# EDGAR Filing Document

**Accession Number:** 0002059436
**File Stem:** 0001752724-25-200390
**Filing Date:** 2025-8
**Character Count:** 9655
**Document Hash:** 8ce1b0bad6dbbf5a50c3dde335765278
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-200390.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001752724-25-200390

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Blue Owl Alternative Credit Fund
- **CENTRAL INDEX KEY:** 0002059436

**ORGANIZATION NAME:**
- **EIN:** 333384873
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24062
- **FILM NUMBER:** 251246370

**BUSINESS ADDRESS:**
- **STREET 1:** 399 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-201-1924

**MAIL ADDRESS:**
- **STREET 1:** 399 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Blue Owl Alternative Credit Fund

- **b. Investment Company Act file number:** 811-24062

- **c. CIK number of Registrant:** 0002059436

- **d. LEI of Registrant:** 2549003RD9LRX8SZ2E08

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 399 PARK AVENUE

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10022

  - **Telephone number:** 212-419-3000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Blue Owl Alternative Credit Fund

- **c. LEI of Series:** 2549003RD9LRX8SZ2E08

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $162809884.62

**Total Liabilities:** $34494120.76

**Net Assets:** $128315763.86

**Cash Not Reported:** $5554.25

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -9.17000000 | **1-Year:** -611.49000000 | **5-Year:** -1771.04000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -82.61000000 | **1-Year:** -9706.00000000 | **5-Year:** -21540.27000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.30%                | 0.88%                | 0.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $130327.91                                 |
| Month 3  | $0.00                    | $-445227.11                                |

### Schedule of Portfolio Investments

| Name                                                       | Title                                                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ACM Uprise Direct 2024 LLC                                 | ACM UPRISE DIRECT 2024 LLC                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  11805493 | NS      | $11826376.80  | 9.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Opportunity Funding SPE V, LLC                             | OPPORTUNITY FUNDING SPE V LLC REVOLVER TRANCHE D                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  38692500 | PA      | $38328272.41  | 29.87%            | 2029-02-13      | Floating      | 11.62%                | No            | 3                  | On Loan: No      |
| BOAC AIF A4 Interval Pagani Depositor LLC                  | BOAC AIF A4 INTERVAL PAGANI                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  11191005 | NS      | $11166094.22  | 8.70%             |  |  |  | Yes           | N/A                | On Loan: No      |
| U.S. Claims Litigation Funding, LLC                        | US Claims Litigation Funding LLC                                              | CUSIP: 91735CAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5950000 | PA      | $5503750.00   | 4.29%             | 2030-06-30      | Fixed         | 10.25%                | No            | 3                  | On Loan: No      |
| GLS FLOW TRUST-12                                          | GLS Auto Receivables Trust                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2558743 | NS      | $2620505.05   | 2.04%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Mission Lane Credit Card Master Trust                      | Mission Lane Credit Card Master Trust 2025 Revolver                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  17857143 | PA      | $17776078.00  | 13.85%            | 2030-03-15      | Floating      | 11.32%                | No            | 3                  | On Loan: No      |
| BOAC Crevasse I LLC                                        | BOAC CREVASSE I LLC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2228391 | NS      | $2219809.37   | 1.73%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CLP Issuer III, LLC                                        | CLP ISSUER III LLC REVOLVER                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10867360 | PA      | $10759222.60  | 8.38%             | 2028-05-30      | Floating      | 10.83%                | No            | 3                  | On Loan: No      |
| BOAC SF 2025L LLC                                          | BOAC SF 2025L LLC                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2833149 | NS      | $2789064.79   | 2.17%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SoFi Consumer Loan Program 2025-2 Trust                    | SoFi Consumer Loan Program 2025-2 Trust                                       | CUSIP: 83407HAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    320000 | PA      | $320000.00    | 0.25%             | 2034-06-25      | Fixed         | 5.62%                 | Yes           | 3                  | On Loan: No      |
| LendingClub Structured Loan Certificate Issuer Trust       | LendingClub Structured Loan Certificate Issuer Trust Series 2025-RP1 Residual | CUSIP: 525945101<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12047360 | PA      | $11978165.15  | 9.33%             | 2040-03-15      | None          | 0.00%                 | Yes           | 3                  | On Loan: No      |
| LendingClub Structured Loan Certificate Issuer Trust       | LendingClub Structured Loan Certificate Issuer Trust Series 2025-RP1 B Note   | CUSIP: 525945AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6215000 | PA      | $6243410.26   | 4.87%             | 2032-02-17      | Fixed         | 6.73%                 | Yes           | 3                  | On Loan: No      |
| Continental Finance Company, LLC                           | Continental Finance Company LLC Refinancing Term Loan                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  22109641 | PA      | $21888544.59  | 17.06%            | 2029-03-11      | Floating      | 12.32%                | No            | 3                  | On Loan: No      |
| State Street Institutional US Government Money Market Fund | State Street Institutional US Government Money Market Fund                    | CUSIP: 857492649<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | EC               | RF                | US        |  13232543 | NS      | $13232542.92  | 10.31%            |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-08-21

**Name of Applicant:** Blue Owl Alternative Credit Fund

**Signature:** Jerry Cammarata

**Name of Signer:** Jerry Cammarata

**Title:** CFO