Oaktree Capital Management

Managed by Howard Marks

Portfolio value: $7.21B
Holdings: 47
Top 5 weight: 40.81%
Latest filing: Q2 '26 Jun 30

Portfolio

Reported 13F holdings, largest positions first

137holdings

SPY 14.04%QQQ 9.04%TRMD 7.28%EXE 6.63%GTX 3.82%Other 59.19%

Company% PortfolioSharesValue

SPYPUTSPY14.04%1,355,000$1.01B

QQQPUTQQQ9.04%885,000$651.70M

TRMDTORM PLC7.28%20,330,000$524.30M EXEEXPAND ENERGY CORP6.63%5,237,000$477.60M GTXGARRETT MOTION INC3.82%7,595,000$275.20M AUANGLOGOLD ASHANTI PLC3.57%3,179,000$257.20M INDVINDIVIOR PHARMACEUTICALS INC3.49%6,127,000$251.40M TDSTELEPHONE & DATA SYSTEMS INC2.71%5,283,000$195.50M VNOMVIPER ENERGY INC2.23%3,791,000$160.80M CORZCLLCORE SCIENTIFIC INC1.78%5,000,000$128.00M CORZCORE SCIENTIFIC INC1.77%4,994,000$127.80M TLNTALEN ENERGY CORP1.77%331,000$127.20M BBARRICK MINING CORP1.63%3,206,000$117.80M ITUBPRFITAU UNIBANCO HOLDING SA1.36%11,978,000$97.90M LBTYALIBERTY GLOBAL LTD1.35%8,551,000$97.20M OCSLOAKTREE SPECIALTY LENDING CORP1.3%7,872,000$94.00M ETSYDBTETSY INC1.14%86,043,000$81.90M FCXFREEPORT-MCMORAN INC1.05%1,201,000$75.50M AEROGRUPO AEROMEXICO SAB DE CV0.99%3,969,000$71.40M KRCKILROY REALTY CORP0.96%1,850,000$69.30M LILALIBERTY LATIN AMERICA LTD0.91%8,398,000$65.50M PEBDBTPEBBLEBROOK HOTEL TRUST0.88%63,534,000$63.10M BMRNDBTBIOMARIN PHARMACEUTICAL INC0.87%64,025,000$62.40M SEDBTSEA LTD0.86%62,567,000$62.10M SESEA LTD0.85%635,000$60.90M ENPHDBTENPHASE ENERGY INC0.8%61,820,000$57.60M DXCMDBTDEXCOM INC0.79%61,148,000$57.10M BLCOBAUSCH & LOMB CORP0.79%3,441,000$57.00M VSATVIASAT INC0.79%630,000$56.60M ECHODBTECHOSTAR CORP0.78%18,000,000$56.30M VACDBTMARRIOTT VACATIONS WORLDWIDE CORP0.78%56,893,000$56.00M DKNGDBTDRAFTKINGS INC0.76%58,501,000$54.50M CNMDDBTCONMED CORP0.73%53,645,000$52.50M MMYTMAKEMYTRIP LTD0.73%983,000$52.40M RIOTDBTRIOT PLATFORMS INC0.73%26,000,000$52.30M TDOCDBTTELADOC HEALTH INC0.73%53,624,000$52.30M BSYDBTBENTLEY SYSTEMS INC0.72%54,264,000$52.20M MATWMATTHEWS INTERNATIONAL CORP0.72%1,926,000$51.80M XPXP INC0.7%3,117,000$50.70M UDBTUNITY SOFTWARE INC0.67%49,426,000$48.60M FIVNDBTFIVE9 INC0.66%53,306,000$47.40M LYBPUTLYONDELLBASELL INDUSTRIES NV0.66%900,000$47.40M FOURDBTSHIFT4 PAYMENTS INC0.64%48,444,000$46.30M YPFYPF SOCIEDAD ANONIMA0.63%991,000$45.10M SNAPDBTSNAP INC0.61%46,369,000$43.70M TACTRANSALTA CORP0.58%3,000,000$41.50M VCPUTVISTEON CORP0.55%400,000$39.70M RWAYRUNWAY GROWTH FINANCE CORP0.55%7,030,000$39.40M ENOVDBTENOVIS CORP0.52%39,207,000$37.80M AMPHDBTAMPHASTAR PHARMACEUTICALS INC0.52%40,880,000$37.20M AFRMDBTAFFIRM HOLDINGS INC0.48%34,815,000$34.30M ARRYDBTARRAY TECHNOLOGIES INC0.44%33,985,000$31.60M EMBJEMBRAER SA0.39%440,000$28.10M ADARRAY DIGITAL INFRASTRUCTURE INC0.35%697,000$25.30M KRSPRICE ACQUISITION CORP 30.35%2,400,000$25.20M SHAZSHARONAI HOLDINGS INC0.34%289,000$24.50M

SPB1DBTSPB10.34%23,452,000$24.50M

TXTERNIUM SA0.34%572,000$24.40M QMCOQUANTUM CORP0.31%2,012,000$22.10M WKDBTWORKIVA INC0.29%22,070,000$21.10M WGODBTWINNEBAGO INDUSTRIES INC0.26%20,074,000$18.70M XYZDBTBLOCK INC0.24%17,983,000$17.10M SMPLSIMPLY GOOD FOODS CO0.22%1,204,000$16.00M COGTDBTCOGENT BIOSCIENCES INC0.21%11,890,000$14.80M ZDDBTZIFF DAVIS INC0.2%14,726,000$14.60M SGRYSURGERY PARTNERS INC0.2%863,000$14.50M BXMTDBTBLACKSTONE MORTGAGE TRUST INC0.2%14,064,000$14.10M UPWKDBTUPWORK INC0.19%14,154,000$14.00M

RDFNDBTRDFN0.19%14,041,000$13.50M

STWDDBTSTARWOOD PROPERTY TRUST INC0.17%11,895,000$12.10M BTDRCLLBITDEER TECHNOLOGIES GROUP0.17%750,000$11.90M SNOWDBTSNOWFLAKE INC0.17%7,147,000$11.90M AVAVDBTAEROVIRONMENT INC0.16%11,799,000$11.30M NBRDBTNABORS INDUSTRIES LTD0.16%11,880,000$11.30M ITRIDBTITRON INC0.16%11,216,000$11.20M MINEMAYFAIR GOLD CORP0.15%4,500,000$11.10M ARWRDBTARROWHEAD PHARMACEUTICALS INC0.15%9,146,000$11.00M BMMBLUE MOON METALS INC0.15%1,685,000$10.70M NVSTDBTENVISTA HOLDINGS CORP0.14%10,206,000$10.30M NETDBTCLOUDFLARE INC0.14%8,050,000$10.20M RPDDBTRAPID7 INC0.13%10,061,000$9.70M FRPTDBTFRESHPET INC0.13%7,913,000$9.20M ATECDBTALPHATEC HOLDINGS INC0.13%9,177,000$9.10M SMRTSMARTRENT INC0.12%7,505,000$8.90M UBERDBTUBER TECHNOLOGIES INC0.12%7,400,000$8.60M UPSTDBTUPSTART HOLDINGS INC0.12%8,312,000$8.30M SITMDBTSITIME CORP0.11%7,300,000$8.10M DASHDBTDOORDASH INC0.11%8,089,000$8.00M RWTDBTREDWOOD TRUST INC0.11%7,881,000$8.00M JDDBTJDCOM INC0.11%8,065,000$7.90M ALRMDBTALARMCOM HOLDINGS INC0.11%8,171,000$7.80M PFSIDBTPENNYMAC FINANCIAL SERVICES INC0.1%7,101,000$7.30M CRNCDBTCERENCE INC0.1%7,887,000$7.20M CELCDBTCELCUITY INC0.1%6,250,000$7.10M MXMAGNACHIP SEMICONDUCTOR CORP0.1%1,500,000$7.10M CBRLDBTCRACKER BARREL OLD COUNTRY STORE INC0.1%6,708,000$6.90M PDDBTPAGERDUTY INC0.09%7,125,000$6.70M LCIIDBTLCI INDUSTRIES0.09%5,650,000$6.30M SRPTDBTSAREPTA THERAPEUTICS INC0.09%6,709,000$6.30M BILLDBTBILL HOLDINGS INC0.08%6,330,000$6.10M GPREDBTGREEN PLAINS INC0.07%4,998,000$4.90M GLADDBTGLADSTONE CAPITAL CORP0.07%4,999,000$4.80M FEDBTFIRSTENERGY CORP0.07%4,280,000$4.70M MSTRDBTSTRATEGY INC0.07%5,451,000$4.70M MXCLLMAGNACHIP SEMICONDUCTOR CORP0.07%1,000,000$4.70M RBRKDBTRUBRIK INC0.06%4,504,000$4.60M NOGDBTNORTHERN OIL & GAS INC0.06%4,614,000$4.40M BATLBATTALION OIL CORP0.05%3,010,000$3.90M DPCDPC HOLDINGS PLC0.05%75,000$3.70M RIVNDBTRIVIAN AUTOMOTIVE INC0.05%3,400,000$3.60M SVCSERVICE PROPERTIES TRUST0.05%1,988,000$3.40M TMDXDBTTRANSMEDICS GROUP INC0.05%3,131,000$3.40M WECDBTWEC ENERGY GROUP INC0.05%3,214,000$3.30M AKAMDBTAKAMAI TECHNOLOGIES INC0.04%2,631,000$3.10M

U10DDBTU10D0.04%2,874,000$2.80M

MGPIDBTMGP INGREDIENTS INC0.03%2,515,000$2.50M NTNXDBTNUTANIX INC0.03%2,200,000$2.50M LYVDBTLIVE NATION ENTERTAINMENT INC0.03%1,813,000$2.20M HAEDBTHAEMONETICS CORP0.03%2,090,000$2.10M DDOGDBTDATADOG INC0.03%1,400,000$2.00M

BTAIQBTAIQ0.03%1,380,000$1.90M

NNBRNN INC0.02%511,000$1.80M FLRDBTFLUOR CORP0.02%1,271,000$1.70M GRPNDBTGROUPON INC0.02%1,677,000$1.70M ONDBTON SEMICONDUCTOR CORP0.02%1,250,000$1.50M TEOTELECOM ARGENTINA SA0.02%116,000$1.50M RVMDDBTREVOLUTION MEDICINES INC0.02%1,150,000$1.40M CXCEMEX SAB DE CV0.02%100,000$1.20M ALVOWNTALVOTECH0.02%4,667,000$1.10M NEODBTNEOGENOMICS INC0.01%1,045,000$1.00M BABADBTALIBABA GROUP HOLDING LTD0.01%750,000$900.00K IMCRDBTIMMUNOCORE HOLDINGS PLC0.01%833,000$800.00K ALVOALVOTECH0.01%98,000$400.00K KRSPWNTRICE ACQUISITION CORP 30.01%400,000$400.00K

STKLSTKL0.01%74,000$400.00K

SHAKDBTSHAKE SHACK INC0%270,000$300.00K OPIOFFICE PROPERTIES INCOME TRUST0%11,000$200.00K

From the fund's Q2 '26 13F filingWhat is a 13F?

Activity

Buys and sells, quarter by quarter

Jun 30, 2026 filing - 155 moves · 84 buy-side · 71 sell-side

CompanyChangeValue

SPYPUTSPYNew$1.01B

QQQPUTQQQ55%$651.70M

TRMDTORM PLC15%$524.30M GTXGARRETT MOTION INC48%$275.20M AUANGLOGOLD ASHANTI PLC1%$257.20M INDVINDIVIOR PHARMACEUTICALS INC12%$251.40M TDSTELEPHONE & DATA SYSTEMS INC23%$195.50M

XOPPUTXOPSold$181.80M

CORZCLLCORE SCIENTIFIC INC43%$128.00M CORZCORE SCIENTIFIC INC47%$127.80M PBRPETROBRAS - PETROLEO BRASILEIRO SASold$126.40M BBARRICK MINING CORP22%$117.80M ITUBPRFITAU UNIBANCO HOLDING SA2%$97.90M JBLUDBTJETBLUE AIRWAYS CORPSold$94.80M OCSLOAKTREE SPECIALTY LENDING CORP325%$94.00M NOKNOKIA CORPSold$90.10M CBLCBL & ASSOCIATES PROPERTIES INCSold$82.80M ETSYDBTETSY INC41%$81.90M FCXFREEPORT-MCMORAN INC2%$75.50M LILALIBERTY LATIN AMERICA LTD27%$65.50M PEBDBTPEBBLEBROOK HOTEL TRUST10%$63.10M BMRNDBTBIOMARIN PHARMACEUTICAL INC14%$62.40M SEDBTSEA LTD31%$62.10M SESEA LTDNew$60.90M ENPHDBTENPHASE ENERGY INC9%$57.60M DXCMDBTDEXCOM INC51%$57.10M BLCOBAUSCH & LOMB CORP2%$57.00M VSATVIASAT INCNew$56.60M VACDBTMARRIOTT VACATIONS WORLDWIDE CORP9%$56.00M AWKDBTAMERICAN WATER WORKS COMPANY INCSold$55.80M DKNGDBTDRAFTKINGS INC32%$54.50M COINDBTCOINBASE GLOBAL INCSold$54.40M CNMDDBTCONMED CORP48%$52.50M MMYTMAKEMYTRIP LTDNew$52.40M RIOTDBTRIOT PLATFORMS INC67%$52.30M TDOCDBTTELADOC HEALTH INC62%$52.30M BSYDBTBENTLEY SYSTEMS INC15%$52.20M MATWMATTHEWS INTERNATIONAL CORPNew$51.80M XPXP INC2%$50.70M CRDOCREDO TECHNOLOGY GROUP HOLDING LTDSold$50.60M UDBTUNITY SOFTWARE INC38%$48.60M TLNCLLTALEN ENERGY CORPSold$47.90M FIVNDBTFIVE9 INC145%$47.40M LYBPUTLYONDELLBASELL INDUSTRIES NV80%$47.40M OKTADBTOKTA INCSold$46.70M FOURDBTSHIFT4 PAYMENTS INC78%$46.30M YPFYPF SOCIEDAD ANONIMA12%$45.10M SNAPDBTSNAP INC57%$43.70M TACTRANSALTA CORP53%$41.50M QTWODBTQ2 HOLDINGS INCSold$40.90M VCPUTVISTEON CORPNew$39.70M ENOVDBTENOVIS CORPNew$37.80M AMPHDBTAMPHASTAR PHARMACEUTICALS INC7%$37.20M PRGSDBTPROGRESS SOFTWARE CORPSold$36.10M AFRMDBTAFFIRM HOLDINGS INC202%$34.30M ARRYDBTARRAY TECHNOLOGIES INC9%$31.60M ECVTECOVYST INCSold$30.80M EMBJEMBRAER SA2%$28.10M ADARRAY DIGITAL INFRASTRUCTURE INC4%$25.30M SHAZSHARONAI HOLDINGS INC71%$24.50M

SPB1DBTSPB110%$24.50M

TXTERNIUM SA2%$24.40M QMCOQUANTUM CORPNew$22.10M WKDBTWORKIVA INCNew$21.10M WGODBTWINNEBAGO INDUSTRIES INC114%$18.70M XYZDBTBLOCK INC63%$17.10M SMPLSIMPLY GOOD FOODS CO7%$16.00M COGTDBTCOGENT BIOSCIENCES INC16%$14.80M ZDDBTZIFF DAVIS INC8%$14.60M SGRYSURGERY PARTNERS INCNew$14.50M SYNADBTSYNAPTICS INCSold$14.30M BXMTDBTBLACKSTONE MORTGAGE TRUST INC9%$14.10M UPWKDBTUPWORK INC13%$14.00M

RDFNDBTRDFN53%$13.50M

STWDDBTSTARWOOD PROPERTY TRUST INCNew$12.10M BTDRCLLBITDEER TECHNOLOGIES GROUPNew$11.90M SNOWDBTSNOWFLAKE INC347%$11.90M AVAVDBTAEROVIRONMENT INC14%$11.30M NBRDBTNABORS INDUSTRIES LTD26%$11.30M ITRIDBTITRON INC8%$11.20M ARWRDBTARROWHEAD PHARMACEUTICALS INC17%$11.00M NVSTDBTENVISTA HOLDINGS CORP36%$10.30M NETDBTCLOUDFLARE INCNew$10.20M RPDDBTRAPID7 INC503%$9.70M PENNDBTPENN ENTERTAINMENT INCSold$9.60M OPTUOPTIMUM COMMUNICATIONS INCSold$9.50M CALYDBTCALLAWAY GOLF COSold$9.20M FRPTDBTFRESHPET INCNew$9.20M ATECDBTALPHATEC HOLDINGS INCNew$9.10M RGENDBTREPLIGEN CORPSold$8.80M UBERDBTUBER TECHNOLOGIES INC270%$8.60M UPSTDBTUPSTART HOLDINGS INC71%$8.30M SITMDBTSITIME CORPNew$8.10M DASHDBTDOORDASH INCNew$8.00M RWTDBTREDWOOD TRUST INC4%$8.00M JDDBTJDCOM INC27%$7.90M TCOMDBTTRIPCOM GROUP LTDSold$7.90M ALRMDBTALARMCOM HOLDINGS INC711%$7.80M ILLUILLUMINATION ACQUISITION CORP ISold$7.40M PFSIDBTPENNYMAC FINANCIAL SERVICES INC79%$7.30M CRNCDBTCERENCE INC33%$7.20M NRGNRG ENERGY INCSold$7.20M CELCDBTCELCUITY INC942%$7.10M MXMAGNACHIP SEMICONDUCTOR CORP47%$7.10M CBRLDBTCRACKER BARREL OLD COUNTRY STORE INC74%$6.90M PDDBTPAGERDUTY INC20%$6.70M LCIIDBTLCI INDUSTRIES38%$6.30M SRPTDBTSAREPTA THERAPEUTICS INCNew$6.30M BILLDBTBILL HOLDINGS INC91%$6.10M GLADDBTGLADSTONE CAPITAL CORP163%$4.80M FEDBTFIRSTENERGY CORPNew$4.70M MSTRDBTSTRATEGY INC62%$4.70M MXCLLMAGNACHIP SEMICONDUCTOR CORPNew$4.70M RBRKDBTRUBRIK INCNew$4.60M NOGDBTNORTHERN OIL & GAS INC131%$4.40M

BKLNFNDBKLNSold$4.10M

PCGDBTPG&E CORPSold$4.10M BANDDBTBANDWIDTH INCSold$3.70M DPCDPC HOLDINGS PLCNew$3.70M SODBTSOUTHERN COSold$3.70M RIVNDBTRIVIAN AUTOMOTIVE INC162%$3.60M SVCSERVICE PROPERTIES TRUSTNew$3.40M TMDXDBTTRANSMEDICS GROUP INCNew$3.40M WECDBTWEC ENERGY GROUP INCNew$3.30M AKAMDBTAKAMAI TECHNOLOGIES INC51%$3.10M DOCNDBTDIGITALOCEAN HOLDINGS INCSold$2.90M JBTMDBTJBT MAREL CORPSold$2.90M HDBHDFC BANK LTDSold$2.80M

U10DDBTU10DNew$2.80M

MGPIDBTMGP INGREDIENTS INC60%$2.50M NTNXDBTNUTANIX INC71%$2.50M CAKEDBTCHEESECAKE FACTORY INCSold$2.10M HAEDBTHAEMONETICS CORP150%$2.10M JAZZDBTJAZZ PHARMACEUTICALS PLCSold$2.10M POSTDBTPOST HOLDINGS INCSold$2.10M DDOGDBTDATADOG INC82%$2.00M PSNDBTPARSONS CORPSold$2.00M

BTAIQBTAIQ473%$1.90M

MTHDBTMERITAGE HOMES CORPSold$1.80M NEEDBTNEXTERA ENERGY INCSold$1.80M NNBRNN INCNew$1.80M FLRDBTFLUOR CORP7%$1.70M GRPNDBTGROUPON INCNew$1.70M IRTCDBTIRHYTHM HOLDINGS INCSold$1.50M ONDBTON SEMICONDUCTOR CORPNew$1.50M TEOTELECOM ARGENTINA SA93%$1.50M RVMDDBTREVOLUTION MEDICINES INCNew$1.40M CXCEMEX SAB DE CV96%$1.20M NEODBTNEOGENOMICS INC81%$1.00M BABADBTALIBABA GROUP HOLDING LTDNew$900.00K PDDPDD HOLDINGS INCSold$500.00K ALVOALVOTECH59%$400.00K

STKLSTKL100%$400.00K

SHAKDBTSHAKE SHACK INCNew$300.00K OPIOFFICE PROPERTIES INCOME TRUSTNew$200.00K

Changes are share-count changes vs. the prior quarter

About this investor

Oaktree Capital Management is the credit-focused firm co-founded by Howard Marks, best known for distressed debt and a risk-first investment philosophy. Marks emphasizes understanding market cycles, controlling risk over chasing return and buying when others are fearful, ideas he shares in widely read memos. Discipline and downside awareness are central to the firm.

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