Cortland Associates Inc/MO cut its stake in Blue Owl Capital (OWL 2.72%), selling 645,218 shares in the fourth quarter, an estimated $10.09 million trade based on quarterly average pricing, according to a January 28, 2026, SEC filing.
What Happened
According to an SEC filing dated January 28, 2026, Cortland Associates Inc/MO reduced its position in Blue Owl Capital by 645,218 shares during the fourth quarter of 2025. The estimated value of the shares sold was $10.09 million, based on the quarterly average price. The fund's quarter-end position value fell by $13.64 million, a figure that includes both trading and price changes.
What Else to Know
This was a reduction, not a liquidation, leaving Blue Owl Capital at 2.57% of Cortland’s $792.13 million reportable AUM.
Top holdings after the filing:
- NASDAQ: GOOGL: $74.69 million (9.6% of AUM)
- NASDAQ: WTW: $61.40 million (7.9% of AUM)
- NYSE: V: $58.72 million (7.6% of AUM)
- NYSE: KD: $55.28 million (7.0% of AUM)
- NASDAQ: BKNG: $54.02 million (6.8% of AUM)
As of January 27, 2026, Blue Owl Capital shares were priced at $14.53, down 40.0% over the past year; shares have underperformed the S&P 500 by 56.0 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.75 billion |
| Net income (TTM) | $225.79 million |
| Dividend yield | 6.20% |
| Price (as of market close January 27, 2026) | $14.53 |
Company Snapshot
- Offers direct lending, GP capital solutions, and real estate products, with revenue primarily generated from asset management fees and investment income.
- Operates a permanent capital model, earning recurring fee income by managing capital for institutional clients through private funds and vehicles.
- Serves middle-market companies, large alternative asset managers, and corporate real estate owners and tenants.
Blue Owl Capital is a leading asset manager specializing in permanent capital solutions for institutional clients. The company leverages a diversified platform to provide direct lending, GP capital solutions, and real estate financing, enabling stable and recurring fee-based revenue streams. Its scale, product breadth, and focus on long-term client partnerships underpin its competitive advantage in the alternative asset management sector.
What This Transaction Means For Investors
Cortland Associates, an independent investment management firm, recently disclosed a sale of about $10.1 million worth of Blue Owl Capital stock during the fourth quarter of 2025 (the three months ending on Dec. 31, 2025). Here’s what retail investors need to know.
To begin, it’s important to note Blue Owl’s performance history and how it has shifted in the last 12 months. In a nutshell, Blue Owl generally outperformed the S&P 500 between 2021 and 2025. However, over the last 12 months, the stock has massively underperformed the benchmark index. For example, starting in January 2021 through January 2025, Blue Owl stock generated a total return of 132%, while the S&P generated a total return of 66%. However, over the last 12 months, Blue Owl stock has sunk. Shares are down 40%, while the S&P 500 has advanced by nearly 18%.
There are multiple reasons for the shift in sentiment. Blue Owl has missed earnings expectations and has faced skepticism over rising non-accruals (non-performing loans). In addition, the company has faced lawsuits related to allegations of misleading investors who wanted to withdraw money from its funds. In such situations, it can be difficult for any investor to navigate with certainty until all the facts are fully known. In the meantime, volatility can spike — making the stock’s short-term price movements quite unpredictable.
In summary, Blue Owl stock is facing severe uncertainty, with some investors heading for the exits. Retail investors may be wise to let the dust settle before acting.
