Blue Owl discloses 4.34% Nuveen Churchill (NCDL) stake in Schedule 13G/A

Rhea-AI Filing Summary

Blue Owl Capital Holdings LP filed an amended Schedule 13G reporting beneficial ownership of 2,143,626 shares of Nuveen Churchill Direct Lending Corp. common stock, representing 4.34% of the outstanding shares.

The percentage is based on 49,387,065 common shares outstanding as of November 3, 2025, as cited from the issuer’s Form 10-Q. Blue Owl reports sole voting and dispositive power over all reported shares and certifies the position is held in the ordinary course of business, not to change or influence control of the company.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

NUVEEN CHURCHILL DIRECT LENDING CORP.

(Name of Issuer)

Common stock, par value $0.01 per share

(Title of Class of Securities)

67090S108

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 67090S108

1

Names of Reporting Persons

Blue Owl Capital Holdings LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,143,626.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,143,626.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,143,626.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.34 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: Calculated based on 49,387,065 shares of common stock outstanding as of November 3, 2025, as reported in the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 4, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NUVEEN CHURCHILL DIRECT LENDING CORP.
(b)	Address of issuer's principal executive offices: 375 Park Avenue, 9th Floor New York, New York 10152
Item 2.
(a)	Name of person filing: This statement is filed by the Blue Owl Capital Holdings LP, referred to herein as the "Reporting Person."
(b)	Address or principal business office or, if none, residence: 399 Park Avenue New York, New York 10022
(c)	Citizenship: See response to Item 4 on the cover page.
(d)	Title of class of securities: Common stock, par value $0.01 per share
(e)	CUSIP No.: 67090S108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See response to Item 9 on the cover page. The filing of this statement shall not be deemed an admission by the Reporting Person of beneficial ownership of the reported securities for purposes of Section 13(d) or Section 13(g) or any other purpose.
(b)	Percent of class: See response to Item 11 on the cover page.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See response to Item 5 on the cover page.
	(ii) Shared power to vote or to direct the vote: See response to Item 6 on the cover page.
	(iii) Sole power to dispose or to direct the disposition of: See response to Item 7 on the cover page.
	(iv) Shared power to dispose or to direct the disposition of: See response to Item 8 on the cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Blue Owl Capital Holdings LP

Signature:	/s/ Karen Hager
Name/Title:	Karen Hager / Chief Compliance Officer
Date:	02/12/2026

FAQ

What percentage of Nuveen Churchill Direct Lending (NCDL) does Blue Owl own?

Blue Owl Capital Holdings LP reports beneficial ownership of 4.34% of Nuveen Churchill Direct Lending Corp. common stock. This represents 2,143,626 shares, based on 49,387,065 shares outstanding as of November 3, 2025, as referenced from the issuer’s Form 10-Q.

How many NCDL shares does Blue Owl report in its latest Schedule 13G/A?

Blue Owl Capital Holdings LP reports beneficial ownership of 2,143,626 shares of Nuveen Churchill Direct Lending Corp. common stock. The filing also indicates Blue Owl has sole voting and sole dispositive power over all of these reported shares, with no shared authority disclosed.

On what share count is Blue Owl’s 4.34% NCDL stake based?

The reported 4.34% ownership is calculated using 49,387,065 common shares of Nuveen Churchill Direct Lending Corp. outstanding as of November 3, 2025. This outstanding share figure comes from the issuer’s Form 10-Q filed on November 4, 2025, as cited in the ownership statement.

Does Blue Owl seek to influence control of Nuveen Churchill Direct Lending (NCDL)?

Blue Owl certifies the NCDL securities were acquired and are held in the ordinary course of business. The filing states they were not acquired and are not held for the purpose of changing or influencing control of the issuer, nor in connection with any such transaction.

What type of filing did Blue Owl submit regarding its NCDL position?

Blue Owl Capital Holdings LP submitted an Amendment No. 2 to Schedule 13G for Nuveen Churchill Direct Lending Corp. This filing updates its beneficial ownership information, including total shares held, percentage of the class, and details on its sole voting and dispositive power.

Who signed the Blue Owl Schedule 13G/A for Nuveen Churchill Direct Lending (NCDL)?

The amended Schedule 13G for Nuveen Churchill Direct Lending Corp. was signed by Karen Hager, identified as Chief Compliance Officer. The signature block includes a certification that the information in the statement is true, complete, and correct to the best of her knowledge and belief.