Oaktree Capital Management
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Howard Marks's Oaktree Capital Management reported 56 stock positions worth $5.7 billion. Its top holding was Torm PLC-A (TRMD) at 30.5% of the portfolio, followed by Expand Energy (EXE, 11.0%) and Garrett Motion (GTX, 7.7%). Compared with Q4 2023, it opened 13 new positions, sold out of 23, added to 13 and reduced 9. The biggest buy was a new position in Indivior (INDV) and the biggest sale Nmi (NMIH, shares −77%).
- Most Recent 13F
- Q2 2026
- Notable People
- Howard Marks
- Location
- LOS ANGELES, CA
- CIK
- 0000949509
- Portfolio Value
- $5.7B (Q1 2024)
- SEC Filing
- 0000949509-24-000004 ↗ filed May 14, 2024
Holdings Value
Holdings 56 stocks · $5.7B
| TRMD Torm PLC-A | 30.54% | 51,006,538 | $1.7B | No change |
| EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP | 10.96% | 6,984,084 | $620.4M | Reduce -0.2% |
| GTX Garrett Motion Inc. | 7.74% | 44,082,816 | $438.2M | No change |
| STR Sitio Royalties Corp. Class A | 5.65% | 12,935,120 | $319.8M | No change |
| RWAY Runway Growth Finance Corp. | 3.32% | 15,492,167 | $187.8M | Reduce -6.1% |
| INFN Infinera Corp. | 2.68% | 25,175,384 | $151.8M | No change |
| SBLK Star Bulk Carriers Corp. | 2.58% | 6,107,983 | $145.8M | No change |
| STKL Sunopta Inc. | 2.52% | 20,726,126 | $142.4M | No change |
| VALE Vale SA-SP ADR | 2.48% | 11,516,869 | $140.4M | Add +22.5% |
| FCX Freeport-McMoran Inc. | 2.47% | 2,973,713 | $139.8M | Add +1.9% |
| AU Anglogold Ashanti PLC | 2.35% | 6,000,051 | $133.2M | Add +2.1% |
| CX Cemex Sab-Spons ADR Part Cer | 2.23% | 13,989,032 | $126.0M | No change |
| VIST Vista Energy Sab DE CV | 1.78% | 2,439,714 | $101.0M | Add +1.8% |
| BBD Banco Bradesco-ADR | 1.77% | 35,048,124 | $100.2M | Add +2.1% |
| CBL CBL & Associates Properties | 1.62% | 4,012,257 | $91.9M | No change |
| PBR Petroleo Brasileiro-Spon ADR | 1.37% | 5,099,509 | $77.6M | Add +7.0% |
| IBN Icici Bank Ltd.-Spon ADR | 1.33% | 2,851,796 | $75.3M | Reduce -6.0% |
| INDV Indivior Ltd. | 1.27% | 3,351,236 | $71.7M | New |
| EAGLE BULK SHIPPING INC | 1.21% | 1,098,819 | $68.6M | New |
| KRC Kilroy Realty Corp. | 1.19% | 1,850,011 | $67.4M | No change |
| ITUB Itau Unibanco H-Spon PRF ADR | 1.15% | 9,393,251 | $65.1M | Add +2.4% |
| JD Jd.com Inc.-ADR | 1.07% | 2,218,157 | $60.8M | Add +2.1% |
| HTHT H World Group Ltd.-ADR | 0.84% | 1,225,490 | $47.4M | Add +12.3% |
| BIDU Baidu Inc. - Spon ADR | 0.79% | 422,866 | $44.5M | New |
| TX Ternium SA-Sponsored ADR | 0.72% | 975,337 | $40.6M | Add +1.8% |
| OCSL Oaktree Specialty Lending Co. | 0.64% | 1,852,456 | $36.4M | No change |
| ALVO Alvotech SA | 0.63% | 2,899,201 | $35.4M | Reduce -46.8% |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 0.60% | 1,057,790 | $34.2M | Reduce -77.4% |
| LI Li Auto Inc. - ADR | 0.53% | 983,320 | $29.8M | New |
| BRY Berry Corp. | 0.53% | 3,697,000 | $29.8M | No change |
| BAK Braskem SA Class A- ADR | 0.38% | 2,026,792 | $21.3M | New |
| TEO Telecom Argentina SA-SP ADR | 0.37% | 2,649,356 | $21.1M | Add +8.0% |
| BMA Banco Macro SA-ADR | 0.37% | 434,300 | $20.9M | New |
| SMRT Smartrent Inc. | 0.36% | 7,505,294 | $20.1M | No change |
| UNIT Uniti Group LLC Com SHS | 0.35% | 3,397,592 | $20.0M | No change |
| YUMC Yum China Holdings Inc. | 0.34% | 486,057 | $19.3M | New |
| JOYY Joyy Inc.-ADR | 0.34% | 616,648 | $19.0M | New |
| BATL Battalion Oil Corp. | 0.30% | 3,009,912 | $17.0M | No change |
| TGS Transportador Gas-ADR SP B | 0.29% | 1,068,558 | $16.1M | Reduce -19.6% |
| MX Magnachip Semiconductor Corp. | 0.28% | 2,849,858 | $15.9M | No change |
| AZUL S A | 0.25% | 1,830,850 | $14.2M | Add +15.8% |
| BHC Bausch Health Cos Inc. | 0.24% | 1,300,000 | $13.8M | No change |
| TPICQ Tpi Composites Inc. | 0.24% | 4,600,642 | $13.4M | No change |
| STHO Star Holdings filed as STAR HLDGS | 0.23% | 1,000,000 | $12.9M | No change |
| ONIT Onity Group Inc. filed as OCWEN FINL CORP | 0.22% | 451,029 | $12.2M | No change |
| HIMS Hims & Hers Health Inc. | 0.18% | 666,962 | $10.3M | Reduce -36.7% |
| BABA Alibaba Group Holding-SP ADR | 0.16% | 122,246 | $8.8M | Add +1.6% |
| PAM Pampa Energia SA-Spon ADR | 0.16% | 203,767 | $8.8M | Reduce -29.1% |
| HTZ Hertz Global Hldgs Inc. | 0.14% | 1,000,000 | $7.8M | No change |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.12% | 355,091 | $7.0M | New |
| VCSA Vacasa Inc. Class A | 0.05% | 397,288 | $2.7M | New |
| HDB HDFC Bank Ltd.-ADR | 0.03% | 26,206 | $1.5M | New |
| EWW iShares MSCI Mexico ETF | 0.02% | 17,568 | $1.2M | New |
| EONR Eon Resources Inc. filed as HNR ACQUISITION CORP | 0.01% | 220,080 | $588K | Reduce -48.2% |
| INDA iShares MSCI India ETF | 0.01% | 10,945 | $565K | New |
| ECD AUTOMOTIVE DESIGN INC | 0.00% | 75,000 | $71K | No change |
Options reported separately and not counted above: SPY puts ($119.3M), VLY puts ($4.0M).
Other holdings (111): bonds, preferreds, convertibles and warrants · $579.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 32,173,000 | $28.2M | Reduce -13.8% |
| ALVOW Alvotech SA -27 | *W EXP 99/99/999 | 4,666,667 | $20.0M | No change |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 21,864,000 | $19.2M | Reduce -3.2% |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 15,241,000 | $13.1M | Reduce -15.8% |
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | NOTE 0.375% 1/1 · principal | 16,354,000 | $12.8M | Reduce -12.1% |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | 13,388,000 | $12.3M | Add +116.7% |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | 12,572,000 | $11.7M | Reduce -9.4% |
| EAGLE BULK SHIPPING INC | CONVERTIBLE BOND · principal | 5,745,000 | $11.4M | Reduce -85.8% |
| PERFICIENT INC (PRFT 0.125 11/15/26) | NOTE 0.125%11/1 · principal | 12,741,000 | $11.0M | Reduce -48.7% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 10,319,000 | $10.7M | Add +9.0% |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | 11,022,000 | $10.7M | Reduce -51.5% |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 11,167,000 | $10.3M | Reduce -52.4% |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 13,095,000 | $10.0M | Reduce -35.2% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 9,078,000 | $9.6M | Add +29.9% |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 10,137,000 | $9.1M | Reduce -50.6% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 9,996,000 | $9.0M | Reduce -53.9% |
| ENVESTNET INC (ENV 2.625 12/01/27) | NOTE 2.625%12/0 · principal | 8,449,000 | $9.0M | Add +8.0% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 8,520,000 | $8.0M | Add +46.0% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 6,524,000 | $7.9M | New |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 9,318,000 | $7.9M | Reduce -46.9% |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 8,398,000 | $7.8M | Reduce -45.0% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 9,142,000 | $7.7M | Reduce -35.7% |
| NUVASIVE INC (GMED 0.375 03/15/25) | NOTE 0.375% 3/1 · principal | 8,029,000 | $7.7M | Reduce -57.6% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 8,255,000 | $7.6M | Reduce -13.6% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 9,719,000 | $7.5M | Reduce -41.9% |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 6,485,000 | $7.5M | Add +66.6% |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | 7,353,000 | $7.5M | Reduce -49.4% |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | 8,375,000 | $7.4M | Reduce -40.1% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 7,834,000 | $7.2M | Reduce -69.7% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 7,262,000 | $7.2M | New |
| EVENTBRITE INC (EB 0.75 09/15/26) | NOTE 0.750% 9/1 · principal | 8,423,000 | $7.1M | Reduce -40.8% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 6,875,000 | $7.1M | Add +18.1% |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 7,796,000 | $7.0M | Reduce -4.4% |
| TECHTARGET HOLDINGS INC (TTGT 0 12/15/26) | NOTE 12/1 · principal | 7,244,000 | $6.9M | Reduce -42.1% |
| AIR TRANSPORT SERVICES G (ATSG 1.125 10/15/24) | NOTE 1.125%10/1 · principal | 6,833,000 | $6.7M | Add +12.6% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 7,588,000 | $6.5M | Reduce -31.7% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 5,251,000 | $6.5M | Reduce -18.7% |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 5,981,000 | $6.3M | New |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 7,385,000 | $6.1M | Reduce -67.3% |
| 8X8 INC (EGHT 4 02/01/28) | NOTE 4.000% 2/0 · principal | 7,542,000 | $6.1M | Add +28.8% |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 6,222,000 | $5.7M | Reduce -21.9% |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | 3,408,000 | $5.6M | Reduce -29.1% |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | 6,047,000 | $5.4M | Reduce -34.6% |
| EZCORP INC (EZPW 2.375 05/01/25) | NOTE 2.375% 5/0 · principal | 5,277,000 | $5.2M | Reduce -58.6% |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 4,489,000 | $5.2M | New |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 5,310,000 | $5.0M | Reduce -37.1% |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 5,374,000 | $4.9M | Reduce -50.4% |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 4,684,000 | $4.9M | New |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 4,984,000 | $4.7M | Add +99.4% |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | 4,949,000 | $4.7M | New |
| MESA LABORATORIES INC (MLAB 1.375 08/15/25) | NOTE 1.375% 8/1 · principal | 4,760,000 | $4.5M | Reduce -58.8% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 4,148,000 | $4.4M | Reduce -1.0% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 3,856,000 | $4.3M | Add +175.4% |
| IQIYI INC (IQ 6.5 03/15/28) | NOTE 6.500% 3/1 · principal | 4,400,000 | $4.2M | New |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 4,571,000 | $4.0M | New |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 5,023,000 | $4.0M | Add +1.5% |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 4,353,000 | $3.9M | Reduce -77.0% |
| CHEGG INC (CHGG 0 09/01/26) | NOTE 9/0 · principal | 4,394,000 | $3.7M | Reduce -62.0% |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | 3,905,000 | $3.5M | Reduce -53.3% |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 3,592,000 | $3.5M | Add +59.6% |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 3,515,000 | $3.5M | Reduce -6.7% |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 3,719,000 | $3.3M | New |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | 3,240,000 | $3.3M | New |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 2,894,000 | $3.3M | New |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 2,950,000 | $3.2M | No change |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 3,389,000 | $3.1M | Add +184.8% |
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) | NOTE 0.250% 6/1 · principal | 3,848,000 | $3.1M | Reduce -31.2% |
| ACCOLADE INC (ACCD 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | 3,516,000 | $3.1M | Reduce -29.7% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 3,282,000 | $3.1M | Reduce -6.6% |
| ATLANTICA JERSEY LTD (AY 4 07/15/25) | NOTE 4.000% 7/1 · principal | 3,161,000 | $3.1M | Reduce -61.8% |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 3,867,000 | $3.0M | Reduce -62.4% |
| BILIBILI INC (BILI 0.5 12/01/26) | NOTE 0.500%12/0 · principal | 3,062,000 | $2.9M | Reduce -60.6% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 3,529,000 | $2.9M | Reduce -29.8% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 2,931,000 | $2.8M | Add +17.2% |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 2,813,000 | $2.8M | Reduce -80.2% |
| JOYY INC (JOYY 1.375 06/15/26) | NOTE 1.375% 6/1 · principal | 2,751,000 | $2.7M | Reduce -59.0% |
| TURNING POINT BRANDS INC (TPB 2.5 07/15/24) | NOTE 2.500% 7/1 · principal | 2,714,000 | $2.7M | Reduce -76.0% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 2,600,000 | $2.6M | New |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | 2,493,000 | $2.5M | Reduce -72.0% |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | 2,500,000 | $2.4M | No change |
| NEOGENOMICS INC (NEO 0.25 01/15/28) | NOTE 0.250% 1/1 · principal | 2,948,000 | $2.4M | Reduce -19.2% |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 2,000,000 | $2.3M | No change |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 1,993,000 | $2.1M | New |
| INSMED INC (INSM 0.75 06/01/28) | NOTE 0.750% 6/0 · principal | 1,993,000 | $2.1M | New |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 2,100,000 | $2.1M | No change |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 1,800,000 | $2.1M | No change |
| PENNYMAC CORP (PMT 5.5 11/01/24) | NOTE 5.500%11/0 · principal | 2,100,000 | $2.1M | Reduce -86.6% |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 2,181,000 | $2.0M | Add +37.8% |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | 2,603,000 | $1.9M | Add +22.8% |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 1,900,000 | $1.9M | Add +26.7% |
| Q2 HOLDINGS INC (QTWO 0.125 11/15/25) | NOTE 0.125%11/1 · principal | 1,989,000 | $1.9M | Reduce -63.4% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 1,400,000 | $1.7M | No change |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 1,700,000 | $1.7M | Reduce -50.5% |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | 1,500,000 | $1.6M | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 1,725,000 | $1.6M | Reduce -22.5% |
| ZILLOW GROUP INC (Z 1.375 09/01/26) | NOTE 1.375% 9/0 · principal | 1,250,000 | $1.6M | Reduce -44.4% |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 1,489,000 | $1.5M | New |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 1,250,000 | $1.5M | New |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | 2,557,000 | $1.4M | Reduce -76.8% |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | 1,406,000 | $1.4M | Reduce -90.7% |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 1,385,000 | $1.3M | Reduce -66.8% |
| NIO INC (NIO 0.5 02/01/27) | NOTE 0.500% 2/0 · principal | 1,361,000 | $1.2M | Reduce -59.4% |
| I3 VERTICALS LLC (IIIV 1 02/15/25) | NOTE 1.000% 2/1 · principal | 1,273,000 | $1.2M | Reduce -55.8% |
| EVENTBRITE INC (EB 5 12/01/25) | NOTE 5.000%12/0 · principal | 1,151,000 | $1.1M | New |
| KAMAN CORP (KAMN 3.25 05/01/24) | NOTE 3.250% 5/0 · principal | 852,000 | $853K | Reduce -94.9% |
| XOMETRY INC (XMTR 1 02/01/27) | NOTE 1.000% 2/0 · principal | 1,056,000 | $807K | New |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 702,000 | $772K | Reduce -95.9% |
| LENDINGTREE INC (TREE 0.5 07/15/25) | NOTE 0.500% 7/1 · principal | 726,000 | $680K | New |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 782,000 | $674K | Reduce -62.5% |
| CARDLYTICS INC (CDLX 1 09/15/25) | NOTE 1.000% 9/1 · principal | 704,000 | $651K | New |
| MITEK SYSTEMS INC (MITK 0.75 02/01/26) | NOTE 0.750% 2/0 · principal | 326,000 | $328K | Reduce -59.8% |
Total filed on the 13F, all lines: $6.2B.
Portfolio Sells Q4 2023 → Q1 2024
| NMIH Nmi Holdings Inc. | Reduce -77.4% | 0.60% | −1.98 |
| INFY Infosys Ltd.-SP ADR | Sold out | 0.00% | −1.18 |
| FTAI Ftai Aviation Ltd. | Sold out | 0.00% | −1.01 |
| LBTYA Liberty Global Ltd. Class A | Sold out | 0.00% | −0.90 |
| AMX America Movil Sab DE CV | Sold out | 0.00% | −0.79 |
| RWAY Runway Growth Finance Corp. | Reduce -6.1% | 3.32% | −0.55 |
| ALVO Alvotech SA | Reduce -46.8% | 0.63% | −0.54 |
| MTG Mgic Investment Corp. | Sold out | 0.00% | −0.31 |
| LBRDK Liberty Broadband-C | Sold out | 0.00% | −0.13 |
| PONO CAP THREE INC | Sold out | 0.00% | −0.11 |
| PAM Pampa Energia SA-Spon ADR | Reduce -29.1% | 0.16% | −0.11 |
| FEXD Fintech Ecosystem Developm-A | Sold out | 0.00% | −0.09 |
| TGS Transportador Gas-ADR SP B | Reduce -19.6% | 0.29% | −0.09 |
| EONR Eon Resources Inc. | Reduce -48.2% | 0.01% | −0.08 |
| AIEV Thunder Power Holdings Inc. | Sold out | 0.00% | −0.07 |
| GLST Global Star Acquisition Class A | Sold out | 0.00% | −0.06 |
| SBC SBC Medical Group Holdings I | Sold out | 0.00% | −0.05 |
| AQUC Aquaron Acquisition Corp. | Sold out | 0.00% | −0.04 |
| GLLUF Global Lights Acquisition Co. | Sold out | 0.00% | −0.04 |
| TMTC TMT Acquisition Corp. Class A | Sold out | 0.00% | −0.03 |
| CETU Cetus Capital Acquisition Co. | Sold out | 0.00% | −0.03 |
| MARX Mars Acquisition Corp. | Sold out | 0.00% | −0.03 |
| LOMA Loma Negra Cia Ind-Spon ADR | Sold out | 0.00% | −0.03 |
| TENX KEANE ACQUISITION | Sold out | 0.00% | −0.03 |
| PLTN Plutonian Acquisition Corp. | Sold out | 0.00% | −0.02 |
| GODN Golden Star Acquisition Corp. | Sold out | 0.00% | −0.02 |
| OAKU Oak Woods Acquisition Corp. Class A | Sold out | 0.00% | −0.02 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -6.0% | 1.33% | −0.01 |
| QETAU Quetta Acquisition Corp. | Sold out | 0.00% | −0.01 |
| AITRU AI Transportation Acquisitio | Sold out | 0.00% | −0.00 |
| HIMS Hims & Hers Health Inc. | Reduce -36.7% | 0.18% | +0.01 |
| EXE Expand Energy Corp. | Reduce -0.2% | 10.96% | +0.95 |
Portfolio Buys Q4 2023 → Q1 2024
| INDV Indivior Ltd. | New | 1.27% | +1.27 |
| EAGLE BULK SHIPPING INC | New | 1.21% | +1.21 |
| BIDU Baidu Inc. - Spon ADR | New | 0.79% | +0.79 |
| LI Li Auto Inc. - ADR | New | 0.53% | +0.53 |
| VIST Vista Energy Sab DE CV | Add +1.8% | 1.78% | +0.47 |
| BAK Braskem SA Class A- ADR | New | 0.38% | +0.38 |
| BMA Banco Macro SA-ADR | New | 0.37% | +0.37 |
| YUMC Yum China Holdings Inc. | New | 0.34% | +0.34 |
| JOYY Joyy Inc.-ADR | New | 0.34% | +0.34 |
| AU Anglogold Ashanti PLC | Add +2.1% | 2.35% | +0.31 |
| FCX Freeport-McMoran Inc. | Add +1.9% | 2.47% | +0.16 |
| HTHT H World Group Ltd.-ADR | Add +12.3% | 0.84% | +0.16 |
| YPF YPF S.A.-Sponsored ADR | New | 0.12% | +0.12 |
| VCSA Vacasa Inc. Class A | New | 0.05% | +0.05 |
| TEO Telecom Argentina SA-SP ADR | Add +8.0% | 0.37% | +0.05 |
| HDB HDFC Bank Ltd.-ADR | New | 0.03% | +0.03 |
| EWW iShares MSCI Mexico ETF | New | 0.02% | +0.02 |
| INDA iShares MSCI India ETF | New | 0.01% | +0.01 |
| BABA Alibaba Group Holding-SP ADR | Add +1.6% | 0.16% | −0.02 |
| AZUL S A | Add +15.8% | 0.25% | −0.03 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +2.4% | 1.15% | −0.04 |
| TX Ternium SA-Sponsored ADR | Add +1.8% | 0.72% | −0.04 |
| PBR Petroleo Brasileiro-Spon ADR | Add +7.0% | 1.37% | −0.04 |
| JD Jd.com Inc.-ADR | Add +2.1% | 1.07% | −0.09 |
| VALE Vale SA-SP ADR | Add +22.5% | 2.48% | −0.29 |
| BBD Banco Bradesco-ADR | Add +2.1% | 1.77% | −0.46 |
Options Activity Q4 2023 → Q1 2024
| XOP SS SPDR S&P Og Exp & Prod | put | Sold out | 1,195,000 | $163.6Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -56.6% | 228,000 | $119.3M |
| CAT Caterpillar Inc. | put | Sold out | 300,000 | $88.7Mbefore exit |
| VLY Valley National Bancorp | put | Reduce -50.0% | 500,000 | $4.0M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2023 → Q1 2024
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Reduce -13.8% | 32,173,000 | $28.2M |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | Reduce -3.2% | 21,864,000 | $19.2M |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | Sold out | 19,051,000 | $16.8Mbefore exit |
| MICROSTRATEGY INC (MSTR 0 02/15/27) | NOTE 2/1 · principal | Sold out | 18,897,000 | $16.5Mbefore exit |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | Reduce -15.8% | 15,241,000 | $13.1M |
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | NOTE 0.375% 1/1 · principal | Reduce -12.1% | 16,354,000 | $12.8M |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | Add +116.7% | 13,388,000 | $12.3M |
| DISH NETWORK CORP (DISH 0 12/15/25) | NOTE 12/1 · principal | Sold out | 18,995,000 | $11.9Mbefore exit |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | Reduce -9.4% | 12,572,000 | $11.7M |
| EAGLE BULK SHIPPING INC | CONVERTIBLE BOND · principal | Reduce -85.8% | 5,745,000 | $11.4M |
| MFA FINANCIAL INC (MFA 6.25 06/15/24) | NOTE 6.250% 6/1 · principal | Sold out | 11,039,000 | $11.1Mbefore exit |
| PERFICIENT INC (PRFT 0.125 11/15/26) | NOTE 0.125%11/1 · principal | Reduce -48.7% | 12,741,000 | $11.0M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +9.0% | 10,319,000 | $10.7M |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | Reduce -51.5% | 11,022,000 | $10.7M |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | Reduce -52.4% | 11,167,000 | $10.3M |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | Reduce -35.2% | 13,095,000 | $10.0M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Add +29.9% | 9,078,000 | $9.6M |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | Reduce -50.6% | 10,137,000 | $9.1M |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | Sold out | 9,925,000 | $9.0Mbefore exit |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | Reduce -53.9% | 9,996,000 | $9.0M |
| ENVESTNET INC (ENV 2.625 12/01/27) | NOTE 2.625%12/0 · principal | Add +8.0% | 8,449,000 | $9.0M |
| 8X8 INC (EGHT 0.5 02/01/24) | NOTE 0.500% 2/0 · principal | Sold out | 8,949,000 | $8.9Mbefore exit |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | Add +46.0% | 8,520,000 | $8.0M |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | New | 6,524,000 | $7.9M |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Reduce -46.9% | 9,318,000 | $7.9M |
| BIOMARIN PHARMACEUTICAL (BMRN 0.599 08/01/24) | NOTE 0.599% 8/0 · principal | Sold out | 7,867,000 | $7.8Mbefore exit |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | Reduce -45.0% | 8,398,000 | $7.8M |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | Reduce -35.7% | 9,142,000 | $7.7M |
| NUVASIVE INC (GMED 0.375 03/15/25) | NOTE 0.375% 3/1 · principal | Reduce -57.6% | 8,029,000 | $7.7M |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -13.6% | 8,255,000 | $7.6M |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Reduce -41.9% | 9,719,000 | $7.5M |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | Add +66.6% | 6,485,000 | $7.5M |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | Reduce -49.4% | 7,353,000 | $7.5M |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | Reduce -40.1% | 8,375,000 | $7.4M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Reduce -69.7% | 7,834,000 | $7.2M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | New | 7,262,000 | $7.2M |
| EVENTBRITE INC (EB 0.75 09/15/26) | NOTE 0.750% 9/1 · principal | Reduce -40.8% | 8,423,000 | $7.1M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Add +18.1% | 6,875,000 | $7.1M |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | Reduce -4.4% | 7,796,000 | $7.0M |
| TECHTARGET HOLDINGS INC (TTGT 0 12/15/26) | NOTE 12/1 · principal | Reduce -42.1% | 7,244,000 | $6.9M |
| AIR TRANSPORT SERVICES G (ATSG 1.125 10/15/24) | NOTE 1.125%10/1 · principal | Add +12.6% | 6,833,000 | $6.7M |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | Reduce -31.7% | 7,588,000 | $6.5M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Reduce -18.7% | 5,251,000 | $6.5M |
| IQIYI INC (IQ 4 12/15/26) | NOTE 4.000%12/1 · principal | Sold out | 6,575,000 | $6.4Mbefore exit |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | New | 5,981,000 | $6.3M |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | Reduce -67.3% | 7,385,000 | $6.1M |
| 8X8 INC (EGHT 4 02/01/28) | NOTE 4.000% 2/0 · principal | Add +28.8% | 7,542,000 | $6.1M |
| COHERUS ONCOLOGY INC (CHRS 1.5 04/15/26) | NOTE 1.500% 4/1 · principal | Sold out | 10,306,000 | $5.8Mbefore exit |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | Reduce -21.9% | 6,222,000 | $5.7M |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Reduce -29.1% | 3,408,000 | $5.6M |
Showing the first 50 of 130.
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 49 | $3.8B | TRMD, EXE, GTX, AU, INDV |
| Q1 2026Amended | 50 | $4.3B | TRMD, EXE, AU, GTX, INDV |
| Q4 2025 | 50 | $4.5B | EXE, TRMD, AU, GTX, INDV |
| Q3 2025 | 54 | $4.7B | TRMD, EXE, GTX, AU, VNOM |
| Q2 2025 | 50 | $3.9B | TRMD, EXE, GTX, STR, AU |
| Q1 2025 | 51 | $4.0B | TRMD, EXE, GTX, STR, AU |
| Q4 2024 | 54 | $4.5B | TRMD, EXE, GTX, STR, INFN |
| Q3 2024 | 57 | $5.3B | TRMD, EXE, GTX, STR, INFN |
| Q2 2024 | 50 | $5.2B | TRMD, EXE, GTX, STR, SBLK |
| Q1 2024 | 56 | $5.7B | TRMD, EXE, GTX, STR, RWAY |