SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 8.0% Stake in Blue Owl Capital Inc.

FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, reporting a combined beneficial ownership of 8.0% of Blue Owl Capital Inc.'s Class A Common Stock as of December 31, 2024.

Summary

• FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 45,241,159.81 shares of Blue Owl Capital Inc.'s Class A Common Stock.
• This ownership represents 8.0% of the total outstanding Class A Common Stock of Blue Owl Capital Inc.
• The filing date for this Schedule 13G Amendment No. 1 is February 11, 2025, with the event date requiring the filing being December 31, 2024.
• FMR LLC holds sole voting power over 44,534,528.07 shares and sole dispositive power over 45,241,159.81 shares.
• Abigail P. Johnson holds sole dispositive power over 45,241,159.81 shares, with no sole or shared voting power directly.
• The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
• Several FMR LLC subsidiaries and affiliates, including Fidelity Management & Research Company LLC, are identified as entities beneficially owning shares, with Fidelity Management & Research Company LLC beneficially owning 5% or greater of the outstanding shares.

Sentiment

Score: 7

Explanation: The filing indicates a significant, passive institutional investment by FMR LLC in Blue Owl Capital Inc., which is generally a positive signal of investor confidence. However, it's a routine disclosure and doesn't contain performance or strategic updates that would significantly alter the company's outlook.

Positives

• A significant institutional investor, FMR LLC (parent of Fidelity Investments), holds an 8.0% stake in Blue Owl Capital Inc., which can be interpreted as a vote of confidence in the company's long-term prospects.
• The filing explicitly states that the ownership is for ordinary course of business and not for the purpose of changing or influencing control, suggesting a passive and stable investment.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding Blue Owl Capital Inc.'s future performance or FMR LLC's investment strategy beyond the stated purpose of holding shares in the ordinary course of business.

Management Comments

• "The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing indicates a significant passive investment by a major asset manager (FMR LLC, parent of Fidelity Investments) in Blue Owl Capital Inc., an alternative asset manager. Such institutional holdings are common in the financial services industry and can signal investor confidence in the company's long-term prospects, particularly for firms operating in the alternative asset management space which often attract large institutional capital.

Comparison to Industry Standards

• As a Schedule 13G filing, this document primarily reports beneficial ownership and does not provide financial results or operational metrics for direct comparison to industry standards.
• The 8.0% stake held by FMR LLC is a substantial position for an institutional investor in a publicly traded company like Blue Owl Capital Inc., which operates in the alternative asset management sector alongside peers such as Blackstone, KKR, and Apollo Global Management.
• Large institutional ownership is typical for well-established companies in the alternative asset management industry, reflecting the sector's appeal to long-term capital.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by FMR LLC may be viewed positively, potentially increasing investor confidence and liquidity in Blue Owl Capital Inc.'s stock.
• Management: The filing indicates a passive investment, suggesting no immediate intent by FMR LLC to influence management or control, which could be seen as a stable factor for the company's current leadership.

Next Steps

• The document does not specify any future actions, events, or milestones for Blue Owl Capital Inc. or FMR LLC beyond the routine filing requirements.

Key Dates

Keywords

Blue Owl Capital Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Class A Common Stock, Institutional Investment, Fidelity