BDC·info
WHF

WhiteHorse Finance

Period
SEC EDGAR ↗
Portfolio Fair Value
$543.04M
141 holdings
Avg Spread
+6.50%
FV-weighted, debt
Avg Coupon
10.21%
FV-weighted
% First Lien
71.3%
of debt FV
Unrealized P/L
-$30.79M
-5.37% of cost
Non-Accrual
0
text-detected

Balance sheet

Assets$606.04M
Liabilities + Equity$606.04M
First Lien
$387.38M · 63.9%
Subordinated
$84.42M · 13.9%
Debt (Borrowings)
$324.14M · 53.5%
Net Assets (Equity)
$250.34M · 41.3%

Industry Composition

Specialized Finance
21.5%
Air Freight & Logistics
5.7%
Education Services
5.5%
Systems Software
5.3%
Data Processing & Outsourced Services
4.9%
Leisure Products
4.7%
Application Software
4.3%
Health Care Supplies
3.7%
Specialized Consumer Services
3.6%
Technology Hardware, Storage & Peripherals
3.6%
Home Furnishings
3.3%
Industrial Machinery & Supplies & Components
3.3%
Other industries
30.6%

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

Spread Distribution

1.0%
3.5%
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
141 of 141
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
WHF STRS Ohio Senior Loan Fund LLC
Specialized Finance
Interests
$21.25M
$21.10M
$149.0K
ABB/Con-cise Optical Group LLC
Health Care Supplies
First Lien Secured Term Loan
$20.17M
$20.25M
-$74.0K
11.36%+7.50%
Future Payment Technologies, LP
Data Processing & Outsourced Services
First Lien Secured Term Loan
$18.86M
$18.85M
$10.0K
12.02%+8.25%
GTT Communications Global, LLC (d/b/a GTT Communications, Inc.)
Integrated Telecommunication Services
First Lien Secured Term Loan
$15.19M
$14.99M
$205.0K
9.67%+6.00%
Zephyr Buyer, L.P. (d/b/a The Weather Company, LLC)
Interactive Media & Services
First Lien Secured Term Loan
$13.91M
$13.68M
$232.0K
8.45%+4.75%
Leviathan Intermediate Holdco, LLC
Leisure Products
First Lien Secured Term Loan
$13.55M
$13.47M
$83.0K
9.70%+6.00%
Sleep OpCo LLC
Home Furnishings
First Lien Secured Term Loan
$13.35M
$13.24M
$117.0K
9.16%+5.50%
Motivational Marketing, LLC
Air Freight & Logistics
First Lien Secured Term Loan
$13.14M
$13.08M
$64.0K
10.17%+6.50%
EducationDynamics, LLC
Education Services
First Lien Secured Term Loan
$12.59M
$12.54M
$51.0K
+6.50%
W Electric Intermediate Holdings, LLC (d/b/a Westinghouse Electric Corporation)
Industrial Machinery & Supplies & Components
First Lien Secured Term Loan
$12.29M
$12.16M
$123.0K
10.18%+6.50%
Telestream 2 LLC (d/b/a Telestream Holdings Corporation)
Technology Hardware, Storage & Peripherals
First Lien Secured Term Loan
$11.41M
$11.41M
$0.00
9.90%+6.25%
Texas Express Wash, LLC
Specialized Consumer Services
First Lien Secured Term Loan
$10.94M
$10.77M
$169.0K
10.21%+6.50%
UserZoom Technologies, Inc.
Application Software
First Lien Secured Term Loan
$10.43M
$10.48M
-$53.0K
11.17%+7.50%
Island Energy Services, LLC
Oil & Gas Storage & Transportation
First Lien Secured Term Loan
$10.18M
$10.07M
$114.0K
9.17%+5.50%
Rewards Network Inc.
Specialized Finance
First Lien Secured Term Loan
$10.04M
$10.04M
-$1.0K
9.67%+6.00%
Cultural Experiences Abroad, LLC (d/b/a Cultural Experiences Abroad, Inc.)
Education Services
First Lien Secured Term Loan
$9.37M
$9.37M
-$1.0K
+6.00%
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Term Loan
$9.27M
$9.13M
$140.0K
11.27%+7.50%
Camp Facility Services Holdings, LLC (d/b/a Camp Construction Services, Inc.)
Real Estate Services
First Lien Secured Term Loan
$9.25M
$10.01M
-$753.0K
10.27%+6.50%
MBS Highway, LLC
Application Software
First Lien Secured Term Loan
$9.15M
$9.11M
$40.0K
12.03%+8.00%
Arcserve Cayman Topco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Common Units
$9.14M
$19.57M
-$10.43M
TOT Group, Inc. (d/b/a Netevia Group LLC)
Transaction & Payment Processing Services
First Lien Secured Term Loan
$9.14M
$9.00M
$139.0K
10.95%+7.25%
M2S Group Intermediate Holdings, Inc.
Paper Products
First Lien Secured Term Loan
$9.02M
$8.62M
$401.0K
8.42%+4.75%
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.)
Air Freight & Logistics
First Lien Secured Term Loan
$8.70M
$8.83M
-$133.0K
10.67%+7.00%
Ribbon Communications Operating Company, Inc. (d/b/a Ribbon Communications Inc.)
Systems Software
First Lien Secured Term Loan
$8.60M
$8.44M
$159.0K
9.92%+6.25%
LogicMonitor, Inc.
Systems Software
First Lien Secured Term Loan
$8.22M
$8.13M
$85.0K
9.17%+5.50%
Telestream Topco 2 LLC (d/b/a Telestream Holdings Corporation)
Technology Hardware, Storage & Peripherals
Common Units
$8.10M
$7.11M
$987.0K
NNA Services, LLC
Diversified Support Services
First Lien Secured Term Loan
$7.97M
$7.99M
-$18.0K
10.60%+6.75%
The Kyjen Company, LLC
Household Products
First Lien Secured Term Loan
$7.76M
$11.31M
-$3.54M
11.27%+7.50%
Transervice Holdings, Inc. (d/b/a Transervice Logistics, Inc.)
Air Freight & Logistics
First Lien Secured Term Loan
$7.64M
$7.54M
$103.0K
11.02%+7.25%
BUSA Acquisition Co. (d/b/a BankCard USA Merchant Services Inc.) First Lien Secured Term Loan
Data Processing & Outsourced Services
Debt Investments
$7.25M
$7.14M
$110.0K
10.29%+6.50%
Wamp;A Intermediate Co., LLC
Health Care Services
First Lien Secured Term Loan
$7.05M
$7.00M
$43.0K
9.95%+6.25%
Surge Amuze Holdings Inc.
Leisure Products
First Lien Secured Term Loan
$5.65M
$5.59M
$62.0K
9.92%+6.25%
Pressurized Holdings, LLC
Diversified Chemicals
Preferred Units
$5.40M
$4.54M
$865.0K
Industrial Service Solutions WC, Inc
Industrial Machinery & Supplies & Components
First Lien Secured Term Loan
$5.06M
$5.06M
$0.00
8.17%+4.50%
Lift Brands, Inc
Leisure Facilities
First Lien Secured Term Loan A
$5.06M
$5.06M
$1.0K
11.27%+7.50%
Salon Republic Holdings, LLC (d/b/a Salon Republic, LLC)
Specialized Consumer Services
First Lien Secured Term Loan
$5.01M
$4.97M
$41.0K
11.77%+8.00%
Claridge Products and Equipment, LLC
Construction Materials
First Lien Secured Term Loan
$4.96M
$5.19M
-$230.0K
12.52%+8.75%
Kelso Industries LLC
Construction & Engineering
First Lien Secured Term Loan
$4.90M
$4.79M
$110.0K
9.42%+5.75%
Mamp;M OpCo. LLC (d/b/a Escalent, Inc.)
Research & Consulting Services
First Lien Secured Term Loan
$4.79M
$4.72M
$72.0K
9.70%+6.00%
Whitestone Home Furnishings, LLC (d/b/a Saatva, Inc.)
Home Furnishings
First Lien Secured Term Loan
$4.67M
$4.66M
$15.0K
9.17%+5.50%
Four Winds Health, LLC
Health Care Facilities
First Lien Secured Term Loan
$4.37M
$4.28M
$88.0K
10.70%+7.00%
Media Source, LLC (d/b/a Media Source Inc.)
Education Services
First Lien Secured Term Loan
$4.22M
$4.28M
-$66.0K
9.42%+5.75%
PANOS Brands, LLC
Packaged Foods & Meats
First Lien Secured Term Loan #One
$4.02M
$3.97M
$50.0K
9.42%+5.75%
Chase Products Co. (f/k/a Starco) Second Lien Secured Term Loan
Diversified Chemicals
Debt Investments
$3.40M
$3.40M
$0.00
+5.50%
Infotree Holdco LLC
Human Resource & Employment Services
First Lien Secured Term Loan
$2.90M
$2.89M
$4.0K
9.45%+5.75%
Camarillo Fitness Holdings, LLC
Leisure Facilities
First Lien Secured Term Loan
$2.87M
$10.23M
-$7.36M
+8.50%
TVG I-EMSI Parent, LLC
Education Services
Class B units
$2.82M
$3.29M
-$473.0K
Trimlite Buyer LLC (d/b/a Trimlite LLC)
Building Products
First Lien Secured Term Loan #One
$2.72M
$2.72M
$0.00
8.41%+4.75%
Surge Amuze Holdings Inc.
Leisure Products
First Lien Secured Delayed Draw Loan
$2.26M
$2.24M
$15.0K
9.95%+6.25%
Snap Fitness Holdings, Inc
Leisure Facilities
First Lien Secured Term Loan C
$2.15M
$2.14M
$3.0K
Playmonster Group LLC
Leisure Products
First Lien Secured Term Loan
$2.08M
$3.66M
-$1.58M
+9.00%
What If Media Group, LLC
Interactive Media & Services
Common Units
$1.96M
$851.0K
$1.11M
Colonnade Parent, Inc. (d/b/a Naviga Inc.)
Application Software
First Lien Secured Term Loan
$1.91M
$2.93M
-$1.02M
4.80%+1.00%
Lift Brands, Inc
Leisure Facilities
First Lien Secured Term Loan B
$1.78M
$1.78M
$0.00
Atlas Parent, LLC
Application Software
Common Units
$1.69M
$1.68M
$7.0K
Salon Republic Holdings, LLC (d/b/a Salon Republic, LLC)
Specialized Consumer Services
First Lien Secured Delayed Draw Loan
$1.64M
$1.63M
$10.0K
11.77%+8.00%
BPII-JL Group Holdings LP (d/b/a Juniper Landscaping Holdings LLC)
Environmental & Facilities Services
Class A Units
$1.57M
$942.0K
$633.0K
Texas Express Wash, LLC
Specialized Consumer Services
Second Lien Secured Term Loan
$1.54M
$1.47M
$71.0K
Playmonster Group LLC
Leisure Products
Priority First Lien Secured Term Loan
$1.45M
$1.48M
-$29.0K
+6.75%
Trimlite Buyer LLC (d/b/a Trimlite LLC)
Building Products
First Lien Secured Term Loan
$1.35M
$1.38M
-$32.0K
7.02%+4.75%
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
First Lien Secured Delayed Draw Loan
$1.23M
$800.0K
$430.0K
+8.00%
Juniper Landscaping Holdings LLC
Environmental & Facilities Services
First Lien Secured Delayed Draw Loan
$1.20M
$1.18M
$24.0K
9.42%+5.75%
Quest Events, LLC
Diversified Support Services
First Lien Secured Term Loan
$1.19M
$1.26M
-$77.0K
10.42%+6.75%
TOT Group, Inc. (d/b/a Netevia Group LLC)
Transaction & Payment Processing Services
First Lien Secured Delayed Draw Loan
$1.11M
$1.08M
$24.0K
10.95%+7.25%
Rewards Network Inc.
Specialized Finance
First Lien Secured Revolving Loan
$1.07M
$1.07M
$0.00
9.69%+6.00%
BBQ Buyer, LLC
Household Appliances
Shares
$972.0K
$1.10M
-$128.0K
Maxor Acquisition, Inc.
Health Care Services
First Lien Secured Delayed Draw Loan
$939.0K
$929.0K
$10.0K
9.77%+6.00%
Motivational CIV, LLC
Air Freight & Logistics
Class B Units
$898.0K
$1.25M
-$352.0K
Surge Amuze Holdings Inc.
Leisure Products
First Lien Secured Revolving Loan
$730.0K
$722.0K
$8.0K
10.35%+6.03%
Ross-Simons Topco, LP
Broadline Retail
Preferred Units
$719.0K
$514.0K
$205.0K
Gulf Winds International Acquisition, LLC (d/b/a Gulf Winds International, Inc.)
Air Freight & Logistics
First Lien Secured Revolving Loan
$683.0K
$696.0K
-$13.0K
10.67%+7.00%
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Unsecured Loan #Two
$665.0K
$657.0K
$8.0K
Arcserve Cayman Opco LP (d/b/a Arcserve (USA), LLC)
Systems Software
Unsecured Loan #One
$650.0K
$642.0K
$8.0K
Avision Holdings, LLC (d/b/a Avision Sales Group)
Advertising
First Lien Secured Term Loan
$649.0K
$647.0K
$2.0K
9.77%+6.00%
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Delayed Draw Loan
$645.0K
$635.0K
$10.0K
11.27%+7.50%
Claridge Products and Equipment, LLC
Construction Materials
First Lien Secured Revolving Loan
$600.0K
$632.0K
-$32.0K
13.40%+8.31%
Midwest Texas Tea CA, LLC (d/b/a US Petroleum Partners, LLC)
Distributors
First Lien Secured Revolving Loan
$577.0K
$570.0K
$7.0K
11.27%+7.50%
Avision Holdings, LLC (d/b/a Avision Sales Group)
Advertising
First Lien Secured Delayed Draw Loan
$545.0K
$543.0K
$2.0K
9.77%+6.00%
Four Winds Health, LLC
Health Care Facilities
First Lien Secured Delayed Draw Loan
$529.0K
$494.0K
$35.0K
10.70%+7.00%
Snap Fitness Holdings, Inc
Leisure Facilities
Class A Common Stock
$507.0K
$1.94M
-$1.43M
MGT Merger Target, LLC (d/b/a MGT Consulting Group)
IT Consulting & Other Services
First Lien Secured Delayed Draw Loan
$495.0K
$487.0K
$8.0K
8.66%+5.00%
Juniper Landscaping Holdings LLC
Environmental & Facilities Services
First Lien Secured Term Loan
$453.0K
$448.0K
$5.0K
9.45%+5.75%
BL Products Parent, LP (d/b/a Bishop Lifting Products, Inc.)
Industrial Machinery & Supplies & Components
Class A Units
$438.0K
$788.0K
-$350.0K
EducationDynamics, LLC
Education Services
First Lien Secured Revolving Loan
$423.0K
$418.0K
$5.0K
12.25%+5.50%
Wamp;A Intermediate Co., LLC
Health Care Services
First Lien Secured Revolving Loan
$396.0K
$391.0K
$5.0K
9.95%+6.25%
Avision Holdings, LLC (d/b/a Avision Sales Group)
Advertising
Class A LLC Interests
$318.0K
$304.0K
$14.0K
Twin Ridge CRS, LP (d/b/a CRS OneSource)
Food Distributors
Class A Common Units
$315.0K
$317.0K
-$2.0K
Merriman Holdings LP (d/b/a Escalent, Inc.)
Research & Consulting Services
Class A Units
$309.0K
$333.0K
-$24.0K
BUSA Acquisition Co. (d/b/a BankCard USA Merchant Services Inc.) First Lien Secured Revolving Loan
Data Processing & Outsourced Services
Debt Investments
$284.0K
$271.0K
$13.0K
10.24%+6.50%
Juniper Landscaping Holdings LLC
Environmental & Facilities Services
First Lien Secured Revolving Loan
$245.0K
$236.0K
$9.0K
+5.75%
Salon Republic Investments LLC
Specialized Consumer Services
Preferred Stock
$243.0K
$200.0K
$43.0K
Clark Restaurant Service, LLC
Food Distributors
First Lien Secured Term Loan
$220.0K
$217.0K
$3.0K
+5.75%
Snap Fitness Holdings, Inc
Leisure Facilities
Warrants
$205.0K
$793.0K
-$588.0K
Texas Wash Holdings, LLC (d/b/a ClearWater Express Wash)
Specialized Consumer Services
Warrants
$171.0K
$197.0K
-$26.0K
Colonnade Parent, Inc. (d/b/a Naviga Inc.)
Application Software
First Lien Secured Revolving Loan
$158.0K
$283.0K
-$125.0K
4.80%+1.00%
Keras Holdings, LLC
IT Consulting & Other Services
Shares
$132.0K
$496.0K
-$364.0K
Quest Events, LLC
Diversified Support Services
First Lien Secured Revolving Loan
$116.0K
$127.0K
-$11.0K
+7.50%
Cultural Experiences Abroad, LLC (d/b/a Cultural Experiences Abroad, Inc.)
Education Services
First Lien Secured Revolving Loan
$110.0K
$110.0K
$0.00
+6.00%
Texas Express Wash, LLC
Specialized Consumer Services
First Lien Secured Revolving Loan
$107.0K
$100.0K
$7.0K
10.18%+6.50%
Sterling Pure Blocker, LLC (d/b/a Banner Industries, Inc.)
Construction & Engineering
Class B Units
$79.0K
$404.0K
-$325.0K
Education Dynamics, LLC
Education Services
Senior Preferred Units
$75.0K
$167.0K
-$92.0K
Vistria Blocked MGT Investor, LP (d/b/a MGT Consulting Group)
IT Consulting & Other Services
Series A Units
$72.0K
Industrial Service Solutions WC, Inc
Industrial Machinery & Supplies & Components
First Lien Secured Revolving Loan
$59.0K
$59.0K
$0.00
9.73%+3.75%
Max Solutions Inc.
Paper & Plastic Packaging Products & Materials
Common Stock
$48.0K
$400.0K
-$352.0K
Texas Express Wash, LLC
Specialized Consumer Services
First Lien Secured Delayed Draw Loan
$38.0K
10.21%+6.50%
Zephyr Buyer, L.P. (d/b/a The Weather Company, LLC)
Interactive Media & Services
First Lien Secured Revolving Loan
$30.0K
8.45%+4.75%
Kelso Industries LLC
Construction & Engineering
First Lien Secured Delayed Draw Loan
$25.0K
9.42%+5.75%
Telestream 2 LLC (d/b/a Telestream Holdings Corporation)
Technology Hardware, Storage & Peripherals
First Lien Secured Revolving Loan
$18.0K
9.90%+6.25%
Vistria Blocked MGT Investor, LP (d/b/a MGT Consulting Group)
IT Consulting & Other Services
Preferred Units
$15.0K
Sleep OpCo LLC
Home Furnishings
First Lien Secured Revolving Loan
$13.0K
9.16%+5.50%
Ribbon Communications Operating Company, Inc. (d/b/a Ribbon Communications Inc.)
Systems Software
First Lien Secured Revolving Loan
$11.0K
9.92%+6.25%
Four Winds Health, LLC
Health Care Facilities
First Lien Secured Revolving Loan
$10.0K
10.70%+7.00%
Motivational Marketing, LLC
Air Freight & Logistics
First Lien Secured Revolving Loan
$9.0K
10.17%+6.50%
LogicMonitor
Systems Software
Inc.- First Lien Secured Revolving Loan
$8.0K
9.17%+5.50%
TOT Group, Inc. (d/b/a Netevia Group LLC)
Transaction & Payment Processing Services
First Lien Secured Revolving Loan
$8.0K
10.95%+7.25%
Salon Republic Holdings, LLC (d/b/a Salon Republic, LLC)
Specialized Consumer Services
First Lien Secured Revolving Loan
$7.0K
11.77%+8.00%
LogicMonitor, Inc.
Systems Software
First Lien Secured Delayed Draw Loan
$6.0K
9.17%+5.50%
NM Z Holdco Inc
Household Products
First Lien Secured Revolving Loan
$6.0K
11.27%+7.50%
PANOS Brands, LLC
Packaged Foods & Meats
First Lien Secured Revolving Loan #One
$5.0K
9.42%+5.75%
Leviathan Intermediate Holdco, LLC
Leisure Products
First Lien Secured Revolving Loan
$4.0K
9.70%+6.00%
Mamp;M OpCo. LLC (d/b/a Escalent, Inc.)
Research & Consulting Services
First Lien Secured Revolving Loan
$4.0K
9.70%+6.00%
Whitestone Home Furnishings, LLC (d/b/a Saatva, Inc.)
Home Furnishings
First Lien Secured Revolving Loan
$4.0K
+5.50%
Media Source, LLC (d/b/a Media Source Inc.)
Education Services
First Lien Secured Revolving Loan
$2.0K
9.42%+5.75%
Infotree Holdco LLC
Human Resource & Employment Services
First Lien Secured Revolving Loan
$1.0K
9.45%+5.75%
Rewards Network Inc.
Specialized Finance
First Lien Secured Delayed Draw Loan
$1.0K
9.67%+6.00%
CX Holdco LLC
IT Consulting & Other Services
Common Units
$0.00
$1.12M
-$1.12M
Camp Facility Services Parent, LLC
Real Estate Services
Preferred Units
$0.00
$840.0K
-$840.0K
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
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
Quest Events, LLC
Diversified Support Services
Common Units
$0.00
$394.0K
-$394.0K
Salon Republic Investments LLC
Specialized Consumer Services
Common Stock
$0.00
$400.0K
-$400.0K
Wamp;A Intermediate Co., LLC
Health Care Services
First Lien Secured Delayed Draw Loan
-$1.0K
9.95%+6.25%
Camarillo Fitness Holdings, LLC
Leisure Facilities
First Lien Secured Delayed Draw Loan
-$42.0K
$1.22M
-$1.26M
+8.50%
The Kyjen Company, LLC
Household Products
First Lien Secured Revolving Loan
-$300.0K
11.27%+7.50%
Arcserve Cayman GP LLC (d/b/a Arcserve (USA), LLC)
Systems Software
Common Units
TVG I-EMSI Parent, LLC
Education Services
Class A units
Trimlite Buyer LLC (d/b/a Trimlite LLC)
Building Products
First Lien Secured Delayed Draw Loan
8.41%+4.75%
Disclosed holdings FV
$543.04M
Parsed holdings FV
$543.04M
Residual gap
$0.00
Balance-sheet cash
$11.79M
CIK
0001552198
Accession
0001104659-26-056683
Form type
10-Q
Period
2026-03-31