# Oaktree Capital Management portfolio: Q2 2026 13F holdings

Howard Marks’s Oaktree Capital Management: $7.2bn in 48 US holdings at Q2 2026, with buys and sells.

In Q2 2026, Oaktree Capital Management held 48 US-listed stocks worth $7.2bn. Its biggest move was cutting Torm (15% fewer shares, now 7.3%), followed by cutting Sunopta (100% fewer shares, now 0.0%). It started 10 new positions and sold out of 11. Its largest holding is Torm at 7.3%.

13F for the quarter ending 2026-06-30, filed 2026-08-13 ([filing](https://www.sec.gov/Archives/edgar/data/949509/000094950926000005/0000949509-26-000005-index.htm)). $7.2bn in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| Torm (TRMD) | $524m | 7.3% | Trimmed -15% | 10.3% |
| Expand Energy (EXE) | $478m | 6.6% | Unchanged | 8.8% |
| Garrett Motion (GTX) | $275m | 3.8% | Trimmed -48% | 4.0% |
| Anglogold Ashanti (AU) | $257m | 3.6% | Trimmed -1.4% | 4.8% |
| Indivior (INDV) | $251m | 3.5% | Trimmed -12% | 3.3% |
| Telephone & Data Systems (TDS) | $196m | 2.7% | Added +23% | 2.8% |
| Viper Energy (VNOM) | $161m | 2.2% | Unchanged | 2.7% |
| Core Scientific (CORZ) | $128m | 1.8% | Trimmed -47% | 2.1% |
| Talen Energy (TLN) | $127m | 1.8% | Unchanged | 1.6% |
| Barrick Mining (B) | $118m | 1.6% | Added +22% | 1.6% |
| ITAU Unibanco Holdings S.A. AD (ITUB) | $97.9m | 1.4% | Trimmed -1.7% | 1.6% |
| Liberty Global (LBTYA) | $97.2m | 1.4% | Unchanged | 1.6% |
| Oaktree Specialty Lending (OCSL) | $94.0m | 1.3% | Added +325% | 0.3% |
| Freeport-Mcmoran (FCX) | $75.5m | 1.1% | Trimmed -1.6% | 1.1% |
| Grupo Aeromexico (AERO) | $71.4m | 1.0% | Unchanged | 0.8% |
| Kilroy Realty (KRC) | $69.3m | 1.0% | Unchanged | 0.8% |
| Liberty Latin America (LILAK) | $65.5m | 0.9% | Added +28% | 0.9% |
| Sea (SE) | $60.9m | 0.8% | New | – |
| Bausch Plus Lomb (BLCO) | $57.0m | 0.8% | Added +1.7% | 0.8% |
| Viasat (VSAT) | $56.6m | 0.8% | New | – |
| MakeMyTrip (MMYT) | $52.4m | 0.7% | New | – |
| Matthews International (MATW) | $51.8m | 0.7% | New | – |
| XP (XP) | $50.7m | 0.7% | Trimmed -1.7% | 0.9% |
| YPF Sociedad Anonima (YPF) | $45.1m | 0.6% | Added +12% | 0.6% |
| Transalta (TAC) | $41.5m | 0.6% | Trimmed -53% | 1.3% |
| Runway Growth Finance (RWAY) | $39.4m | 0.6% | Unchanged | 0.7% |
| Embraer (EMBJ) | $28.1m | 0.4% | Trimmed -1.8% | 0.4% |
| Rice Acquisition Corp 3 (KRSP) | $25.6m | 0.4% | Unchanged | 0.4% |
| Array Digital Infrastructure (AD) | $25.3m | 0.3% | Trimmed -3.8% | 0.5% |
| Sharonai Holdings (SHAZ) | $24.5m | 0.3% | Trimmed -71% | 0.3% |
| Ternium (TX) | $24.4m | 0.3% | Trimmed -1.8% | 0.4% |
| Quantum (QMCO) | $22.1m | 0.3% | New | – |
| Simply Good Foods (SMPL) | $16.0m | 0.2% | Added +6.6% | 0.3% |
| Surgery Partners (SGRY) | $14.5m | 0.2% | New | – |
| Mayfair Gold (MINE) | $11.1m | 0.1% | Unchanged | 0.2% |
| Blue Moon Metals (BMM) | $10.7m | 0.1% | Unchanged | 0.2% |
| Smartrent (SMRT) | $8.9m | 0.1% | Unchanged | 0.2% |
| Magnachip Semiconductor (MX) | $7.1m | 0.1% | Trimmed -47% | 0.1% |
| Battalion Oil (BATL) | $3.9m | 0.1% | Trimmed -67% | 0.2% |
| DPC Holdings (DPC) | $3.7m | 0.1% | New | – |
| Service Properties Trust | $3.4m | 0.1% | New | – |
| Bioxcel Therapeutics (BTAIQ) | $1.9m | 0.0% | Added +472% | 0.0% |
| Nn (NNBR) | $1.8m | 0.0% | New | – |
| Telecom Argentina (TEO) | $1.5m | 0.0% | Trimmed -93% | 0.3% |
| Alvotech (ALVO) | $1.4m | 0.0% | Trimmed -2.9% | 0.0% |
| Cemex (CX) | $1.2m | 0.0% | Trimmed -96% | 0.5% |
| Sunopta (STKL) | $406k | 0.0% | Trimmed -100% | 2.0% |
| Office Properties Income Trust (OPI) | $184k | 0.0% | New | – |
| Petroleo Brasileiro SA - Petrobras (PBR) | – | – | Sold out | 1.9% |
| Nokia (NOK) | – | – | Sold out | 1.4% |
| CBL & Assoc Pptys (CBL) | – | – | Sold out | 1.3% |
| Credo Technology Group Holding (CRDO) | – | – | Sold out | 0.8% |
| Ecovyst (ECVT) | – | – | Sold out | 0.5% |
| Altice USA (OPTU) | – | – | Sold out | 0.1% |
| Illumination Acquisition Corp. (ILLUU) | – | – | Sold out | 0.1% |
| NRG Energy (NRG) | – | – | Sold out | 0.1% |
| Invesco Exch Traded Fd Tr II (BKLN) | – | – | Sold out | 0.1% |
| HDFC Bank (HDB) | – | – | Sold out | 0.0% |
| PDD Holdings (PDD) | – | – | Sold out | 0.0% |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/oaktree-capital-management). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.