Howard Marks - Oaktree Capital Management 13F Activity & Position Changes (Q4 2025)
As of Dec 31, 2025, the Oaktree Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 17, 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 Q4 2025, the filing reported:
New Buys - Infosys Limited, Onity Group Inc.
Increases - Bausch + Lomb Corporation, Core Scientific, Inc., Ecovyst Inc., Itau Unibanco Banco Holding SA, Talen Energy, and 1 more
Reductions - AngloGold Ashanti, Barrick Gold, Battalion Oil Corporation, KANZHUN LIMITED - American Depo, CBL & Associates Properties, In, and 18 more
Complete Exits - ACRES Commercial Realty Corp., JBS, Nabors Industries, EchoStar Corporation, Sea Limited, 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 | Type | Change Qty |
|---|---|---|---|
|
Q4 2025
|
ACR
ACRES Commercial Realty Corp.
|
Sell - Position Exit |
-391,380
|
|
Q4 2025
|
AU
AngloGold Ashanti
|
Sell |
-337,270
|
|
Q4 2025
|
B
Barrick Gold
|
Sell |
-326,968
|
|
Q4 2025
|
BATL
Battalion Oil Corporation
|
Sell |
-3,911
|
|
Q4 2025
|
BLCO
Bausch + Lomb Corporation
|
Buy |
+137,300
|
|
Q4 2025
|
BZ
KANZHUN LIMITED - American Depo
|
Sell |
-120,341
|
|
Q4 2025
|
CBL
CBL & Associates Properties, In
|
Sell |
-487,550
|
|
Q4 2025
|
CORZ
Core Scientific, Inc.
|
Buy |
+1,950,000
|
|
Q4 2025
|
CX
Cemex, S.A.B. de C.V. Sponsored
|
Sell |
-4,699,500
|
|
Q4 2025
|
ECVT
Ecovyst Inc.
|
Buy |
+1,395,481
|
|
Q4 2025
|
FCX
Freeport-McMoRan, Inc.
|
Sell |
-114,812
|
|
Q4 2025
|
FTAI
FTAI Aviation
|
Sell |
-67,847
|
|
Q4 2025
|
G4124C109
Grab
|
Sell |
-886,796
|
|
Q4 2025
|
G6683N103
Nu Holdings
|
Sell |
-39,709
|
|
Q4 2025
|
GTX
Garrett Motion Inc.
|
Sell |
-14,800,000
|
|
Q4 2025
|
HDB
HDFC Bank Limited
|
Sell |
-20,765
|
|
Q4 2025
|
INDV
Indivior
|
Sell |
-250,676,754
|
|
Q4 2025
|
INFY
Infosys Limited
|
Buy - Position Entry |
+1,094,752
|
|
Q4 2025
|
ITUB
Itau Unibanco Banco Holding SA
|
Buy |
+1,156,946
|
|
Q4 2025
|
L01800108
Alvotech
|
Sell |
-1,030,020
|
|
Q4 2025
|
LILA
Liberty Latin America Ltd
|
Sell |
-7,454
|
|
Q4 2025
|
LILAK
Liberty Latin America Ltd
|
Sell |
-921,043
|
|
Q4 2025
|
N4732M103
JBS
|
Sell - Position Exit |
-1,580,400
|
|
Q4 2025
|
NBR
Nabors Industries
|
Sell - Position Exit |
-737,112
|
|
Q4 2025
|
ONIT
Onity Group Inc.
|
Buy - Position Entry |
+390,835
|
|
Q4 2025
|
RWAY
Runway Growth Finance Corp.
|
Sell |
-1,250,000
|
|
Q4 2025
|
SATS
EchoStar Corporation
|
Sell - Position Exit |
-600,000
|
|
Q4 2025
|
SE
Sea Limited
|
Sell - Position Exit |
-141,368
|
|
Q4 2025
|
TEO
Telecom Argentina SA
|
Sell |
-281,975
|
|
Q4 2025
|
TGS
Transportadora de Gas del Sur S
|
Sell - Position Exit |
-56,522
|
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