Howard Marks - Oaktree Capital Management 13F Activity & Position Changes (Q4 2014)

According to the SEC 13F filed on Aug 14, 2026, the Oaktree Capital Management portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2014. 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 Q4 2014, the filing reported:

New Buys - Banc of California, Inc., Baidu, Inc., Century Communities, Inc., Petroleo Brasileiro S.A.- Petro, Ternium S.A. Ternium S.A.

Increases - Ally Financial Inc., BRF S.A., Cemex, S.A.B. de C.V. Sponsored, ICICI Bank Limited, Itau Unibanco Banco Holding SA, and 5 more

Reductions - American International Group, I, Bank of America, Getty Realty Corporation, MGIC Investment Corporation, Nebius Group, and 3 more

Complete Exits - NetApp, Inc., Quad Graphics, Inc

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
Q4 2014	AIG American International Group, I	American International Group, I	Sell	-500,000	-91.9%	$2.47K	44,100
Q4 2014	ALLY Ally Financial Inc.	Ally Financial Inc.	Buy	+1,072,500	+13.0%	$220.34K	9,328,530
Q4 2014	BAC.PRN Bank of America	Bank of America	Sell	-9,400	-65.3%	$5.82K	5,000
Q4 2014	BANC Banc of California, Inc.	Banc of California, Inc.	Buy - Position Entry	+3,288,947	-	$37.72K	3,288,947
Q4 2014	BIDU Baidu, Inc.	Baidu, Inc.	Buy - Position Entry	+138,429	-	$31.56K	138,429
Q4 2014	BRFS BRF S.A.	BRF S.A.	Buy	+864,213	+60.5%	$53.53K	2,292,713
Q4 2014	CCS Century Communities, Inc.	Century Communities, Inc.	Buy - Position Entry	+1,022,980	-	$17.68K	1,022,980
Q4 2014	CX Cemex, S.A.B. de C.V. Sponsored	Cemex, S.A.B. de C.V. Sponsored	Buy	+442,400	+11.2%	$44.64K	4,381,037
Q4 2014	GTY Getty Realty Corporation	Getty Realty Corporation	Sell	-91,902	-6.5%	$24.23K	1,330,319
Q4 2014	IBN ICICI Bank Limited	ICICI Bank Limited	Buy	+3,519,553	+687.9%	$46.56K	4,031,168
Q4 2014	ITUB Itau Unibanco Banco Holding SA	Itau Unibanco Banco Holding SA	Buy	+2,131,269	+114.9%	$51.87K	3,986,869
Q4 2014	JD JD.com, Inc.	JD.com, Inc.	Buy	+232,400	+20.6%	$31.51K	1,361,550
Q4 2014	MTG MGIC Investment Corporation	MGIC Investment Corporation	Sell	-2,220,600	-17.2%	$99.77K	10,705,200
Q4 2014	NBIS Nebius Group	Nebius Group	Sell	-895,600	-93.2%	$1.18K	65,500
Q4 2014	NMIH NMI Holdings Inc	NMI Holdings Inc	Buy	+2,088,780	+348.0%	$24.55K	2,689,080
Q4 2014	NRG NRG Energy, Inc.	NRG Energy, Inc.	Sell	-612,000	-46.2%	$19.21K	713,000
Q4 2014	NTAP NetApp, Inc.	NetApp, Inc.	Sell - Position Exit	-490,000	-100.0%	$0.00	-
Q4 2014	PBR Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Buy	+242,854	+3.9%	$47.81K	6,548,845
Q4 2014	PBR-A Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Buy - Position Entry	+460,200	-	$3.49K	460,200
Q4 2014	QUAD Quad Graphics, Inc	Quad Graphics, Inc	Sell - Position Exit	-44,931	-100.0%	$0.00	-
Q4 2014	TSM Taiwan Semiconductor Manufactur	Taiwan Semiconductor Manufactur	Buy	+472,300	+10.7%	$109.39K	4,887,784
Q4 2014	TV Grupo Televisa S.A.B.	Grupo Televisa S.A.B.	Buy	+119,300	+11.5%	$39.53K	1,160,710
Q4 2014	TX Ternium S.A. Ternium S.A.	Ternium S.A. Ternium S.A.	Buy - Position Entry	+121,200	-	$2.14K	121,200
Q4 2014	VSH Vishay Intertechnology, Inc.	Vishay Intertechnology, Inc.	Sell	-575,000	-20.9%	$30.78K	2,175,000
Q4 2014	WFC-L Wells Fargo	Wells Fargo	Sell	-7,592	-48.2%	$9.91K	8,158