Carlyle Secured Lending (CGBD)

• Market cap: $906M
• 1 day: 1.66%
• 5 days: -0.89%
• 1 month: -4.20%
• 3 months: 2.54%
• 6 months: 5.96%
• Year to date: -1.82%
• 1 year: 11.34%
• 5 years: 46.38%
• 10 years: -1.88%

About: Carlyle Secured Lending Inc is a specialty finance company that is a closed-end, externally managed, non-diversified management investment company. It focuses on providing directly originated, financing solutions across the capital structure, with a focus on senior secured lending to middle-market companies located in the United States. The company's investment objective is to generate current income and capital appreciation through debt investments in U.S. middle-market companies.

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

355% more call options, than puts

Call options by funds: $1.15M | Put options by funds: $252K

31% more repeat investments, than reductions

Existing positions increased: 38 | Existing positions reduced: 29

12% more capital invested

Capital invested by funds: $210M [Q3] → $236M (+$25.3M) [Q4]

1.0% more ownership

Funds ownership: 24.92% [Q3] → 25.92% (+1.0%) [Q4]

10% less funds holding

Funds holding: 122 [Q3] → 110 (-12) [Q4]

30% less first-time investments, than exits

New positions opened: 16 | Existing positions closed: 23

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $17 4% downside
• Avg. target: $17 4% downside
• High target: $17 4% downside

2 analyst ratings

• positive: 0 0%
• neutral: 1 50%
• negative: 1 50%

JP Morgan Melissa Wedel 38% 1-year accuracy 5 / 13 met price target	4% downside $17	Underweight Maintained	3 Feb 2025
Wells Fargo Finian O'Shea 65% 1-year accuracy 26 / 40 met price target	4% downside $17	Equal-Weight Maintained	29 Jan 2025