Oaktree Capital

Superinvestor

Oaktree Capital Management LP

SEC CIK: 0000949509
Manager: Howard Marks
Style: Value
Latest filing: Aug 13, 2026

SEC filings (opens in a new tab)

Holdings in Q4 2024

Holdings as of Dec 31, 2024, filed Feb 12, 2025. Long positions only; changes compare share counts with Q3 2024.

Positions: 160; −6 vs. Q3 2024
Portfolio value: $5.26B; −$737.5M (−12.3%) vs. Q3 2024
Filed: Feb 12, 2025; SEC

Holdings of Oaktree Capital in Q4 2024
Security	Class	Shares	Value	% of portfolio	Share change	Action	History
TRMDTORM plc	SHS CL A	40,581,120	$779.9M	14.8%	00.0%	Unchanged	History
EXEExpand Energy Corp	COM	6,937,364	$690.6M	13.1%	+66,480+1.0%	Added	History
GTXGarrett Motion Inc.	Stock	44,082,816	$398.1M	7.6%	00.0%	Unchanged	History
STRSitio Royalties Corp.	CLASS A COM	12,935,120	$248.1M	4.7%	00.0%	Unchanged	History
INFNInfinera Corp	COM	25,175,384	$165.4M	3.1%	00.0%	Unchanged	History
STKLSunOpta Inc.	COM	20,726,126	$159.4M	3.0%	00.0%	Unchanged	History
AUAngloGold Ashanti PLC	COM SHS	5,557,551	$128.3M	2.4%	−99,900−1.8%	Reduced	History
VISTVista Energy, S.A.B. de C.V.	SPONSORED ADS	2,293,561	$124.1M	2.4%	−210,153−8.4%	Reduced	History
RWAYRunway Growth Finance Corp.	COM	10,779,667	$118.1M	2.2%	00.0%	Unchanged	History
INDVIndivior Pharmaceuticals, Inc.	ORD	8,733,548	$112.0M	2.1%	−788,432−8.3%	Reduced	History
CRCCalifornia Resources Corp	COM STOCK	2,046,753	$106.2M	2.0%	00.0%	Unchanged	History
LBTYALiberty Global Ltd.	COM CL A	7,204,190	$91.9M	1.7%	+1,230,932+20.6%	Added	History
CBLCBL & Associates Properties Inc	COMMON STOCK	3,005,126	$88.4M	1.7%	−1,000,000−25.0%	Reduced	History
CXCemex SAB de CV	SPON ADR NEW	14,589,032	$82.3M	1.6%	−100,000−0.7%	Reduced	History
SBLKStar Bulk Carriers Corp.	SHS PAR	5,373,631	$80.3M	1.5%	−338,575−5.9%	Reduced	History
TLNTalen Energy Corp	COM	396,624	$79.9M	1.5%	−300,052−43.1%	Reduced	History
KRCKilroy Realty Corp	COM	1,850,011	$74.8M	1.4%	00.0%	Unchanged	History
FCXFreeport-McMoran Inc	Stock	1,763,003	$67.1M	1.3%	−662,236−27.3%	Reduced	History
VALEVale S.A.	SPONSORED ADS	7,192,005	$63.8M	1.2%	−1,011,461−12.3%	Reduced	History
SNNRFSunrise Communications AG	ADS CL A	1,440,836	$62.1M	1.2%	+1,440,836	New	History
TCOMTrip.com Group Ltd	ADS	717,222	$49.2M	0.9%	−74,301−9.4%	Reduced	History
JDJD.com, Inc.	SPON ADS CL A	1,409,952	$48.9M	0.9%	−350,256−19.9%	Reduced	History
Coherus Biosciences Inc19249HAB9	NOTE 1.500% 4/1	–	$47.7M	0.9%	–	–	–
Sunnova Energy Intl Inc.86745KAF1	NOTE 0.250%12/0	–	$44.5M	0.8%	–	–	–
PBRPetrobras - Petroleo Brasileiro SA	SPONSORED ADR	3,352,724	$43.1M	0.8%	−716,548−17.6%	Reduced	History
Cable One, Inc.12685JAE5	NOTE 3/1	–	$43.0M	0.8%	–	–	–
YUMCYum China Holdings, Inc.	COM	877,830	$42.3M	0.8%	−99,076−10.1%	Reduced	History
Pebblebrook Hotel Tr70509VAA8	NOTE 1.750%12/1	–	$38.4M	0.7%	–	–	–
HTHTH World Group Ltd	SPONSORED ADS	1,145,269	$37.8M	0.7%	−22,600−1.9%	Reduced	History
JetBlue Airways Corp477143AP6	NOTE 0.500% 4/0	–	$37.2M	0.7%	–	–	–
INFYInfosys Ltd	SPONSORED ADR	1,677,679	$36.8M	0.7%	−33,833−2.0%	Reduced	History
BMAMacro Bank Inc.	SPON ADR B	378,625	$36.6M	0.7%	−85,675−18.5%	Reduced	History
NTESNetEase, Inc.	SPONSORED ADS	399,694	$35.7M	0.7%	+167,100+71.8%	Added	History
ENLCEnLink Midstream, LLC	COM UNIT REP LTD	2,499,111	$35.4M	0.7%	−25,987−1.0%	Reduced	History
TEOTelecom Argentina SA	SPON ADR REP B	2,799,263	$35.2M	0.7%	−279,825−9.1%	Reduced	History
Guardant Health, Inc.40131MAB5	NOTE 11/1	–	$32.5M	0.6%	–	–	–
Realogy Grp LLC/Realogy Co75606DAP6	NOTE 0.250% 6/1	–	$32.4M	0.6%	–	–	–
OCSLOaktree Specialty Lending Corp	COM	1,852,456	$28.3M	0.5%	00.0%	Unchanged	History
PDDPDD Holdings Inc.	SPONSORED ADS	277,767	$26.9M	0.5%	−5,500−1.9%	Reduced	History
ALVOAlvotech	ORDINARY SHARES	1,925,705	$25.5M	0.5%	−606,322−23.9%	Reduced	History
BZKanzhun Ltd	SPONSORED ADS	1,762,631	$24.3M	0.5%	−248,943−12.4%	Reduced	History
TXTernium S.A.	SPONSORED ADS	828,309	$24.1M	0.5%	−16,600−2.0%	Reduced	History
TGSGas Transporter of the South Inc	SPONSORED ADS B	794,183	$23.2M	0.4%	−129,000−14.0%	Reduced	History
UNITUniti Group Inc.	COM	3,397,592	$18.7M	0.4%	00.0%	Unchanged	History
Sunnova Energy Intl Inc.86745KAH7	NOTE 2.625% 2/1	–	$18.2M	0.3%	–	New	–
OPTUOptimum Communications, Inc.	CL A	7,500,000	$18.1M	0.3%	00.0%	Unchanged	History
PG&E Corp69331CAL2	NOTE 4.250%12/0	–	$16.6M	0.3%	–	New	–
Ascendis Pharma A/S04351PAD3	NOTE 2.250% 4/0	–	$16.0M	0.3%	–	–	–
Barrick Gold Corp067901108	COM	1,015,063	$15.7M	0.3%	+1,015,063	New	–
BRYBerry Corp (bry)	COM	3,697,000	$15.3M	0.3%	00.0%	Unchanged	History
ALVOWAlvotech	*W EXP 06/15/202	4,666,667	$14.5M	0.3%	00.0%	Unchanged	History
Alphatec Hldgs Inc02081GAB8	NOTE 0.750% 8/0	–	$14.2M	0.3%	–	–	–
Etsy Inc29786AAN6	NOTE 0.250% 6/1	–	$13.9M	0.3%	–	–	–
Southern Co842587DP9	NOTE 3.875%12/1	–	$13.3M	0.3%	–	–	–
SMRTSmartRent, Inc.	COM CL A	7,505,294	$13.1M	0.2%	00.0%	Unchanged	History
ONITOnity Group Inc.	COM NEW	410,429	$12.6M	0.2%	−40,600−9.0%	Reduced	History
Akamai Technologies Inc00971TAL5	NOTE 0.375% 9/0	–	$12.0M	0.2%	–	–	–
Uber Technologies, Inc90353TAM2	NOTE 0.875%12/0	–	$11.7M	0.2%	–	New	–
PAMPampa Energy Inc.	SPONS ADR LVL I	131,086	$11.5M	0.2%	−72,681−35.7%	Reduced	History
NCL Corp Ltd62886HBD2	NOTE 1.125% 2/1	–	$11.5M	0.2%	–	–	–
MXMagnachip Semiconductor Corp	COM	2,849,858	$11.5M	0.2%	00.0%	Unchanged	History
Travere Therapeutics, Inc.89422GAA5	NOTE 2.250% 3/0	–	$11.0M	0.2%	–	–	–
DQDaqo New Energy Corp.	SPNSRD ADS NEW	551,007	$10.7M	0.2%	−53,932−8.9%	Reduced	History
SHIFT4 PMTS Inc82452JAD1	NOTE 0.500% 8/0	–	$10.7M	0.2%	–	New	–
Huazhu Group Ltd44332NAB2	NOTE 3.000% 5/0	–	$10.4M	0.2%	–	–	–
BHCBausch Health Companies Inc.	Stock	1,270,000	$10.2M	0.2%	00.0%	Unchanged	History
Sarepta Therapeutics, Inc.803607AD2	NOTE 1.250% 9/1	–	$9.69M	0.2%	–	–	–
BAKBraskem SA	SP ADR PFD A	2,491,792	$9.62M	0.2%	00.0%	Unchanged	History
CMS Energy Corp125896BX7	NOTE 3.375% 5/0	–	$9.51M	0.2%	–	–	–
Liberty Media Corp531229AQ5	NOTE 2.250% 8/1	–	$9.20M	0.2%	–	–	–
PPL Cap FDG Inc69352PAS2	NOTE 2.875% 3/1	–	$8.90M	0.2%	–	–	–
Shake Shack Inc.819047AB7	NOTE 3/0	–	$8.80M	0.2%	–	–	–
ZTO Express (Cayman) Inc.98980AAB1	NOTE 1.500% 9/0	–	$8.77M	0.2%	–	–	–
TPICQTpi Composites, Inc	COM	4,610,003	$8.71M	0.2%	00.0%	Unchanged	History
Upstart Hldgs Inc91680MAB3	NOTE 0.250% 8/1	–	$8.64M	0.2%	–	–	–
Workiva Inc98139AAD7	NOTE 1.250% 8/1	–	$8.46M	0.2%	–	New	–
Cytokinetics Inc23282WAC4	NOTE 3.500% 7/0	–	$8.32M	0.2%	–	–	–
Chesapeake Energy Corp165167180	*W EXP 03/01/202	95,294	$8.24M	0.2%	+95,294	New	–
Advanced Energy Inds007973AE0	NOTE 2.500% 9/1	–	$7.79M	0.1%	–	–	–
Digitalocean Hldgs Inc25402DAB8	NOTE 12/0	–	$7.68M	0.1%	–	–	–
First Majestic Silver Corp32076VAD5	NOTE 0.375% 1/1	–	$7.68M	0.1%	–	–	–
Ziff Davis, Inc.48123VAE2	NOTE 1.750%11/0	–	$7.44M	0.1%	–	–	–
Tetra Tech Inc88162GAB9	DBCV 2.250% 8/1	–	$7.43M	0.1%	–	–	–
CONMED Corp207410AH4	NOTE 2.250% 6/1	–	$7.37M	0.1%	–	–	–
Integra Lifesciences Hldgs C457985AM1	NOTE 0.500% 8/1	–	$7.31M	0.1%	–	–	–
Snap Inc83304AAH9	NOTE 0.125% 3/0	–	$7.22M	0.1%	–	–	–
Sea Ltd81141RAG5	NOTE 0.250% 9/1	–	$7.20M	0.1%	–	–	–
VCSAVacasa, Inc.	COMMON STOCK	1,375,448	$6.74M	0.1%	00.0%	Unchanged	History
Teladoc Health, Inc.87918AAF2	NOTE 1.250% 6/0	–	$6.65M	0.1%	–	–	–
Wayfair Inc.94419LAM3	NOTE 0.625%10/0	–	$6.62M	0.1%	–	New	–
Envista Holdings Corp29415FAD6	NOTE 1.750% 8/1	–	$5.87M	0.1%	–	New	–
HDBHDFC Bank Ltd	SPONSORED ADS	89,697	$5.73M	0.1%	+35,657+66.0%	Added	History
Fluor Corp343412AJ1	NOTE 1.125% 8/1	–	$5.56M	0.1%	–	–	–
Mesa Labs Inc59064RAA7	NOTE 1.375% 8/1	–	$5.37M	0.1%	–	–	–
CPNGCoupang, Inc.	CL A	241,544	$5.31M	0.1%	+241,544	New	History
BATLBattalion Oil Corp	COM	3,009,912	$5.18M	0.1%	00.0%	Unchanged	History
Haemonetics Corp Mass405024AB6	NOTE 3/0	–	$5.06M	0.1%	–	–	–
Vail Resorts Inc91879QAN9	NOTE 1/0	–	$5.02M	0.1%	–	–	–
Nuvasive Inc670704AJ4	NOTE 0.375% 3/1	–	$4.87M	0.1%	–	–	–
Blackstone Mortgage Trust IN09257WAE0	NOTE 5.500% 3/1	–	$4.86M	0.1%	–	–	–

Options (5)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Oaktree Capital in Q4 2024
Security	Class	Puts	Calls
SPYSPDR S&P 500 ETF Trust	ETF	$187.5M	–
VSTVistra Corp.	Stock	$91.0M	–
TLNTalen Energy Corp	COM	–	$48.4M
PWRQuanta Services, Inc.	COM	$37.9M	–
LBTYALiberty Global Ltd.	COM CL A	–	$6.38M

Sold out since Q3 2024 (29)

Positions held at the end of Q3 2024 that are gone from this filing.

Positions of Oaktree Capital sold out since Q3 2024
Security	Class	Shares in Q3 2024	Value in Q3 2024	% of portfolio in Q3 2024	History
ITUBItau Unibanco Holding S.A.	SPON ADR REP PFD	9,076,407	$60.4M	1.0%	History
BBDBank Bradesco	SP ADR PFD NEW	14,114,711	$37.5M	0.6%	History
JOYYJOYY Inc.	ADS REPSTG COM A	882,590	$32.0M	0.5%	History
BABAAlibaba Group Holding Ltd	ADR	224,719	$23.8M	0.4%	History
HIMSHims & Hers Health, Inc.	Stock	666,962	$12.3M	0.2%	History
YPFYpf Sociedad Anonima	SPON ADR CL D	551,128	$11.7M	0.2%	History
XPXP Inc.	CL A	510,764	$9.16M	0.2%	History
Nutanix, Inc.67059NAH1	NOTE 0.250%10/0	–	$8.87M	0.1%	–
Live Nation Entertainment IN538034BA6	NOTE 3.125% 1/1	–	$6.05M	0.1%	–
Air Trans Svcs Group Inc00922RAD7	NOTE 3.875% 8/1	–	$5.97M	0.1%	–
Halozyme Therapeutics, Inc.40637HAF6	NOTE 1.000% 8/1	–	$5.69M	0.1%	–
Ford MTR Co Del345370CZ1	NOTE 3/1	–	$4.90M	0.1%	–
SHIFT4 PMTS Inc82452JAB5	NOTE 12/1	–	$3.60M	0.1%	–
Innoviva, Inc.45781MAD3	NOTE 2.125% 3/1	–	$2.99M	<0.1%	–
Perficient Inc71375UAF8	NOTE 0.125%11/1	–	$2.78M	<0.1%	–
Zscaler, Inc.98980GAB8	NOTE 0.125% 7/0	–	$2.63M	<0.1%	–
Seagate HDD Cayman81180WBL4	NOTE 3.500% 6/0	–	$2.42M	<0.1%	–
Atlantica Sustainable Infra04916EAB0	NOTE 4.000% 7/1	–	$2.36M	<0.1%	–
TechTarget, Inc.87874RAD2	NOTE 12/1	–	$2.00M	<0.1%	–
MIDDLEBY Corp596278AB7	NOTE 1.000% 9/0	–	$1.64M	<0.1%	–
Northern Oil & Gas, Inc.665531AJ8	NOTE 3.625% 4/1	–	$1.60M	<0.1%	–
Etsy Inc29786AAJ5	NOTE 0.125%10/0	–	$1.54M	<0.1%	–
Bilibili Inc.090040AF3	NOTE 0.500%12/0	–	$1.47M	<0.1%	–
Xometry, Inc.98423FAB5	NOTE 1.000% 2/0	–	$1.44M	<0.1%	–
Mannkind Corp56400PAQ5	NOTE 2.500% 3/0	–	$1.33M	<0.1%	–
BridgeBio Pharma, Inc.10806XAB8	NOTE 2.500% 3/1	–	$1.29M	<0.1%	–
Square Inc852234AF0	NOTE 0.125% 3/0	–	$1.23M	<0.1%	–
Solaredge Technologies, Inc.83417MAD6	NOTE 9/1	–	$634.0K	<0.1%	–
Pennymac Corp70932AAD5	NOTE 5.500%11/0	–	$575.8K	<0.1%	–