WhiteHorse Finance Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqGS:WHF Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
08 Apr 25	BuyUS$199,886	John Bolduc	Individual	22,360	US$8.94
13 Aug 24	BuyUS$199,732	John Bolduc	Individual	17,390	US$11.50
29 May 24	SellUS$12,150,000	Bayside Capital, Inc.	Company	1,000,000	US$12.15

Insider Trading Volume

Insider Buying: WHF insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of WHF?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	1,020,568	4.39%
Institutions	3,840,001	16.5%
VC/PE Firms	3,976,258	17.1%
General Public	14,406,261	62%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 34.73% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
17.1%	Bayside Capital, Inc.	3,976,258	US$36.8m	0%	100.0%
4.36%	Sound Income Strategies, LLC	1,013,374	US$9.4m	4.98%	0.62%
2.03%	John Bolduc	472,515	US$4.4m	4.97%	no data
1.99%	Anthony Tamer	462,846	US$4.3m	0.38%	no data
1.38%	Two Sigma Advisers, LP	319,652	US$3.0m	8.48%	0.01%
0.91%	Two Sigma Investments, LP	211,790	US$2.0m	19.5%	no data
0.89%	Sierra Crest Investment Management LLC	207,328	US$1.9m	0%	14.22%
0.71%	Advisors Asset Management, Inc.	165,419	US$1.5m	-14.3%	0.03%
0.68%	Legal & General Investment Management Limited	158,098	US$1.5m	-2.26%	no data
0.56%	Millennium Management LLC	129,981	US$1.2m	172%	no data
0.52%	Basso Capital Management, L.P.	120,138	US$1.1m	-1.64%	1.0%
0.36%	Gables Capital Management Inc	82,931	US$767.9k	-0.21%	0.38%
0.34%	BlackRock, Inc.	78,631	US$728.1k	5.75%	no data
0.33%	Independent Advisor Alliance, LLC	75,925	US$703.1k	0%	0.01%
0.32%	Citadel Advisors LLC	74,778	US$692.4k	0%	no data
0.3%	Royal Bank of Canada, Banking & Securities Investments	70,566	US$653.4k	-1.82%	no data
0.29%	Thrivent Trust Company, Asset Management Arm	66,782	US$618.4k	22.6%	0.01%
0.26%	Connor, Clark & Lunn Investment Management Ltd.	60,839	US$563.4k	2.5%	no data
0.21%	Tidal Investments LLC	49,460	US$458.0k	2.3%	no data
0.21%	Virtus ETF Advisers LLC	49,129	US$454.9k	-36.1%	0.17%
0.2%	Morgan Stanley, Investment Banking and Brokerage Investments	46,975	US$435.0k	-7.87%	no data
0.2%	Cambridge Investment Research Advisors, Inc.	45,799	US$424.1k	26.9%	no data
0.19%	Squarepoint OPS LLC	45,102	US$417.6k	-7.83%	no data
0.19%	Qube Research & Technologies Ltd	44,589	US$412.9k	23.1%	no data
0.19%	Susquehanna International Group, LLP, Asset Management Arm	44,135	US$408.7k	258%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/11 17:24
End of Day Share Price	2025/05/09 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

WhiteHorse Finance, Inc. is covered by 12 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Bryce Rowe	Baird
Kannan Venkateshwar	Barclays
Vernon Plack	BB&T Capital Markets