Sixth Street Specialty Lending
Inside Sixth Street Specialty Lending’s $3.5B private-credit portfolio — 218 portfolio holdings disclosed in SEC filings.
Filing Information
Portfolio Composition
Portfolio-wide breakdown by fair value across this BDC’s full Schedule of Investments. Source: SEC EDGAR (public).
Top Portfolio Holdings
| Company | Sector | Investment | Coupon | Maturity | Cost | Fair Value |
|---|---|---|---|---|---|---|
| IRGSE Holding Corp | — | $58,505,000 | ||||
| Structured Credit Partners JV, LLC | — | $14,665,000 | ||||
| Investments Healthcare Merative Topco L.P. Class A-1 Units (989,691 units) Initial Acquisition Date 6/30/2022 | Equity | $9,897,000 | $13,880,000 | |||
| Investments Healthcare Caris Life Sciences, Inc. Common Shares (714,020 shares) Initial Acquisition Date 6/20/2025 | Equity | $8,254,000 | $12,767,000 | |||
| Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest Common Units (8,837,008 units) Initial Acquisition Date 10/1/2021 | Equity | $8,837,000 | $12,526,000 | |||
| (1.89% ownership) Initial Acquisition Date 8/25/2022 | Partnership Interest | $8,926,000 | $11,916,000 | |||
| Investments Financial Services Newport Parent Holdings, L.P. Class A-2 Units (131,569 units) Initial Acquisition Date 12/10/2020 | Equity | $4,177,000 | $11,027,000 | |||
| Investments Retail and Consumer Products Copper Bidco, LLC Trust Certificates (996,958 Certificates) Initial Acquisition Date 1/30/2021 | Equity | $1,083,000 | $10,767,000 | |||
| Investments Marketing Services Validity, Inc. Series A Preferred Shares (3,840,000 shares) Initial Acquisition Date 5/31/2018 | Equity | $3,840,000 | $9,024,000 | |||
| Investments Internet Services Khoros, LLC Earnout Interests Initial Acquisition Date 5/23/2025 | Equity | $7,614,000 | $7,176,000 | |||
| Investments Human Resource Support Services Employment Hero Holdings Pty Ltd. Series E Preferred Shares (113,250 shares) Initial Acquisition Date 3/1/2022 | Equity | $2,134,000 | $5,970,000 | |||
| Investments Pharmaceuticals Elysium BidCo Limited Convertible Preference Shares (4,976,563 Shares) Initial Acquisition Date 12/11/2024 | Equity | $6,341,000 | $5,225,000 | |||
| Investments Transportation Ranger Parent I, Inc. Series A-1 Preferred Shares (5,639 Shares) Initial Acquisition Date 10/28/2025 | Equity | 14.50% Interest Rate 14.50% PIK (PIK 14.50%) | $5,362,000 | $5,103,000 | ||
| Investments Internet Services Bayshore Intermediate #2, L.P. Co-Invest 2 Common Units (3,493,701 units) Initial Acquisition Date 10/1/2021 | Equity | $3,494,000 | $4,952,000 | |||
| Structured Credit Investments Goldentree Loan Management US CLO Ltd, Series 2022 -16A Structured Credit ($5,000 par, due 1/2038) Initial Acquisition Date 9/16/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 4.50% | $4,974,000 | $4,843,000 | |||
| Structured Credit Investments Madison Park Funding Ltd, Series 2025 -72A Structured Credit ($2,500 par, due 7/2038) Initial Acquisition Date 8/18/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.25% | $4,550,000 | $4,359,000 | |||
| Structured Credit Investments Lake George Park CLO Ltd, Series 2025 -1A Structured Credit ($4,500 par, due 4/2038) Initial Acquisition Date 8/27/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 4.60% | $4,500,000 | $4,357,000 | |||
| Structured Credit Investments Madison Park Funding Ltd, Series 2025 -65A Structured Credit ($4,400 par, due 7/2038) Initial Acquisition Date 8/19/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.00% | $4,408,000 | $4,219,000 | |||
| Structured Credit Investments Riverbank Park CLO Ltd, Series 2024 -1A Structured Credit ($4,500 par, due 1/2038) Initial Acquisition Date 7/29/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 4.80% | $4,528,000 | $4,121,000 | |||
| Structured Credit Investments Apidos CLO, Series 2015-23A Investment Structured Credit ($4,000 par, due 4/2033) Initial Acquisition Date 9/3/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.20% | $4,015,000 | $3,931,000 | |||
| Structured Credit Investments Neuberger Berman CLO Ltd, Series 2017 -16SA Structured Credit ($4,000 par, due 4/2039) Initial Acquisition Date 7/28/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 4.90% | $4,009,000 | $3,859,000 | |||
| Structured Credit Investments CIFC Funding Ltd, Series 2020 -4A Structured Credit ($4,000 par, due 1/2040) Initial Acquisition Date 7/29/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 4.90% | $4,026,000 | $3,856,000 | |||
| Investments Financial Services AF Eagle Parent, L.P. Partnership Units (121,329 units) Initial Acquisition Date 11/27/2023 | Equity | $4,091,000 | $3,815,000 | |||
| Structured Credit Investments Palmer Square CLO Ltd, Series 2021 -4 Structured Credit ($4,000 par, due 7/2038) Initial Acquisition Date 9/16/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 5.75% | $4,036,000 | $3,722,000 | |||
| Structured Credit Investments Oaktree CLO Ltd, Series 2022 -2A Structured Credit ($3,500 par, due 10/2037) Initial Acquisition Date 7/17/2025 | http://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMember + 6.40% | $3,541,000 | $3,411,000 |
Loan-Pricing Trend
Fair-value-weighted average credit spread and average mark across this BDC’s Schedule-of-Investments debt holdings, by filing quarter. Spread and mark are shown in the units reported in the filing. Source: SEC EDGAR (public).
| Quarter | Priced Loans | Wtd-Avg Spread | Avg Mark | Debt Fair Value |
|---|---|---|---|---|
| 2022-06-30 | 0 | — | — | $1M |
| 2022-09-30 | 0 | — | — | $1M |
| 2022-12-31 | 0 | — | — | $606K |
| 2023-03-31 | 26 | 7.12 | — | $2M |
| 2023-06-30 | 0 | — | — | $2M |
| 2023-09-30 | 5 | 4.86 | — | $4M |
| 2023-12-31 | 6 | 5.16 | — | $4M |
| 2024-03-31 | 6 | 5.17 | — | $5M |
| 2024-06-30 | 4 | 6.37 | — | $48M |
| 2024-09-30 | 2 | 6.50 | — | $2M |
| 2024-12-31 | 2 | 6.54 | — | $2M |
| 2025-03-31 | 1 | 1.15 | — | $59K |
| 2025-06-30 | 1 | 1.15 | — | $67M |
| 2025-09-30 | 38 | 5.55 | — | $166M |
| 2025-12-31 | 37 | 5.54 | — | $156M |
| 2026-03-31 | 37 | 5.53 | — | $167M |
Marks reflect each BDC’s own fair-value estimates as reported to the SEC, not traded prices. Private-credit loans are predominantly Level 3 under ASC 820 — valued from unobservable inputs and determined in good faith by each BDC’s board, so figures are estimates as of the filing date and are not directly comparable across managers. Informational only; not investment advice or a valuation.
About Sixth Street Specialty Lending
Sixth Street Specialty Lending (TSLX) is a publicly traded Business Development Company (BDC) — essentially a publicly listed fund that lends money to mid-sized private companies. In plain English: BDCs raise money from public investors and lend it to businesses that are too small for Wall Street banks. By law, they must pay out at least 90% of their profits as dividends, which is why BDC yields are often 8–12%. Sixth Street Specialty Lending discloses its full loan portfolio through SEC filings.
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