TSLX

healthy

Sixth Street Specialty Lending

Valuation

Price$22.10

NAV / Share$16.98

NAV Discount+30.2%

Portfolio FV$2.4B

Credit Quality

PIK %3.5%

Non-Accrual %0.5%

NII Covers DivYES

Income

Dividend Yield9.3%

SponsorSixth Street Partners

Top Sectors

SoftwareHealthcareBusiness Services

Analysis

Trades at 30% premium to NAV — market rewards consistency. Q4 2025 ROE of 12.7%. $2.05/share total dividends in 2025 (base + supplemental). Non-accrual at 0.5% — among lowest in sector. Sixth Street also owns Talcott Resolution ($126B insurance AUM), providing permanent capital flywheel. Internally managed alignment. Premium valuation creates downside risk if credit cycle turns.

Sponsor

Partners Group$185B AUM