OAKTREE CAPITAL MANAGEMENT LP
Follow13F filer, CIK 949509, LOS ANGELES, CA
OAKTREE CAPITAL MANAGEMENT LP reported $7,027,767,837 across 172 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 44.36% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000949509-26-000001
- Period
- 2025-12-31
- Reported value
- $7.03B
- Holdings
- 172
- Top 10 weight
- 44.36%
- New
- 38
- Sold out
- 31
Part of the filer group Oaktree Capital Holdings, LLC
Oaktree Capital Holdings, LLCOaktree Fund Advisors, LLC
- Oaktree Capital Holdings, LLC
- Oaktree Fund Advisors, LLC
- OAKTREE CAPITAL MANAGEMENT GP, LLC
Stakes and trades reported after 2025-12-31
13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.
- QVCG QVC GROUP INC: Form 4 sold 5,224 shares on 2026-08-20, 0001193125-26-423121Timeline
Accepted , ingested
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| AEROnew | +3,776,986 | $82.9M |
| CORZadded | +1,950,000 | $28.4M |
| KRSPnew | +2,400,000 | $24.7M |
| XPadded | +1,287,282 | $21.1M |
| INFYnew | +1,094,752 | $19.5M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| INDIVIOR PLCreduced | -250,676,754 | -$8.99B |
| TRMDreduced | -14,156,061 | -$282M |
| GTXreduced | -14,800,000 | -$258M |
| CXreduced | -4,699,500 | -$54M |
| VISTreduced | -1,059,069 | -$51.5M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Back to all 53 share positions
Options
Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| SMHVANECK ETF TRUST COM | put | 865,000 | $312M | new |
| SPYSTATE STR SPDR S&P 500 ETF T SHS | put | 385,000 | $263M | +55,000 |
| TLNTALEN ENERGY CORP Stock | call | 300,000 | $112M | +235,000 |
| ORCLORACLE CORP COM | put | 500,000 | $97.5M | 0 |
| MARMARRIOTT INTL INC NEW Stock | put | 150,000 | $46.5M | 0 |
| CORZCORE SCIENTIFIC INC NEW COM | call | 2,000,000 | $29.1M | new |
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| RIOT PLATFORMS INCRIOT PLATFORMS INC NOTE 0.750% 1/1 | principal | 81,960,000 | $92.9M | new |
| JETBLUE AIRWAYS CORPJETBLUE AIRWAYS CORP NOTE 0.500% 4/0 | principal | 90,530,000 | $89M | +22,267,000 |
| ECHOSTAR CORPECHOSTAR CORP NOTE 3.875%11/3 | principal | 18,000,000 | $60.2M | new |
| CABLE ONE INCCABLE ONE INC NOTE 3/1 | principal | 58,874,000 | $58.1M | +128,000 |
| AIRBNB INC CLASS AAIRBNB INC CLASS A CLASS A | principal | 50,633,000 | $50.2M | +11,280,000 |
| ETSY INCETSY INC NOTE 0.250% 6/1 | principal | 50,165,000 | $44.9M | +10,835,000 |
| BIOMARIN PHARMACEUTICAL INCBIOMARIN PHARMACEUTICAL INC NOTE 1.250% 5/1 | principal | 42,118,000 | $40.5M | +22,399,000 |
| AMPHASTAR PHARMACEUTICALS INAMPHASTAR PHARMACEUTICALS IN NOTE 2.000% 3/1 | principal | 43,578,000 | $40.4M | +25,753,000 |
| CONMED CORPCONMED CORP NOTE 2.250% 6/1 | principal | 40,324,000 | $38.7M | -189,000 |
| MARRIOTT VACATIONS WORLDWIDEMARRIOTT VACATIONS WORLDWIDE NOTE 3.250%12/1 | principal | 40,370,000 | $38.5M | +4,538,000 |
| PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TR NOTE 1.750%12/1 | principal | 39,706,000 | $38.4M | +13,530,000 |
| SEA LTDSEA LTD NOTE 0.250% 9/1 | principal | 38,855,000 | $37.8M | +1,827,000 |
| TELADOC HEALTH INCTELADOC HEALTH INC NOTE 1.250% 6/0 | principal | 38,479,000 | $36.7M | -2,159,000 |
| ENPHASE ENERGY INCENPHASE ENERGY INC NOTE 3/0 | principal | 38,178,000 | $33.4M | +9,556,000 |
| CRACKER BARREL OLD CTRY STORCRACKER BARREL OLD CTRY STOR cv | principal | 33,101,000 | $32.2M | +8,328,000 |
| ARRAY TECHNOLOGIES INCARRAY TECHNOLOGIES INC NOTE 1.000%12/0 | principal | 33,284,000 | $30.3M | +8,595,000 |
| ENVISTA HOLDINGS CORPORATIONENVISTA HOLDINGS CORPORATION NOTE 1.750% 8/1 | principal | 30,786,000 | $29.6M | +5,307,000 |
| OKTA INCOKTA INC NOTE 0.375% 6/1 | principal | 28,311,000 | $27.8M | +11,405,000 |
| FIVE9 INCFIVE9 INC CNV | principal | 30,353,000 | $27.4M | +22,570,000 |
| ALARM COM HLDGS INCALARM COM HLDGS INC NOTE 1/1 | principal | 27,198,000 | $27.3M | +2,441,000 |
| SPECTRUM BRANDS INCSPECTRUM BRANDS INC Convertible Bond | principal | 27,496,000 | $26.1M | +11,275,000 |
| DEXCOM INCDEXCOM INC NOTE 0.375% 5/1 | principal | 27,995,000 | $25.8M | new |
| DRAFTKINGS INC NEWDRAFTKINGS INC NEW CNV | principal | 25,225,000 | $23.1M | new |
| MGP INGREDIENTS INC NEWMGP INGREDIENTS INC NEW NOTE 1.875%11/1 | principal | 23,225,000 | $22.5M | +5,950,000 |
| SUMMIT HOTEL PPTYSSUMMIT HOTEL PPTYS NOTE 1.500% 2/1 | principal | 21,560,000 | $21.5M | -7,881,000 |
| BLOCK INCBLOCK INC NOTE 5/0 | principal | 20,243,000 | $19.9M | +10,229,000 |
| NABORS INDS INCNABORS INDS INC NOTE 1.750% 6/1 | principal | 24,063,000 | $19.6M | +11,230,000 |
| JD.COM INCJD.COM INC NOTE 0.250% 6/0 | principal | 19,233,000 | $19.3M | -4,588,000 |
| DAYFORCE INCDAYFORCE INC NOTE 0.250% 3/1 | principal | 19,351,000 | $19.2M | +9,969,000 |
| WINNEBAGO INDS INCWINNEBAGO INDS INC NOTE 3.250% 1/1 | principal | 20,220,000 | $19.1M | +15,312,000 |
| SNAP INCSNAP INC NOTE 5/0 | principal | 19,576,000 | $18.3M | +6,599,000 |
| SYNAPTICS INCSYNAPTICS INC NOTE 0.750%12/0 | principal | 17,250,000 | $18.3M | new |
| LIVANOVA PLCLIVANOVA PLC NOTE 2.500% 3/1 | principal | 15,285,000 | $17.7M | +200,000 |
| PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1 | principal | 15,672,000 | $17.2M | -61,000 |
| AEROVIRONMENT INCAEROVIRONMENT INC NOTE 7/1 | principal | 15,763,000 | $17.1M | -2,000,000 |
| TETRA TECH INC NEWTETRA TECH INC NEW DBCV 2.250% 8/1 | principal | 15,289,000 | $16.6M | +3,384,000 |
| CMS ENERGY CORPCMS ENERGY CORP NOTE 3.375% 5/0 | principal | 15,199,000 | $16.3M | -2,144,000 |
| HAEMONETICS CORP MASSHAEMONETICS CORP MASS NOTE 3/0 | principal | 15,030,000 | $14.9M | +5,784,000 |
| JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD Convertible | principal | 10,600,000 | $14.1M | -6,100,000 |
| WEC ENERGY GROUP INCWEC ENERGY GROUP INC Convertible | principal | 11,957,000 | $14M | -457,000 |
| LANTHEUS HLDGS INCLANTHEUS HLDGS INC Convertible | principal | 11,525,000 | $13.2M | +5,250,000 |
| SNAP INCSNAP INC NOTE 0.125% 3/0 | principal | 13,422,000 | $12.2M | -1,917,000 |
| BANDWIDTH INCBANDWIDTH INC NOTE 0.500% 4/0 | principal | 13,650,000 | $11.9M | +5,020,000 |
| BLACKSTONE MORTGAGE TRUST INBLACKSTONE MORTGAGE TRUST IN NOTE 5.500% 3/1 | principal | 11,999,000 | $11.9M | +5,060,000 |
| REDFIN CORPREDFIN CORP NOTE 0.500% 4/0 | principal | 11,841,000 | $11.1M | +3,721,000 |
| PENNYMAC CORPPENNYMAC CORP NOTE 5.500% 3/1 | principal | 10,935,000 | $11M | +5,524,000 |
| ENPHASE ENERGY INCENPHASE ENERGY INC NOTE 3/0 | principal | 10,911,000 | $10.8M | -2,149,000 |
| COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.250% 4/0 | principal | 10,510,000 | $10.8M | -2,500,000 |
| REPLIGEN CORPREPLIGEN CORP NOTE 1.000%12/1 | principal | 9,830,000 | $10.8M | +1,008,000 |
| FLUOR CORPFLUOR CORP NOTE 1.125% 8/1 | principal | 9,371,000 | $10.7M | -1,100,000 |
| MAGNITE INCMAGNITE INC NOTE 0.250% 3/1 | principal | 10,305,000 | $10.2M | +3,668,000 |
| LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN Convertible | principal | 9,670,000 | $10.2M | new |
| ZIFF DAVIS INCZIFF DAVIS INC NOTE 1.75% 11/01/2026 | principal | 10,091,000 | $9.89M | +3,715,000 |
| LCI INDSLCI INDS NOTE 1.125% 5/1 | principal | 9,927,000 | $9.8M | +3,521,000 |
| CALLAWAY GOLF COCALLAWAY GOLF CO NOTE 2.750% 5/0 | principal | 9,596,000 | $9.58M | +5,150,000 |
| COGENT BIOSCIENCES INCCOGENT BIOSCIENCES INC NOTE 1.625%11/1 | principal | 7,650,000 | $8.99M | new |
| ITRON INCITRON INC NOTE 1.375% 7/1 | principal | 8,700,000 | $8.81M | new |
| UNITY SOFTWARE INCUNITY SOFTWARE INC NOTE 11/1 | principal | 9,076,000 | $8.79M | +5,325,000 |
| FRESHPET INCFRESHPET INC NOTE 3.000% 4/0 | principal | 7,300,000 | $8.55M | +3,000,000 |
| MKS INC.MKS INC. NOTE 1.250% 6/0 | principal | 6,255,000 | $7.99M | -10,450,000 |
| DATADOG INCDATADOG INC NOTE 12/0 | principal | 7,499,000 | $7.51M | new |
| REDWOOD TRUST INCREDWOOD TRUST INC Convertible | principal | 7,456,000 | $7.44M | +1,873,000 |
| GREEN PLAINS INCGREEN PLAINS INC NOTE 2.250% 3/1 | principal | 7,677,000 | $7.39M | new |
| UPSTART HLDGS INCUPSTART HLDGS INC NOTE 0.250% 8/1 | principal | 7,199,000 | $6.97M | -4,244,000 |
| UPWORK INCUPWORK INC NOTE 0.250% 8/1 | principal | 7,038,000 | $6.88M | +2,392,000 |
| BENTLEY SYS INCBENTLEY SYS INC NOTE 0.375% 7/0 | principal | 6,730,000 | $6.35M | +4,844,000 |
| NEOGENOMICS INCNEOGENOMICS INC NOTE 0.250% 1/1 | principal | 7,098,000 | $6.34M | +3,168,000 |
| VERTEX INCVERTEX INC NOTE 0.750% 5/0 | principal | 6,507,000 | $6.18M | -743,000 |
| CERENCE INCCERENCE INC NOTE 1.500% 7/0 | principal | 6,605,000 | $5.96M | +2,544,000 |
| BLOCK INCBLOCK INC NOTE 0.250%11/0 | principal | 5,935,000 | $5.51M | +2,564,000 |
| SHAKE SHACK INCSHAKE SHACK INC NOTE 3/0 | principal | 5,686,000 | $5.39M | -6,030,000 |
| MITEK SYS INCMITEK SYS INC NOTE 0.750% 2/0 | principal | 5,374,000 | $5.33M | new |
| NUTANIX INCNUTANIX INC NOTE 0.500%12/1 | principal | 5,436,000 | $5.26M | new |
| AFFIRM HLDGS INCAFFIRM HLDGS INC NOTE 11/1 | principal | 5,225,000 | $5.04M | +934,000 |
| PENN ENTERTAINMENT INCPENN ENTERTAINMENT INC NOTE 2.750% 5/1 | principal | 4,952,000 | $4.91M | new |
| SOUTHERN COSOUTHERN CO NOTE 4.500% 6/1 | principal | 4,557,000 | $4.87M | 0 |
| STRATEGY INCSTRATEGY INC NOTE12/0 | principal | 5,763,000 | $4.75M | new |
| SNAP INCSNAP INC NOTE 0.75% 08/01/2026 | principal | 3,767,000 | $3.65M | +1,704,000 |
| ZIFF DAVIS INCZIFF DAVIS INC DEBT 3.625% 3/0 | principal | 3,496,000 | $3.43M | +2,145,000 |
| AMERICAN WTR CAP CORPAMERICAN WTR CAP CORP NOTE 3.625% 6/1 | principal | 3,426,000 | $3.42M | new |
| TWO HARBORS INVENTMENT CORPOTWO HARBORS INVENTMENT CORPO NOTE 6.250% 1/1 | principal | 3,298,000 | $3.29M | -426,000 |
| BILL HOLDINGS INCBILL HOLDINGS INC NOTE 4/0 | principal | 3,306,000 | $3.14M | -51,000 |
| FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1 | principal | 2,900,000 | $3.02M | new |
| BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC Convertible | principal | 2,550,000 | $2.87M | -8,207,000 |
| POST HLDGS INCPOST HLDGS INC NOTE 2.500% 8/1 | principal | 2,650,000 | $2.86M | +1,350,000 |
| ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 5/0 | principal | 1,950,000 | $2.33M | 0 |
| NUTANIX INCNUTANIX INC Convertible | principal | 2,000,000 | $2.25M | new |
| WISDOMTREE INCWISDOMTREE INC NOTE 3.250% 8/1 | principal | 1,850,000 | $2.23M | new |
| Dropbox IncDropbox Inc Convertible bond | principal | 2,175,000 | $2.16M | new |
| CHEESECAKE FACTORY INCCHEESECAKE FACTORY INC NOTE 0.375% 6/1 | principal | 1,960,000 | $1.94M | new |
| GROUPON INCGROUPON INC NOTE 1.125% 3/1 | principal | 1,874,000 | $1.86M | -508,000 |
| VAIL RESORTS INCVAIL RESORTS INC NOTE 1/0 | principal | 1,819,000 | $1.82M | -4,271,000 |
| DIGITALOCEAN HLDGS INCDIGITALOCEAN HLDGS INC CNV | principal | 1,880,000 | $1.82M | -151,000 |
| BLACKLINE INCBLACKLINE INC NOTE 3/1 | principal | 1,816,000 | $1.8M | new |
| NEXTERA ENERGY CAP HLDGS INCNEXTERA ENERGY CAP HLDGS INC NOTE 3.000% 3/0 | principal | 1,292,000 | $1.61M | -6,276,000 |
| CELCUITY INCCELCUITY INC NOTE 2.750% 8/0 | principal | 700,000 | $1.52M | new |
| FASTLY INCFASTLY INC NOTE 7.750% 6/0 | principal | 1,353,000 | $1.5M | new |
| VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1 | principal | 1,651,000 | $1.49M | new |
| SPOTIFY USA INCSPOTIFY USA INC NOTE 3/1 | principal | 1,300,000 | $1.48M | new |
| TRIP COM GROUP LTDTRIP COM GROUP LTD NOTE 0.750% 6/1 | principal | 1,189,000 | $1.47M | -3,035,000 |
| HERBALIFE LTDHERBALIFE LTD NOTE 4.250% 6/1 | principal | 1,242,000 | $1.35M | -1,605,000 |
| STRATEGY INCSTRATEGY INC NOTE 0.875% 3/1 | principal | 1,300,000 | $1.34M | new |
| LYFT INCLYFT INC Convertible | principal | 1,100,000 | $1.33M | 0 |
| PARSONS CORP DELPARSONS CORP DEL NOTE 2.625% 3/0 | principal | 1,160,000 | $1.2M | -11,750,000 |
| AFFIRM HLDGS INCAFFIRM HLDGS INC NOTE 0.750%12/1 | principal | 927,000 | $1.03M | new |
| TYLER TECHNOLOGIES INCTYLER TECHNOLOGIES INC NOTE 0.250% 3/1 | principal | 1,000,000 | $1.01M | new |
| ASCENDIS PHARMA A/SASCENDIS PHARMA A/S Convertible bond | principal | 700,000 | $994K | -300,000 |
| RINGCENTRAL INCRINGCENTRAL INC NOTE 3/1 | principal | 984,000 | $975K | new |
| HAEMONETICS CORP MASSHAEMONETICS CORP MASS NOTE 2.500% 6/0 | principal | 902,000 | $939K | new |
| FASTLY INCFASTLY INC NOTE 3/1 | principal | 863,000 | $850K | -491,000 |
| GLADSTONE CAP CORPGLADSTONE CAP CORP NOTE 5.875%10/0 | principal | 754,000 | $739K | new |
| GUARDANT HEALTH INCGUARDANT HEALTH INC NOTE 11/1 | principal | 555,000 | $600K | -4,092,000 |
| PELOTON INTERACTIVE INCPELOTON INTERACTIVE INC NOTE 2/1 | principal | 559,000 | $553K | -795,000 |
Sold out in Q4 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| IWMISHARES TR | 220,000 | $53.2M | put |
| ECHOECHOSTAR CORP | 600,000 | $45.8M | shares |
| SAREPTA THERAPEUTICS INCSAREPTA THERAPEUTICS INC | 34,930,000 | $30.8M | principal |
| NBRNABORS INDUSTRIES LTD | 737,112 | $30.1M | shares |
| SESEA LTD | 141,368 | $25.3M | shares |
| JBSJBS N.V. | 1,580,400 | $23.6M | shares |
| FIRST MAJESTIC SILVER CORPFIRST MAJESTIC SILVER CORP | 18,133,000 | $19.7M | principal |
| SHIFT4 PMTS INCSHIFT4 PMTS INC | 14,544,000 | $14.3M | principal |
| MERITAGE HOMES CORPMERITAGE HOMES CORP | 12,695,000 | $13.1M | principal |
| DEXCOM INCDEXCOM INC | 12,963,000 | $12.9M | principal |
| WINGWINGSTOP INC | 50,000 | $12.6M | put |
| GUARDANT HEALTH INCGUARDANT HEALTH INC | 9,240,000 | $12.1M | principal |
| TRAVERE THERAPEUTICS INCTRAVERE THERAPEUTICS INC | 9,213,000 | $10.4M | principal |
| BLACKLINE INCBLACKLINE INC | 8,148,000 | $8.48M | principal |
| LI AUTO INCLI AUTO INC | 7,279,000 | $8.32M | principal |
| ACRACRES COMMERCIAL REALTY CORP | 391,380 | $8.28M | shares |
| LGNLEGENCE CORP | 175,000 | $5.39M | shares |
| VERINT SYSTEMS INCVERINT SYSTEMS INC | 4,626,000 | $4.54M | principal |
| FUBOTV INCFUBOTV INC | 4,538,000 | $4.49M | principal |
| NOVOCURE LTDNOVOCURE LTD | 4,337,000 | $4.31M | principal |
| GUESS INCGUESS INC | 3,621,000 | $3.59M | principal |
| Q2 HLDGS INCQ2 HLDGS INC | 2,701,000 | $2.68M | principal |
| BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC | 1,850,000 | $2.6M | principal |
| UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC | 1,503,000 | $2.21M | principal |
| Esperion Therapeutics IncEsperion Therapeutics Inc | 2,114,000 | $2.11M | principal |
| WAYFAIR INCWAYFAIR INC | 900,000 | $1.37M | principal |
| IRHYTHM HOLDINGS INCIRHYTHM HOLDINGS INC | 900,000 | $1.24M | principal |
| TGSTRANSPORTADORA DE GAS DEL SU | 56,522 | $1.19M | shares |
| FIVERR INTL LTDFIVERR INTL LTD | 1,049,000 | $1.05M | principal |
| EVOLENT HEALTH INCEVOLENT HEALTH INC | 1,015,000 | $818K | principal |
| TPICQTPI COMPOSITES INC COM | 4,610,003 | $143K | shares |
How Q4 2025 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0000949509-26-000001 | base | 2026-02-17 | acceptance time not in the bulk data set |