Blue Owl Capital Corp II
Inside Blue Owl Capital Corp II’s $960M private-credit portfolio — 267 portfolio holdings disclosed in SEC filings.
Filing Information
Portfolio Composition
Portfolio-wide breakdown by fair value across this BDC’s full Schedule of Investments. Source: SEC EDGAR (public).
Top Portfolio Holdings
| Company | Sector | Investment | Coupon | Maturity | Cost | Fair Value |
|---|---|---|---|---|---|---|
| Metis HoldCo, Inc. (dba Mavis Tire Express Services) | Preferred Equity | (PIK 7.00%) | $44,903,000 | $47,922,000 | ||
| Windows Entities | Common Equity | $20,107,000 | $46,211,000 | |||
| HGH Purchaser, Inc. (dba Horizon Services) | First Lien Senior Secured Loan Senior Secured | SOFR + 3.25% (PIK 3.75%) | $35,766,000 | $32,937,000 | ||
| New PLI Holdings, LLC (dba PLI) | — | $25,448,000 | ||||
| Milan Laser Holdings LLC | First Lien Senior Secured Loan Senior Secured | SOFR + 5.00% | $21,898,000 | $21,616,000 | ||
| Advancion Holdings, LLC (fka Aruba Investments Holdings, LLC) | Second Lien Senior Secured Loan Subordinated | SOFR + 7.75% | $22,359,000 | $20,194,000 | ||
| BP Veraison Buyer, LLC (dba Sun World) | First Lien Senior Secured Loan Senior Secured | SOFR + 5.25% | $18,870,000 | $18,969,000 | ||
| Sonny's Enterprises, LLC | First Lien Senior Secured Loan Senior Secured | SOFR + 5.50% | $18,682,000 | $18,774,000 | ||
| Conair Holdings LLC | Second Lien Senior Secured Loan Subordinated | SOFR + 7.50% | $31,031,000 | $18,768,000 | ||
| Inovalon Holdings, Inc. | First Lien Senior Secured Loan Senior Secured | SOFR + 2.75% (PIK 2.75%) | $18,312,000 | $17,645,000 | ||
| Loparex Midco B.V. | Second Lien Senior Secured Loan Subordinated | SOFR + 8.75% | $27,536,000 | $17,080,000 | ||
| Associations, Inc. | First Lien Senior Secured Loan Senior Secured | SOFR + 6.50% | $16,960,000 | $16,973,000 | ||
| Quva Pharma, Inc. | First Lien Senior Secured Loan Senior Secured | SOFR + 2.75% (PIK 3.00%) | $15,290,000 | $14,996,000 | ||
| PetVet Care Centers, LLC | First Lien Senior Secured Loan Senior Secured | SOFR + 6.00% | $14,829,000 | $13,445,000 | ||
| Associations Finance, Inc. | Secured Note Senior Secured | (PIK 14.25%) | $12,118,000 | $12,159,000 | ||
| Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC) | Equity | $11,749,000 | $11,684,000 | |||
| Cornerstone OnDemand, Inc. | Second Lien Senior Secured Loan Subordinated | SOFR + 6.50% | $16,533,000 | $11,333,000 | ||
| Garden State Custom Windows, LLC | — | $11,100,000 | ||||
| Minotaur Acquisition, Inc. (dba Inspira Financial) | First Lien Senior Secured Loan Senior Secured | SOFR + 5.00% | $10,915,000 | $10,983,000 | ||
| Deerfield Dakota Holdings | First Lien Senior Secured Loan Senior Secured | SOFR + 3.00% (PIK 2.75%) | $10,984,000 | $10,980,000 | ||
| Gaylord Chemical Company, L.L.C. | First Lien Senior Secured Loan Senior Secured | SOFR + 5.75% | $10,902,000 | $10,883,000 | ||
| New PLI Holdings, LLC (dba PLI) | Common Equity | $5,952,000 | $10,790,000 | |||
| Aerosmith Bidco 1 Limited (dba Audiotonix) | First Lien Senior Secured Loan Senior Secured | SOFR + 5.25% | $10,664,000 | $10,777,000 | ||
| LSI Financing LLC | Equity | $9,549,000 | $10,401,000 | |||
| LSI Financing LLC | — | $10,401,000 |
Loan-Pricing Trend
Fair-value-weighted average credit spread and average mark across this BDC’s Schedule-of-Investments debt holdings, by filing quarter. Spread and mark are shown in the units reported in the filing. Source: SEC EDGAR (public).
| Quarter | Priced Loans | Wtd-Avg Spread | Avg Mark | Debt Fair Value |
|---|---|---|---|---|
| 2022-06-30 | 0 | — | — | — |
| 2022-09-30 | 0 | — | — | — |
| 2022-12-31 | 0 | — | — | — |
| 2023-03-31 | 0 | — | — | $284K |
| 2023-06-30 | 143 | 6.56 | 97.6 | $2.0B |
| 2023-09-30 | 143 | 6.57 | 98.1 | $2.0B |
| 2023-12-31 | 148 | 6.53 | 98.3 | $1.9B |
| 2024-03-31 | 156 | 6.38 | 98.2 | $1.9B |
| 2024-06-30 | 162 | 6.14 | 97.8 | $1.9B |
| 2024-09-30 | 168 | 6.05 | 98.1 | $1.9B |
| 2024-12-31 | 163 | 5.83 | 97.2 | $1.8B |
| 2025-03-31 | 166 | 5.60 | 98.3 | $1.7B |
| 2025-06-30 | 162 | 5.48 | 98.2 | $1.6B |
| 2025-09-30 | 165 | 5.39 | 97.7 | $1.6B |
| 2025-12-31 | 13 | 6.18 | 104.7 | $229M |
| 2026-03-31 | 182 | 5.40 | 93.8 | $789M |
Marks reflect each BDC’s own fair-value estimates as reported to the SEC, not traded prices. Private-credit loans are predominantly Level 3 under ASC 820 — valued from unobservable inputs and determined in good faith by each BDC’s board, so figures are estimates as of the filing date and are not directly comparable across managers. Informational only; not investment advice or a valuation.
About Blue Owl Capital Corp II
Blue Owl Capital Corp II (OBDE) is a publicly traded Business Development Company (BDC) — essentially a publicly listed fund that lends money to mid-sized private companies. In plain English: BDCs raise money from public investors and lend it to businesses that are too small for Wall Street banks. By law, they must pay out at least 90% of their profits as dividends, which is why BDC yields are often 8–12%. Blue Owl Capital Corp II discloses its full loan portfolio through SEC filings.
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