Manager record · ✦ curated · archived quarter
Oaktree Capital Management
Co-founded by Howard Marks · Los Angeles, CA · CIK 949509 · EDGAR filings ↗
Credit specialist; the 13F shows only its listed-equity sliver.
$6.49BReported 13F value
165Positions
62.5%Top-10 weight
14.80Effective holdings
9.1%Est. turnover
+12New
−9Exits
Reported 13F portfolio value covers U.S. reportable long positions only, not cash, bonds, shorts or non-U.S. holdings. It is not assets under management.
Sector exposure
Industrials
21.5% (+0.8pp)
Energy
20.2% (-2.4pp)
Basic Materials
14.0% (-7.5pp)
Consumer Cyclical
10.1% (-1.1pp)
Communication Services
9.8% (+5.9pp)
Technology
7.2% (+2.2pp)
Financial Services
7.0% (+1.1pp)
Utilities
4.7% (+1.8pp)
Real Estate
3.7% (-1.4pp)
Healthcare
1.3% (+0.1pp)
Consumer Defensive
0.5% (+0.4pp)
Share of reported common-equity value; (±pp) vs prior quarter.
The portfolio · Q3 2025
| # | Security | Weight | Value | Shares | Δ shares | Held | |
|---|---|---|---|---|---|---|---|
| 1 | TRMD TORM plc | 17.6% | $834.58M | 40.58M | 0.0% | Held | 6 |
| 2 | EXE Expand Energy Corporation | 11.5% | $547.04M | 5.16M | 0.0% | ▼ Trim | 6 |
| 3 | GTX Garrett Motion Inc. | 9.2% | $434.41M | 31.89M | -13.6% | ▼ Trim | 6 |
| 4 | AU AngloGold Ashanti plc | 6.2% | $294.35M | 4.19M | -15.4% | ▼ Trim | 6 |
| 5 | VNOM Viper Energy, Inc. | 5.1% | $240.22M | 6.29M | New | New | 1 |
| 6 | TDS Telephone and Data Systems… | 3.1% | $144.73M | 3.69M | New | New | 1 |
| 7 | TLN Talen Energy Corporation | 2.6% | $123.84M | 291.12K | +124.2% | ▲ Add | 5 |
| 8 | STKL SUNOPTA INC | 2.6% | $121.43M | 20.73M | 0.0% | Held | 6 |
| 9 | CORZ Core Scientific, Inc. | 2.4% | $114.83M | 6.40M | New | New | 1 |
| 10 | B Barrick Mining Corporation | 2.3% | $108.21M | 3.30M | +4.6% | ▲ Add | 2 |
| 11 | LBTYA Liberty Global plc | 2.1% | $98.00M | 8.55M | +4.1% | ▲ Add | 6 |
| 12 | FTAI FTAI Aviation Ltd. | 2.1% | $97.64M | 585.17K | New | New | 1 |
| 13 | CX CEMEX, S.A.B. de C.V. | 2.0% | $93.93M | 10.45M | -29.6% | ▼ Trim | 6 |
| 14 | ITUB Itaú Unibanco Holding S.A. | 2.0% | $92.97M | 12.67M | +15.1% | ▲ Add | 3 |
| 15 | CBL CBL & Associates… | 1.9% | $91.90M | 3.01M | 0.0% | Held | 6 |
| 16 | NOK Nokia Oyj | 1.9% | $90.20M | 18.75M | 0.0% | Held | 3 |
| 17 | TAC TransAlta Corporation | 1.8% | $87.65M | 6.42M | +5.4% | ▲ Add | 3 |
| 18 | RWAY Runway Growth Finance Corp. | 1.8% | $84.12M | 8.28M | -15.3% | ▼ Trim | 6 |
| 19 | KRC Kilroy Realty Corporation | 1.6% | $78.16M | 1.85M | 0.0% | Held | 6 |
| 20 | GRAB Grab Holdings Limited | 1.5% | $72.81M | 12.09M | +4.5% | ▲ Add | 3 |
| 21 | NU Nu Holdings Ltd. | 1.5% | $72.35M | 4.52M | New | New | 1 |
| 22 | VIST Vista Energy, S.A.B. de C.V. | 1.3% | $63.34M | 1.84M | -10.7% | ▼ Trim | 6 |
| 23 | LILA Liberty Latin America Ltd. | 1.3% | $63.31M | 7.52M | +222.8% | ▲ Add | 2 |
| 24 | FCX Freeport-McMoRan Inc. | 1.2% | $59.02M | 1.50M | -24.6% | ▼ Trim | 6 |
| 25 | YMM Full Truck Alliance Co. Ltd. | 1.0% | $49.26M | 3.80M | +106.1% | ▲ Add | 2 |
| 26 | BLCO Bausch + Lomb Corporation | 1.0% | $48.91M | 3.25M | +28.7% | ▲ Add | 2 |
| 27 | ECHO EchoStar Corporation | 1.0% | $45.82M | 600.00K | New | New | 1 |
| 28 | BZ Kanzhun Limited | 0.8% | $38.39M | 1.64M | +4.6% | ▲ Add | 5 |
| 29 | XP XP Inc. | 0.8% | $38.20M | 2.03M | New | New | 1 |
| 30 | CRC California Resources Corp | 0.8% | $36.93M | 694.50K | -49.6% | ▼ Trim | 5 |
| 31 | SBLK Star Bulk Carriers Corp. | 0.8% | $36.49M | 1.96M | -39.2% | ▼ Trim | 6 |
| 32 | USM United States Cellular… | 0.8% | $36.23M | 724.44K | New | New | 1 |
| 33 | TX Ternium S.A. | 0.7% | $31.17M | 897.51K | -2.4% | ▼ Trim | 6 |
| 34 | NBR Nabors Industries Ltd. | 0.6% | $30.13M | 737.11K | New | New | 1 |
| 35 | SE Sea Limited | 0.5% | $25.27M | 141.37K | +69.3% | ▲ Add | 2 |
| 36 | ECVT Ecovyst Inc. | 0.5% | $25.05M | 2.86M | New | New | 1 |
| 37 | OCSL Oaktree Specialty Lending… | 0.5% | $24.17M | 1.85M | 0.0% | Held | 6 |
| 38 | JBS Jbs N.V. | 0.5% | $23.60M | 1.58M | +562.3% | ▲ Add | 2 |
| 39 | VALE Vale S.A. | 0.5% | $22.09M | 2.03M | 0.0% | Held | 6 |
| 40 | ALVO ALVOTECH SA | 0.4% | $19.89M | 6.23M | 0.0% | Held | 6 |
| 41 | TEO TELECOM ARGENTINA SA | 0.4% | $19.12M | 2.63M | -0.6% | ▼ Trim | 6 |
| 42 | OPTU Optimum Communications, Inc. | 0.4% | $18.07M | 7.50M | 0.0% | Held | 6 |
| 43 | Indivior (unmapped) | n/a | $10.69M | 257.79M | n/a | n/a | |
| 44 | SMRT SMARTRENT INC | 0.2% | $10.58M | 7.51M | 0.0% | Held | 6 |
| 45 | MX MAGNACHIP SEMICONDUCTOR CORP | 0.2% | $8.92M | 2.85M | 0.0% | Held | 6 |
| 46 | ACR ACRES COMMERCIAL REALTY CORP | 0.2% | $8.28M | 391.38K | New | New | 1 |
| 47 | BHC Bausch Health Companies Inc. | 0.2% | $8.19M | 1.27M | 0.0% | Held | 6 |
| 48 | LGN Legence Corp. Class A… | 0.1% | $5.39M | 175.00K | New | New | 1 |
| 49 | HDB HDFC Bank Limited | 0.1% | $5.17M | 151.21K | -10.9% ✂ | ▼ Trim | 6 |
| 50 | BATL BATTALION OIL CORP | 0.1% | $3.65M | 3.01M | +0.1% | ▲ Add | 6 |
| 51 | TGS TRANSPORTADORA DE GAS DEL… | 0.0% | $1.19M | 56.52K | -58.9% | ▼ Trim | 6 |
| 52 | BTAI BIOXCEL THERAPEUTICS INC | 0.0% | $617,443 | 241.19K | 0.0% | Held | 2 |
| 53 | TPIC TPI COMPOSITES INC | 0.0% | $142,910 | 4.61M | 0.0% | Held | 6 |
Common-stock (SH) positions only; option lines are in the Options tab and are never netted. ✂ = change computed against split-adjusted prior shares. “Held N+” = held every quarter in our window, possibly longer.
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| VNOM Viper Energy, Inc. | 6.29M | n/a | New | $240.22M | 5.1% | |
| TDS Telephone and Data… | 3.69M | n/a | New | $144.73M | 3.1% | |
| CORZ Core Scientific, Inc. | 6.40M | n/a | New | $114.83M | 2.4% | |
| FTAI FTAI Aviation Ltd. | 585.17K | n/a | New | $97.64M | 2.1% | |
| NU Nu Holdings Ltd. | 4.52M | n/a | New | $72.35M | 1.5% | |
| ECHO EchoStar Corporation | 600.00K | n/a | New | $45.82M | 1.0% | |
| XP XP Inc. | 2.03M | n/a | New | $38.20M | 0.8% | |
| USM United States Cellular… | 724.44K | n/a | New | $36.23M | 0.8% | |
| NBR Nabors Industries Ltd. | 737.11K | n/a | New | $30.13M | 0.6% | |
| ECVT Ecovyst Inc. | 2.86M | n/a | New | $25.05M | 0.5% | |
| ACR | 391.38K | n/a | New | $8.28M | 0.2% | |
| LGN Legence Corp. Class A… | 175.00K | n/a | New | $5.39M | 0.1% |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| TLN Talen Energy Corporation | 291.12K | 129.83K | +124.2% | $123.84M | 2.6% | |
| B Barrick Mining… | 3.30M | 3.16M | +4.6% | $108.21M | 2.3% | ●●○○○○ |
| LBTYA Liberty Global plc | 8.55M | 8.21M | +4.1% | $98.00M | 2.1% | ●●○○○○ |
| ITUB Itaú Unibanco Holding… | 12.67M | 11.00M | +15.1% | $92.97M | 2.0% | ●●●○○○ |
| TAC TransAlta Corporation | 6.42M | 6.09M | +5.4% | $87.65M | 1.8% | ●●●○○○ |
| GRAB Grab Holdings Limited | 12.09M | 11.57M | +4.5% | $72.81M | 1.5% | ●●●○○○ |
| LILA Liberty Latin America… | 7.52M | 2.33M | +222.8% | $63.31M | 1.3% | ●●○○○○ |
| YMM Full Truck Alliance Co.… | 3.80M | 1.84M | +106.1% | $49.26M | 1.0% | ●●○○○○ |
| BLCO Bausch + Lomb… | 3.25M | 2.52M | +28.7% | $48.91M | 1.0% | ●●○○○○ |
| BZ Kanzhun Limited | 1.64M | 1.57M | +4.6% | $38.39M | 0.8% | ●●○○○○ |
| SE Sea Limited | 141.37K | 83.51K | +69.3% | $25.27M | 0.5% | ●●○○○○ |
| JBS Jbs N.V. | 1.58M | 238.61K | +562.3% | $23.60M | 0.5% | ●●○○○○ |
| BATL | 3.01M | 3.01M | +0.1% | $3.65M | 0.1% |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| EXE Expand Energy… | 5.16M | 5.16M | 0.0% | $547.04M | 11.5% | ●●●○○○ |
| GTX Garrett Motion Inc. | 31.89M | 36.89M | -13.6% | $434.41M | 9.2% | ●●○○○○ |
| AU AngloGold Ashanti plc | 4.19M | 4.95M | -15.4% | $294.35M | 6.2% | ●●●●●○ |
| RWAY Runway Growth Finance… | 8.28M | 9.78M | -15.3% | $84.12M | 1.8% | ●●○○○○ |
| CX CEMEX, S.A.B. de C.V. | 10.45M | 14.84M | -29.6% | $93.93M | 2.0% | ●●○○○○ |
| VIST Vista Energy, S.A.B. de… | 1.84M | 2.06M | -10.7% | $63.34M | 1.3% | ●●●●○○ |
| FCX Freeport-McMoRan Inc. | 1.50M | 2.00M | -24.6% | $59.02M | 1.2% | ●●○○○○ |
| CRC California Resources… | 694.50K | 1.38M | -49.6% | $36.93M | 0.8% | |
| SBLK Star Bulk Carriers Corp. | 1.96M | 3.23M | -39.2% | $36.49M | 0.8% | ●●○○○○ |
| TX Ternium S.A. | 897.51K | 919.71K | -2.4% | $31.17M | 0.7% | |
| TEO | 2.63M | 2.64M | -0.6% | $19.12M | 0.4% | ●●●●○○ |
| HDB HDFC Bank Limited | 151.21K | 84.84K | -10.9% ✂ | $5.17M | 0.1% | ●●○○○○ |
| TGS | 56.52K | 137.63K | -58.9% | $1.19M | 0.0% | ●●●●●○ |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| STR Sitio Royalties Corp. | n/a | 12.95M | Exit | $237.94M | 6.0% | |
| EC Ecopetrol S.A. | n/a | 3.55M | Exit | $31.42M | 0.8% | |
| BEKE KE Holdings Inc. | n/a | 1.51M | Exit | $26.84M | 0.7% | |
| UNIT Uniti Group Inc. | n/a | 3.40M | Exit | $14.68M | 0.4% | |
| BRY | n/a | 3.70M | Exit | $10.24M | 0.3% | |
| YPF YPF Sociedad Anónima | n/a | 324.33K | Exit | $10.20M | 0.3% | |
| HDSN | n/a | 562.66K | Exit | $4.57M | 0.1% | |
| BMA | n/a | 60.59K | Exit | $4.25M | 0.1% | |
| BAK | n/a | 453.17K | Exit | $1.49M | 0.0% |
| Underlying | Type | Underlying shares | Reported value |
|---|---|---|---|
| SPY | Put | 330.00K | $219.84M |
| ORCL | Put | 500.00K | $140.62M |
| IWM | Put | 220.00K | $53.23M |
| MAR | Put | 150.00K | $39.07M |
| TLN | Call | 65.00K | $27.65M |
| WING | Put | 50.00K | $12.58M |
13Fs report option notional (underlying shares and market value) but not strike, expiry, or whether the option was bought or written, so no direction can be inferred. Methodology
Position age
120–1 quarters
112–4 quarters
295–8 quarters
Consecutive quarters each current position has been reported, within our data window.
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| Wcm Investment Management, Llc | 3 | 1.0% | 0.0203 | Compare ⇄ |
Similarity of reported longs only; hedges and non-13F assets are invisible. Methodology
Filing record
Aug 14 2026
13F-HR · period Q2 2026
$7.21B · 145 holdings listed · View original SEC filing ↗
May 20 2026
13F-HR/A · period Q1 2026
$6.56B · 147 holdings listed · amendment (restatement) · View original SEC filing ↗
May 19 2026
13F-HR/A · period Q1 2026
$6.49B · 142 holdings listed · amendment (restatement) · View original SEC filing ↗
May 15 2026
13F-HR · period Q1 2026
$6.28B · 142 holdings listed · View original SEC filing ↗
Feb 17 2026
13F-HR · period Q4 2025
$7.03B · 172 holdings listed · View original SEC filing ↗
Nov 13 2025
13F-HR · period Q3 2025
$6.49B · 165 holdings listed · View original SEC filing ↗
Aug 13 2025
13F-HR · period Q2 2025
$5.81B · 178 holdings listed · View original SEC filing ↗
May 15 2025
13F-HR · period Q1 2025
$5.17B · 170 holdings listed · View original SEC filing ↗
Feb 12 2025
13F-HR · period Q4 2024
$5.64B · 165 holdings listed · View original SEC filing ↗
Nov 14 2024
13F-HR · period Q3 2024
$6.24B · 168 holdings listed · View original SEC filing ↗
Aug 14 2024
13F-HR · period Q2 2024
$6.30B · 152 holdings listed · View original SEC filing ↗
Provenance: All holdings parsed from this manager's 13F information tables on SEC EDGAR; values as reported, whole USD. Changes compare the latest accepted version of each quarter (amendments incorporated) on split-adjusted share counts.
Reporting period: Q3 2025 · latest filing Aug 14, 2026 ·
Change methodology