Company: BXSL
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001736035-25-000021
Chunk: 236

Company: Blackstone Secured Lending Fund
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 236
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,419,337 228,424,998 196,003,012 Earnings (loss) per common share (basic and diluted)$0.57 $0.75 $1.91 $2.71 

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Table of ContentsBlackstone Secured Lending FundNotes to Condensed Consolidated Financial Statements(Unaudited)(in thousands, except share amounts, per share data, percentages and as otherwise noted)

Note 11. Financial Highlights and Senior Securities

The following are the financial highlights for the nine months ended September 30, 2025 and 2024: Nine Months Ended September 30, 20252024Per Share Data (1):Net asset value, beginning of period$27.39 $26.66 Net investment income2.43 2.68 Net change in unrealized and realized gain (loss)(0.52)0.03 Net increase (decrease) in net assets resulting from operations1.91 2.71 Distributions from net investment income (2)(2.31)(2.31)Net increase (decrease) in net assets from capital share transactions0.16 0.21 Total increase (decrease) in net assets(0.24)0.61 Net asset value, end of period$27.15 $27.27 Market value, end of period$26.07 $29.29 Shares outstanding, end of period230,957,158 209,034,336 Total return based on NAV (3)7.4 %10.4 %Total return based on market value (4)(12.9)%14.7 %Ratios:Ratio of net expenses to average net assets (5)10.6 %11.1 %Ratio of net investment income to average net assets (5)11.7 %13.1 %Portfolio turnover rate12.1 %5.3 %Supplemental Data:Net assets, end of period$6,269,576$5,700,667Asset coverage ratio181.7 %189.0 %(1)The per share data was derived by using the weighted average shares outstanding during the period.(2)The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 9).(3)Total return is calculated as the change in NAV per share during the period