Oaktree Capital Management
13F Holdings and Portfolio Analysis
Howard Marks 2025 Q2 13F holdings, quarterly changes, portfolio value trend and position weight distribution.
Oaktree Capital Management Overview
Oaktree Capital Management held 177 stocks in 2025 Q2, with total market value around $5.81B.
Oaktree Capital Management's top five holdings in 2025 Q2: TORM PLC COMMON STOCK(TRMD) 11.72%, SPDR S&P 500 ETF TR(SPY) 10.84%, EXPAND ENERGY CORP(EXE) 10.18%, GARRETT MOTION INC COMMON STOCK(GTX) 6.67%, SITIO ROYALTIES CORP(STR) 4.09%.
- Portfolio Value
- $5.81B
- Current Holdings
- 177 stocks
- New / Increased
- 42 / 64
- Reduced / Exited
- 45 / 32
Current Holdings
| 1 | TORM PLC COMMON STOCKTRMD | 0.68 | 11.72% | 40.58 - | $16.80 | $28.16 +67.69% | $6.46 | 0.00 | 7.00 | +$0.88B+335.98% | Held |
| 2 | SPDR S&P 500 ETF TRSPY | 0.63 | 10.84% | 1.02 +200.00% | $617.85 | $754.20 +22.07% | $562.65 | +0.68 | 4.00 | +$0.20B+34.04% | Increased |
| 3 | EXPAND ENERGY CORPEXE | 0.59 | 10.18% | 5.06 -8.99% | $116.94 | - | $44.04 | -0.50 | 4.50 | +$0.37B+165.55% | Reduced |
| 4 | GARRETT MOTION INC COMMON STOCKGTX | 0.39 | 6.67% | 36.89 -16.31% | $10.51 | - | $7.60 | -7.19 | 4.25 | +$0.11B+38.23% | Reduced |
| 5 | SITIO ROYALTIES CORPSTR | 0.24 | 4.09% | 12.95 +0.08% | $18.38 | - | $28.84 | +0.01 | 2.75 | -$0.14B-36.27% | Increased |
| 6 | ANGLOGOLD ASHANTI PLC COMMON STOCKAU | 0.23 | 3.88% | 4.95 -9.46% | $45.57 | - | $16.61 | -0.52 | 2.00 | +$0.14B+174.27% | Reduced |
| 7 | Indivior COMMON STOCKIZQVF | 0.16 | 2.79% | 11.01 - | $14.74 | - | $9.85 | 0.00 | 1.50 | +$0.05B+49.66% | Held |
| 8 | SUNOPTA INC COMMON STOCKSTKL | 0.12 | 2.07% | 20.73 - | $5.80 | - | $9.78 | 0.00 | 8.50 | -$0.08B-40.72% | Held |
| 9 | RUNWAY GROWTH FINANCE CORP COMMON STOCKRWAY | 0.10 | 1.80% | 9.78 -9.28% | $10.73 | - | $12.86 | -1.00 | 3.75 | -$0.02B-16.56% | Reduced |
| 10 | CEMEX SAB DE CV COMMON STOCKCX | 0.10 | 1.77% | 14.84 -23.45% | $6.93 | - | $4.31 | -4.54 | 7.25 | +$0.04B+60.72% | Reduced |
| 11 | VISTA ENERGY SAB DE CV COMMON STOCKVIST | 0.10 | 1.70% | 2.06 -5.63% | $47.81 | - | $6.87 | -0.12 | 6.00 | +$0.08B+596.17% | Reduced |
| 12 | NOKIA OYJ COMMON STOCKNOK | 0.10 | 1.67% | 18.75 +0.00% | $5.18 | - | $5.27 | +0.00 | 0.50 | -$0.00B-1.71% | Increased |
| 13 | Freeport-McMoRan Inc.FCX | 0.09 | 1.49% | 2.00 -8.90% | $43.35 | $41.18 -5.01% | $35.02 | -0.20 | 4.00 | +$0.01B+17.58% | Reduced |
| 14 | LIBERTY GLOBAL LTD COM CL ALBTYA | 0.08 | 1.41% | 8.21 +13.99% | $10.01 | - | $16.98 | +1.01 | 1.25 | -$0.06B-41.06% | Increased |
| 15 | CBL & ASSOCIATES PROPERTIES INC COMMON STOCKCBL | 0.08 | 1.31% | 3.01 - | $25.39 | - | $32.04 | 0.00 | 3.75 | -$0.02B-20.74% | Held |
| 16 | ITAU UNIBANCO HOLDING SA COMMON STOCKITUB | 0.07 | 1.29% | 11.00 +58.54% | $6.79 | - | $5.98 | +4.06 | 0.50 | +$0.01B+13.62% | Increased |
| 17 | SS SPDR S&P HOMEBLDRS ETFXHB | 0.07 | 1.17% | 0.69 | $98.57 | - | $98.57 | +0.69 | 0.25 | $0.00B0.00% | New |
| 18 | BARRICK MINING CORPB | 0.07 | 1.13% | 3.16 | $20.82 | - | $20.82 | +3.16 | 0.25 | $0.00B0.00% | New |
| 19 | TRANSALTA CORP COMMON STOCKTAC | 0.07 | 1.13% | 6.09 +8.95% | $10.77 | - | $9.45 | +0.50 | 0.50 | +$0.01B+13.93% | Increased |
| 20 | KILROY REALTY CORP COMMON STOCKKRC | 0.06 | 1.09% | 1.85 - | $34.31 | - | $61.83 | 0.00 | 4.50 | -$0.05B-44.51% | Held |
| 21 | CALIFORNIA RESOURCES CORP COMMON STOCKCRC | 0.06 | 1.08% | 1.38 - | $45.67 | - | $52.47 | 0.00 | 1.00 | -$0.01B-12.96% | Held |
| 22 | PEBBLEBROOK HOTEL TRUST Convertible BondCUSIP 70509VAA8可转换债券 | 0.06 | 1.02% | 62.42 +44.70% | $0.95 | - | $0.93 | +19.28 | 2.00 | +$0.00B+2.22% | Increased |
| 23 | Grab Holdings LimitedGRAB | 0.06 | 1.00% | 11.57 +12.59% | $5.03 | $3.41 -32.21% | $4.59 | +1.29 | 0.50 | -$0.01B-25.64% | Increased |
| 24 | JETBLUE AIRWAYS CORP Convertible BondCUSIP 477143AP6可转换债券 | 0.06 | 0.99% | 59.98 +38.74% | $0.96 | - | $0.91 | +16.75 | 3.25 | +$0.00B+5.83% | Increased |
| 25 | TALEN ENERGY CORP COMTLN | 0.06 | 0.97% | 0.19 -67.52% | $290.77 | $379.64 +30.56% | $534.72 | -0.41 | 1.00 | -$0.03B-29.00% | Reduced |
Showing 1-25 of 177
"Holding Period (yrs)" is the latest uninterrupted holding duration, calculated by dividing continuous reported quarters by 4.
Cost basis is an estimate and can differ materially from the actual cost, especially in edge cases.
Cost basis estimate: from the latest uninterrupted holding period, new or increased shares are added to the cost pool at the report price; reductions remove shares at the then-average cost. Example: buy 100 shares at $10 in Q1 and add 50 shares at $16 in Q2, estimated cost basis is (100 x 10 + 50 x 16) / 150 = $12 per share.
Return shows estimated dollar return on top and percentage return below. It uses current price when available, otherwise report price.
Exited Holdings
Stocks no longer disclosed in the current 13F portfolio for 2025 Q2.
| 1 | BARRICK GOLD CORPORATIONGOLD | 2.52 | 0.50 | $17.85 | $19.44 | +$0.00B+8.90% |
| 2 | COHERUS BIOSCIENCES INCCHRS | 49.03 | 1.00 | $0.79 | $0.98 | +$0.01B+24.21% |
| 3 | H World Group LimitedHTHT | 1.23 | 1.50 | $34.19 | $33.92 | -$0.00B-0.79% |
| 4 | JD.com, Inc.JD | 0.96 | 2.00 | $67.27 | $32.64 | -$0.03B-51.48% |
| 5 | Petróleo Brasileiro S.A. - PetrobrasPBR | 2.66 | 5.25 | $7.83 | $14.34 | +$0.02B+83.03% |
| 6 | Bilibili Inc.BILI | 1.93 | 0.25 | $19.11 | $19.11 | $0.00B0.00% |
| 7 | BAIDU INC - SPON ADRBIDU | 0.20 | 0.25 | $92.03 | $92.03 | $0.00B0.00% |
| 8 | KINGSOFT CORP LTD COMMON STOCKKC | 1.09 | 0.25 | $14.36 | $14.36 | $0.00B0.00% |
| 9 | ONITY GROUP INC COMMON STOCKONIT | 0.41 | 4.00 | $32.88 | $32.32 | -$0.00B-1.70% |
| 10 | NORWEGIAN CRUISE LINE HOLDINGS LTDNCLH | 12.56 | 0.75 | $0.99 | $0.97 | -$0.00B-1.96% |
| 11 | PACIRA BIOSCIENCES INCPCRX | 7.56 | 1.00 | $0.96 | $0.99 | +$0.00B+2.91% |
| 12 | VACASA INCVCSA | 1.38 | 1.25 | $5.43 | $5.38 | -$0.00B-0.98% |
| 13 | DAQO NEW ENERGY CORPDQ | 0.34 | 0.75 | $20.37 | $15.17 | -$0.00B-25.53% |
| 14 | NATIONAL VISION HOLDINGS INCEYE | 6.27 | 0.75 | $0.99 | $0.99 | +$0.00B+0.90% |
| 15 | FIVE9 INCFIVN | 6.16 | 1.00 | $0.99 | $0.99 | +$0.00B+0.47% |
| 16 | TANDEM DIABETES CARE INCTNDM | 6.44 | 0.25 | $0.94 | $0.94 | $0.00B0.00% |
| 17 | LUMENTUM HOLDINGS INCLITE | 6.09 | 2.25 | $0.88 | $0.93 | +$0.00B+5.33% |
| 18 | SHOPIFY INC Convertible BondCUSIP 82509LAA5可转换债券 | 5.60 | 0.25 | $1.00 | $1.00 | $0.00B0.00% |
| 19 | ZTO EXPRESS CAYMAN INCZTO | 5.50 | 0.75 | $1.07 | $1.01 | -$0.00B-5.65% |
| 20 | WAYFAIR INC Convertible BondCUSIP 94419LAM3可转换债券 | 5.06 | 0.50 | $0.96 | $0.97 | +$0.00B+1.43% |
| 21 | EXPEDIA GROUP INCEXPE | 4.62 | 0.25 | $0.99 | $0.99 | $0.00B0.00% |
| 22 | SOLAREDGE TECHNOLOGIES INC Convertible BondCUSIP 83417MAD6可转换债券 | 2.72 | 0.25 | $0.97 | $0.97 | $0.00B0.00% |
| 23 | TELADOC HEALTH INCTDOC | 2.32 | 0.25 | $0.99 | $0.99 | $0.00B0.00% |
| 24 | SNAP INCSNAP | 2.04 | 0.25 | $0.99 | $0.99 | $0.00B0.00% |
| 25 | EZCORP INC Convertible BondCUSIP 302301AE6可转换债券 | 1.82 | 5.50 | $0.88 | $1.00 | +$0.00B+13.17% |
Showing 1-25 of 32
Exited holdings are stocks disclosed in the previous report period but no longer disclosed in the current 13F portfolio.
"Holding Period (yrs)" is the latest uninterrupted holding duration, calculated by dividing continuous reported quarters by 4.
Cost basis uses the same weighted cost-pool method as current holdings. Estimated exit price uses the current report period weighted report price when available, otherwise the previous report price; it does not represent the actual sale price.
Exit return shows estimated dollar return on top and percentage return below.
Portfolio Visuals
Track portfolio value, position weights and Top 10 history.