Oaktree Strategic Credit Fund Q1 NAV drops to $22.38; annualized dist. rate 8.58%

Oaktree Strategic Credit Fund

NAV per share fell 2.4% to $22.38 from $22.93 at Dec 31, 2025; net return for Class I shares was -0.14%.
Net leverage at 0.57x; expanded RCF by $400M; adjusted liquidity of $2.1B (~50% of net assets).
92.7% of investments are senior secured; 93.8% floating-rate debt; non-accruals <1 bp of portfolio fair value.
New funded investments of $674M in the quarter, including 10 private loan originations.
Software exposure assessed for AI risk with only 1% of portfolio in high-disruption category.

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