)
Edge6 Mar 2026
Upvoted: The Story of Reddit
How Reddit built a unique platform around communities and conversation, turning human insight and intent into a distinctive business model.
Blackstone Secured Lending Fund
Blackstone Secured Lending Fund (BXSL) investor relations material
Blackstone Secured Lending Fund Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary25 Feb, 2026
Executive summary
Reported strong Q4 and full-year 2025 results, with net investment income of $0.80 per share, fully covering the dividend, and new investment activity exceeding $1 billion for the second consecutive quarter.
Portfolio remains primarily first-lien senior secured debt, with 97.6% first lien, 98.4% floating rate exposure, and a defensive focus on large, private equity-owned businesses across diversified industries.
Benefited from a constructive macro environment, resilient corporate earnings, and strong consumer trends.
Board approved a $250 million discretionary share repurchase plan for shares trading below NAV.
Declared a Q1 2026 dividend of $0.77 per share.
Financial highlights
Q4 2025 net investment income was $186 million ($0.80 per share), representing an 11.8% annualized return on equity.
Distribution of $0.77 per share was 104% covered by NII, with an 11.4% annualized distribution yield on NAV.
Net asset value per share at quarter end was $26.92, with total NAV of $6.2 billion.
Full-year net return was 9.6%, outperforming the leveraged loan market by 360 basis points.
Fair value of investments as of December 31, 2025, was approximately $14.2 billion.
Outlook and guidance
Expect continued robust deal activity and portfolio turnover, supported by strong M&A and repayment trends.
Management remains disciplined, leveraging Blackstone’s scale and expertise to drive shareholder value.
Portfolio positioned for resilience with strong credit fundamentals and stable interest coverage ratios.
Anticipate remaining active in direct lending, leveraging $40 billion of dry powder.
Long-term leverage target remains at 1.25x, with near-term management at the high end of the range.
Elaborate on share repurchase strategy
What drives the 8% LTM EBITDA growth?
Why is Q1 2026 dividend lower than NII?
AI infrastructure investment strategy
Capital deployment: buybacks vs. new loans?
Outlook for bottom 10% portfolio assets?
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Next Blackstone Secured Lending Fund earnings date
Q1 20266 May, 2026
Blackstone Secured Lending Fund
Next Blackstone Secured Lending Fund earnings date
Q1 20266 May, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
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.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage