Owl Rock(US:OBDC)2024-08-07 20:28Financial Position - Total assets as of June 30, 2024, amounted to $13,866,620,000, an increase from $13,511,396,000 as of December 31, 2023[9] - Total liabilities increased to $7,872,336,000 from $7,490,003,000, showing a rise in financial obligations[9] - Net assets decreased to $5,994,284,000 from $6,021,393,000, indicating a slight decline in overall net worth[9] - Cash and cash equivalents decreased to $377,914,000 from $658,702,000, indicating a reduction in liquidity[9] - Net asset value per share as of June 30, 2024, was $15.36, down from $15.45 at the end of 2023[9] Investment Performance - Total investments at fair value reached $13,341,982,000, up from $12,713,348,000, reflecting a growth in investment portfolio[9] - Total investment income for Q2 2024 was $396,760, a slight increase from $394,223 in Q2 2023, representing a 0.4% growth[11] - Net investment income after taxes for the six months ended June 30, 2024, was $371,899, compared to $364,536 for the same period in 2023, reflecting a 2.3% increase[11] - The company reported a net increase in net assets resulting from operations of $122,220 for Q2 2024, down from $195,562 in Q2 2023, indicating a decrease of 37.4%[11] - Earnings per share for Q2 2024 were $0.31, compared to $0.50 in Q2 2023, representing a decline of 38%[11] Operating Expenses - Total operating expenses for Q2 2024 were $205,216, slightly up from $205,167 in Q2 2023, showing a marginal increase of 0.02%[11] - Management fee payable increased to $48,005,000 from $47,711,000, indicating higher management costs[9] Economic Outlook - The company anticipates potential impacts from economic downturns and market volatility on future performance[4] Investment Strategy - The company is actively managing its investment portfolio with a focus on senior secured loans, which are generally considered lower risk compared to unsecured loans[32] - Blue Owl Capital Corporation's diversified investment strategy includes a mix of loans across different maturity dates, enhancing its risk management profile[30] - The company is actively pursuing market expansion and strategic acquisitions to enhance its portfolio[60] Sector Investments - Blue Owl Capital's investment portfolio includes a first lien senior secured loan to Spotless Brands, LLC with an amortized cost of $47,171,000 and a fair value of $47,877,000, accounting for 0.8% of net assets[14] - The investment in Rocket BidCo, Inc. (dba Recochem) amounts to $193,567,000, with a fair value of $193,550,000, contributing 3.2% to net assets[18] - The investment in Food and Beverage sector shows an amortized cost of $415,235, with a fair value of $418,016, representing 6.9% of net assets[24] - The total fair value of investments as of June 30, 2024, reflects a diversified portfolio across various sectors, indicating strategic market positioning by Blue Owl Capital Corporation[33][34] Equity Investments - Total non-controlled/nonaffiliated portfolio company equity investments amounted to $648,039,000 with a fair value of $777,751,000, representing 12.9% of net assets[53] - The fair value of equity investments in non-controlled/nonaffiliated portfolio companies reached $821,525, accounting for 13.6% of net assets[89] Unrealized Gains and Losses - The estimated aggregate gross unrealized loss for U.S. federal income tax purposes is $434,600,000, while the estimated aggregate gross unrealized gain is $373,700,000[57] - The company reported a net estimated unrealized loss for U.S. federal income tax purposes of $60,900,000 based on a tax cost basis of $13,400,000,000[57] Recent Investments - The company has made significant investments in new technologies and products, including Alphasense, LLC and Blend Labs, Inc.[60] - The company holds a first lien senior secured loan to Access CIG, LLC with an amortized cost of $58,523,000 and a fair value of $58,760,000, accounting for 1.0% of net assets[65] - Blue Owl's investment in Hercules Borrower, LLC has an amortized cost of $173,628,000 and a fair value of $174,654,000, representing 2.9% of net assets[65] Summary of Financials - Total investments as of June 30, 2024, amount to $13,341,982,000, representing a 221.1% percentage of net assets[56] - The total controlled/affiliated portfolio company investments are valued at $1,604,264,000, which is 26.8% of net assets[56]