OAKTREE CAPITAL MANAGEMENT LP

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CIK 949509

13F portfolio (2026-Q1)

$4.3B

Positions

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

Top 5

47.4%

Top 10

65.0%

Effective N

15.2

HHI

0.066

This quarter

13 new · 0 exit →

By sector

Energy21.6%

Unclassified21.5%

Materials13.8%

Communication Services9.4%

Financials7.1%

Health Care6.2%

Consumer Discretionary6.2%

Utilities4.6%

Other9.7%

By market cap

Unknown45.1%

Mid ($2–10B)30.3%

Large ($10–200B)18.8%

Small ($300M–2B)5.1%

Micro (<$300M)0.7%

By region

North America67.6%

Other21.5%

Africa7.3%

Europe2.1%

Latin America1.4%

Asia-Pacific0.1%

By industry group GICS — finer than sector

Industry group	Weight	Names
Oil, Gas & Consumable Fuels	21.65%	5
Unclassified	21.54%	11
Metals & Mining	12.30%	5
Automobiles & Components	6.16%	1
Banks	5.69%	3
Diversified Telecommunication Services	5.41%	3
Pharmaceuticals & Biotechnology	4.95%	2
Utilities	4.57%	3
Media & Entertainment	3.97%	4
Equity Real Estate Investment Trusts (REITs)	3.13%	2
Communications Equipment	2.09%	1
Capital Markets	1.40%	1
Semiconductors & Semiconductor Equipment	1.36%	2
Airlines	1.29%	1
Health Care Equipment & Supplies	1.25%	1
Software & IT Services	0.79%	2
Construction Materials	0.73%	1
Chemicals	0.71%	1
Aerospace & Defense	0.62%	1
Food Products	0.38%	1
Commercial Services & Supplies	0.01%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	TRMD	TORM PLC	Unclassified	15.67%
2	EXE	EXPAND ENERGY Corp	Energy	13.35%
3	AU	ANGLOGOLD ASHANTI PLC	Materials	7.29%
4	GTX	Garrett Motion Inc.	Consumer Discretionary	6.16%
5	INDV	Indivior Pharmaceuticals, Inc.	Health Care	4.94%
6	TDS	TELEPHONE & DATA SYSTEMS INC /DE/	Communication Services	4.20%
7	VNOM	Viper Energy, Inc.	Energy	4.14%
8	CORZ	Core Scientific, Inc./tx	Financials	3.25%
9	STKL	SUNOPTA INC	Unclassified	3.12%
10	PBR	PETROBRAS - PETROLEO BRASILEIRO SA	Energy	2.93%

41/52 names classified · sector 78.5% of weight · industry 78.5% · mkt cap 54.9%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 53 quarters

FinancialsALLY, FBP, NMIH, MTG, BANR · other

UtilitiesVST, PCG, TLN, NRG, TAC · other

EnergyEXE, PBR, VIST, VNOM, CRC · other

MaterialsAU, CX, VALE, FCX, B · other

Information TechnologyTSM, VSH, INFY, NOK, SHLS · other

Consumer DiscretionaryGTX, JD, HTHT, YUMC, GM · other

IndustrialsBABA, WFRD, HTZ, TMHC, ONT · other

Real EstateCBL, KRC, COLD, VICI, GTY · other

Communication ServicesLBTYA, TV, TDS, UNIT, LILAK · other

Health CareBDX, INDV, BLCO, HIMS, BHC · other

Consumer StaplesABEV, MO, FMX, JBS, SMPL

UnclassifiedTRMD, SBLK, TRIBUNE MEDIA CO, STORE CAPITAL CORP, ADVANCEPIERRE FOODS HLDGS IN · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 78.5% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 32% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (11 classified)OAKTREE CAPITAL MANAGEMENT LP centroid (Small Core)

EnergyConsumer DiscretionaryHealth CareReal EstateMaterialsInformation TechnologyCommunication ServicesConsumer StaplesUtilities

Style box summary for OAKTREE CAPITAL MANAGEMENT LP: centroid Small Core. Heaviest cells: Mid Value 13.4%, Small Core 8.5%, Small Growth 6.2%.

Classified: 32.5% of book weight (11/52 names) · unclassified 67.5%: TRMD, AU, TDS, VNOM, CORZ, STKL, PBR, B, TLN, LBTYA +31 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 52 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	TRMDTORM PLC	23,839,575	$675M	15.7%	TRIM −10%
2	EXEEXPAND ENERGY CORPORATION	5,237,477	$575M	13.4%	ADD 3%
3	AUANGLOGOLD ASHANTI PLC	3,223,092	$314M	7.3%	TRIM −16%
4	GTXGARRETT MOTION INC	14,594,816	$265M	6.2%	TRIM −15%
5	INDVINDIVIOR PHARMACEUTICALS INC COM	6,984,102	$213M	4.9%	NEW
6	TDSTELEPHONE & DATA SYS INC	4,292,243	$181M	4.2%	ADD 16%
7	VNOMVIPER ENERGY INC	3,791,432	$178M	4.1%	TRIM −40%
8	CORZCORE SCIENTIFIC INC NEW	9,350,708	$140M	3.2%	ADD 12%
9	STKLSUNOPTA INC	20,726,126	$134M	3.1%	HOLD
10	PBRPETROLEO BRASILEIRO S A	6,089,413	$126M	2.9%	NEW
11	BBARRICK MNG CORP	2,624,859	$107M	2.5%	TRIM −12%
12	TLNTALEN ENERGY CORP	331,117	$106M	2.5%	HOLD
13	LBTYALIBERTY GLOBAL LTD	8,551,191	$103M	2.4%	HOLD
14	ITUBITAU UNIBANCO HLDG S A	12,188,995	$102M	2.4%	TRIM −12%
15	NOKNOKIA CORP	11,200,308	$90M	2.1%	TRIM −40%
16	TACTRANSALTA CORP	6,415,253	$84M	2.0%	HOLD
17	CBLCBL & ASSOC PPTYS INC	2,153,717	$83M	1.9%	TRIM −14%
18	FCXFREEPORT MCMORAN INC	1,220,122	$72M	1.7%	TRIM −12%
19	XPXP INC	3,172,009	$60M	1.4%	TRIM −4%
20	AEROGRUPO AEROMEXICO SAB DE CV	3,968,686	$56M	1.3%	ADD 5%
21	BLCOBAUSCH PLUS LOMB CORP	3,382,739	$54M	1.2%	HOLD
22	KRCKILROY RLTY CORP	1,850,011	$52M	1.2%	HOLD
23	LILAKLIBERTY LATIN AMERICA LTD	5,748,780	$51M	1.2%	HOLD
24	CRDOCREDO TECHNOLOGY GROUP HOLDI	539,000	$51M	1.2%	NEW
25	RWAYRUNWAY GROWTH FINANCE CORP	7,029,667	$48M	1.1%	HOLD
26	YPFYPF SOCIEDAD ANONIMA	886,465	$41M	1.0%	NEW
27	ADARRAY DIGITAL INFRASTRUCTURE	724,444	$33M	0.8%	HOLD
28	CXCEMEX SAB DE CV	2,763,083	$32M	0.7%	TRIM −52%
29	ECVTECOVYST INC	2,393,791	$31M	0.7%	TRIM −44%
30	EMBJEMBRAER S.A.	447,606	$27M	0.6%	NEW
31	KRSPRICE ACQUISITION CORP 3	2,400,000	$25M	0.6%	HOLD
32	TXTERNIUM SA	582,924	$23M	0.5%	TRIM −11%
33	SHAZSHARONAI HOLDINGS INC	1,000,000	$23M	0.5%	NEW
34	OCSLOAKTREE SPECIALTY LENDING CO	1,852,456	$21M	0.5%	HOLD
35	TEOTELECOM ARGENTINA SA	1,622,244	$19M	0.4%	TRIM −31%
36	SMPLSIMPLY GOOD FOODS CO	1,128,889	$16M	0.4%	NEW
37	MINEMAYFAIR GOLD CORP	4,500,000	$14M	0.3%	NEW
38	BATLBATTALION OIL CORP	3,009,912	$12M	0.3%	HOLD
39	SMRTSMARTRENT INC	7,505,294	$11M	0.3%	HOLD
40	BMMBLUE MOON METALS INC	1,685,000	$11M	0.3%	NEW
41	OPTUOPTIMUM COMMUNICATIONS INC	7,330,490	$10M	0.2%	TRIM −2%
42	MXMAGNACHIP SEMICONDUCTOR CORP	2,849,858	$8M	0.2%	HOLD
43	ILLUUILLUMINATION ACQUISITION CORP I	750,000	$7M	0.2%	NEW
44	LILALIBERTY LATIN AMERICA LTD	839,020	$7M	0.2%	HOLD
45	NRGNRG ENERGY INC	49,028	$7M	0.2%	NEW
46	BKLNINVESCO EXCH TRADED FD TR II	200,020	$4M	0.1%	NEW
47	HDBHDFC BANK LTD	114,261	$3M	0.1%	TRIM −12%
48	ALVOWALVOTECH SA	4,666,667	$1M	0.0%	HOLD
49	PDDPDD HOLDINGS INC	4,823	$492,814	0.0%	NEW
50	ALVOALVOTECH	240,038	$338,919	0.0%	TRIM −55%
51	BTAIBIOXCEL THERAPEUTICS INC	241,188	$323,193	0.0%	HOLD
52	KRSP.WSRICE ACQUISITION CORP 3	399,999	$319,999	0.0%	HOLD

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

TRMDTORM PLC

40.6M

26.4M

23.8M

$675M

EXEEXPAND ENERGY CORPORATION

6.9M

5.6M

5.1M

5.2M

$575M

AUANGLOGOLD ASHANTI PLC

5.6M

5.5M

4.9M

4.2M

3.8M

3.2M

$314M

GTXGARRETT MOTION INC

44.1M

36.9M

31.9M

17.1M

14.6M

$265M

INDVINDIVIOR PHARMACEUTICALS INC COM

—

7.0M

$213M

TDSTELEPHONE & DATA SYS INC

—

3.7M

4.3M

$181M

VNOMVIPER ENERGY INC

—

6.3M

3.8M

$178M

CORZCORE SCIENTIFIC INC NEW

—

6.4M

8.4M

9.4M

$140M

STKLSUNOPTA INC

20.7M

$134M

PBRPETROLEO BRASILEIRO S A

3.4M

2.7M

—

6.1M

$126M

BBARRICK MNG CORP

—

3.2M

3.3M

3.0M

2.6M

$107M

TLNTALEN ENERGY CORP

397K

320K

130K

291K

331K

$106M

LBTYALIBERTY GLOBAL LTD

7.2M

8.2M

8.6M

$103M

ITUBITAU UNIBANCO HLDG S A

—

6.9M

11.0M

12.7M

13.8M

12.2M

$102M

NOKNOKIA CORP

—

18.8M

11.2M

$90M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

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