Apr. 7 at 4:01 PM
$OTF @Tyler444 It is understandable with the same name as the fund manager (Blue Owl) they are getting a lot of collateral damage. However, that is why I am interested because it is a well run BDC. In the December quarterly financials they stated their non accrual (late paying accounts) rate is .04%. The top BCD like
$ARCC is averaging 1.8% vs. industry average is 3.8%. That speaks to the quality of their investments in all 199 companies. Also, their NAV actually went UP last Q to
$17.33 yet the fear in the BDC universe has now driven their discount to NAV to an irrational extreme. They also are sitting on a
$2.3 billion in cash yet to deploy which will increase their earnings, they recently expanded their buyback from
$200M to
$300M and I believe they will go shopping for top quality but assets at fire sale prices from other BDCs. Throw in their SpaceX holding of 500,000 shares that when sold after the IPO will also add to their earnings and 12.5% yield while you wait.
