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W••••••••• F••••••• I•••
A business development company traded as WHF, WHFCL, managed by W••••••••• A•••••••• L••, holding $909M across 114 borrowers at Jun 30, 2026.
Composed from this BDC's filings and its latest schedule of investments.
As of · the latest schedule of investments read for this BDC
- Fair value
- $909M
- Borrowers
- 114
- Mark on cost
- 98.7¢
- First lien
- 83%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
What matters now
- $7.56Mon non-accrual, 1 borrower
1 borrower on non-accrual, $7.56M principal; the largest is P••••••••• G•••• L•• ($7.56M).
Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.
FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen P••••••••• G•••• L•• → - 7 below 80¢$37.3M principal
7 positions across 4 borrowers marked below 80¢ on cost, $37.3M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026
Every headline figure, and the identifiersCIK 1552198 · file 814-00967ShowHide
Fair value
$909M
as of Jun 30, 2026
Principal held
$894M
debt pieces, the filer's figure
Cost
$934M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
250
114 borrowers
First lien
83%
96% debt by fair value
Quarters on the tape
18
since Dec 31, 2020
Facilities held
226
27 sponsors financed
Portfolio through time
Fair value by quarter end$932M as of Jun 30, 2026
Dec 31, 2020$82.7M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $932M | 114 | 99c | 22 | 601 bp |
| Mar 31, 2026 | $891M | 111 | 98c | 26 | 607 bp |
| Dec 31, 2025 | $1.2B | 118 | 99c | 30 | 607 bp |
| Sep 30, 2025 | $931M | 116 | 97c | 26 | 622 bp |
All 18 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $981M | 121 | 98c | 28 | 627 bp |
| Mar 31, 2025 | $983M | 121 | 98c | 36 | 655 bp |
| Dec 31, 2024 | $1.3B | 121 | 98c | 45 | 671 bp |
| Sep 30, 2024 | $994M | 123 | 99c | 39 | 693 bp |
| Jun 30, 2024 | $1.0B | 119 | 98c | 37 | 699 bp |
| Mar 31, 2024 | $1.0B | 115 | 98c | 41 | 707 bp |
| Dec 31, 2023 | $1.3B | 121 | 96c | 41 | 688 bp |
| Sep 30, 2023 | $1.1B | 111 | 97c | 36 | 702 bp |
| Jun 30, 2023 | $1.1B | 111 | 98c | 34 | 701 bp |
| Mar 31, 2023 | $1.1B | 112 | 98c | 30 | 684 bp |
| Dec 31, 2022 | $1.2B | 111 | 98c | 27 | 644 bp |
| Sep 30, 2022 | $1.1B | 101 | 99c | 25 | 691 bp |
| Dec 31, 2021 | $1.1B | 106 | 99c | 26 | 697 bp |
| Dec 31, 2020 | $82.7M | 4 | n/a | 0 | n/a |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest increasedJun 30, 2026
Full timeline · 20 eventsShow fewer
- PIK interest increasedJun 30, 2026
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Lender left a facilityMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- PIK interest increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
- Lender left a facilityDec 31, 2025
Largest facilities held, with co-lenders
- W•• S••• O••• unsecured or subordinated term loan1 BDC hold it$108M 121c
- T•• I••••• P•••••• L•• equity1 BDC hold it$20.8M 77c
- A••••••••• O•••••• G•••• L•• first lien term loan7 BDCs hold it · matures Feb 23, 2028$20.4M 101c
- F••••• P•••••• T••••••••• L• first lien term loan1 BDC hold it · matures Dec 7, 2026$18.6M 100c
- M••••• D••••• M•••• 2• L•• first lien term loan2 BDCs hold it · matures May 31, 2027$17.6M 96c
- G•• C••••••••• I•• first lien term loan2 BDCs hold it · matures Apr 15, 2031$15.2M 101c
- C•••••••• F•••••• H•••••••• L•• first lien term loan1 BDC hold it · matures Sep 25, 2029$14.2M 25c
- S••••• C••• H•••••••• L•• first lien term loan2 BDCs hold it · matures Jul 30, 2027$13.8M 99c
- Z••••• B••••• L•• first lien term loan1 BDC hold it · matures Jan 31, 2031$13.8M 102c
- L•••••••• I••••••••• H•••••• L•• first lien term loan3 BDCs hold it · matures Dec 27, 2027$13.6M 100c
- S•••• O•••• L•• first lien term loan1 BDC hold it · matures Nov 7, 2030$13.4M 101c
- D••• F••• C•••••••• I•• first lien term loan3 BDCs hold it · matures Dec 5, 2028$13.3M 100c
Schedule of investments at Dec 31, 2024
315 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| B••••• A••••••••• H•••••••• L•• | revolver first lien | $420,000 | $415,000 101c | SOFR+625 bp | Jan 2, 2029 |
| M•• S••••••••• I••• | delayed draw term loan first lien | $414,000 | $402,000 98c | SOFR+810 bp | Sep 29, 2028 |
| M•• S••••••••• I••• | delayed draw term loan first lien | $414,000 | $402,000 98c | SOFR+810 bp | Sep 29, 2028 |
| S••••••• P••• B••••••• L•• ••••• B••••• I••••••••• I•••• | equity equity | $404,000 | $388,000 96c | ||
| A••••••• C•••••• L• S•••• S••••• P••••••• | term loan first lien | $2.5M | $373,000 16c | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+850 bp PIK 12.96% | May 28, 2026 |
| M••••••• H••••••• L• ••••• E•••••••• I•••• | equity equity | $327,000 | $368,000 110511c | ||
| T••• R•••• C••• L• ••••• C•• O••••••••• | equity equity | $63,000 | $350,000 110c | ||
| P••••••• P••••••• I••••••• L•• | revolver first lien | $338,000 | $341,000 103c | SOFR+675 bp | Feb 7, 2029 |
| P••••••• P••••••• I••••••• L•• | revolver first lien | $338,000 | $341,000 103c | SOFR+675 bp | Feb 7, 2029 |
| M•••••• T•••• T•• C•• L•• ••••• U• P•••••••• P•••••••• L••• | revolver first lien | $326,000 | $328,000 103c | //fasb.org/us-gaap/2024#Base Rate+692 bp | Dec 22, 2028 |
| F••••••••• B•••• G••••• L•• | term loan first lien | $357,000 | $321,000 90c | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+800 bp | Dec 9, 2025 |
| W••••• I••••••••• C••• L•• | revolver first lien | $258,000 | $254,000 100c | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+625 bp | Aug 1, 2029 |
| M•• M••••• T•••••• L•• | revolver first lien | $241,000 | $249,000 106c | Prime+550 bp | Apr 10, 2028 |
| M•• M••••• T•••••• L•• | revolver first lien | $241,000 | $249,000 106c | Prime+550 bp | Apr 10, 2028 |
| B•••••• A••••••• L•• | revolver first lien | $234,000 | $248,000 108c | SOFR+650 bp | Aug 1, 2029 |
| Q•••• E•••••• L•• | revolver first lien | $247,000 | $248,000 101c | SOFR+700 bp | Sep 30, 2027 |
| Q•••• E•••••• L•• | revolver first lien | $247,000 | $248,000 101c | SOFR+700 bp | Sep 30, 2027 |
| S•••• R••••••• I••••••••• L•• | preferred equity equity | $200,000 | $242,000 121c | S+800 bp | |
| S•••• R••••••• H•••••••• L•• | preferred equity equity | Not disclosed | $242,000 121c | S+800 bp | |
| B••••••••• H••••••••• L•• | revolver first lien | $238,000 | $231,000 97c | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+800 bp | Oct 5, 2026 |
| S••• F•••••• H•••••••• I•• | equity equity | $2,000 | $173,000 9c | ||
| N••••• I•• | revolver first lien | $301,000 | $169,000 56c | //fasb.org/us-gaap/2024#Base Rate+684 bp | Jun 28, 2024 |
| C••• F••••••• S••••••• P•••••• L•• | preferred equity equity | $15,000 | $162,000 19c | S+1000 bp | |
| Q•••• E•••••• L•• | equity equity | $333,000 | $149,000 40c | ||
| S•••• R••••••• I••••••••• L•• | equity equity | $400,000 | $132,000 33c | ||
| S•••• R••••••• H•••••••• L•• | equity equity | Not disclosed | $132,000 33c | ||
| E•••••••• D•••••••• L•• S••••• | preferred equity equity | $167,000 | $100,000 60c | ||
| A• C•••••• A••••••••• C••••••••• | delayed draw term loan first lien | $78,000 | $80,000 103c | SOFR+525 bp | Jul 2, 2031 |
| A• C•••••• A••••••••• C••••••••• | delayed draw term loan first lien | $78,000 | $80,000 103c | SOFR+525 bp | Jul 2, 2031 |
| A•••••• H••••• ••••••• ••••• A••••• S•••••••• I•••• | term loan first lien | $2.4M | $74,000 3c | //www.whitehorsefinance.com/20250630#Secured Overnight Financing Rate+700 bp | May 8, 2028 |
| A•••••• H••••• ••••••• ••••• A••••• S•••••••• I•••• | term loan first lien | $2.4M | $74,000 3c | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+700 bp | May 8, 2028 |
| S••• F•••••• H•••••••• I•• | warrants equity | $1,000 | $70,000 9c | Jun 28, 2028 | |
| B•••••• P•••••••• L•• ••••• S•• D••••••••• a•• C••••••••• I•••• | revolver first lien | $60,000 | $63,000 109c | Prime+500 bp | Nov 21, 2028 |
| B•••••• P•••••••• L•• | revolver first lien | $60,000 | $63,000 109c | Prime+500 bp | Nov 21, 2028 |
| Z••••• B••••• L••• ••••• T•• W•••••• C••••••• L••• | revolver first lien | Not disclosed | $48,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+650 bp | Jan 31, 2031 |
| P•••• B•••••• L•• | revolver first lien | $30,000 | $36,000 120c | SOFR+575 bp | May 14, 2029 |
| P•••• B•••••• L•• | revolver first lien | $30,000 | $36,000 120c | SOFR+575 bp | May 14, 2029 |
| P•••• B•••••• L•• | revolver first lien | $27,000 | $33,000 122c | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+575 bp | May 14, 2029 |
| C•••••• I•• | revolver first lien | $29,000 | $30,000 103c | SOFR+550 bp | May 4, 2029 |
| P••••• H•••••• L•• | revolver first lien | Not disclosed | $17,000 | SOFR+550 bp | Oct 26, 2028 |
| A•• L•••• P••••••••• L•• | delayed draw term loan first lien | Not disclosed | $15,000 | SOFR+575 bp | Apr 16, 2030 |
| A•• L•••• P••••••••• L•• | delayed draw term loan first lien | Not disclosed | $15,000 | SOFR+575 bp | Apr 16, 2030 |
| S•••• R••••••• H•••••••• L•• | revolver first lien | Not disclosed | $13,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+800 bp | Dec 2, 2027 |
| S•••• R••••••• H•••••••• L•• ••••• S•••• R•••••••• L••• | revolver first lien | Not disclosed | $13,000 | SOFR+800 bp | Dec 2, 2027 |
| T••••••••• A••••••••• H••••••• L•• | revolver first lien | Not disclosed | $12,000 | SOFR+550 bp | May 31, 2029 |
| I••••••• I••••••••• | equity equity | $235,000 | $12,000 120c | ||
| R••• A••••••••• L•• | revolver first lien | Not disclosed | $11,000 | SOFR+525 bp | Jan 2, 2029 |
| R••• A••••••••• L•• | revolver first lien | Not disclosed | $11,000 | SOFR+525 bp | Jan 2, 2029 |
| L•••••••• I••••••••• H•••••• L•• | revolver first lien | Not disclosed | $10,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+750 bp | Dec 27, 2027 |
| A••••••••• M•••••• S••••••• I••• | revolver first lien | Not disclosed | $9,000 | SOFR+500 bp | Oct 18, 2028 |
| T••••••••• A••••••••• H••••••• L•• | delayed draw term loan first lien | Not disclosed | $9,000 | SOFR+550 bp | May 31, 2029 |
| M•••• A••••••••• I••• | revolver first lien | Not disclosed | $9,000 | SOFR+600 bp | Mar 1, 2029 |
| K••• W••••••• G•••• I••• | revolver first lien | Not disclosed | $9,000 | SOFR+650 bp | Nov 9, 2028 |
| W• E••••••• I••••••••• H•••••••• L•• ••••• W••••••••• E••••••• C••••••••• | revolver first lien | Not disclosed | $9,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+650 bp PIK 1.00% | Aug 15, 2029 |
| R••••• C••••••••• O•••••••• C••••••• I••• ••••• R••••• C••••••••• I•••• | revolver first lien | Not disclosed | $9,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+625 bp | Jun 21, 2029 |
| W• E••••••• I••••••••• H•••••••• L•• | revolver first lien | Not disclosed | $9,000 | SOFR+650 bp PIK 1.00% | Aug 15, 2029 |
| M•••• A••••••••• I•••••••• L••• S•••••• | revolver first lien | Not disclosed | $9,000 | SOFR+600 bp | Mar 1, 2029 |
| B•••• U••• A••••••••• C••• I••• | delayed draw term loan first lien | Not disclosed | $7,000 | SOFR+550 bp | Dec 5, 2028 |
| A•• L•••• P••••••••• L•• | revolver first lien | Not disclosed | $6,000 | SOFR+575 bp | Apr 16, 2030 |
| A•• L•••• P••••••••• L•• | revolver first lien | Not disclosed | $6,000 | SOFR+575 bp | Apr 16, 2030 |
| M•••••• D••••• I•• | revolver first lien | Not disclosed | $6,000 | SOFR+625 bp | Jul 11, 2029 |
| F•••••• S••••••••• L•• | revolver first lien | Not disclosed | $5,000 | SOFR+675 bp | Dec 15, 2026 |
| S•••• O••• L•• | revolver first lien | Not disclosed | $5,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+650 bp | Nov 7, 2030 |
| M••••• O•••• L•• ••••• E•••••••• I•••• | revolver first lien | Not disclosed | $5,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+800 bp | Apr 9, 2029 |
| A• C•••••• A••••••••• C••••••••• | revolver first lien | Not disclosed | $5,000 | SOFR+525 bp | Jul 2, 2031 |
| A• C•••••• A••••••••• C••••••••• | revolver first lien | Not disclosed | $5,000 | SOFR+525 bp | Jul 2, 2031 |
| I•• B•••• I••• | revolver first lien | Not disclosed | $4,000 | SOFR+550 bp | Jun 14, 2027 |
| T•••••••• S••••••••• I•••••••• L••• S•••••• | revolver first lien | Not disclosed | $4,000 | SOFR+575 bp | Mar 2, 2028 |
| T•••••••• S••••••••• | revolver first lien | Not disclosed | $4,000 | SOFR+575 bp | Mar 2, 2028 |
| L••• S••••••• L•• | revolver first lien | Not disclosed | $3,000 | SOFR+850 bp | Feb 24, 2026 |
| L••• S••••••• L•• | revolver first lien | Not disclosed | $3,000 | SOFR+850 bp | Feb 24, 2026 |
| G•• L•••• S•••••• L•••••••• L••• S•••••• | revolver lien unstated | Not disclosed | $2,000 | //www.whitehorsefinance.com/20251231#Canadian Overnight Repo Rate Average+600 bp | Dec 21, 2026 |
| W••••• I••••••••• C••• L•• | delayed draw term loan first lien | Not disclosed | $2,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+625 bp | Aug 1, 2029 |
| C••••• H••••••• L•••••• | revolver first lien | Not disclosed | $2,000 | //www.whitehorsefinance.com/20251231#Sterling Overnight Index Average+550 bp | May 4, 2029 |
| G•• L•••• S•••••• L•• | revolver first lien | Not disclosed | $2,000 | //www.whitehorsefinance.com/20241231#Canadian Overnight Repo Rate Average+600 bp | Dec 21, 2026 |
| C•••••• T••••••••• B••••••••• G•••• L•• | revolver first lien | Not disclosed | $1,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+650 bp | Dec 30, 2026 |
| T•• G••••• I••• ••••• N•••••• G•••• L••• | delayed draw term loan first lien | Not disclosed | -$1,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+750 bp | Jun 28, 2029 |
| B•••••• P•••••••• L•• ••••• S•• D••••••••• a•• C••••••••• I•••• | delayed draw term loan first lien | Not disclosed | -$2,000 | SOFR+600 bp | Nov 21, 2029 |
| B•••••• P•••••••• L•• | delayed draw term loan first lien | Not disclosed | -$2,000 | SOFR+600 bp | Nov 21, 2029 |
| M•• S••••••••• I••• | revolver first lien | Not disclosed | -$3,000 | //www.whitehorsefinance.com/20241231#Canadian Overnight Repo Rate Average+810 bp | Sep 29, 2028 |
| M•• S••••••••• I••• | revolver first lien | Not disclosed | -$3,000 | //www.whitehorsefinance.com/20251231#Canadian Overnight Repo Rate Average+810 bp | Sep 29, 2028 |
| M••••• D••••• M•••• 2• L•• | revolver first lien | Not disclosed | -$38,000 | SOFR+650 bp | May 3, 2027 |
| E••••••••• L•• | revolver first lien | Not disclosed | -$51,000 | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+650 bp | Sep 15, 2027 |
| K•••• I••••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+575 bp | Dec 31, 2029 |
| F••••••• I••••••••• L•• | delayed draw term loan first lien | Not disclosed | Not disclosed | SOFR+575 bp | Nov 26, 2031 |
| P••••••••• G•••• E•••••• I••• | preferred equity equity | $36,000 | Not disclosed n/a | S+1400 bp | |
| T•••••••• M•••• L•• | revolver first lien | Not disclosed | Not disclosed | SOFR+550 bp PIK 0.75% | Dec 28, 2029 |
| A••••••• C••••• G• L•• ••••• A••••••• ••••• L••• | equity equity | Not disclosed | Not disclosed | ||
| H• I• G• C••••••••• L• | unstated lien unstated | Not disclosed | Not disclosed | ||
| E••• A••••••••• L•• | preferred equity equity | Not disclosed | Not disclosed n/a | 12.00% | |
| T•• G••••• I••• ••••• N•••••• G•••• L••• | revolver first lien | Not disclosed | Not disclosed | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+750 bp | Jun 28, 2029 |
| P•• H•••••• I•• | equity equity | Not disclosed | Not disclosed n/a | ||
| A••••••• C••••• L• S•••• P••••••• | term loan first lien | $2.2M | Not disclosed n/a | SOFR+850 bp PIK 12.96% | May 28, 2026 |
| A••••••• C•••••• L• S•••• S••••• P••••••• | term loan first lien | $1.3M | Not disclosed n/a | //www.whitehorsefinance.com/20251231#Secured Overnight Financing Rate+850 bp PIK 12.96% | May 28, 2026 |
| A••••••• C••••• H•••••••• L•• | warrants equity | Not disclosed | Not disclosed | Dec 22, 2032 | |
| A••••••• C••••• G• L•• ••••• A••••••• ••••• L••• | equity equity | $663,000 | Not disclosed | ||
| M•• S•••••••• I••• | equity equity | $4,000 | Not disclosed n/a | ||
| N•• A••••••• C••••• H•••••••• L•• | equity equity | Not disclosed | Not disclosed | ||
| S•••• R••••••• I••••••••• L•• | preferred equity equity | Not disclosed | Not disclosed | ||
| P••••••••• G•••• E•••••• I•• | equity equity | $72,000 | Not disclosed n/a |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2013 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
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