WhiteHorse Finance(WHF) - 2024 Q4 - Annual Results

Investment Income - For the fourth quarter ended December 31, 2024, total investment income was $21.0 million, a decrease of 8.1% from$ 22.9 million in the previous quarter[3]. - Net investment income for the fourth quarter was $8.0 million, down 12.9% from$ 9.2 million in the prior quarter, resulting in a net investment income per share of $0.343[3]. Investment Portfolio - The fair value of the investment portfolio decreased to$ 642.2 million as of December 31, 2024, down 1.9% from $654.3 million at the end of the previous quarter[4]. - The weighted average effective yield on income-producing debt investments in the portfolio was 12.5%[4]. - The portfolio consisted of 127 positions across 71 companies, with approximately 78.2% in first lien secured loans[4]. Company Investments - During the fourth quarter, WhiteHorse Finance made investments totaling$ 27.4 million in six new portfolio companies and added $8.0 million to existing companies[5]. - WhiteHorse Finance transferred assets totaling$ 13.7 million to STRS JV during the fourth quarter[6]. Distributions and Net Asset Value - The company declared a distribution of $0.385 per share for the fourth quarter, consistent with the previous quarter's distribution[7]. - The net asset value per share decreased to$ 12.31, down 3.6% from $12.77 in the prior quarter[3]. Realized and Unrealized Gains - Net realized losses for the fourth quarter were$ 12.3 million, while net unrealized appreciation was $8.2 million, reflecting a significant change from the previous quarter[3].