Latest OAKTREE CAPITAL MANAGEMENT LP Stock Portfolio

Howard Marks Performance:

2025 Q4: 101.88%YTD: 61.08%2024: -7.92%

Performance for 2025 Q4 is 101.88%, and YTD is 61.08%, and 2024 is -7.92%.

About Howard Marks and 13F Hedge Fund Stock Holdings

On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, Howard Marks reported an equity portfolio of $7 Billions as of 31 Dec, 2025.

The top stock holdings of OAKTREE CAPITAL MANAGEMENT LP are CHK, TRMD, . The fund has invested 8% of it's portfolio in EXPAND ENERGY CORP and 7.5% of portfolio in TORM PLC.

The fund managers got completely rid off ECHOSTAR CORP (SATS), NABORS INDUSTRIES LTD (NBR) and SEA LTD (SE) stocks. They significantly reduced their stock positions in INDIVIOR PHARMACEUTICALS INC, ALVOTECH SA (ALVO) and VISTA ENERGY SAB DE CV (VIST). OAKTREE CAPITAL MANAGEMENT LP opened new stock positions in GRUPO AEROMEXICO SAB DE CV, INFOSYS LTD (INFY) and ONITY GROUP INC (OCN). The fund showed a lot of confidence in some stocks as they added substantially to XP INC (XP), ECOVYST INC (ECVT) and CORE SCIENTIFIC INC.

Howard Marks Annual Return Estimates Vs S&P 500

Our best estimate is that OAKTREE CAPITAL MANAGEMENT LP made a return of 101.88% in the last quarter. In trailing 12 months, it's portfolio return was 61.08%.

Performance
S&P 500

New Buys

Ticker	$ Bought
riot platforms inc	92,922,200
grupo aeromexico sab de cv	82,942,600
echostar corp	60,165,000
dexcom inc	25,776,400
rice acquisition corp 3	24,660,000
draftkings inc	23,091,000
infosys ltd	19,508,500
synaptics inc	18,250,500

New stocks bought by OAKTREE CAPITAL MANAGEMENT LP

Additions

Ticker	% Inc.
winnebago industries inc	311
five9 inc	289
bentley systems inc	256
ziff davis inc	158
amphastar pharmaceuticals inc	144
unity software inc	141
topgolf callaway brands corp	115
biomarin pharmaceutical inc	113

Additions to existing portfolio by OAKTREE CAPITAL MANAGEMENT LP

Reductions

Ticker	% Reduced
indivior pharmaceuticals inc	-97.24
parsons corp	-91.01
guardant health inc	-88.06
nextera energy inc	-82.93
bridgebio pharma inc	-76.29
trip.com group ltd	-71.85
vail resorts inc	-70.13
alvotech sa	-65.87

OAKTREE CAPITAL MANAGEMENT LP reduced stake in above stock

Sold off

Ticker	$ Sold
sarepta therapeutics inc	-30,815,500
first majestic silver corp	-19,679,700
shift4 payments inc	-14,348,900
dexcom inc	-12,875,500
meritage homes corp	-13,056,300
guardant health inc	-12,053,700
travere therapeutics inc	-10,433,000
blackline inc	-8,481,330

OAKTREE CAPITAL MANAGEMENT LP got rid off the above stocks

Sector Distribution

OAKTREE CAPITAL MANAGEMENT LP has about 60.3% of it's holdings in Others sector.

Sector	%
Others	60.3
Energy	13.3
Consumer Cyclical	6.6
Communication Services	5.5
Real Estate	3.6
Basic Materials	2.5
Financial Services	2.3
Industrials	2.2
Consumer Defensive	1.7
Healthcare	1.5

Market Cap. Distribution

OAKTREE CAPITAL MANAGEMENT LP has about 3.8% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	60.3
SMALL-CAP	21.2
MID-CAP	14.4
LARGE-CAP	3.8

Stocks belong to which Index?

About 14.4% of the stocks held by OAKTREE CAPITAL MANAGEMENT LP either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	85.7
RUSSELL 2000	12.8
S&P 500	1.6

Top 5 Winners (%)		%
	indivior pharmaceuticals inc	44394.8 %
TEO	telecom argentina sa	56.5 %
SMRT	smartrent inc	43.3 %
NOK	nokia oyj	34.5 %
	barrick mining corp	31.3 %

Top 5 Winners ($)		$
	indivior pharmaceuticals inc	4746.7 M
GTX	garrett motion inc	93.3 M
	anglogold ashanti plc	60.0 M
	barrick mining corp	33.8 M
NOK	nokia oyj	31.1 M

Top 5 Losers (%)		%
ALVO	alvotech sa	-57.2 %
BTAI	bioxcel therapeutics inc	-37.5 %
ALVO	alvotech sa	-36.0 %
STKL	sunopta inc	-35.0 %
ATUS	optimum communications inc	-31.5 %

Top 5 Losers ($)		$
STKL	sunopta inc	-42.5 M
	core scientific inc	-24.9 M
TRMD	torm plc	-20.5 M
	talen energy corp	-15.7 M
GRAB	grab holdings ltd	-12.0 M

Howard Marks Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Howard Marks

OAKTREE CAPITAL MANAGEMENT LP has 53 stocks in it's portfolio. About 38.9% of the portfolio is in top 10 stocks. STKL proved to be the most loss making stock for the portfolio. was the most profitable stock for OAKTREE CAPITAL MANAGEMENT LP last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ABNB	airbnb inc	0.72	50,633,000	50,227,900	added	28.66

ACR	acres commercial realty corp	0.00	0.00	0.00	sold off	-100

AFRM	affirm holdings inc	0.07	5,225,000	5,042,120	added	21.77

AFRM	affirm holdings inc	0.01	927,000	1,028,740	new

AG	first majestic silver corp	0.00	0.00	0.00	sold off	-100

ALRM	alarm.com holdings inc	0.39	27,198,000	27,266,000	added	9.86

ALVO	alvotech sa	0.04	4,666,670	3,032,870	unchanged	0.00

ALVO	alvotech sa	0.03	533,656	2,023,110	reduced	-65.87

AMPH	amphastar pharmaceuticals inc	0.58	43,578,000	40,401,200	added	144

ARRY	array technologies inc	0.43	33,284,000	30,263,100	added	34.81

ASND	ascendis pharma a/s	0.01	700,000	994,315	reduced	-30.00

ATUS	optimum communications inc	0.18	7,500,000	12,375,000	unchanged	0.00

AVAV	aerovironment inc	0.24	15,763,000	17,142,300	reduced	-11.26

BAND	bandwidth inc	0.17	13,650,000	11,923,300	added	58.17

BATL	battalion oil corp	0.05	3,009,910	3,401,200	reduced	-0.13

BBIO	bridgebio pharma inc	0.04	2,550,000	2,871,940	reduced	-76.29

BBIO	bridgebio pharma inc	0.00	0.00	0.00	sold off	-100

BHC	bausch health cos inc	0.13	1,270,000	8,826,500	unchanged	0.00

BILL	bill holdings inc	0.04	3,306,000	3,136,570	reduced	-1.52

BL	blackline inc	0.03	1,816,000	1,801,020	new