Sixth Street Specialty Lending: Strong Value Despite Market Fears

Sixth Street Lending remains a buy for income investors despite recent net investment income and portfolio contraction. TSLX maintains strong dividend coverage, outperforming BDC peers like ARCC and OBDC, with 108.2% coverage in Q4 and 89% first lien exposure. Shares trade at a 1.07X price-to-NAV ratio, below the three-year average, reflecting sector repricing and market concerns over software loan exposure.

Seeking Alpha • 9 hours ago

Why BDC Dividend Cuts Matter Less Than You Think

System-wide BDC dividend cuts are highly likely as base dividend coverage averages 99% and growth is constrained. As a result, many BDC investors have decided to sit on the sidelines until the expected dividend cuts materialize. The idea is that a cut will lead to a negative share price reaction and thus provide a better opportunity to buy at a bargain price.

Seeking Alpha • 10 hours ago

Sixth Street Specialty Lending: Alpha From Underwriting

Sixth Street Specialty Lending is a differentiated BDC focused on complex, senior secured lending, with strong underwriting and high portfolio yields. TSLX maintains a stable, well-covered dividend, supported by spillover income and prudent risk management, despite sector headwinds and anticipated rate cuts. Approximately 40% of TSLX's portfolio is exposed to software, a sector facing scrutiny, but mitigated by conservative LTVs and management's expertise.

Seeking Alpha • Feb 20, 2026

Sixth Street Specialty Lending: The 9.6% Dividend Yield Could Be Attractive Against Low Nonaccruals Rate

Sixth Street Specialty Lending is paying out a 9.6% base dividend yield that was 115% covered by net investment income in its fourth quarter. The BDC is currently swapping hands at a 13.25% premium to NAV per share of $16.98. This dipped by $0.16 per share sequentially. Nonaccruals came in at 0.6% of TSLX's investment portfolio at fair value, with net funded investment activity negative at $302 million for 2025.

Seeking Alpha • Feb 19, 2026

Sixth Street Specialty: Far From The Beginning Of The End

The past couple of months have provided a solid ground for the TSLX bears to claim victory. The fact that the BDC dropped by almost 5% on the day when the earnings got released easily adds fuel to the discussion of TSLX's demise. Yet, we have to distinguish between valuation contraction and fundamental weakness.

Seeking Alpha • Feb 17, 2026

Sixth Street Specialty Lending, Inc. (TSLX) Q4 2025 Earnings Call Transcript

Sixth Street Specialty Lending, Inc. (TSLX) Q4 2025 Earnings Call Transcript

Seeking Alpha • Feb 13, 2026

Sixth Street Specialty Lending, Inc. Reports Full Year and Fourth Quarter 2025 Earnings Results; Declares a First Quarter Base Dividend Per Share of $0.46, and a Fourth Quarter Supplemental Dividend Per Share of $0.01

NEW YORK--(BUSINESS WIRE)--Sixth Street Specialty Lending, Inc. (NYSE: TSLX, or the “Company”) today reported financial results for the full year and fourth quarter ended December 31, 2025. Please view a printable version of the 2025 Full Year and Fourth Quarter Results. Conference Call Information: A conference call to discuss the Company's financial results will be held at 8:30 a.m. Eastern Time on February 13, 2026. The conference call will be broadcast live in listen-only mode on the Invest.

Business Wire • Feb 12, 2026

Sixth Street (TSLX) Q4 Earnings and Revenues Top Estimates

Sixth Street (TSLX) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.5 per share. This compares to earnings of $0.61 per share a year ago.

Zacks Investment Research • Feb 13, 2026

Sixth St (TSLX) Reports Q4 Earnings: What Key Metrics Have to Say

While the top- and bottom-line numbers for Sixth St (TSLX) give a sense of how the business performed in the quarter ended December 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Zacks Investment Research • Feb 13, 2026

Where the Risk Is in Software Lending

Software stocks are down sharply, but loan pricing has barely moved—leaving Morgan Stanley cautious, with BDCs the most exposed.

Barrons • Feb 10, 2026