CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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WhiteHorse Finance, Inc. (WHF)

BDC - Debt Focused BDC

Data as of Oct. 21, 2021
Market Price $15.15 (- $1.07)
NAV (June 30, 2021) $15.42 ( $0.00)
Premium / Discount -1.75% (-6.94%)
Fund Info
Inception Feb. 25, 1992
Sponsor H.I.G. Capital
Website http://phx.corporate-i...
Phone (305) 381-6999
Location Florida
Incorporated Delaware
Staggered Board Yes
Objective: Attractive risk-adjusted returns; senior secured loans
Related Indexes
High Income Index
Capital & Leverage
Outstanding Shares 20,841,977
Total Assets (Reported: June 30, 2021) $699M
Estimated Total Assets $669M
Net Assets $321M
Market Cap $316M
Portfolio Turnover 57.86%
Debt-to-Equity 1.1372
Total Leverage 51.94%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 14.22%
Non Lev Exp Ratio 9.40%
Gross Asset Expense Ratio 6.43%
Gross Asset Non Lev Exp Ratio 4.25%
Rel Lev Cost 4.19%
Discount Data
Average Discount (3 Yr) -12.68%
Discount Low(3 Yr) -60.08%
Discount High(3 Yr) 9.36%
Discount Rel Range 83.99%
Comp Discount -6.84
Discount St Dev (1Yr) 8.92
Z-Stat (6mo) -1.25
Z-Stat (1Yr) 0.26
Z-Stat (3Yr) 0.86
Comp Z-Stat (6mo) -1.91
Comp Z-Stat (3Yr) -0.13
Distribution Data
Market Yield 9.37%
Income Yield 2.53%
Lev Adj NAV Yield 6.06%
Av Yield on Debt Investments 9.50
Distribution Frequency Q
Current Distribution $0.355
Current Income $0.096
Ex-Date 9/17/21
Payable Date 10/4/21
Div Growth (3yr) 0.00%
Dividend Change 228.7% on 2/27/13
Expected Div 11/9/21
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Tax Dividend Data 2020 2018 - 2020
Income 83.2% 62.5%
ST Gains 0% 0%
QDI 0% 0%
LT Gains 16.8% 37.5%
RoC 0% 0%
Volume & Liquidity
Average Daily $ (M) $959
Avg Volume 30 day 89,794
Avg Volume 90 day 63,305
Volume Trend 41.84%
Comp Volume Trend 43.74%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's BDC Index
Most Correlated Peer (Mk Pr): PFLT 81.0%
Price St Dev (1Yr) 23.6%
NAV St Dev (1Yr) 1.1%
Earnings / Share (6/30/21) $0.294
Adj Core NII Coverage 94.91%
1 Yr Avg NII Coverage 90.65%
1 Yr Avg Adj Core NII Coverage 101.34%
NII Trend 6.41%
Adj Core NII Trend -2.16%
Price Beta (2yr)
vs. S&P 500 (TR)
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
Portfolio Data
Avg Libor Floor % 1.08%
% Loans with Libor Floor 87%


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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