DFX Intelligence

Private Credit Intelligence

The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.

The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.

BDC portfolio

W••••••••• F••••••• I•••

BDCWHF, WHFCLCIK 1552198file 814-00967Miami, FLmanaged by W••••••••• A•••••••• L••

Fair value

$909M

as of Jun 30, 2026

Principal held

$894M

debt pieces, the filer's figure

Cost

$934M

97c on cost

Unfunded

n/a

commitments not yet drawn

Positions

250

115 borrowers

First lien

83%

96% debt by fair value

Quarters on the tape

since Dec 31, 2020

Facilities held

226

20 sponsors financed

Portfolio through time

Fair value by quarter end$909M as of Jun 30, 2026

Dec 31, 2020$82.7M then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$909M	115	99c	22	591 bp
Mar 31, 2026	$870M	112	98c	26	596 bp
Dec 31, 2025	$1.1B	119	99c	30	599 bp
Sep 30, 2025	$910M	117	97c	26	616 bp
Jun 30, 2025	$959M	122	98c	28	621 bp
Mar 31, 2025	$961M	122	96c	36	647 bp
Dec 31, 2024	$1.3B	122	107c	37	660 bp
Sep 30, 2024	$964M	124	97c	37	690 bp
Jun 30, 2024	$987M	119	98c	36	695 bp
Mar 31, 2024	$1.0B	115	98c	40	704 bp
Dec 31, 2023	$1.3B	121	107c	34	685 bp
Sep 30, 2023	$1.0B	111	97c	35	698 bp
Jun 30, 2023	$1.1B	111	98c	33	698 bp
Mar 31, 2023	$1.1B	112	98c	30	684 bp
Dec 31, 2022	$1.2B	111	108c	26	644 bp
Sep 30, 2022	$1.0B	101	99c	25	691 bp
Dec 31, 2021	$1.1B	106	106c	26	693 bp
Dec 31, 2020	$82.7M	4	n/a	0	n/a

Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.

Sponsors financed

No borrower on this schedule has a sponsor attribution yet.

Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.

What changed

New borrower on a BDC scheduleJun 30, 2026
E••••• a•• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleJun 30, 2026
I••••••••• C•••• C••••••••• I•• first appears in a BDC schedule (1 lender)
New borrower on a BDC scheduleJun 30, 2026
V•••••••• M•••••••• a•• first appears in a BDC schedule (1 lender)
Marked down (one lender)Jun 30, 2026
W••••••••• F••••••• I•••: fair value markdown in A••••••• C••••• O••• L• (160 to 149 cents on cost)
Marked down (one lender)Jun 30, 2026
W••••••••• F••••••• I•••: fair value markdown in I••••• A•••••••• L•• (171 to 104 cents on cost)
Spread increasedJun 30, 2026
W••••••••• F••••••• I•••: spread increased in M•••• M••••••••• L•• (3.25% to 4.00%)
PIK interest increasedJun 30, 2026
W••••••••• F••••••• I•••: pik increased in N• Z• H••••• I•• (1.00% to 2.50%)
PIK interest increasedJun 30, 2026
W••••••••• F••••••• I•••: pik increased in T•• K•••• C••••••• L•• (1.00% to 2.50%)
New lender joined a facilityMar 31, 2026
W••••••••• F••••••• I••• joins I••••• E••••• S•••••••• L•• term loan (first lien) held by 1 other BDC
New lender joined a facilityMar 31, 2026
W••••••••• F••••••• I••• joins C••••••• E••••••••• A•••••• L•• term loan (first lien) held by 1 other BDC
New lender joined a facilityMar 31, 2026
W••••••••• F••••••• I••• joins C••••••• E••••••••• A•••••• L•• revolver (first lien) held by 1 other BDC
Lender left a facilityMar 31, 2026
W••••••••• F••••••• I••• no longer holds I••••••••• S•••••• S•••••••• W•• I•• revolver after 2026-03-31; 2 BDC(s) still hold it
Marked down (one lender)Mar 31, 2026
W••••••••• F••••••• I•••: fair value markdown in A••••••• C••••• O••• L• (160 to 154 cents on cost)
Marked down (one lender)Mar 31, 2026
W••••••••• F••••••• I•••: fair value markdown in C••••• H••••••• L•••••• (100 to 94 cents on cost)
Marked down (one lender)Mar 31, 2026
W••••••••• F••••••• I•••: fair value markdown in T•• K•••• C••••••• L•• (86 to 69 cents on cost)
Marked down (one lender)Mar 31, 2026
W••••••••• F••••••• I•••: fair value markdown in C•••••••• F•••••• H•••••••• L•• (52 to 28 cents on cost)
PIK interest increasedMar 31, 2026
W••••••••• F••••••• I•••: pik increased in C•••• P••••••• C• (0.18% to 9.20%)
Spread increasedMar 31, 2026
W••••••••• F••••••• I•••: spread increased in N• Z• H••••• I•• (5.00% to 7.50%)
Spread increasedMar 31, 2026
W••••••••• F••••••• I•••: spread increased in R••• A••••••••• L•• (5.50% to 6.00%)
Spread increasedMar 31, 2026
W••••••••• F••••••• I•••: spread increased in R••• A••••••••• L•• (5.50% to 6.00%)

Every position change, including routine ones

Largest facilities held, with co-lenders

W•• S••• O••• unsecured or subordinated term loan
1 BDC hold it
$108M 101c
T•• I••••• P•••••• L•• equity
1 BDC hold it
$20.8M 77c
A•• first lien term loan
6 BDCs hold it · matures Feb 23, 2028
$20.4M 101c
F••••• P•••••• T••••••••• L• first lien term loan
1 BDC hold it · matures Dec 7, 2026
$18.6M 100c
M••••• D••••• M•••• 2• L•• first lien term loan
2 BDCs hold it · matures May 31, 2027
$17.6M 96c
G•• C••••••••• G•••••• L•• first lien term loan
2 BDCs hold it · matures Apr 15, 2031
$15.2M 101c
C•••••••• F•••••• H•••••••• L•• first lien term loan
1 BDC hold it · matures Sep 25, 2029
$14.2M 25c
S••••• C••• H•••••••• L•• first lien term loan
2 BDCs hold it · matures Jul 30, 2027
$13.8M 99c
Z••••• B••••• L•• first lien term loan
1 BDC hold it · matures Jan 31, 2031
$13.8M 102c
L•••••••• I••••••••• H•••••• L•• first lien term loan
3 BDCs hold it · matures Dec 27, 2027
$13.6M 100c
S•••• O•••• L•• first lien term loan
3 BDCs hold it · matures Nov 7, 2030
$13.4M 101c
D••• F••• C•••••••• I•• first lien term loan
3 BDCs hold it · matures Dec 5, 2028
$13.3M 100c

Schedule of investments at Jun 30, 2026

250 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
W•• S••• O•••	term loan unsecured or subordinated	$86.3M	$86.3M 100c
W•• S••• O•••	term loan unsecured or subordinated	$21.6M	$22.4M 104c
ABB/Con-cise Optical Group LLC	term loan first lien	$20.4M	$20.4M 101c	SOFR+750 bp	Feb 23, 2028
F••••• P•••••• T••••••••• L•	term loan first lien	$18.6M	$18.6M 100c	SOFR+825 bp	Dec 7, 2026
M••••• D••••• M•••• 2• L••	term loan first lien	$17.6M	$17.0M 96c	SOFR+650 bp	May 3, 2027
G•• C••••••••• G•••••• L•• (d/b/a GTT C•••••••••, Inc.)	term loan first lien	$15.2M	$15.2M 101c	SOFR+600 bp	Apr 15, 2031
Z••••• B••••• L••. (d/b/a The Weather Company, LLC)	term loan first lien	$13.8M	$13.8M 102c	SOFR+475 bp	Jan 31, 2031
S••••• C••• H•••••••• L••	term loan first lien	$13.8M	$13.7M 99c	SOFR+650 bp	Jul 30, 2027
L•••••••• I••••••••• H•••••• L••	term loan first lien	$13.6M	$13.5M 100c	SOFR+600 bp	Dec 27, 2027
S•••• OpCo LLC	term loan first lien	$13.4M	$13.4M 101c	SOFR+550 bp	Nov 7, 2030
D••• F••• C•••••••• I••	term loan first lien	$13.3M	$13.2M 100c	SOFR+600 bp	Dec 5, 2028
M••••••••• M••••••••• L•• (d/b/a M••••••••• Fulfillment), LLC	term loan first lien	$13.1M	$13.1M 100c	SOFR+650 bp	Jul 12, 2028
A• C•••••• A••••••••• C•••••••••	term loan first lien	$13.0M	$13.0M 101c	SOFR+525 bp	Jul 2, 2031
E••••••••• L••	term loan first lien	$12.6M	$12.6M 100c	//fasb.org/us-gaap/2025#Base Rate+650 bp	Sep 15, 2027
W• E••••••• I••••••••• H•••••••• L•• (d/b/a Westinghouse E••••••• Corporation)	term loan first lien	$12.3M	$12.3M 101c	SOFR+600 bp PIK 0.50%	Aug 15, 2029
P••••• H•••••• L••	term loan first lien	$12.2M	$12.2M 101c	SOFR+450 bp	Oct 26, 2028
W••• B••••• I••.	term loan first lien	$12.2M	$12.1M 100c	SOFR+475 bp	Apr 10, 2031
Q•••• E•••••• L••	term loan first lien	$11.8M	$11.8M 100c	SOFR+750 bp	Sep 30, 2027
T••••••••• 2 LLC (d/b/a T••••••••• H••••••• C•••••••••)	term loan first lien	$11.4M	$11.4M 100c	SOFR+625 bp	Jun 7, 2028
T•••• E•••••• W•••• L••	term loan first lien	$11.1M	$11.0M 102c	SOFR+650 bp	Nov 26, 2030
J•••••• L••••••••• H••••••• L••	term loan first lien	$10.9M	$10.9M 100c	//fasb.org/us-gaap/2025#Base Rate+575 bp	Dec 29, 2027
U••••••• T••••••••• I••.	term loan first lien	$10.7M	$10.4M 99c	SOFR+775 bp PIK 1.75%	Apr 5, 2029
N• Z• H••••• I••. (d/b/a Zep, Inc.)	term loan first lien	$10.3M	$10.4M 102c	SOFR+500 bp	Jun 30, 2031
R••• A••••••••• L••	term loan first lien	$10.8M	$10.3M 96c	SOFR+550 bp	Jan 2, 2029
I••••• E••••• S•••••••• L••	term loan first lien	$10.4M	$10.3M 102c	SOFR+575 bp	Jul 16, 2032
E••••• a••; Co Inc. (d/b/a E••••• Office, Inc.)	term loan first lien	$10.3M	$10.1M 100c	SOFR+600 bp	May 30, 2031
R•••••• N•••••• I••.	term loan first lien	$10.2M	$10.1M 101c	SOFR+600 bp	Dec 5, 2031
C••• F••••••• S••••••• H•••••••• L•• (d/b/a C••• Construction S••••••s, Inc.)	term loan first lien	$10.2M	$9.4M 92c	SOFR+650 bp	Nov 16, 2028
C••••••• E••••••••• A•••••• L•• (d/b/a C••••••• E••••••••• A•••••, Inc.)	term loan first lien	$9.5M	$9.4M 100c	SOFR+600 bp	Jan 21, 2032
M•••••• T•••• T•• C•• L•• (d/b/a US Petroleum Partners, LLC)	term loan first lien	$9.2M	$9.3M 102c	SOFR+750 bp	Dec 22, 2028
A••••••• C••••• Topco LP (d/b/a A••••••• (USA), LLC)	equity equity	$663,000	$9.1M 47c
S••• B••••• I••.	term loan first lien	$9.0M	$9.1M 102c	SOFR+475 bp	Mar 28, 2031
M•• H••••••• L••	term loan first lien	$9.2M	$9.1M 100c	SOFR+800 bp	Oct 13, 2027
T•• G••••• I••. (d/b/a Netevia Group LLC)	term loan first lien	$9.1M	$9.1M 101c	SOFR+750 bp	Jun 28, 2029
M2S Group I••••••••• Holdings, Inc.	term loan first lien	$9.0M	$8.9M 105c	SOFR+475 bp	Aug 25, 2031
F•••••• S••••••••• L••	term loan first lien	$8.9M	$8.9M 100c	SOFR+675 bp	Dec 15, 2026
G••• W•••• I••••••••• A•••••••••, LLC (d/b/a G••• W•••• I•••••••••, Inc.)	term loan first lien	$9.0M	$8.7M 98c	SOFR+700 bp PIK 1.00%	Dec 18, 2028
R••••• C••••••••• O•••••••• C••••••• I••. (d/b/a R••••• C••••••••• Inc.)	term loan first lien	$8.5M	$8.5M 101c	SOFR+625 bp	Jun 21, 2029
M•• M••••• T•••••• L••	term loan first lien	$8.5M	$8.4M 100c	SOFR+525 bp	Apr 10, 2029
P••••••••• H•••••••• L••	preferred equity equity	n/a	$8.3M 183c
L••••••••• I••.	term loan first lien	$8.2M	$8.2M 101c	SOFR+550 bp	Nov 19, 2031
T••••••••• Topco 2 LLC (d/b/a T••••••••• H••••••• C•••••••••)	equity equity	$497,000	$8.1M 114c
T••••••••• A••••••••• H••••••• L••	term loan first lien	$8.1M	$8.1M 102c	SOFR+525 bp	May 31, 2029
N•• S•••••••• L••	term loan first lien	$7.9M	$7.9M 100c	SOFR+675 bp	Aug 28, 2028
T•• K•••• C••••••• L••	term loan first lien	$11.4M	$7.7M 68c	SOFR+750 bp PIK 1.00%	Oct 6, 2026
T••••••••• H•••••••• I••. (d/b/a T••••••••• Logistics, Inc.)	term loan first lien	$7.6M	$7.6M 101c	SOFR+750 bp	Jun 29, 2028
B••• A••••••••• C•. (d/b/a BankCard USA Merchant S••••••s Inc.)	term loan first lien	$7.1M	$7.1M 101c	SOFR+650 bp	Apr 10, 2029
S••••• I••.	term loan first lien	$6.2M	$7.1M 109c	//www.whitehorsefinance.com/20260630#Euro Interbank Offered Rate Three Month Term+600 bp	Apr 28, 2028
W•••;A I••••••••• Co., LLC	term loan first lien	$7.1M	$7.0M 101c	SOFR+625 bp	Aug 1, 2029
B•••••• A••••••• L••	term loan first lien	$6.8M	$6.8M 101c	SOFR+642 bp	Aug 1, 2029
M••• B•••• L••	term loan first lien	$6.7M	$6.6M 100c	SOFR+525 bp	Dec 22, 2031
A•••••• H•••••••• L•• (d/b/a A•••••• Wealth Management, LLC)	term loan first lien	$6.6M	$6.6M 102c	SOFR+550 bp	Jun 18, 2032
I••••••••• C•••• C••••••••• I••. (d/b/a I•••••••••.net, Inc.)	term loan first lien	$6.7M	$6.6M 100c	SOFR+550 bp	Nov 26, 2031
T•••••••• M•••• L••	term loan first lien	$6.6M	$6.5M 100c	SOFR+550 bp PIK 0.75%	Dec 28, 2029
M•• S••••••••• I••.	term loan first lien	$6.4M	$6.4M 101c	SOFR+691 bp	Sep 29, 2028
R•• P••••••• I••.	term loan first lien	$6.6M	$6.4M 98c	SOFR+725 bp PIK 0.50%	Jan 3, 2028
V•••••••• M•••••••• a••; Controls, Inc	term loan first lien	$6.4M	$6.3M 100c	SOFR+500 bp	Jun 23, 2031
K••• W••••••• G•••• I••.	term loan first lien	$6.3M	$6.3M 101c	SOFR+650 bp	Nov 9, 2028
M•••• M••••••••• L••	term loan first lien	$6.0M	$6.0M 100c	SOFR+400 bp	Nov 21, 2031
T•••••••• S••••••••• I••.First Lien Secured	term loan first lien	$5.9M	$5.9M 100c	SOFR+600 bp	Mar 2, 2028
S•••• A•••• H••••••• I••.	term loan first lien	$5.7M	$5.6M 101c	SOFR+625 bp	Sep 6, 2029
E•• D•••••• L••	term loan first lien	$5.5M	$5.5M 101c	SOFR+450 bp	Nov 14, 2031
F••••••• I••••••••• LLC	term loan first lien	$5.3M	$5.3M 101c	SOFR+475 bp	Nov 26, 2031
M••• B•••• L••	term loan first lien	$4.6M	$5.2M 97c	//www.whitehorsefinance.com/20260630#Euro Interbank Offered Rate Three Month Term+525 bp	Dec 22, 2031
C••••••• P••••••• and Equipment, LLC	term loan first lien	$5.2M	$5.1M 98c	SOFR+800 bp PIK 4.00%	Mar 31, 2027
K•••• I••••••••• L••	term loan first lien	$5.1M	$5.1M 101c	SOFR+575 bp	Dec 31, 2029
I••••••••• S•••••• S•••••••• W•• I••	term loan first lien	$5.1M	$5.1M 100c	SOFR+450 bp	Feb 7, 2033
P•• P••••• L••	term loan first lien	$5.1M	$5.0M 100c	SOFR+500 bp	Dec 31, 2031
S•••• R••••••• H•••••••• L•• (d/b/a S•••• R•••••••, LLC)	term loan first lien	$5.0M	$5.0M 101c	SOFR+800 bp	Dec 2, 2027
L••• B•••••• I••	term loan first lien	$5.0M	$5.0M 100c	SOFR+750 bp	Sep 30, 2026
N••• L••••• C•••.	term loan first lien	$5.3M	$5.0M 94c	SOFR+650 bp	Jan 21, 2027
A•••••• H•••••••• L•• (d/b/a A•••••• Wealth Management, LLC)	delayed draw term loan first lien	$4.8M	$4.9M 103c	//fasb.org/us-gaap/2025#Base Rate+550 bp	Jun 18, 2032
M•••• A••••••••• I••.	term loan first lien	$4.9M	$4.9M 101c	SOFR+600 bp	Mar 1, 2029
C•••• R••••••••• S••••••• L••	term loan first lien	$4.9M	$4.9M 101c	SOFR+575 bp	May 10, 2029
M•••;M OpCo. LLC (d/b/a Escalent, Inc.)	term loan first lien	$4.8M	$4.8M 101c	SOFR+600 bp	Apr 9, 2029
W••••••••• H••• F••••••••• L•• (d/b/a Saatva, Inc.)	term loan first lien	$4.7M	$4.7M 101c	SOFR+550 bp	Sep 30, 2027
F••• W•••• H•••••• L••	term loan first lien	$4.3M	$4.4M 102c	SOFR+675 bp	Jul 31, 2029
M•••• S•••••• L•• (d/b/a M•••• S••••• Inc.)	term loan first lien	$4.3M	$4.3M 99c	SOFR+575 bp PIK 4.71%	Aug 30, 2030
I••••• A•••••••• L••	term loan first lien	$4.1M	$4.1M 101c	SOFR+450 bp	Mar 21, 2031
T•• C••• C•••••••••	term loan first lien	$4.0M	$4.1M 102c	SOFR+475 bp	Jan 31, 2031
A•• L•••• P••••••••• L••	term loan first lien	$4.0M	$4.0M 101c	SOFR+550 bp	Apr 16, 2030
P•••• B•••••• L••	term loan first lien	$4.0M	$4.0M 101c	SOFR+575 bp	May 14, 2029
G•• L••••• A••••••••• C•••.	term loan first lien	$3.9M	$3.9M 101c	SOFR+500 bp	Jan 31, 2031
S••••• C••• H•••••••• L••	delayed draw term loan first lien	$3.8M	$3.7M 99c	SOFR+650 bp	Jul 30, 2027
P•••• B•••••• L••	term loan first lien	$3.6M	$3.6M 101c	SOFR+575 bp	May 14, 2029
B•••••• P•••••••• L••	term loan first lien	$3.6M	$3.5M 99c	SOFR+600 bp	Nov 21, 2029
C•••• P••••••• C•. (f/k/a Starco)	term loan second lien	$3.4M	$3.4M 100c	SOFR+550 bp	Mar 16, 2028
P•••••••• L••••••• G••••• L••	term loan first lien	$3.3M	$3.3M 101c	//fasb.org/us-gaap/2025#Base Rate+525 bp	Nov 4, 2030
C•••••• I••.	term loan first lien	$3.5M	$3.3M 94c	SOFR+675 bp PIK 0.25%	May 4, 2029
F•••••• S••••••••• L••	delayed draw term loan first lien	$3.0M	$3.0M 100c	SOFR+675 bp	Dec 15, 2026
B••••• A••••••••• Holdings, LLC	term loan first lien	$2.9M	$2.9M 101c	SOFR+625 bp	Jan 2, 2029
I••••••• H••••• L••	term loan first lien	$2.9M	$2.9M 100c	SOFR+575 bp	Feb 19, 2030
S•••• A•••• H••••••• I••.	delayed draw term loan first lien	$2.8M	$2.9M 102c	//fasb.org/us-gaap/2025#Base Rate+625 bp	Sep 6, 2029
R••• A••••••••• L••	delayed draw term loan first lien	$2.9M	$2.8M 96c	SOFR+550 bp	Jan 2, 2029
T••••••• B•••• L••	term loan first lien	$2.7M	$2.7M 100c	SOFR+475 bp	Mar 11, 2031
T••••••••• B••••• L••	term loan first lien	$2.7M	$2.7M 100c	SOFR+600 bp	Jun 28, 2028
C•••••••• F•••••• H•••••••• L••	term loan first lien	$14.2M	$2.6M 25c	SOFR+850 bp PIK 12.38%	Sep 25, 2029
T•• I••••• P•••••• L••	equity equity	$2,000	$2.5M 77c
I••••••• H••••• L••	term loan first lien	$2.5M	$2.5M 100c	SOFR+575 bp	Feb 19, 2030
P••••••••• G•••• L••	term loan first lien	$6.0M	$2.4M 66c	SOFR+900 bp PIK 12.81%	Jun 29, 2028

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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: WhiteHorse Finance, LLCreported
Latest schedule: 0001104659-26-093465reported