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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Blackstone Secured Lending Fund
Blackstone Secured Lending Fund (BXSL) investor relations material
Blackstone Secured Lending Fund Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 NII was $158.1M, or $0.68/share; annualized NII yield on NAV was 10.7%.
NAV ended at $25.25/share, with total net assets of $5.88B; Q3 total return was 2.2%.
Holdings remained predominantly first-lien and floating-rate, with borrowers generally demonstrating earnings growth.
Financial highlights
Q3 NII was $158.1M versus $189.5M in Q3 2025; investment income was $315.2M, down 12% YoY.
Net income was $117M, or $0.50/share, versus $132M, or $0.57/share, in Q3 2025.
NAV/share fell $0.28 QoQ to $25.25, reflecting $0.19/share of net realized and unrealized losses and $0.09/share by which the dividend exceeded NII.
Interest income excluding PIK, fees and dividends exceeded 94% of investment income; PIK was 5.8% of Q3 investment income.
Outlook and guidance
The $0.77/share Q4 dividend is payable on or about January 22, 2027; the Q1 2027 dividend resets to $0.60/share.
Management expects deal flow to accelerate in H1 2027 as M&A activity reaccelerates; inquiries from M&A advisers rose 30% from two to three months earlier.
Leverage target remains 1.0x–1.25x; management expects portfolio turnover of 15%–20% next year and is considering equity issuance and other growth options.
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Latest events from Blackstone Secured Lending Fund
- Both trustee nominees elected; Deloitte & Touche ratified for FY 2026.BXSL
AGM 2026 - Q2 2026 net investment income was $174M, with $13.4B portfolio and strong repayments.BXSLQ2 2026
- Vote on trustee elections and auditor ratification at the 2026 annual meeting.BXSLProxy filing
- Virtual meeting to elect trustees and ratify auditor, with strong governance and oversight.BXSLProxy filing
- Q4 returns outperformed peers, with disciplined AI-driven strategy and strong liquidity supporting growth.BXSLRaymond James 47th Annual Institutional Investors Conference
- Q1 2026 net investment income covered the dividend, with 11.7% yield and resilient portfolio.BXSLQ1 2026
- Q4 2025 net investment income fully covered the dividend; $250M share repurchase plan approved.BXSLQ4 2025
- Record earnings, highest NAV per share, and strong origination highlight a robust quarter.BXSLQ2 2024
- Record investment income and NAV growth driven by strong credit quality and active deployment.BXSLQ4 2024
Next Blackstone Secured Lending Fund earnings date
Q4 202624 Feb, 2027
Blackstone Secured Lending Fund
Next Blackstone Secured Lending Fund earnings date
Q4 202624 Feb, 2027
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Frequently asked questions
Blackstone Secured Lending Fund is a business development company (BDC) that focuses on providing loans and other debt financing to U.S.-based middle-market companies. The fund primarily invests in senior secured loans, aiming to offer capital solutions to businesses that may not have access to traditional financing sources. Blackstone Secured Lending Fund is managed by Blackstone, a global investment firm, leveraging its extensive expertise in credit markets to support the growth and operational needs of its portfolio companies. The fund serves industries such as manufacturing, healthcare, and technology, among others. The company is headquartered in New York, New York, and its shares are listed on the NYSE.