8 unchanged sentences
Asset Managers Index.
−Removed: The graph assumes an initial investment of $100 in our Class A Shares at market close on December 14, 2020, which was the initial trading day for Altimar (with which we merged in connection with the Business Combination), and that dividends were reinvested.
+Added: The graph assumes an initial investment of $100 in our Class A Shares at market close on December 31, 2020, which was a trading day for Altimar (with which we merged in connection with the Business Combination), and that dividends were reinvested.
+Added: For more information on our dividends and distributions, please see “Item 7.
+Added: Management’s Discussion and Analysis of Financial Condition and Results of Operations — Dividends and Distributions.”
The performance graph is not intended to be indicative of future performance.
The performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act or the Exchange Act.
−Removed: Prior to the Business Combination Date, stock prices used for Blue Owl represent the trading activity for Altimar from the date of Altimar’s initial public offering on December 14, 2020.
+Added: Prior to the Business Combination Date, stock prices used for Blue Owl represent the trading activity for Altimar from December 31, 2020.
2020 December 31,
9 unchanged sentences
Share Repurchases in the Fourth Quarter of 2025
−Removed: On May 4, 2022, Blue Owl’s Board authorized the repurchase of up to $150.0 million of Class A Shares (the “Program”).
−Removed: Under the Program, repurchases could be made from time to time in open market transactions, in privately negotiated transactions or otherwise.
−Removed: The Program expired upon its terms on December 31, 2024.
−Removed: No shares were repurchased during the quarter ended December 31, 2024.
−Removed: On February 20, 2025, Blue Owl’s Board authorized the repurchase of up to $150.0 million of Class A Shares (the “2025 Program”).
−Removed: Under the 2025 Program, repurchases could be made from time to time in open market transactions, in privately negotiated transactions or otherwise.
−Removed: The timing and the actual numbers repurchased will depend on a variety of factors, including legal requirements, price and economic and market conditions.
−Removed: The 2025 Program may be changed, suspended or discontinued at any time and will terminate upon the earlier of (i) the purchase of all shares available under the 2025 Program or (ii) February 28, 2027.
+Added: The table below presents purchases made by or on behalf of Blue Owl Capital Inc.
+Added: or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Exchange Act) of Class A Shares during each of the indicated periods:
+Added: (dollars in thousands, except per share data)
+Added: Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs(1)
+Added: Oct 1, 2025 - Oct 31, 2025 — — — $ 148,309
+Added: Nov 1, 2025 - Nov 30, 2025 3,452,236 $ 14.46 3,452,236 $ 98,309
+Added: Dec 1, 2025 - Dec 31, 2025 132,700 $ 15.07 132,700 $ 96,306
+Added: Total 3,584,936 3,584,936
+Added: (1) In February 2025, Blue Owl’s Board authorized the 2025 Program (as defined in Note 1 to our Financial Statements).
+Added: Under the 2025 Program, up to $150.0 million of Class A Share repurchases could be made from time to time in open market transactions, in privately negotiated transactions or otherwise.
+Added: The timing and the actual number of shares repurchased will depend on a variety of factors, including legal requirements, price and economic and market conditions.
+Added: The 2025 Program may be changed, suspended or discontinued at any time and will terminate upon the earlier of (i) the purchase of all shares available under the 2025 Program and (ii) February 28, 2027.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.