Howard Marks - Oaktree Capital Management 13F Activity & Position Changes (Q1 2026)

As of Mar 31, 2026, the Oaktree Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 15, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2026, the filing reported:

New Buys - Invesco Senior Loan ETF, Embraer S.A., Credo Technology, NRG Energy, Inc., Petroleo Brasileiro S.A.- Petro, and 3 more

Increases - , Core Scientific, Inc., Alvotech, Telephone and Data Systems, Inc

Reductions - Altice USA, Inc., AngloGold Ashanti, Barrick Gold, CBL & Associates Properties, In, Cemex, S.A.B. de C.V. Sponsored, and 11 more

Complete Exits - Bausch Health Companies Inc., KANZHUN LIMITED - American Depo, , California Resources Corporatio, FTAI Aviation, and 9 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2026	ATUS Altice USA, Inc.	Altice USA, Inc.	Sell	-169,510	-2.3%	$9.53M	7,330,490
Q1 2026	AU AngloGold Ashanti	AngloGold Ashanti	Sell	-624,899	-16.2%	$313.80M	3,223,092
Q1 2026	B Barrick Gold	Barrick Gold	Sell	-350,259	-11.8%	$107.07M	2,624,859
Q1 2026	BHC Bausch Health Companies Inc.	Bausch Health Companies Inc.	Sell - Position Exit	-1,270,000	-100.0%	$0.00	-
Q1 2026	BKLN Invesco Senior Loan ETF	Invesco Senior Loan ETF	Buy - Position Entry	+200,020	-	$4.08M	200,020
Q1 2026	BZ KANZHUN LIMITED - American Depo	KANZHUN LIMITED - American Depo	Sell - Position Exit	-1,523,231	-100.0%	$0.00	-
Q1 2026	CBL CBL & Associates Properties, In	CBL & Associates Properties, In	Sell	-363,859	-14.5%	$82.77M	2,153,717
Q1 2026	CHK		Buy	+175,114	+3.5%	$574.97M	5,237,477
Q1 2026	CHKEL		Sell - Position Exit	-95,294	-100.0%	$0.00	-
Q1 2026	CORZ Core Scientific, Inc.	Core Scientific, Inc.	Buy	+1,050,000	+12.6%	$139.90M	9,400,708
Q1 2026	CRC California Resources Corporatio	California Resources Corporatio	Sell - Position Exit	-694,502	-100.0%	$0.00	-
Q1 2026	CX Cemex, S.A.B. de C.V. Sponsored	Cemex, S.A.B. de C.V. Sponsored	Sell	-2,986,241	-51.9%	$31.61M	2,763,083
Q1 2026	ECVT Ecovyst Inc.	Ecovyst Inc.	Sell	-1,860,712	-43.7%	$30.78M	2,393,791
Q1 2026	ERJ Embraer S.A.	Embraer S.A.	Buy - Position Entry	+447,606	-	$26.56M	447,606
Q1 2026	FCX Freeport-McMoRan, Inc.	Freeport-McMoRan, Inc.	Sell	-169,931	-12.2%	$71.72M	1,220,122
Q1 2026	FTAI FTAI Aviation	FTAI Aviation	Sell - Position Exit	-517,328	-100.0%	$0.00	-
Q1 2026	G25457105 Credo Technology	Credo Technology	Buy - Position Entry	+539,000	-	$50.60M	539,000
Q1 2026	G4124C109 Grab	Grab	Sell - Position Exit	-11,207,699	-100.0%	$0.00	-
Q1 2026	G6683N103 Nu Holdings	Nu Holdings	Sell - Position Exit	-4,479,175	-100.0%	$0.00	-
Q1 2026	GTX Garrett Motion Inc.	Garrett Motion Inc.	Sell	-2,500,000	-14.6%	$265.19M	14,594,816
Q1 2026	HDB HDFC Bank Limited	HDFC Bank Limited	Sell	-16,180	-12.4%	$2.84M	114,261
Q1 2026	INDV Indivior	Indivior	Sell - Position Exit	-7,108,644	-100.0%	$0.00	-
Q1 2026	INFY Infosys Limited	Infosys Limited	Sell - Position Exit	-1,094,752	-100.0%	$0.00	-
Q1 2026	ITUB Itau Unibanco Banco Holding SA	Itau Unibanco Banco Holding SA	Sell	-1,633,752	-11.8%	$102.14M	12,188,995
Q1 2026	L01800108 Alvotech	Alvotech	Sell	-435,674	-81.6%	$336.08K	97,982
Q1 2026	L01800116 Alvotech	Alvotech	Buy	+2,841	+0.1%	$1.33M	4,669,508
Q1 2026	NOK Nokia Corporation Sponsored	Nokia Corporation Sponsored	Sell	-7,551,921	-40.3%	$90.05M	11,200,308
Q1 2026	NRG NRG Energy, Inc.	NRG Energy, Inc.	Buy - Position Entry	+49,028	-	$7.16M	49,028
Q1 2026	ONIT Onity Group Inc.	Onity Group Inc.	Sell - Position Exit	-390,835	-100.0%	$0.00	-
Q1 2026	PBR Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Buy - Position Entry	+6,089,413	-	$126.36M	6,089,413

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