Asset Manager · CIK 0000949509

Howard Marks

Oaktree Capital

Mega-Fund

Howard Marks runs Oaktree Capital, an asset manager overseeing $6.17T in disclosed equity holdings (SEC CIK 0000949509). The latest portfolio (2025Q4) discloses 166 positions across 11 sectors, with the largest positions in EXE, TORM PLC and ANGLOGOLD ASHANTI PLC. On a mark-to-market basis the tracked portfolio has returned 40.2% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Track Howard's filings View holdings

Portfolio

$6.17T

Positions

166

Quarter

2025Q4

Filings tracked

1Y+40.2%3Y+430.5%Full performance →

Quarter

2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2 2023Q1

Holdings

Sorted by value · 2024Q1

Sector167 positions

G89479102TORM PLC

27.17%

of portfolio

Number of shares

51,006,538 sh

Holdings current value

$1728.16B

Avg closing price

$6366

Last action

Trimmed 21.7%

2025Q4

Current —

EXECHESAPEAKE ENERGY CORP

Energy·Oil & Gas E&P

9.75%

of portfolio

Number of shares

6,984,084 sh

Holdings current value

$620.40B

Avg closing price

$43928

-99.8%

Last action

Trimmed 0.0%

2025Q3

Current $97.36

GTXGARRETT MOTION INC

Consumer Cyclical·Auto Parts

6.89%

of portfolio

Number of shares

44,082,816 sh

Holdings current value

$438.18B

Avg closing price

$6954

Last action

Trimmed 25.1%

2025Q4

Current —

SB9SITIO ROYALTIES CORP

5.03%

of portfolio

Number of shares

12,935,120 sh

Holdings current value

$319.76B

Avg closing price

$43.64

Last action

Exited

2025Q3

Current —

RWAYRUNWAY GROWTH FINANCE CORP

Financial Services·Asset Management

2.95%

of portfolio

Number of shares

15,492,167 sh

Holdings current value

$187.77B

Avg closing price

$13.58

Last action

Trimmed 7.5%

2025Q4

Current —

INFNEURINFINERA CORP

2.39%

of portfolio

Number of shares

25,175,384 sh

Holdings current value

$151.81B

Avg closing price

$4931

Last action

Exited

2025Q1

Current —

Y8162K204STAR BULK CARRIERS CORP.

2.29%

of portfolio

Number of shares

6,107,983 sh

Holdings current value

$145.80B

Avg closing price

$9859

Last action

Trimmed 17.2%

2025Q3

Current —

STKLSUNOPTA INC

Consumer Defensive·Beverages - Non-Alcoholic

2.24%

of portfolio

Number of shares

20,726,126 sh

Holdings current value

$142.39B

Avg closing price

$12078

Last action

New holding

2022Q1

Current —

VALEVALE S AADR

Basic Materials·Other Industrial Metals & Mining

2.21%

of portfolio

Number of shares

11,516,869 sh

Holdings current value

$140.39B

Avg closing price

$10996

-99.8%

Last action

Trimmed 0.1%

2025Q4

Current $17.43

FCXFREEPORT-MCMORAN INC

Basic Materials·Copper

2.20%

of portfolio

Number of shares

2,973,713 sh

Holdings current value

$139.82B

Avg closing price

$11478

-99.4%

Last action

Trimmed 3.7%

2025Q4

Current $68.28

G0378L100ANGLOGOLD ASHANTI PLC

2.09%

of portfolio

Number of shares

6,000,051 sh

Holdings current value

$133.20B

Avg closing price

$16615

Last action

Trimmed 5.3%

2025Q4

Current —

CXCEMEX SAB DE CVADR

Basic Materials·Building Materials

1.98%

of portfolio

Number of shares

13,989,032 sh

Holdings current value

$126.04B

Avg closing price

$6116

Last action

Trimmed 25.1%

2025Q4

Current —

VISTVISTA OIL & GAS SAB DE CVADR

Energy·Oil & Gas E&P

1.59%

of portfolio

Number of shares

2,439,714 sh

Holdings current value

$100.96B

Avg closing price

$4149

Last action

Trimmed 30.3%

2025Q4

Current —

BBDBANCO BRADESCO S AADR

Financial Services·Banks - Regional

1.58%

of portfolio

Number of shares

35,048,124 sh

Holdings current value

$100.24B

Avg closing price

$2653

Last action

Exited

2024Q4

Current —

CBLCBL & ASSOC PPTYS INCREIT

Real Estate·REIT - Retail

1.44%

of portfolio

Number of shares

4,012,257 sh

Holdings current value

$91.92B

Avg closing price

$204.85

Last action

Trimmed 10.8%

2025Q4

Current —

PBRPETROLEO BRASILEIRO SA PETROADR

Energy·Oil & Gas Integrated

1.22%

of portfolio

Number of shares

5,099,509 sh

Holdings current value

$77.56B

Avg closing price

$7297

Last action

Exited

2025Q2

Current —

IBNICICI BANK LIMITEDADR

Financial Services·Banks - Regional

1.18%

of portfolio

Number of shares

2,851,796 sh

Holdings current value

$75.32B

Avg closing price

$7979

Last action

Exited

2024Q2

Current —

G4766E116INDIVIOR PLC

1.13%

of portfolio

Number of shares

3,351,236 sh

Holdings current value

$71.71B

Avg closing price

$618.26

Last action

Trimmed 98.7%

2025Q4

Current —

Y2187A150EAGLE BULK SHIPPING INC

1.08%

of portfolio

Number of shares

1,098,819 sh

Holdings current value

$68.64B

Avg closing price

$36120

Last action

Exited

2024Q2

Current —

KRCKILROY RLTY CORPREIT

Real Estate·REIT - Office

1.06%

of portfolio

Number of shares

1,850,011 sh

Holdings current value

$67.40B

Avg closing price

$32316

Last action

Added 14.6%

2022Q4

Current —

ITUBITAU UNIBANCO HLDG S AADR

Financial Services·Banks - Regional

1.02%

of portfolio

Number of shares

9,393,251 sh

Holdings current value

$65.10B

Avg closing price

$6506

Last action

Added 14.0%

2025Q4

Current —

JDJD.COM INCADR

Consumer Cyclical·Internet Retail

0.96%

of portfolio

Number of shares

2,218,157 sh

Holdings current value

$60.76B

Avg closing price

$29484

Last action

Exited

2025Q2

Current —

HTHTHUAZHU GROUP LTDADR

Consumer Cyclical·Lodging

0.75%

of portfolio

Number of shares

1,225,490 sh

Holdings current value

$47.43B

Avg closing price

$34189

Last action

Exited

2025Q2

Current —

BIDUBAIDU INCADR

Communication Services·Internet Content & Information

0.70%

of portfolio

Number of shares

422,866 sh

Holdings current value

$44.52B

Avg closing price

$107422

-99.9%

Last action

Exited

2025Q2

Current $125.03

TXTERNIUM SAADR

Basic Materials·Steel

0.64%

of portfolio

Number of shares

975,337 sh

Holdings current value

$40.59B

Avg closing price

$24073

Last action

Trimmed 19.7%

2025Q4

Current —

OCSLOAKTREE SPECIALTY LENDING CO

Financial Services·Asset Management

0.57%

of portfolio

Number of shares

1,852,456 sh

Holdings current value

$36.42B

Avg closing price

$1915

Last action

New holding

2023Q1

Current —

L01800108ALVOTECH

0.56%

of portfolio

Number of shares

2,899,201 sh

Holdings current value

$35.43B

Avg closing price

$866.39

Last action

Trimmed 26.2%

2025Q4

Current —

NMIHNMI HLDGS INC

Financial Services·Insurance - Specialty

0.54%

of portfolio

Number of shares

1,057,790 sh

Holdings current value

$34.21B

Avg closing price

$4620

Last action

Exited

2024Q2

Current —

LILI AUTO INCADR

Consumer Cyclical·Auto Manufacturers

0.47%

of portfolio

Number of shares

983,320 sh

Holdings current value

$29.77B

Avg closing price

$30280

Last action

Exited

2024Q2

Current —

BRYBERRY CORP

0.47%

of portfolio

Number of shares

3,697,000 sh

Holdings current value

$29.76B

Avg closing price

$11160

Last action

Exited

2025Q3

Current —

CABO 0 03/15/26CABLE ONE INC

0.44%

of portfolio

Number of shares

32,173,000 sh

Holdings current value

$28.18B

Avg closing price

$618.31

Last action

Added 0.4%

2025Q4

Current —

BAKBRASKEM S AADR

0.34%

of portfolio

Number of shares

2,026,792 sh

Holdings current value

$21.34B

Avg closing price

$10555

Last action

Exited

2025Q3

Current —

TEOTELECOM ARGENTINA SAADR

Communication Services·Telecom Services

0.33%

of portfolio

Number of shares

2,649,356 sh

Holdings current value

$21.06B

Avg closing price

$9829

Last action

Trimmed 9.6%

2025Q4

Current —

BMABANCO MACRO SAADR

Financial Services·Banks - Regional

0.33%

of portfolio

Number of shares

434,300 sh

Holdings current value

$20.92B

Avg closing price

$49280

Last action

Exited

2025Q3

Current —

SMRTSMARTRENT INC

Technology·Software - Application

0.32%

of portfolio

Number of shares

7,505,294 sh

Holdings current value

$20.11B

Avg closing price

$3.42

Last action

Added 71.4%

2023Q1

Current —

91325V108UNITI GROUP INC

0.32%

of portfolio

Number of shares

3,397,592 sh

Holdings current value

$20.05B

Avg closing price

$11030

Last action

Exited

2025Q3

Current —

L01800116ALVOTECH SA

0.31%

of portfolio

Number of shares

4,666,667 sh

Holdings current value

$20.00B

Avg closing price

$0.84

Last action

New holding

2022Q2

Current —

YUMCYUM CHINA HLDGS INC

Consumer Cyclical·Restaurants

0.30%

of portfolio

Number of shares

486,057 sh

Holdings current value

$19.34B

Avg closing price

$39840

Last action

Exited

2025Q1

Current —

JBLU 0.5 04/01/26JETBLUE AIRWAYS CORP

0.30%

of portfolio

Number of shares

21,864,000 sh

Holdings current value

$19.19B

Avg closing price

$883.87

Last action

Added

2025Q4

Current —

JOYYJOYY INCADR

Communication Services·Internet Content & Information

0.30%

of portfolio

Number of shares

616,648 sh

Holdings current value

$18.96B

Avg closing price

$31967

Last action

Exited

2024Q4

Current —

BATLBATTALION OIL CORP

0.27%

of portfolio

Number of shares

3,009,912 sh

Holdings current value

$17.04B

Avg closing price

$10867

Last action

Trimmed 0.1%

2025Q4

Current —

TGSTRANSPORTADORA DE GAS SURADR

0.25%

of portfolio

Number of shares

1,068,558 sh

Holdings current value

$16.14B

Avg closing price

$9803

Last action

Exited

2025Q4

Current —

MXMAGNACHIP SEMICONDUCTOR CORP

0.25%

of portfolio

Number of shares

2,849,858 sh

Holdings current value

$15.90B

Avg closing price

$10320

Last action

Added 23.9%

2023Q2

Current —

05501U106AZUL S A

0.22%

of portfolio

Number of shares

1,830,850 sh

Holdings current value

$14.23B

Avg closing price

$7294

Last action

Exited

2024Q3

Current —

BHCBAUSCH HEALTH COS INC

Healthcare·Drug Manufacturers - Specialty & Generic

0.22%

of portfolio

Number of shares

1,300,000 sh

Holdings current value

$13.79B

Avg closing price

$8220

-99.9%

Last action

Trimmed 2.3%

2024Q2

Current $5.82

TPICQTPI COMPOSITES INC

0.21%

of portfolio

Number of shares

4,600,642 sh

Holdings current value

$13.39B

Avg closing price

$3513

Last action

Exited

2025Q4

Current —

SEALTD 0.25 09/15/26SEA LTD

0.21%

of portfolio

Number of shares

15,241,000 sh

Holdings current value

$13.10B

Avg closing price

$821.62

Last action

Added 13.6%

2025Q4

Current —

STHOSTAR HLDGS

Real Estate·Real Estate Services

0.20%

of portfolio

Number of shares

1,000,000 sh

Holdings current value

$12.92B

Avg closing price

$3683

Last action

Exited

2024Q3

Current —

AGCN 0.375 01/15/27FIRST MAJESTIC SILVER CORP

0.20%

of portfolio

Number of shares

16,354,000 sh

Holdings current value

$12.77B

Avg closing price

$871.90

Last action

Exited

2025Q4

Current —

SEDG 0 09/15/25SOLAREDGE TECHNOLOGIES INC

0.19%

of portfolio

Number of shares

13,388,000 sh

Holdings current value

$12.27B

Avg closing price

$935.52

Last action

Exited

2025Q2

Current —

ONITOCWEN FINL CORP

Financial Services·Mortgage Finance

0.19%

of portfolio

Number of shares

451,029 sh

Holdings current value

$12.18B

Avg closing price

$23.76

Last action

New holding

2025Q4

Current —

W 1 08/15/26WAYFAIR INC

0.18%

of portfolio

Number of shares

12,572,000 sh

Holdings current value

$11.65B

Avg closing price

$274.15

Last action

Exited

2024Q2

Current —

269442AA7EAGLE BULK SHIPPING INC

0.18%

of portfolio

Number of shares

5,745,000 sh

Holdings current value

$11.37B

Avg closing price

$1.97

Last action

Exited

2024Q3

Current —

PRFT 0.125 11/15/26PERFICIENT INC

0.17%

of portfolio

Number of shares

12,741,000 sh

Holdings current value

$11.04B

Avg closing price

$539.15

Last action

Exited

2024Q4

Current —

F 0 03/15/26FORD MTR CO DEL

0.17%

of portfolio

Number of shares

10,319,000 sh

Holdings current value

$10.72B

Avg closing price

$283.04

Last action

New holding

2025Q4

Current —

RWT 5.75 10/01/25RWT HLDGS INC

0.17%

of portfolio

Number of shares

11,022,000 sh

Holdings current value

$10.69B

Avg closing price

$700.65

Last action

Exited

2025Q1

Current —

HIMSHIMS & HERS HEALTH INC

Healthcare·Drug Manufacturers - Specialty & Generic

0.16%

of portfolio

Number of shares

666,962 sh

Holdings current value

$10.32B

Avg closing price

$13230

-99.8%

Last action

Exited

2024Q4

Current $26.99

ALRM 0 01/15/26ALARM COM HLDGS INC

0.16%

of portfolio

Number of shares

11,167,000 sh

Holdings current value

$10.28B

Avg closing price

$879.53

Last action

Added 28.0%

2025Q4

Current —

SNAP 0.125 03/01/28SNAP INC

0.16%

of portfolio

Number of shares

13,095,000 sh

Holdings current value

$10.01B

Avg closing price

$748.37

Last action

Trimmed 12.8%

2025Q4

Current —

AKAM 0.375 09/01/27AKAMAI TECHNOLOGIES INC

0.15%

of portfolio

Number of shares

9,078,000 sh

Holdings current value

$9.60B

Avg closing price

$1009

Last action

Exited

2025Q1

Current —

CAKE 0.375 06/15/26CHEESECAKE FACTORY INC/THE

0.14%

of portfolio

Number of shares

10,137,000 sh

Holdings current value

$9.07B

Avg closing price

$696.13

Last action

New holding

2025Q4

Current —

PEB 1.75 12/15/26PEBBLEBROOK HOTEL TR

0.14%

of portfolio

Number of shares

9,996,000 sh

Holdings current value

$9.02B

Avg closing price

$944.79

Last action

Added

2025Q4

Current —

ENV 2.625 12/01/27ENVESTNET INC

0.14%

of portfolio

Number of shares

8,449,000 sh

Holdings current value

$8.97B

Avg closing price

$1015

Last action

Exited

2024Q3

Current —

BABAALIBABA GROUP HLDG LTDADR

Consumer Cyclical·Internet Retail

0.14%

of portfolio

Number of shares

122,246 sh

Holdings current value

$8.85B

Avg closing price

$111402

-99.9%

Last action

Exited

2024Q4

Current $138.59

PAMPAMPA ENERGIA S AADR

Industrials·Conglomerates

0.14%

of portfolio

Number of shares

203,767 sh

Holdings current value

$8.79B

Avg closing price

$24956

Last action

Exited

2025Q1

Current —

VAC 3.25 12/15/27MARRIOTT VACATIONS WORLDWIDE CORP

0.13%

of portfolio

Number of shares

8,520,000 sh

Holdings current value

$8.03B

Avg closing price

$937.14

Last action

Added 114.0%

2025Q4

Current —

LYV 3.125 01/15/29LIVE NATION ENTERTAINMENT IN

0.12%

of portfolio

Number of shares

6,524,000 sh

Holdings current value

$7.86B

Avg closing price

$1205

Last action

Exited

2024Q4

Current —

DOCN 0 12/01/26DIGITALOCEAN HOLDINGS INC

0.12%

of portfolio

Number of shares

9,318,000 sh

Holdings current value

$7.86B

Avg closing price

$281.28

Last action

Trimmed 1.6%

2025Q4

Current —

HTZHERTZ GLOBAL HLDGS INC

Industrials·Rental & Leasing Services

0.12%

of portfolio

Number of shares

1,000,000 sh

Holdings current value

$7.83B

Avg closing price

$24.65

-71.7%

Last action

Exited

2024Q2

Current $6.98

HAE 0 03/01/26HAEMONETICS CORP MASS

0.12%

of portfolio

Number of shares

8,398,000 sh

Holdings current value

$7.75B

Avg closing price

$848.44

Last action

Added 221.3%

2025Q4

Current —

TDOC 1.25 06/01/27TELADOC HEALTH INC

0.12%

of portfolio

Number of shares

9,142,000 sh

Holdings current value

$7.72B

Avg closing price

$846.79

Last action

Trimmed 19.1%

2025Q4

Current —

GMED 0.375 03/15/25NUVASIVE INC

0.12%

of portfolio

Number of shares

8,029,000 sh

Holdings current value

$7.67B

Avg closing price

$161.47

Last action

Exited

2025Q1

Current —

DAY 0.25 03/15/26DAYFORCE INC

0.12%

of portfolio

Number of shares

8,255,000 sh

Holdings current value

$7.59B

Avg closing price

$798.01

Last action

Added

2025Q4

Current —

LITE 0.5 06/15/28LUMENTUM HLDGS INC

0.12%

of portfolio

Number of shares

9,719,000 sh

Holdings current value

$7.55B

Avg closing price

$799.53

Last action

Exited

2025Q2

Current —

HTHT 3 05/01/26H WORLD GROUP LTD

0.12%

of portfolio

Number of shares

6,485,000 sh

Holdings current value

$7.51B

Avg closing price

$1112

Last action

Exited

2025Q3

Current —

NMFC 7.5 10/15/25NEW MTN FIN CORP

0.12%

of portfolio

Number of shares

7,353,000 sh

Holdings current value

$7.49B

Avg closing price

$1019

Last action

Exited

2025Q1

Current —

CBRL 0.625 06/15/26CRACKER BARREL OLD CTRY STOR

0.12%

of portfolio

Number of shares

8,375,000 sh

Holdings current value

$7.39B

Avg closing price

$958.48

Last action

Added 17719.1%

2025Q4

Current —

SPOT 0 03/15/26SPOTIFY USA INC

0.11%

of portfolio

Number of shares

7,834,000 sh

Holdings current value

$7.21B

Avg closing price

$12.48

Last action

New holding

2025Q4

Current —

ON 0.5 03/01/29On Semiconductor Corp - US

0.11%

of portfolio

Number of shares

7,262,000 sh

Holdings current value

$7.18B

Avg closing price

$901.13

Last action

Exited

2025Q3

Current —

29975EAD1EVENTBRITE INC

0.11%

of portfolio

Number of shares

8,423,000 sh

Holdings current value

$7.09B

Avg closing price

$414.07

Last action

Exited

2025Q1

Current —

FWONK 2.25 08/15/27LIBERTY MEDIA CORP DEL

0.11%

of portfolio

Number of shares

6,875,000 sh

Holdings current value

$7.07B

Avg closing price

$1019

Last action

Exited

2025Q2

Current —

YPFYPF SOCIEDAD ANONIMAADR

Energy·Oil & Gas Integrated

0.11%

of portfolio

Number of shares

355,091 sh

Holdings current value

$7.03B

Avg closing price

$15973

Last action

Exited

2025Q3

Current —

INN 1.5 02/15/26SUMMIT HOTEL PPTYS

0.11%

of portfolio

Number of shares

7,796,000 sh

Holdings current value

$6.98B

Avg closing price

$966.63

Last action

Trimmed 50.3%

2025Q4

Current —

TTGT 0 12/15/26TECHTARGET INC

0.11%

of portfolio

Number of shares

7,244,000 sh

Holdings current value

$6.92B

Avg closing price

$382.23

Last action

Exited

2024Q4

Current —

00922RAB1AIR TRANSPORT SERVICES GRP I

0.10%

of portfolio

Number of shares

6,833,000 sh

Holdings current value

$6.67B

Avg closing price

$970.19

Last action

Exited

2024Q3

Current —

U 0 11/15/26UNITY SOFTWARE INC

0.10%

of portfolio

Number of shares

7,588,000 sh

Holdings current value

$6.47B

Avg closing price

$799.41

Last action

Added 235.3%

2025Q4

Current —

NTNX 0.25 10/01/27NUTANIX INC

0.10%

of portfolio

Number of shares

5,251,000 sh

Holdings current value

$6.46B

Avg closing price

$574.14

Last action

New holding

2025Q4

Current —

653656AB4NICE LTD

0.10%

of portfolio

Number of shares

5,981,000 sh

Holdings current value

$6.27B

Avg closing price

$799.63

Last action

Exited

2025Q3

Current —

AFRM 0 11/15/26AFFIRM HLDGS INC

0.10%

of portfolio

Number of shares

7,385,000 sh

Holdings current value

$6.15B

Avg closing price

$765.18

Last action

Added 14.5%

2025Q4

Current —

EGHT 4 02/01/288X8 INC NEW

0.10%

of portfolio

Number of shares

7,542,000 sh

Holdings current value

$6.09B

Avg closing price

$853.71

Last action

Exited

2025Q1

Current —

SHAK 0 03/01/28SHAKE SHACK INC

0.09%

of portfolio

Number of shares

6,222,000 sh

Holdings current value

$5.67B

Avg closing price

$669.91

Last action

Trimmed 49.2%

2025Q4

Current —

NRG 2.75 06/01/48NRG ENERGY INC

0.09%

of portfolio

Number of shares

3,408,000 sh

Holdings current value

$5.65B

Avg closing price

$1083

Last action

Exited

2024Q2

Current —

INVA 2.125 03/15/28INNOVIVA INC

0.08%

of portfolio

Number of shares

6,047,000 sh

Holdings current value

$5.37B

Avg closing price

$832.90

Last action

Exited

2024Q4

Current —

302301AE6EZCORP INC

0.08%

of portfolio

Number of shares

5,277,000 sh

Holdings current value

$5.24B

Avg closing price

$813.20

Last action

Exited

2025Q2

Current —

ASND 2.25 04/01/28ASCENDIS PHARMA A/S

0.08%

of portfolio

Number of shares

4,489,000 sh

Holdings current value

$5.19B

Avg closing price

$1140

Last action

Trimmed 6.3%

2025Q4

Current —

NET 0 08/15/26CLOUDFLARE INC

0.08%

of portfolio

Number of shares

5,310,000 sh

Holdings current value

$4.99B

Avg closing price

$382.45

Last action

Exited

2025Q3

Current —

BL 0 03/15/26BLACKLINE INC

0.08%

of portfolio

Number of shares

5,374,000 sh

Holdings current value

$4.89B

Avg closing price

$658.31

Last action

New holding

2025Q4

Current —

ATEC 0.75 08/01/26ALPHATEC HLDGS INC

0.08%

of portfolio

Number of shares

4,684,000 sh

Holdings current value

$4.89B

Avg closing price

$946.47

Last action

Exited

2025Q1

Current —

NCLH 1.125 02/15/27NCL CORP LTD

0.07%

of portfolio

Number of shares

4,984,000 sh

Holdings current value

$4.73B

Avg closing price

$866.42

Last action

Exited

2025Q2

Current —

100

PMT 5.5 03/15/26PENNYMAC MORTGAGE INVESTMENT TRUST

0.07%

of portfolio

Number of shares

4,949,000 sh

Holdings current value

$4.72B

Avg closing price

$984.23

Last action

Added

2025Q4

Current —

101

59064RAA7MESA LABS INC

0.07%

of portfolio

Number of shares

4,760,000 sh

Holdings current value

$4.50B

Avg closing price

$919.90

Last action

Exited

2025Q3

Current —

102

ETSY 0.125 10/01/26ETSY INC

0.07%

of portfolio

Number of shares

4,148,000 sh

Holdings current value

$4.41B

Avg closing price

$1020

Last action

Exited

2024Q4

Current —

103

LNTH 2.625 12/15/27LANTHEUS HLDGS INC

0.07%

of portfolio

Number of shares

3,856,000 sh

Holdings current value

$4.28B

Avg closing price

$1102

Last action

Added

2025Q4

Current —

104

G4939KAF3IQIYI INC

0.07%

of portfolio

Number of shares

4,400,000 sh

Holdings current value

$4.18B

Avg closing price

$950.00

Last action

Exited

2024Q3

Current —

105

UPWK 0.25 08/15/26UPWORK INC

0.06%

of portfolio

Number of shares

4,571,000 sh

Holdings current value

$4.01B

Avg closing price

$941.77

Last action

Added 109.8%

2025Q4

Current —

106

ETSY 0.25 06/15/28ETSY INC

0.06%

of portfolio

Number of shares

5,023,000 sh

Holdings current value

$3.97B

Avg closing price

$799.55

Last action

Added

2025Q4

Current —

107

BXMT 5.5 03/15/27BLACKSTONE MORTGAGE TRUST IN

0.06%

of portfolio

Number of shares

4,353,000 sh

Holdings current value

$3.93B

Avg closing price

$952.89

Last action

Added

2025Q4

Current —

108

CHGG 0 09/01/26CHEGG INC

0.06%

of portfolio

Number of shares

4,394,000 sh

Holdings current value

$3.68B

Avg closing price

$172.87

Last action

Exited

2024Q3

Current —

109

FVRR 0 11/01/25FIVERR INTL LTD

0.06%

of portfolio

Number of shares

3,905,000 sh

Holdings current value

$3.52B

Avg closing price

$668.99

Last action

Exited

2025Q4

Current —

110

HALO 1 08/15/28HALOZYME THERAPEUTICS INC

0.06%

of portfolio

Number of shares

3,592,000 sh

Holdings current value

$3.50B

Avg closing price

$1011

Last action

Exited

2024Q4

Current —

111

SMTC 1.625 11/01/27SEMTECH CORP

0.05%

of portfolio

Number of shares

3,515,000 sh

Holdings current value

$3.47B

Avg closing price

$859.50

Last action

Exited

2024Q2

Current —

112

SSRMCN 2.5 04/01/39SSR MNG INC

0.05%

of portfolio

Number of shares

3,719,000 sh

Holdings current value

$3.33B

Avg closing price

$978.91

Last action

Exited

2025Q3

Current —

113

GPRE 2.25 03/15/27GREEN PLAINS INC

0.05%

of portfolio

Number of shares

3,240,000 sh

Holdings current value

$3.32B

Avg closing price

$1018

Last action

New holding

2025Q4

Current —

114

POST 2.5 08/15/27POST HLDGS INC

0.05%

of portfolio

Number of shares

2,894,000 sh

Holdings current value

$3.26B

Avg closing price

$1102

Last action

Added 87.4%

2025Q4

Current —

115

FOUR 0 12/15/25SHIFT4 PMTS INC

0.05%

of portfolio

Number of shares

2,950,000 sh

Holdings current value

$3.17B

Avg closing price

$218.74

Last action

Exited

2024Q4

Current —

116

ARRY 1 12/01/28ARRAY TECHNOLOGIES INC

0.05%

of portfolio

Number of shares

3,389,000 sh

Holdings current value

$3.15B

Avg closing price

$880.80

Last action

Added

2025Q4

Current —

117

HOUS 0.25 06/15/26REALOGY GRP LLC/REALOGY CO

0.05%

of portfolio

Number of shares

3,848,000 sh

Holdings current value

$3.07B

Avg closing price

$867.20

Last action

Exited

2025Q3

Current —

118

00437EAB8ACCOLADE INC

0.05%

of portfolio

Number of shares

3,516,000 sh

Holdings current value

$3.07B

Avg closing price

$835.11

Last action

Exited

2024Q2

Current —

119

FOUR 0.5 08/01/27SHIFT4 PAYMENTS INC

0.05%

of portfolio

Number of shares

3,282,000 sh

Holdings current value

$3.06B

Avg closing price

$896.82

Last action

Exited

2025Q4

Current —

120

04916EAB0ATLANTICA SUSTAINABLE INFRA

0.05%

of portfolio

Number of shares

3,161,000 sh

Holdings current value

$3.05B

Avg closing price

$932.44

Last action

Exited

2024Q4

Current —

121

UPST 0.25 08/15/26UPSTART HOLDINGS INC

0.05%

of portfolio

Number of shares

3,867,000 sh

Holdings current value

$3.04B

Avg closing price

$792.61

Last action

Trimmed 52.3%

2025Q4

Current —

122

090040AF3BILIBILI INC

0.05%

of portfolio

Number of shares

3,062,000 sh

Holdings current value

$2.94B

Avg closing price

$912.81

Last action

Exited

2024Q4

Current —

123

BBIO 2.25 02/01/29BRIDGEBIO PHARMA INC

0.05%

of portfolio

Number of shares

3,529,000 sh

Holdings current value

$2.89B

Avg closing price

$828.86

Last action

Trimmed 69.9%

2025Q4

Current —

124

ALNY 1 09/15/27ALNYLAM PHARMACEUTICALS INC

0.04%

of portfolio

Number of shares

2,931,000 sh

Holdings current value

$2.77B

Avg closing price

$930.05

Last action

Exited

2025Q3

Current —

125

LYFT 1.5 05/15/25LYFT INC

0.04%

of portfolio

Number of shares

2,813,000 sh

Holdings current value

$2.75B

Avg closing price

$745.81

Last action

Exited

2024Q2

Current —

126

98426TAF3JOYY INC

0.04%

of portfolio

Number of shares

2,751,000 sh

Holdings current value

$2.72B

Avg closing price

$320.63

Last action

Exited

2024Q2

Current —

127

91854V206VACASA INC

0.04%

of portfolio

Number of shares

397,288 sh

Holdings current value

$2.71B

Avg closing price

$5433

Last action

Exited

2025Q2

Current —

128

90041LAE5TURNING PT BRANDS INC

0.04%

of portfolio

Number of shares

2,714,000 sh

Holdings current value

$2.67B

Avg closing price

$559.14

Last action

Exited

2024Q3

Current —

129

LNT 3.875 03/15/26ALLIANT ENERGY CORP

0.04%

of portfolio

Number of shares

2,600,000 sh

Holdings current value

$2.57B

Avg closing price

$988.50

Last action

Exited

2025Q2

Current —

130

ABR 7.5 08/01/25ARBOR REALTY TRUST INC

0.04%

of portfolio

Number of shares

2,493,000 sh

Holdings current value

$2.45B

Avg closing price

$1015

Last action

Exited

2025Q1

Current —

131

PDD 0 12/01/25PDD HOLDINGS INC

0.04%

of portfolio

Number of shares

2,500,000 sh

Holdings current value

$2.42B

Avg closing price

$364.84

Last action

Exited

2024Q2

Current —

132

NEO 0.25 01/15/28NEOGENOMICS INC

0.04%

of portfolio

Number of shares

2,948,000 sh

Holdings current value

$2.35B

Avg closing price

$838.73

Last action

Added

2025Q4

Current —

133

SRPT 1.25 09/15/27SAREPTA THERAPEUTICS INC

0.04%

of portfolio

Number of shares

2,000,000 sh

Holdings current value

$2.34B

Avg closing price

$917.78

Last action

Exited

2025Q4

Current —

134

BBIO 2.5 03/15/27BRIDGEBIO PHARMA INC

0.03%

of portfolio

Number of shares

1,993,000 sh

Holdings current value

$2.15B

Avg closing price

$1133

Last action

Exited

2025Q4

Current —

135

INSM 0.75 06/01/28INSMED INC

0.03%

of portfolio

Number of shares

1,993,000 sh

Holdings current value

$2.14B

Avg closing price

$0.97

Last action

Exited

2025Q1

Current —

136

TYL 0.25 03/15/26TYLER TEX INDPT SCH DIST

0.03%

of portfolio

Number of shares

2,100,000 sh

Holdings current value

$2.12B

Avg closing price

$1.06

Last action

New holding

2025Q4

Current —

137

AAL 6.5 07/01/25AMERICAN AIRLINES GROUP INC

0.03%

of portfolio

Number of shares

1,800,000 sh

Holdings current value

$2.09B

Avg closing price

$1325

Last action

Exited

2025Q3

Current —

138

70932AAD5PENNYMAC MORTGAGE INVESTMENT TRUST

0.03%

of portfolio

Number of shares

2,100,000 sh

Holdings current value

$2.08B

Avg closing price

$814.54

Last action

Exited

2024Q4

Current —

139

XYZ 0 05/01/26BLOCK INC

0.03%

of portfolio

Number of shares

2,181,000 sh

Holdings current value

$1.96B

Avg closing price

$973.82

Last action

Added

2025Q4

Current —

140

BAND 0.5 04/01/28BANDWIDTH INC

0.03%

of portfolio

Number of shares

2,603,000 sh

Holdings current value

$1.89B

Avg closing price

$813.30

Last action

Added

2025Q4

Current —

141

IONS 0 04/01/26IONIS PHARMACEUTICALS INC

0.03%

of portfolio

Number of shares

1,900,000 sh

Holdings current value

$1.88B

Avg closing price

$211.24

Last action

Exited

2024Q2

Current —

142

QTWO 0.125 11/15/25Q2 HOLDINGS INC

0.03%

of portfolio

Number of shares

1,989,000 sh

Holdings current value

$1.85B

Avg closing price

$902.31

Last action

Exited

2025Q4

Current —

143

NOG 3.625 04/15/29NORTHERN OIL & GAS INC

0.03%

of portfolio

Number of shares

1,400,000 sh

Holdings current value

$1.71B

Avg closing price

$1184

Last action

Exited

2024Q4

Current —

144

SEALTD 2.375 12/01/25SEA LTD

0.03%

of portfolio

Number of shares

1,700,000 sh

Holdings current value

$1.71B

Avg closing price

$218.79

Last action

Exited

2024Q2

Current —

145

PODD 0.375 09/01/26INSULET CORP

0.02%

of portfolio

Number of shares

1,500,000 sh

Holdings current value

$1.56B

Avg closing price

$1334

Last action

Exited

2024Q3

Current —

146

BSY 0.375 07/01/27BENTLEY SYS INC

0.02%

of portfolio

Number of shares

1,725,000 sh

Holdings current value

$1.56B

Avg closing price

$721.14

Last action

Added

2025Q4

Current —

147

Z 1.375 09/01/26ZILLOW GROUP INC

0.02%

of portfolio

Number of shares

1,250,000 sh

Holdings current value

$1.55B

Avg closing price

$0.98

Last action

Exited

2024Q3

Current —

148

PRGS 1 04/15/26PROGRESS SOFTWARE CORP

0.02%

of portfolio

Number of shares

1,489,000 sh

Holdings current value

$1.55B

Avg closing price

$0.97

Last action

Exited

2024Q2

Current —

149

SIRI 3.75 03/15/28LIBERTY MEDIA CORP DEL

0.02%

of portfolio

Number of shares

1,250,000 sh

Holdings current value

$1.54B

Avg closing price

$1230

Last action

Exited

2024Q2

Current —

150

HDBHDFC BANK LTDADR

Financial Services·Banks - Regional

0.02%

of portfolio

Number of shares

26,206 sh

Holdings current value

$1.47B

Avg closing price

$49596

Last action

Trimmed 44.2%

2025Q4

Current —

151

RDFN 0.5 04/01/27REDFIN CORP 0.500 04/01/27 CVT

0.02%

of portfolio

Number of shares

2,557,000 sh

Holdings current value

$1.43B

Avg closing price

$788.96

Last action

Added

2025Q4

Current —

152

EEFT 0.75 03/15/49EURONET WORLDWIDE INC

0.02%

of portfolio

Number of shares

1,406,000 sh

Holdings current value

$1.37B

Avg closing price

$1036

Last action

Exited

2024Q2

Current —

153

ENPH 0 03/01/26ENPHASE ENERGY INC

0.02%

of portfolio

Number of shares

1,385,000 sh

Holdings current value

$1.28B

Avg closing price

$952.40

Last action

Trimmed 60.8%

2025Q4

Current —

154

62914VAF3NIO INC

0.02%

of portfolio

Number of shares

1,361,000 sh

Holdings current value

$1.25B

Avg closing price

$487.30

Last action

Exited

2025Q1

Current —

155

44933TAB2I3 VERTICALS LLC

0.02%

of portfolio

Number of shares

1,273,000 sh

Holdings current value

$1.23B

Avg closing price

$277.67

Last action

Exited

2024Q3

Current —

156

EWWISHARES INCETF

0.02%

of portfolio

Number of shares

17,568 sh

Holdings current value

$1.22B

Avg closing price

$69310

-99.9%

Last action

Exited

2024Q2

Current $79.01

157

29975EAB5EVENTBRITE INC

0.02%

of portfolio

Number of shares

1,151,000 sh

Holdings current value

$1.14B

Avg closing price

$992.50

Last action

Exited

2024Q3

Current —

158

483548AF0KAMAN CORP

0.01%

of portfolio

Number of shares

852,000 sh

Holdings current value

$853.13M

Avg closing price

$424.46

Last action

Exited

2024Q2

Current —

159

XMTR 1 02/01/27XOMETRY INC

0.01%

of portfolio

Number of shares

1,056,000 sh

Holdings current value

$807.28M

Avg closing price

$812.72

Last action

Exited

2024Q4

Current —

160

COIN 0.5 06/01/26COINBASE GLOBAL INC

0.01%

of portfolio

Number of shares

702,000 sh

Holdings current value

$771.70M

Avg closing price

$655.80

Last action

Exited

2024Q2

Current —

161

TREE 0.5 07/15/25LENDINGTREE INC

0.01%

of portfolio

Number of shares

726,000 sh

Holdings current value

$679.75M

Avg closing price

$738.52

Last action

Exited

2025Q1

Current —

162

CFLT 0 01/15/27CONFLUENT INC

0.01%

of portfolio

Number of shares

782,000 sh

Holdings current value

$673.56M

Avg closing price

$838.80

Last action

Exited

2024Q2

Current —

163

14161WAB1CARDLYTICS INC

0.01%

of portfolio

Number of shares

704,000 sh

Holdings current value

$650.59M

Avg closing price

$928.32

Last action

Exited

2025Q1

Current —

164

EONREON RESOURCES INC

0.01%

of portfolio

Number of shares

220,080 sh

Holdings current value

$587.61M

Avg closing price

$9.96

Last action

Exited

2024Q2

Current —

165

INDAISHARES TRETF

0.01%

of portfolio

Number of shares

10,945 sh

Holdings current value

$564.65M

Avg closing price

$35532

Last action

Exited

2024Q2

Current —

166

MITK 0.75 02/01/26MITEK SYS INC

0.01%

of portfolio

Number of shares

326,000 sh

Holdings current value

$328.07M

Avg closing price

$984.11

Last action

New holding

2025Q4

Current —

167

27877D104ECD AUTOMOTIVE DESIGN INC

0.00%

of portfolio

Number of shares

75,000 sh

Holdings current value

$70.50M

Avg closing price

$1230

Last action

Exited

2025Q1

Current —

Portfolio heatmap

Box size = % of portfolio · color = return since filing

TORM PLC

27.17%

STAR BULK CARRIERS CORP.

2.29%

ANGLOGOLD ASHANTI PLC

2.09%

INDIVIOR PLC

1.13%

EAGLE BULK SHIPPING INC

1.08%

143 more

17.18%

Sector exposure

Share of dollar value across the latest reported portfolio. Unclassified positions excluded.

Energy4 pos$805.95B28.3%
Consumer Cyclical6 pos$604.33B21.2%
Financial Services9 pos$533.62B18.7%
Basic Materials4 pos$446.85B15.7%
Real Estate3 pos$172.24B6.0%
Consumer Defensive1 pos$142.39B5.0%
Communication Services3 pos$84.54B3.0%
Healthcare2 pos$24.11B0.8%
Technology1 pos$20.11B0.7%
Industrials2 pos$16.62B0.6%

(54.3% unclassified, excluded from %)