Howard Marks - Oaktree Capital Management Portfolio Holdings
As of Sep 30, 2025, the Oaktree Capital Management portfolio holdings is valued at approximately $5,997,266,332.00 featuring 54 publicly traded holdings. This in-depth profile highlights the top investments led by TORM PLC (TRMD), EXPAND ENERGY CORP (CHK), GARRETT MOTION INC (GTX), ANGLOGOLD ASHANTI PLC (AU), and others based on the company's latest SEC filings reported on Nov 13, 2025. Explore insights into portfolio composition, sector allocation, and recent trade activity.
Oaktree Capital Management's stock portfolio spans 54 holdings across 12 sectors, with a total market value of $5,997,266,332.00. The Other sector represents the largest allocation, while the top holdings account for nearly 63% of the total portfolio value. TORM PLC remains the single largest position at 13.9% of all equity investments.
Complete Holdings
Showing 54 of 54 holdings.
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| # | Company | Symbol | Sector | Portfolio % | Shares | Change (Shares) | Change % | Value |
|---|---|---|---|---|---|---|---|---|
| 1 | TORM PLC | TRMD | Other | 13.92% | 40,581,120 | - | - | $834,580,551.00 |
| 2 | EXPAND ENERGY CORP | CHK | Energy | 8.97% | 5,062,363 | -1 | -0.00% | $537,825,445.00 |
| 3 | GARRETT MOTION INC | GTX | Consumer Cyclical | 7.24% | 31,894,816 | -5,000,000 | -13.55% | $434,407,393.00 |
| 4 | ANGLOGOLD ASHANTI PLC | AU | Other | 4.91% | 4,185,261 | -762,476 | -15.41% | $294,349,406.00 |
| 5 | TELEPHONE AND DATA SYSTEMS INC | TDS | Communication Services | 2.41% | 3,688,386 | +3,688,386 | +100.00% | $144,732,266.00 |
| 6 | TALEN ENERGY CORP | TLN | Other | 2.06% | 291,117 | +161,288 | +124.23% | $123,835,349.00 |
| 7 | SUNOPTA INC | STKL | Consumer Defensive | 2.02% | 20,726,126 | - | - | $121,426,116.00 |
| 8 | CORE SCIENTIFIC INC | CORZ | Technology | 1.91% | 6,400,708 | +6,400,708 | +100.00% | $114,828,701.00 |
| 9 | BARRICK MINING CORP | B | Other | 1.80% | 3,302,086 | +144,400 | +4.57% | $108,209,358.00 |
| 10 | LIBERTY GLOBAL LTD | LBTYA | Other | 1.63% | 8,551,191 | +339,000 | +4.13% | $97,996,648.00 |
| 11 | FTAI AVIATION LTD | FTAI | Other | 1.63% | 585,175 | -581,886 | -49.86% | $97,642,300.00 |
| 12 | CEMEX SAB DE CV | CX | Basic Materials | 1.57% | 10,448,824 | -4,390,208 | -29.59% | $93,934,927.00 |
| 13 | ITAU UNIBANCO HOLDING SA | ITUB | Financial Services | 1.55% | 12,665,801 | +1,661,307 | +15.10% | $92,966,986.00 |
| 14 | CBL & ASSOCIATES PROPERTIES INC | CBL | Real Estate | 1.53% | 3,005,126 | - | - | $91,896,783.00 |
| 15 | NOKIA OYJ | NOK | Technology | 1.50% | 18,752,229 | - | - | $90,198,221.00 |
| 16 | TRANSALTA CORP | TAC | Utilities | 1.46% | 6,415,253 | +330,000 | +5.42% | $87,648,382.00 |
| 17 | RUNWAY GROWTH FINANCE CORP | RWAY | Financial Services | 1.40% | 8,279,667 | -1,500,000 | -15.34% | $84,121,427.00 |
| 18 | KILROY REALTY CORP | KRC | Real Estate | 1.30% | 1,850,011 | - | - | $78,162,964.00 |
| 19 | GRAB HOLDINGS LTD | G4124C109 | Other | 1.21% | 12,094,495 | +525,200 | +4.54% | $72,808,859.00 |
| 20 | NU HOLDINGS LTD/CAYMAN ISLANDS | G6683N103 | Other | 1.21% | 4,518,884 | +4,518,884 | +100.00% | $72,347,332.00 |
| 21 | VISTA ENERGY SAB DE CV | VIST | Energy | 1.06% | 1,841,319 | -220,242 | -10.68% | $63,341,373.00 |
| 22 | FREEPORT-MCMORAN INC | FCX | Basic Materials | 0.98% | 1,504,865 | -491,210 | -24.61% | $59,020,805.00 |
| 23 | LIBERTY LATIN AMERICA LTD | LILAK | Communication Services | 0.94% | 6,669,823 | +4,341,307 | +186.44% | $56,293,306.00 |
| 24 | FULL TRUCK ALLIANCE CO LTD | YMM | Technology | 0.82% | 3,797,697 | +1,955,360 | +106.13% | $49,256,130.00 |
| 25 | BAUSCH LOMB CORP | BLCO | Healthcare | 0.82% | 3,245,439 | +724,194 | +28.72% | $48,908,765.00 |
| 26 | ECHOSTAR CORP | SATS | Technology | 0.76% | 600,000 | +600,000 | +100.00% | $45,816,000.00 |
| 27 | KANZHUN LTD | BZ | Communication Services | 0.64% | 1,643,572 | +72,300 | +4.60% | $38,393,841.00 |
| 28 | XP INC | XP | Other | 0.64% | 2,032,877 | +1,522,113 | +298.01% | $38,197,758.00 |
| 29 | CALIFORNIA RESOURCES CORP | CRC | Energy | 0.62% | 694,502 | -682,251 | -49.56% | $36,933,616.00 |
| 30 | STAR BULK CARRIERS CORP | Y8162K204 | Other | 0.61% | 1,962,892 | -1,267,635 | -39.24% | $36,490,162.00 |
| 31 | ARRAY DIGITAL INFRASTRUCTURE INC | USM | Communication Services | 0.60% | 724,444 | +724,444 | +100.00% | $36,229,444.00 |
| 32 | TERNIUM SA | TX | Basic Materials | 0.52% | 897,509 | -22,200 | -2.41% | $31,170,487.00 |
| 33 | NABORS INDUSTRIES LTD | NBR | Other | 0.50% | 737,112 | +737,112 | +100.00% | $30,125,767.00 |
| 34 | SEA LTD | SE | Consumer Cyclical | 0.42% | 141,368 | +57,855 | +69.28% | $25,266,702.00 |
| 35 | ECOVYST INC | ECVT | Basic Materials | 0.42% | 2,859,022 | +2,859,022 | +100.00% | $25,045,032.00 |
| 36 | OAKTREE SPECIALTY LENDING CORP | OCSL | Financial Services | 0.40% | 1,852,456 | - | - | $24,174,550.00 |
| 37 | JBS NV | N4732M103 | Other | 0.39% | 1,580,400 | +1,341,790 | +562.34% | $23,595,371.00 |
| 38 | VALE SA | VALE | Basic Materials | 0.37% | 2,033,706 | - | - | $22,086,047.00 |
| 39 | TELECOM ARGENTINA SA | TEO | Communication Services | 0.32% | 2,629,483 | -14,780 | -0.56% | $19,116,341.00 |
| 40 | ALTICE USA INC | ATUS | Communication Services | 0.30% | 7,500,000 | - | - | $18,075,000.00 |
| 41 | ALVOTECH SA | L01800108 | Other | 0.21% | 1,563,676 | - | - | $12,806,506.00 |
| 42 | Indivior | INDV | Other | 0.18% | 257,785,398 | +246,776,273 | +2241.56% | $10,692,053.00 |
| 43 | SMARTRENT INC | SMRT | Technology | 0.18% | 7,505,294 | - | - | $10,582,465.00 |
| 44 | EXPAND ENERGY CORP | CHKEL | Other | 0.15% | 95,294 | - | - | $9,215,892.00 |
| 45 | MAGNACHIP SEMICONDUCTOR CORP | MX | Technology | 0.15% | 2,849,858 | - | - | $8,920,055.00 |
| 46 | ACRES COMMERCIAL REALTY CORP | ACR | Real Estate | 0.14% | 391,380 | +391,380 | +100.00% | $8,281,600.00 |
| 47 | BAUSCH HEALTH COS INC | BHC | Healthcare | 0.14% | 1,270,000 | - | - | $8,191,500.00 |
| 48 | ALVOTECH SA | L01800116 | Other | 0.12% | 4,666,667 | - | - | $7,087,733.00 |
| 49 | LIBERTY LATIN AMERICA LTD | LILA | Communication Services | 0.12% | 846,474 | +846,474 | +100.00% | $7,017,269.00 |
| 50 | HDFC BANK LTD | HDB | Financial Services | 0.09% | 151,206 | +66,363 | +78.22% | $5,165,196.00 |
| 51 | BATTALION OIL CORP | BATL | Energy | 0.06% | 3,013,823 | +3,911 | +0.13% | $3,646,725.00 |
| 52 | TRANSPORTADORA DE GAS DEL SUR SA | TGS | Energy | 0.02% | 56,522 | -81,108 | -58.93% | $1,188,657.00 |
| 53 | BIOXCEL THERAPEUTICS INC | BTAI | Other | 0.01% | 241,188 | - | - | $617,443.00 |
| 54 | TPI COMPOSITES INC | TPIC | Industrials | 0.00% | 4,610,003 | - | - | $142,910.00 |
Holdings by Sector
| Sector | Allocation | Value |
|---|---|---|
| Other | 41.61% | $1,870,598,488.00 |
| Energy | 14.30% | $642,935,816.00 |
| Consumer Cyclical | 10.23% | $459,674,095.00 |
| Communication Services | 7.12% | $319,857,467.00 |
| Technology | 7.11% | $319,601,572.00 |
| Basic Materials | 5.14% | $231,257,298.00 |
| Financial Services | 4.59% | $206,428,159.00 |
| Real Estate | 3.97% | $178,341,347.00 |
| Consumer Defensive | 2.70% | $121,426,116.00 |
| Utilities | 1.95% | $87,648,382.00 |
| Healthcare | 1.27% | $57,100,265.00 |
| Industrials | 0.00% | $142,910.00 |
Portfolio insights
As of Sep 30, 2025, the Oaktree Capital Management portfolio holds 54 securities valued at $4,495,011,915.00. The Other sector represents the largest allocation, while the top positions account for a significant portion of the total portfolio weight.