Howard Marks - Oaktree Capital Management 13F Activity & Position Changes (Q4 2024)

As of Dec 31, 2024, the Oaktree Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 12, 2025. 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 2024, the filing reported:

New Buys - , Coupang, Inc., Barrick Gold Corporation, Mesoblast Limited, Sunrise Communications

Increases - , HDFC Bank Limited, Liberty Global, NetEase, Inc.

Reductions - AngloGold Ashanti, Banco Macro S.A., KANZHUN LIMITED - American Depo, CBL & Associates Properties, In, Cemex, S.A.B. de C.V. Sponsored, and 21 more

Complete Exits - Alibaba Group Holding Limited, Banco Bradesco Sa, Hims & Hers Health, Inc., Itau Unibanco Banco Holding SA, XP Inc, and 2 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
Q4 2024	AU AngloGold Ashanti	AngloGold Ashanti	Sell	-99,900	-1.8%	$128.27M	5,557,551
Q4 2024	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell - Position Exit	-224,719	-100.0%	$0.00	-
Q4 2024	BBD Banco Bradesco Sa	Banco Bradesco Sa	Sell - Position Exit	-14,114,711	-100.0%	$0.00	-
Q4 2024	BMA Banco Macro S.A.	Banco Macro S.A.	Sell	-85,675	-18.5%	$36.64M	378,625
Q4 2024	BZ KANZHUN LIMITED - American Depo	KANZHUN LIMITED - American Depo	Sell	-248,943	-12.4%	$24.32M	1,762,631
Q4 2024	CBL CBL & Associates Properties, In	CBL & Associates Properties, In	Sell	-1,000,000	-25.0%	$88.38M	3,005,126
Q4 2024	CHK		Buy	+66,480	+1.0%	$690.61M	6,937,364
Q4 2024	CHKEL		Buy - Position Entry	+95,294	-	$8.24M	95,294
Q4 2024	CPNG Coupang, Inc.	Coupang, Inc.	Buy - Position Entry	+241,544	-	$5.31M	241,544
Q4 2024	CX Cemex, S.A.B. de C.V. Sponsored	Cemex, S.A.B. de C.V. Sponsored	Sell	-100,000	-0.7%	$82.28M	14,589,032
Q4 2024	DQ DAQO New Energy Corp.	DAQO New Energy Corp.	Sell	-53,932	-8.9%	$10.71M	551,007
Q4 2024	ENLC EnLink Midstream, LLC	EnLink Midstream, LLC	Sell	-25,987	-1.0%	$35.36M	2,499,111
Q4 2024	FCX Freeport-McMoRan, Inc.	Freeport-McMoRan, Inc.	Sell	-662,236	-27.3%	$67.14M	1,763,003
Q4 2024	GOLD Barrick Gold Corporation	Barrick Gold Corporation	Buy - Position Entry	+1,015,063	-	$15.73M	1,015,063
Q4 2024	HDB HDFC Bank Limited	HDFC Bank Limited	Buy	+35,657	+66.0%	$5.73M	89,697
Q4 2024	HIMS Hims & Hers Health, Inc.	Hims & Hers Health, Inc.	Sell - Position Exit	-666,962	-100.0%	$0.00	-
Q4 2024	HTHT H World Group Limited	H World Group Limited	Sell	-22,600	-1.9%	$37.83M	1,145,269
Q4 2024	INDV Indivior	Indivior	Sell	-788,432	-8.3%	$112.00M	8,733,548
Q4 2024	INFY Infosys Limited	Infosys Limited	Sell	-33,833	-2.0%	$36.77M	1,677,679
Q4 2024	ITUB Itau Unibanco Banco Holding SA	Itau Unibanco Banco Holding SA	Sell - Position Exit	-9,076,407	-100.0%	$0.00	-
Q4 2024	JD JD.com, Inc.	JD.com, Inc.	Sell	-350,256	-19.9%	$48.88M	1,409,952
Q4 2024	L01800108 Alvotech	Alvotech	Sell	-606,322	-23.9%	$25.48M	1,925,705
Q4 2024	LBTYA Liberty Global	Liberty Global	Buy	+1,230,932	+20.6%	$91.93M	7,204,190
Q4 2024	MESO Mesoblast Limited	Mesoblast Limited	Buy - Position Entry	+179,593	-	$3.56M	179,593
Q4 2024	NTES NetEase, Inc.	NetEase, Inc.	Buy	+167,100	+71.8%	$35.66M	399,694
Q4 2024	ONIT Onity Group Inc.	Onity Group Inc.	Sell	-40,600	-9.0%	$12.60M	410,429
Q4 2024	PAM Pampa Energia S.A.	Pampa Energia S.A.	Sell	-72,681	-35.7%	$11.53M	131,086
Q4 2024	PBR Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Sell	-716,548	-17.6%	$43.12M	3,352,724
Q4 2024	PDD PDD Holdings Inc.	PDD Holdings Inc.	Sell	-5,500	-1.9%	$26.94M	277,767
Q4 2024	SNREV Sunrise Communications	Sunrise Communications	Buy - Position Entry	+1,440,836	-	$62.07M	1,440,836

Page 1 of 2