Oaktree Capital Management 13F, Q4 2023
Howard Marks · quarter ending 31 December 2023 · filed 13 February 2024 · SEC CIK 949509
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 4 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q4 2023
The 25 largest of 184 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2023 filing.
| Company | Ticker | Value | % of book | vs Q3 2023 |
|---|---|---|---|---|
| TORM PLC | $1.54B | 24.2% | -5% shares | |
| CHESAPEAKE ENERGY CORP | EXE | $538.59M | 8.5% | unchanged |
| GARRETT MOTION INC | GTX | $426.28M | 6.7% | unchanged |
| SITIO ROYALTIES CORP | $304.10M | 4.8% | unchanged | |
| RUNWAY GROWTH FINANCE CORP | RWAY | $208.13M | 3.3% | -22% shares |
| VALE SA | VALE | $149.08M | 2.3% | +8% shares |
| NMI HOLDINGS INC | NMIH | $138.99M | 2.2% | -4% shares |
| STAR BULK CARRIERS CORP | $129.86M | 2.0% | -62% shares | |
| FREEPORT-MCMORAN INC | FCX | $124.22M | 1.9% | +8% shares |
| BANCO BRADESCO SA | BBD | $120.16M | 1.9% | +8% shares |
| INFINERA CORP | $119.58M | 1.9% | unchanged | |
| SUNOPTA INC | STKL | $113.37M | 1.8% | unchanged |
| ANGLOGOLD ASHANTI PLC | $109.80M | 1.7% | +8% shares | |
| CEMEX SAB DE CV | CX | $108.41M | 1.7% | unchanged |
| CBL & ASSOCIATES PROPERTIES INC | CBL | $97.98M | 1.5% | unchanged |
| PETROLEO BRASILEIRO SA | PBR | $76.12M | 1.2% | -23% shares |
| KILROY REALTY CORP | KRC | $73.70M | 1.2% | unchanged |
| ICICI BANK LTD | IBN | $72.30M | 1.1% | +9% shares |
| EAGLE BULK SHIPPING INC | $71.49M | 1.1% | unchanged | |
| VISTA ENERGY SAB DE CV | VIST | $70.73M | 1.1% | -17% shares |
| ITAU UNIBANCO HOLDING SA | ITUB | $63.76M | 1.0% | +9% shares |
| INFOSYS LTD | INFY | $63.48M | 1.0% | -9% shares |
| JD.COM INC | JD | $62.78M | 1.0% | +27% shares |
| ALVOTECH SA | $62.58M | 1.0% | +8% shares | |
| FTAI AVIATION LTD | $54.15M | 0.8% | -36% shares |
What changed since Q3 2023
Against the Q3 2023 filing, Oaktree Capital Management opened 27 new positions, added to 52, trimmed 44, left 61 unchanged and exited 42. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- LIBERTY GLOBAL LTD$48.53M
- AMX$42.57M
- HTHT$36.48M
- NEW MOUNTAIN FINANCE CORP$14.82M
- W 1 08/15/26$12.18M
- BABA$9.32M
- ARBOR REALTY TRUST INC$9.09M
- BIOMARIN PHARMACEUTICAL INC$7.77M
and 19 more
Exited
- VSTwas $298.62B
- FYBRwas $43.83B
- DQwas $40.88B
- SQMwas $37.09B
- CREDICORP LTDwas $37.09B
- LIBERTY GLOBAL PLCwas $33.32B
- WESTERN DIGITAL CORPwas $21.32B
- DBDwas $11.19B
and 34 more
Other quarters
Source: SEC Form 13F-HR, accession 0000949509-24-000001, filed by OAKTREE CAPITAL MANAGEMENT LP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.