X0202 SCHEDULE 13G/A 0001011438-21-000161 0001832801 XXXXXXXX LIVE 3 Class A Common Stock, $0.0001 par value per share 03/31/2026 0001823945 BLUE OWL CAPITAL INC. 09581B103 399 Park Avenue New York NY 10022 Rule 13d-1(c) BB Holdings AC LP b DE 3500000 0 3500000 0 3500000 N 0.5 PN BB Holdings AA LP b DE 20000000 0 20000000 0 20000000 N 3 PN ICQ BB GP, LLC b DE 23500000 0 23500000 0 23500000 N 3.5 OO Co-Investment Portfolio 2021 LP b DE 10000000 0 10000000 0 10000000 N 1.5 PN Co-Investment Portfolio GP II LP b DE 10000000 0 10000000 0 10000000 N 1.5 PN ICQ Co-Investment II TT GP, LLC b DE 10000000 0 10000000 0 10000000 N 1.5 OO ICONIQ Capital, LLC b DE 853844 0 853844 0 853844 N 0.1 IA OO ICONIQ Capital Group, L.P. b DE 853844 0 853844 0 853844 N 0.1 HC PN ICONIQ Capital Group GP, LLC b DE 853844 0 853844 0 853844 N 0.1 OO HC Divesh Makan b X1 34353844 0 34353844 0 34353844 N 5.1 IN BLUE OWL CAPITAL INC. 399 Park Avenue, New York, New York, 10022 (i) BB Holdings AC LP, a Delaware limited partnership ("BB Holdings AC"). (ii) BB Holdings AA LP, a Delaware limited partnership ("BB Holdings AA" and, together with BB Holdings AC, the "ICQ Limited Partnerships"). (iii) ICQ BB GP, LLC, a Delaware limited liability company ("ICQ BB"), is the general partner of the ICQ Limited Partnerships. (iv) Co-Investment Portfolio 2021 LP, a Delaware limited partnership ("Co-Investment Portfolio 2021"). (v) Co-Investment Portfolio GP II LP, a Delaware limited partnership ("Co-Investment Portfolio GP"), is the general partner of Co-Investment Portfolio 2021. (vi) ICQ Co-Investment II TT GP, LLC, a Delaware limited liability company ("ICQ Co-Investment"), is the general partner of Co-Investment Portfolio GP. (vii) ICONIQ Capital, LLC, a Delaware limited liability company ("ICONIQ Capital"), is the investment manager to Income Co-Investment Portfolio 2026 LP ("Co-Investment Portfolio 2026"). (viii) ICONIQ Capital Group, L.P., a Delaware limited partnership ("ICONIQ Group"), is the sole member of ICONIQ Capital. (ix) ICONIQ Capital Group GP, LLC, a Delaware limited liability company ("ICONIQ Group GP " and, together with ICQ BB and ICQ Co-Investment, the "Ultimate General Partners"), is the general partner of ICONIQ Group. (x) Divesh Makan, a citizen of the United States ("Makan" and, together with the ICQ Limited Partnerships, Co-Investment Portfolio 2021, ICONIQ Capital, the Ultimate General Partners, Co-Investment Portfolio GP, ICONIQ Group, the "Reporting Persons"), is the managing member of each of the Ultimate General Partners and may be deemed to have voting, investment, and dispositive power with respect to the shares held by the ICQ Limited Partnerships, Co-Investment Portfolio 2021, and Co-Investment Portfolio 2026. The address of the principal business office of each of the reporting persons is c/o ICONIQ Capital, 50 Beale Street, Suite 2300, San Francisco, CA 94105. (i) BB Holdings AC is a Delaware limited partnership. (ii) BB Holdings AA LP is a Delaware limited partnership. (iii) ICQ BB is a Delaware limited liability company. (iv) Co-Investment Portfolio 2021 is a Delaware limited partnership. (v) Co-Investment Portfolio GP is a Delaware limited partnership. (vi) ICQ Co-Investment is a Delaware limited liability company. (vii) ICONIQ Capital is a Delaware limited liability company. (viii) ICONIQ Group is a Delaware limited partnership. (ix) ICONIQ Group GP is a Delaware limited liability company. (x) Divesh Makan is a citizen of the United States. Y As of March 31, 2026: (i) BB Holdings AC directly owns 3,500,000 shares of Class A Common Stock. (ii) BB Holdings AA directly owns 20,000,000 shares of Class A Common Stock. (iii) ICQ BB may be deemed to beneficially own 23,500,000 shares of Class A Common Stock, held by the ICQ Limited Partnerships. (iv) Co-Investment Portfolio 2021 directly owns 10,000,000 shares of Class A Common Stock. (v) Co-Investment Portfolio GP may be deemed to beneficially own 10,000,000 shares of Class A Common Stock, held by Co-Investment Portfolio 2021. (vi) ICQ Co-Investment may be deemed to beneficially own 10,000,000 shares of Class A Common Stock, beneficially owned by the Co-Investment Portfolio GP. (vii) ICONIQ Capital may be deemed to beneficially own 853,844 shares of Class A Common Stock, held by Co-Investment Portfolio 2026. (viii) ICONIQ Group may be deemed to beneficially own 853,844 shares of Class A Common Stock, beneficially owned by ICONIQ Capital. (ix) ICONIQ Group GP may be deemed to beneficially own 853,844 shares of Class A Common Stock, beneficially owned by ICONIQ Group. (x) Makan may be deemed to beneficially own 34,353,844 shares of Class A Common Stock, held by the ICQ Limited Partnerships, Co-Investment Portfolio 2021, and Co-Investment Portfolio 2026. As of March 31, 2026: (i) BB Holdings AC directly owns 3,500,000 shares of Class A Common Stock, which represents approximately 0.5% of the outstanding Class A Common Stock. The 3,500,000 shares of Class A Common Stock held by BB Holdings AC represents 0.5% of the aggregate combined voting power of the Class A Common Stock. (ii) BB Holdings AA directly owns 20,000,000 shares of Class A Common Stock, which represents approximately 3.0% of the outstanding Class A Common Stock. The 20,000,000 shares of Class A Common Stock held by BB Holdings AA represents 3.0% of the aggregate combined voting power of the Class A Common Stock. (iii) ICQ BB may be deemed to beneficially own 23,500,000 shares of Class A Common Stock, held by the ICQ Limited Partnerships, which represents approximately 3.5% of the outstanding Class A Common Stock. The 23,500,000 shares of Class A Common Stock beneficially owned by ICQ BB represents 3.5% of the aggregate combined voting power of the Class A Common Stock. (iv) Co-Investment Portfolio 2021 directly owns 10,000,000 shares of Class A Common Stock, which represents approximately 1.5% of the outstanding Class A Common Stock. The 10,000,000 shares of Class A Common Stock held by Co-Investment Portfolio 2021 represents 1.5% of the aggregate combined voting power of the Class A Common Stock. (v) Co-Investment Portfolio GP may be deemed to beneficially own 10,000,000 shares of Class A Common Stock, held by Co-Investment Portfolio 2021, which represents approximately 1.5% of the outstanding Class A Common Stock. The 10,000,000 shares of Class A Common Stock beneficially owned by Co-Investment Portfolio GP represents 1.5% of the aggregate combined voting power of the Class A Common Stock. (vi) ICQ Co-Investment may be deemed to beneficially own 10,000,000 shares of Class A Common Stock, beneficially owned by Co-Investment Portfolio GP, which represents approximately 1.5% of the outstanding Class A Common Stock. The 10,000,000 shares of Class A Common Stock beneficially owned by ICQ Co-Investment represents 1.5% of the aggregate combined voting power of the Class A Common Stock. (vii) ICONIQ Capital may be deemed to beneficially own 853,844 shares of Class A Common Stock, which represents approximately 0.1% of the outstanding Class A Common Stock. The 853,844 shares of Class A Common Stock held by Co-Investment Portfolio 2026 represents 0.1% of the aggregate combined voting power of the Class A Common Stock. (viii) ICONIQ Group may be deemed to beneficially own 853,844 shares of Class A Common Stock, beneficially owned by ICONIQ Capital, which represents approximately 0.1% of the outstanding Class A Common Stock. The 853,844 shares of Class A Common Stock beneficially owned by ICONIQ Group represents 0.1% of the aggregate combined voting power of the Class A Common Stock. (ix) ICONIQ Group GP may be deemed to beneficially own 853,844 shares of Class A Common Stock, beneficially owned by ICONIQ Group, which represents approximately 0.1% of the outstanding Class A Common Stock. The 853,844 shares of Class A Common Stock beneficially owned by ICONIQ Group GP represents 0.1% of the aggregate combined voting power of the Class A Common Stock. (x) Makan may be deemed to beneficially own 34,353,844 shares of Class A Common Stock, held by the ICQ Limited Partnerships, Co-Investment Portfolio 2021, and Co-Investment Portfolio 2026, which represents approximately 5.1% of the outstanding Class A Common Stock. The 34,353,844 shares of Class A Common Stock held by the ICQ Limited Partnerships, Co-Investment Portfolio 2021, and Co-Investment Portfolio 2026 and beneficially owned by Makan represents 5.1% of the aggregate combined voting power of the Class A Common Stock. The percent of class was calculated based on 675,802,413 shares of Class A Common Stock outstanding as of March 31, 2026, as disclosed in the Issuer's Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on May 1, 2026. As of March 31, 2026: (i) BB Holdings AC had sole power to vote or direct the vote of 3,500,000 shares of Class A Common Stock. (ii) BB Holdings AA had sole power to vote or direct the vote of 20,000,000 shares of Class A Common Stock. (iii) ICQ BB had sole power to vote or direct the vote of 23,500,000 shares of Class A Common Stock, held by the ICQ Limited Partnerships. (iv) Co-Investment Portfolio 2021 had sole power to vote or direct the vote of 10,000,000 shares of Class A Common Stock. (v) Co-Investment Portfolio GP had sole power to vote or direct the vote of 10,000,000 shares of Class A Common Stock, held by Co-Investment Portfolio 2021. (vi) ICQ Co-Investment had sole power to vote or direct the vote of 10,000,000 shares of Class A Common Stock, beneficially owned by the Co-Investment Portfolio GP. (vii) ICONIQ Capital had sole power to vote or direct the vote of 853,844 shares of Class A Common Stock. (viii) ICONIQ Group had sole power to vote or direct the vote of 853,844 shares of Class A Common Stock. (ix) ICONIQ Group GP had sole power to vote or direct the vote of 853,844 shares of Class A Common Stock. (x) Makan had sole power to vote or direct the vote of 34,353,844 shares of Class A Common Stock. As of March 31, 2026, each of the Reporting Persons had shared power to vote or direct the vote of 0 shares of Class A Common Stock. As of March 31, 2026: (i) BB Holdings AC had sole power to dispose or direct the disposition of 3,500,000 shares of Class A Common Stock. (ii) BB Holdings AA had sole power to dispose or direct the disposition of 20,000,000 shares of Class A Common Stock. (iii) ICQ BB had sole power to dispose or direct the disposition of 23,500,000 shares of Class A Common Stock, held by the ICQ Limited Partnerships. (iv) Co-Investment Portfolio 2021 had sole power to dispose or direct the disposition of 10,000,000 shares of Class A Common Stock. (v) Co-Investment Portfolio GP had sole power to dispose or direct the disposition of 10,000,000 shares of Class A Common Stock, held by Co-Investment Portfolio 2021. (vi) ICQ Co-Investment had sole power to dispose or direct the disposition of 10,000,000 shares of Class A Common Stock, beneficially owned by the Co-Investment Portfolio GP. (vii) ICONIQ Capital had sole power to dispose or direct the disposition of 853,844 shares of Class A Common Stock. (viii) ICONIQ Group had sole power to dispose or direct the disposition of 853,844 shares of Class A Common Stock. (ix) ICONIQ Group GP had sole power to dispose or direct the disposition of 853,844 shares of Class A Common Stock. (x) Makan had sole power to dispose or direct the disposition of 34,353,844 shares of Class A Common Stock. As of March 31, 2026, each of the Reporting Persons had shared power to dispose or direct the disposition of 0 shares of Class A Common Stock. Y Y Y N The Reporting Persons expressly disclaim membership in a "group" as used in Rule 13d-5(b)(1). Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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. BB Holdings AC LP /s/ Louis D. Thorne 05/15/2026 BB Holdings AA LP /s/ Louis D. Thorne 05/15/2026 ICQ BB GP, LLC /s/ Louis D. Thorne 05/15/2026 Co-Investment Portfolio 2021 LP /s/ Louis D. Thorne 05/15/2026 Co-Investment Portfolio GP II LP /s/ Louis D. Thorne 05/15/2026 ICQ Co-Investment II TT GP, LLC /s/ Louis D. Thorne 05/15/2026 ICONIQ Capital, LLC /s/ Divesh Makan 05/15/2026 ICONIQ Capital Group, L.P. /s/ Divesh Makan 05/15/2026 ICONIQ Capital Group GP, LLC /s/ Divesh Makan 05/15/2026 Divesh Makan /s/ Divesh Makan 05/15/2026