obdc-20240930

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________________________

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from_______to

Commission File Number 814-01190

______________________________________________

BLUE OWL CAPITAL CORPORATION

(Exact name of Registrant as specified in its Charter)


Maryland						47-5402460
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

399 Park Avenue, New York, New York						10022
(Address of principal executive offices)						(Zip Code)

Registrant’s telephone number, including area code: (212) 419-3000

______________________________________________

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value per share	OBDC	The New York Stock Exchange

______________________________________________

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ NO ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ NO ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒

As of November 6, 2024, the registrant had 390,217,304 shares of common stock, $0.01 par value per share, outstanding.

Table of Contents


		Page
PART I	FINANCIAL INFORMATION
Item 1.	Consolidated Financial Statements	3
	Consolidated Statements of Assets and Liabilities as of September 30, 2024 (Unaudited) and December 31, 2023	3
	Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited)	4
	Consolidated Schedules of Investments as of September 30, 2024 (Unaudited) and December 31, 2023	5
	Consolidated Statements of Changes in Net Assets for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited)	61
	Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited)	62
	Notes to Consolidated Financial Statements (Unaudited)	64
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	124
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	189
Item 4.	Controls and Procedures	190

PART II	OTHER INFORMATION
Item 1.	Legal Proceedings	191
Item 1A.	Risk Factors	191
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	191
Item 3.	Defaults Upon Senior Securities	191
Item 4.	Mine Safety Disclosures	191
Item 5.	Other Information	191
Item 6.	Exhibits	192
Signatures		193

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about Blue Owl Capital Corporation (the “Company,” “we” or “our”), our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

•an economic downturn could impair our portfolio companies’ ability to continue to operate, which could lead to the loss of some or all of our investments in such portfolio companies;

•an economic downturn could disproportionately impact the companies that we intend to target for investment, potentially causing us to experience a decrease in investment opportunities and diminished demand for capital from these companies;

•the impact of elevated interest and inflation rates, ongoing supply chain and labor market disruptions, including those as a result of strikes, work stoppages or accidents, instability in the U.S. and international banking systems, uncertainties related to the 2024 U.S. presidential election, and the risk of recession or a shutdown of government services could impact our business prospects and the prospects of our portfolio companies;

•an economic downturn could also impact availability and pricing of our financing and our ability to access the debt and equity capital markets;

•a contraction of available credit and/or an inability to access the equity markets could impair our lending and investment activities;

•changes in base interest rates and significant market volatility on our business and our portfolio companies (including our business prospects and the prospects of our portfolio companies including the ability to achieve our and their business objectives), our industry and the global economy including as a result of ongoing supply chain disruptions;

•interest rate volatility could adversely affect our results, particularly because we use leverage as part of our investment strategy;

•currency fluctuations could adversely affect the results of our investments in foreign companies, particularly to the extent that we receive payments denominated in foreign currency rather than U.S. dollars;

•our future operating results;

•our contractual arrangements and relationships with third parties;

•the ability of our portfolio companies to achieve their objectives;

•competition with other entities and our affiliates for investment opportunities;

•risks related to the uncertainty of the value of our portfolio investments, particularly those having no liquid trading market;

•the use of borrowed money to finance a portion of our investments as well as any estimates regarding potential use of leverage;

•the adequacy of our financing sources and working capital;

•the loss of key personnel;

•the timing of cash flows, if any, from the operations of our portfolio companies;

•the ability of Blue Owl Credit Advisors LLC (“the Adviser” or “our Adviser”) to locate suitable investments for us and to monitor and administer our investments;

•the ability of the Adviser to attract and retain highly talented professionals;

•our ability to qualify for and maintain our tax treatment as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”);

•the impact that environmental, social and governance matters could have on our brand and reputation and our portfolio companies;

•the effect of legal, tax and regulatory changes;

•the impact of information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity attacks, and the increasing use of artificial intelligence and machine learning technology;

•the impact of geo-political conditions, including revolution, insurgency, terrorism or war, including those arising out of the ongoing war between Russia and Ukraine and the escalated conflict in the Middle-East, including the Israel-Hamas conflict, and general uncertainty surrounding the financial and political stability of the United States, the United Kingdom, the European Union and China, on financial market volatility, global economic markets, and various markets for commodities globally such as oil and natural gas;

•the ability of the parties to consummate the proposed transactions that will result in Blue Owl Capital Corporation III (“OBDE”) merging with and into the Company (the “Mergers”) pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), dated August 7, 2024, among the Company, OBDE, Cardinal Merger Sub, Inc., a Maryland corporation and wholly owned subsidiary of the Company (“Merger Sub”) and, solely for the limited purposes set forth therein, the Adviser and Blue Owl Diversified Credit Advisers LLC, a Delaware limited liability company and investment advisor to OBDE (“ODCA”), on the expected timeline, or at all;

•the ability to realize the anticipated benefits of the Mergers;

•the effects of disruption on our business from the Mergers;

•the combined company’s plans, expectations, objectives and intentions as a result of the Mergers;

•any potential termination of the Merger Agreement;

•the actions of our shareholders or the shareholders of OBDE with respect to the proposals submitted for their approval in connection with the Mergers;

•the possibility that competing offers or acquisitions proposals will be made;

•risk that stockholders litigation in connection with Mergers may result in significant costs of defense and liability; and

•other risks, uncertainties and other factors previously identified in the reports and other documents we have filed with the Securities and Exchange Commission (“SEC”).

Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. These forward-looking statements apply only as of the date of this report. Moreover, we assume no duty and do not undertake to update the forward-looking statements. Because we are an investment company, the forward-looking statements and projections contained in this report are excluded from the safe harbor protection provided by Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”).

PART I. FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

Blue Owl Capital Corporation

Consolidated Statements of Assets and Liabilities

(Amounts in thousands, except share and per share amounts)


	September 30, 2024 (Unaudited)		December 31, 2023
Assets
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $11,729,785 and $11,271,962, respectively)	$	11,710,694	$	11,264,956
Non-controlled, affiliated investments (amortized cost of $97,711 and $19,004, respectively)	98,967		19,988
Controlled, affiliated investments (amortized cost of $1,572,894, and $1,341,236, respectively)	1,637,875		1,428,404
Total investments at fair value (amortized cost of $13,400,390 and $12,632,202, respectively)	13,447,536		12,713,348
Cash (restricted cash of $54,553 and $87,067, respectively)	479,477		658,702
Foreign cash (cost of $1,826 and $946, respectively)	1,838		956
Interest receivable	121,082		112,260
Receivable from a controlled affiliate	24,244		22,978
Prepaid expenses and other assets	16,603		3,152
Total Assets	$	14,090,780	$	13,511,396
Liabilities
Debt (net of unamortized debt issuance costs of $80,810 and $81,492, respectively)	$	7,741,075	$	7,077,088
Distribution payable	144,380		136,407
Management fee payable	49,264		47,711
Incentive fee payable	39,224		42,217
Payables to affiliates	10,719		3,835

Accrued expenses and other liabilities	144,269		182,745
Total Liabilities	8,128,931		7,490,003
Commitments and contingencies (Note 7)
Net Assets
Common shares $0.01 par value, 500,000,000 shares authorized; 390,217,304 and 389,732,868 shares issued and outstanding, respectively	3,902		3,897
Additional paid-in-capital	5,931,419		5,924,002
Accumulated undistributed (overdistributed) earnings	26,528		93,494
Total Net Assets	5,961,849		6,021,393
Total Liabilities and Net Assets	$	14,090,780	$	13,511,396
Net Asset Value Per Share	$	15.28	$	15.45

The accompanying notes are an integral part of these consolidated financial statements.

Blue Owl Capital Corporation

Consolidated Statements of Operations

(Amounts in thousands, except share and per share amounts)

(Unaudited)


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Investment Income
Investment income from non-controlled, non-affiliated investments:
Interest income	$	299,598	$	307,701	$	881,408	$	894,371
Payment-in-kind (“PIK”) interest income	45,561		40,925		131,068		128,783
Dividend income	17,115		17,324		54,764		52,764

Other income	5,326		2,332		16,627		12,539
Total investment income from non-controlled, non-affiliated investments	367,600		368,282		1,083,867		1,088,457
Investment income from non-controlled, affiliated investments:
Interest income	471		—		579		—
Payment-in-kind (“PIK”) interest income	180		—		312		—
Dividend income	12		36		74		213
Other Income	11		—		11		—
Total investment income from non-controlled, affiliated investments	674		36		976		213
Investment income from controlled, affiliated investments:
Interest income	7,589		5,717		22,760		13,944
Payment-in-kind (“PIK”) interest income	359		773		1,062		773
Dividend income	29,627		24,032		93,151		66,720
Other Income	180		182		550		760
Total investment income from controlled, affiliated investments	37,755		30,704		117,523		82,197
Total Investment Income	406,029		399,022		1,202,366		1,170,867
Expenses
Interest expense	121,273		110,445		349,527		324,416
Management fees	49,264		47,796		144,512		143,911
Performance based incentive fees	39,224		40,314		118,111		117,640
Professional fees	3,476		3,890		11,185		11,697
Directors’ fees	320		445		960		960
Other general and administrative	4,001		3,349		10,051		9,158


Total Operating Expenses	217,558		206,239		634,346		607,782
Net Investment Income (Loss) Before Taxes	188,471		192,783		568,020		563,085
Income tax expense (benefit), including excise tax expense (benefit)	3,559		2,730		11,209		8,495
Net Investment Income (Loss) After Taxes	$	184,912	$	190,053	$	556,811	$	554,590
Net Realized and Change in Unrealized Gain (Loss)
Net change in unrealized gain (loss):
Non-controlled, non-affiliated investments	$	33,552	$	22,371	$	(32,267)	$	91,855
Non-controlled, affiliated investments	(143)		507		251		502
Controlled, affiliated investments	(24,132)		(2,076)		(22,187)		14,113
Translation of assets and liabilities in foreign currencies	(2,321)		(2,292)		7,917		278
Income tax (provision) benefit	(1,178)		(1,521)		(1,188)		(4,217)
Total Net Change in Unrealized Gain (Loss)	5,778		16,989		(47,474)		102,531
Net realized gain (loss):
Non-controlled, non-affiliated investments	(55,368)		235		(60,408)		353
Non-controlled, affiliated investments	—		—		—		(52,482)
Foreign currency transactions	36		(339)		(8,834)		(647)
Total Net Realized Gain (Loss)	(55,332)		(104)		(69,242)		(52,776)
Total Net Realized and Change in Unrealized Gain (Loss)	(49,554)		16,885		(116,716)		49,755
Net Increase (Decrease) in Net Assets Resulting from Operations	$	135,358	$	206,938	$	440,095	$	604,345
Earnings Per Share - Basic and Diluted	$	0.35	$	0.53	$	1.13	$	1.55
Weighted Average Shares Outstanding - Basic and Diluted	390,217,304		389,703,612		390,018,665		390,223,606

The accompanying notes are an integral part of these consolidated financial statements.

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units		Amortized Cost(2)(3)		Fair Value		Percentage of Net Assets
Non-controlled/non-affiliated portfolio company investments
Debt Investments
Advertising and media
Broadcast Music, Inc. (fka Otis Merger Sub, Inc.)(13)(27)	First lien senior secured loan	S +	5.75%	2/2030	$	26,763	$	26,148	$	26,495	0.4	%
Broadcast Music, Inc. (fka Otis Merger Sub, Inc.)(10)(23)(27)	First lien senior secured revolving loan	S +	5.75%	2/2030	—		(109)		(49)		—	%
Global Music Rights, LLC(14)(27)	First lien senior secured loan	S +	5.50%	8/2030	59,450		58,374		59,450		1.0	%
Global Music Rights, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	8/2029	—		(61)		—		—	%
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(13)(27)	First lien senior secured loan	S +	5.00%	12/2028	19,290		19,290		19,290		0.3	%
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(10)(13)(27)	First lien senior secured revolving loan	S +	5.00%	12/2027	846		846		846		—	%
Monotype Imaging Holdings Inc.(14)(27)	First lien senior secured loan	S +	5.50%	2/2031	114,144		113,338		113,573		1.9	%
Monotype Imaging Holdings Inc.(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.50%	2/2026	—		(33)		—		—	%
Monotype Imaging Holdings Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	2/2030	—		(97)		(72)		—	%
							217,696		219,533		3.6	%
Aerospace and defense
Aviation Solutions Midco, LLC (dba STS Aviation)(14)(27)	First lien senior secured loan	S +	7.25%	1/2026	235,332		235,071		240,039		4.0	%
Peraton Corp.(6)(14)(27)	Second lien senior secured loan	S +	7.75%	2/2029	45,899		45,451		42,975		0.7	%
Valence Surface Technologies LLC(14)(27)	First lien senior secured loan	S +	7.75% (3.88% PIK)	12/2026	145,003		144,735		135,215		2.3	%
Valence Surface Technologies LLC(10)(14)(27)	First lien senior secured revolving loan	S +	7.75% (3.88% PIK)	12/2026	11,679		11,661		10,888		0.2	%
							436,918		429,117		7.2	%
Asset based lending and fund finance
Hg Genesis 8 Sumoco Limited(22)(27)(29)	Unsecured facility	SA +	7.00% PIK	9/2027	£11,635		14,691		15,606		0.3	%
Hg Genesis 9 SumoCo Limited(19)(27)(29)	Unsecured facility	E +	7.00% PIK	3/2027	€ 52,781		57,811		58,907		1.0	%
Hg Saturn Luchaco Limited(22)(27)(29)	Unsecured facility	SA +	7.50% PIK	3/2026	£43,073		54,974		57,776		1.0	%
							127,476		132,289		2.3	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Automotive services
Spotless Brands, LLC(14)(27)	First lien senior secured loan	S +	5.75%	7/2028	47,633	46,970	47,514	0.8	%
Spotless Brands, LLC(10)(13)(27)	First lien senior secured revolving loan	S +	5.75%	7/2028	783	766	780	—	%
						47,736	48,294	0.8	%
Buildings and real estate
Associations, Inc.(14)(27)	First lien senior secured loan	S +	6.50%	7/2028	358,050	357,711	358,049	6.0	%
Associations, Inc.(10)(23)(27)	First lien senior secured delayed draw term loan	S +	6.50%	7/2028	—	(25)	—	—	%
Associations, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	6.50%	7/2028	—	(20)	—	—	%
Associations Finance, Inc.(17)(27)	Unsecured notes		14.25% PIK	5/2030	139,030	138,049	139,030	2.3	%
RealPage, Inc.(6)(13)(27)	Second lien senior secured loan	S +	6.50%	4/2029	34,500	34,159	33,044	0.6	%
						529,874	530,123	8.9	%
Business services
Aurelia Netherlands Midco 2 B.V.(20)(27)(29)	First lien senior secured EUR term loan	E +	5.75%	5/2031	€ 50,193	52,597	55,598	0.9	%
CIBT Global, Inc.(11)(14)(27)	First lien senior secured loan	S +	5.25% (4.25% PIK)	6/2027	973	588	477	—	%
CIBT Global, Inc.(11)(18)(27)	Second lien senior secured loan	P +	7.75% PIK	12/2027	63,678	26,669	—	—	%
Denali BuyerCo, LLC (dba Summit Companies)(14)(27)	First lien senior secured loan	S +	5.50%	9/2028	52,346	51,881	52,346	0.9	%
Denali BuyerCo, LLC (dba Summit Companies)(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	9/2027	—	(15)	—	—	%
Diamondback Acquisition, Inc. (dba Sphera)(13)(27)	First lien senior secured loan	S +	5.50%	9/2028	4,036	3,984	3,996	0.1	%
DuraServ LLC(13)(27)	First lien senior secured loan	S +	4.75%	6/2031	73,607	73,252	73,238	1.2	%
DuraServ LLC(10)(13)(24)(27)	First lien senior secured delayed draw term loan	S +	4.75%	6/2026	1,890	1,816	1,813	—	%
DuraServ LLC(10)(23)(27)	First lien senior secured revolving loan	S +	4.75%	6/2030	—	(65)	(68)	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Fullsteam Operations, LLC(14)(27)	First lien senior secured loan	S +	8.25%	11/2029	8,938	8,693	8,938	0.1	%
Fullsteam Operations, LLC(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	8.25%	5/2025	2,673	2,599	2,673	—	%
Fullsteam Operations, LLC(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	8.25%	11/2025	1,154	1,122	1,154	—	%
Fullsteam Operations, LLC(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	7.00%	8/2025	—	(34)	(13)	—	%
Fullsteam Operations, LLC(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	7.00%	2/2026	—	(8)	(3)	—	%
Fullsteam Operations, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	8.25%	11/2029	—	(12)	—	—	%
Gainsight, Inc.(14)(27)	First lien senior secured loan	S +	6.75% PIK	7/2027	26,132	25,948	26,132	0.4	%
Gainsight, Inc.(10)(14)(27)	First lien senior secured revolving loan	S +	6.75% PIK	7/2027	1,875	1,848	1,875	—	%
Hercules Borrower, LLC (dba The Vincit Group)(14)(27)	First lien senior secured loan	S +	5.50%	12/2026	173,742	173,746	173,741	2.9	%
Hercules Borrower, LLC (dba The Vincit Group)(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	12/2026	—	(115)	—	—	%
Hercules Buyer, LLC (dba The Vincit Group)(17)(27)(32)	Unsecured notes		0.48% PIK	12/2029	5,184	5,184	6,334	0.1	%
Kaseya Inc.(14)(27)	First lien senior secured loan	S +	5.50%	6/2029	19,155	18,877	19,155	0.3	%
Kaseya Inc.(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	5.50%	6/2025	221	211	221	—	%
Kaseya Inc.(10)(13)(27)	First lien senior secured revolving loan	S +	5.50%	6/2029	287	271	287	—	%
KPSKY Acquisition, Inc. (dba BluSky)(14)(27)	First lien senior secured loan	S +	5.50%	10/2028	4,852	4,789	4,451	0.1	%
KPSKY Acquisition, Inc. (dba BluSky)(10)(14)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.75%	11/2025	3	1	(14)	—	%
Ping Identity Holding Corp.(14)(27)	First lien senior secured loan	S +	4.75%	10/2029	909	907	909	—	%
Ping Identity Holding Corp.(10)(27)	First lien senior secured revolving loan	S +	4.75%	10/2028	—	—	—	—	%
Pye-Barker Fire & Safety, LLC(14)(27)	First lien senior secured loan	S +	4.50%	5/2031	100,985	100,500	100,479	1.7	%
Pye-Barker Fire & Safety, LLC(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	4.50%	5/2026	5,563	5,316	5,304	0.1	%
Pye-Barker Fire & Safety, LLC(10)(14)(27)	First lien senior secured revolving loan	S +	4.50%	5/2030	2,435	2,343	2,338	—	%
						562,893	541,361	8.8	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Chemicals
Advancion Holdings, LLC (fka Aruba Investments Holdings, LLC)(13)(27)	Second lien senior secured loan	S +	7.75%	11/2028	10,000	9,909	9,475	0.2	%
DCG ACQUISITION CORP. (dba DuBois Chemical)(13)(27)	First lien senior secured loan	S +	4.75%	6/2031	55,779	55,238	55,221	0.9	%
DCG ACQUISITION CORP. (dba DuBois Chemical)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	4.75%	6/2026	—	(45)	(47)	—	%
DCG ACQUISITION CORP. (dba DuBois Chemical)(10)(23)(27)	First lien senior secured revolving loan	S +	4.75%	6/2031	—	(89)	(93)	—	%
Gaylord Chemical Company, L.L.C.(14)(27)	First lien senior secured loan	S +	5.25%	3/2027	124,328	124,031	124,327	2.1	%
Gaylord Chemical Company, L.L.C.(10)(14)(27)	First lien senior secured revolving loan	S +	5.25%	3/2026	11,089	11,059	11,089	0.2	%
Rocket BidCo, Inc. (dba Recochem)(14)(27)(29)	First lien senior secured loan	S +	5.75%	11/2030	197,500	193,678	194,537	3.3	%
Velocity HoldCo III Inc. (dba VelocityEHS)(14)(27)	First lien senior secured loan	S +	5.75%	4/2027	21,601	21,362	21,601	0.4	%
Velocity HoldCo III Inc. (dba VelocityEHS)(10)(23)(27)	First lien senior secured revolving loan	S +	5.75%	4/2026	—	(9)	—	—	%
						415,134	416,110	7.1	%
Consumer products
Conair Holdings LLC(13)(27)	Second lien senior secured loan	S +	7.50%	5/2029	130,335	129,676	121,864	2.0	%
Feradyne Outdoors, LLC(14)(27)	First lien senior secured loan	S +	6.25%	5/2026	75,313	75,313	66,275	1.1	%
Foundation Consumer Brands, LLC(14)(27)	First lien senior secured loan	S +	6.25%	2/2027	3,061	3,061	3,061	0.1	%
Lignetics Investment Corp.(14)(27)	First lien senior secured loan	S +	6.00%	11/2027	39,578	39,270	39,578	0.7	%
Lignetics Investment Corp.(10)(14)(27)	First lien senior secured revolving loan	S +	6.00%	10/2026	4,471	4,446	4,471	0.1	%
SWK BUYER, Inc. (dba Stonewall Kitchen)(14)(27)	First lien senior secured loan	S +	5.25%	3/2029	737	727	713	—	%
SWK BUYER, Inc. (dba Stonewall Kitchen)(10)(14)(27)	First lien senior secured revolving loan	S +	5.25%	3/2029	25	24	22	—	%
WU Holdco, Inc. (dba Weiman Products, LLC)(14)(27)	First lien senior secured loan	S +	5.00%	3/2027	199,193	198,029	199,193	3.3	%
WU Holdco, Inc. (dba Weiman Products, LLC)(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	7/2026	34,660	34,269	34,660	0.6	%
WU Holdco, Inc. (dba Weiman Products, LLC)(10)(14)(27)	First lien senior secured revolving loan	S +	5.00%	3/2027	7,327	7,249	7,327	0.1	%
						492,064	477,164	8.0	%
Containers and packaging
Arctic Holdco, LLC (dba Novvia Group)(13)(27)	First lien senior secured loan	S +	6.00%	12/2026	10,395	10,237	10,317	0.2	%
Arctic Holdco, LLC (dba Novvia Group)(10)(13)(24)(27)	First lien senior secured delayed draw term loan	S +	6.00%	12/2024	5,606	5,497	5,550	0.1	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Ascend Buyer, LLC (dba PPC Flexible Packaging)(14)(27)	First lien senior secured loan	S +	5.75%	9/2028	5,401	5,366	5,401	0.1	%
Ascend Buyer, LLC (dba PPC Flexible Packaging)(10)(14)(27)	First lien senior secured revolving loan	S +	5.75%	9/2027	188	185	188	—	%
Fortis Solutions Group, LLC(14)(27)	First lien senior secured loan	S +	5.50%	10/2028	4,547	4,488	4,490	0.1	%
Fortis Solutions Group, LLC(10)(14)(27)	First lien senior secured revolving loan	S +	5.50%	10/2027	123	118	117	—	%
Indigo Buyer, Inc. (dba Inovar Packaging Group)(14)(27)	First lien senior secured loan	S +	6.25%	5/2028	881	875	881	—	%
Indigo Buyer, Inc. (dba Inovar Packaging Group)(14)(27)	First lien senior secured loan	S +	5.25%	5/2028	3,488	3,463	3,462	0.1	%
Indigo Buyer, Inc. (dba Inovar Packaging Group)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	7/2026	—	(13)	(13)	—	%
Indigo Buyer, Inc. (dba Inovar Packaging Group)(10)(23)(27)	First lien senior secured revolving loan	S +	6.25%	5/2028	—	(1)	—	—	%
Pregis Topco LLC(13)(27)	Second lien senior secured loan	S +	6.91%	8/2029	160,000	158,168	159,999	2.7	%
						188,383	190,392	3.3	%
Distribution
ABB/Con-cise Optical Group LLC(14)(27)	First lien senior secured loan	S +	7.50%	2/2028	63,778	63,161	62,184	1.0	%
BradyPLUS Holdings, LLC (f/k/a BradyIFS Holdings, LLC)(14)(27)	First lien senior secured loan	S +	6.00%	10/2029	140,907	139,662	140,906	2.4	%
BradyPLUS Holdings, LLC (f/k/a BradyIFS Holdings, LLC)(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	6.00%	10/2025	11,111	10,944	11,111	0.2	%
Endries Acquisition, Inc.(13)(27)	First lien senior secured loan	S +	5.25%	12/2028	98,343	97,704	97,605	1.6	%
Endries Acquisition, Inc.(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	12/2025	—	(49)	(59)	—	%
Offen, Inc.(13)(27)	First lien senior secured loan	S +	5.00%	6/2026	18,602	18,550	18,602	0.3	%
						329,972	330,349	5.5	%
Energy equipment and services
Dresser Utility Solutions, LLC(13)(27)	First lien senior secured loan	S +	5.50%	3/2029	56,154	55,644	55,874	0.9	%
Dresser Utility Solutions, LLC(10)(24)(27)	First lien senior secured delayed draw term loan	S +	5.50%	9/2025	—	—	—	—	%
Dresser Utility Solutions, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	3/2029	—	(63)	(36)	—	%
						55,581	55,838	0.9	%
Financial services
Baker Tilly Advisory Group, L.P.(13)(27)	First lien senior secured loan	S +	5.00%	6/2031	58,210	57,385	57,337	1.0	%
Baker Tilly Advisory Group, L.P.(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	6/2026	—	(80)	(66)	—	%
Baker Tilly Advisory Group, L.P.(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	6/2030	—	(171)	(184)	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Blackhawk Network Holdings, Inc.(6)(13)(27)	First lien senior secured loan	S +	5.00%	3/2029	74,813	73,397	75,089	1.3	%
Cresset Capital Management, LLC(13)(27)	First lien senior secured loan	S +	5.00%	6/2030	7,816	7,741	7,738	0.1	%
Cresset Capital Management, LLC(10)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	9/2025	—	—	—	—	%
Cresset Capital Management, LLC(10)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	6/2026	—	—	—	—	%
Cresset Capital Management, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	6/2029	—	(10)	(11)	—	%
Klarna Holding AB(14)(27)(29)	Subordinated Floating Rate Notes	S +	7.00%	4/2034	1,000	1,000	1,000	—	%
Finastra USA, Inc.(14)(27)(29)	First lien senior secured loan	S +	7.25%	9/2029	88,800	88,021	88,800	1.5	%
Finastra USA, Inc.(10)(14)(27)(29)	First lien senior secured revolving loan	S +	7.25%	9/2029	4,288	4,196	4,288	0.1	%
KRIV Acquisition Inc. (dba Riveron)(13)(27)	First lien senior secured loan	S +	6.25%	7/2029	6,223	6,063	6,223	0.1	%
KRIV Acquisition Inc. (dba Riveron)(10)(23)(27)	First lien senior secured revolving loan	S +	6.25%	7/2029	—	(20)	—	—	%
Minotaur Acquisition, Inc. (dba Inspira Financial)(13)(27)	First lien senior secured loan	S +	5.00%	6/2030	172,660	170,885	170,810	2.9	%
Minotaur Acquisition, Inc. (dba Inspira Financial)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	5/2026	—	(115)	(123)	—	%
Minotaur Acquisition, Inc. (dba Inspira Financial)(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	6/2030	—	(142)	(152)	—	%
NMI Acquisitionco, Inc. (dba Network Merchants)(13)(27)	First lien senior secured loan	S +	5.00%	9/2028	36,097	35,975	36,097	0.6	%
NMI Acquisitionco, Inc. (dba Network Merchants)(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	9/2028	—	(4)	—	—	%
Smarsh Inc.(14)(27)	First lien senior secured loan	S +	5.75%	2/2029	762	757	762	—	%
Smarsh Inc.(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	5.75%	2/2025	95	94	95	—	%
Smarsh Inc.(10)(27)	First lien senior secured revolving loan	S +	5.75%	2/2029	—	—	—	—	%
						444,972	447,703	7.6	%
Food and beverage
Balrog Acquisition, Inc. (dba Bakemark)(13)(27)	Second lien senior secured loan	S +	7.00%	9/2029	22,000	21,869	22,000	0.4	%
Blast Bidco Inc. (dba Bazooka Candy Brands)(14)(27)	First lien senior secured loan	S +	6.00%	10/2030	29,404	28,742	29,404	0.5	%
Blast Bidco Inc. (dba Bazooka Candy Brands)(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	10/2029	—	(72)	—	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
BP Veraison Buyer, LLC (dba Sun World)(13)(27)	First lien senior secured loan	S +	5.50%	5/2029	92,043	91,378	91,721	1.5	%
BP Veraison Buyer, LLC (dba Sun World)(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	5/2029	—	(139)	(65)	—	%
EAGLE FAMILY FOODS GROUP LLC(14)(27)	First lien senior secured loan	S +	5.00%	8/2030	1,679	1,663	1,671	—	%
Eagle Family Foods Group LLC(10)(14)(27)	First lien senior secured revolving loan	S +	5.00%	8/2030	25	23	24	—	%
Gehl Foods, LLC(15)(27)	First lien senior secured loan	S +	6.25%	6/2030	69,403	68,731	68,709	1.2	%
Gehl Foods, LLC(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	6.25%	12/2025	—	(26)	(27)	—	%
H-Food Holdings, LLC(11)(14)(27)	Second lien senior secured loan	S +	7.00%	3/2026	121,800	109,259	14,007	0.2	%
HISSHO PARENT, LLC(14)(27)	First lien senior secured loan	S +	5.00%	5/2029	8,487	8,444	8,487	0.1	%
HISSHO PARENT, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	5/2029	—	(7)	—	—	%
Innovation Ventures HoldCo, LLC (dba 5 Hour Energy)(13)(27)	First lien senior secured loan	S +	6.25%	3/2027	96,243	95,284	94,799	1.6	%
Nellson Nutraceutical, LLC(14)(27)	First lien senior secured loan	S +	5.75%	12/2025	25,638	25,604	25,382	0.4	%
The Better Being Co., LLC (fka Nutraceutical International Corporation)(13)(27)	First lien senior secured loan	S +	7.50% (3.75% PIK)	9/2026	205,076	203,998	203,025	3.4	%
The Better Being Co., LLC (fka Nutraceutical International Corporation)(10)(13)(27)	First lien senior secured revolving loan	S +	7.50% (3.75% PIK)	9/2026	856	815	712	—	%
Ole Smoky Distillery, LLC(13)(27)	First lien senior secured loan	S +	5.50%	3/2028	862	850	855	—	%
Ole Smoky Distillery, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.25%	3/2028	—	(1)	(1)	—	%
Par Technology Corporation(14)(27)(29)	First lien senior secured loan	S +	5.00%	7/2029	1,286	1,266	1,266	—	%
Rushmore Investment III LLC (dba Winland Foods)(14)(27)	First lien senior secured loan	S +	6.25%	10/2030	252,061	248,437	252,061	4.2	%
Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC)(14)(27)	First lien senior secured loan	S +	4.50%	7/2025	42,617	42,498	42,191	0.7	%
Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC)(10)(14)(27)	First lien senior secured revolving loan	S +	4.50%	7/2025	7,404	7,404	7,314	0.1	%
Tall Tree Foods, Inc.(11)(14)	First lien senior secured loan	S +	9.25% PIK	12/2024	62,253	47,452	33,462	0.6	%
Tall Tree Foods, Inc.(10)(11)(14)(24)	First lien senior secured delayed draw term loan	S +	9.25% PIK	9/2024	3,781	1,512	1,834	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Ultimate Baked Goods Midco, LLC(14)(27)	First lien senior secured loan	S +	6.25%	8/2027	79,798	78,684	79,798	1.3	%
Ultimate Baked Goods Midco, LLC(10)(14)(27)	First lien senior secured revolving loan	S +	6.25%	8/2027	3,481	3,362	3,481	0.1	%
						1,087,030	982,110	16.3	%
Healthcare equipment and services
Allied Benefit Systems Intermediate LLC(13)(27)	First lien senior secured loan	S +	5.25%	10/2030	995	982	990	—	%
Bamboo US BidCo LLC(14)(27)	First lien senior secured loan	S +	6.75% (3.38% PIK)	9/2030	5,013	4,882	5,013	0.1	%
Bamboo US BidCo LLC(19)(27)	First lien senior secured EUR term loan	E +	6.75% (3.38% PIK)	9/2030	€ 3,119	3,218	3,481	0.1	%
Bamboo US BidCo LLC(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	6.75% (3.38% PIK)	3/2025	372	357	372	—	%
Bamboo US BidCo LLC(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	10/2029	—	(26)	—	—	%
CSC MKG Topco LLC (dba Medical Knowledge Group)(13)(27)	First lien senior secured loan	S +	5.75%	2/2029	1,252	1,235	1,240	—	%
Nelipak Holding Company(14)(27)	First lien senior secured loan	S +	5.50%	3/2031	19,845	19,563	19,547	0.3	%
Nelipak Holding Company(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.50%	3/2027	—	(53)	(58)	—	%
Nelipak Holding Company(10)(13)(27)	First lien senior secured revolving loan	S +	5.50%	3/2031	2,178	2,098	2,092	—	%
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.(19)(27)	First lien senior secured EUR term loan	E +	5.50%	3/2031	€ 36,340	38,792	39,949	0.7	%
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.(10)(23)(24)(27)	First lien senior secured EUR delayed draw term loan	E +	5.50%	3/2027	€ -	(106)	(118)	—	%
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.(10)(23)(27)	First lien senior secured EUR revolving loan	E +	5.50%	3/2031	€ -	(39)	(44)	—	%
Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.)(14)(27)(29)	First lien senior secured loan	S +	5.25%	1/2028	125,154	124,053	125,154	2.1	%
Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.)(10)(23)(27)(29)	First lien senior secured revolving loan	S +	5.25%	1/2028	—	(74)	—	—	%
PerkinElmer U.S. LLC(13)(27)	First lien senior secured loan	S +	5.00%	3/2029	19,315	19,307	19,219	0.3	%
PerkinElmer U.S. LLC(10)(13)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	5/2026	2,952	2,916	2,937	—	%
Rhea Parent, Inc.(14)(27)	First lien senior secured loan	S +	5.50%	2/2029	756	746	756	—	%
						217,851	220,530	3.6	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Healthcare providers and services
Covetrus, Inc.(14)(27)	Second lien senior secured loan	S +	9.25%	10/2030	5,000	4,914	4,775	0.1	%
Diagnostic Services Holdings, Inc. (dba Rayus Radiology)(13)(27)	First lien senior secured loan	S +	5.50%	3/2025	992	992	992	—	%
Engage Debtco Limited(14)(27)(29)	First lien senior secured loan	S +	6.00% (2.50% PIK)	7/2029	1,025	1,007	1,000	—	%
KWOL Acquisition Inc. (dba Worldwide Clinical Trials)(15)(27)	First lien senior secured loan	S +	6.25%	12/2029	61,350	60,258	61,044	1.0	%
KWOL Acquisition Inc. (dba Worldwide Clinical Trials)(10)(14)(27)	First lien senior secured revolving loan	S +	6.25%	12/2029	1,046	903	1,005	—	%
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)(13)(27)	First lien senior secured loan	S +	4.00%	9/2030	567	564	564	—	%
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)(10)(24)(27)	First lien senior secured delayed draw term loan	S +	4.00%	9/2026	—	—	—	—	%
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)(10)(27)	First lien senior secured revolving loan	S +	4.00%	9/2029	—	—	—	—	%
Maple Acquisition, LLC (dba Medicus)(14)(27)	First lien senior secured loan	S +	5.25%	5/2031	64,552	64,084	64,229	1.1	%
Maple Acquisition, LLC (dba Medicus)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	5/2026	—	(43)	(30)	—	%
Maple Acquisition, LLC (dba Medicus)(10)(23)(27)	First lien senior secured revolving loan	S +	5.25%	5/2030	—	(64)	(45)	—	%
National Dentex Labs LLC (fka Barracuda Dental LLC)(14)(27)	First lien senior secured loan	S +	8.00% (3.00% PIK)	4/2026	109,287	108,886	91,254	1.5	%
National Dentex Labs LLC (fka Barracuda Dental LLC)(10)(14)(27)	First lien senior secured delayed draw term loan	S +	8.00% (3.00% PIK)	4/2026	2,341	2,209	1,449	—	%
National Dentex Labs LLC (fka Barracuda Dental LLC)(10)(14)(27)	First lien senior secured revolving loan	S +	7.00%	4/2026	7,539	7,488	5,994	0.1	%
Natural Partners, LLC(14)(27)(29)	First lien senior secured loan	S +	4.50%	11/2027	908	897	904	—	%
Natural Partners, LLC(10)(23)(27)(29)	First lien senior secured revolving loan	S +	4.50%	11/2027	—	(1)	—	—	%
OB Hospitalist Group, Inc.(13)(27)	First lien senior secured loan	S +	5.25%	9/2027	107,867	106,469	107,328	1.8	%
OB Hospitalist Group, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	9/2027	—	(151)	(76)	—	%
Ex Vivo Parent Inc. (dba OB Hospitalist)(13)(27)	First lien senior secured loan	S +	9.75% PIK	9/2028	76,977	76,196	76,592	1.3	%
Pacific BidCo Inc.(15)(27)(29)	First lien senior secured loan	S +	6.00% (2.05% PIK)	8/2029	35,455	34,792	35,189	0.6	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
PetVet Care Centers, LLC(13)(27)	First lien senior secured loan	S +	6.00%	11/2030	107,397	106,418	105,249	1.8	%
PetVet Care Centers, LLC(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	6.00%	11/2025	—	(62)	(141)	—	%
PetVet Care Centers, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	11/2029	—	(133)	(296)	—	%
Phantom Purchaser, Inc.(14)(27)	First lien senior secured loan	S +	5.00%	9/2031	29,258	28,966	28,965	0.5	%
Phantom Purchaser, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	9/2031	—	(37)	(37)	—	%
Plasma Buyer LLC (dba PathGroup)(14)(27)	First lien senior secured loan	S +	5.75%	5/2029	667	657	659	—	%
Plasma Buyer LLC (dba PathGroup)(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	6.25%	9/2025	15	15	15	—	%
Plasma Buyer LLC (dba PathGroup)(10)(14)(27)	First lien senior secured revolving loan	S +	5.75%	5/2028	42	41	41	—	%
PPV Intermediate Holdings, LLC(14)(27)	First lien senior secured loan	S +	5.75%	8/2029	931	916	931	—	%
PPV Intermediate Holdings, LLC(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	6.00%	9/2025	36	35	36	—	%
PPV Intermediate Holdings, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.75%	8/2029	—	(1)	—	—	%
Premier Imaging, LLC (dba LucidHealth)(14)(27)	First lien senior secured loan	S +	8.00%	1/2025	42,600	42,556	38,340	0.6	%
Premise Health Holding Corp.(15)(27)	First lien senior secured loan	S +	5.50%	3/2031	47,435	46,766	47,080	0.8	%
Premise Health Holding Corp.(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	2/2030	—	(75)	(41)	—	%
Quva Pharma, Inc.(14)(27)	First lien senior secured loan	S +	5.50%	4/2028	52,100	51,170	51,970	0.9	%
Quva Pharma, Inc.(10)(14)(27)	First lien senior secured revolving loan	S +	5.50%	4/2026	2,080	2,043	2,070	—	%
Tivity Health, Inc.(13)(27)	First lien senior secured loan	S +	5.00%	6/2029	495	495	495	—	%
Unified Women's Healthcare, LP(13)(27)	First lien senior secured loan	S +	5.25%	6/2029	25,730	25,556	25,730	0.4	%
Unified Women's Healthcare, LP(10)(13)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	3/2026	3,568	3,521	3,568	0.1	%
Unified Women's Healthcare, LP(10)(27)	First lien senior secured revolving loan	S +	5.25%	6/2029	—	—	—	—	%
Vermont Aus Pty Ltd(21)(27)(29)	First lien senior secured AUD term loan	BB +	5.75%	3/2028	A$1,416	959	978	—	%
XRL 1 LLC (dba XOMA)(17)(27)	First lien senior secured loan		9.88%	12/2038	30,774	30,231	30,313	0.5	%
XRL 1 LLC (dba XOMA)(10)(17)(23)(24)(27)	First lien senior secured delayed draw term loan		9.88%	12/2025	—	(36)	(38)	—	%
						809,401	788,055	13.1	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Healthcare technology
BCPE Osprey Buyer, Inc. (dba PartsSource)(14)(27)	First lien senior secured loan	S +	5.75%	8/2028	116,684	115,498	115,226	1.9	%
BCPE Osprey Buyer, Inc. (dba PartsSource)(10)(13)(24)(27)	First lien senior secured delayed draw term loan	S +	5.75%	10/2025	4,424	4,180	4,316	0.1	%
BCPE Osprey Buyer, Inc. (dba PartsSource)(10)(13)(27)	First lien senior secured revolving loan	S +	5.75%	8/2026	6,323	6,246	6,175	0.1	%
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(13)(27)	First lien senior secured loan	S +	5.00%	8/2031	44,636	44,382	44,379	0.7	%
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(10)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	8/2026	—	—	—	—	%
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	8/2031	—	(22)	(22)	—	%
RL Datix Holdings (USA), Inc.(14)(27)	First lien senior secured loan	S +	5.50%	4/2031	42,737	42,328	42,310	0.7	%
RL Datix Holdings (USA), Inc.(10)(24)(27)	First lien senior secured delayed draw term loan	S +	5.50%	4/2027	—	—	—	—	%
RL Datix Holdings (USA), Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	10/2030	—	(79)	(84)	—	%
RL Datix Holdings (USA), Inc.(22)(27)	First lien senior secured GBP term loan	SA +	5.50%	4/2031	£19,791	24,484	26,282	0.4	%
GI Ranger Intermediate, LLC (dba Rectangle Health)(14)(27)	First lien senior secured loan	S +	6.00%	10/2028	4,504	4,445	4,425	0.1	%
GI Ranger Intermediate, LLC (dba Rectangle Health)(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	10/2027	—	(4)	(6)	—	%
Indikami Bidco, LLC (dba IntegriChain)(13)(27)	First lien senior secured loan	S +	6.50% (2.50% PIK)	12/2030	16,058	15,726	15,818	0.3	%
Indikami Bidco, LLC (dba IntegriChain)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	6.00%	12/2025	—	(16)	—	—	%
Indikami Bidco, LLC (dba IntegriChain)(10)(13)(27)	First lien senior secured revolving loan	S +	6.00%	6/2030	570	539	547	—	%
Inovalon Holdings, Inc.(14)(27)	First lien senior secured loan	S +	6.25% (2.75% PIK)	11/2028	206,031	202,800	203,455	3.4	%
Inovalon Holdings, Inc.(14)(27)	Second lien senior secured loan	S +	10.50% PIK	11/2033	124,551	123,048	123,306	2.1	%
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(14)(27)(29)	First lien senior secured loan	S +	6.50%	8/2026	115,711	115,154	112,818	1.9	%
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(14)(27)(29)	First lien senior secured revolving loan	S +	6.50%	8/2026	8,135	8,088	7,932	0.1	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Interoperability Bidco, Inc. (dba Lyniate)(13)(27)	First lien senior secured loan	S +	6.25%	3/2028	67,854	67,637	66,836	1.1	%
Interoperability Bidco, Inc. (dba Lyniate)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	6.25%	6/2026	—	—	(67)	—	%
Interoperability Bidco, Inc. (dba Lyniate)(10)(14)(27)	First lien senior secured revolving loan	S +	6.25%	3/2028	1,643	1,637	1,564	—	%
Salinger Bidco Inc. (dba Surgical Information Systems)(14)(27)	First lien senior secured loan	S +	5.75%	8/2031	26,203	25,817	25,810	0.4	%
Salinger Bidco Inc. (dba Surgical Information Systems)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.75%	8/2026	—	(18)	(19)	—	%
Salinger Bidco Inc. (dba Surgical Information Systems)(10)(23)(27)	First lien senior secured revolving loan	S +	5.75%	5/2031	—	(44)	(45)	—	%
						801,826	800,956	13.3	%
Household products
Aptive Environmental, LLC(17)(27)	First lien senior secured loan		12.00% (6.00% PIK)	1/2026	13,593	12,656	14,001	0.2	%
HGH Purchaser, Inc. (dba Horizon Services)(14)(27)	First lien senior secured loan	S +	7.00% (2.50% PIK)	11/2026	188,635	187,898	185,334	3.1	%
HGH Purchaser, Inc. (dba Horizon Services)(10)(23)(27)	First lien senior secured revolving loan	S +	4.50%	11/2026	—	(47)	(290)	—	%
Mario Purchaser, LLC (dba Len the Plumber)(13)(27)	First lien senior secured loan	S +	5.75%	4/2029	19,635	19,349	19,635	0.3	%
Mario Purchaser, LLC (dba Len the Plumber)(10)(13)(24)(27)	First lien senior secured delayed draw term loan	S +	5.75%	10/2025	458	412	458	—	%
Mario Purchaser, LLC (dba Len the Plumber)(10)(13)(27)	First lien senior secured revolving loan	S +	5.75%	4/2028	138	122	138	—	%
Mario Midco Holdings, Inc. (dba Len the Plumber)(13)(27)	Unsecured facility	S +	10.75% PIK	4/2032	5,413	5,316	5,413	0.1	%
SimpliSafe Holding Corporation(13)(27)	First lien senior secured loan	S +	6.25%	5/2028	6,802	6,709	6,802	0.1	%
						232,415	231,491	3.8	%
Human resource support services
Cornerstone OnDemand, Inc.(13)(27)	Second lien senior secured loan	S +	6.50%	10/2029	115,833	114,593	105,119	1.8	%
IG Investments Holdings, LLC (dba Insight Global)(14)(27)	First lien senior secured loan	S +	6.00%	9/2028	50,059	49,417	49,934	0.8	%
IG Investments Holdings, LLC (dba Insight Global)(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	9/2027	—	(62)	(13)	—	%
						163,948	155,040	2.6	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Infrastructure and environmental services
FR Vision Holdings, Inc. (dba CHA Consulting)(14)(27)	First lien senior secured loan	S +	5.50%	1/2031	25,382	25,147	25,382	0.4	%
FR Vision Holdings, Inc. (dba CHA Consulting)(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	5.50%	1/2026	2,137	2,081	2,137	—	%
FR Vision Holdings, Inc. (dba CHA Consulting)(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	1/2030	—	(18)	—	—	%
GI Apple Midco LLC (dba Atlas Technical Consultants)(13)(27)	First lien senior secured loan	S +	6.75%	4/2030	815	803	807	—	%
GI Apple Midco LLC (dba Atlas Technical Consultants)(10)(13)(24)(27)	First lien senior secured delayed draw term loan	S +	6.75%	4/2025	17	16	17	—	%
GI Apple Midco LLC (dba Atlas Technical Consultants)(10)(13)(27)	First lien senior secured revolving loan	S +	6.75%	4/2029	40	38	39	—	%
KENE Acquisition, Inc. (dba Entrust Solutions Group)(13)(27)	First lien senior secured loan	S +	5.25%	2/2031	11,525	11,311	11,381	0.2	%
KENE Acquisition, Inc. (dba Entrust Solutions Group)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	2/2026	—	(46)	(13)	—	%
KENE Acquisition, Inc. (dba Entrust Solutions Group)(10)(23)(27)	First lien senior secured revolving loan	S +	5.25%	2/2031	—	(28)	(19)	—	%
LineStar Integrity Services LLC(14)(27)	First lien senior secured loan	S +	7.25%	2/2026	54,878	54,214	51,586	0.9	%
LineStar Integrity Services LLC(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	7.25%	3/2025	1,292	910	1,214	—	%
LineStar Integrity Services LLC(14)(27)	First lien senior secured revolving loan	S +	7.25%	2/2026	9,903	9,795	9,309	0.2	%
Tamarack Intermediate, L.L.C. (dba Verisk 3E)(14)(27)	First lien senior secured loan	S +	5.75%	3/2028	1,015	1,002	1,009	—	%
Tamarack Intermediate, L.L.C. (dba Verisk 3E)(10)(23)(27)	First lien senior secured revolving loan	S +	5.75%	3/2028	—	(2)	(1)	—	%
Vessco Midco Holdings, LLC(15)(27)	First lien senior secured loan	S +	5.25%	7/2031	37,696	37,326	37,319	0.6	%
Vessco Midco Holdings, LLC(10)(15)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	7/2026	1,843	1,781	1,771	—	%
Vessco Midco Holdings, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.25%	7/2031	—	(41)	(42)	—	%
						144,289	141,896	2.3	%
Insurance
Alera Group, Inc.(13)(27)	First lien senior secured loan	S +	5.25%	10/2028	34,196	34,196	34,196	0.6	%
AmeriLife Holdings LLC(14)(27)	First lien senior secured loan	S +	5.00%	8/2029	1,034	1,018	1,034	—	%
AmeriLife Holdings LLC(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	6/2026	69	69	69	—	%
AmeriLife Holdings LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	8/2028	—	(1)	—	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Brightway Holdings, LLC(13)(27)	First lien senior secured loan	S +	6.50%	12/2027	29,305	29,080	28,939	0.5	%
Brightway Holdings, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	6.50%	12/2027	—	(21)	(39)	—	%
Evolution BuyerCo, Inc. (dba SIAA)(14)(27)	First lien senior secured loan	S +	6.25%	4/2028	139,203	138,043	139,203	2.3	%
Evolution BuyerCo, Inc. (dba SIAA)(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	6.00%	12/2025	3,955	3,814	3,945	0.1	%
Evolution BuyerCo, Inc. (dba SIAA)(10)(23)(27)	First lien senior secured revolving loan	S +	6.25%	4/2027	—	(65)	—	—	%
Galway Borrower LLC(10)(24)(27)	First lien senior secured delayed draw term loan	S +	4.50%	7/2026	—	—	—	—	%
Galway Borrower LLC(10)(14)(27)	First lien senior secured revolving loan	S +	4.50%	9/2028	51	50	51	—	%
Integrity Marketing Acquisition, LLC(14)(27)	First lien senior secured loan	S +	5.00%	8/2028	41,047	40,839	40,835	0.7	%
Integrity Marketing Acquisition, LLC(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	8/2026	—	(18)	(18)	—	%
Integrity Marketing Acquisition, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	8/2028	—	(6)	(6)	—	%
Norvax, LLC (dba GoHealth)(13)(27)	First lien senior secured loan	S +	8.00%	9/2025	66,929	66,360	65,590	1.1	%
Norvax, LLC (dba GoHealth)(10)(13)(27)	First lien senior secured revolving loan	S +	6.50%	6/2025	2,773	2,773	2,651	—	%
Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services)(15)(27)	First lien senior secured loan	S +	5.50%	11/2028	108,900	108,900	108,900	1.8	%
Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services)(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	11/2027	—	(32)	—	—	%
PCF Midco II, LLC (dba PCF Insurance Services)(17)(27)	First lien senior secured loan		9.00% PIK	10/2031	154,411	145,335	147,077	2.5	%
Summit Acquisition Inc. (dba K2 Insurance Services)(14)(27)	First lien senior secured loan	S +	6.50%	5/2030	726	707	741	—	%
Summit Acquisition Inc. (dba K2 Insurance Services)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	6.50%	11/2024	—	(2)	—	—	%
Summit Acquisition Inc. (dba K2 Insurance Services)(10)(23)(27)	First lien senior secured revolving loan	S +	6.50%	5/2029	—	(2)	—	—	%
Tempo Buyer Corp. (dba Global Claims Services)(14)(27)	First lien senior secured loan	S +	4.75%	8/2028	1,059	1,045	1,059	—	%
Tempo Buyer Corp. (dba Global Claims Services)(10)(18)(27)	First lien senior secured revolving loan	P +	3.75%	8/2027	15	14	15	—	%
THG Acquisition, LLC (dba Hilb)(13)(27)	First lien senior secured loan	S +	5.75%	12/2026	73,398	72,731	73,398	1.2	%
THG Acquisition, LLC (dba Hilb)(10)(13)(27)	First lien senior secured revolving loan	S +	5.75%	12/2025	3,061	3,016	3,061	0.1	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners)(13)(27)	First lien senior secured loan	S +	5.00%	12/2029	38,012	37,825	37,917	0.6	%
USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners)(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	12/2029	—	(21)	(11)	—	%
KUSRP Intermediate, Inc. (dba U.S. Retirement and Benefits Partners)(13)(27)	First lien senior secured loan	S +	10.50% PIK	7/2030	40,548	40,218	40,548	0.7	%
						725,865	729,155	12.2	%
Internet software and services
3ES Innovation Inc. (dba Aucerna)(13)(27)(29)	First lien senior secured loan	S +	6.50%	5/2025	59,542	59,434	59,542	1.0	%
3ES Innovation Inc. (dba Aucerna)(10)(23)(27)(29)	First lien senior secured revolving loan	S +	6.50%	5/2025	—	(5)	—	—	%
AI Titan Parent, Inc. (dba Prometheus Group)(14)(27)	First lien senior secured loan	S +	4.75%	8/2031	755	747	747	—	%
AI Titan Parent, Inc. (dba Prometheus Group)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	4.75%	9/2026	—	(1)	(1)	—	%
AI Titan Parent, Inc. (dba Prometheus Group)(10)(23)(27)	First lien senior secured revolving loan	S +	4.75%	8/2031	—	(1)	(1)	—	%
AlphaSense, Inc.(13)(27)	First lien senior secured loan	S +	6.25%	6/2029	707	700	700	—	%
AlphaSense, Inc.(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	6.25%	12/2025	—	(1)	(1)	—	%
AlphaSense, Inc.(10)(27)	First lien senior secured delayed draw term loan	S +	6.25%	6/2029	—	—	—	—	%
Anaplan, Inc.(14)(27)	First lien senior secured loan	S +	5.25%	6/2029	139,134	139,097	139,134	2.3	%
Anaplan, Inc.(10)(27)	First lien senior secured revolving loan	S +	5.25%	6/2028	—	—	—	—	%
Aptean Acquiror, Inc. (dba Aptean)(13)(27)	First lien senior secured loan	S +	5.25%	1/2031	824	816	820	—	%
Aptean Acquiror, Inc. (dba Aptean)(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	1/2026	2	2	2	—	%
Aptean Acquiror, Inc. (dba Aptean)(10)(23)(27)	First lien senior secured revolving loan	S +	5.25%	1/2031	—	(1)	—	—	%
Armstrong Bidco Limited (dba The Access Group)(22)(27)(29)	First lien senior secured GBP term loan	SA +	5.25%	6/2029	£2,960	3,574	3,950	0.1	%
Artifact Bidco, Inc. (dba Avetta)(14)(27)	First lien senior secured loan	S +	4.50%	7/2031	9,105	9,061	9,059	0.2	%
Artifact Bidco, Inc. (dba Avetta)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	4.50%	7/2027	—	(5)	(6)	—	%
Artifact Bidco, Inc. (dba Avetta)(10)(23)(27)	First lien senior secured revolving loan	S +	4.50%	7/2030	—	(7)	(8)	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.)(13)(27)	First lien senior secured loan	S +	6.50%	3/2031	3,658	3,605	3,612	0.1	%
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.)(10)(13)(24)(27)	First lien senior secured delayed draw term loan	S +	6.50%	3/2026	5,320	5,225	5,239	0.1	%
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.)(10)(23)(27)	First lien senior secured revolving loan	S +	6.50%	3/2031	—	(18)	(17)	—	%
Bayshore Intermediate #2, L.P. (dba Boomi)(14)(27)	First lien senior secured loan	S +	7.75% PIK	10/2028	114,290	113,053	114,290	1.9	%
Bayshore Intermediate #2, L.P. (dba Boomi)(10)(23)(27)	First lien senior secured revolving loan	S +	6.75%	10/2027	—	(78)	—	—	%
BCTO BSI Buyer, Inc. (dba Buildertrend)(14)(27)	First lien senior secured loan	S +	7.50% PIK	12/2026	59,123	58,865	59,123	1.0	%
BCTO BSI Buyer, Inc. (dba Buildertrend)(10)(23)(27)	First lien senior secured revolving loan	S +	7.50%	12/2026	—	(47)	—	—	%
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.)(14)(27)	First lien senior secured loan	S +	5.50%	8/2027	12,696	12,527	12,347	0.2	%
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.)(10)(14)(27)	First lien senior secured revolving loan	S +	5.50%	8/2027	273	264	251	—	%
Crewline Buyer, Inc. (dba New Relic)(14)(27)	First lien senior secured loan	S +	6.75%	11/2030	106,201	104,748	105,936	1.8	%
Crewline Buyer, Inc. (dba New Relic)(10)(23)(27)	First lien senior secured revolving loan	S +	6.75%	11/2030	—	(145)	(28)	—	%
CivicPlus, LLC(14)(27)	First lien senior secured loan	S +	5.75% (2.50% PIK)	8/2027	36,035	35,837	36,035	0.6	%
CivicPlus, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.75%	8/2027	—	(14)	—	—	%
CP PIK DEBT ISSUER, LLC (dba CivicPlus, LLC)(14)(27)	Unsecured notes	S +	11.75% PIK	6/2034	23,098	22,687	23,098	0.4	%
Coupa Holdings, LLC(14)(27)	First lien senior secured loan	S +	5.50%	2/2030	783	783	783	—	%
Coupa Holdings, LLC(10)(24)(27)	First lien senior secured delayed draw term loan	S +	5.50%	8/2025	—	—	—	—	%
Coupa Holdings, LLC(10)(27)	First lien senior secured revolving loan	S +	5.50%	2/2029	—	—	—	—	%
Delinea Buyer, Inc. (f/k/a Centrify)(14)(27)	First lien senior secured loan	S +	5.75%	3/2028	65,051	64,125	65,051	1.1	%
Delinea Buyer, Inc. (f/k/a Centrify)(10)(23)(27)	First lien senior secured revolving loan	S +	5.75%	3/2027	—	(81)	—	—	%
Delinea Buyer, Inc. (f/k/a Centrify)(14)(27)	First lien senior secured loan	S +	6.00%	3/2028	23,612	23,186	23,612	0.4	%
EET Buyer, Inc. (dba e-Emphasys)(14)(27)	First lien senior secured loan	S +	5.00%	11/2027	4,432	4,406	4,432	0.1	%
EET Buyer, Inc. (dba e-Emphasys)(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	11/2027	—	(2)	—	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Forescout Technologies, Inc.(14)(27)	First lien senior secured loan	S +	5.00%	5/2031	79,400	79,017	79,003	1.3	%
Forescout Technologies, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	5/2030	—	(27)	(28)	—	%
Granicus, Inc.(14)(27)	First lien senior secured loan	S +	5.75% (2.25% PIK)	1/2031	8,974	8,892	8,963	0.2	%
Granicus, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	5.25%	1/2031	—	(10)	—	—	%
H&F Opportunities LUX III S.À R.L (dba Checkmarx)(13)(27)(29)	First lien senior secured loan	S +	7.50%	4/2026	51,567	51,082	51,438	0.9	%
H&F Opportunities LUX III S.À R.L (dba Checkmarx)(10)(23)(27)(29)	First lien senior secured revolving loan	S +	7.50%	4/2026	—	(125)	(41)	—	%
Hyland Software, Inc.(13)(27)	First lien senior secured loan	S +	6.00%	9/2030	52,770	52,061	52,506	0.9	%
Hyland Software, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	9/2029	—	(31)	(13)	—	%
Icefall Parent, Inc. (dba EngageSmart)(13)(27)	First lien senior secured loan	S +	6.50%	1/2030	22,051	21,648	21,941	0.4	%
Icefall Parent, Inc. (dba EngageSmart)(10)(23)(27)	First lien senior secured revolving loan	S +	6.50%	1/2030	—	(37)	(11)	—	%
JS Parent, Inc. (dba Jama Software)(14)(27)	First lien senior secured loan	S +	5.00%	4/2031	912	907	907	—	%
JS Parent, Inc. (dba Jama Software)(10)(27)	First lien senior secured revolving loan	S +	5.00%	4/2031	—	—	—	—	%
Litera Bidco LLC(13)(27)	First lien senior secured loan	S +	5.00%	5/2028	123,584	123,015	122,966	2.1	%
Litera Bidco LLC(10)(13)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	11/2026	16,221	16,105	16,094	0.3	%
Litera Bidco LLC(10)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	5/2027	—	—	—	—	%
Litera Bidco LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	5/2028	—	(37)	(41)	—	%
MessageBird BidCo B.V.(13)(27)(29)	First lien senior secured loan	S +	6.75%	5/2027	19,250	19,036	19,250	0.3	%
MINDBODY, Inc.(14)(27)	First lien senior secured loan	S +	7.00%	9/2025	62,018	61,959	62,018	1.0	%
MINDBODY, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	7.00%	9/2025	—	(4)	—	—	%
Ministry Brands Holdings, LLC(13)(27)	First lien senior secured loan	S +	5.50%	12/2028	759	748	751	—	%
Ministry Brands Holdings, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.50%	12/2027	—	(1)	(1)	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
PDI TA Holdings, Inc.(14)(27)	First lien senior secured loan	S +	5.25%	2/2031	14,965	14,757	14,816	0.2	%
PDI TA Holdings, Inc.(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	2/2026	—	(31)	(17)	—	%
PDI TA Holdings, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	5.25%	2/2031	—	(21)	(15)	—	%
QAD, Inc.(13)(27)	First lien senior secured loan	S +	4.75%	11/2027	26,518	26,518	26,518	0.4	%
QAD, Inc.(10)(27)	First lien senior secured revolving loan	S +	4.75%	11/2027	—	—	—	—	%
SailPoint Technologies Holdings, Inc.(14)(27)	First lien senior secured loan	S +	6.00%	8/2029	45,640	44,898	45,526	0.8	%
SailPoint Technologies Holdings, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	8/2028	—	(56)	(11)	—	%
Securonix, Inc.(14)(27)	First lien senior secured loan	S +	7.00%	4/2028	847	842	746	—	%
Securonix, Inc.(10)(14)(23)(27)	First lien senior secured revolving loan	S +	7.00%	4/2028	3	3	(15)	—	%
Sitecore Holding III A/S(14)(27)	First lien senior secured loan	S +	7.75% (4.25% PIK)	3/2029	4,141	4,114	4,141	0.1	%
Sitecore USA, Inc.(14)(27)	First lien senior secured loan	S +	7.75% (4.25% PIK)	3/2029	24,964	24,805	24,964	0.4	%
Sitecore Holding III A/S(20)(27)	First lien senior secured EUR term loan	E +	7.75% (4.25% PIK)	3/2029	€ 24,236	25,402	27,049	0.5	%
Thunder Purchaser, Inc. (dba Vector Solutions)(14)(27)	First lien senior secured loan	S +	5.50%	6/2028	68,116	67,712	68,116	1.1	%
Thunder Purchaser, Inc. (dba Vector Solutions)(10)(14)(27)	First lien senior secured revolving loan	S +	5.50%	6/2027	4,441	4,411	4,441	0.1	%
When I Work, Inc.(14)(27)	First lien senior secured loan	S +	7.00% PIK	11/2027	5,885	5,856	5,708	0.1	%
When I Work, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	11/2027	—	(5)	(28)	—	%
Zendesk, Inc.(14)(27)	First lien senior secured loan	S +	5.00%	11/2028	71,217	70,203	71,217	1.2	%
Zendesk, Inc.(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	11/2025	—	(444)	—	—	%
Zendesk, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	11/2028	—	(98)	—	—	%
						1,385,400	1,396,559	23.6	%
Leisure and entertainment
Aerosmith Bidco Limited (dba Audiotonix)(15)(27)(29)	First lien senior secured loan	S +	5.25%	7/2031	202,930	200,372	200,323	3.4	%
Aerosmith Bidco Limited (dba Audiotonix)(10)(23)(24)(27)(29)	First lien senior secured multi-draw term loan	S +	5.25%	7/2027	—	(119)	(126)	—	%
Aerosmith Bidco Limited (dba Audiotonix)(10)(23)(27)(29)	First lien senior secured multi-currency revolving loan	S +	5.25%	7/2030	—	(323)	(334)	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Troon Golf, L.L.C.(14)(27)	First lien senior secured loan	S +	4.50%	8/2028	40,527	40,527	40,527	0.7	%
Troon Golf, L.L.C.(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	4.50%	9/2026	—	(15)	(16)	—	%
Troon Golf, L.L.C.(10)(27)	First lien senior secured revolving loan	S +	4.50%	8/2028	—	—	—	—	%
						240,442	240,374	4.1	%
Manufacturing
Faraday Buyer, LLC (dba MacLean Power Systems)(14)(27)	First lien senior secured loan	S +	6.00%	10/2028	105,227	103,426	104,438	1.8	%
Faraday Buyer, LLC (dba MacLean Power Systems)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	6.00%	11/2025	—	(91)	—	—	%
Gloves Buyer, Inc. (dba Protective Industrial Products)(6)(13)(27)	First lien senior secured loan	S +	4.00%	12/2027	14,961	14,927	14,896	0.2	%
Helix Acquisition Holdings, Inc. (dba MW Industries)(13)(27)	First lien senior secured loan	S +	7.00%	3/2030	946	922	939	—	%
Ideal Tridon Holdings, Inc.(14)(27)	First lien senior secured loan	S +	6.75%	4/2028	26,667	26,058	26,534	0.4	%
Ideal Tridon Holdings, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	6.75%	4/2028	—	(54)	(13)	—	%
JSG II, Inc.(13)(27)	First lien senior secured loan	S +	4.50%	6/2026	13,531	13,492	13,531	0.2	%
MHE Intermediate Holdings, LLC (dba OnPoint Group)(14)(27)	First lien senior secured loan	S +	6.00%	7/2027	79,193	78,774	79,193	1.3	%
MHE Intermediate Holdings, LLC (dba OnPoint Group)(10)(23)(27)	First lien senior secured revolving loan	S +	6.00%	7/2027	—	(73)	—	—	%
Loparex Midco BV(13)(27)	First lien senior secured loan	S +	6.00%	2/2027	796	796	796	—	%
PHM Netherlands Midco B.V. (dba Loparex)(14)(27)	Second lien senior secured loan	S +	8.75%	7/2027	112,000	108,416	94,640	1.6	%
Sonny's Enterprises, LLC(14)(27)	First lien senior secured loan	S +	5.25%	8/2028	237,191	235,206	236,598	4.0	%
Sonny's Enterprises, LLC(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	6/2026	1,890	1,795	1,885	—	%
Sonny's Enterprises, LLC(10)(23)(27)	First lien senior secured revolving loan	S +	5.25%	8/2027	—	(108)	(47)	—	%
						583,486	573,390	9.5	%
Oil and gas
Project Power Buyer, LLC (dba PEC-Veriforce)(14)(27)	First lien senior secured loan	S +	6.75%	5/2026	43,836	43,661	43,836	0.7	%
Project Power Buyer, LLC (dba PEC-Veriforce)(10)(23)(27)	First lien senior secured revolving loan	S +	6.75%	5/2025	—	(4)	—	—	%
						43,657	43,836	0.7	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Pharmaceuticals
BridgeBio Pharma, Inc.(14)(27)(29)	First lien senior secured loan	S +	6.50%	N/A	75,000	74,900	74,813	1.3	%
TG THERAPEUTICS, INC.(14)(27)(29)	First lien senior secured loan	S +	5.50%	N/A	31,250	31,022	31,016	0.5	%
						105,922	105,829	1.8	%
Professional services
Apex Service Partners, LLC(13)(27)	First lien senior secured loan	S +	7.00% (2.00% PIK)	10/2030	32,433	31,715	32,758	0.5	%
Apex Service Partners, LLC(10)(13)(27)	First lien senior secured revolving loan	S +	6.50%	10/2029	989	946	999	—	%
Essential Services Holding Corporation (dba Turnpoint)(14)(27)	First lien senior secured loan	S +	5.00%	6/2031	19,717	19,526	19,520	0.3	%
Essential Services Holding Corporation (dba Turnpoint)(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	6/2026	—	(19)	(19)	—	%
Essential Services Holding Corporation (dba Turnpoint)(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	6/2030	—	(23)	(24)	—	%
Gerson Lehrman Group, Inc.(14)(27)	First lien senior secured loan	S +	5.25%	12/2027	122,818	121,894	122,511	2.1	%
Gerson Lehrman Group, Inc.(10)(23)(27)	First lien senior secured revolving loan	S +	5.25%	12/2027	—	(45)	(16)	—	%
Guidehouse Inc.(13)(27)	First lien senior secured loan	S +	5.75% (2.00% PIK)	12/2030	4,619	4,619	4,608	0.1	%
Relativity ODA LLC(13)(27)	First lien senior secured loan	S +	4.50%	5/2029	76,621	76,318	76,307	1.3	%
Relativity ODA LLC(10)(23)(27)	First lien senior secured revolving loan	S +	4.50%	5/2029	—	(26)	(27)	—	%
Sensor Technology Topco, Inc. (dba Humanetics)(14)(27)	First lien senior secured loan	S +	7.00% (2.00% PIK)	5/2028	65,461	65,186	65,789	1.1	%
Sensor Technology Topco, Inc. (dba Humanetics)(10)(24)(27)	First lien senior secured delayed draw term loan	S +	6.50%	9/2025	—	—	—	—	%
Sensor Technology Topco, Inc. (dba Humanetics)(10)(24)(27)	First lien senior secured EUR delayed draw term loan	E +	6.75%	9/2025	€ -	—	—	—	%
Sensor Technology Topco, Inc. (dba Humanetics)(19)(27)	First lien senior secured EUR term loan	E +	7.25% (2.25% PIK)	5/2028	€ 11,824	12,792	13,262	0.2	%
Sensor Technology Topco, Inc. (dba Humanetics)(10)(13)(27)	First lien senior secured revolving loan	S +	6.50%	5/2028	3,297	3,274	3,310	0.1	%
Vensure Employer Services, Inc.(14)(27)	First lien senior secured loan	S +	5.00%	9/2031	779	771	771	—	%
Vensure Employer Services, Inc.(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.00%	9/2026	—	(1)	9	—	%
						336,927	339,758	5.7	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)		Fair Value		Percentage of Net Assets
Specialty retail
Galls, LLC(14)(27)	First lien senior secured loan	S +	6.50% (1.50% PIK)	3/2030	98,401	97,035		97,909		1.6	%
Galls, LLC(10)(14)(24)(27)	First lien senior secured delayed draw term loan	S +	6.50% (1.50% PIK)	3/2026	3,598	3,367		3,580		0.1	%
Galls, LLC(10)(14)(27)	First lien senior secured revolving loan	S +	6.00%	3/2030	5,607	5,429		5,542		0.1	%
Milan Laser Holdings LLC(14)(27)	First lien senior secured loan	S +	5.00%	4/2027	23,628	23,513		23,628		0.4	%
Milan Laser Holdings LLC(10)(13)(27)	First lien senior secured revolving loan	S +	5.00%	4/2026	1,002	990		1,002		—	%
Notorious Topco, LLC (dba Beauty Industry Group)(14)(27)	First lien senior secured loan	S +	7.25% (2.50% PIK)	11/2027	118,273	117,254		109,403		1.8	%
Notorious Topco, LLC (dba Beauty Industry Group)(10)(23)(27)	First lien senior secured revolving loan	S +	6.75%	5/2027	—	(69)		(718)		—	%
The Shade Store, LLC(13)(27)	First lien senior secured loan	S +	6.00%	10/2029	39,090	37,603		38,309		0.6	%
The Shade Store, LLC(10)(14)(27)	First lien senior secured revolving loan	S +	6.00%	10/2028	2,733	2,601		2,653		—	%
						287,723		281,308		4.6	%
Telecommunications
Park Place Technologies, LLC(14)(27)	First lien senior secured loan	S +	5.25%	3/2031	2,350	2,328		2,339		—	%
Park Place Technologies, LLC(10)(23)(24)(27)	First lien senior secured delayed draw term loan	S +	5.25%	9/2025	—	(2)		—		—	%
Park Place Technologies, LLC(10)(13)(27)	First lien senior secured revolving loan	S +	5.25%	3/2030	44	42		43		—	%
PPT Holdings III, LLC (dba Park Place Technologies)(17)(27)	First lien senior secured loan		12.75% PIK	3/2034	801	783		793		—	%
						3,151		3,175		—	%
Transportation
Lightbeam Bidco, Inc. (dba Lazer Spot)(14)(27)	First lien senior secured loan	S +	5.00%	5/2030	4,490	4,490		4,490		0.1	%
Lightbeam Bidco, Inc. (dba Lazer Spot)(10)(23)(27)	First lien senior secured revolving loan	S +	5.00%	5/2029	—	(4)		—		—	%
Lytx, Inc.(13)(27)	First lien senior secured loan	S +	5.00%	2/2028	71,005	71,005		71,005		1.2	%
						75,491		75,495		1.3	%
Total non-controlled/non-affiliated portfolio company debt investments						$	11,093,523	$	10,927,230	182.5	%

Equity Investments
Aerospace and defense
Space Exploration Technologies Corp.(27)(28)(30)	Class A Common Stock		N/A	N/A	46,605	2,557		5,220		0.1	%
Space Exploration Technologies Corp.(27)(28)(30)	Class C Common Stock		N/A	N/A	9,360	446		1,048		—	%
						3,003		6,268		0.1	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Asset based lending and fund finance
Amergin Asset Management, LLC(27)(28)(30)	Class A Units		N/A	N/A	50,000,000	1	1,608	—	%
						1	1,608	—	%
Automotive services
CD&R Value Building Partners I, L.P. (dba Belron)(7)(27)(28)(29)(30)	LP Interest		N/A	N/A	32,911	32,910	40,051	0.7	%
Metis HoldCo, Inc. (dba Mavis Tire Express Services)(17)(27)(28)	Series A Convertible Preferred Stock		7.00% PIK	N/A	149,692	186,422	189,686	3.2	%
						219,332	229,737	3.9	%
Buildings and real estate
Dodge Construction Network Holdings, L.P.(27)(28)(30)	Class A-2 Common Units		N/A	N/A	2,181,629	1,860	912	—	%
Dodge Construction Network Holdings, L.P.(14)(27)(28)	Series A Preferred Units	S +	8.25% PIK	N/A	—	45	25	—	%
						1,905	937	—	%
Business services
Denali Holding, LP (dba Summit Companies)(27)(28)(30)	Class A Units		N/A	N/A	337,460	3,431	5,639	0.1	%
Hercules Buyer, LLC (dba The Vincit Group)(27)(28)(30)(32)	Common Units		N/A	N/A	2,190,000	2,192	2,676	—	%
Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.)(15)(27)(28)	Perpetual Preferred Stock	S +	10.75% PIK	N/A	14,000	17,710	17,979	0.3	%
						23,333	26,294	0.4	%
Consumer Products
ASP Conair Holdings LP(27)(28)(30)	Class A Units		N/A	N/A	60,714	6,071	6,090	0.1	%
						6,071	6,090	0.1	%
Financial services
Blend Labs, Inc.(5)(27)(30)	Common stock		N/A	N/A	72,317	1,000	271	—	%
Blend Labs, Inc.(27)(28)(30)	Warrants		N/A	N/A	179,529	975	10	—	%
						1,975	281	—	%
Food and beverage
HFS Matterhorn Topco, Inc.(27)(28)(30)	LLC interest		N/A	N/A	1,088	10,874	—	—	%
Hissho Sushi Holdings, LLC(27)(28)(30)	Class A Units		N/A	N/A	7,502	60	92	—	%
						10,934	92	—	%
Healthcare equipment and services
KPCI Holdings, L.P.(27)(28)(30)	Class A Units		N/A	N/A	30	32,284	69,587	1.2	%
Maia Aggregator, LP(27)(28)(30)	Class A-2 Units		N/A	N/A	168,539	169	162	—	%
Patriot Holdings SCSp (dba Corza Health, Inc.)(27)(28)(29)(30)	Class B Units		N/A	N/A	97,833	162	696	—	%
Patriot Holdings SCSp (dba Corza Health, Inc.)(17)(27)(28)(29)	Class A Units		8.00% PIK	N/A	7,104	10,342	10,343	0.2	%
Rhea Acquisition Holdings, LP(27)(28)(30)	Series A-2 Units		N/A	N/A	119,048	119	183	—	%
						43,076	80,971	1.4	%
Healthcare providers and services

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
KOBHG Holdings, L.P. (dba OB Hospitalist)(27)(28)(30)	Class A Interests		N/A	N/A	6,670	6,670	6,102	0.1	%
KWOL Acquisition Inc. (dba Worldwide Clinical Trials)(27)(28)(30)	Class A Interest		N/A	N/A	452	4,518	4,518	0.1	%
Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers)(17)(27)(28)	Series A Preferred Stock		15.00% PIK	N/A	13,605	13,393	13,231	0.2	%
XOMA Corporation(27)(28)(30)	Warrants		N/A	N/A	30	205	367	—	%
						24,786	24,218	0.4	%
Healthcare technology
BEHP Co-Investor II, L.P.(27)(28)(29)(30)	LP Interest		N/A	N/A	1,270	1,043	1,297	—	%
WP Irving Co-Invest, L.P.(27)(28)(29)(30)	Partnership Units		N/A	N/A	1,250,000	959	1,276	—	%
Minerva Holdco, Inc.(17)(27)(28)	Senior A Preferred Stock		10.75% PIK	N/A	7,000	9,180	8,961	0.2	%
						11,182	11,534	0.2	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Household products
Evology, LLC(27)(28)(30)	Class B Units		N/A	N/A	451	2,160	1,422	—	%
						2,160	1,422	—	%
Human resource support services
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.)(17)(27)(28)	Series A Preferred Stock		10.50% PIK	N/A	38,500	50,136	43,844	0.7	%
						50,136	43,844	0.7	%
Insurance
Accelerate Topco Holdings, LLC(27)(28)(30)	Common Units		N/A	N/A	513	14	22	—	%
Evolution Parent, LP (dba SIAA)(27)(28)(30)	LP Interest		N/A	N/A	42,838	4,284	4,874	0.1	%
GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway)(27)(28)(30)	LP Interest		N/A	N/A	638	638	630	—	%
GoHealth, Inc.(5)(27)(30)	Common stock		N/A	N/A	68,125	5,234	639	—	%
Hockey Parent Holdings, L.P.(27)(28)(30)	Class A Common Units		N/A	N/A	10,000	10,010	10,478	0.2	%
PCF Holdco, LLC (dba PCF Insurance Services)(17)(27)(28)	Series A Preferred Units		15.00% PIK	N/A	16,644	14,631	18,126	0.3	%
PCF Holdco, LLC (dba PCF Insurance Services)(27)(28)(30)	Class A Units		N/A	N/A	14,772,724	37,463	65,120	1.1	%
PCF Holdco, LLC (dba PCF Insurance Services)(27)(28)(30)	Class A Unit Warrants		N/A	N/A	1,288,200	4,396	3,780	0.1	%
						76,670	103,669	1.8	%
Internet and software services
AlphaSense, LLC(27)(28)(30)	Series E Preferred Shares		N/A	N/A	3,386	152	152	—	%
BCTO WIW Holdings, Inc. (dba When I Work)(27)(28)(30)	Class A Common Stock		N/A	N/A	13,000	1,300	767	—	%
Brooklyn Lender Co-Invest 2, L.P. (dba Boomi)(27)(28)(30)	Common Units		N/A	N/A	7,503,843	7,504	9,685	0.2	%
Elliott Alto Co-Investor Aggregator L.P.(27)(28)(29)(30)	LP Interest		N/A	N/A	3,134	3,155	4,379	0.1	%
Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC)(27)(28)(29)(30)	LP Interest		N/A	N/A	1,233	1,233	1,469	—	%
MessageBird Holding B.V.(27)(28)(29)(30)	Extended Series C Warrants		N/A	N/A	122,890	753	133	—	%
Project Alpine Co-Invest Fund, LP(27)(28)(29)(30)	LP Interest		N/A	N/A	10,000	10,006	11,817	0.2	%
Project Hotel California Co-Invest Fund, L.P.(27)(28)(29)(30)	LP Interest		N/A	N/A	2,685	2,687	3,053	0.1	%
Thunder Topco L.P. (dba Vector Solutions)(27)(28)(30)	Common Units		N/A	N/A	3,829,614	3,830	4,298	0.1	%
VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.)(17)(27)(28)	Series A Preferred Stock		9.00% PIK	N/A	21,250	25,029	25,582	0.4	%
WMC Bidco, Inc. (dba West Monroe)(17)(27)(28)	Senior Preferred Stock		11.25% PIK	N/A	16,692	22,812	22,013	0.4	%
Zoro TopCo, Inc. (dba Zendesk, Inc.)(17)(27)(28)	Series A Preferred Equity		12.50% PIK	N/A	9,554	11,707	12,007	0.2	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)		Fair Value		Percentage of Net Assets
Zoro TopCo, L.P. (dba Zendesk, Inc.)(27)(28)(30)	Class A Common Units		N/A	N/A	796,165	7,962		8,669		0.1	%
						98,130		104,024		1.8	%
Manufacturing
Gloves Holdings, LP (dba Protective Industrial Products)(27)(28)(30)	LP Interest		N/A	N/A	32,500	3,250		3,847		0.1	%
Windows Entities(27)(28)(31)	LLC Units		N/A	N/A	31,849	60,318		138,628		2.3	%
						63,568		142,475		2.4	%
Total non-controlled/non-affiliated portfolio company equity investments						$	636,262	$	783,464	13.2	%
Total non-controlled/non-affiliated portfolio company investments						$	11,729,785	$	11,710,694	195.7	%

Non-controlled/affiliated portfolio company investments(25)
Debt Investments
Education
Pluralsight, LLC(14)(27)	First lien senior secured loan	S +	7.50% PIK	8/2029	18,929	18,929		18,929		0.3	%
Pluralsight, LLC(14)(27)	First lien senior secured loan	S +	4.50% (1.50% PIK)	8/2029	18,929	18,929		18,929		0.3	%
Pluralsight, LLC(10)(27)	First lien senior secured delayed draw term loan	S +	4.50%	8/2029	—	—		—		—	%
Pluralsight, LLC(10)(27)	First lien senior secured revolving loan	S +	4.50%	8/2029	—	—		—		—	%
						37,858		37,858		0.6	%
Specialty retail
Ideal Image Development, LLC(14)(27)	First lien senior secured loan	S +	6.50% PIK	2/2029	4,655	4,615		4,562		0.1	%
Ideal Image Development, LLC(10)(16)(27)	First lien senior secured revolving loan	S +	6.50% PIK	2/2029	1,529	1,529		1,492		—	%
						6,144		6,054		0.1	%
Total non-controlled/affiliated portfolio company debt investments						$	44,002	$	43,912	0.7	%

Equity Investments
Education
Paradigmatic Holdco LLC (dba Pluralsight)(27)(28)	Common stock		N/A	N/A	6,310	16,742		16,741		0.3	%
						16,742		16,741		0.3	%
Pharmaceuticals
LSI Financing 1 DAC(10)(27)(28)(29)	Preferred equity		N/A	N/A	18,949,711	27,821		29,534		0.5	%
						27,821		29,534		0.5	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)		Fair Value		Percentage of Net Assets
Specialty retail
Ideal Topco, L.P.(27)(28)(30)	Class A-1 Preferred Units		N/A	N/A	9,146	9,146		8,780		0.1	%
Ideal Topco, L.P.(27)(28)(30)	Class A-2 Common Units		N/A	N/A	6,220	—		—		—	%
						9,146		8,780		0.1	%
Total non-controlled/affiliated portfolio company equity investments						$	53,709	$	55,055	0.9	%
Total non-controlled/affiliated portfolio company investments						$	97,711	$	98,967	1.6	%

Controlled/affiliated portfolio company investments(26)
Debt Investments
Advertising and media
Swipe Acquisition Corporation (dba PLI)(14)(27)	First lien senior secured loan	S +	8.00%	6/2026	72,529	72,491		72,529		1.2	%
Swipe Acquisition Corporation (dba PLI)(10)(27)	Letter of credit	S +	8.00%	6/2026	—	1		—		—	%
						72,492		72,529		1.2	%
Asset based lending and fund finance
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(17)(27)(29)	First lien senior secured loan		12.00% PIK	7/2030	42,511	42,511		42,511		0.7	%
AAM Series 2.1 Aviation Feeder, LLC(17)(27)(29)	First lien senior secured loan		12.00% PIK	11/2030	39,933	39,933		39,933		0.7	%
						82,444		82,444		1.4	%
Distribution
PS Operating Company LLC (fka QC Supply, LLC)(11)(14)	First lien senior secured loan	S +	6.00% PIK	12/2026	14,879	13,366		3,906		0.1	%
PS Operating Company LLC (fka QC Supply, LLC)(10)(11)(14)	First lien senior secured revolving loan	S +	6.00% PIK	12/2026	4,274	3,857		269		—	%
						17,223		4,175		0.1	%
Household products
Walker Edison Furniture Company LLC(11)(14)(27)	First lien senior secured loan	S +	6.75% PIK	3/2027	30,004	23,491		11,551		0.2	%
Walker Edison Furniture Company LLC(10)(11)(14)(27)	First lien senior secured delayed draw term loan	S +	6.75% PIK	3/2027	6,697	6,464		2,233		—	%
Walker Edison Furniture Company LLC(11)(14)(27)	First lien senior secured revolving loan	S +	6.75% PIK	3/2027	11,241	11,255		7,728		0.1	%
						41,210		21,512		0.3	%
Infrastructure and environmental services
Eagle Infrastructure Services, LLC(14)	First lien senior secured loan	S +	7.50%	4/2028	87,138	85,816		86,702		1.5	%
						85,816		86,702		1.5	%
Total controlled/affiliated portfolio company debt investments						$	299,185	$	267,362	4.5	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(4)(8)(12)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)		Fair Value		Percentage of Net Assets
Equity Investments
Advertising and media
New PLI Holdings, LLC (dba PLI)(27)(28)(30)	Class A Common Units		N/A	N/A	86,745	48,007		92,705		1.6	%
						48,007		92,705		1.6	%
Asset based lending and fund finance
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(10)(27)(28)(29)(30)	LLC Interest		N/A	N/A	26,763	26,771		31,160		0.5	%
AAM Series 2.1 Aviation Feeder, LLC(10)(27)(28)(29)(30)	LLC Interest		N/A	N/A	17,317	17,361		17,811		0.3	%
Wingspire Capital Holdings LLC(9)(10)(28)	LLC Interest		N/A	N/A	445,405	445,405		524,468		8.8	%
						489,537		573,439		9.6	%
Distribution
PS Op Holdings LLC (fka QC Supply, LLC)(28)(30)	Class A Common Units		N/A	N/A	248,271	4,300		—		—	%
						4,300		—		—	%
Household products
Walker Edison Holdco LLC(27)(28)(30)	Common Units		N/A	N/A	245,906	23,762		—		—	%
						23,762		—		—	%
Infrastructure and environmental services
Eagle Infrastructure Services, LLC(28)(30)	Common Units		N/A	N/A	576,276	24,058		25,099		0.4	%
						24,058		25,099		0.4	%
Insurance
Fifth Season Investments LLC(27)(28)	Class A Units		N/A	N/A	28	265,441		282,923		4.7	%
						265,441		282,923		4.7	%
Joint ventures
OBDC SLF LLC (fka Blue Owl Capital Corporation Senior Loan Fund LLC)(7)(9)(28)(29)	LLC interest		N/A	N/A	397,151	397,151		374,915		6.3	%
Blue Owl Credit SLF LLC(7)(9)(27)(28)(29)(30)	LLC interest		N/A	N/A	21,438	21,453		21,432		0.4	%
						418,604		396,347		6.7	%
Total controlled/affiliated portfolio company equity investments						$	1,273,709	$	1,370,513	23.0	%
Total controlled/affiliated portfolio company investments						$	1,572,894	$	1,637,875	27.5	%
Total Investments						$	13,400,390	$	13,447,536	224.8	%


	Interest Rate Swaps as of September 30, 2024
	Company Receives	Company Pays	Maturity Date	Notional Amount		Fair Value		Upfront Payments/Receipts	Change in Unrealized Appreciation / (Depreciation)		Hedged Instrument	Footnote Reference

Interest rate swap	2.63%	S + 1.769%	1/15/2027	$	500,000	$	(28,485)	—	$	13,597	2027 Notes	Note 5
Interest rate swap	5.95%	S + 2.118%	2/15/2029	600,000		13,350		—	13,350		2029 Notes	Note 5
Total				$	1,100,000				$	26,947

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)

_______________

(1)Certain portfolio company investments are subject to contractual restrictions on sales. Refer to footnote 28 for additional information on our restricted securities.

(2)The amortized cost represents the original cost adjusted for the amortization or accretion of premium or discount, as applicable, on debt investments using the effective interest method.

(3)As of September 30, 2024, the net estimated unrealized loss for U.S. federal income tax purposes was $81.4 million based on a tax cost basis of $13.5 billion. As of September 30, 2024, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $481.0 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $399.6 million.

(4)Unless otherwise indicated, all investments are considered Level 3 investments.

(5)Level 1 investment.

(6)Level 2 investment.

(7)Investment measured at net asset value (“NAV”).

(8)Unless otherwise indicated, the Company’s portfolio companies are pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facility and CLOs. See Note 5 “Debt.”

(9)Investment is not pledged as collateral for the credit facilities.

(10)Position or portion thereof is an unfunded loan or equity commitment. See Note 7 “Commitments and Contingencies.”

(11)Loan was on non-accrual status as of September 30, 2024.

(12)Unless otherwise indicated, loan contains a variable rate structure and may be subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to either the Secured Overnight Financing Rate (“SOFR” or “S,” which can include one-, three-, six- or twelve-month SOFR), Euro Interbank Offered Rate (“EURIBOR”or “E”,which can include one-, three- or six-month EURIBOR), SONIA (“SONIA” or “SA”), Australian Bank Bill Swap Bid Rate (“BBSY” or “BB”) (which can include one-, three-, or six-month BBSY) or an alternate base rate (which can include the Federal Funds Effective Rate or the Prime Rate), at the borrower’s option, and which reset periodically based on the terms of the loan agreement.

(13)The interest rate on these loans is subject to 1 month SOFR, which as of September 30, 2024 was 4.85%.

(14)The interest rate on these loans is subject to 3 month SOFR, which as of September 30, 2024 was 4.59%.

(15)The interest rate on these loans is subject to 6 month SOFR, which as of September 30, 2024 was 4.25%.

(16)The interest rate on these loans is subject to 12 month SOFR, which as of September 30, 2024 was 3.78%.

(17)Investment contains a fixed-rate structure.

(18)The interest rate on this loan is subject to Prime, which as of September 30, 2024 was 8.00%

(19)The interest rate on this loan is subject to 3 month EURIBOR, which as of September 30, 2024 was 3.28%.

(20)The interest rate on this loan is subject to 6 month EURIBOR, which as of September 30, 2024 was 3.11%.

(21)The interest rate on this loan is subject to 3 month BBSY, which as of September 30, 2024 was 4.43%

(22)The interest rate on this loan is subject to SONIA, which as of September 30, 2024 was 4.95%.

(23)The negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value is the result of the capitalized discount on the loan.

(24)The date disclosed represents the commitment period of the unfunded term loan. Upon expiration of the commitment period, the funded portion of the term loan may be subject to a longer maturity date.

(25)As defined in the 1940 Act, the Company is deemed to be an “affiliated person” of this portfolio company as the Company owns more than 5% but less than 25% of the portfolio company's voting securities or has the power to exercise control over management or policies of such portfolio company, including through a management agreement (“non-controlled affiliate”). Transactions related to investments in non-controlled affiliates for the period ended September 30, 2024 were as follows:


($ in thousands)	Fair value as of December 31, 2023		Gross Additions (a)		Gross Reductions(b)		Net Change in Unrealized Gains (Losses)		Fair value as of September 30, 2024		Interest and PIK Income		Dividend Income		Other Income
LSI Financing 1 DAC	$	19,988	$	12,391	$	(3,547)	$	702	$	29,534	$	—	$	74	$	—
Ideal Image Development, LLC	—		15,285		—		(451)		14,834		423		—		5

Pluralsight, Inc.	—		54,599		—		—		54,599		468		—		6
Total Non-Controlled Affiliates	$	19,988	$	82,275	$	(3,547)	$	251	$	98,967	$	891	$	74	$	11

________________

(a)Gross additions may include increases in the cost basis of investments resulting from new investments, amounts related to payment-in-kind (“PIK”) interest capitalized and added to the principal balance of the respective loans, the accretion of discounts, the exchange of one or more existing investments for one or more new investments and the movement at fair value of an existing portfolio company into this controlled affiliated category from a different category.

(b)Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments and sales, return of capital, the amortization of premiums and the exchange of one or more existing securities for one or more new securities.

(26)As defined in the 1940 Act, the Company is deemed to be both an “Affiliated Person” and has “Control” of this portfolio company as the Company owns more than 25% of the portfolio company’s outstanding voting securities or has the power to exercise control over management or policies of such portfolio company, including through a management agreement (“controlled affiliate”). The Company’s investment in controlled affiliates for the period ended September 30, 2024, were as follows:

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)


($ in thousands)	Fair value as of December 31, 2023		Gross Additions (a)		Gross Reductions(b)		Net Change in Unrealized Gains (Losses)		Fair value as of September 30, 2024		Interest and PIK Income		Dividend Income		Other Income
Controlled Affiliates
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(d)	$	64,839	$	4,653	$	(182)	$	4,361	$	73,671	$	2,599	$	—	$	—
AAM Series 2.1 Aviation Feeder, LLC(d)	78,476		19,484		(40,654)		438		57,744		4,795		—		—
Blue Owl Credit SLF LLC(c)	—		21,432		—		—		21,432		—		—		—
Eagle Infrastructure Super LLC	111,103		156		(398)		940		111,801		8,866		2,700		38
Fifth Season Investments LLC (fka Chapford SMA Partnership, L.P.)	156,794		108,642		—		17,487		282,923		—		15,771		—
OBDC SLF LLC (fka Blue Owl Capital Corporation Senior Loan Fund LLC)(c)	342,786		98,438		(54,249)		(12,060)		374,915		—		42,634		—
PS Operating Company LLC (fka QC Supply, LLC)	15,809		829		(669)		(11,794)		4,175		(17)		—		—
Swipe Acquisition Corporation (dba PLI)	160,036		11,767		(1,335)		(5,234)		165,234		7,579		2,046		503
Walker Edison Furniture Company, LLC	37,499		6,484		—		(22,471)		21,512		—		—		9
Wingspire Capital Holdings LLC	461,062		82,260		(25,000)		6,146		524,468		—		30,000		—
Total Controlled Affiliates	$	1,428,404	$	354,145	$	(122,487)	$	(22,187)	$	1,637,875	$	23,822	$	93,151	$	550

________________

(c)For further description of the Company's investment in OBDC SLF and Blue Owl Credit SLF LLC (“Credit SLF”), see Note 4 “Investments.”

(d)In connection with its investment in AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC and AAM Series 2.1 Aviation Feeder, LLC (collectively, “Amergin Assetco”) the Company made a minority investment in Amergin Asset Management, LLC, which has entered into a Servicing Agreement with Amergin Assetco.

(27)Represents co-investment made with the Company’s affiliates in accordance with the terms of the exemptive relief that the Company received from the U.S. Securities and Exchange Commission. See Note 3 “Agreements and Related Party Transactions.”

(28)Securities acquired in transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”) and may be deemed to be “restricted securities” under the Securities Act. As of September 30, 2024, the aggregate fair value of these securities is $2.21 billion or 37.0% of the Company’s net assets. The acquisition dates of the restricted securities are as follows:

Portfolio Company

Investment

Acquisition Date

AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC**

LLC Interest

7/1/2022

AAM Series 2.1 Aviation Feeder, LLC**

LLC Interest

7/1/2022

Alphasense, LLC

Series E Preferred Shares

6/27/2024

Amergin Asset Management, LLC**

Class A Units

7/1/2022

Accelerate topco Holdings, LLC

Common Units

9/1/2022

ASP Conair Holdings LP

Class A Units

5/17/2021

BCTO WIW Holdings, Inc. (dba When I Work)

Class A Common Stock

11/2/2021

BEHP Co-Investor II, L.P.

LP Interest

5/11/2022

Blend Labs, Inc.

Warrants

7/2/2021

Blue Owl Credit SLF LLC*

LLC Interest

8/1/2024

Brooklyn Lender Co-Invest 2, L.P. (dba Boomi)

Common Units

10/1/2021

CD&R Value Building Partners I, L.P. (dba Belron)

LP Interest

12/2/2021

Denali Holding, LP (dba Summit Companies)

Class A Units

9/15/2021

Dodge Construction Network Holdings, LP

Class A-2 Common Units

2/23/2022

Dodge Construction Network Holdings, LP

Series A Preferred Units

2/23/2022

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)

Portfolio Company

Investment

Acquisition Date

Eagle Infrastructure Super LLC

Common Units

3/31/2023

Elliott Alto Co-Investor Aggregator L.P.

LP Interest

9/27/2022

Evology, LLC

Class B Units

1/24/2022

Evolution Parent, LP (dba SIAA)

LP Interest

4/30/2021

Fifth Season Investments LLC (fka Chapford SMA Partnership, L.P.)**

Class A Units

7/18/2022

Gloves Holdings, LP (dba Protective Industrial Products)

LP Interest

12/29/2020

GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway)

LP Interest

12/16/2021

Hercules Buyer, LLC (dba The Vincit Group)

Common Units

12/15/2020

HFS Matterhorn Topco, Inc.

Common Units

11/23/2018

Hissho Sushi Holdings, LLC

Class A units

5/17/2022

Hockey Parent Holdings L.P.

Class A Units

9/14/2023

Ideal Topco, L.P.

Class A-1 Preferred Units

2/20/2024

Ideal Topco, L.P.

Class A-2 Common Units

2/20/2024

Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC)

LP Interest

6/8/2022

Knockout Intermediate Holdings I Inc. (dba Kaseya)

Perpetual Preferred Stock

6/23/2022

KOBHG Holdings, L.P. (dba OB Hospitalist)

Class A Interests

9/27/2021

KPCI Holdings, L.P.

Class A Units

11/30/2020

KWOL Acquisition Inc. (dba Worldwide Clinical Trials)

Class A Interest

11/30/2023

LSI Financing 1 DAC**

Preferred equity

12/14/2022

Maia Aggregator, LP

Class A-2 Units

2/1/2022

MessageBird Holding B.V.

Extended Series C Warrants

5/5/2021

Metis HoldCo, Inc. (dba Mavis Tire Express Services)

Series A Convertible Preferred Stock

5/4/2021

Minerva Holdco, Inc.

Series A Preferred Stock

2/15/2022

New PLI Holdings, LLC (dba PLI)

Class A Common Units

12/23/2020

OBDC SLF LLC (fka Blue Owl Capital Corporation Senior Loan Fund LLC)*

LLC Interest

6/20/2017

Patriot Holdings SCSp (dba Corza Health, Inc.)

Class B Units

1/29/2021

Patriot Holdings SCSp (dba Corza Health, Inc.)

Class A Units

1/29/2021

PCF Holdco, LLC (dba PCF Insurance Services)

Class A Units

11/1/2021

PCF Holdco, LLC (dba PCF Insurance Services)

Series A Preferred Units

2/16/2023

PCF Holdco, LLC (dba PCF Insurance Services)

Class A Unit Warrants

2/16/2023

Paradigmatic Holdco LLC (dba Pluralsight, LLC)

Common stock

8/22/2024

Project Alpine Co-Invest Fund, LP

LP Interest

6/10/2022

Project Hotel California Co-Invest Fund, L.P.

LP Interest

8/9/2022

PS Op Holdings LLC (fka QC Supply, LLC)

Class A Common Units

12/21/2021

Rhea Acquisition Holdings, LP

Series A-2 Units

2/18/2022

Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers)

Series A Preferred Stock

11/15/2023

Space Exploration Technologies Corp.

Class A Common Stock

3/25/2021

Space Exploration Technologies Corp.

Class C Common Stock

3/25/2021

Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand)

Series A Preferred Stock

10/14/2021

Thunder Topco L.P. (dba Vector Solutions)

Common Units

6/30/2021

VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.)

Series A Preferred Stock

10/15/2021

Walker Edison Holdco LLC

Common Units

3/1/2023

Windows Entities

LLC Units

1/16/2020

Wingspire Capital Holdings LLC**

LLC Interest

9/24/2019

WMC Bidco, Inc. (dba West Monroe)

Senior Preferred Stock

11/9/2021

WP Irving Co-Invest, L.P.

Partnership Units

5/18/2022

XOMA Corporation

Warrants

12/15/2023

Zoro TopCo, L.P.

Series A Preferred Stock

11/22/2022

Zoro TopCo, L.P.

Class A Common Units

11/22/2022

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of September 30, 2024

(Amounts in thousands, except share amounts)

(Unaudited)

* Refer to Note 4 “Investments – OBDC SLF LLC” and “Investments – Credit SLF LLC” for further information.

** Refer to Note 3 “Agreements and Related Party Transactions – Controlled/Affiliated Portfolio Companies.”

(29)This portfolio company is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of total assets. As of September 30, 2024, non-qualifying assets represented 13.0% of total assets as calculated in accordance with the regulatory requirements.

(30)Investment is non-income producing.

(31)Investment represents multiple underlying investments in related entities under common management. These underlying investments are on identical terms and include Midwest Custom Windows, LLC with a fair value of $24.1 million, Greater Toronto Custom Windows, Corp. with a fair value of $10.0 million, Garden State Custom Windows, LLC with a fair value of $33.4 million, Long Island Custom Windows, LLC with a fair value of $28.9 million, Jemico, LLC with a fair value of $23.1 million, Atlanta Custom Windows, LLC with a fair value of $11.5 million and Fairchester Custom Windows with a fair value of $7.6 million as of September 30, 2024. Greater Toronto Custom Windows, Corp. is considered a non-qualifying asset.

(32)We invest in this portfolio company through underlying blocker entities Hercules Blocker 1 LLC, Hercules Blocker 2 LLC, Hercules Blocker 3 LLC, Hercules Blocker 4 LLC, and Hercules Blocker 5 LLC.

The accompanying notes are an integral part of these consolidated financial statements.

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units		Amortized Cost(2)(3)		Fair Value		Percentage of Net Assets
Non-controlled/non-affiliated portfolio company investments
Debt Investments
Advertising and media
Circana Group, L.P. (fka The NPD Group, L.P.)(13)(25)	First lien senior secured loan	S +	6.25% (2.75% PIK)	12/2028	$	19,141	$	18,813	$	18,949	0.3	%
Circana Group, L.P. (fka The NPD Group, L.P.)(10)(13)(25)	First lien senior secured revolving loan	S +	5.75%	12/2027	272		250		257		—	%
Global Music Rights, LLC(14)(25)	First lien senior secured loan	S +	5.75%	8/2028	7,350		7,242		7,350		0.1	%
Global Music Rights, LLC(10)(21)(25)	First lien senior secured revolving loan	S +	5.75%	8/2027	—		(8)		—		—	%
							26,297		26,556		0.4	%
Aerospace and defense
Aviation Solutions Midco, LLC (dba STS Aviation)(14)(25)	First lien senior secured loan	S +	7.25%	1/2025	210,713		209,873		213,873		3.6	%
Peraton Corp.(6)(14)(25)	Second lien senior secured loan	S +	7.75%	2/2029	45,899		45,396		45,554		0.8	%
Valence Surface Technologies LLC(14)(25)	First lien senior secured loan	S +	7.75%	6/2025	136,788		136,262		120,375		2.0	%
Valence Surface Technologies LLC(10)(14)(25)	First lien senior secured revolving loan	S +	7.75%	6/2025	11,106		11,068		9,767		0.2	%
							402,599		389,569		6.6	%
Asset based lending and fund finance
Hg Genesis 8 Sumoco Limited(20)(25)(27)	Unsecured facility	SA +	6.00% PIK	8/2025	£41,591		54,412		53,019		0.9	%
Hg Genesis 9 SumoCo Limited(18)(25)(27)	Unsecured facility	E +	6.00%PIK	3/2027	£48,628		53,223		53,717		0.9	%
Hg Saturn Luchaco Limited(20)(25)(27)	Unsecured facility	SA +	7.50% PIK	3/2026	£111,764		150,574		142,477		2.4	%
							258,209		249,213		4.2	%
Automotive
Spotless Brands, LLC(14)(25)	First lien senior secured loan	S +	6.50%	7/2028	48,120		47,341		47,759		0.8	%
Spotless Brands, LLC(10)(13)(25)	First lien senior secured revolving loan	S +	6.50%	7/2028	282		262		272		—	%
							47,603		48,031		0.8	%
Buildings and real estate
Associations, Inc.(14)(25)	First lien senior secured loan	S +	6.50% (2.50% PIK)	7/2027	365,892		363,758		364,063		6.0	%
Associations, Inc.(10)(14)(22)(25)	First lien senior secured delayed draw term loan	S +	6.50% (2.50% PIK)	6/2024	49,653		49,311		49,403		0.8	%
Associations, Inc.(10)(14)(25)	First lien senior secured revolving loan	S +	6.50%	7/2027	11,633		11,441		11,468		0.2	%
REALPAGE, INC.(6)(13)(25)	Second lien senior secured loan	S +	6.50%	4/2029	34,501		34,119		34,414		0.6	%
							458,629		459,348		7.6	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Business services
Access CIG, LLC(14)(25)	Second lien senior secured loan	S +	7.75%	2/2026	58,760	58,523	58,760	1.0	%
CIBT Global, Inc.(11)(14)(25)	First lien senior secured loan	S +	5.25%	5/2026	942	588	631	—	%
CIBT Global, Inc.(11)(14)(25)	Second lien senior secured loan	S +	7.75% PIK	12/2026	63,678	26,716	8,437	0.1	%
Denali BuyerCo, LLC (dba Summit Companies)(14)(25)	First lien senior secured loan	S +	5.50%	9/2028	52,750	52,193	52,617	0.9	%
Denali BuyerCo, LLC (dba Summit Companies)(10)(21)(25)	First lien senior secured revolving loan	S +	5.50%	9/2027	—	(19)	(7)	—	%
Diamondback Acquisition, Inc. (dba Sphera)(13)(25)	First lien senior secured loan	S +	5.50%	9/2028	4,067	4,007	4,006	0.1	%
Entertainment Benefits Group, LLC(13)(25)	First lien senior secured loan	S +	5.25%	9/2025	854	849	854	—	%
Entertainment Benefits Group, LLC(10)(13)(25)	First lien senior secured revolving loan	S +	5.25%	9/2025	53	52	53	—	%
Fullsteam Operations, LLC(14)(25)	First lien senior secured loan	S +	8.25%	11/2029	8,938	8,672	8,669	0.1	%
Fullsteam Operations, LLC(10)(14)(22)(25)	First lien senior secured delayed draw term loan	S +	8.25%	5/2025	851	797	796	—	%
Fullsteam Operations, LLC(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	8.25%	11/2025	—	(18)	(19)	—	%
Fullsteam Operations, LLC(10)(21)(25)	First lien senior secured revolving loan	S +	8.25%	11/2029	—	(15)	(15)	—	%
Gainsight, Inc.(14)(25)	First lien senior secured loan	S +	6.75% PIK	7/2027	23,841	23,618	23,602	0.4	%
Gainsight, Inc.(10)(14)(25)	First lien senior secured revolving loan	S +	6.75% PIK	7/2027	1,711	1,676	1,677	—	%
Hercules Borrower, LLC (dba The Vincit Group)(14)(25)	First lien senior secured loan	S +	6.25%	12/2026	175,092	173,628	174,654	2.9	%
Hercules Borrower, LLC (dba The Vincit Group)(10)(21)(25)	First lien senior secured revolving loan	S +	6.25%	12/2026	—	(155)	(52)	—	%
Hercules Buyer, LLC (dba The Vincit Group)(25)(29)(30)	Unsecured notes		0.48% PIK	12/2029	5,184	5,184	5,800	0.1	%
Kaseya Inc.(14)(25)	First lien senior secured loan	S +	6.25% (2.50% PIK)	6/2029	18,892	18,580	18,845	0.3	%
Kaseya Inc.(10)(14)(22)(25)	First lien senior secured delayed draw term loan	S +	6.25% (2.50% PIK)	6/2024	70	60	70	—	%
Kaseya Inc.(10)(13)(25)	First lien senior secured revolving loan	S +	5.50%	6/2029	286	268	283	—	%
KPSKY Acquisition, Inc. (dba BluSky)(14)(25)	First lien senior secured loan	S +	5.25%	10/2028	4,889	4,817	4,840	0.1	%
KPSKY Acquisition, Inc. (dba BluSky)(10)(14)(22)(25)	First lien senior secured delayed draw term loan	S +	5.25%	11/2025	4	1	3	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Ping Identity Holding Corp.(13)(25)	First lien senior secured loan	S +	7.00%	10/2029	909	897	905	—	%
Ping Identity Holding Corp.(10)(21)(25)	First lien senior secured revolving loan	S +	7.00%	10/2028	—	(1)	—	—	%
						380,918	365,409	6.0	%
Chemicals
Advancion Holdings, LLC (fka Aruba Investments Holdings, LLC)(13)(25)	Second lien senior secured loan	S +	7.75%	11/2028	10,000	9,896	9,350	0.2	%
Gaylord Chemical Company, L.L.C.(14)(25)	First lien senior secured loan	S +	6.00%	3/2027	136,367	135,542	135,686	2.3	%
Gaylord Chemical Company, L.L.C.(10)(21)(25)	First lien senior secured revolving loan	S +	6.00%	3/2026	—	(59)	(66)	—	%
Velocity HoldCo III Inc. (dba VelocityEHS)(14)(25)	First lien senior secured loan	S +	5.75%	4/2027	21,769	21,468	21,769	0.4	%
Velocity HoldCo III Inc. (dba VelocityEHS)(10)(14)(25)	First lien senior secured revolving loan	S +	5.75%	4/2026	167	154	167	—	%
						167,001	166,906	2.9	%
Consumer products
Conair Holdings LLC(13)(25)	Second lien senior secured loan	S +	7.50%	5/2029	187,500	186,441	181,406	3.0	%
Feradyne Outdoors, LLC(14)(25)	First lien senior secured loan	S +	6.25%	5/2026	73,622	73,622	67,548	1.1	%
Foundation Consumer Brands, LLC(14)(25)	First lien senior secured loan	S +	6.25%	2/2027	3,197	3,197	3,197	0.1	%
Lignetics Investment Corp.(14)(25)	First lien senior secured loan	S +	6.00%	11/2027	34,637	34,337	34,378	0.6	%
Lignetics Investment Corp.(10)(14)(25)	First lien senior secured revolving loan	S +	6.00%	10/2026	3,922	3,888	3,886	0.1	%
SWK BUYER, Inc. (dba Stonewall Kitchen)(14)(25)	First lien senior secured loan	S +	5.25%	3/2029	743	731	715	—	%
SWK BUYER, Inc. (dba Stonewall Kitchen)(10)(21)(25)	First lien senior secured revolving loan	S +	5.25%	3/2029	—	(1)	(3)	—	%
WU Holdco, Inc. (dba Weiman Products, LLC)(14)(25)	First lien senior secured loan	S +	5.50%	3/2026	200,779	199,077	196,261	3.3	%
WU Holdco, Inc. (dba Weiman Products, LLC)(10)(14)(25)	First lien senior secured revolving loan	S +	5.50%	3/2025	10,371	10,282	9,939	0.2	%
						511,574	497,327	8.4	%
Containers and packaging
Arctic Holdco, LLC (dba Novvia Group)(14)(25)	First lien senior secured loan	S +	6.00%	12/2026	10,474	10,269	10,264	0.2	%
Arctic Holdco, LLC (dba Novvia Group)(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	6.00%	12/2024	—	(146)	(150)	—	%
Ascend Buyer, LLC (dba PPC Flexible Packaging)(14)(25)	First lien senior secured loan	S +	6.40%	10/2028	5,442	5,402	5,429	0.1	%
Ascend Buyer, LLC (dba PPC Flexible Packaging)(10)(13)(25)	First lien senior secured revolving loan	S +	6.40%	9/2027	188	185	187	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Fortis Solutions Group, LLC(14)(25)	First lien senior secured loan	S +	5.50%	10/2028	4,582	4,514	4,479	0.1	%
Fortis Solutions Group, LLC(10)(14)(25)	First lien senior secured revolving loan	S +	5.50%	10/2027	23	17	13	—	%
Indigo Buyer, Inc. (dba Inovar Packaging Group)(14)(25)	First lien senior secured loan	S +	6.25%	5/2028	888	880	886	—	%
Indigo Buyer, Inc. (dba Inovar Packaging Group)(10)(14)(25)	First lien senior secured revolving loan	S +	6.25%	5/2028	40	39	40	—	%
Pregis Topco LLC(13)(25)	Second lien senior secured loan	S +	6.91%	8/2029	160,000	157,962	160,000	2.7	%
						179,122	181,148	3.1	%
Distribution
ABB/Con-cise Optical Group LLC(14)(25)	First lien senior secured loan	S +	7.50%	2/2028	63,778	63,055	61,387	1.0	%
BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC)(14)(25)	First lien senior secured loan	S +	6.00%	10/2029	141,972	140,583	140,481	2.3	%
BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC)(10)(14)(22)(25)	First lien senior secured delayed draw term loan	S +	6.00%	10/2025	3,833	3,720	3,787	0.1	%
BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC)(10)(21)(25)	First lien senior secured revolving loan	S +	6.00%	10/2029	—	(117)	(126)	—	%
Endries Acquisition, Inc.(14)(25)	First lien senior secured loan	S +	5.25%	12/2028	81,889	81,278	81,275	1.3	%
Endries Acquisition, Inc.(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	5.25%	6/2024	—	(152)	(153)	—	%
Endries Acquisition, Inc.(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	5.25%	12/2025	—	(58)	(59)	—	%
Offen, Inc.(13)(25)	First lien senior secured loan	S +	5.00%	6/2026	18,641	18,569	18,641	0.3	%
						306,878	305,233	5.0	%
Education
Pluralsight, LLC(14)(25)	First lien senior secured loan	S +	8.00%	4/2027	99,450	98,803	96,218	1.6	%
Pluralsight, LLC(10)(14)(25)	First lien senior secured revolving loan	S +	8.00%	4/2027	4,845	4,811	4,642	0.1	%
						103,614	100,860	1.7	%
Financial services
Blackhawk Network Holdings, Inc.(13)(25)	Second lien senior secured loan	S +	7.00%	6/2026	106,400	106,016	106,400	1.8	%
Blend Labs, Inc.(13)(25)	First lien senior secured loan	S +	7.50%	6/2026	42,000	41,426	40,950	0.7	%
Finastra USA, Inc.(15)(25)(27)	First lien senior secured loan	S +	7.25%	9/2029	89,247	88,488	88,354	1.5	%
Finastra USA, Inc.(10)(13)(25)(27)	First lien senior secured revolving loan	S +	7.25%	9/2029	2,450	2,358	2,358	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
KRIV Acquisition Inc. (dba Riveron)(14)(25)	First lien senior secured loan	S +	6.25%	7/2029	6,333	6,154	6,159	0.1	%
KRIV Acquisition Inc. (dba Riveron)(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	6.25%	7/2025	—	(13)	(12)	—	%
KRIV Acquisition Inc. (dba Riveron)(10)(21)(25)	First lien senior secured revolving loan	S +	6.25%	7/2029	—	(23)	(23)	—	%
NMI Acquisitionco, Inc. (dba Network Merchants)(13)(25)	First lien senior secured loan	S +	5.75%	9/2025	36,383	36,167	36,202	0.6	%
NMI Acquisitionco, Inc. (dba Network Merchants)(10)(21)(25)	First lien senior secured revolving loan	S +	5.75%	9/2025	—	(8)	(8)	—	%
Smarsh Inc.(14)(25)	First lien senior secured loan	S +	5.75%	2/2029	762	756	760	—	%
Smarsh Inc.(10)(14)(22)(25)	First lien senior secured delayed draw term loan	S +	5.75%	2/2024	95	94	95	—	%
Smarsh Inc.(10)(25)	First lien senior secured revolving loan	S +	5.75%	2/2029	—	—	—	—	%
						281,415	281,235	4.7	%
Food and beverage
Balrog Acquisition, Inc. (dba Bakemark)(13)(25)	Second lien senior secured loan	S +	7.00%	9/2029	22,000	21,855	21,725	0.4	%
Blast Bidco Inc. (dba Bazooka Candy Brands)(14)(25)	First lien senior secured loan	S +	6.00%	10/2030	29,552	28,830	28,813	0.5	%
Blast Bidco Inc. (dba Bazooka Candy Brands)(10)(21)(25)	First lien senior secured revolving loan	S +	6.00%	10/2029	—	(83)	(86)	—	%
BP Veraison Buyer, LLC (dba Sun World)(14)(25)	First lien senior secured loan	S +	5.50%	5/2027	67,986	67,463	67,986	1.1	%
BP Veraison Buyer, LLC (dba Sun World)(10)(21)(25)	First lien senior secured revolving loan	S +	5.50%	5/2027	—	(61)	—	—	%
H-Food Holdings, LLC(14)(25)	Second lien senior secured loan	S +	7.00%	3/2026	121,800	120,730	79,779	1.3	%
Hissho Sushi Merger Sub, LLC(14)(25)	First lien senior secured loan	S +	5.50%	5/2028	892	885	892	—	%
Hissho Sushi Merger Sub, LLC(10)(21)(25)	First lien senior secured revolving loan	S +	5.50%	5/2028	—	(1)	—	—	%
Innovation Ventures HoldCo, LLC (dba 5 Hour Energy)(13)(25)	First lien senior secured loan	S +	6.25%	3/2027	125,000	123,403	123,439	2.1	%
Nellson Nutraceutical, LLC(14)(25)	First lien senior secured loan	S +	5.75%	12/2025	25,786	25,731	25,334	0.4	%
The Better Being Co., LLC (fka Nutraceutical International Corporation)(13)(25)	First lien senior secured loan	S +	7.50%	9/2026	194,819	193,385	175,337	2.9	%
The Better Being Co., LLC (fka Nutraceutical International Corporation)(10)(13)(25)	First lien senior secured revolving loan	S +	7.50%	9/2026	8,795	8,724	7,372	0.1	%
Ole Smoky Distillery, LLC(13)(25)	First lien senior secured loan	S +	5.50%	3/2028	868	855	855	—	%
Ole Smoky Distillery, LLC(10)(21)(25)	First lien senior secured revolving loan	S +	5.50%	3/2028	—	(2)	(2)	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Recipe Acquisition Corp. (dba Roland Corporation)(14)	Second lien senior secured loan	S +	9.00%	11/2024	32,000	31,993	32,000	0.5	%
Rushmore Investment III LLC (dba Winland Foods)(13)(25)	First lien senior secured loan	S +	6.00%	10/2030	149,328	146,982	146,939	2.4	%
Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC)(14)(25)	First lien senior secured loan	S +	4.50%	7/2025	43,069	42,846	41,454	0.7	%
Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC)(10)(14)(25)	First lien senior secured revolving loan	S +	4.50%	7/2025	3,120	3,120	2,783	—	%
Shearer's Foods, LLC(13)(25)	Second lien senior secured loan	S +	7.75%	9/2028	86,400	85,829	86,400	1.4	%
Tall Tree Foods, Inc.(11)(14)	First lien senior secured loan	S +	9.25% PIK	3/2024	67,657	59,541	55,816	0.9	%
Tall Tree Foods, Inc.(10)(11)(14)	First lien senior secured delayed draw term loan	S +	9.25% PIK	3/2024	4,951	3,017	4,084	0.1	%
Ultimate Baked Goods Midco, LLC(13)(25)	First lien senior secured loan	S +	6.25%	8/2027	80,413	79,049	80,413	1.3	%
Ultimate Baked Goods Midco, LLC(10)(21)(25)	First lien senior secured revolving loan	S +	6.25%	8/2027	—	(150)	—	—	%
						1,043,941	981,333	16.1	%
Healthcare equipment and services
Allied Benefit Systems Intermediate LLC(14)(25)	First lien senior secured loan	S +	5.25%	10/2030	845	833	833	—	%
Allied Benefit Systems Intermediate LLC(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	5.25%	10/2025	—	(1)	(1)	—	%
Bamboo US BidCo LLC(14)(25)	First lien senior secured loan	S +	6.00%	9/2030	4,923	4,779	4,775	0.1	%
Bamboo US BidCo LLC(18)(25)	First lien senior secured EUR term loan	E +	6.00%	9/2030	€ 3,063	3,148	3,282	0.1	%
Bamboo US BidCo LLC(10)(13)(22)(25)	First lien senior secured delayed draw term loan	S +	6.00%	3/2025	53	41	40	—	%
Bamboo US BidCo LLC(10)(21)(25)	First lien senior secured revolving loan	S +	6.00%	10/2029	—	(29)	(31)	—	%
Confluent Medical Technologies, Inc.(14)(25)	Second lien senior secured loan	S +	6.50%	2/2030	1,000	984	993	—	%
CSC MKG Topco LLC (dba Medical Knowledge Group)(13)(25)	First lien senior secured loan	S +	5.75%	2/2029	1,262	1,242	1,243	—	%
Medline Borrower, LP(10)(21)(25)	First lien senior secured revolving loan	S +	3.00%	10/2026	—	(91)	(72)	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Nelipak Holding Company(14)(25)	First lien senior secured loan	S +	4.25%	7/2026	2,262	2,243	2,262	—	%
Nelipak Holding Company(14)(25)	Second lien USD senior secured loan	S +	8.25%	7/2027	67,006	66,464	67,006	1.1	%
Nelipak Holding Company(10)(13)(25)	First lien senior secured USD revolving loan	S +	4.25%	7/2026	2,010	1,995	2,010	—	%
Nelipak Holding Company(10)(17)(25)	First lien senior secured EUR revolving loan	E +	4.50%	7/2026	€ 1,474	1,471	1,628	—	%
Nelipak Holding Company(18)(25)	Second lien EUR senior secured loan	E +	8.50%	7/2027	€ 60,100	66,718	66,224	1.1	%
Packaging Coordinators Midco, Inc.(13)(25)	Second lien senior secured loan	S +	7.00%	12/2029	196,044	193,136	195,553	3.2	%
Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.)(13)(25)(27)	First lien senior secured loan	S +	6.75%	1/2028	133,996	132,569	133,661	2.2	%
Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.)(10)(14)(25)(27)	First lien senior secured revolving loan	S +	6.75%	1/2026	2,901	2,784	2,867	—	%
PerkinElmer U.S. LLC(13)(25)	First lien senior secured loan	S +	6.75%	3/2029	909	893	909	—	%
PerkinElmer U.S. LLC(13)(25)	First lien senior secured loan	S +	5.75%	3/2029	14,624	14,477	14,477	0.2	%
Rhea Parent, Inc.(14)(25)	First lien senior secured loan	S +	5.50%	2/2029	762	750	758	—	%
						494,406	498,417	8.0	%
Healthcare providers and services
Covetrus, Inc.(14)(25)	Second lien senior secured loan	S +	9.25%	10/2030	5,000	4,907	4,988	0.1	%
Diagnostic Services Holdings, Inc. (dba Rayus Radiology)(13)(25)	First lien senior secured loan	S +	5.50%	3/2025	995	995	992	—	%
Engage Debtco Limited(14)(25)(27)	First lien senior secured loan	S +	5.75% (2.25% PIK)	7/2029	1,007	986	988	—	%
KWOL Acquisition Inc. (dba Worldwide Clinical Trials)(15)(25)	First lien senior secured loan	S +	6.25%	12/2029	61,659	60,447	60,438	1.0	%
KWOL Acquisition Inc. (dba Worldwide Clinical Trials)(10)(15)(25)	First lien senior secured revolving loan	S +	6.25%	12/2029	2,512	2,347	2,346	—	%
National Dentex Labs LLC (fka Barracuda Dental LLC)(14)(25)	First lien senior secured loan	S +	8.00% (3.00% PIK)	4/2026	108,201	107,517	106,307	1.8	%
National Dentex Labs LLC (fka Barracuda Dental LLC)(10)(13)(25)	First lien senior secured revolving loan	S +	7.00%	4/2026	7,024	6,935	6,860	0.1	%
Natural Partners, LLC(14)(25)(27)	First lien senior secured loan	S +	4.50%	11/2027	915	902	910	—	%
Natural Partners, LLC(10)(21)(25)(27)	First lien senior secured revolving loan	S +	4.50%	11/2027	—	(1)	—	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
OB Hospitalist Group, Inc.(14)(25)	First lien senior secured loan	S +	5.50%	9/2027	93,829	92,552	92,656	1.5	%
OB Hospitalist Group, Inc.(10)(13)(25)	First lien senior secured revolving loan	S +	5.50%	9/2027	5,857	5,669	5,668	0.1	%
Ex Vivo Parent Inc. (dba OB Hospitalist)(13)(25)	First lien senior secured loan	S +	9.75% PIK	9/2028	68,623	67,739	67,251	1.1	%
Pacific BidCo Inc.(15)(25)(27)	First lien senior secured loan	S +	5.75% (3.20% PIK)	8/2029	31,463	30,805	31,149	0.5	%
Pacific BidCo Inc.(10)(21)(22)(25)(27)	First lien senior secured delayed draw term loan	S +	5.75%	8/2025	—	(34)	—	—	%
PetVet Care Centers, LLC(13)(25)	First lien senior secured loan	S +	6.00%	11/2030	108,208	107,140	107,072	1.8	%
PetVet Care Centers, LLC(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	6.00%	11/2025	—	(69)	(7)	—	%
PetVet Care Centers, LLC(10)(21)(25)	First lien senior secured revolving loan	S +	6.00%	11/2029	—	(158)	(156)	—	%
Phoenix Newco, Inc. (dba Parexel)(13)(25)	Second lien senior secured loan	S +	6.50%	11/2029	190,000	188,478	190,000	3.2	%
Plasma Buyer LLC (dba PathGroup)(14)(25)	First lien senior secured loan	S +	5.75%	5/2029	672	661	659	—	%
Plasma Buyer LLC (dba PathGroup)(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	5.75%	5/2024	—	(1)	(2)	—	%
Plasma Buyer LLC (dba PathGroup)(10)(14)(25)	First lien senior secured revolving loan	S +	5.75%	5/2028	25	24	24	—	%
PPV Intermediate Holdings, LLC(14)(25)	First lien senior secured loan	S +	5.75%	8/2029	933	917	921	—	%
PPV Intermediate Holdings, LLC(10)(22)(25)	First lien senior secured delayed draw term loan	S +	6.00%	9/2025	—	—	—	—	%
PPV Intermediate Holdings, LLC(10)(21)(25)	First lien senior secured revolving loan	S +	5.75%	8/2029	—	(1)	(1)	—	%
Premier Imaging, LLC (dba LucidHealth)(14)(25)	First lien senior secured loan	S +	6.00%	1/2025	42,600	42,429	41,322	0.7	%
Quva Pharma, Inc.(13)(25)	First lien senior secured loan	S +	5.50%	4/2028	39,100	38,304	38,807	0.6	%
Quva Pharma, Inc.(10)(21)(25)	First lien senior secured revolving loan	S +	5.50%	4/2026	—	(55)	(30)	—	%
Tivity Health, Inc.(14)(25)	First lien senior secured loan	S +	6.00%	6/2029	988	967	980	—	%
Unified Women's Healthcare, LP(13)(25)	First lien senior secured loan	S +	5.50%	6/2029	10,902	10,823	10,902	0.2	%
Unified Women's Healthcare, LP(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	5.50%	10/2025	—	(55)	—	—	%
Unified Women's Healthcare, LP(10)(21)(25)	First lien senior secured revolving loan	S +	5.50%	6/2029	—	(1)	—	—	%
Vermont Aus Pty Ltd(14)(25)(27)	First lien senior secured loan	S +	5.50%	3/2028	983	964	973	—	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
XRL 1 LLC (dba XOMA)(25)(30)	First lien senior secured loan		9.88%	12/2038	32,500	31,812	31,769	0.5	%
XRL 1 LLC (dba XOMA)(10)(21)(22)(25)(30)	First lien senior secured delayed draw term loan		9.88%	12/2025	—	(37)	(56)	—	%
						803,908	803,730	13.2	%
Healthcare technology
BCPE Osprey Buyer, Inc. (dba PartsSource)(14)(25)	First lien senior secured loan	S +	5.75%	8/2028	117,584	116,205	116,114	1.9	%
BCPE Osprey Buyer, Inc. (dba PartsSource)(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	5.75%	10/2025	—	(244)	(64)	—	%
BCPE Osprey Buyer, Inc. (dba PartsSource)(10)(13)(25)	First lien senior secured revolving loan	S +	5.75%	8/2026	3,688	3,580	3,540	0.1	%
GI Ranger Intermediate, LLC (dba Rectangle Health)(14)(25)	First lien senior secured loan	S +	5.75%	10/2028	4,539	4,471	4,471	0.1	%
GI Ranger Intermediate, LLC (dba Rectangle Health)(10)(14)(25)	First lien senior secured revolving loan	S +	5.75%	10/2027	221	216	216	—	%
Imprivata, Inc.(14)(25)	Second lien senior secured loan	S +	6.25%	12/2028	882	874	882	—	%
Indikami Bidco, LLC (dba IntegriChain)(13)(25)	First lien senior secured loan	S +	6.00%	12/2030	12,677	12,392	12,391	0.2	%
Indikami Bidco, LLC (dba IntegriChain)(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	6.00%	12/2025	—	(18)	(14)	—	%
Indikami Bidco, LLC (dba IntegriChain)(10)(21)(25)	First lien senior secured revolving loan	S +	6.00%	6/2030	—	(35)	(36)	—	%
Ocala Bidco, Inc.(13)(25)	First lien senior secured loan	S +	6.25% (2.75% PIK)	11/2028	188,359	185,022	186,005	3.1	%
Ocala Bidco, Inc.(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	5.75%	5/2024	—	(166)	—	—	%
Ocala Bidco, Inc.(13)(25)	Second lien senior secured loan	S +	10.50% PIK	11/2033	113,351	111,794	112,217	1.9	%
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(14)(25)(27)	First lien senior secured loan	S +	6.50%	8/2026	116,603	115,847	113,397	1.9	%
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(14)(25)(27)	First lien senior secured revolving loan	S +	6.50%	8/2026	8,135	8,070	7,911	0.1	%
Interoperability Bidco, Inc. (dba Lyniate)(14)(25)	First lien senior secured loan	S +	7.00%	12/2026	65,785	65,502	64,799	1.1	%
Interoperability Bidco, Inc. (dba Lyniate)(10)(14)(25)	First lien senior secured revolving loan	S +	7.00%	12/2024	2,212	2,187	2,133	—	%
						625,697	623,962	10.4	%
Household products
Aptive Environmental, LLC(25)(30)	First lien senior secured loan		12.00% (6.00% PIK)	1/2026	12,987	11,578	13,311	0.2	%
HGH Purchaser, Inc. (dba Horizon Services)(14)(25)	First lien senior secured loan	S +	6.50%	11/2025	187,693	186,635	185,815	3.1	%
HGH Purchaser, Inc. (dba Horizon Services)(10)(14)(25)	First lien senior secured revolving loan	S +	6.50%	11/2025	16,383	16,304	16,217	0.3	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Mario Purchaser, LLC (dba Len the Plumber)(13)(25)	First lien senior secured loan	S +	5.75%	4/2029	12,911	12,700	12,846	0.2	%
Mario Purchaser, LLC (dba Len the Plumber)(10)(13)(22)(25)	First lien senior secured delayed draw term loan	S +	5.75%	4/2024	3,143	3,064	3,127	0.1	%
Mario Purchaser, LLC (dba Len the Plumber)(10)(13)(25)	First lien senior secured revolving loan	S +	5.75%	4/2028	414	394	407	—	%
Mario Midco Holdings, Inc. (dba Len the Plumber)(13)(25)	Unsecured facility	S +	10.75% PIK	4/2032	4,786	4,684	4,750	0.1	%
SimpliSafe Holding Corporation(13)(25)	First lien senior secured loan	S +	6.25%	5/2028	6,080	5,986	6,019	0.1	%
SimpliSafe Holding Corporation(10)(13)(22)(25)	First lien senior secured delayed draw term loan	S +	6.25%	5/2024	205	197	203	—	%
						241,542	242,695	4.1	%
Human resource support services
Cornerstone OnDemand, Inc.(13)(25)	Second lien senior secured loan	S +	6.50%	10/2029	115,833	114,458	108,883	1.8	%
IG Investments Holdings, LLC (dba Insight Global)(14)(25)	First lien senior secured loan	S +	6.00%	9/2028	49,878	49,142	49,504	0.8	%
IG Investments Holdings, LLC (dba Insight Global)(10)(21)(25)	First lien senior secured revolving loan	S +	6.00%	9/2027	—	(49)	(30)	—	%
						163,551	158,357	2.6	%
Infrastructure and environmental services
GI Apple Midco LLC (dba Atlas Technical Consultants)(13)(25)	First lien senior secured loan	S +	6.75%	4/2030	726	713	716	—	%
GI Apple Midco LLC (dba Atlas Technical Consultants)(10)(13)(22)(25)	First lien senior secured delayed draw term loan	S +	6.75%	4/2025	17	16	17	—	%
GI Apple Midco LLC (dba Atlas Technical Consultants)(10)(13)(25)	First lien senior secured revolving loan	S +	6.75%	4/2029	62	60	60	—	%
LineStar Integrity Services LLC(15)(25)	First lien senior secured loan	S +	7.25%	2/2026	51,732	51,922	49,016	0.8	%
LineStar Integrity Services LLC(14)(25)	First lien senior secured revolving loan	S +	7.25%	2/2026	9,903	9,736	9,383	0.2	%
Tamarack Intermediate, L.L.C. (dba Verisk 3E)(14)(25)	First lien senior secured loan	S +	5.75%	3/2028	866	854	856	—	%
Tamarack Intermediate, L.L.C. (dba Verisk 3E)(10)(14)(22)(25)	First lien senior secured delayed draw term loan	S +	5.75%	10/2025	32	30	31	—	%
Tamarack Intermediate, L.L.C. (dba Verisk 3E)(10)(21)(25)	First lien senior secured revolving loan	S +	5.75%	3/2028	—	(2)	(2)	—	%
						63,329	60,077	1.0	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2023

(Amounts in thousands, except share amounts)


Company(1)(4)(8)(31)	Investment	Interest		Maturity Date	Par / Units	Amortized Cost(2)(3)	Fair Value	Percentage of Net Assets
Insurance
Alera Group, Inc.(13)(25)	First lien senior secured loan	S +	6.00%	10/2028	34,461	33,891	34,461	0.6	%
AmeriLife Holdings LLC(13)(25)	First lien senior secured loan	S +	5.75%	8/2029	720	708	716	—	%
AmeriLife Holdings LLC(10)(14)(22)(25)	First lien senior secured delayed draw term loan	S +	5.75%	9/2024	150	147	149	—	%
AmeriLife Holdings LLC(10)(21)(22)(25)	First lien senior secured delayed draw term loan	S +	5.75%	10/2025	—	(1)	—	—	%
AmeriLife Holdings LLC(10)(21)(25)	First lien senior secured revolving loan	S +	5.75%	8/2028	—	(1)	—	—	%
Ardonagh Midco 3 PLC(15)(25)(27)	First lien senior secured USD term loan	S +	6.00%	7/2026	26,784	26,482	26,784	0.4	%