Oaktree Capital Management
Howard MarksLOS ANGELES, CAfiles as OAKTREE CAPITAL MANAGEMENT LP
$3.8bn in 51 US stocks at the end of 30 June 2026. The top 10 are 66.5% of the money. It changed about 18.1% of the portfolio this quarter.
Value
$3.8bn
Stocks
51
Top 10 share
66.5%
Turnover
18.1%
What changed this quarter
New
Bought for the first time this quarter.
- SeaSE1.6% of the fund
- ViasatVSAT1.5% of the fund
- MakeMyTripMMYT1.4% of the fund
- Matthews InternationalMATW1.4% of the fund
- QuantumQMCO0.6% of the fund
- Surgery PartnersSGRY0.4% of the fund
- DPC HoldingsDPC<0.1% of the fund
- Service Properties TrustSVC<0.1% of the fund
- NNNNBR<0.1% of the fund
- Office Properties Income TrustOPI<0.1% of the fund
Added
Bought more of a stock they already held.
- Telephone & Data SystemsTDS5.2% of the fund+23%
- Barrick MiningB3.1% of the fund+22%
- Oaktree Specialty LendingOCSL2.5% of the fund+325%
- Liberty Latin AmericaLILAK1.6% of the fund+31%
- YPF Sociedad AnonimaYPF1.2% of the fund+12%
- Simply Good FoodsSMPL0.4% of the fund+7%
- Bioxcel TherapeuticsBTAIQ<0.1% of the fund+472%
Cut
Sold some of their stake.
- TormTRMD13.9% of the fund-15%
- Garrett MotionGTX7.3% of the fund-48%
- Indivior PharmaceuticalsINDV6.7% of the fund-12%
- Core ScientificCORZ3.4% of the fund-47%
- TransaltaTAC1.1% of the fund-53%
- Array Digital InfrastructureAD0.7% of the fund-4%
- SharonAI HoldingsSHAZ0.6% of the fund-71%
- Magnachip SemiconductorMX0.2% of the fund-47%
- Telecom Argentina SATEO<0.1% of the fund-93%
- Cemex SAB de CVCX<0.1% of the fund-96%
- SunoptaSTKL<0.1% of the fund-100%
- AlvotechALVO<0.1% of the fund-59%
Sold out
Sold their entire stake.
- Petrobras - Petroleo Brasileiro SAPBR-100%
- NokiaNOK-100%
- CBL & Associates PropertiesCBL-100%
- Credo Technology Group HoldingCRDO-100%
- EcovystECVT-100%
- Optimum CommunicationsOPTU-100%
- Illumination AcquisitioILLUU-100%
- NRG EnergyNRG-100%
- Invesco Exch Traded FD TR IIBKLN-100%
- HDFC BankHDB-100%
- PDD HoldingsPDD-100%
Holdings
- Barrick MiningB
- Share
- 3.1%
- Value
- $118m
- Shares
- 3,206,087
+22%
- Itau Unibanco Hldg S AITUB
- Share
- 2.6%
- Value
- $98m
- Shares
- 11,977,665
Held
- Grupo Aeromexico SAB de CVAERO
- Share
- 1.9%
- Value
- $71m
- Shares
- 3,968,686
Held
- SeaSE
- Share
- 1.6%
- Value
- $61m
- Shares
- 635,443
New
- TransaltaTAC
- Share
- 1.1%
- Value
- $41m
- Shares
- 3,000,000
-53%
- Rice Acquisition Corp 3KRSP
- Share
- 0.7%
- Value
- $25m
- Shares
- 2,400,000
Held
- Ternium SATX
- Share
- 0.6%
- Value
- $24m
- Shares
- 572,324
Held
- Mayfair GoldMINE
- Share
- 0.3%
- Value
- $11m
- Shares
- 4,500,000
Held
- Blue Moon MetalsBMM
- Share
- 0.3%
- Value
- $11m
- Shares
- 1,685,000
Held
- DPC HoldingsDPC
- Share
- <0.1%
- Value
- $4m
- Shares
- 75,000
New
- Bioxcel TherapeuticsBTAIQ
- Share
- <0.1%
- Value
- $2m
- Shares
- 1,380,248
+472%
- AlvotechALVOW
- Share
- <0.1%
- Value
- $1m
- Shares
- 4,666,667
Held
- SunoptaSTKL
- Share
- <0.1%
- Value
- $406,498
- Shares
- 74,314
-100%
- Rice Acquisition Corp 3KRSP-WS
- Share
- <0.1%
- Value
- $395,999
- Shares
- 399,999
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| TormTRMD | 13.9% | $524m | 20,329,874 | -15% |
| Expand EnergyEXE | 12.6% | $478m | 5,237,477 | Held |
| Garrett MotionGTX | 7.3% | $275m | 7,594,816 | -48% |
| AngloGold AshantiAU | 6.8% | $257m | 3,179,092 | Held |
| Indivior PharmaceuticalsINDV | 6.7% | $251m | 6,127,212 | -12% |
| Telephone & Data SystemsTDS | 5.2% | $196m | 5,282,905 | +23% |
| Viper EnergyVNOM | 4.3% | $161m | 3,791,432 | Held |
| Core ScientificCORZ | 3.4% | $128m | 4,993,708 | -47% |
| Talen EnergyTLN | 3.4% | $127m | 331,117 | Held |
| Barrick MiningB | 3.1% | $118m | 3,206,087 | +22% |
| Itau Unibanco Hldg S AITUB | 2.6% | $98m | 11,977,665 | Held |
| Liberty GlobalLBTYA | 2.6% | $97m | 8,551,191 | Held |
| Oaktree Specialty LendingOCSL | 2.5% | $94m | 7,872,199 | +325% |
| Freeport-McMoRanFCX | 2.0% | $76m | 1,201,122 | Held |
| Grupo Aeromexico SAB de CVAERO | 1.9% | $71m | 3,968,686 | Held |
| Kilroy RealtyKRC | 1.8% | $69m | 1,850,011 | Held |
| SeaSE | 1.6% | $61m | 635,443 | New |
| Liberty Latin AmericaLILAK | 1.6% | $59m | 7,559,083 | +31% |
| Bausch & LombBLCO | 1.5% | $57m | 3,441,042 | Held |
| ViasatVSAT | 1.5% | $57m | 630,280 | New |
| MakeMyTripMMYT | 1.4% | $52m | 983,068 | New |
| Matthews InternationalMATW | 1.4% | $52m | 1,925,992 | New |
| XPXP | 1.3% | $51m | 3,116,809 | Held |
| YPF Sociedad AnonimaYPF | 1.2% | $45m | 991,346 | +12% |
| TransaltaTAC | 1.1% | $41m | 3,000,000 | -53% |
| Runway Growth FinanceRWAY | 1.0% | $39m | 7,029,667 | Held |
| EmbraerEMBJ | 0.7% | $28m | 439,706 | Held |
| Array Digital InfrastructureAD | 0.7% | $25m | 696,858 | -4% |
| Rice Acquisition Corp 3KRSP | 0.7% | $25m | 2,400,000 | Held |
| SharonAI HoldingsSHAZ | 0.6% | $25m | 289,456 | -71% |
| Ternium SATX | 0.6% | $24m | 572,324 | Held |
| QuantumQMCO | 0.6% | $22m | 2,011,678 | New |
| Simply Good FoodsSMPL | 0.4% | $16m | 1,203,889 | +7% |
| Surgery PartnersSGRY | 0.4% | $14m | 862,588 | New |
| Mayfair GoldMINE | 0.3% | $11m | 4,500,000 | Held |
| Blue Moon MetalsBMM | 0.3% | $11m | 1,685,000 | Held |
| SmartRentSMRT | 0.2% | $9m | 7,505,294 | Held |
| Magnachip SemiconductorMX | 0.2% | $7m | 1,500,000 | -47% |
| Liberty Latin AmericaLILA | 0.2% | $7m | 839,020 | Held |
| Battalion OilBATL | 0.1% | $4m | 3,009,912 | Held |
| DPC HoldingsDPC | <0.1% | $4m | 75,000 | New |
| Service Properties TrustSVC | <0.1% | $3m | 1,988,382 | New |
| Bioxcel TherapeuticsBTAIQ | <0.1% | $2m | 1,380,248 | +472% |
| NNNNBR | <0.1% | $2m | 510,943 | New |
| Telecom Argentina SATEO | <0.1% | $2m | 116,105 | -93% |
| Cemex SAB de CVCX | <0.1% | $1m | 100,000 | -96% |
| AlvotechALVOW | <0.1% | $1m | 4,666,667 | Held |
| SunoptaSTKL | <0.1% | $406,498 | 74,314 | -100% |
| Rice Acquisition Corp 3KRSP-WS | <0.1% | $395,999 | 399,999 | Held |
| AlvotechALVO | <0.1% | $361,553 | 97,982 | -59% |
| Office Properties Income TrustOPI | <0.1% | $184,467 | 10,851 | New |
Options (7)
- State STR Spdr S&P 500 ETF TSPY
- Type
- Put
- Value
- $1.0bn
- Contracts
- 1,355,000
- Invesco QQQ TRQQQ
- Type
- Put
- Value
- $652m
- Contracts
- 885,000
- Core ScientificCORZ
- Type
- Call
- Value
- $128m
- Contracts
- 5,000,000
- LyondellBasell IndustriesLYB
- Type
- Put
- Value
- $47m
- Contracts
- 900,000
- VisteonVC
- Type
- Put
- Value
- $40m
- Contracts
- 400,000
- Bitdeer Technologies GroupBTDR
- Type
- Call
- Value
- $12m
- Contracts
- 750,000
- Magnachip SemiconductorMX
- Type
- Call
- Value
- $5m
- Contracts
- 1,000,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| State STR Spdr S&P 500 ETF TSPY | Put | $1.0bn | 1,355,000 |
| Invesco QQQ TRQQQ | Put | $652m | 885,000 |
| Core ScientificCORZ | Call | $128m | 5,000,000 |
| LyondellBasell IndustriesLYB | Put | $47m | 900,000 |
| VisteonVC | Put | $40m | 400,000 |
| Bitdeer Technologies GroupBTDR | Call | $12m | 750,000 |
| Magnachip SemiconductorMX | Call | $5m | 1,000,000 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 4.3% since 30 June 2025.
Where the money is
Energy18.2%
Industrials16.1%
Materials14.0%
Media & telecom11.7%
Health care8.6%
Retail & consumer7.3%
Financial services5.4%
Utilities4.5%
Real estate1.9%
Technology1.7%
Everyday goods0.4%
Other10.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.