OAKTREE CAPITAL MANAGEMENT LP

Hedge Fund • Multi-Strategy

OAKTREE CAPITAL MANAGEMENT LP is a Multi-Strategy Hedge Fund based in Coopersburg, PA led by Armen Ryan Panossian, reporting $170.99B in AUM as of Q3 2025 with 63% concentrated in top 10 holdings and 18% allocation to TRMD.

CEOArmen Ryan Panossian

Portfolio Value: $4.7B
Positions: 54
Top Holding: TRMD at 17.68%
Last Reported: Q3 2025

Address6666 Passer Road, Suite 4, Coopersburg, PA, 18036, United States

Top Holdings

Largest long holdings in OAKTREE CAPITAL MANAGEMENT LP's portfolio (62.6% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 TORM plc TRMD	Oil & Gas Midstream Energy	$834.6M	17.68%	—	41.43% 40.6M shares	Q3 2018 Held for 7y 2m
2 Extendicare Inc. EXE	Unknown Unknown	$537.8M	11.39%	-$106.2 Sold	2.13% 5.1M shares	Q3 2024 Held for 1y 2m
3 Garrett Motion Inc. GTX	Auto - Parts Consumer Cyclical	$434.4M	9.20%	-$68.1M Sold	15.82% 31.9M shares	Q2 2021 Held for 4y 5m
4 AngloGold Ashanti AU	Gold Basic Materials	$294.3M	6.24%	-$53.6M Sold	0.83% 4.2M shares	Q4 2013 Held for 11y 11m
5 Viper Energy VNOM	Oil & Gas Midstream Energy	$240.2M	5.09%	+$240.2M New	3.72% 6.3M shares	Q3 2025 Held for 2 months
6 Telephone and Data Systems TDS	Telecommunications Services Communication Services	$144.7M	3.07%	+$144.7M New	3.21% 3.7M shares	Q3 2025 Held for 2 months
7 Talen Energy Corporation TLN	Unknown Unknown	$123.8M	2.62%	+$68.6M Bought	0.64% 291.1K shares	Q3 2024 Held for 1y 2m
8 SunOpta STKL	Packaged Foods Consumer Defensive	$121.4M	2.57%	—	17.54% 20.7M shares	Q1 2017 Held for 8y 8m
9 Core Scientific, Inc. CORZ	Software - Infrastructure Technology	$114.8M	2.43%	+$114.8M New	2.08% 6.4M shares	Q3 2025 Held for 2 months
10 Barnes Group B	Industrial - Machinery Industrials	$108.2M	2.29%	+$4.7M Bought	0.19% 3.3M shares	Q1 2025 Held for 8 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in OAKTREE CAPITAL MANAGEMENT LP's latest filing

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Market Value

$4.7B

Prior: $3.9B

Q/Q Change

+19.89%

+$783.2M

Net Flows % of MV

+6.93%

Turnover Ratio

17.77%

New Purchases

11 stocks

$730.0M

Added To

14 stocks

+$204.3M

Sold Out Of

9 stocks

$341.6M

Reduced Holdings

12 stocks

-$265.7M

Increased Positions

Position	Shares Δ	Change
1 Viper Energy VNOM	New	0 → 6.3M +$240.2M
2 Telephone and Data Systems TDS	New	0 → 3.7M +$144.7M
3 Core Scientific, Inc. CORZ	New	0 → 6.4M +$114.8M
4 Nu Holdings NU	New	0 → 4.5M +$72.3M
5 EchoStar SATS	New	0 → 600.0K +$45.8M

Decreased Positions

Position	Shares Δ	Change
1 Sitio Royalties STR	Sold	12.9M → 0 −$237.9M
2 Ecopetrol EC	Sold	3.5M → 0 −$31.4M
3 BEKE KE Holdings BEKE	Sold	1.5M → 0 −$26.8M
4 Uniti Group Inc. UNIT	Sold	3.4M → 0 −$14.7M
5 Berry Corporation BRY	Sold	3.7M → 0 −$10.2M

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Analytics

Portfolio insights and performance metrics for OAKTREE CAPITAL MANAGEMENT LP

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Sector Allocation

Energy

24.30%

Consumer Cyclical

9.20%

Basic Materials

8.00%

Communication Services

6.90%

Technology

5.40%

Industrials

5.10%

Financial Services

4.60%

Real Estate

3.80%

Consumer Defensive

2.60%

Utilities

1.90%

Healthcare

1.60%

Market Cap Distribution

Large Cap ($10B - $200B)

30.41%

Mid Cap ($2B - $10B)

47.67%

Small Cap ($300M - $2B)

9.82%

Micro Cap ($50M - $300M)

0.60%

Nano Cap (< $50M)

0.08%

N/A (ETF or Unknown)

11.42%

Portfolio Concentration

Top 10 Holdings %

62.58%

Top 20 Holdings %

81.38%

Top 50 Holdings %

99.88%

Top 100 Holdings %

100.0%