Monitor the effectiveness of the $250 million share repurchase program and track whether NII can stabilize or grow in future quarters. Watch for changes in portfolio yield and credit quality metrics.
Price Chart
Executive Summary
Blackstone Secured Lending Fund (BXSL) reported strong fourth-quarter 2025 results with net investment income (NII) of $0.80 per share, covering its $0.77 dividend. The portfolio remains well-positioned with stable credit fundamentals, including a low non-accrual rate and strong interest coverage. The company also announced a $250 million share repurchase program at prices below net asset value (NAV).
Key Financial Metrics
Key Facts
- Net investment income (NII) was $0.80 per share in Q4 2025, down from $0.82 per share in Q3 2025 and $0.84 per share in Q4 2024
- Regular dividend declared at $0.77 per share, representing 104% dividend coverage
- Net asset value (NAV) per share declined to $26.92 from $27.15 in Q3 2025
- Weighted average yield on performing debt investments decreased to 9.6% from 10.0% in Q3 2025
- Board approved a $250 million discretionary share repurchase program at prices below NAV
- New investment fundings were $1.0 billion, with proceeds from sales and repayments of $0.6 billion
Financial Impact
NII decreased by 2.4% QoQ and 4.8% YoY, NAV per share decreased by 0.9% QoQ
Risk Factors
- Declining NII per share trend (down from $0.84 in Q4 2024 to $0.80 in Q4 2025)
- Decreasing portfolio yield (from 10.4% in Q4 2024 to 9.6% in Q4 2025)
- NAV per share erosion (down from $27.39 in Q4 2024 to $26.92 in Q4 2025)
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-020083 |
| Document: ea0277994-8k_blackstone.htm | 0001213900-26-020083 |
| Document: 0001213900-26-020083-index-headers.html | 0001213900-26-020083 |
| Document: 0001213900-26-020083-index.html | 0001213900-26-020083 |
| Document: 0001213900-26-020083.txt | 0001213900-26-020083 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 15, 2026 10w ago | Institutional Cluster | $24.21 $24.65 | ▲ +1.82% | ▲ +3.34% | $22.91 (−5.37%) |
Jun 29, 2026 17w ago | DEFA14A | $23.71 $23.00 | ▼ −2.99% | ▼ −1.97% | $22.91 (−3.37%) |
May 21, 2026 22w ago | 8-K | $23.33 $23.43 | ▲ +0.43% | ▲ +1.84% | $22.91 (−1.80%) |
May 7, 2026 24w ago | 8-K | $24.36 $23.26 | ▲ +4.52% | ▲ +7.65% | $22.91 (+5.95%) |
Mar 11, 2026 32w ago | Insider Cluster | $23.71 $23.13 | ▼ −2.45% | ▼ −4.46% | $22.91 (−3.37%) |
Feb 25, 2026 34w ago | 8-K | $23.85 $23.36 | ▼ −2.07% | ▲ +3.17% | $22.91 (−3.95%) |
US Market Status
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