Oaktree Capital Management
13F Holdings and Portfolio Analysis
Howard Marks 2025 Q3 13F holdings, quarterly changes, portfolio value trend and position weight distribution.
Oaktree Capital Management Overview
Oaktree Capital Management held 164 stocks in 2025 Q3, with total market value around $6.49B.
Oaktree Capital Management's top five holdings in 2025 Q3: TORM PLC COMMON STOCK(TRMD) 12.86%, EXPAND ENERGY CORP(EXE) 8.29%, GARRETT MOTION INC COMMON STOCK(GTX) 6.69%, ANGLOGOLD ASHANTI PLC COMMON STOCK(AU) 4.54%, VIPER ENERGY INC COMMON STOCK(VNOM) 3.70%.
- Portfolio Value
- $6.49B
- Current Holdings
- 164 stocks
- New / Increased
- 32 / 68
- Reduced / Exited
- 43 / 45
Current Holdings
| 1 | TORM PLC COMMON STOCKTRMD | 0.83 | 12.86% | 40.58 - | $20.57 | $28.16 +36.95% | $6.46 | 0.00 | 7.25 | +$0.88B+335.98% | Held |
| 2 | EXPAND ENERGY CORPEXE | 0.54 | 8.29% | 5.06 -0.00% | $106.24 | - | $44.04 | -0.00 | 4.75 | +$0.31B+141.25% | Reduced |
| 3 | GARRETT MOTION INC COMMON STOCKGTX | 0.43 | 6.69% | 31.89 -13.55% | $13.62 | - | $7.60 | -5.00 | 4.50 | +$0.19B+79.13% | Reduced |
| 4 | ANGLOGOLD ASHANTI PLC COMMON STOCKAU | 0.29 | 4.54% | 4.19 -15.41% | $70.33 | - | $16.61 | -0.76 | 2.25 | +$0.22B+323.29% | Reduced |
| 5 | VIPER ENERGY INC COMMON STOCKVNOM | 0.24 | 3.70% | 6.29 | $38.22 | - | $38.22 | +6.29 | 0.25 | $0.00B0.00% | New |
| 6 | SPDR S&P 500 ETF TRSPY | 0.22 | 3.39% | 0.33 -67.65% | $666.18 | $754.20 +13.21% | $562.65 | -0.69 | 4.25 | +$0.06B+34.04% | Reduced |
| 7 | TALEN ENERGY CORP COMTLN | 0.15 | 2.33% | 0.36 +82.78% | $425.38 | $379.64 -10.75% | $485.20 | +0.16 | 1.25 | -$0.04B-21.76% | Increased |
| 8 | TELEPHONE AND DATA SYSTEMS INC COMMON STOCKTDS | 0.14 | 2.23% | 3.69 | $39.24 | - | $39.24 | +3.69 | 0.25 | $0.00B0.00% | New |
| 9 | Oracle CorporationORCL | 0.14 | 2.17% | 0.50 | $281.24 | $299.00 +6.31% | $281.24 | +0.50 | 0.25 | +$0.01B+6.31% | New |
| 10 | SUNOPTA INC COMMON STOCKSTKL | 0.12 | 1.87% | 20.73 - | $5.86 | - | $9.78 | 0.00 | 8.75 | -$0.08B-40.11% | Held |
| 11 | CORE SCIENTIFIC INC COMMON STOCKCORZ | 0.11 | 1.77% | 6.40 | $17.94 | - | $17.94 | +6.40 | 0.25 | $0.00B0.00% | New |
| 12 | BARRICK MINING CORPB | 0.11 | 1.67% | 3.30 +4.57% | $32.77 | - | $21.34 | +0.14 | 0.50 | +$0.04B+53.54% | Increased |
| 13 | LIBERTY GLOBAL LTD COM CL ALBTYA | 0.10 | 1.51% | 8.55 +4.13% | $11.46 | - | $16.77 | +0.34 | 1.50 | -$0.05B-31.64% | Increased |
| 14 | FTAI AVIATION LTD COMMON STOCKFTAI | 0.10 | 1.50% | 0.59 | $166.86 | - | $166.86 | +0.59 | 0.25 | $0.00B0.00% | New |
| 15 | CEMEX SAB DE CV COMMON STOCKCX | 0.09 | 1.45% | 10.45 -29.59% | $8.99 | - | $6.60 | -4.39 | 7.50 | +$0.02B+36.17% | Reduced |
| 16 | ITAU UNIBANCO HOLDING SA COMMON STOCKITUB | 0.09 | 1.43% | 12.67 +15.10% | $7.34 | - | $6.16 | +1.66 | 0.75 | +$0.02B+19.25% | Increased |
| 17 | CBL & ASSOCIATES PROPERTIES INC COMMON STOCKCBL | 0.09 | 1.42% | 3.01 - | $30.58 | - | $32.04 | 0.00 | 4.00 | -$0.00B-4.54% | Held |
| 18 | NOKIA OYJ COMMON STOCKNOK | 0.09 | 1.39% | 18.75 - | $4.81 | - | $5.27 | 0.00 | 0.75 | -$0.01B-8.73% | Held |
| 19 | TRANSALTA CORP COMMON STOCKTAC | 0.09 | 1.35% | 6.42 +5.42% | $13.66 | - | $9.67 | +0.33 | 0.75 | +$0.03B+41.35% | Increased |
| 20 | RUNWAY GROWTH FINANCE CORP COMMON STOCKRWAY | 0.08 | 1.30% | 8.28 -15.34% | $10.16 | - | $12.86 | -1.50 | 4.00 | -$0.02B-20.99% | Reduced |
| 21 | KILROY REALTY CORP COMMON STOCKKRC | 0.08 | 1.20% | 1.85 - | $42.25 | - | $61.83 | 0.00 | 4.75 | -$0.04B-31.66% | Held |
| 22 | Grab Holdings LimitedGRAB | 0.07 | 1.12% | 12.09 +4.54% | $6.02 | $3.41 -43.36% | $4.65 | +0.53 | 0.75 | -$0.01B-26.64% | Increased |
| 23 | NU HLDGS LTD ORD SHS CL ANU | 0.07 | 1.11% | 4.52 | $16.01 | $11.64 -27.30% | $16.01 | +4.52 | 0.25 | -$0.02B-27.30% | New |
| 24 | JETBLUE AIRWAYS CORP Convertible BondCUSIP 477143AP6可转换债券 | 0.07 | 1.03% | 68.26 +13.81% | $0.98 | - | $0.92 | +8.28 | 3.50 | +$0.00B+6.64% | Increased |
| 25 | VISTA ENERGY SAB DE CV COMMON STOCKVIST | 0.06 | 0.98% | 1.84 -10.68% | $34.40 | - | $6.87 | -0.22 | 6.25 | +$0.05B+400.90% | Reduced |
Showing 1-25 of 164
"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 Q3.
| 1 | SITIO ROYALTIES CORPSTR | 12.95 | 2.75 | $28.84 | $18.38 | -$0.14B-36.27% |
| 2 | SS SPDR S&P HOMEBLDRS ETFXHB | 0.69 | 0.25 | $98.57 | $98.57 | $0.00B0.00% |
| 3 | ECOPETROL SAEC | 3.55 | 0.50 | $10.27 | $8.85 | -$0.01B-13.80% |
| 4 | KE Holdings Inc.BEKE | 1.51 | 0.50 | $19.69 | $19.00 | -$0.00B-3.50% |
| 5 | ECHOSTAR CORP Convertible BondCUSIP 278768AB2可转换债券 | 21.45 | 0.50 | $1.13 | $1.18 | +$0.00B+4.03% |
| 6 | WIX.COM LTD Convertible BondCUSIP 92940WAD1可转换债券 | 21.12 | 1.00 | $0.99 | $1.00 | +$0.00B+0.90% |
| 7 | OKTA INCOKTA | 20.24 | 1.00 | $0.99 | $0.99 | +$0.00B+0.58% |
| 8 | UNITI GROUP INC COMMON STOCKUNIT | 3.40 | 5.00 | $10.54 | $4.32 | -$0.02B-58.99% |
| 9 | ANYWHERE REAL ESTATE INCHOUS | 13.20 | 1.00 | $0.88 | $0.98 | +$0.00B+12.14% |
| 10 | BERRY CORP COMMON STOCKBRY | 3.70 | 6.50 | $11.17 | $2.77 | -$0.03B-75.19% |
| 11 | YPF SA COMMON STOCKYPF | 0.32 | 0.25 | $31.45 | $31.45 | $0.00B0.00% |
| 12 | DEXCOM INC Convertible BondCUSIP 252131AM9可转换债券 | 8.29 | 0.50 | $0.90 | $0.94 | +$0.00B+5.25% |
| 13 | H WORLD GROUP LTDHTHT | 6.88 | 2.00 | $1.11 | $1.06 | -$0.00B-4.83% |
| 14 | CYTOKINETICS INCCYTK | 6.69 | 1.25 | $1.21 | $1.07 | -$0.00B-12.01% |
| 15 | ALIBABA GROUP HOLDING LTDBABA | 5.40 | 0.25 | $1.28 | $1.28 | $0.00B0.00% |
| 16 | MARRIOTT VACATIONS WORLDWIDE CORPMAR | 6.75 | 0.25 | $0.97 | $0.97 | $0.00B0.00% |
| 17 | LUMENTUM HOLDINGS INCLITE | 4.00 | 0.50 | $1.37 | $1.54 | +$0.00B+12.48% |
| 18 | NICE LTD Convertible BondCUSIP 653656AB4可转换债券 | 6.12 | 0.50 | $0.99 | $0.99 | +$0.00B+0.40% |
| 19 | ON SEMICONDUCTOR CORPON | 6.38 | 1.50 | $0.90 | $0.93 | +$0.00B+2.97% |
| 20 | WORKIVA INCWK | 6.25 | 0.75 | $1.05 | $0.93 | -$0.00B-11.95% |
| 21 | INTEGRA LIFESCIENCES HOLDINGS CORP Convertible BondCUSIP 457985AM1可转换债券 | 5.76 | 1.00 | $0.96 | $0.99 | +$0.00B+3.23% |
| 22 | HAEMONETICS CORP Convertible BondCUSIP 405024AD2可转换债券 | 5.46 | 0.25 | $1.00 | $1.00 | $0.00B0.00% |
| 23 | MESA LABORATORIES INCMLAB | 5.44 | 2.25 | $0.92 | $0.99 | +$0.00B+8.11% |
| 24 | HUDSON TECHNOLOGIES INCHDSN | 0.56 | 0.25 | $8.12 | $8.12 | $0.00B0.00% |
| 25 | BANCO MACRO SA BANCO MACRO SA-ADRBMA | 0.06 | 1.50 | $48.77 | $70.21 | +$0.00B+43.96% |
Showing 1-25 of 45
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.