Is this Oaktree's whole portfolio?

No. Oaktree invests mainly in corporate debt, and a 13F does not report debt. What you see is the listed part of a much larger credit business.

Why does a credit investor hold shares at all?

A restructuring often pays creditors in equity. A fund that bought a company's bonds can end up owning its shares without ever having bought a share.

He co-founded Oaktree and has written a public memo on investing roughly every month for thirty years. The memos are widely read, including by other professional investors.

View other investors

Credit and equity manager

The Oaktree portfolio

Howard Marks built Oaktree on debt. This form shows only what the firm reports in listed shares and options.

Size$7.2BPositions84Turnover113%Current weights, 12 m-2.5%

Create an account and we will tell you when this investor reports a trade.

The Oaktree portfolio

Size$7.2B

Current weights, 12 m-2.5%

Create an account and we will tell you when this investor reports a trade.

CompanyPortfolio weightDisclosed sincePrice24h30dValue

State Street SPDR S&P 500 ETFSPY14.0%————$1.0B

Invesco QQQ Trust, Series 1QQQ9.0%————$652M

14.0%

State Street SPDR S&P 500 ETFSPY

9.0%

Invesco QQQ Trust, Series 1QQQ

Expand Energy CorporationEXE6.6%since 2013$88.62+1.8%—$478M

Garrett Motion Inc.GTX3.8%since 2020$25.30−0.8%—$275M

AngloGold Ashanti plcAU3.6%since 2023$98.49−0.3%—$257M

Core Scientific, Inc.CORZ3.5%since 2025$18.12+0.1%—$256M

Indivior Pharmaceuticals IncINDV3.5%since 2026$36.00+0.3%—$251M

Telephone and Data Systems, Inc.TDS2.7%since 2025$36.33−0.3%—$196M

Viper Energy, Inc.VNOM2.2%since 2025$41.64+1.7%—$161M

Talen Energy CorporationTLN1.8%since 2024$300.01−0.1%—$127M

Barrick Mining CorporationB1.6%since 2025$42.31−0.4%—$118M

Itaú Unibanco Holding S.A.ITUB1.4%since 2013$8.08−1.2%—$98M

Liberty Global plcLBTYB1.4%since 2023$11.96−3.6%—$97M

Oaktree Specialty Lending CorporationOCSL1.3%—$12.08−0.7%—$94M

Etsy, Inc.ETSY1.1%—$68.98−6.4%—$82M

Freeport-McMoRan Inc.FCX1.1%—$72.08−0.7%—$76M

Grupo Aeroméxico, S.A.B. de C.V.AERO1.0%—$15.58−1.4%—$71M

Kilroy Realty CorporationKRC1.0%—$34.05+0.0%—$69M

BioMarin Pharmaceutical Inc.BMRN0.9%—$61.35−1.4%—$62M

Enphase Energy, Inc.ENPH0.8%—$32.82−0.8%—$58M

DexCom, Inc.DXCM0.8%—$87.47−0.3%—$57M

Bausch + Lomb CorporationBLCO0.8%—$16.80−1.5%—$57M

Viasat, Inc.VSAT0.8%—$73.72+0.1%—$57M

EchoStar CorporationECHO0.8%—$90.38−2.5%—$56M

MakeMyTrip LimitedMMYT0.7%—$46.87+0.2%—$52M

Matthews International CorporationMATW0.7%—$19.22−2.5%—$52M

XP Inc.XP0.7%—$20.52−1.7%—$51M

Unity Software Inc.U0.7%—$41.42−6.1%—$49M

YPF Sociedad AnónimaYPF0.6%—$53.61−0.6%—$45M

TransAlta CorporationTAC0.6%—$11.77−1.5%—$41M

Visteon CorporationVC0.5%—$89.85−3.4%—$40M

Runway Growth Finance Corp.RWAY0.5%—$6.73−0.1%—$39M

Embraer S.A.EMBJ0.4%—$76.40+1.3%—$28M

Array Digital Infrastructure IncAD0.4%—$34.49−1.3%—$25M

SharonAI Holdings, Inc. Class A Common StockSHAZ0.3%—$56.40−2.3%—$25M

Ternium S.A.TX0.3%—$55.53−0.8%—$24M

Quantum CorporationQMCO0.3%—$29.49+13.6%—$22M

Winnebago Industries, Inc.WGO0.3%—$26.90−1.9%—$19M

Block, Inc.XYZ0.2%—$76.74+2.8%—$17M

The Simply Good Foods CompanySMPL0.2%—$9.43−1.7%—$16M

Cogent Biosciences, Inc.COGT0.2%—$31.43+0.1%—$15M

Ziff Davis, Inc.ZD0.2%—$56.47−0.5%—$15M

Surgery Partners, Inc.SGRY0.2%—$14.20−2.5%—$14M

Upwork Inc.UPWK0.2%—$8.07−1.3%—$14M

Bitdeer Technologies GroupBTDR0.2%—$12.15−1.3%—$12M

Snowflake Inc.SNOW0.2%—$334.00−0.2%—$12M

MagnaChip SemiconductorMX0.2%—$3.18−1.2%—$12M

Nabors Industries Ltd.NBR0.2%—$82.99−0.0%—$11M

AeroVironment, Inc.AVAV0.2%—$158.55+1.7%—$11M

Itron, Inc.ITRI0.2%—$91.52+0.2%—$11M

Mayfair Gold Corp.MINE0.1%—$2.74−3.5%—$11M

Blue Moon Metals Inc.BMM0.1%—$5.22−0.8%—$11M

Envista Holdings CorpNVST0.1%—$24.07+1.1%—$10M

Cloudflare, Inc.NET0.1%—$358.92+1.9%—$10M

Rapid7, Inc.RPD0.1%—$12.85−1.8%—$10M

Freshpet, Inc.FRPT0.1%—$58.31−1.5%—$9M

Alphatec Holdings, Inc.ATEC0.1%—$9.92−1.1%—$9M

SmartRent, Inc.SMRT0.1%—$1.19+3.0%—$9M

Uber Technologies, Inc.UBER0.1%—$69.22−0.3%—$9M

Upstart Holdings, Inc.UPST0.1%—$24.64+0.8%—$8M

SiTime CorporationSITM0.1%—$643.24+5.6%—$8M

Rubrik, Inc.RBRK0.1%—$113.80−1.5%—$5M

Battalion Oil CorporationBATL0.1%—$1.12+1.8%—$4M

DPC Holdings Ltd.DPC0.1%—$41.34−1.4%—$4M

Rivian Automotive, Inc.RIVN0.1%—$15.29+1.8%—$4M

TransMedics Group, Inc.TMDX0.1%—$83.90−3.6%—$3M

WEC Energy Group, Inc.WEC0.1%—$100.90−0.3%—$3M

Akamai Technologies, Inc.AKAM0.0%—$110.41−6.8%—$3M

Nutanix, Inc.NTNX0.0%—$68.59−1.6%—$2M

MGP Ingredients, Inc.MGPI0.0%—$12.74−1.6%—$2M

Datadog, Inc.DDOG0.0%—$256.92+2.2%—$2M

BioXcel Therapeutics, Inc.BTAIQ0.0%—$0.04−22.2%—$2M

NN, Inc.NNBR0.0%—$3.60−6.7%—$2M

Fluor CorporationFLR0.0%—$50.63−4.6%—$2M

Groupon, Inc.GRPN0.0%—$20.89+4.2%—$2M

ON Semiconductor CorporationON0.0%—$73.15−1.3%—$2M

Telecom Argentina S.A.TEO0.0%—$13.38−4.3%—$2M

Revolution Medicines, Inc.RVMD0.0%—$199.86+4.8%—$1M

AlvotechALVO0.0%—$5.88+1.2%—$1M

CEMEX, S.A.B. de C.V.CX0.0%—$9.51−2.6%—$1M

NeoGenomics, Inc.NEO0.0%—$19.56+6.5%—$979683

Alibaba Group Holding LimitedBABAF0.0%—$13.79+7.8%—$885750

SunOpta Inc.STKL0.0%—$6.50+0.1%—$406498

Office Properties Income TrustOPI0.0%—$16.78−4.6%—$184467

6.6%

Expand Energy CorporationEXE · $88.62+1.8%

3.8%

Garrett Motion Inc.GTX · $25.30−0.8%

3.6%

AngloGold Ashanti plcAU · $98.49−0.3%

3.5%

Core Scientific, Inc.CORZ · $18.12+0.1%

3.5%

Indivior Pharmaceuticals IncINDV · $36.00+0.3%

2.7%

Telephone and Data Systems, Inc.TDS · $36.33−0.3%

2.2%

Viper Energy, Inc.VNOM · $41.64+1.7%

1.8%

Talen Energy CorporationTLN · $300.01−0.1%

1.6%

Barrick Mining CorporationB · $42.31−0.4%

1.4%

Itaú Unibanco Holding S.A.ITUB · $8.08−1.2%

1.4%

Liberty Global plcLBTYB · $11.96−3.6%

1.3%

Oaktree Specialty Lending CorporationOCSL · $12.08−0.7%

1.1%

Etsy, Inc.ETSY · $68.98−6.4%

1.1%

Freeport-McMoRan Inc.FCX · $72.08−0.7%

1.0%

Grupo Aeroméxico, S.A.B. de C.V.AERO · $15.58−1.4%

1.0%

Kilroy Realty CorporationKRC · $34.05+0.0%

0.9%

BioMarin Pharmaceutical Inc.BMRN · $61.35−1.4%

0.8%

Enphase Energy, Inc.ENPH · $32.82−0.8%

0.8%

DexCom, Inc.DXCM · $87.47−0.3%

0.8%

Bausch + Lomb CorporationBLCO · $16.80−1.5%

0.8%

Viasat, Inc.VSAT · $73.72+0.1%

0.8%

EchoStar CorporationECHO · $90.38−2.5%

0.7%

MakeMyTrip LimitedMMYT · $46.87+0.2%

0.7%

Matthews International CorporationMATW · $19.22−2.5%

0.7%

XP Inc.XP · $20.52−1.7%

0.7%

Unity Software Inc.U · $41.42−6.1%

0.6%

YPF Sociedad AnónimaYPF · $53.61−0.6%

0.6%

TransAlta CorporationTAC · $11.77−1.5%

0.5%

Visteon CorporationVC · $89.85−3.4%

0.5%

Runway Growth Finance Corp.RWAY · $6.73−0.1%

0.4%

Embraer S.A.EMBJ · $76.40+1.3%

0.4%

Array Digital Infrastructure IncAD · $34.49−1.3%

0.3%

SharonAI Holdings, Inc. Class A Common StockSHAZ · $56.40−2.3%

0.3%

Ternium S.A.TX · $55.53−0.8%

0.3%

Quantum CorporationQMCO · $29.49+13.6%

0.3%

Winnebago Industries, Inc.WGO · $26.90−1.9%

0.2%

Block, Inc.XYZ · $76.74+2.8%

0.2%

The Simply Good Foods CompanySMPL · $9.43−1.7%

0.2%

Cogent Biosciences, Inc.COGT · $31.43+0.1%

0.2%

Ziff Davis, Inc.ZD · $56.47−0.5%

0.2%

Surgery Partners, Inc.SGRY · $14.20−2.5%

0.2%

Upwork Inc.UPWK · $8.07−1.3%

0.2%

Bitdeer Technologies GroupBTDR · $12.15−1.3%

0.2%

Snowflake Inc.SNOW · $334.00−0.2%

0.2%

MagnaChip SemiconductorMX · $3.18−1.2%

0.2%

Nabors Industries Ltd.NBR · $82.99−0.0%

0.2%

AeroVironment, Inc.AVAV · $158.55+1.7%

0.2%

Itron, Inc.ITRI · $91.52+0.2%

0.1%

Mayfair Gold Corp.MINE · $2.74−3.5%

0.1%

Blue Moon Metals Inc.BMM · $5.22−0.8%

0.1%

Envista Holdings CorpNVST · $24.07+1.1%

0.1%

Cloudflare, Inc.NET · $358.92+1.9%

0.1%

Rapid7, Inc.RPD · $12.85−1.8%

0.1%

Freshpet, Inc.FRPT · $58.31−1.5%

0.1%

Alphatec Holdings, Inc.ATEC · $9.92−1.1%

0.1%

SmartRent, Inc.SMRT · $1.19+3.0%

0.1%

Uber Technologies, Inc.UBER · $69.22−0.3%

0.1%

Upstart Holdings, Inc.UPST · $24.64+0.8%

0.1%

SiTime CorporationSITM · $643.24+5.6%

0.1%

Rubrik, Inc.RBRK · $113.80−1.5%

0.1%

Battalion Oil CorporationBATL · $1.12+1.8%

0.1%

DPC Holdings Ltd.DPC · $41.34−1.4%

0.1%

Rivian Automotive, Inc.RIVN · $15.29+1.8%

0.1%

TransMedics Group, Inc.TMDX · $83.90−3.6%

0.1%

WEC Energy Group, Inc.WEC · $100.90−0.3%

0.0%

Akamai Technologies, Inc.AKAM · $110.41−6.8%

0.0%

Nutanix, Inc.NTNX · $68.59−1.6%

0.0%

MGP Ingredients, Inc.MGPI · $12.74−1.6%

0.0%

Datadog, Inc.DDOG · $256.92+2.2%

0.0%

BioXcel Therapeutics, Inc.BTAIQ · $0.04−22.2%

0.0%

NN, Inc.NNBR · $3.60−6.7%

0.0%

Fluor CorporationFLR · $50.63−4.6%

0.0%

Groupon, Inc.GRPN · $20.89+4.2%

0.0%

ON Semiconductor CorporationON · $73.15−1.3%

0.0%

Telecom Argentina S.A.TEO · $13.38−4.3%

0.0%

Revolution Medicines, Inc.RVMD · $199.86+4.8%

0.0%

AlvotechALVO · $5.88+1.2%

0.0%

CEMEX, S.A.B. de C.V.CX · $9.51−2.6%

0.0%

NeoGenomics, Inc.NEO · $19.56+6.5%

0.0%

Alibaba Group Holding LimitedBABAF · $13.79+7.8%

0.0%

SunOpta Inc.STKL · $6.50+0.1%

0.0%

Office Properties Income TrustOPI · $16.78−4.6%

SourceSEC Form 13F filings (US)Holdings as of 30 Jun 2026

The -2.5% above is the 12-month change these weights would have produced. It is not Oaktree Capital Management's return.

Why people follow this portfolio

Oaktree Capital Management is the credit investor Howard Marks co-founded in 1995. These are its US-listed equity positions from the latest filing.

Oaktree buys the debt of companies in trouble. When a business defaults or restructures, its bonds trade far below face value, and Oaktree's work is deciding which of those will be repaid. Howard Marks has written a memo about that judgement roughly every month for thirty years, and those memos are read well beyond the firm.

That is why this page needs a caveat the others do not. The 13F form reports listed shares and options on them, and neither is what Oaktree mainly owns. The positions here are real, but they are a small part of a firm whose money is in credit. No reader should take this list for the portfolio.

Some of the shares here arrived through the debt. A restructuring often pays creditors in equity, so a fund that bought bonds ends up holding stock in the company that issued them. That is a different decision from choosing to buy a share, and the form does not distinguish the two.

Where this data comes from

Positions come from the 13F form the firm files with the SEC each quarter. The form covers US-listed shares and options on them. Oaktree invests mainly in debt, none of which appears here, so this is a small part of what the firm manages.

Where to buy these stocks

Regulated platforms available in your country.

eToroDeposit US$200 and get US$50 for freeTrade with

T&C apply. Your capital is at risk.

GBM

4.5

Platform of the Grupo Bursátil Mexicano that facilitates investing from Mexico in stocks, funds, and ETFs through a digital, educational, and intuitive interface. Design your portfolio and grow your wealth step by step.

Per trade

MXN 0*

Fintual

4.3

Latin American fintech that democratizes investing through mutual funds, stocks, and ETFs. Start investing with no commissions and from USD 1.

Per trade

MXN 0

Folionet

4.3

Established in Miami for the Latin American audience, Folionet provides you access to your own investment account in the U.S., wherever you are. Choose between a personal account or one with advisory services and start enhancing your capital in international markets.

Per trade

USD 0.98

Compare all brokers

Frequently asked questions

Other disclosed portfolios

All investors

The Appaloosa portfolio

David Tepper built his record buying what other investors were selling in a crisis.

The Third Point portfolio

Daniel Loeb buys a large stake, then writes the letter that makes the argument public.

The Berkshire Hathaway portfolio

The company through which Warren Buffett taught value investing. Its disclosed portfolio, position by position.