $7.0K | 16.47% | +9.50% | — |
Keras Holdings, LLC | IT Consulting & Other Services | Shares | $615.0K | $496.0K | $119.0K | — | — | — |
Claridge Products and Equipment, LLC | Construction Materials | First Lien Secured Revolving Loan | $559.0K | $628.0K | -$69.0K | 14.38% | +7.56% | — |
Salon Republic Holdings, LLC | Real Estate Operating Companies | First Lien Secured Revolving Loan | $476.0K | $463.0K | $13.0K | 12.92% | +7.50% | — |
Salon Republic Holdings, LLC | Real Estate Operating Companies | First Lien Secured Delayed Draw Loan | $472.0K | $460.0K | $12.0K | 12.92% | +7.50% | — |
Merriman Holdings LP (d/b/a Escalent, Inc.) | Advertising | Class A Units | $361.0K | $333.0K | $28.0K | — | — | — |
Vistria Blocked MGT Investor, LP (d/b/a MGT Consulting Group) | IT Consulting & Other Services | Series A Units | $361.0K | $314.0K | $47.0K | — | — | — |
Avision Holdings, LLC | Advertising | Class A LLC Interests | $286.0K | $272.0K | $14.0K | — | — | — |
Foodservices Brand Group, LLC | Distributors | First Lien Secured Term Loan | $273.0K | $357.0K | -$84.0K | 13.29% | +8.00% | — |
Pressurized Holdings, LLC | Diversified Chemicals | Preferred Units | $259.0K | $4.54M | -$4.28M | — | — | — |
Salon Republic Holdings, LLC | Real Estate Operating Companies | Common Stock | $238.0K | $400.0K | -$162.0K | — | — | — |
Max Solutions Inc. | Paper & Plastic Packaging Products & Materials | Common Stock | $219.0K | $400.0K | -$181.0K | — | — | — |
Naviga Inc | Application Software | First Lien Secured Revolving Loan | $201.0K | $205.0K | -$4.0K | 12.49% | +7.00% | — |
Salon Republic Holdings, LLC | Real Estate Operating Companies | Preferred Stock | $200.0K | $200.0K | $0.00 | — | — | — |
Quest Events, LLC | Diversified Support Services | Preferred Units | $178.0K | $360.0K | -$182.0K | — | — | — |
EducationDynamics, LLC | Education Services | Subordinated Unsecured Term Loan | $167.0K | $167.0K | $0.00 | 4.00% | +4.00% | — |
Snap Fitness Holdings, Inc | Leisure Facilities | Class A Common Stock | $123.0K | $1.94M | -$1.82M | — | — | — |
Snap Fitness Holdings, Inc | Leisure Facilities | Warrants | $50.0K | $793.0K | -$743.0K | — | — | — |
JZ Capital Partners Ltd | Asset Management & Custody Banks | First Lien Secured Delayed Draw Loan | $39.0K | — | — | 12.50% | +7.00% | — |
Eddy Acquisitions, LLC | Education Services | Preferred Units | $38.0K | $167.0K | -$129.0K | 12.00% | +12.00% | — |
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.) | Air Freight & Logistics | First Lien Secured Revolving Loan | $10.0K | — | — | 12.42% | +7.00% | — |
ImageOne Industries, LLC | Diversified Support Services | Common A Units | $9.0K | $6.0K | $3.0K | — | — | — |
Leviathan Intermediate Holdco, LLC | Leisure Products | First Lien Secured Revolving Loan | $9.0K | — | — | 13.04% | +7.50% | — |
HC Salon Holdings, Inc | Specialized Consumer Services | First Lien Secured Revolving Loan | $8.0K | — | — | 12.15% | +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% | — |
Coastal Television Broadcasting Group LLC | Broadcasting | First Lien Secured Revolving Loan | -$1.0K | — | — | 12.52% | +7.00% | — |
Bridgepoint Healthcare, LLC | Health Care Facilities | First Lien Secured Revolving Loan | -$9.0K | — | — | 13.17% | +7.75% | — |
Power Service Group CR Acquisition Inc | Heavy Electrical Equipment | First Lien Secured Revolver Loan | -$16.0K | — | — | 11.79% | +6.25% | — |
Sleep OpCo LLC | Home Furnishings | First Lien Secured Revolving Loan | -$21.0K | — | — | 11.95% | +6.50% | — |
EducationDynamics, LLC | Education Services | First Lien Secured Revolving Loan | -$36.0K | — | — | 12.42% | +7.00% | — |
The Kyjen Company, LLC | Household Products | First Lien Secured Revolving Loan | -$47.0K | — | — | 13.21% | +7.50% | — |
M&M OpCo. LLC (d/b/a Escalent, Inc.) | Advertising | First Lien Secured Revolving Loan | — | — | — | 13.49% | +8.00% | — |
New American Crafts Holdings, LLC | Office Services & Supplies | Class A Units | — | — | — | — | — | — |
Turnberry Solutions., First Lien Secured Revolving Loan, Floor 1.00%, Spread SF Plus5.75%, Rate 11.45%, Due 9/2/26 | IT Consulting & Other Services | Debt Investments | — | — | — | 11.45% | +5.00% | — |
Disclosed holdings FV
$706.79M
Parsed holdings FV
$706.79M
Residual gap
$0.00
Balance-sheet cash
$10.63M
CIK
0001552198
Accession
0001558370-23-018420
Form type
10-Q
Period
2023-09-30