Florida-based WhiteHorse Finance has announced its financial results for the first quarter, that ended on March 31, 2026. In addition, the company’s board of directors has declared a distribution of USD 0.25 per share with respect to the quarter. The distribution will be payable on July 6, 2026, to stockholders of record as of May 21, 2026.
Stuart Aronson, WhiteHorse Finance’s chief executive officer, commented, “During the first quarter, we continued to execute on the priorities we outlined last quarter, including actively managing previously identified credit situations, maintaining discipline in new originations, and repurchasing shares at a significant discount to NAV. While our results reflected anticipated portfolio markdowns, the majority of our portfolio remained stable, and share repurchases were accretive to book value. We remain focused on preserving liquidity, managing risk, and investing selectively. Our priority is to protect shareholder value while positioning the portfolio for improved performance over time.”
As of March 31, 2026, the fair value of WhiteHorse Finance’s investment portfolio was USD 543.0 million, compared with USD 578.6 million as of December 31, 2025. The portfolio as of March 31, 2026, consisted of 128 positions across 65 companies with a weighted average effective yield of 10.8% on income-producing debt investments.
The average debt investment size (excluding investments in STRS JV (as defined below)) was USD 4.8 million, with the overall portfolio comprised of approximately 72.7% first lien secured loans, 0.9% second lien secured loans, 0.2% unsecured loans, 6.7% equity and 19.5% in investments in STRS JV. Almost all loans were variable rate investments (primarily indexed to the Secured Overnight Financing Rate), with fixed rate securities representing only 1.4% of loans at fair value. Nearly all performing floating-rate investments have interest rate floors.
During the three months ended March 31, 2026, WhiteHorse Finance made investments in three new portfolio companies for a total of USD 18.5 million, added a total of USD 6.9 million to existing portfolio companies and provided net funding of USD 0.7 million to revolver loans.