Oaktree Capital Management 13F, Q4 2024
Howard Marks · quarter ending 31 December 2024 · filed 12 February 2025 · SEC CIK 949509
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 5 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 2024
The 25 largest of 160 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2024 filing.
| Company | Ticker | Value | % of book | vs Q3 2024 |
|---|---|---|---|---|
| TORM PLC | $779.89M | 14.8% | unchanged | |
| EXPAND ENERGY CORP | EXE | $690.61M | 13.1% | unchanged |
| GARRETT MOTION INC | GTX | $398.07M | 7.6% | unchanged |
| SITIO ROYALTIES CORP | $248.10M | 4.7% | unchanged | |
| INFINERA CORP | $165.40M | 3.1% | unchanged | |
| SUNOPTA INC | STKL | $159.43M | 3.0% | unchanged |
| ANGLOGOLD ASHANTI PLC | $128.27M | 2.4% | unchanged | |
| VISTA ENERGY SAB DE CV | VIST | $124.10M | 2.4% | -8% shares |
| RUNWAY GROWTH FINANCE CORP | RWAY | $118.15M | 2.2% | unchanged |
| INDIVIOR PLC | $112.00M | 2.1% | -8% shares | |
| CALIFORNIA RESOURCES CORP | CRC | $106.21M | 2.0% | unchanged |
| LIBERTY GLOBAL LTD | $91.93M | 1.8% | +21% shares | |
| CBL & ASSOCIATES PROPERTIES INC | CBL | $88.38M | 1.7% | -25% shares |
| CEMEX SAB DE CV | CX | $82.28M | 1.6% | unchanged |
| STAR BULK CARRIERS CORP | $80.34M | 1.5% | -6% shares | |
| TALEN ENERGY CORP | TLN | $79.91M | 1.5% | -43% shares |
| KILROY REALTY CORP | KRC | $74.83M | 1.4% | unchanged |
| FREEPORT-MCMORAN INC | FCX | $67.14M | 1.3% | -27% shares |
| VALE SA | VALE | $63.79M | 1.2% | -12% shares |
| SUNRISE COMMUNICATIONS AG/OLD | $62.07M | 1.2% | new | |
| TRIP.COM GROUP LTD | TCOM | $49.24M | 0.9% | -9% shares |
| JD.COM INC | JD | $48.88M | 0.9% | -20% shares |
| COHERUS BIOSCIENCES INC | $47.75M | 0.9% | +7% shares | |
| SUNNOVA ENERGY INTERNATIONAL INC | $44.46M | 0.8% | +26% shares | |
| PETROLEO BRASILEIRO SA | PBR | $43.12M | 0.8% | -18% shares |
What changed since Q3 2024
Against the Q3 2024 filing, Oaktree Capital Management opened 23 new positions, added to 39, trimmed 57, left 41 unchanged and exited 29. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- SUNRISE COMMUNICATIONS AG/OLD$62.07M
- SUNNOVA ENERGY INTERNATIONAL INC$18.18M
- PCG 4.25 12/01/27$16.64M
- BARRICK GOLD CORP$15.73M
- UBER 0.875 12/01/28 2028$11.66M
- FOUR 0.5 08/01/27$10.70M
- WK 1.25 08/15/28$8.46M
- EXEEL$8.24M
and 15 more
Exited
- ITUBwas $60.36M
- BBDwas $37.55M
- JOYYwas $31.99M
- BABAwas $23.85M
- HIMSwas $12.29M
- YPFwas $11.69M
- XP INCwas $9.16M
- NTNX 0.25 10/01/27was $8.87M
and 21 more
Added to
- LIBERTY GLOBAL LTD+21%$91.93M
- COHERUS BIOSCIENCES INC+7%$47.75M
- SUNNOVA ENERGY INTERNATIONAL INC+26%$44.46M
- CABO 0 03/15/26+11%$43.05M
- PEB 1.75 12/15/26+88%$38.40M
- JBLU 0.5 04/01/26+133%$37.25M
- NTES+72%$35.66M
- GH 0 11/15/27+79%$32.47M
and 31 more
Other quarters
Source: SEC Form 13F-HR, accession 0001790787-25-000003, 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.