1. TSLX offers a 10% dividend yield with strong fundamentals, but recent performance has lagged, delivering a YTD total return of just 1.4%; 2. Q3 2024 results show a slight decline in net investment income and NAV, with distribution coverage at 109%, raising concerns about dividend sustainability; 3. Despite solid fundamentals, the thin margin of safety prompts a downgrade to hold due to concerns over future dividend sustainability.