Howard Marks - Oaktree Capital Management 13F Activity & Position Changes (Q4 2019)

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, 2019. 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 2019, the filing reported:

New Buys - Alibaba Group Holding Limited, Banco Bradesco Sa

Increases - Afya, Azul S.A., BRF S.A., Berry Corporation (bry), Cemex, S.A.B. de C.V. Sponsored, and 11 more

Reductions - Amplify Energy Corp., Bank of America, Farmland Partners Inc., ICICI Bank Limited, Magnachip Semiconductor Corpora, and 3 more

Complete Exits - Infosys Limited, Nebius Group, Petroleo Brasileiro S.A.- Petro, Pacific Gas & Electric Co., SandRidge Energy, 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 2019	AFYA Afya	Afya	Buy	+35,359	+5.1%	$19.88K	732,913
Q4 2019	AMPY Amplify Energy Corp.	Amplify Energy Corp.	Sell	-709	-0.2%	$2.71K	410,041
Q4 2019	AZUL Azul S.A.	Azul S.A.	Buy	+57,200	+5.5%	$46.81K	1,093,638
Q4 2019	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Buy - Position Entry	+161,982	-	$34.36K	161,982
Q4 2019	BAC.PRN Bank of America	Bank of America	Sell	-499	-25.5%	$2.12K	1,461
Q4 2019	BBD Banco Bradesco Sa	Banco Bradesco Sa	Buy - Position Entry	+5,767,107	-	$51.62K	5,767,107
Q4 2019	BRFS BRF S.A.	BRF S.A.	Buy	+208,957	+3.8%	$49.19K	5,653,531
Q4 2019	BRY Berry Corporation (bry)	Berry Corporation (bry)	Buy	+21,596	+0.2%	$121.77K	12,913,313
Q4 2019	CX Cemex, S.A.B. de C.V. Sponsored	Cemex, S.A.B. de C.V. Sponsored	Buy	+1,046,467	+13.7%	$32.73K	8,657,927
Q4 2019	FPI Farmland Partners Inc.	Farmland Partners Inc.	Sell	-70,000	-35.0%	$881.00	130,000
Q4 2019	HUYA HUYA Inc.	HUYA Inc.	Buy	+39,100	+5.5%	$13.48K	751,125
Q4 2019	IBN ICICI Bank Limited	ICICI Bank Limited	Sell	-2,556,504	-30.6%	$87.66K	5,808,890
Q4 2019	INDA Ishares MSCI India ETF	Ishares MSCI India ETF	Buy	+22,100	+34.5%	$3.02K	86,100
Q4 2019	INFY Infosys Limited	Infosys Limited	Sell - Position Exit	-3,587,835	-100.0%	$0.00	-
Q4 2019	ITUB Itau Unibanco Banco Holding SA	Itau Unibanco Banco Holding SA	Buy	+655,114	+5.6%	$112.72K	12,319,157
Q4 2019	LOMA Loma Negra Compania Industrial	Loma Negra Compania Industrial	Buy	+40,000	+18.9%	$1.97K	252,000
Q4 2019	MX Magnachip Semiconductor Corpora	Magnachip Semiconductor Corpora	Sell	-79,271	-2.4%	$36.81K	3,170,729
Q4 2019	NBIS Nebius Group	Nebius Group	Sell - Position Exit	-488,857	-100.0%	$0.00	-
Q4 2019	NMIH NMI Holdings Inc	NMI Holdings Inc	Sell	-575,911	-11.6%	$145.99K	4,400,000
Q4 2019	PAM Pampa Energia S.A.	Pampa Energia S.A.	Buy	+161,000	+27.2%	$12.39K	754,000
Q4 2019	PBR Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Sell - Position Exit	-2,144,121	-100.0%	$0.00	-
Q4 2019	PBR-A Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Buy	+302,587	+5.5%	$85.92K	5,758,517
Q4 2019	PCG Pacific Gas & Electric Co.	Pacific Gas & Electric Co.	Sell - Position Exit	-815,000	-100.0%	$0.00	-
Q4 2019	SD SandRidge Energy, Inc.	SandRidge Energy, Inc.	Sell - Position Exit	-135,000	-100.0%	$0.00	-
Q4 2019	TEO Telecom Argentina SA	Telecom Argentina SA	Buy	+520,000	+39.7%	$20.78K	1,830,500
Q4 2019	TGS Transportadora de Gas del Sur S	Transportadora de Gas del Sur S	Buy	+666,729	+55.2%	$13.44K	1,874,729
Q4 2019	TSM Taiwan Semiconductor Manufactur	Taiwan Semiconductor Manufactur	Buy	+157,621	+5.5%	$174.66K	3,006,193
Q4 2019	TV Grupo Televisa S.A.B.	Grupo Televisa S.A.B.	Buy	+235,000	+41.5%	$9.39K	801,000
Q4 2019	VIST Vista Energy S.A.B. de C.V.	Vista Energy S.A.B. de C.V.	Buy	+648,000	+34.5%	$19.84K	2,528,000
Q4 2019	YETI YETI Holdings, Inc.	YETI Holdings, Inc.	Sell	-119,763	-22.3%	$14.53K	417,866

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