WhiteHorse Finance(WHF) - 2024 Q3 - Quarterly Results

Financial Performance - For the quarter ended September 30, 2024, WhiteHorse Finance reported total investment income of $22.9 million, a decrease of 2.7% from$ 23.5 million in the previous quarter[3] - The net investment income for the same period was $9.2 million, down 1.5% from$ 9.3 million in the prior quarter, resulting in a net investment income per share of $0.394[3] - The fair value of the investment portfolio decreased to$ 654.3 million from $660.0 million, reflecting a decline of 0.9%[4] - Net realized gains for the quarter were$ 39, a significant improvement compared to a loss of $93 in the previous quarter[3] Investment Activity - The company made new investments totaling$ 49.0 million in seven new portfolio companies during the quarter[5] - The company transferred assets totaling $15.1 million to STRS JV in exchange for cash proceeds during the quarter[6] Portfolio Composition - The portfolio consisted of 129 positions across 73 companies, with a weighted average effective yield of 10.6% on income-producing debt investments[4] - The overall portfolio comprised approximately 79.0% first lien secured loans, indicating a strong focus on secured investments[4] Distribution - WhiteHorse Finance declared a quarterly distribution of$ 0.385 per share for the quarter ended September 30, 2024, payable on January 3, 2025[7] Market Strategy - WhiteHorse Finance continues to focus on segments of the lending market where it believes it has a competitive advantage, despite challenges in the broader lending market[2]