obdc-20260331

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 March 31, 2026


☐			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 May 1, 2026, the registrant had 496,305,424 shares of common stock, $0.01 par value per share, outstanding.

Table of Contents


		Page
PART I	FINANCIAL INFORMATION
Item 1.	Financial Statements	5
	Consolidated Statements of Assets and Liabilities as of March 31, 2026 (Unaudited) and December 31, 2025	5
	Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025 (Unaudited)	6
	Consolidated Statements of Changes in Net Assets for the Three Months Ended March 31, 2026 and 2025 (Unaudited)	7
	Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (Unaudited)	8
	Consolidated Schedules of Investments as of March 31, 2026 (Unaudited) and December 31, 2025	43
	Notes to Consolidated Financial Statements (Unaudited)	74
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	122
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	155
Item 4.	Controls and Procedures	156

PART II	OTHER INFORMATION
Item 1.	Legal Proceedings	158
Item 1A.	Risk Factors	158
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	158
Item 3.	Defaults Upon Senior Securities	158
Item 4.	Mine Safety Disclosures	158
Item 5.	Other Information	158
Item 6.	Exhibits	159
Signatures		160

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 inflation rates, fluctuating interest 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, changes in law or regulation, including the impact of tariff enactment and tax reductions, trade disputes with other countries, and the risk of recession or future government shutdowns 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 on our business and our portfolio companies;

•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, continued political unrest in various countries such as Venezuela, as well as political and social unrest in the Middle East and North Africa regions, uncertainty with respect to immigration, 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; 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. Financial Statements

Blue Owl Capital Corporation

Consolidated Statements of Assets and Liabilities

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


	As of March 31, 2026 (Unaudited)		As of December 31, 2025
Assets
Investments at fair value:
Non-controlled, non-affiliated investments (amortized cost of $13,091,070 and $14,060,097, respectively)	$	12,850,691	$	13,995,055
Non-controlled, affiliated investments (amortized cost of $188,128 and $176,078, respectively)	150,003		114,192
Controlled, affiliated investments (amortized cost of $2,121,032, and $2,181,604, respectively)	2,343,507		2,361,646
Total investments at fair value (amortized cost of $15,400,230 and $16,417,779, respectively)	15,344,201		16,470,893
Cash (restricted cash of $13,519 and $47,448, respectively)	416,109		558,703
Foreign cash (cost of $39,615 and $9,722, respectively)	39,291		9,839
Interest and dividend receivable	100,467		104,576
Receivable from a controlled affiliate	25,172		26,846
Prepaid expenses and other assets	93,301		15,508
Total Assets	$	16,018,541	$	17,186,365
Liabilities
Debt (net of unamortized debt issuance costs of $95,244 and $93,186, respectively)	$	8,454,559	$	9,300,076
Distribution payable	183,707		184,877
Management fee payable	60,695		63,145
Incentive fee payable	32,411		38,899
Payables to affiliates	10,318		12,572
Accrued expenses and other liabilities	122,851		189,517
Total Liabilities	$	8,864,541	$	9,789,086
Commitments and contingencies (Note 8)
Net Assets
Common shares $0.01 par value, 1,000,000,000 shares authorized; 496,305,391 and 499,448,499 shares issued and outstanding, respectively	$	4,963	$	4,994
Additional paid-in-capital	7,477,075		7,512,234
Accumulated undistributed (overdistributed) earnings	(328,038)		(119,949)
Total Net Assets	$	7,154,000	$	7,397,279
Total Liabilities and Net Assets	$	16,018,541	$	17,186,365
Net Asset Value Per Share	$	14.41	$	14.81

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 March 31,
	2026		2025
Investment Income
Investment income from non-controlled, non-affiliated investments:
Interest income	$	291,924	$	356,463
Payment-in-kind (“PIK”) interest income	27,234		35,392
Dividend income	20,209		21,531

Other income	3,158		5,590
Total investment income from non-controlled, non-affiliated investments	342,525		418,976
Investment income from non-controlled, affiliated investments:
Interest income	392		615
PIK interest income	88		1,039
Dividend income	3,195		—
Other income	26		36
Total investment income from non-controlled, affiliated investments	3,701		1,690
Investment income from controlled, affiliated investments:
Interest income	7,997		8,952
PIK interest income	4,159		—
Dividend income	38,189		35,005
Other income	203		23
Total investment income from controlled, affiliated investments	50,548		43,980
Total Investment Income	396,774		464,646
Operating Expenses
Interest expense	$	134,316	$	148,532
Management fees, net(1)	60,693		62,158
Performance based incentive fees	32,412		41,029
Professional fees	4,206		3,532
Directors' fees	445		320
Other general and administrative	3,085		4,027
Total Operating Expenses	235,157		259,598
Net Investment Income (Loss) Before Taxes	161,617		205,048
Income tax expense (benefit), including excise tax expense (benefit)	2,447		3,746
Net Investment Income (Loss) After Taxes	$	159,170	$	201,302
Net Realized and Change in Unrealized Gain (Loss)
Net change in unrealized gain (loss):
Non-controlled, non-affiliated investments	$	(164,425)	$	196,524
Non-controlled, affiliated investments	23,764		(700)
Controlled, affiliated investments	42,430		(3,390)
Translation of assets and liabilities in foreign currencies and other transactions	(3,269)		4,012
Income tax (provision) benefit	707		(1,562)
Total Net Change in Unrealized Gain (Loss)	(100,793)		194,884
Net realized gain (loss):
Non-controlled, non-affiliated investments	$	10,673	$	(151,932)
Non-controlled, affiliated investments	(39,222)		—
Controlled, affiliated investments	(56,356)		—
Foreign currency transactions	2,146		(1,619)
Total Net Realized Gain (Loss)	(82,759)		(153,551)
Total Net Realized and Change in Unrealized Gain (Loss)	(183,552)		41,333
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(24,382)	$	242,635
Earnings Per Share - Basic and Diluted	$	(0.05)	$	0.49
Weighted Average Shares Outstanding - Basic and Diluted	498,903,632		494,825,717

_______________

(1)Refer to “Note 3 — Agreements and Related Party Transactions” for additional details on management fee waiver.

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

Blue Owl Capital Corporation

Consolidated Statements of Changes in Net Assets

(Amounts in thousands)

(Unaudited)


	For the Three Months Ended March 31,
		2026		2025
Increase (Decrease) in Net Assets Resulting from Operations
Net investment income (loss)		$	159,170	$	201,302
Net change in unrealized gain (loss)		(100,793)		194,884
Net realized gain (loss)		(82,759)		(153,551)
Net Increase (Decrease) in Net Assets Resulting from Operations		(24,382)		242,635
Distributions
Distributions declared from earnings(1)		(183,707)		(214,638)
Net Decrease in Net Assets Resulting from Shareholders' Distributions		(183,707)		(214,638)
Capital Share Transactions
Repurchase of common shares		(35,190)		—

Issuance of common shares		—		3,070
Issuance of common shares in connection with the Mergers(2)		—		1,755,181
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions		(35,190)		1,758,251
Total Increase (Decrease) in Net Assets		(243,279)		1,786,248
Net Assets, at beginning of period		$	7,397,279	$	5,952,841
Net Assets, at End of Period		$	7,154,000	$	7,739,089

_______________

(1)For the three months ended March 31, 2026, distributions declared were derived from net investment income and capital gains. For the three months ended March 31, 2025, distributions declared from earnings were derived from net investment income.

(2)Refer to “Note 13 — Merger with Blue Owl Capital Corporation III” (“OBDE”) for additional information on the OBDE Mergers.

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

Blue Owl Capital Corporation

Consolidated Statements of Cash Flows

(Amounts in thousands)

(Unaudited)


	For the Three Months Ended March 31,
	2026		2025
Cash Flows from Operating Activities
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(24,382)	$	242,635
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Purchases of investments, net	(541,229)		(958,467)
Proceeds from investments and investment repayments, net	1,537,542		719,664
Net amortization/accretion of premium/discount on investments	(18,168)		(20,318)
PIK interest and dividends	(42,830)		(29,428)
Net change in unrealized (gain) loss on investments	98,231		(192,434)
Net change in interest rate swap attributed to unsecured notes	2,556		18,364
Net change in unrealized (gain) loss on foreign currency forward contracts	(8,280)		—
Net change in unrealized (gain) loss on translation of assets and liabilities in foreign currencies	11,549		(3,943)
Net realized (gain) loss on investments	84,905		151,932
Net realized (gain) loss on foreign currency transactions relating to investments	(2,671)		1,898
Amortization of debt issuance costs	12,387		9,802

Cash acquired in the OBDE Mergers	—		125,621

Changes in operating assets and liabilities:
(Increase) decrease in interest and dividend receivable	4,109		29,024
(Increase) decrease in receivable from a controlled affiliate	1,674		(2,732)
(Increase) decrease in prepaid expenses and other assets	(70,943)		18,689
Increase (decrease) in management fee payable	(2,450)		12,228
Increase (decrease) in incentive fee payable	(6,488)		1,648
Increase (decrease) in payables to affiliate	(2,254)		2,410

Increase (decrease) in accrued expenses and other liabilities	(65,873)		(87,645)




Net cash provided by (used in) operating activities	967,385		38,948
Cash Flows from Financing Activities
Borrowings on debt	1,708,000		1,299,775
Payments on debt	(2,554,015)		(1,167,955)
Debt issuance costs	(14,445)		(3,851)
Repurchases of common stock	(35,190)		—
Shares issued under the "at the market" offering	—		3,070
Cash distributions paid to shareholders	(184,877)		(169,931)
Net cash provided by (used in) financing activities	(1,080,527)		(38,892)
Net increase (decrease) in cash and restricted cash, including foreign cash (restricted cash of $(33,929) and $(6,832), respectively)	(113,142)		56
Cash and restricted cash, including foreign cash, beginning of period (restricted cash of $47,448 and $82,387, respectively)	568,542		514,156
Cash and restricted cash, including foreign cash, end of period (restricted cash of $13,519 and $75,555, respectively)	$	455,400	$	514,212

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

Blue Owl Capital Corporation

Consolidated Statements of Cash Flows

(Amounts in thousands)

(Unaudited)


	For the Three Months Ended March 31,
	2026		2025
Supplemental and Non-Cash Information
Interest paid during the period	$	169,446	$	198,153
Distributions declared during the period	183,707		214,638

Distributions payable	183,707		189,088
Issuance of shares in connection with the OBDE Mergers(1)	—		1,755,181
Receivable for investments sold	750		—
Taxes, including excise tax, paid during the period	6,506		1,567

_______________

(1)On January 13, 2025, in connection with the OBDE Mergers, the Company acquired net assets of $1.85 billion for the total stock consideration of $1.76 billion, inclusive of $7.0 million of transaction costs. Refer to “Note 13 — Merger with Blue Owl Capital Corporation III” (“OBDE”) for additional information on the OBDE Mergers.

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par		Shares/Units	Amortized Cost(2)(27)		Fair Value		% of Net Assets
Non-controlled/non-affiliated portfolio company investments
Debt Investments(7)
Advertising and media
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(3)(4)(9)	First lien senior secured loan	S+	4.25%		12/2029	$	42,404	—	$	42,078	$	42,086
Monotype Imaging Holdings Inc.(3)(4)(8)	First lien senior secured loan	S+	5.25%		2/2031	143,996		—	142,714		141,117
									184,792		183,203		2.6	%
Aerospace and defense
Applied Composites Holdings, LLC (fka AC&A Enterprises Holdings, LLC)(3)(4)(9)	First lien senior secured loan	S+	1.76%	4.64%	7/2027	42,913		—	35,739		24,031
Horizon Avionics Buyer, LLC (dba Acron Aviation)(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		3/2032	16,039		—	15,951		15,946
Peraton Corp.(3)(9)	Second lien senior secured loan	S+	7.75%		2/2029	60,393		—	57,770		43,181
STS PARENT, LLC (dba STS Aviation Group)(3)(4)(9)	First lien senior secured loan	S+	5.00%		10/2031	111,157		—	110,212		110,046
STS PARENT, LLC (dba STS Aviation Group)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.00%		10/2030	9,824		—	9,742		9,700

									229,414		202,904		2.8	%
Asset based lending and fund finance
Hg Genesis 8 Sumoco Limited(3)(4)(19)(31)	Unsecured facility	SA+	7.50%		9/2027	£	3,762	—	4,760		4,961
Hg Genesis 9 SumoCo Limited(3)(4)(14)(31)	Unsecured facility	E+	6.00%		3/2029	€	38,711	—	41,258		44,603
Hg Saturn Luchaco Limited(3)(4)(19)(31)	Unsecured facility	SA+		8.25%	3/2027	£	53,937	—	68,104		71,127
									114,122		120,691		1.7	%
Automotive services
MAJCO LLC (dba Big Brand Tire & Service)(3)(4)(9)(22)	First lien senior secured loan	S+	4.50%		9/2032	81,986		—	81,480		81,781
Spotless Brands, LLC(3)(4)(9)	First lien senior secured loan	S+	5.75%		7/2028	93,805		—	92,673		93,805
Spotless Brands, LLC(3)(4)(9)(22)	First lien senior secured delayed draw term loan	S+	5.00%		7/2028	5,562		—	5,452		5,430

									179,605		181,016		2.5	%
Buildings and real estate
Associations Finance, Inc.(3)(4)(6)	Unsecured notes	N/A		14.25%	5/2030	204,040		—	202,704		204,040
Associations, Inc.(3)(4)(9)(22)	First lien senior secured loan	S+	6.50%		7/2028	428,329		—	426,690		428,329
Wrench Group LLC(3)(4)(9)	First lien senior secured loan	S+	4.75%		9/2032	93,738		—	93,236		92,800
Wrench Group LLC(3)(4)(12)(22)	First lien senior secured revolving loan	P+	3.75%		9/2031	4,784		—	4,714		4,656
									727,344		729,825		10.2	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par		Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
Business services
Aurelia Netherlands B.V.(3)(4)(14)(31)	First lien senior secured EUR term loan	E+	4.75%		5/2031	€	64,136	—	72,487	73,897
CMG HoldCo, LLC (dba Crete United)(3)(4)(10)(22)	First lien senior secured loan	S+	4.75%		11/2030	1,349		—	1,324	1,313
CoolSys, Inc.(3)(9)	First lien senior secured loan	S+	6.00%		8/2028	11,980		—	11,822	9,905
DuraServ LLC(3)(4)(8)	First lien senior secured loan	S+	4.75%		6/2031	128,284		—	127,267	126,039
DuraServ LLC(3)(4)(8)(22)	First lien senior secured revolving loan	S+	4.75%		6/2030	6,334		—	6,271	6,026
Gainsight, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.50%		7/2027	30,123		—	29,971	29,596
Hercules Borrower, LLC (dba The Vincit Group)(3)(4)(9)	First lien senior secured loan	S+	4.75%		12/2028	119,606		—	119,282	119,606
Hercules Buyer, LLC (dba The Vincit Group)(3)(4)(6)(33)	Unsecured notes	N/A		0.48%	12/2029	6,316		—	6,471	9,582
KPSKY Acquisition, Inc. (dba BluSky)(3)(4)(9)	First lien senior secured loan	S+	5.50%		10/2028	43,002		—	40,234	38,594
KPSKY Acquisition, Inc. (dba BluSky)(3)(4)(9)	First lien senior secured delayed draw term loan	S+	5.75%		10/2028	31		—	29	28






									415,158	414,586	5.8	%
Chemicals
Advancion Holdings, LLC (fka Aruba Investments Holdings, LLC)(3)(4)(9)	Second lien senior secured loan	S+	7.75%		11/2028	16,500		—	16,222	14,809
DCG ACQUISITION CORP. (dba DuBois Chemical)(3)(4)(9)(22)	First lien senior secured loan	S+	5.00%		6/2031	79,048		—	78,202	78,035
Gaylord Chemical Company, L.L.C.(3)(4)(9)(22)	First lien senior secured loan	S+	5.75%		12/2027	180,211		—	179,330	179,735
Rocket BidCo, Inc. (dba Recochem)(3)(4)(9)(31)	First lien senior secured loan	S+	4.75%		11/2030	250,864		—	246,469	249,610


									520,223	522,189	7.3	%
Consumer products
Conair Holdings LLC(3)(8)	First lien senior secured loan	S+	3.75%		5/2028	12,376		—	11,450	8,610
Conair Holdings LLC(3)(4)(8)	Second lien senior secured loan	S+	7.50%		5/2029	161,616		—	158,945	96,970
Feradyne Outdoors, LLC(3)(4)(9)(28)	First lien senior secured loan	S+		6.75%	5/2028	82,903		—	78,196	50,571
Foundation Consumer Brands, LLC(3)(4)(9)	First lien senior secured loan	S+	5.00%		2/2029	48,433		—	48,049	48,312
Lignetics Investment Corp.(3)(4)(9)	First lien senior secured loan	S+	5.50%		11/2027	97,253		—	96,319	97,253
SWK BUYER, Inc. (dba Stonewall Kitchen)(3)(4)(9)	First lien senior secured loan	S+	5.25%		3/2029	1,452		—	1,418	1,401

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
WU Holdco, Inc. (dba PurposeBuilt Brands)(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		4/2032	94,880	—	94,655	94,377



								489,032	397,494	5.6	%
Containers and packaging
Arctic Holdco, LLC (dba Novvia Group)(3)(4)(9)(22)	First lien senior secured loan	S+	5.25%		1/2032	99,057	—	98,679	98,304
Arctic Holdco, LLC (dba Novvia Group)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.25%		1/2031	2,342	—	2,314	2,289
Ascend Buyer, LLC (dba PPC Flexible Packaging)(3)(4)(9)(22)	First lien senior secured loan	S+	5.25%		9/2028	71,617	—	70,693	70,832
Fortis Solutions Group, LLC(3)(4)(9)	First lien senior secured loan	S+	5.50%		10/2028	35,009	—	34,223	34,222
Fortis Solutions Group, LLC(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.50%		10/2027	1,625	—	1,584	1,543
Indigo Buyer, Inc. (dba Inovar Packaging Group)(3)(4)(9)(22)	First lien senior secured loan	S+	5.25%		5/2028	14,110	—	13,980	14,110
Pregis Topco LLC(3)(4)(8)	Second lien senior secured loan	S+	7.75%		8/2029	25,720	—	25,457	25,720
Pregis Topco LLC(3)(4)(8)	Second lien senior secured loan	S+	6.75%		8/2029	150,056	—	148,607	150,056
								395,537	397,076	5.6	%
Distribution
ABB/Con-cise Optical Group LLC(3)(4)(9)	First lien senior secured loan	S+	7.50%		2/2028	64,629	—	64,236	64,144
Endries Acquisition, Inc.(3)(4)(8)	First lien senior secured loan	S+	5.50%		12/2028	118,868	—	118,020	116,491
Offen, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.00%		7/2030	14,716	—	14,586	14,532
Offen, Inc.(3)(4)(8)(22)	First lien senior secured revolving loan	S+	5.00%		7/2029	803		786	778
								197,628	195,945	2.7	%
Education
Severin Acquisition, LLC (dba PowerSchool)(3)(4)(8)	First lien senior secured loan	S+	2.50%	2.25%	10/2031	1,529	—	1,504	1,472
Severin Acquisition, LLC (dba PowerSchool)(3)(4)(8)(22)	First lien senior secured delayed draw term loan	S+	4.75%		10/2031	76	—	74	65
Severin Acquisition, LLC (dba PowerSchool)(3)(4)(8)(22)	First lien senior secured revolving loan	S+	4.50%		10/2031	50	—	49	43
								1,627	1,580	—	%
Energy equipment and services
Dresser Utility Solutions, LLC(3)(4)(8)	First lien senior secured loan	S+	5.25%		3/2029	74,243	—	73,591	74,243
								73,591	74,243	1.0	%
Financial services

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
Baker Tilly Advisory Group, LP(3)(4)(8)	First lien senior secured loan	S+	4.75%		6/2031	81,378	—	80,253	81,378
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC)(3)(4)(8)(22)	First lien senior secured loan	S+	4.50%		6/2030	39,559	—	39,033	39,559
Continental Finance Company, LLC(3)(4)(8)	First lien senior secured loan	S+	8.00%		3/2029	7,500	—	7,442	7,425
Deerfield Dakota Holdings(3)(4)(9)	First lien senior secured loan	S+	3.00%	2.75%	9/2032	116,281	—	115,745	115,700
Deerfield Dakota Holdings(3)(4)(8)(22)	First lien senior secured revolving loan	S+	5.25%		9/2032	2,153	—	2,103	2,099
Klarna Holding AB(3)(4)(9)(31)	Subordinated floating rate notes	S+	7.00%		4/2034	1,000	—	1,000	995
KRIV Acquisition Inc. (dba Riveron)(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		7/2031	8,124	—	7,977	8,124
Minotaur Acquisition, Inc. (dba Inspira Financial)(3)(4)(8)	First lien senior secured loan	S+	5.00%		6/2030	242,939	—	240,211	242,332
NMI Acquisitionco, Inc. (dba Network Merchants)(3)(4)(8)	First lien senior secured loan	S+	4.50%		9/2028	44,955	—	44,814	44,279
Smarsh Inc.(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		2/2029	2,073	—	2,055	1,990
Wipfli Advisory LLC(3)(4)(9)	First lien senior secured loan	S+	4.50%		10/2032	24,809	—	24,751	24,623
								565,384	568,504	7.9	%
Food and beverage
Balrog Acquisition, Inc. (dba Bakemark)(3)(4)(8)	Second lien senior secured loan	S+	7.00%		9/2029	28,000	—	27,811	17,220
Blast Bidco Inc. (dba Bazooka Candy Brands)(3)(4)(9)	First lien senior secured loan	S+	6.00%		10/2030	37,299	—	36,637	37,299
BP Veraison Buyer, LLC (dba Sun World)(3)(4)(9)	First lien senior secured loan	S+	5.25%		5/2029	137,001	—	135,840	137,001
Eagle Family Foods Group LLC(3)(4)(10)	First lien senior secured loan	S+	4.75%		8/2030	1,708	—	1,692	1,704
Fiesta Purchaser, Inc. (dba Shearer's Foods)(3)(9)(22)	First lien senior secured revolving loan	S+	2.75%		2/2029	1,967	—	1,967	1,753
Gehl Foods, LLC(3)(4)(9)	First lien senior secured loan	S+	6.25%		6/2030	97,920	—	96,844	97,676
Hissho Parent, LLC(3)(4)(9)	First lien senior secured loan	S+	4.75%		5/2029	16,464	—	16,347	16,464
Innovation Ventures HoldCo, LLC (dba 5 Hour Energy)(3)(4)(8)	First lien senior secured loan	S+	6.25%		3/2027	27,682	—	27,268	27,615
KBP Brands, LLC(3)(4)(9)	First lien senior secured loan	S+	5.50%		5/2027	1,053	—	1,033	1,033
Ole Smoky Distillery, LLC(3)(4)(8)	First lien senior secured loan	S+	5.50%		3/2028	848	—	842	783
Rushmore Investment III LLC (dba Winland Foods)(3)(4)(9)	First lien senior secured loan	S+	5.00%		10/2030	331,354	—	328,110	330,525

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par		Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC)(3)(4)(9)(22)	First lien senior secured loan	S+	5.00%		7/2027	53,977		—	53,964	52,997
Vital Bidco AB (dba Vitamin Well)(3)(4)(8)(31)	First lien senior secured loan	S+	4.25%		10/2031	61,418		—	60,453	61,418

									788,808	783,488	11.0	%
Healthcare equipment and services
Arctic US Bidco, Inc. (dba ThermoSafe)(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		11/2032	35,208		—	35,009	34,792

Bamboo US BidCo LLC(3)(4)(9)	First lien senior secured loan	S+	5.00%		9/2030	10,668		—	10,604	10,668
Bamboo US BidCo LLC(3)(4)(14)	First lien senior secured EUR term loan	E+	5.00%		9/2030	€	4,650	—	4,825	5,358
Cambrex Corporation(3)(4)(8)(22)	First lien senior secured loan	S+	4.50%		3/2032	916		—	908	914

Creek Parent, Inc. (dba Catalent)(3)(4)(8)	First lien senior secured loan	S+	5.00%		12/2031	113,082		—	110,907	112,234
CSC MKG Topco LLC (dba Medical Knowledge Group)(3)(4)(8)	First lien senior secured loan	S+	5.50%		2/2029	4,606		—	4,521	4,606
Nelipak Holding Company(3)(4)(9)(22)	First lien senior secured loan	S+	5.50%		3/2031	29,638		—	29,128	29,085
Nelipak Holding Company(3)(4)(8)(22)	First lien senior secured revolving loan	S+	5.50%		3/2031	1,888		—	1,792	1,766
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.(3)(4)(14)	First lien senior secured EUR term loan	E+	5.50%		3/2031	€	44,215	—	46,431	50,053
Packaging Coordinators Midco, Inc.(3)(4)(9)(22)	First lien senior secured loan	S+	5.00%		10/2032	159,220		—	157,468	157,625
Packaging Coordinators Midco, Inc.(3)(4)(19)	First lien senior secured delayed draw term loan	SA+	5.00%		10/2032	£	14,410	—	18,942	18,812
Patriot Acquisition TopCo S.À R.L. (dba Corza Health, Inc.)(3)(4)(9)(31)	First lien senior secured loan	S+	4.75%		1/2028	143,597		—	142,699	143,597
PerkinElmer U.S. LLC(3)(4)(8)	First lien senior secured loan	S+	4.75%		3/2029	25,721		—	25,680	25,657
Rhea Parent, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.00%		12/2030	40,266		—	39,891	39,863
TBRS, Inc. (dba TEAM Technologies)(3)(4)(9)	First lien senior secured loan	S+	4.75%		11/2031	41,110		—	40,786	40,905

									669,591	675,935	9.4	%
Healthcare providers and services
Allied Benefit Systems Intermediate LLC(3)(4)(9)	First lien senior secured loan	S+	5.00%		10/2030	5,219		—	5,219	5,167
Belmont Buyer, Inc. (dba Valenz)(3)(4)(9)(22)	First lien senior secured loan	S+	6.50%		6/2029	4,500		—	4,432	4,500
Belmont Buyer, Inc. (dba Valenz)(3)(4)(9)	First lien senior secured loan	S+	5.25%		6/2029	3,121		—	3,063	3,097

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
Bristol Hospice L.L.C.(3)(4)(8)	First lien senior secured loan	S+	5.00%		8/2032	41,888	—	41,692	41,888
Commander Buyer, Inc. (dba CenExel)(3)(4)(8)	First lien senior secured loan	S+	4.50%		6/2032	55,961	—	55,681	55,681
Confluent Health, LLC(3)(4)(8)	First lien senior secured loan	S+	5.00%		11/2028	4,900	—	4,787	4,239
Covetrus, Inc.(3)(4)(9)	Second lien senior secured loan	S+	9.25%		10/2030	30,000	—	28,943	30,000
dentalcorp Health Services Ltd. (fka Aryeh Bidco Investment Ltd.)(3)(4)(21)(22)(31)	First lien senior secured loan	N/A	5.00%		1/2033	82,058	—	82,060	81,610
Engage Debtco Limited(3)(4)(9)(31)	First lien senior secured loan	S+	3.08%	2.75%	7/2029	2,141	—	2,093	1,959
Ex Vivo Parent Inc. (dba OB Hospitalist)(3)(4)(8)	First lien senior secured loan	S+		9.50%	9/2028	129,523	—	128,488	129,523
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)(3)(4)(9)	First lien senior secured loan	S+	5.00%		12/2029	118,733	—	117,461	117,842
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)(3)(4)(10)	First lien senior secured loan	S+	4.00%		9/2030	558	—	556	557
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)(3)(4)(8)(22)	First lien senior secured delayed draw term loan	S+	4.00%		9/2030	82	—	82	82
Maple Acquisition, LLC (dba Medicus)(3)(4)(10)	First lien senior secured loan	S+	4.50%		5/2031	64,902	—	64,335	64,902
National Dentex Labs LLC (fka Barracuda Dental LLC)(3)(4)(9)(22)(28)	First lien senior secured loan	S+		10.00%	5/2026	159,937	—	138,535	61,908
National Dentex Labs LLC (fka Barracuda Dental LLC)(3)(4)(9)(22)(28)	First lien senior secured delayed draw term loan	S+		12.00%	5/2026	23,055	—	14,248	8,069
National Dentex Labs LLC (fka Barracuda Dental LLC)(3)(4)(9)(22)(28)	First lien senior secured revolving loan	S+		9.00%	5/2026	12,010	—	10,147	4,132
Natural Partners, LLC(3)(4)(9)(31)	First lien senior secured loan	S+	4.50%		11/2030	6,442	—	6,354	6,442
Nova Women's Health, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.25%		1/2032	11,591	—	11,534	11,533
OB Hospitalist Group, Inc.(3)(4)(8)	First lien senior secured loan	S+	5.25%		9/2027	152,890	—	151,502	152,890
Pacific BidCo Inc.(3)(4)(10)(31)	First lien senior secured loan	S+	5.75%		8/2029	48,719	—	47,840	47,989
PetVet Care Centers, LLC(3)(4)(8)	First lien senior secured loan	S+	6.00%		11/2030	130,671	—	128,615	117,604
PetVet Care Centers, LLC(3)(4)(8)(22)	First lien senior secured revolving loan	S+	6.00%		11/2029	3,660	—	3,477	1,830
Physician Partners, LLC(3)(4)(9)	First lien senior secured loan	S+	6.00%		12/2029	11,344	—	10,822	10,720
Physician Partners, LLC(3)(9)	First lien senior secured loan	S+	1.50%	2.50%	12/2029	6,555	—	4,442	4,380
Plasma Buyer LLC (dba PathGroup)(3)(4)(9)(28)	First lien senior secured loan	S+		5.75%	5/2029	1,424	—	1,332	811

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par		Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
Plasma Buyer LLC (dba PathGroup)(3)(4)(9)(28)	First lien senior secured delayed draw term loan	S+		6.25%	5/2029	54		—	49	31
Plasma Buyer LLC (dba PathGroup)(3)(4)(9)(28)	First lien senior secured revolving loan	S+		5.75%	5/2028	163		—	149	93
Plasma Buyer LLC (dba PathGroup)(3)(4)(9)(22)(28)	First lien senior secured delayed draw term loan	S+		6.25%	3/2027	30		—	28	28
PPV Intermediate Holdings, LLC(3)(4)(9)(22)	First lien senior secured loan	S+	5.75%		8/2029	29,193		—	28,764	28,430
PPV Intermediate Holdings, LLC(3)(4)(9)	First lien senior secured delayed draw term loan	S+	6.00%		8/2029	1,755		—	1,730	1,724
Premier Imaging, LLC (dba LucidHealth)(3)(4)(9)	First lien senior secured loan	S+	6.00%		10/2027	46,604		—	46,548	41,944
Premise Health Holding Corp.(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		11/2032	88,727		—	88,287	87,370
Quva Pharma, Inc.(3)(4)(9)	First lien senior secured loan	S+	2.75%	3.00%	4/2028	67,784		—	66,816	65,750
SimonMed, Inc.(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		2/2032	533		—	530	528
SimonMed, Inc.(3)(4)(9)(22)	First lien senior secured revolving loan	S+	4.75%		2/2031	33		—	33	32
Soleo Holdings, Inc.(3)(4)(9)	First lien senior secured loan	S+	4.50%		2/2032	58,406		—	58,152	58,406
Tivity Health, Inc.(3)(4)(8)	First lien senior secured loan	S+	5.00%		6/2029	139		—	139	139
Unified Women's Healthcare, LP(3)(4)(9)	First lien senior secured loan	S+	5.00%		6/2029	56,268		—	55,761	55,986
Valeris, Inc. (fka Phantom Purchaser, Inc.)(3)(4)(9)	First lien senior secured loan	S+	5.00%		9/2031	42,025		—	41,480	42,025
Vermont Aus Pty Ltd(3)(4)(17)(31)	First lien senior secured AUD term loan	B+	4.50%		3/2028	A$	2,073	—	1,369	1,412




									1,457,575	1,353,253	18.9	%
Healthcare technology
BCPE Osprey Buyer, Inc. (dba PartsSource)(3)(4)(9)	First lien senior secured loan	S+	5.75%		8/2028	178,148		—	176,172	176,367
BCPE Osprey Buyer, Inc. (dba PartsSource)(3)(4)(8)(22)	First lien senior secured delayed draw term loan	S+	5.75%		8/2028	49,707		—	49,096	49,162
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(3)(4)(8)(22)	First lien senior secured loan	S+	5.00%		8/2031	87,713		—	86,676	87,262
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(3)(4)(8)	First lien senior secured loan	S+	4.75%		8/2031	12,726		—	12,668	12,599
GI Ranger Intermediate, LLC (dba Rectangle Health)(3)(4)(9)	First lien senior secured loan	S+	6.00%		10/2028	24,567		—	24,001	22,848

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par		Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
GI Ranger Intermediate, LLC (dba Rectangle Health)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	6.00%		10/2027	817		—	799	674
Indikami Bidco, LLC (dba IntegriChain)(3)(4)(8)	First lien senior secured loan	S+	4.00%	2.50%	12/2030	21,976		—	21,605	21,207
Indikami Bidco, LLC (dba IntegriChain)(3)(4)(8)	First lien senior secured delayed draw term loan	S+	6.00%		12/2030	334		—	334	322
Indikami Bidco, LLC (dba IntegriChain)(3)(4)(8)(22)	First lien senior secured revolving loan	S+	6.00%		6/2030	1,586		—	1,558	1,513
Inovalon Holdings, Inc.(3)(4)(9)	First lien senior secured loan	S+	2.75%	2.75%	11/2028	154,424		—	154,253	148,633
Inovalon Holdings, Inc.(3)(4)(9)	Second lien senior secured loan	S+		8.50%	11/2033	65,333		—	65,333	57,003
Interoperability Bidco, Inc. (dba Lyniate)(3)(4)(9)(22)	First lien senior secured loan	S+	5.25%		3/2028	72,147		—	71,892	71,183
Klick Inc.(3)(4)(8)(31)	First lien senior secured loan	S+	5.00%		11/2032	67,653		—	67,329	67,145
Modernizing Medicine, Inc. (dba ModMed)(3)(4)(9)	First lien senior secured loan	S+	2.50%	2.25%	4/2032	777		—	770	773
RL Datix Holdings (USA), Inc.(3)(4)(10)	First lien senior secured loan	S+	5.00%		4/2031	55,712		—	55,713	54,737
RL Datix Holdings (USA), Inc.(3)(4)(19)	First lien senior secured GBP term loan	SA+	5.00%		4/2031	£	25,885	—	34,933	33,537
Salinger Bidco Inc. (dba Surgical Information Systems)(3)(4)(9)	First lien senior secured loan	S+	5.75%		8/2031	40,704		—	40,140	40,602



									863,272	845,567	11.8	%
Household products
HGH Purchaser, Inc. (dba Horizon Services)(3)(4)(9)	First lien senior secured loan	S+	3.25%	3.75%	11/2028	196,203		—	195,530	180,016
HGH Purchaser, Inc. (dba Horizon Services)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	6.50%		11/2028	13,454		—	13,281	12,082
Mario Midco Holdings, Inc. (dba Len the Plumber)(3)(4)(9)	Unsecured facility	S+		10.75%	4/2032	9,209		—	9,014	8,518
Mario Purchaser, LLC (dba Len the Plumber)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.75%		4/2028	1,921		—	1,900	1,819
Mario Purchaser, LLC (dba Len the Plumber)(3)(4)(9)	First lien senior secured loan	S+	5.75%		4/2029	27,772		—	27,297	26,314
Sentinel Buyer Corp. (dba SimpliSafe)(3)(4)(8)	First lien senior secured loan	S+	5.00%		11/2032	40,313		—	39,927	39,708
									286,949	268,457	3.8	%
Human resource support services
Cornerstone OnDemand, Inc.(3)(4)(8)	Second lien senior secured loan	S+	6.50%		10/2029	160,417		—	154,237	109,083

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
IG Investments Holdings, LLC (dba Insight Global)(3)(4)(9)	First lien senior secured loan	S+	5.00%		9/2028	111,951	—	111,027	111,951
								265,264	221,034	3.1	%
Infrastructure and environmental services
AWP Group Holdings, Inc.(3)(4)(9)(22)	First lien senior secured loan	S+	4.50%		12/2030	987	—	964	977
CHA Vision Holdings, Inc. (fka FR Vision Holdings, Inc.)(3)(4)(9)(22)	First lien senior secured loan	S+	5.00%		1/2031	51,057	—	50,522	51,057
GI Apple Midco LLC (dba Atlas Technical Consultants)(3)(4)(8)	First lien senior secured loan	S+	6.75%		4/2030	925	—	915	904
GI Apple Midco LLC (dba Atlas Technical Consultants)(3)(4)(8)(22)	First lien senior secured revolving loan	S+	6.75%		4/2029	50	—	49	47
Tamarack Intermediate, L.L.C. (dba Verisk 3E)(3)(4)(9)(22)	First lien senior secured loan	S+	5.00%		3/2029	1,585	—	1,566	1,541
VCI Asset Holdings 1 LLC(3)(4)(6)(31)	First lien senior secured loan	N/A	10.00%		11/2030	85,932	—	85,122	88,510
Vessco Midco Holdings, LLC(3)(4)(8)	First lien senior secured loan	S+	4.50%		7/2031	45,722	—	45,198	45,722
Vessco Midco Holdings, LLC(3)(4)(10)(22)	First lien senior secured loan	S+	4.50%		7/2031	28,615	—	28,425	28,615

								212,761	217,373	3.0	%
Insurance
AmeriLife Holdings LLC(3)(4)(9)(22)	First lien senior secured loan	S+	5.00%		8/2029	13,221	—	12,994	13,088
AmeriLife Holdings LLC(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.00%		8/2028	167	—	163	157
Brightway Holdings, LLC(3)(4)(9)	First lien senior secured loan	S+	5.00%		12/2029	51,278	—	51,156	51,150
Brightway Holdings, LLC(3)(4)(8)(22)	First lien senior secured delayed draw term loan	S+	5.00%		12/2029	633	—	617	632
Diamond Mezzanine 24 LLC (dba United Risk)(3)(4)(9)	First lien senior secured loan	S+	4.50%		10/2030	25,099	—	24,874	25,099
Evolution BuyerCo, Inc. (dba SIAA)(3)(4)(9)	First lien senior secured loan	S+	4.75%		4/2030	415	—	410	415
Integrity Marketing Acquisition, LLC(3)(4)(9)	First lien senior secured loan	S+	5.00%		8/2028	97,185	—	96,343	97,185
KUSRP Intermediate, Inc. (dba U.S. Retirement and Benefits Partners)(3)(4)(8)	First lien senior secured loan	S+		10.50%	7/2030	69,805	—	69,229	69,805
Norvax, LLC (dba GoHealth)(3)(4)(9)(28)	First lien senior secured loan	S+	5.50%		11/2029	2,427	—	2,259	443
Norvax, LLC (dba GoHealth)(3)(4)(9)(28)	First lien senior secured revolving loan	S+	4.50%	7.11%	8/2029	4,026	—	1,577	—
Simplicity Financial Marketing Group Holdings, Inc.(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		12/2031	49,740	—	49,152	49,491

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par		Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
THG Acquisition, LLC (dba Hilb)(3)(4)(8)(22)	First lien senior secured loan	S+	4.75%		10/2031	40,336		—	39,861	39,755
Trucordia Insurance Holdings, LLC(3)(4)(8)	Second lien senior secured loan	S+	5.75%		6/2033	150,000		—	148,604	145,875
Truist Insurance Holdings, LLC(3)(4)(9)(22)	First lien senior secured revolving loan	S+	3.25%		5/2029	851		—	851	842
USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners)(3)(4)(8)	First lien senior secured loan	S+	4.75%		12/2029	51,174		—	50,820	51,174



									548,910	545,111	7.6	%
Internet software and services
AI Titan Parent, Inc. (dba Prometheus Group)(3)(4)(8)(22)	First lien senior secured loan	S+	4.50%		8/2031	7,887		—	7,704	7,621
AlphaSense, Inc.(3)(4)(9)	First lien senior secured loan	S+	6.25%		6/2029	707		—	702	701
Anaplan, Inc.(3)(4)(9)	First lien senior secured loan	S+	4.50%		6/2029	63,595		—	63,595	62,164
Aptean Acquiror, Inc. (dba Aptean)(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		1/2031	19,527		—	19,191	18,854
BCTO WIW Holdings, Inc. (dba When I Work)(3)(4)(6)	Senior convertible notes	N/A		5.50%	8/2030	—		4,739,604	4,694	4,694
Armstrong Bidco Limited(3)(4)(19)(31)	First lien senior secured GBP term loan	SA+	5.25%		6/2029	£	2,960	—	3,595	3,786
Artifact Bidco, Inc. (dba Avetta)(3)(4)(9)	First lien senior secured loan	S+	4.15%		7/2031	12,011		—	11,914	11,890
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.)(3)(4)(8)	First lien senior secured loan	S+	6.00%		3/2031	15,817		—	15,597	15,422
Barracuda Parent, LLC(3)(9)	First lien senior secured loan	S+	4.50%		8/2029	12,634		—	11,975	7,991
Bayshore Intermediate #2, L.P. (dba Boomi)(3)(4)(9)	First lien senior secured loan	S+	2.50%	3.00%	10/2028	89,555		—	89,349	87,764
Bayshore Intermediate #2, L.P. (dba Boomi)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.00%		10/2027	1,832		—	1,819	1,684
By Light Professional IT Services LLC(3)(4)(8)	First lien senior secured loan	S+	5.50%		7/2031	44,144		—	43,529	42,709
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.)(3)(4)(9)(22)	First lien senior secured loan	S+	5.50%		8/2027	22,493		—	22,140	21,114
CivicPlus, LLC(3)(4)(9)(22)	First lien senior secured loan	S+	3.25%	2.75%	8/2030	79,256		—	78,912	76,961
Coupa Holdings, LLC(3)(4)(9)	First lien senior secured loan	S+	5.25%		2/2030	1,543		—	1,531	1,481
CP PIK DEBT ISSUER, LLC (dba CivicPlus, LLC)(3)(4)(9)	Unsecured notes	S+		11.75%	6/2034	21,389		—	21,183	20,854
Crewline Buyer, Inc. (dba New Relic)(3)(4)(9)	First lien senior secured loan	S+	6.75%		11/2030	146,812		—	144,590	143,142

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par		Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
Denali Intermediate Holdings, Inc. (dba Dun & Bradstreet)(3)(4)(8)	First lien senior secured loan	S+	5.50%		8/2032	77,171		—	76,091	75,434
EET Buyer, Inc. (dba e-Emphasys)(3)(4)(9)	First lien senior secured loan	S+	5.00%		11/2027	23,127		—	22,894	22,780
Einstein Parent, Inc. (dba Smartsheet)(3)(4)(9)	First lien senior secured loan	S+	5.25%		1/2031	43,387		—	42,991	42,302
Flexera Software LLC(3)(4)(9)	First lien senior secured loan	S+	4.50%		8/2032	17,563		—	17,523	17,124
Flexera Software LLC(3)(4)(13)	First lien senior secured EUR term loan	E+	4.50%		8/2032	€	5,300	—	6,193	5,954
Granicus, Inc.(3)(4)(9)	First lien senior secured loan	S+	3.50%	2.00%	1/2031	17,922		—	17,706	17,698
Granicus, Inc.(3)(4)(9)	First lien senior secured delayed draw term loan	S+	3.00%	2.00%	1/2031	2,654		—	2,612	2,588
GS Acquisitionco, Inc. (dba insightsoftware)(3)(4)(9)(22)	First lien senior secured loan	S+	5.25%		5/2028	9,595		—	9,424	9,254
H&F Opportunities LUX III S.À R.L (dba Checkmarx)(3)(4)(8)(31)	First lien senior secured loan	S+	6.50%		4/2028	16,408		—	16,256	16,203
Hyland Software, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.00%		9/2030	65,965		—	65,965	63,986
Icefall Parent, Inc. (dba EngageSmart)(3)(4)(9)	First lien senior secured loan	S+	4.50%		1/2030	4,197		—	4,197	4,145
Jawbreaker Parent, Inc.(3)(4)(9)	First lien senior secured loan	S+	4.75%		1/2033	41,583		—	41,360	40,855
JS Parent, Inc. (dba Jama Software)(3)(4)(9)	First lien senior secured loan	S+	4.75%		4/2031	898		—	895	896
Litera Bidco LLC(3)(4)(8)(22)	First lien senior secured loan	S+	5.00%		5/2028	150,818		—	150,305	148,137
Matterhorn Finco, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.50%		3/2033	34,466		—	34,295	34,293
Ministry Brands Holdings, LLC(3)(4)(8)	First lien senior secured loan	S+	5.50%		12/2028	11,852		—	11,626	11,466
Ministry Brands Holdings, LLC(3)(4)(12)(22)	First lien senior secured revolving loan	P+	4.50%		12/2027	90		—	85	55
NSCALE SERVICES UK LTD(3)(4)(9)(22)(31)	First lien senior secured delayed draw term loan	S+	5.00%		2/2031	1,656		—	1,056	1,056
PDI TA Holdings, Inc.(3)(4)(9)	First lien senior secured loan	S+	3.50%	2.50%	2/2031	21,735		—	21,316	20,757
PDI TA Holdings, Inc.(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.50%		2/2031	1,703		—	1,688	1,621
QAD, Inc.(3)(4)(8)	First lien senior secured loan	S+	4.75%		11/2027	69,446		—	68,879	68,405
Securonix, Inc.(3)(4)(9)	First lien senior secured loan	S+	3.50%	3.75%	4/2029	1,777		—	1,676	1,431
Sitecore Holding III A/S(3)(4)(10)	First lien senior secured loan	S+	6.50%		3/2029	4,574		—	4,555	4,437
Sitecore Holding III A/S(3)(4)(15)	First lien senior secured EUR term loan	E+	6.50%		3/2029	€	26,382	—	27,814	29,485

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
Sitecore USA, Inc.(3)(4)(10)	First lien senior secured loan	S+	6.50%		3/2029	27,576	—	27,464	26,749
Spaceship Purchaser, Inc. (dba Squarespace)(3)(4)(9)	First lien senior secured loan	S+	3.75%		10/2031	12,820	—	12,820	12,660
Themis Solutions Inc. (dba Clio)(3)(4)(8)(31)	First lien senior secured loan	S+	1.75%	3.75%	10/2032	8,890	—	8,807	8,646
Thunder Purchaser, Inc. (dba Vector Solutions)(3)(4)(9)	First lien senior secured loan	S+	5.25%		6/2028	96,945	—	96,243	95,006
Zendesk, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.00%		11/2028	116,940	—	115,454	112,847

								1,450,210	1,425,102	19.9	%
Leisure and entertainment
Aerosmith Bidco 1 Limited (dba Audiotonix)(3)(4)(9)(31)	First lien senior secured loan	S+	5.25%		7/2031	199,201	—	196,591	199,201
Eternal Buyer, LLC (dba Wedgewood Weddings)(3)(4)(8)	First lien senior secured loan	S+	4.50%		6/2032	34,825	—	34,666	34,651
Troon Golf, L.L.C.(3)(4)(9)(22)	First lien senior secured loan	S+	4.50%		8/2028	86,004	—	85,405	86,004
								316,662	319,856	4.5	%
Manufacturing
FR Flow Control CB LLC (dba Trillium Flow Technologies)(3)(4)(9)(31)	First lien senior secured loan	S+	5.00%		12/2029	31,501	—	31,195	31,659
Helix Acquisition Holdings, Inc. (dba MW Industries)(3)(4)(8)	First lien senior secured loan	S+	7.00%		3/2030	946	—	927	946
Loparex Midco B.V.(3)(4)(9)	First lien senior secured loan	S+	6.00%		2/2027	784	—	784	760
Loparex Midco B.V.(3)(4)(9)	First lien senior secured loan	S+	4.50%		7/2027	4,122	—	3,934	3,256
Loparex Midco B.V.(3)(4)(9)	Second lien senior secured loan	S+	8.75%		7/2027	112,000	—	110,162	68,320
Loparex Midco B.V.(3)(4)(9)	Second lien senior secured loan	S+	8.50%		7/2027	21,000	—	20,459	15,120
MHE Intermediate Holdings, LLC (dba OnPoint Group)(3)(4)(9)(22)	First lien senior secured loan	S+	6.00%		7/2027	106,063	—	105,612	103,417
MHE Intermediate Holdings, LLC (dba OnPoint Group)(3)(4)(8)	First lien senior secured loan	S+	6.25%		7/2027	2,488	—	2,461	2,438
Sonny's Enterprises, LLC(3)(4)(9)	First lien senior secured loan	S+	5.50%		8/2028	270,647	—	268,590	269,294
Sonny's Enterprises, LLC(3)(4)(9)(22)	First lien senior secured delayed draw term loan	S+	6.50%		8/2028	14,887	—	14,743	14,887
Sonny's Enterprises, LLC(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.50%		8/2027	17,776	—	17,705	17,665


								576,572	527,762	7.4	%
Pharmaceuticals

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par		Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
Puma Buyer, LLC (dba PANTHERx)(3)(4)(9)	First lien senior secured loan	S+	4.25%		3/2032	1,210		—	1,202	1,210
Senderra RX Acquisition, LLC(3)(4)(8)(22)	First lien senior secured loan	S+	4.75%		3/2033	26,308		—	26,011	26,008
									27,213	27,218	0.4	%
Professional services
Essential Services Holding Corporation (dba Turnpoint)(3)(4)(9)	First lien senior secured loan	S+	2.75%	2.75%	6/2031	25,223		—	24,915	24,530
Essential Services Holding Corporation (dba Turnpoint)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.00%		6/2030	1,236		—	1,214	1,151
Gerson Lehrman Group, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.25%		12/2028	149,668		—	148,635	147,049
Guidehouse Inc.(3)(4)(8)	First lien senior secured loan	S+	4.75%		12/2030	49,323		—	48,481	47,843
Paris US Holdco, Inc. (dba Precinmac)(3)(4)(8)(22)	First lien senior secured loan	S+	4.75%		12/2031	28,455		—	28,065	28,375
Sensor Technology Topco, Inc. (dba Humanetics)(3)(4)(9)	First lien senior secured loan	S+	6.50%		5/2028	89,710		—	89,350	89,710
Sensor Technology Topco, Inc. (dba Humanetics)(3)(4)(14)	First lien senior secured EUR term loan	E+	6.75%		5/2028	€	15,374	—	16,490	17,714
Sensor Technology Topco, Inc. (dba Humanetics)(3)(4)(8)(22)	First lien senior secured revolving loan	S+	6.50%		5/2028	485		—	482	485
Vensure Employer Services, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.00%		9/2031	2,363		—	2,322	2,339



									359,954	359,196	5.0	%
Specialty retail
Galls, LLC(3)(4)(9)(22)	First lien senior secured loan	S+	6.00%		3/2030	153,068		—	151,265	153,068
Milan Laser Holdings LLC(3)(4)(9)	First lien senior secured loan	S+	5.00%		4/2027	62,762		—	62,333	61,821
The Shade Store, LLC(3)(4)(9)	First lien senior secured loan	S+	6.00%		10/2029	22,902		—	18,247	18,093





									231,845	232,982	3.3	%
Telecommunications
EOS Finco S.A.R.L (dba Netceed)(3)(4)(10)(31)	First lien senior secured loan	S+	5.00%		1/2032	7,537		—	6,233	6,199
EOS Finco S.A.R.L (dba Netceed)(3)(4)(15)(22)(31)	First lien senior secured delayed draw term loan	E+	6.25%		1/2032	€	602	—	647	623
Reinstated NewCo S.À R.L. (dba Netceed)(3)(4)(10)(31)	First lien senior secured loan	S+		9.00%	1/2033	4,352		—	3,224	3,210
									10,104	10,032	0.1	%
Transportation
Lightbeam Bidco, Inc. (dba Lazer Spot)(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		5/2030	5,026		—	5,022	5,001
Lytx, Inc.(3)(4)(8)	First lien senior secured loan	S+	5.00%		2/2028	61,543		—	61,543	61,543

									66,565	66,544	0.9	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)		Fair Value		% of Net Assets
Total non-controlled/non-affiliated debt investments								$	12,225,712	$	11,868,166	165.9	%
Total non-controlled/non-affiliated misc. debt commitments(22)(23)(Note 8)								$	(4,317)	$	(8,508)	(0.1)	%
Total non-controlled/non-affiliated portfolio company debt investments								$	12,221,395	$	11,859,658	165.8	%

Equity Investments
Aerospace and defense
Space Exploration Technologies Corp.(3)(4)(29)(30)	Class A Common Stock	N/A			N/A	—	23,303	1,505		12,271
Space Exploration Technologies Corp.(3)(4)(29)(30)	Class C Common Stock	N/A			N/A	—	4,680	249		2,464
								1,754		14,735		0.2	%
Asset based lending and fund finance
Amergin Asset Management, LLC(3)(4)(29)(30)	Specialty finance equity investment	N/A			N/A	—	50,000,000	382		1,969
								382		1,969		—	%
Automotive services
CD&R Value Building Partners I, L.P. (dba Belron)(3)(5)(29)(30)(31)	LP Interest	N/A			N/A	73,986	—	77,334		103,822
Metis HoldCo, Inc. (dba Mavis Tire Express Services)(3)(4)(6)(30)	Series A Convertible Preferred Stock	N/A		7.00%	N/A	—	182,000	252,841		269,962
Percheron Horsepower-A LP (dba Big Brand Tire & Service)(3)(5)(22)(29)(30)(31)	Limited Partner Interest	N/A			N/A	—	1,509,287	12,219		15,884
								342,394		389,668		5.4	%
Buildings and real estate
Dodge Construction Network Holdings, L.P.(3)(4)(29)(30)	Class A-2 Common Units	N/A			N/A	—	2,613,518	1,920		224
Dodge Construction Network Holdings, L.P.(3)(4)(6)(30)	Series A Preferred Units	N/A		8.25%	N/A	—	—	50		30
								1,970		254		—	%
Business services


Hercules Buyer, LLC (dba The Vincit Group)(3)(4)(29)(30)(33)	Common Units	N/A			N/A	—	2,640,000	2,728		4,004
Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.)(3)(4)(10)(30)	Perpetual Preferred Stock	S+		10.75%	N/A	—	12,600	17,386		13,758
								20,114		17,762		0.2	%
Consumer products
ASP Conair Holdings LP(3)(4)(29)(30)	Class A Units	N/A			N/A	—	73,571	7,443		572
								7,443		572		—	%
Containers and packaging

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
TCB Holdings I LLC (dba TricorBraun)(3)(4)(6)(30)	Class A Preferred Units	N/A		14.00%	N/A	—	43,500	47,985	45,073
								47,985	45,073	0.6	%
Financial services
Blend Labs, Inc.(3)(4)(29)(30)	Warrants	N/A			N/A	—	179,529	975	2
Capital Integration Systems LLC (dba CAIS)(3)(4)(29)(30)	Class D Common Units	N/A			N/A	—	6,372	5,000	5,000
Snowbird Manager LP(3)(5)(29)(30)(31)	Limited Partner Interest	N/A			N/A	—	786,491	4,225	4,279
								10,200	9,281	0.1	%
Food and beverage
Hissho Sushi Holdings, LLC(3)(4)(29)(30)	Class A Units	N/A			N/A	—	15,004	129	189
								129	189	—	%
Healthcare equipment and services
KPCI Co-Invest 2, L.P.(3)(4)(29)(30)(31)	Class A Units	N/A			N/A	—	851,604	8,516	7,612

Maia Aggregator, LP(3)(4)(29)(30)	Class A-2 Units	N/A			N/A	—	280,899	268	273
Patriot Holdings SCSp (dba Corza Health, Inc.)(3)(4)(6)(30)(31)	Class A Units	N/A		8.00%	N/A	—	9,739	14,308	14,332
Patriot Holdings SCSp (dba Corza Health, Inc.)(3)(4)(29)(30)(31)	Class B Units	N/A			N/A	—	134,107	266	1,103
Rhea Acquisition Holdings, LP(3)(4)(29)(30)	Series A-2 Units	N/A			N/A	—	238,095	260	228
								23,618	23,548	0.3	%
Healthcare providers and services
Baypine Commander Co-Invest, LP(3)(4)(29)(30)(31)	LP Interest	N/A			N/A	3,068	—	3,086	3,360
KOBHG Holdings, L.P. (dba OB Hospitalist)(3)(4)(29)(30)	Class A Interests	N/A			N/A	—	9,687	9,376	12,230
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)(3)(4)(29)(30)	Class A Interest	N/A			N/A	—	542	5,522	7,147
Nova Women’s Health Partners Holdings, LP(3)(4)(29)(30)	Class A Units	N/A			N/A	—	1,188,811	1,545	1,545
Polar Investors LP (dba Dentalcorp)(3)(4)(22)(29)(30)(31)	Common Equity	N/A			N/A	—	4	3,409	3,411
Romulus Intermediate Holdings 1 Inc. (dba PetVet Care Centers)(3)(4)(6)(30)	Series A Preferred Stock	N/A		15.00%	N/A	—	17,918	20,569	17,280
XOMA Corporation(3)(4)(29)(30)	Warrants	N/A			N/A	—	36,000	269	435
								43,776	45,408	0.6	%
Healthcare technology

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
BEHP Co-Investor II, L.P.(3)(4)(29)(30)(31)	LP Interest	N/A			N/A	1,270	—	157	1,277
Minerva Holdco, Inc.(3)(4)(6)(30)	Senior A Preferred Stock	N/A		10.75%	N/A	—	9,000	13,836	13,536
ModMed Software Midco Holdings, Inc. (dba ModMed)(3)(4)(6)(30)	Series A Preferred Units	N/A		13.00%	N/A	—	170	181	181
WP Irving Co-Invest, L.P.(3)(4)(29)(30)(31)	Partnership Units	N/A			N/A	—	1,250,000	729	1,257
								14,903	16,251	0.2	%
Household products
Rome Topco Holdings, LLC (dba SimpliSafe)(3)(4)(29)(30)	Class A Units	N/A			N/A	—	1,955	1,955	1,955
Rome Topco Holdings, LLC (dba SimpliSafe)(3)(4)(29)(30)	Class B Units	N/A			N/A	—	1,954,656	—	—
								1,955	1,955	—	%
Human resource support services
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.)(3)(4)(6)(30)	Series A Preferred Stock	N/A		10.50%	N/A	—	51,250	75,343	45,173
								75,343	45,173	0.6	%
Infrastructure and environmental services
Valor Cl Blocker Feeder LP(3)(4)(22)(29)(30)(31)	LP Interest	N/A			N/A	2,714	—	2,714	2,650
VCI Intermediate TopCo 1 LLC(3)(4)(29)(30)(31)	Class B Units	N/A			N/A	4,523	—	4,362	4,316
								7,076	6,966	0.1	%
Insurance
Accelerate Topco Holdings, LLC(3)(4)(29)(30)	Common Units	N/A			N/A	—	5,641	254	212
Evolution Parent, LP (dba SIAA)(3)(4)(29)(30)	LP Interest	N/A			N/A	—	51,757	5,279	6,685
GoHealth, Inc.(3)(4)(29)(30)	Common stock	N/A			N/A	—	33,357	186	—
GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway)(3)(4)(29)(30)	LP Interest	N/A			N/A	—	124,940	1,014	1,175
Hockey Parent Holdings, L.P.(3)(4)(29)(30)	Class A Common Units	N/A			N/A	—	17,500	18,225	22,045
PCF Holdco, LLC (dba Trucordia)(3)(4)(29)(30)	Warrants	N/A			N/A	—	1,624,016	5,437	4,277
PCF Holdco, LLC (dba Trucordia)(3)(4)(6)(30)	Preferred equity	N/A		14.00%	N/A	—	20,983	25,469	30,847
								55,864	65,241	0.9	%
Internet software and services

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)		Fair Value		% of Net Assets
AlphaSense, LLC(3)(4)(29)(30)	Series E Preferred Shares	N/A			N/A	—	16,929	153		258
Bird Holding B.V. (fka MessageBird Holding B.V.)(3)(4)(29)(30)(31)	Extended Series C Warrants	N/A			N/A	—	148,430	790		109
Brooklyn Lender Co-Invest 2, L.P. (dba Boomi)(3)(4)(29)(30)	Common Units	N/A			N/A	—	9,233,282	10,049		13,217
Elliott Alto Co-Investor Aggregator L.P.(3)(4)(29)(30)(31)	LP Interest	N/A			N/A	—	6,007	7,542		11,832
Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC)(3)(4)(29)(30)(31)	LP Interest	N/A			N/A	—	—	1,817		1,773
Nscale Global Holdings Limited(3)(4)(29)(30)(31)	Preferred equity	N/A			N/A	—	4,996	5,502		6,114
Nscale Global Holdings Limited(3)(4)(29)(30)(31)	Series B Preferred Shares	N/A			N/A	—	9,657	3,669		10,634
Project Alpine Co-Invest Fund, LP(3)(4)(29)(30)(31)	LP Interest	N/A			N/A	12,000	—	12,582		13,073
Project Hotel California Co-Invest Fund, L.P.(3)(29)(30)(31)	LP Interest	N/A			N/A	4,027	—	4,182		3,907
Thunder Topco L.P. (dba Vector Solutions)(3)(4)(29)(30)	Common Units	N/A			N/A	—	5,968,267	6,324		6,273

VEPF VIII Co-Invest 8-A, L.P.(3)(4)(29)(30)	Limited Partner Interest	N/A			N/A	982	—	982		982
WMC Bidco, Inc. (dba West Monroe)(3)(4)(6)(30)	Senior Preferred Stock	N/A		11.25%	N/A	—	50,077	79,863		79,476
Zoro TopCo, L.P.(3)(4)(29)(30)	Class A Common Units	N/A			N/A	—	1,064,900	10,830		8,595
Zoro TopCo, Inc.(3)(4)(9)(30)	Series A Preferred Equity	S+		9.50%	N/A	—	4,222	4,612		4,531
								148,897		160,774		2.2	%
Manufacturing
Gloves Holdings, LP (dba Protective Industrial Products)(3)(4)(29)(30)	LP Interest	N/A			N/A	—	48,099	5,395		7,433

Windows Entities(3)(4)(30)(31)(32)	LLC Units	N/A			N/A	—	31,844	60,319		138,629
								65,714		146,062		2.0	%
Telecommunications
Equity NewCo S.A. (dba Netceed)(3)(4)(29)(30)(31)	Common Equity	N/A			N/A	—	24,178,147	158		152
								158		152		—	%
Total non-controlled/non-affiliated portfolio company equity investments								$	869,675	$	991,033	13.9	%
Total non-controlled/non-affiliated portfolio company investments								$	13,091,070	$	12,850,691	179.6	%

Non-controlled/affiliated portfolio company investments

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)		Fair Value		% of Net Assets
Debt Investments(7)
Education
Pluralsight, LLC(3)(4)(9)(24)	First lien senior secured loan	S+	3.00%	1.50%	8/2029	7,750	—	7,724		7,323
Pluralsight, LLC(3)(4)(8)(24)	First lien senior secured loan	S+	3.00%	1.50%	8/2029	15,499	—	15,448		14,647
Pluralsight, LLC(3)(4)(8)(24)(28)	First lien senior secured loan	S+		7.50%	8/2029	27,642	—	25,749		10,366
								48,921		32,336		0.5	%




Total non-controlled/affiliated debt investments								48,921		32,336		0.5	%
Total non-controlled/affiliated misc. debt commitments(22)(23)(Note 8)								$	—	$	(734)	—	%
Total non-controlled/affiliated portfolio company debt investments								$	48,921	$	31,602	0.4	%

Equity Investments
Asset based lending and fund finance
Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC)(3)(5)(24)(26)(30)(31)(34)	Specialty finance equity investment	N/A			N/A	112,273	—	112,273		111,644
								112,273		111,644		1.6	%
Education
Paradigmatic Holdco LLC (dba Pluralsight)(3)(4)(24)(29)(30)	Common stock	N/A			N/A	—	7,619,079	20,149		—
								20,149		—		—	%
Pharmaceuticals
LSI Financing 1 DAC(3)(4)(24)(30)(31)	Specialty finance equity investment	N/A			N/A	6,748	—	6,785		6,757
								6,785		6,757		0.1	%




Total non-controlled/affiliated equity portfolio company investments								$	139,207	$	118,401	1.7	%
Total non-controlled/affiliated portfolio company investments								$	188,128	$	150,003	2.1	%

Controlled/affiliated portfolio company investments
Debt Investments(7)
Advertising and media
Swipe Acquisition Corporation (dba PLI)(3)(4)(9)(24)	First lien senior secured loan	S+	8.00%		11/2027	72,529	—	72,335		72,529
Swipe Acquisition Corporation (dba PLI)(3)(4)(9)(22)(24)	First lien senior secured loan	S+	5.00%		11/2027	46,048	—	45,845		45,924
								118,180		118,453		1.7	%
Asset based lending and fund finance
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(3)(4)(6)(24)(31)	Specialty finance debt investment	N/A		12.00%	7/2030	70,069	—	69,943		70,069
AAM Series 2.1 Aviation Feeder, LLC(3)(4)(6)(24)(31)	Specialty finance debt investment	N/A		12.00%	11/2030	89,529	—	89,372		89,529
								159,315		159,598		2.2	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)		Fair Value		% of Net Assets
Distribution
PS Operating Company LLC (fka QC Supply, LLC)(4)(9)(24)(28)	First lien senior secured loan	S+		6.26%	12/2026	17,406	—	13,366		2,437
PS Operating Company LLC (fka QC Supply, LLC)(4)(9)(22)(24)(28)	First lien senior secured revolving loan	S+	6.00%		12/2026	4,925	—	3,844		(316)
								17,210		2,121		—	%
Household products
Walker Edison Furniture Company LLC(3)(4)(6)(22)(24)(28)	First lien senior secured loan	N/A	10.00%		N/A	14,537	—	14,187		14,537
Walker Edison Furniture Company LLC(3)(4)(10)(22)(24)(28)	First lien senior secured delayed draw term loan	S+	6.75%		N/A	6,827	—	5,976		206
								20,163		14,743		0.2	%
Infrastructure and environmental services
Eagle Infrastructure Services, LLC(4)(9)(24)	First lien senior secured loan	S+	7.50%		4/2028	87,138	—	86,328		87,138
								86,328		87,138		1.2	%
Specialty retail
Notorious Holdings LLC (dba Beauty Industry Group)(3)(4)(9)(24)	First lien senior secured loan	S+		9.00%	12/2031	21,393	—	21,193		20,858
Notorious Topco, LLC (dba Beauty Industry Group)(3)(4)(9)(24)	First lien senior secured loan	S+		7.25%	12/2030	44,356	—	44,175		43,690
								65,368		64,548		0.9	%
Total controlled/affiliated debt company investments								$	466,564	$	446,601	6.2	%
Total controlled/affiliated misc. debt commitments(22)(23)(Note 8)								$	—	$	(129)	—	%
Total controlled/affiliated debt portfolio company investments								$	466,564	$	446,472	6.2	%

Equity Investments
Advertising and media
New PLI Holdings, LLC (dba PLI)(3)(4)(24)(29)(30)	Class A Common Units	N/A			N/A	—	86,745	48,007		87,022
								48,007		87,022		1.2	%
Asset based lending and fund finance
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(3)(4)(22)(24)(29)(30)(31)	Specialty finance equity investment	N/A			N/A	31,923	—	32,417		38,790
AAM Series 2.1 Aviation Feeder, LLC(3)(4)(24)(29)(30)(31)	Specialty finance equity investment	N/A			N/A	36,050	—	37,066		53,868
Wingspire Capital Holdings LLC(3)(4)(22)(24)(26)(29)(30)	Specialty finance equity investment	N/A			N/A	500,552	—	500,552		606,792
								570,035		699,450		9.8	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par	Shares/Units	Amortized Cost(2)(27)		Fair Value		% of Net Assets
Buildings and real estate
OWL-HP FINANCE LLC(3)(5)(22)(24)(26)(29)(30)(31)	Specialty finance equity investment	N/A			N/A	17,277	—	17,278		17,302
								17,278		17,302
Distribution
PS Op Holdings LLC (fka QC Supply, LLC)(4)(24)(29)(30)	Class A Common Units	N/A			N/A	—	248,271	4,300		—
								4,300		—		—	%



Infrastructure and environmental services
Eagle Infrastructure Services, LLC(4)(24)(29)(30)	Common Units	N/A			N/A	—	576,276	24,058		84,971
								24,058		84,971		1.2	%
Insurance
Fifth Season Investments LLC(3)(4)(24)(30)	Specialty finance equity investment	N/A			N/A	—	27	263,536		303,148
								263,536		303,148		4.2	%
Joint ventures
Blue Owl Credit SLF LLC(3)(5)(24)(26)(30)(31)	LLC Interest	N/A			N/A	427,085	—	427,089		388,027
Blue Owl Leasing LLC(3)(5)(24)(26)(29)(30)(31)	LLC Interest	N/A			N/A	860	—	860		856
								427,949		388,883		5.4	%
Pharmaceuticals
LSI Financing LLC(3)(5)(22)(24)(30)(31)	Specialty finance equity investment	N/A			N/A	257,663	—	257,334		274,717
								257,334		274,717		3.8	%
Specialty retail
Notorious Purchaser II, Inc. (dba Beauty Industry Group)(3)(4)(24)(29)(30)	Class B Common Stock	N/A			N/A	—	3,440	41,971		41,542
								41,971		41,542		0.6	%
Total controlled/affiliated equity company investments								$	1,654,468	$	1,897,035	26.5	%
Total controlled/affiliated portfolio company investments								$	2,121,032	$	2,343,507	32.8	%
Total Investments								$	15,400,230	$	15,344,201	214.5	%

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


Interest Rate Swaps as of March 31, 2026
	Company Receives	Company Pays	Maturity Date	Notional Amount		Fair Value		Upfront Payments/Receipts		Unrealized Appreciation (Depreciation)(a)		Hedged Instrument	Footnote Reference
Interest rate swap	2.63%	S - 0.907%	1/15/2027	$	500,000	$	(826)	$	—	$	(826)	2027 Notes	Notes 5 and 7
Interest rate swap	5.95%	S + 2.255%	2/15/2029	600,000		(605)		—		(605)		2029 Notes	Notes 5 and 7
Interest rate swap	5.95%	S + 1.922%	2/15/2029	400,000		4,011		—		4,011		2029 Notes	Notes 5 and 7
Interest rate swap	6.20%	S + 2.392%	7/15/2030	500,000		2,033		—		2,033		2030 Notes	Notes 5 and 7
Total				$	2,000,000	$	4,613			$	4,613

(a) Amounts are presented in accordance with Regulation S-X 17 CFR § 210.12-13C. Refer to “Note 7 — Derivative Instruments” for additional details on the Company’s interest rate swaps.


	Forward Contracts as of March 31, 2026
	Notional Amount to be Purchased		Notional Amount to be Sold		Counterparty	Settlement Date	Unrealized Appreciation / (Depreciation)(a)
Foreign currency forward contract	$	126,079	£	94,190	Goldman Sachs Bank USA	4/20/2026	$	1,489
Foreign currency forward contract	$	247,532	€	208,670	Goldman Sachs Bank USA	7/17/2026	5,231
Foreign currency forward contract	$	6,296	€	5,301	SMBC Capital Markets, Inc.	7/17/2026	141
Foreign currency forward contract	$	1,730	A$	2,580	Goldman Sachs Bank USA	4/20/2026	(50)
Foreign currency forward contract	$	19,760	£	14,775	SMBC Capital Markets, Inc.	4/20/2026	216
Foreign currency forward contract	$	2,186	C$	2,967	Royal Bank of Canada	10/13/2026	36
Foreign currency forward contract	$	81,237	C$	111,549	Royal Bank of Canada	10/13/2026	431
Foreign currency forward contract	A$	500	$	352	Goldman Sachs Bank USA	4/20/2026	(7)
Total							$	7,487

(a)Amounts are presented in accordance with Regulation S-X 17 CFR § 210.12-13B. Refer to “Note 7 — Derivative Instruments” for additional details on the Company’s foreign currency forward contracts.

_______________

(1)Certain portfolio company investments are subject to contractual restrictions on sales. Refer to footnote 30 for additional information on the Company’s 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)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.”

(4)These investments were valued using unobservable inputs and are considered Level 3 investments.

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

(6)Investment contains a fixed-rate structure.

(7)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), Canadian Overnight Repo Rate Average (“CORRA” or “C”) (which can include one- or three-month CORRA), SONIA (“SONIA” or “SA”), Australian Bank Bill Swap Bid Rate (“BBSY” or “B”) (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.

(8)The interest rate on these loans is subject to 1 month SOFR, which as of March 31, 2026 was 3.66%.

(9)The interest rate on these loans is subject to 3 month SOFR, which as of March 31, 2026 was 3.68%.

(10)The interest rate on these loans is subject to 6 month SOFR, which as of March 31, 2026 was 3.70%.

(11)Reserved.

(12)The interest rate on these loans is subject to Prime, which as of March 31, 2026 was 6.75%.

(13)The interest rate on this loan is subject to 1 month EURIBOR, which as of March 31, 2026 was 1.89%.

(14)The interest rate on this loan is subject to 3 month EURIBOR, which as of March 31, 2026 was 2.08%.

(15)The interest rate on this loan is subject to 6 month EURIBOR, which as of March 31, 2026 was 2.48%.

(16)Reserved.

(17)The interest rate on this loan is subject to 3 month BBSY, which as of March 31, 2026 was 4.31%.

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)

(18)Reserved.

(19)The interest rate on this loan is subject to SONIA, which as of March 31, 2026 was 3.73%.

(20)Reserved.

(21)The interest rate on these loans is subject to 3 month CORRA, which as of March 31, 2026 was 2.29%.

(22)Position or portion thereof is a partially unfunded debt or equity commitment. See “Note 8 — Commitments and Contingencies.”


					Unfunded
Company	Commitment Type	Commitment Expiration Date	Funded Commitment		Commitment		Fair Value(23)
Non-controlled/non-affiliated - debt commitments
Aerosmith Bidco 1 Limited (dba Audiotonix)	First lien senior secured delayed draw term loan	7/2027	$	—	$	72,726	$	—
AI Titan Parent, Inc. (dba Prometheus Group)	First lien senior secured delayed draw term loan	9/2026	340		1,170		—
AlphaSense, Inc.	First lien senior secured delayed draw term loan	6/2029	—		143		(1)
AmeriLife Holdings LLC	First lien senior secured delayed draw term loan	6/2026	1,891		87		—
Arctic Holdco, LLC (dba Novvia Group)	First lien senior secured delayed draw term loan	1/2027	6,535		4,046		—
Arctic US Bidco, Inc. (dba ThermoSafe)	First lien senior secured delayed draw term loan	11/2027	—		20,833		(104)
Artifact Bidco, Inc. (dba Avetta)	First lien senior secured delayed draw term loan	7/2027	—		2,940		(15)
Associations, Inc.	First lien senior secured delayed draw term loan	7/2028	15,462		16,859		—
Brightway Holdings, LLC	First lien senior secured delayed draw term loan	7/2027	633		5,050		—
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC)	First lien senior secured delayed draw term loan	6/2026	2,005		2,463		—
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC)	First lien senior secured delayed draw term loan	1/2027	112		8,843		—
CHA Vision Holdings, Inc. (fka FR Vision Holdings, Inc.)	First lien senior secured delayed draw term loan	9/2027	840		7,804		—
CivicPlus, LLC	First lien senior secured delayed draw term loan	5/2027	9,483		6,554		—
CMG HoldCo, LLC (dba Crete United)	First lien senior secured delayed draw term loan	7/2027	438		840		(12)
Commander Buyer, Inc. (dba CenExel)	First lien senior secured delayed draw term loan	6/2027	—		15,339		—
Coupa Holdings, LLC	First lien senior secured delayed draw term loan	6/2027	—		140		(5)
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)	First lien senior secured delayed draw term loan	7/2027	591		2,434		—
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)	First lien senior secured delayed draw term loan	8/2027	—		732		(7)
DCG ACQUISITION CORP. (dba DuBois Chemical)	First lien senior secured delayed draw term loan	6/2026	8,386		3,430		—
dentalcorp Health Services Ltd. (fka Aryeh Bidco Investment Ltd.)	First lien senior secured delayed draw term loan	1/2028	2,126		12,755		—
DuraServ LLC	First lien senior secured delayed draw term loan	11/2027	—		28,387		(355)
EOS Finco S.A.R.L (dba Netceed)	First lien senior secured delayed draw term loan	7/2027	694		1,053		—
Essential Services Holding Corporation (dba Turnpoint)	First lien senior secured delayed draw term loan	6/2026	—		4,946		(111)
Eternal Buyer, LLC (dba Wedgewood Weddings)	First lien senior secured delayed draw term loan	6/2027	—		7,000		—

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


				Unfunded
Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Commitment	Fair Value(23)
FR Flow Control CB LLC (dba Trillium Flow Technologies)	First lien senior secured delayed draw term loan	6/2026	—	6,380	—
GS Acquisitionco, Inc. (dba insightsoftware)	First lien senior secured delayed draw term loan	5/2027	—	888	(29)
Hercules Borrower, LLC (dba The Vincit Group)	First lien senior secured delayed draw term loan	9/2026	—	6,587	—
Horizon Avionics Buyer, LLC (dba Acron Aviation)	First lien senior secured delayed draw term loan	11/2027	—	6,410	(16)
Indigo Buyer, Inc. (dba Inovar Packaging Group)	First lien senior secured delayed draw term loan	7/2026	5,790	946	—
Indigo Buyer, Inc. (dba Inovar Packaging Group)	First lien senior secured delayed draw term loan	7/2026	—	1,737	—
Indigo Buyer, Inc. (dba Inovar Packaging Group)	First lien senior secured loan	3/2028	—	2,179	—
Integrity Marketing Acquisition, LLC	First lien senior secured delayed draw term loan	8/2026	—	6,191	—
Interoperability Bidco, Inc. (dba Lyniate)	First lien senior secured delayed draw term loan	6/2026	—	4,762	(60)
Jawbreaker Parent, Inc.	First lien senior secured delayed draw term loan	1/2029	—	8,017	(100)
Jawbreaker Parent, Inc.	First lien senior secured delayed draw term loan	4/2026	—	19,883	(348)
Klick Inc.	First lien senior secured delayed draw term loan	11/2027	—	7,216	(36)
KRIV Acquisition Inc. (dba Riveron)	First lien senior secured delayed draw term loan	9/2027	—	556	—
KRIV Acquisition Inc. (dba Riveron)	First lien senior secured delayed draw term loan	2/2028	—	2,617	—
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)	First lien senior secured delayed draw term loan	9/2026	82	317	—
Lightbeam Bidco, Inc. (dba Lazer Spot)	First lien senior secured delayed draw term loan	12/2027	604	249	—
Litera Bidco LLC	First lien senior secured delayed draw term loan	11/2026	30,846	2,726	—
Litera Bidco LLC	First lien senior secured delayed draw term loan	5/2027	—	14,154	(248)
MAJCO LLC (dba Big Brand Tire & Service)	First lien senior secured delayed draw term loan	9/2027	13,662	23,128	—
Maple Acquisition, LLC (dba Medicus)	First lien senior secured delayed draw term loan	5/2026	—	15,576	—
National Dentex Labs LLC (fka Barracuda Dental LLC)	First lien senior secured delayed draw term loan	5/2026	9,125	1,366	—
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.	First lien senior secured EUR delayed draw term loan	3/2027	—	20,017	(200)
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.	First lien senior secured EUR revolving loan	3/2031	—	3,735	(65)
Nelipak Holding Company	First lien senior secured delayed draw term loan	3/2027	5,789	3,566	—
Nova Women's Health, Inc.	First lien senior secured delayed draw term loan	7/2027	—	19,318	(48)
NSCALE SERVICES UK LTD	First lien senior secured delayed draw term loan	8/2027	1,656	38,344	—
Packaging Coordinators Midco, Inc.	First lien senior secured delayed draw term loan	10/2027	1,641	1,461	—
Packaging Coordinators Midco, Inc.	First lien senior secured delayed draw term loan	4/2026	—	21,550	(54)
Paris US Holdco, Inc. (dba Precinmac)	First lien senior secured delayed draw term loan	12/2026	—	7,346	—

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


				Unfunded
Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Commitment	Fair Value(23)
PerkinElmer U.S. LLC	First lien senior secured delayed draw term loan	10/2027	—	4,907	—
Plasma Buyer LLC (dba PathGroup)	First lien senior secured delayed draw term loan	3/2027	30	71	—
Premise Health Holding Corp.	First lien senior secured delayed draw term loan	11/2027	3,986	2,664	—
RL Datix Holdings (USA), Inc.	First lien senior secured delayed draw term loan	4/2027	—	12,566	(94)
Salinger Bidco Inc. (dba Surgical Information Systems)	First lien senior secured delayed draw term loan	8/2026	—	3,939	—
Sentinel Buyer Corp. (dba SimpliSafe)	First lien senior secured delayed draw term loan	11/2027	—	3,358	(34)
Severin Acquisition, LLC (dba PowerSchool)	First lien senior secured delayed draw term loan	10/2027	76	239	—
SimonMed, Inc.	First lien senior secured delayed draw term loan	2/2027	68	22	—
Simplicity Financial Marketing Group Holdings, Inc.	First lien senior secured delayed draw term loan	12/2026	9,168	1,716	—
Smarsh Inc.	First lien senior secured delayed draw term loan	1/2027	42	331	(6)
Soleo Holdings, Inc.	First lien senior secured delayed draw term loan	2/2027	—	8,595	—
Sonny's Enterprises, LLC	First lien senior secured delayed draw term loan	6/2027	14,887	10,943	—
Spaceship Purchaser, Inc. (dba Squarespace)	First lien senior secured delayed draw term loan	10/2027	—	2,492	(50)
Spotless Brands, LLC	First lien senior secured delayed draw term loan	3/2027	5,562	23,928	—
STS PARENT, LLC (dba STS Aviation Group)	First lien senior secured delayed draw term loan	10/2026	—	31,189	(156)
Tamarack Intermediate, L.L.C. (dba Verisk 3E)	First lien senior secured delayed draw term loan	7/2027	114	276	—
TBRS, Inc. (dba TEAM Technologies)	First lien senior secured delayed draw term loan	11/2026	—	4,838	—
Themis Solutions Inc. (dba Clio)	First lien senior secured delayed draw term loan	10/2027	—	3,750	(103)
THG Acquisition, LLC (dba Hilb)	First lien senior secured delayed draw term loan	10/2026	3,111	5,028	—
Troon Golf, L.L.C.	First lien senior secured delayed draw term loan	9/2026	6,170	6,248	—
Unified Women's Healthcare, LP	First lien senior secured delayed draw term loan	9/2027	—	1,235	(2)
Vensure Employer Services, Inc.	First lien senior secured delayed draw term loan	3/2028	—	265	(1)
Vessco Midco Holdings, LLC	First lien senior secured delayed draw term loan	7/2026	14,072	1,168	—
Vessco Midco Holdings, LLC	First lien senior secured delayed draw term loan	5/2028	—	14,139	—
Wipfli Advisory LLC	First lien senior secured delayed draw term loan	4/2028	—	9,303	(47)
Wrench Group LLC	First lien senior secured delayed draw term loan	9/2027	—	12,814	(64)
WU Holdco, Inc. (dba PurposeBuilt Brands)	First lien senior secured delayed draw term loan	4/2027	—	22,823	(57)
Aerosmith Bidco 1 Limited (dba Audiotonix)	First lien senior secured revolving loan	7/2030	—	30,754	—
AI Titan Parent, Inc. (dba Prometheus Group)	First lien senior secured revolving loan	8/2031	—	943	(28)

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


				Unfunded
Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Commitment	Fair Value(23)
AmeriLife Holdings LLC	First lien senior secured revolving loan	8/2028	167	833	—
Anaplan, Inc.	First lien senior secured revolving loan	6/2028	—	11,589	(261)
Applied Composites Holdings, LLC (fka AC&A Enterprises Holdings, LLC)*	First lien senior secured revolving loan	7/2027	3,595	—	—
Aptean Acquiror, Inc. (dba Aptean)	First lien senior secured revolving loan	1/2031	350	1,180	—
Arctic Holdco, LLC (dba Novvia Group)	First lien senior secured revolving loan	1/2031	2,342	4,756	—
Arctic US Bidco, Inc. (dba ThermoSafe)	First lien senior secured multi-currency revolving loan	11/2032	486	6,458	—
Artifact Bidco, Inc. (dba Avetta)	First lien senior secured revolving loan	7/2030	—	2,100	(21)
Ascend Buyer, LLC (dba PPC Flexible Packaging)	First lien senior secured revolving loan	9/2028	1,133	6,962	—
Associations, Inc.	First lien senior secured revolving loan	7/2028	—	26,031	—
AWP Group Holdings, Inc.	First lien senior secured revolving loan	12/2030	82	44	—
Azurite Intermediate Holdings, Inc. (dba Alteryx, Inc.)	First lien senior secured revolving loan	3/2031	—	1,758	(44)
Baker Tilly Advisory Group, LP	First lien senior secured revolving loan	6/2030	—	15,134	—
Bamboo US BidCo LLC	First lien senior secured revolving loan	10/2029	—	1,538	—
Bayshore Intermediate #2, L.P. (dba Boomi)	First lien senior secured revolving loan	10/2027	1,832	5,555	—
BCPE Osprey Buyer, Inc. (dba PartsSource)	First lien senior secured revolving loan	8/2028	14,454	4,770	—
Belmont Buyer, Inc. (dba Valenz)	First lien senior secured revolving loan	6/2029	58	378	—
Blast Bidco Inc. (dba Bazooka Candy Brands)	First lien senior secured revolving loan	10/2029	—	4,440	—
BP Veraison Buyer, LLC (dba Sun World)	First lien senior secured revolving loan	5/2029	—	27,932	—
Brightway Holdings, LLC	First lien senior secured revolving loan	12/2029	—	5,263	(13)
Bristol Hospice L.L.C.	First lien senior secured revolving loan	8/2032	—	4,007	—
By Light Professional IT Services LLC	First lien senior secured revolving loan	7/2031	—	3,178	(103)
Cambrex Corporation	First lien senior secured revolving loan	3/2032	23	79	—
Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.)	First lien senior secured revolving loan	8/2027	205	1,469	—
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC)	First lien senior secured revolving loan	6/2029	—	2,239	—
CHA Vision Holdings, Inc. (fka FR Vision Holdings, Inc.)	First lien senior secured revolving loan	1/2030	—	2,882	—
CivicPlus, LLC	First lien senior secured revolving loan	8/2030	—	4,795	(132)
CMG HoldCo, LLC (dba Crete United)	First lien senior secured revolving loan	11/2030	53	228	—
Commander Buyer, Inc. (dba CenExel)	First lien senior secured revolving loan	6/2032	—	10,226	(51)
Coupa Holdings, LLC	First lien senior secured revolving loan	2/2029	—	107	(4)
Creek Parent, Inc. (dba Catalent)	First lien senior secured revolving loan	12/2031	—	16,401	(123)
Crewline Buyer, Inc. (dba New Relic)	First lien senior secured revolving loan	11/2030	—	14,729	(368)
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)	First lien senior secured revolving loan	8/2031	—	7,573	(38)
DCG ACQUISITION CORP. (dba DuBois Chemical)	First lien senior secured revolving loan	6/2031	—	11,816	(148)
Diamond Mezzanine 24 LLC (dba United Risk)*	First lien senior secured revolving loan	10/2030	1,161	—	—
Deerfield Dakota Holdings	First lien senior secured revolving loan	9/2032	2,153	8,612	—

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


				Unfunded
Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Commitment	Fair Value(23)
Denali Intermediate Holdings, Inc. (dba Dun & Bradstreet)	First lien senior secured revolving loan	8/2032	—	7,736	(174)
dentalcorp Health Services Ltd. (fka Aryeh Bidco Investment Ltd.)	First lien senior secured revolving loan	1/2033	—	10,629	(53)
Dresser Utility Solutions, LLC	First lien senior secured revolving loan	3/2029	—	8,829	—
DuraServ LLC	First lien senior secured revolving loan	6/2030	6,334	11,260	—
Eagle Family Foods Group LLC	First lien senior secured revolving loan	8/2030	—	216	(1)
EET Buyer, Inc. (dba e-Emphasys)	First lien senior secured revolving loan	11/2027	—	2,409	(36)
Einstein Parent, Inc. (dba Smartsheet)	First lien senior secured revolving loan	1/2031	—	4,488	(112)
Essential Services Holding Corporation (dba Turnpoint)	First lien senior secured revolving loan	6/2030	1,236	1,855	—
Eternal Buyer, LLC (dba Wedgewood Weddings)	First lien senior secured revolving loan	6/2032	—	7,000	(35)
Evolution BuyerCo, Inc. (dba SIAA)	First lien senior secured revolving loan	4/2030	—	23	—
Fiesta Purchaser, Inc. (dba Shearer's Foods)	First lien senior secured revolving loan	2/2029	1,967	6,230	—
Flexera Software LLC	First lien senior secured revolving loan	8/2032	—	1,348	(34)
Fortis Solutions Group, LLC	First lien senior secured revolving loan	10/2027	1,625	1,986	—
Foundation Consumer Brands, LLC	First lien senior secured revolving loan	2/2029	—	4,610	(12)
FR Flow Control CB LLC (dba Trillium Flow Technologies)	First lien senior secured revolving loan	12/2029	—	5,220	—
Gainsight, Inc.	First lien senior secured revolving loan	7/2027	—	4,152	(73)
Galls, LLC	First lien senior secured revolving loan	3/2030	7,231	7,992	—
Gaylord Chemical Company, L.L.C.	First lien senior secured revolving loan	12/2027	6,188	10,096	—
Gerson Lehrman Group, Inc.	First lien senior secured revolving loan	12/2028	—	7,595	(133)
GI Apple Midco LLC (dba Atlas Technical Consultants)	First lien senior secured revolving loan	4/2029	50	61	—
GI Ranger Intermediate, LLC (dba Rectangle Health)	First lien senior secured revolving loan	10/2027	817	1,225	—
Granicus, Inc.	First lien senior secured revolving loan	1/2031	—	2,467	(31)
GS Acquisitionco, Inc. (dba insightsoftware)	First lien senior secured revolving loan	5/2028	130	118	—
H&F Opportunities LUX III S.À R.L (dba Checkmarx)	First lien senior secured revolving loan	4/2028	—	2,199	(27)
Hercules Borrower, LLC (dba The Vincit Group)	First lien senior secured revolving loan	12/2028	—	10,202	—
HGH Purchaser, Inc. (dba Horizon Services)	First lien senior secured revolving loan	11/2028	13,454	3,177	—
Hissho Parent, LLC	First lien senior secured revolving loan	5/2029	—	2,291	—
Horizon Avionics Buyer, LLC (dba Acron Aviation)	First lien senior secured revolving loan	3/2032	654	2,551	—
Hyland Software, Inc.	First lien senior secured revolving loan	9/2029	—	3,198	(96)
Icefall Parent, Inc. (dba EngageSmart)	First lien senior secured revolving loan	1/2030	—	511	(6)
IG Investments Holdings, LLC (dba Insight Global)	First lien senior secured revolving loan	9/2028	—	11,989	—
Indigo Buyer, Inc. (dba Inovar Packaging Group)	First lien senior secured revolving loan	5/2028	—	193	—
Indikami Bidco, LLC (dba IntegriChain)	First lien senior secured revolving loan	6/2030	1,586	501	—
Integrity Marketing Acquisition, LLC	First lien senior secured revolving loan	8/2028	—	4,599	—

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


				Unfunded
Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Commitment	Fair Value(23)
Interoperability Bidco, Inc. (dba Lyniate)	First lien senior secured revolving loan	3/2028	564	5,078	—
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))	First lien senior secured revolving loan	12/2028	—	4,007	(30)
Jawbreaker Parent, Inc.	First lien senior secured revolving loan	1/2033	—	8,017	(140)
JS Parent, Inc. (dba Jama Software)	First lien senior secured revolving loan	4/2031	—	88	—
Klick Inc.	First lien senior secured revolving loan	11/2031	—	7,216	(54)
KRIV Acquisition Inc. (dba Riveron)	First lien senior secured revolving loan	7/2031	612	833	—
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)	First lien senior secured revolving loan	12/2029	—	15,542	(117)
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)	First lien senior secured revolving loan	9/2029	—	67	—
Lightbeam Bidco, Inc. (dba Lazer Spot)	First lien senior secured revolving loan	5/2029	—	476	(2)
Lignetics Investment Corp.	First lien senior secured revolving loan	10/2026	—	11,744	—
Litera Bidco LLC	First lien senior secured revolving loan	5/2028	—	8,056	(141)
MAJCO LLC (dba Big Brand Tire & Service)	First lien senior secured revolving loan	9/2032	—	10,511	(26)
Maple Acquisition, LLC (dba Medicus)	First lien senior secured revolving loan	5/2030	—	11,682	—
Mario Purchaser, LLC (dba Len the Plumber)	First lien senior secured revolving loan	4/2028	1,921	13	—
Matterhorn Finco, Inc.	First lien senior secured revolving loan	3/2033	—	5,302	(27)
MHE Intermediate Holdings, LLC (dba OnPoint Group)	First lien senior secured revolving loan	7/2027	7,643	11,464	—
Milan Laser Holdings LLC	First lien senior secured revolving loan	4/2027	—	8,112	(122)
Ministry Brands Holdings, LLC	First lien senior secured revolving loan	12/2027	90	987	—
Minotaur Acquisition, Inc. (dba Inspira Financial)	First lien senior secured revolving loan	6/2030	—	19,063	(48)
Modernizing Medicine, Inc. (dba ModMed)	First lien senior secured revolving loan	4/2032	—	71	—
Monotype Imaging Holdings Inc.	First lien senior secured revolving loan	2/2030	—	17,932	(359)
National Dentex Labs LLC (fka Barracuda Dental LLC)	First lien senior secured revolving loan	5/2026	12,010	109	—
Natural Partners, LLC	First lien senior secured revolving loan	11/2030	—	469	—
Nelipak Holding Company	First lien senior secured revolving loan	3/2031	1,888	5,105	—
NMI Acquisitionco, Inc. (dba Network Merchants)	First lien senior secured revolving loan	9/2028	—	2,090	(31)
Norvax, LLC (dba GoHealth)*	First lien senior secured revolving loan	8/2029	4,026	—	—
Nova Women's Health, Inc.	First lien senior secured revolving loan	1/2032	—	1,545	(8)
OB Hospitalist Group, Inc.	First lien senior secured revolving loan	9/2027	—	20,496	—
Offen, Inc.	First lien senior secured revolving loan	7/2029	803	1,174	—
Ole Smoky Distillery, LLC	First lien senior secured revolving loan	3/2028	—	116	(9)
Packaging Coordinators Midco, Inc.	First lien senior secured revolving loan	10/2032	—	16,889	(169)
Paris US Holdco, Inc. (dba Precinmac)	First lien senior secured revolving loan	12/2031	275	3,397	—
Patriot Acquisition TopCo S.À R.L. (dba Corza Health, Inc.)	First lien senior secured revolving loan	1/2028	—	14,863	—
Plasma Buyer LLC (dba PathGroup)*	First lien senior secured revolving loan	5/2028	163	—	—
PDI TA Holdings, Inc.	First lien senior secured revolving loan	2/2031	1,703	122	—
PetVet Care Centers, LLC	First lien senior secured revolving loan	11/2029	3,660	14,639	—
PPV Intermediate Holdings, LLC	First lien senior secured revolving loan	8/2029	780	1,301	—

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


				Unfunded
Company	Commitment Type	Commitment Expiration Date	Funded Commitment	Commitment	Fair Value(23)
Premise Health Holding Corp.	First lien senior secured revolving loan	11/2031	—	8,571	(129)
Puma Buyer, LLC (dba PANTHERx)	First lien senior secured revolving loan	3/2032	—	208	—
QAD, Inc.	First lien senior secured revolving loan	11/2027	—	9,119	(137)
Quva Pharma, Inc.	First lien senior secured revolving loan	4/2028	—	5,182	(155)
Rhea Parent, Inc.	First lien senior secured revolving loan	12/2030	—	4,446	(44)
RL Datix Holdings (USA), Inc.	First lien senior secured revolving loan	10/2030	—	11,003	(193)
Salinger Bidco Inc. (dba Surgical Information Systems)	First lien senior secured revolving loan	5/2031	—	3,939	(10)
Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC)	First lien senior secured revolving loan	7/2027	6,934	2,066	—
Securonix, Inc.	First lien senior secured revolving loan	4/2028	—	305	(59)
Senderra RX Acquisition, LLC	First lien senior secured revolving loan	3/2033	923	3,692	—
Sensor Technology Topco, Inc. (dba Humanetics)	First lien senior secured revolving loan	5/2028	485	6,785	—
Severin Acquisition, LLC (dba PowerSchool)	First lien senior secured revolving loan	10/2031	50	139	—
SimonMed, Inc.	First lien senior secured revolving loan	2/2031	33	27	—
Simplicity Financial Marketing Group Holdings, Inc.	First lien senior secured revolving loan	12/2031	—	5,464	(27)
Smarsh Inc.	First lien senior secured revolving loan	2/2029	42	156	—
Soleo Holdings, Inc.	First lien senior secured revolving loan	2/2032	—	8,595	—
Soliant Lower Intermediate, LLC (dba Soliant)	First lien senior secured revolving loan	6/2031	—	4,444	(1,156)
Sonny's Enterprises, LLC	First lien senior secured revolving loan	8/2027	17,776	4,408	—
Spaceship Purchaser, Inc. (dba Squarespace)	First lien senior secured revolving loan	10/2031	—	2,076	(52)
Spotless Brands, LLC	First lien senior secured revolving loan	7/2028	—	2,610	—
STS PARENT, LLC (dba STS Aviation Group)	First lien senior secured revolving loan	10/2030	9,824	2,651	—
SWK BUYER, Inc. (dba Stonewall Kitchen)	First lien senior secured revolving loan	3/2029	—	140	(5)
Tamarack Intermediate, L.L.C. (dba Verisk 3E)	First lien senior secured revolving loan	3/2029	—	207	(5)
TBRS, Inc. (dba TEAM Technologies)	First lien senior secured revolving loan	11/2030	—	5,529	(28)
Themis Solutions Inc. (dba Clio)	First lien senior secured revolving loan	10/2032	—	3,125	(86)
THG Acquisition, LLC (dba Hilb)	First lien senior secured revolving loan	10/2031	1,002	3,076	—
Thunder Purchaser, Inc. (dba Vector Solutions)	First lien senior secured revolving loan	6/2027	—	7,903	(158)
Troon Golf, L.L.C.	First lien senior secured revolving loan	8/2028	—	6,248	—
Truist Insurance Holdings, LLC	First lien senior secured revolving loan	5/2029	851	904	—
Unified Women's Healthcare, LP	First lien senior secured revolving loan	6/2029	—	159	(1)
USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners)	First lien senior secured revolving loan	12/2029	—	5,266	—
Valeris, Inc. (fka Phantom Purchaser, Inc.)	First lien senior secured revolving loan	9/2031	—	5,443	(14)
Vessco Midco Holdings, LLC	First lien senior secured revolving loan	7/2031	—	5,080	—
Vital Bidco AB (dba Vitamin Well)	First lien senior secured revolving loan	10/2030	—	14,522	—
Wipfli Advisory LLC	First lien senior secured revolving loan	10/2032	—	6,202	(47)
Wrench Group LLC	First lien senior secured revolving loan	9/2031	4,784	8,030	—
WU Holdco, Inc. (dba PurposeBuilt Brands)	First lien senior secured revolving loan	4/2032	1,522	5,579	—
Zendesk, Inc.	First lien senior secured revolving loan	11/2028	—	9,557	(334)

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


					Unfunded
Company	Commitment Type	Commitment Expiration Date	Funded Commitment		Commitment		Fair Value(23)
Total non-controlled/non-affiliated - debt commitments			$	325,747	$	1,459,790	$	(8,508)
Non-controlled/non-affiliated - equity commitments
Percheron Horsepower-A LP (dba Big Brand Tire & Service)	Limited Partner Interest	N/A	$	12,219	$	1,994	$	—
Polar Investors LP (dba Dentalcorp)	Common Equity	N/A	3,409		852		—
Valor Cl Blocker Feeder LP	LP Interest	N/A	2,714		1,809		—
Total non-controlled/non-affiliated - equity commitments			$	18,342	$	4,655	$	—
Non-controlled/affiliated - debt commitments
Pluralsight, LLC	First lien senior secured delayed draw term loan	8/2029	$	—	$	9,524	$	(524)
Pluralsight, LLC	First lien senior secured revolving loan	8/2029	—		3,810		(210)


Total non-controlled/affiliated - debt commitments			$	—	$	13,334	$	(734)
Controlled/affiliated - debt commitments
Walker Edison Furniture Company LLC	First lien senior secured delayed draw term loan	N/A	$	3,161	$	1,327	$	—
Walker Edison Furniture Company LLC	First lien senior secured delayed draw term loan	N/A	1,531		1,228		—
Notorious Topco, LLC (dba Beauty Industry Group)	First lien senior secured revolving loan	12/2030	—		8,601		(129)
PS Operating Company LLC (fka QC Supply, LLC)	First lien senior secured revolving loan	12/2026	4,925		1,169		—
Swipe Acquisition Corporation (dba PLI)	First lien senior secured revolving loan	11/2027	16,684		3,782		—


Total controlled/affiliated - debt commitments			$	26,301	$	16,107	$	(129)
Controlled/affiliated - equity commitments
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC	Specialty finance equity investment	N/A	$	31,923	$	42,550	$	—
LSI Financing LLC	Specialty finance equity investment	N/A	257,663		96,975		—
OWL-HP FINANCE LLC	Specialty finance equity investment	N/A	17,277		67,223		—
Wingspire Capital Holdings LLC	Specialty finance equity investment	N/A	500,552		4,448		—
Total controlled/affiliated - equity commitments			$	807,415	$	211,196	$	—
Total Portfolio Company Commitments			$	1,177,805	$	1,705,082	$	(9,371)

*Fully funded

(23)The negative cost and fair value results from unamortized fees, which are capitalized to the investment cost of unfunded commitments.

(24)As defined in the Investment Company Act of 1940, as amended (the “1940 Act”), the Company is deemed to “control” a portfolio company if the Company owns more than 25% of the portfolio company's voting securities or has the power to exercise control over management or policies, including through a management agreement. As defined in the 1940 Act, the Company is an “affiliated person” of this portfolio company if the Company owns more than 5% or more of the portfolio company’s outstanding voting securities. Transactions related to the Company’s investments in non-controlled affiliates and controlled affiliates for the three months ended March 31, 2026, were as follows:

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)


Company	Fair value as of December 31, 2025		Gross Additions (a)		Gross Reductions(b)		Net Change in Unrealized Gains (Losses)		Realized Gains (Losses)		Fair value as of March 31, 2026		Interest and PIK Income		Dividend Income		Other Income
Non - Controlled Affiliates
LSI Financing 1 DAC	$	6,657	$	—	$	—	$	100	$	—	$	6,757	$	—	$	—	$	—
Ideal Image Development, LLC	1,398		2,873		(1,897)		36,848		(39,222)		—		—		—		—
Paradigmatic Holdco LLC (dba Pluralsight)	44,210		119		(57)		(12,670)		—		31,602		480		—		26
Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC)	61,927		50,231		—		(514)		—		111,644		—		3,195		—
Total	$	114,192	$	53,223	$	(1,954)	$	23,764	$	(39,222)	$	150,003	$	480	$	3,195	$	26

Controlled Affiliates	Fair value as of December 31, 2025		Gross Additions (a)		Gross Reductions(b)		Net Change in Unrealized Gains (Losses)		Realized Gains (Losses)		Fair value as of March 31, 2026		Interest and PIK Income		Dividend Income		Other Income
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC(d)	$	109,070	$	2,546	$	—	$	(2,757)	$	—	$	108,859	$	2,061	$	—	$	—
AAM Series 2.1 Aviation Feeder, LLC(d)	143,157		2,780		(286)		(2,254)		—		143,397		2,669		—		—
Blue Owl Credit SLF LLC(c)	415,248		5,736		—		(32,957)		—		388,027		—		8,863		—
OWL-HP FINANCE LLC(c)	—		17,279		—		23		—		17,302		—		—		—
Blue Owl Leasing LLC(c)	857		—		—		(1)		—		856		—		—		—
Eagle Infrastructure Services, LLC	145,522		89		—		26,498		—		172,109		2,556		1,462		13
Fifth Season Investments LLC	403,170		—		(101,056)		1,034		—		303,148		—		8,587		—
LSI Financing LLC	210,634		67,711		(4,881)		1,253		—		274,717		—		5,379		—
New PLI Holdings, LLC (dba PLI)	202,312		3,424		—		(261)		—		205,475		2,999		1,112		25
Notorious Holdings LLC (dba Beauty Industry Group)	105,151		2,116		—		(1,306)		—		105,961		1,871		—		165
PS Operating Company LLC (fka QC Supply, LLC)	4,154		331		—		(2,364)		—		2,121		—		—		—
Walker Edison Furniture Company LLC	15,087		—		(2)		56,014		(56,356)		14,743		—		—		—
Wingspire Capital Holdings LLC	607,284		—		—		(492)		—		606,792		—		12,786		—
Total	$	2,361,646	$	102,012	$	(106,225)	$	42,430	$	(56,356)	$	2,343,507	$	12,156	$	38,189	$	203

_______________

(a)Gross additions may include increases in the cost basis of investments resulting from new investments, amounts related to 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 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.

(c)For further description of the Company's investment in Blue Owl Credit SLF LLC (“Credit SLF”), Blue Owl Leasing LLC (“Blue Owl Leasing”) and Owl-HP Finance 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.

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)

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

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

(27)As of March 31, 2026, the net estimated unrealized loss for U.S. federal income tax purposes was $113.1 million based on a tax cost basis of $15.46 billion. As of March 31, 2026, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $563.3 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $450.2 million.

(28)Loan was on non-accrual status as of March 31, 2026.

(29)Non-income producing.

(30)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 March 31, 2026, the aggregate fair value of these securities is $3.01 billion or 42.0% 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*

Specialty finance equity investment

7/1/2022

AAM Series 2.1 Aviation Feeder, LLC*

Specialty finance equity investment

7/1/2022

Accelerate Topco Holdings, LLC

Common Units

9/1/2022

Alphasense, LLC

Series E Preferred Shares

6/27/2024

Amergin Asset Management, LLC

Specialty finance equity investment

7/1/2022

ASP Conair Holdings LP

Class A Units

5/17/2021

Baypine Commander Co-Invest, LP

LP Interest

6/24/2025

BEHP Co-Investor II, L.P.

LP Interest

5/11/2022

Bird Holding B.V. (fka MessageBird Holding B.V.)

Extended Series C Warrants

5/5/2021

Blend Labs, Inc.

Warrants

7/2/2021

Blue Owl Credit SLF LLC**

LLC Interest

8/1/2024

Blue Owl Leasing LLC**

LLC Interest

6/30/2025

Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC)*

Specialty finance equity investment

8/20/2025

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

Common Units

10/1/2021

Capital Integration Systems LLC (dba CAIS)

Class D Common Units

2/27/2026

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

LP Interest

12/2/2021

Dodge Construction Network Holdings, L.P.

Class A-2 Common Units

2/23/2022

Dodge Construction Network Holdings, L.P.

Series A Preferred Units

2/23/2022

Eagle Infrastructure Services, LLC

Common Units

3/31/2023

Elliott Alto Co-Investor Aggregator L.P.

LP Interest

9/27/2022

Evolution Parent, LP (dba SIAA)

LP Interest

4/30/2021

Equity NewCo S.A. (dba Netceed)

Common Equity

1/29/2026

Fifth Season Investments LLC*

Specialty finance equity investment

7/18/2022

Gloves Holdings, LP (dba Protective Industrial Products)

LP Interest

12/29/2020

GoHealth, Inc.

Common stock

8/6/2025

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

Hissho Sushi Holdings, LLC

Class A units

5/17/2022

Hockey Parent Holdings, L.P.

Class A Common Units

9/14/2023

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

LP Interest

6/8/2022

Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.)

Perpetual Preferred Stock

6/23/2022

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

Class A Interests

9/27/2021

KPCI Co-Invest 2, L.P.

Class A Units

10/15/2025

KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)

Class A Interest

11/30/2023

LSI Financing 1 DAC*

Specialty finance equity investment

12/14/2022

LSI Financing LLC*

Specialty finance equity investment

11/25/2024

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)

Portfolio Company

Investment

Acquisition Date

Maia Aggregator, LP

Class A-2 Units

2/1/2022

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

Series A Convertible Preferred Stock

5/4/2021

Minerva Holdco, Inc.

Senior A Preferred Stock

2/15/2022

ModMed Software Midco Holdings, Inc. (dba ModMed)

Series A Preferred Units

4/30/2025

New PLI Holdings, LLC (dba PLI)

Class A Common Units

12/23/2020

Nova Women’s Health Partners Holdings, LP

Class A Units

1/28/2026

Notorious Purchaser II, Inc. (dba Beauty Industry Group)

Class B Common Stock

12/19/2025

Nscale Global Holdings Limited

Preferred equity

9/29/2025

Nscale Global Holdings Limited

Series B Preferred Shares

9/29/2025

OWL-HP FINANCE LLC*

Specialty finance equity investment

2/9/2026

Paradigmatic Holdco LLC (dba Pluralsight)

Common stock

8/22/2024

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 Trucordia)

Preferred equity

2/16/2023

PCF Holdco, LLC (dba Trucordia)

Warrants

2/16/2023

Percheron Horsepower-A LP (dba Big Brand Tire & Service)

Limited Partner Interest

9/23/2025

Polar Investors LP (dba Dentalcorp)

Common Equity

1/13/2026

Project Alpine Co-Invest Fund, LP

LP Interest

6/10/2022

PS Op Holdings LLC (fka QC Supply, LLC)

Class A Common Units

12/21/2021

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

LP Interest

8/9/2022

Rhea Acquisition Holdings, LP

Series A-2 Units

2/18/2022

Rome Topco Holdings, LLC (dba SimpliSafe)

Class A Units

11/6/2025

Rome Topco Holdings, LLC (dba SimpliSafe)

Class B Units

11/6/2025

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

Series A Preferred Stock

11/15/2023

Snowbird Manager LP

Limited Partner Interest

12/18/2025

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, Inc.)

Series A Preferred Stock

10/14/2021

TCB Holdings I LLC (dba TricorBraun)

Class A Preferred Units

1/31/2025

Thunder Topco L.P. (dba Vector Solutions)

Common Units

6/30/2021

Valor Cl Blocker Feeder LP

LP Interest

10/3/2025

VCI Intermediate TopCo 1 LLC

Class B Units

11/17/2025

VEPF VIII Co-Invest 8-A, L.P.

Limited Partner Interest

3/5/2026

Walker Edison Holdco LLC

Common Units

3/1/2023

Windows Entities

LLC Units

1/16/2020

Wingspire Capital Holdings LLC*

Specialty finance equity investment

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, Inc.

Series A Preferred Equity

11/22/2022

Zoro TopCo, L.P.

Class A Common Units

11/22/2022

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

** Refer to “Note 4 — Investments – Credit SLF LLC and Blue Owl Leasing” for further information.

(31)This portfolio company is not a qualifying asset under Section 55(a) of 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 March 31, 2026, non-qualifying assets represented 15.4% of total assets as calculated in accordance with the regulatory requirements.

(32)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 $23.2 million, Atlanta Custom Windows, LLC with a fair value of $11.5 million

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of March 31, 2026

(Amounts in thousands, except share amounts)
(Unaudited)

and Fairchester Custom Windows with a fair value of $7.6 million as of March 31, 2026. Greater Toronto Custom Windows, Corp. is considered a non-qualifying asset.

(33)The Company invests 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.

(34)Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC) (“BOCSO”) was formed to hold alternative credit assets, including asset-based finance (“ABF”). ABF is a subsector of private credit focused on generating income from pools of financial, physical or other assets. As of March 31, 2026, the portfolio consists of five investments totaling $1.03 billion at cost and fair value, respectively, ranging in cost from $24.9 million to $379.6 million and with a fair value ranging from $24.7 million to $378.0 million. The largest investment is 36.9% of the total cost of BOCSO's portfolio. As of March 31, 2026 the portfolio asset class composition was 66% ABF - Specialty finance, 32.0% ABF - Leasing, and 2.4% ABF - Commercial Real Estate.

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

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2025

(Amounts in thousands, except share amounts)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par / Units		Amortized Cost(2)(27)		Fair Value		% of Net Assets
Non-controlled/non-affiliated portfolio company investments
Debt Investments(7)
Advertising and media
IRI Group Holdings, Inc. (f/k/a Circana Group, L.P. (f/k/a The NPD Group, L.P.))(3)(4)(8)	First lien senior secured loan	S+	4.25%		12/2029	$	42,404	$	42,058	$	42,404
Monotype Imaging Holdings Inc.(3)(4)(8)(22)	First lien senior secured loan	S+	5.25%		2/2031	151,694		150,274		151,694
								192,332		194,098		2.6	%
Aerospace and defense
Applied Composites Holdings, LLC (fka AC&A Enterprises Holdings, LLC)(3)(4)(9)	First lien senior secured loan	S+	0.84%	5.66%	7/2027	42,510		33,546		21,467
Horizon Avionics Buyer, LLC (dba Acron Aviation)(3)(4)(9)	First lien senior secured loan	S+	4.75%		3/2032	15,385		15,309		15,308
Horizon Avionics Buyer, LLC (dba Acron Aviation)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	4.39%		3/2032	628		613		612
Peraton Corp.(3)(9)	Second lien senior secured loan	S+	7.75%		2/2029	60,393		57,591		47,294
STS PARENT, LLC (dba STS Aviation Group)(3)(4)(9)	First lien senior secured loan	S+	5.00%		10/2031	114,425		113,463		113,281
STS PARENT, LLC (dba STS Aviation Group)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.00%		10/2030	9,127		9,043		8,999
								229,565		206,961		2.8	%
Asset based lending and fund finance
Hg Genesis 8 Sumoco Limited(3)(4)(19)(31)	Unsecured facility	SA+		7.50%	9/2027	£	12,369	15,375		16,637
Hg Genesis 9 SumoCo Limited(3)(4)(14)(31)	Unsecured facility	E+		6.25%	3/2029	€	53,248	56,596		62,537
Hg Saturn Luchaco Limited(3)(4)(19)(31)	Unsecured facility	SA+		8.25%	3/2027	£	54,489	69,134		73,291
								141,105		152,465		2.1	%
Automotive services
MAJCO LLC (dba Big Brand Tire & Service)(3)(4)(9)(22)	First lien senior secured loan	S+	4.50%		9/2032	75,528		75,038		75,339
Spotless Brands, LLC(3)(4)(10)	First lien senior secured loan	S+	5.75%		7/2028	94,049		92,805		94,049
Spotless Brands, LLC(3)(4)(9)(22)	First lien senior secured delayed draw term loan	S+	5.00%		7/2028	4,261		4,146		4,135
Spotless Brands, LLC(3)(4)(8)(22)	First lien senior secured revolving loan	S+	5.75%		7/2028	522		508		522
								172,497		174,045		2.4	%
Buildings and real estate
Associations Finance, Inc.(3)(4)(6)	Unsecured notes	N/A		14.25%	5/2030	202,868		201,437		202,868
Associations, Inc.(3)(4)(9)(22)	First lien senior secured loan	S+	6.50%		7/2028	446,001		444,229		446,001
Wrench Group LLC(3)(4)(9)	First lien senior secured loan	S+	4.75%		9/2032	100,670		100,087		100,166

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2025

(Amounts in thousands, except share amounts)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par / Units		Amortized Cost(2)(27)	Fair Value	% of Net Assets
Wrench Group LLC(3)(4)(12)	First lien senior secured revolving loan	P+	3.75%		9/2031	2,562		2,485	2,494
								748,238	751,529	10.2	%
Business services
Aurelia Netherlands B.V.(3)(4)(14)(31)	First lien senior secured EUR term loan	E+	4.75%		5/2031	€	64,136	72,487	75,325
CMG HoldCo, LLC (dba Crete United)(3)(4)(10)(22)	First lien senior secured loan	S+	4.50%		11/2030	1,289		1,266	1,285
CoolSys, Inc.(3)(9)	First lien senior secured loan	S+	4.75%		8/2028	11,801		11,628	10,430
DuraServ LLC(3)(4)(8)	First lien senior secured loan	S+	4.75%		6/2031	131,406		130,332	130,092
DuraServ LLC(3)(4)(8)(22)	First lien senior secured revolving loan	S+	4.75%		6/2030	2,397		2,329	2,217
Gainsight, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.75%		7/2027	32,919		32,725	32,919
Hercules Borrower, LLC (dba The Vincit Group)(3)(4)(9)	First lien senior secured loan	S+	4.75%		12/2028	127,350		126,990	127,350
Hercules Buyer, LLC (dba The Vincit Group)(3)(4)(6)(33)	Unsecured notes	N/A		0.48%	12/2029	6,316		6,483	9,117
KPSKY Acquisition, Inc. (dba BluSky)(3)(4)(9)	First lien senior secured loan	S+	5.50%		10/2028	43,125		40,077	39,137
KPSKY Acquisition, Inc. (dba BluSky)(3)(4)(9)	First lien senior secured delayed draw term loan	S+	5.75%		10/2028	31		29	28






								424,346	427,900	5.8	%
Chemicals
Advancion Holdings, LLC (fka Aruba Investments Holdings, LLC)(3)(4)(8)	Second lien senior secured loan	S+	7.75%		11/2028	16,500		16,200	14,726
DCG ACQUISITION CORP. (dba DuBois Chemical)(3)(4)(9)(22)	First lien senior secured loan	S+	5.00%		6/2031	81,400		80,503	80,569
Gaylord Chemical Company, L.L.C.(3)(4)(9)	First lien senior secured loan	S+	5.75%		12/2027	184,108		183,107	183,647
Gaylord Chemical Company, L.L.C.(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.50%		12/2027	10,648		10,635	10,605
Rocket BidCo, Inc. (dba Recochem)(3)(4)(9)(31)	First lien senior secured loan	S+	4.75%		11/2030	260,359		255,616	260,359

								546,061	549,906	7.4	%
Consumer products
Conair Holdings LLC(3)(8)	First lien senior secured loan	S+	3.75%		5/2028	12,409		11,383	6,360
Conair Holdings LLC(3)(4)(8)	Second lien senior secured loan	S+	7.50%		5/2029	161,616		158,772	72,727
Feradyne Outdoors, LLC(3)(4)(9)(28)	First lien senior secured loan	S+		6.75%	5/2028	80,768		78,196	54,518
Foundation Consumer Brands, LLC(3)(4)(9)	First lien senior secured loan	S+	5.00%		2/2029	53,171		52,705	52,906
Lignetics Investment Corp.(3)(4)(9)	First lien senior secured loan	S+	5.75%		11/2027	102,561		101,441	102,304
SWK BUYER, Inc. (dba Stonewall Kitchen)(3)(4)(9)	First lien senior secured loan	S+	5.25%		3/2029	1,456		1,419	1,412

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2025

(Amounts in thousands, except share amounts)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par / Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
WU Holdco, Inc. (dba PurposeBuilt Brands)(3)(4)(9)	First lien senior secured loan	S+	4.75%		4/2032	94,201	93,969	94,201



							497,885	384,428	5.2	%
Containers and packaging
Arctic Holdco, LLC (dba Novvia Group)(3)(4)(9)(22)	First lien senior secured loan	S+	5.25%		1/2032	101,369	100,967	101,369
Arctic Holdco, LLC (dba Novvia Group)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.25%		1/2031	1,304	1,273	1,304
Ascend Buyer, LLC (dba PPC Flexible Packaging)(3)(4)(9)(22)	First lien senior secured loan	S+	5.25%		9/2028	72,236	71,220	72,236
Fortis Solutions Group, LLC(3)(4)(9)	First lien senior secured loan	S+	5.50%		10/2028	35,100	34,244	34,398
Fortis Solutions Group, LLC(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.30%		10/2027	1,053	1,006	981
Indigo Buyer, Inc. (dba Inovar Packaging Group)(3)(4)(9)(22)	First lien senior secured loan	S+	5.25%		5/2028	11,081	10,962	11,081
Pregis Topco LLC(3)(4)(8)	Second lien senior secured loan	S+	7.75%		8/2029	28,167	27,863	28,167
Pregis Topco LLC(3)(4)(8)	Second lien senior secured loan	S+	6.75%		8/2029	164,333	162,669	164,333
							410,204	413,869	5.6	%
Distribution
ABB/Con-cise Optical Group LLC(3)(4)(9)	First lien senior secured loan	S+	7.50%		2/2028	64,629	64,190	64,144
Endries Acquisition, Inc.(3)(4)(8)	First lien senior secured loan	S+	5.50%		12/2028	128,693	127,726	126,763
Offen, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.00%		7/2030	16,308	16,157	16,145

							208,073	207,052	2.8	%
Education
Severin Acquisition, LLC (dba PowerSchool)(3)(4)(8)	First lien senior secured loan	S+	2.50%	2.25%	10/2031	1,524	1,498	1,505
Severin Acquisition, LLC (dba PowerSchool)(3)(4)(8)(22)	First lien senior secured delayed draw term loan	S+	4.75%		10/2031	66	65	64
							1,563	1,569	—	%
Energy equipment and services
Dresser Utility Solutions, LLC(3)(4)(8)	First lien senior secured loan	S+	5.25%		3/2029	79,931	79,184	79,931
							79,184	79,931	1.1	%
Financial services
Baker Tilly Advisory Group, LP(3)(4)(8)	First lien senior secured loan	S+	4.75%		6/2031	87,280	86,045	87,280
CCM Midco, LLC (f/k/a Cresset Capital Management, LLC)(3)(4)(8)(22)	First lien senior secured loan	S+	4.75%		6/2030	39,660	39,104	39,660
Continental Finance Company, LLC(3)(4)(8)	First lien senior secured loan	S+	8.00%		3/2029	7,500	7,438	7,444
Deerfield Dakota Holdings(3)(4)(9)	First lien senior secured loan	S+	3.00%	2.75%	9/2032	116,859	116,300	116,275
Finastra USA, Inc.(3)(4)(9)(31)	First lien senior secured loan	S+	7.25%		9/2029	27,688	27,466	27,896
Klarna Holding AB(3)(4)(9)(31)	Subordinated Floating Rate Notes	S+	7.00%		4/2034	1,000	1,000	1,000

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2025

(Amounts in thousands, except share amounts)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par / Units		Amortized Cost(2)(27)	Fair Value	% of Net Assets
KRIV Acquisition Inc. (dba Riveron)(3)(4)(9)(22)	First lien senior secured loan	S+	5.00%		7/2031	8,156		7,963	8,156
Minotaur Acquisition, Inc. (dba Inspira Financial)(3)(4)(8)	First lien senior secured loan	S+	5.00%		6/2030	255,802		252,824	255,802
NMI Acquisitionco, Inc. (dba Network Merchants)(3)(4)(8)	First lien senior secured loan	S+	4.50%		9/2028	47,673		47,507	47,673
Smarsh Inc.(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		2/2029	2,066		2,046	2,055
Wipfli Advisory LLC(3)(4)(9)	First lien senior secured loan	S+	4.50%		10/2032	26,231		26,168	26,155
								613,861	619,396	8.4	%
Food and beverage
Balrog Acquisition, Inc. (dba Bakemark)(3)(4)(8)	Second lien senior secured loan	S+	7.00%		9/2029	28,000		27,799	22,540
Blast Bidco Inc. (dba Bazooka Candy Brands)(3)(4)(9)	First lien senior secured loan	S+	6.00%		10/2030	37,394		36,702	37,394
BP Veraison Buyer, LLC (dba Sun World)(3)(4)(9)	First lien senior secured loan	S+	5.25%		5/2029	137,357		136,112	137,357
Eagle Family Foods Group LLC(3)(4)(10)	First lien senior secured loan	S+	5.00%		8/2030	2,427		2,395	2,427
Fiesta Purchaser, Inc. (dba Shearer's Foods)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	2.75%		2/2029	956		956	945
Gehl Foods, LLC(3)(4)(9)	First lien senior secured loan	S+		6.25%	6/2030	105,116		103,921	105,116
Hissho Parent, LLC(3)(4)(9)	First lien senior secured loan	S+	4.75%		5/2029	17,134		17,000	17,134
Innovation Ventures HoldCo, LLC (dba 5 Hour Energy)(3)(4)(8)	First lien senior secured loan	S+	6.25%		3/2027	30,922		30,386	30,846
KBP Brands, LLC(3)(4)(9)	First lien senior secured loan	S+	5.50%		5/2027	1,079		1,054	1,057
Ole Smoky Distillery, LLC(3)(4)(8)	First lien senior secured loan	S+	5.50%		3/2028	851		843	806
Rushmore Investment III LLC (dba Winland Foods)(3)(4)(9)	First lien senior secured loan	S+	5.00%		10/2030	357,284		353,680	357,284
Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC)(3)(4)(9)(22)	First lien senior secured loan	S+	5.00%		7/2027	51,943		51,924	51,662
Vital Bidco AB (dba Vitamin Well)(3)(4)(8)(31)	First lien senior secured loan	S+	4.25%		10/2031	61,574		60,573	61,574

								823,345	826,142	11.2	%
Healthcare equipment and services
Arctic US Bidco, Inc. (dba ThermoSafe)(3)(4)(9)	First lien senior secured loan	S+	4.75%		11/2032	34,722		34,552	34,549
Bamboo US BidCo LLC(3)(4)(9)	First lien senior secured loan	S+	5.00%		9/2030	9,663		9,604	9,663
Bamboo US BidCo LLC(3)(4)(14)	First lien senior secured EUR term loan	E+	5.00%		9/2030	€	4,662	4,835	5,475
Bamboo US BidCo LLC(3)(4)(8)(22)	First lien senior secured delayed draw term loan	S+	5.06%		9/2030	856		849	856
Cambrex Corporation(3)(4)(8)(22)	First lien senior secured loan	S+	4.50%		3/2032	785		777	785
Creek Parent, Inc. (dba Catalent)(3)(4)(8)	First lien senior secured loan	S+	5.00%		12/2031	113,368		111,116	112,801

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2025

(Amounts in thousands, except share amounts)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par / Units		Amortized Cost(2)(27)	Fair Value	% of Net Assets
CSC MKG Topco LLC (dba Medical Knowledge Group)(3)(4)(8)	First lien senior secured loan	S+	5.50%		2/2029	4,955		4,855	4,955
Nelipak Holding Company(3)(4)(8)(22)	First lien senior secured revolving loan	S+	5.50%		3/2031	1,132		1,025	1,019
Nelipak Holding Company(3)(4)(9)(22)	First lien senior secured loan	S+	5.50%		3/2031	32,058		31,492	31,548
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.(3)(4)(14)	First lien senior secured EUR term loan	E+	5.50%		3/2031	€	47,237	49,629	54,645
NELIPAK EUROPEAN HOLDINGS COÖPERATIEF U.A.(3)(4)(13)(22)	First lien senior secured EUR revolving loan	E+	5.50%		3/2031	€	301	256	296
Packaging Coordinators Midco, Inc.(3)(4)(9)	First lien senior secured loan	S+	4.75%		10/2032	157,976		156,175	157,186
Packaging Coordinators Midco, Inc.(3)(4)(19)	First lien senior secured delayed draw term loan	SA+	4.75%		10/2032	£	14,443	18,974	19,329
Packaging Coordinators Midco, Inc.(3)(4)(9)(22)	First lien senior secured delayed draw term loan	S+	4.50%		1/2032	782		775	778
Patriot Acquisition TopCo S.À R.L. (dba Corza Health, Inc.)(3)(4)(9)(22)(31)	First lien senior secured loan	S+	4.75%		1/2028	157,996		156,822	157,996
PerkinElmer U.S. LLC(3)(4)(8)	First lien senior secured loan	S+	4.75%		3/2029	25,721		25,676	25,721
Rhea Parent, Inc.(3)(4)(9)	First lien senior secured loan	S+	5.00%		12/2030	40,670		40,278	40,264
TBRS, Inc. (dba TEAM Technologies)(3)(4)(9)	First lien senior secured loan	S+	4.75%		11/2031	41,570		41,225	41,362
								688,915	699,228	9.5	%
Healthcare providers and services
Allied Benefit Systems Intermediate LLC(3)(4)(9)	First lien senior secured loan	S+	5.00%		10/2030	6,880		6,880	6,846
Belmont Buyer, Inc. (dba Valenz)(3)(4)(9)	First lien senior secured loan	S+	6.50%		6/2029	4,454		4,383	4,454
Belmont Buyer, Inc. (dba Valenz)(3)(4)(9)	First lien senior secured loan	S+	5.25%		6/2029	3,128		3,066	3,121
Bristol Hospice L.L.C.(3)(4)(9)	First lien senior secured loan	S+	5.00%		8/2032	41,993		41,791	41,993
Commander Buyer, Inc. (dba CenExel)(3)(4)(9)	First lien senior secured loan	S+	4.75%		6/2032	56,102		55,813	56,102
Confluent Health, LLC(3)(4)(8)	First lien senior secured loan	S+	5.00%		11/2028	4,913		4,790	4,434
Covetrus, Inc.(3)(4)(9)	Second lien senior secured loan	S+	9.25%		10/2030	30,000		28,902	29,025
Engage Debtco Limited(3)(4)(9)(31)	First lien senior secured loan	S+	3.18%	2.75%	7/2029	1,605		1,566	1,521
Engage Debtco Limited(3)(4)(9)(31)	First lien senior secured delayed draw term loan	S+	3.08%	2.75%	7/2029	521		509	494
EresearchTechnology, Inc. (dba Clario)(3)(4)(8)(22)	First lien senior secured loan	S+	4.75%		1/2032	102,565		101,589	102,565
Ex Vivo Parent Inc. (dba OB Hospitalist)(3)(4)(8)	First lien senior secured loan	S+		9.50%	9/2028	132,032		130,839	132,032
KABAFUSION Parent, LLC(3)(4)(9)	First lien senior secured loan	S+	4.75%		11/2031	48,613		48,020	48,613

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2025

(Amounts in thousands, except share amounts)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par / Units	Amortized Cost(2)(27)	Fair Value	% of Net Assets
KWOL Acquisition, Inc. (dba Worldwide Clinical Trials)(3)(4)(8)(22)	First lien senior secured loan	S+	5.00%		12/2029	121,761	120,368	121,457
Lakefield Acquisition Corp. (dba Lakefield Veterinary Group)(3)(4)(10)(22)	First lien senior secured loan	S+	4.00%		9/2030	643	639	643
Maple Acquisition, LLC (dba Medicus)(3)(4)(10)	First lien senior secured loan	S+	4.75%		5/2031	72,776	72,123	72,776
National Dentex Labs LLC (fka Barracuda Dental LLC)(3)(4)(9)(28)	First lien senior secured loan	S+		10.00%	4/2026	145,775	129,794	57,581
National Dentex Labs LLC (fka Barracuda Dental LLC)(3)(4)(9)(28)	First lien senior secured delayed draw term loan	S+		12.00%	4/2026	22,178	14,248	8,760
National Dentex Labs LLC (fka Barracuda Dental LLC)(3)(4)(9)(28)	First lien senior secured delayed draw term loan	S+		10.00%	1/2026	7,470	7,376	7,470
National Dentex Labs LLC (fka Barracuda Dental LLC)(3)(4)(9)(22)(28)	First lien senior secured revolving loan	S+	9.00%		4/2026	10,817	10,147	4,207
National Dentex Labs LLC (fka Barracuda Dental LLC)(3)(4)(9)(28)	First lien senior secured revolving loan	S+		9.00%	4/2026	806	—	318
Natural Partners, LLC(3)(4)(9)(31)	First lien senior secured loan	S+	4.50%		11/2030	7,659	7,554	7,659
OB Hospitalist Group, Inc.(3)(4)(8)	First lien senior secured loan	S+	5.25%		9/2027	164,531	162,834	164,531
Pacific BidCo Inc.(3)(4)(10)(31)	First lien senior secured loan	S+	5.75%		8/2029	48,719	47,785	48,597
PetVet Care Centers, LLC(3)(4)(8)	First lien senior secured loan	S+	6.00%		11/2030	131,005	128,858	117,905
PetVet Care Centers, LLC(3)(4)(8)(22)	First lien senior secured revolving loan	S+	6.00%		11/2029	1,830	1,630	—
Physician Partners, LLC(3)(4)(9)	First lien senior secured loan	S+	6.00%		12/2029	11,372	10,821	10,207
Physician Partners, LLC(3)(9)	First lien senior secured loan	S+	1.50%	2.50%	12/2029	6,514	4,301	3,070
Plasma Buyer LLC (dba PathGroup)(3)(4)(9)(28)	First lien senior secured loan	S+	5.75%		5/2029	1,391	1,332	1,078
Plasma Buyer LLC (dba PathGroup)(3)(4)(9)(28)	First lien senior secured delayed draw term loan	S+	6.25%		5/2029	53	49	41
Plasma Buyer LLC (dba PathGroup)(3)(4)(9)(28)	First lien senior secured revolving loan	S+	5.75%		5/2028	159	149	123
PPV Intermediate Holdings, LLC(3)(4)(9)(22)	First lien senior secured loan	S+	5.75%		8/2029	28,745	28,287	28,363
PPV Intermediate Holdings, LLC(3)(4)(9)	First lien senior secured delayed draw term loan	S+	6.00%		8/2029	1,759	1,733	1,746
Premier Imaging, LLC (dba LucidHealth)(3)(4)(9)	First lien senior secured loan	S+	3.74%	2.26%	3/2026	49,644	49,630	44,680
Premise Health Holding Corp.(3)(4)(9)	First lien senior secured loan	S+	4.50%		11/2032	78,305	77,991	77,522
Quva Pharma, Inc.(3)(4)(9)(22)	First lien senior secured revolving loan	S+	5.50%		4/2026	3,835	3,821	3,679
Quva Pharma, Inc.(3)(4)(9)	First lien senior secured loan	S+	2.75%	3.00%	4/2028	67,315	66,357	65,295
Quva Pharma, Inc.(3)(4)(9)	First lien senior secured loan	S+	2.75%	3.00%	4/2026	5,130	5,054	4,976

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2025

(Amounts in thousands, except share amounts)


		Interest
Company(1)(25)	Investment	Ref. Rate	Cash	PIK	Maturity Date	Par / Units		Amortized Cost(2)(27)	Fair Value	% of Net Assets
SimonMed, Inc.(3)(4)(9)(22)	First lien senior secured loan	S+	4.75%		2/2032	854		851	848
SimonMed, Inc.(3)(4)(9)(22)	First lien senior secured revolving loan	S+	4.55%		2/2031	44		43	43
Soleo Holdings, Inc.(3)(4)(9)	First lien senior secured loan	S+	4.50%		2/2032	58,948		58,683	58,948
Tivity Health, Inc.(3)(4)(8)	First lien senior secured loan	S+	5.00%		6/2029	977		969	977
Unified Women's Healthcare, LP(3)(4)(9)	First lien senior secured loan	S+	5.00%		6/2029	43,947		43,532	43,947
Unified Women's Healthcare, LP(3)(4)(8)	First lien senior secured delayed draw term loan	S+	5.00%		6/2029	17,140		16,989	17,140
Valeris, Inc. (fka Phantom Purchaser, Inc.)(3)(4)(9)	First lien senior secured loan	S+	5.00%		9/2031	42,131		41,565	42,131
Vermont Aus Pty Ltd(3)(4)(17)(31)	First lien senior secured AUD term loan	B+	4.50%		3/2028	A$	2,569	1,696	1,713
								1,545,357	1,449,631	19.6	%
Healthcare technology
BCPE Osprey Buyer, Inc. (dba PartsSource)(3)(4)(9)	First lien senior secured loan	S+	5.75%		8/2028	161,628		159,558	160,011
BCPE Osprey Buyer, Inc. (dba PartsSource)(3)(4)(8)	First lien senior secured delayed draw term loan	S+	5.75%		8/2028	35,342		34,886	34,989
BCPE Osprey Buyer, Inc. (dba PartsSource)(3)(4)(8)(22)	First lien senior secured revolving loan	S+	5.75%		8/2026	14,584		14,501	14,409
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(3)(4)(8)(22)	First lien senior secured loan	S+	5.00%		8/2031	88,979		87,891	88,979
CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)(3)(4)(8)	First lien senior secured loan	S+	4.75%		8/2031	12,910		12,848	12,845
GI Ranger Intermediate, LLC (dba Rectangle Health)(3)(4)(9)	First lien senior secured loan	S+	6.00%		10/2028	24,632		24,015	23,893
GI Ranger Intermediate, LLC (dba Rectangle Health)(3)(4)(9)(22)	First lien senior secured revolving loan	S+	6.00%		10/2027	272		251	211
Indikami Bidco, LLC (dba IntegriChain)(3)(4)(8)	First lien senior secured loan	S+	4.00%	2.50%	12/2030	21,840		21,452	21,403
Indikami Bidco, LLC (dba IntegriChain)(3)(4)(8)	First lien senior secured delayed draw term loan	S+	6.00%		12/2030	334		334	327
Indikami Bidco, LLC (dba IntegriChain)(3)(4)(8)(22)	First lien senior secured revolving loan	S+	6.00%		6/2030	1,586		1,557	1,545
Inovalon Holdings, Inc.(3)(4)(9)	First lien senior secured loan	S+	2.75%	2.75%	11/2028	153,346		153,160	150,279
Inovalon Holdings, Inc.(3)(4)(9)	Second lien senior secured loan	S+		8.50%	11/2033	63,316		63,316	58,250
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(3)(4)(9)(31)	First lien senior secured loan	S+	6.50%		8/2026	168,668		167,605	168,668
Interoperability Bidco, Inc. (dba Lyniate)(3)(4)(9)(22)	First lien senior secured loan	S+	5.75%		3/2028	72,897		72,646	72,511
Klick Inc.(3)(4)(8)(31)	First lien senior secured loan	S+	5.00%		11/2032	71,806		71,453	71,447

Blue Owl Capital Corporation

Consolidated Schedule of Investments

As of December 31, 2025

(Amounts in thousands, except share amounts)

Interest

Company(1)(25)

Investment

Ref. Rate

Cash

PIK

Maturity Date

Par / Units

Amortized Cost(2)(27)

Fair Value

% of Net Assets

Modernizing Medicine, Inc. (dba ModMed)(3)(4)(9)

First lien senior secured loan

S+

2.50%

2.25%

4/2032

772

765

768

RL Datix Holdings (USA), Inc.(3)(4)(10)

First lien senior secured loan

S+

5.00%

4/2031

56,403

56,404

56,403

RL Datix Holdings (USA), Inc.(3)(4)(19)

First lien senior secured GBP term loan

SA+

5.00%

4/2031