Oaktree Fund Advisors, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Oaktree Fund Advisors, LLC reported 21 stock positions worth $67.7 million. Its top holding was iShares MSCI India ETF (INDA) at 18.5% of the portfolio, followed by Anglogold Ashanti (AU, 18.0%) and Freeport-McMoran (FCX, 7.7%). Compared with Q4 2024, it opened 8 new positions, sold out of 7, added to 4 and reduced 9. The biggest buy was a new position in Grab Class A (GRAB) and the biggest sale an exit from Trip.com Group Ltd.-ADR (TCOM).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGLES, CA
- CIK
- 0001822973
- Portfolio Value
- $67.7M (Q1 2025)
- SEC Filing
- 0000949509-25-000003 ↗ filed May 15, 2025
Holdings Value
Holdings 21 stocks · $67.7M
| INDA iShares MSCI India ETF | 18.48% | 243,023 | $12.5M | Add +29.0% |
| AU Anglogold Ashanti PLC | 18.02% | 328,674 | $12.2M | Reduce -4.7% |
| FCX Freeport-McMoran Inc. | 7.69% | 137,567 | $5.2M | Add +21.4% |
| HDB HDFC Bank Ltd.-ADR | 6.45% | 65,669 | $4.4M | Reduce -4.7% |
| B Barrick Gold Corp. | 4.78% | 166,595 | $3.2M | Add +144.9% |
| GRAB Grab Holdings Ltd. Class A | 4.50% | 672,316 | $3.0M | New |
| HTHT H World Group Ltd.-ADR | 4.18% | 76,510 | $2.8M | Add +4.5% |
| JD Jd.com Inc.-ADR | 3.78% | 62,210 | $2.6M | Reduce -34.5% |
| ITUB Itau Unibanco H-Spon PRF ADR | 3.69% | 454,016 | $2.5M | New |
| PBR Petroleo Brasileiro-Spon ADR | 3.67% | 173,192 | $2.5M | Reduce -22.5% |
| BILI Bilibili Inc.-Sponsored ADR | 3.56% | 125,997 | $2.4M | New |
| VALE Vale SA-SP ADR | 3.47% | 235,665 | $2.4M | Reduce -26.6% |
| EC Ecopetrol SA-Sponsored ADR | 3.10% | 200,885 | $2.1M | New |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 2.42% | 81,634 | $1.6M | New |
| CX Cemex Sab-Spons ADR Part Cer | 2.38% | 286,760 | $1.6M | New |
| TX Ternium SA-Sponsored ADR | 2.29% | 49,829 | $1.6M | Reduce -4.6% |
| BZ Kanzhun Ltd. - ADR | 2.16% | 76,324 | $1.5M | Reduce -35.3% |
| BIDU Baidu Inc. - Spon ADR | 1.76% | 12,929 | $1.2M | New |
| KC Kingsoft Cloud Holdings-ADR | 1.51% | 71,404 | $1.0M | New |
| ALVO Alvotech SA | 1.50% | 105,116 | $1.0M | Reduce -9.6% |
| DQ Daqo New Energy Corp.-ADR | 0.58% | 21,836 | $395K | Reduce -35.4% |
Other holdings (29): bonds, preferreds, convertibles and warrants · $1.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) | NOTE 0.250% 6/1 · principal | 235,000 | $219K | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 190,000 | $178K | Reduce -0.5% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 175,000 | $166K | No change |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 169,000 | $160K | Add +9.0% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 30,000 | $29K | New |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 25,000 | $24K | No change |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 28,000 | $24K | Reduce -9.7% |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 25,000 | $23K | No change |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 20,000 | $22K | No change |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 21,000 | $20K | New |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 23,000 | $20K | New |
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | NOTE 0.375% 1/1 · principal | 20,000 | $19K | Add +66.7% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 20,000 | $18K | Add +81.8% |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 19,000 | $18K | New |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 18,000 | $17K | New |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 16,000 | $16K | No change |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 14,000 | $16K | New |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 14,000 | $16K | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 17,000 | $16K | New |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 17,000 | $15K | New |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | 13,000 | $15K | Reduce -38.1% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 16,000 | $14K | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 14,000 | $13K | New |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 13,000 | $12K | Reduce -50.0% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 11,000 | $12K | No change |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | 12,000 | $11K | New |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | 11,000 | $11K | New |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 12,000 | $11K | New |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 11,000 | $10K | New |
Total filed on the 13F, all lines: $68.8M.
Portfolio Sells Q4 2024 → Q1 2025
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −5.46 |
| YUMC Yum China Holdings Inc. | Sold out | 0.00% | −4.78 |
| INFY Infosys Ltd.-SP ADR | Sold out | 0.00% | −4.12 |
| NTES Netease Inc.-ADR | Sold out | 0.00% | −4.09 |
| PDD PDD Holdings Inc. | Sold out | 0.00% | −2.93 |
| JD Jd.com Inc.-ADR | Reduce -34.5% | 3.78% | −1.86 |
| MESO Mesoblast Ltd.- Spon ADR | Sold out | 0.00% | −1.62 |
| VALE Vale SA-SP ADR | Reduce -26.6% | 3.47% | −1.40 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -22.5% | 3.67% | −1.25 |
| ALVO Alvotech SA | Reduce -9.6% | 1.50% | −1.13 |
| HDB HDFC Bank Ltd.-ADR | Reduce -4.7% | 6.45% | −1.08 |
| CPNG Coupang Inc. | Sold out | 0.00% | −0.96 |
| BZ Kanzhun Ltd. - ADR | Reduce -35.3% | 2.16% | −0.63 |
| DQ Daqo New Energy Corp.-ADR | Reduce -35.4% | 0.58% | −0.54 |
| TX Ternium SA-Sponsored ADR | Reduce -4.6% | 2.29% | −0.31 |
| AU Anglogold Ashanti PLC | Reduce -4.7% | 18.02% | +4.40 |
Portfolio Buys Q4 2024 → Q1 2025
| GRAB Grab Holdings Ltd. Class A | New | 4.50% | +4.50 |
| ITUB Itau Unibanco H-Spon PRF ADR | New | 3.69% | +3.69 |
| BILI Bilibili Inc.-Sponsored ADR | New | 3.56% | +3.56 |
| EC Ecopetrol SA-Sponsored ADR | New | 3.10% | +3.10 |
| B Barrick Gold Corp. | Add +144.9% | 4.78% | +2.98 |
| BEKE Ke Holdings Inc.-ADR | New | 2.42% | +2.42 |
| CX Cemex Sab-Spons ADR Part Cer | New | 2.38% | +2.38 |
| BIDU Baidu Inc. - Spon ADR | New | 1.76% | +1.76 |
| KC Kingsoft Cloud Holdings-ADR | New | 1.51% | +1.51 |
| INDA iShares MSCI India ETF | Add +29.0% | 18.48% | +1.51 |
| FCX Freeport-McMoran Inc. | Add +21.4% | 7.69% | +0.31 |
| HTHT H World Group Ltd.-ADR | Add +4.5% | 4.18% | +0.04 |
Notes & Other Activity Q4 2024 → Q1 2025
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | Reduce -0.5% | 190,000 | $178K |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | Add +9.0% | 169,000 | $160K |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Sold out | 34,000 | $36Kbefore exit |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Sold out | 32,000 | $35Kbefore exit |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | Sold out | 38,000 | $32Kbefore exit |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | New | 30,000 | $29K |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | Sold out | 24,000 | $26Kbefore exit |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Sold out | 22,000 | $24Kbefore exit |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | Reduce -9.7% | 28,000 | $24K |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | Sold out | 22,000 | $22Kbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Sold out | 21,000 | $21Kbefore exit |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | New | 21,000 | $20K |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | New | 23,000 | $20K |
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | NOTE 0.375% 1/1 · principal | Add +66.7% | 20,000 | $19K |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Sold out | 17,000 | $19Kbefore exit |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | Add +81.8% | 20,000 | $18K |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | New | 19,000 | $18K |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | Sold out | 15,000 | $18Kbefore exit |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Sold out | 14,000 | $17Kbefore exit |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | New | 18,000 | $17K |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | New | 14,000 | $16K |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | New | 17,000 | $16K |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | New | 17,000 | $15K |
| H WORLD GROUP LTD (HTHT 3 05/01/26) | NOTE 3.000% 5/0 · principal | Reduce -38.1% | 13,000 | $15K |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | Sold out | 12,000 | $14Kbefore exit |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | New | 16,000 | $14K |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | Sold out | 12,000 | $13Kbefore exit |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | New | 14,000 | $13K |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | Reduce -50.0% | 13,000 | $12K |
| LIVANOVA PLC (LIVN 2.5 03/15/29) | NOTE 2.500% 3/1 · principal | New | 12,000 | $11K |
| GUARDANT HEALTH INC (GH 1.25 02/15/31) | DEBT 1.250% 2/1 · principal | New | 11,000 | $11K |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | New | 12,000 | $11K |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | New | 11,000 | $10K |
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 | 13 | $57.7M | AU, B, ITUB, YPF, FCX |
| Q1 2026Amended | 12 | $56.5M | AU, PBR, B, ITUB, YPF |
| Q4 2025 | 14 | $53.4M | AU, B, ITUB, HDB, NU |
| Q3 2025 | 15 | $53.8M | AU, B, ITUB, HDB, GRAB |
| Q2 2025 | 16 | $56.6M | INDA, AU, HDB, FCX, ITUB |
| Q1 2025 | 21 | $67.7M | INDA, AU, FCX, HDB, B |
| Q4 2024 | 20 | $58.4M | INDA, AU, HDB, FCX, JD |
| Q3 2024 | 23 | $87.7M | INDA, AU, FCX, JD, VALE |
| Q2 2024 | 17 | $105.7M | AU, VALE, FCX, INDA, JD |
| Q1 2024 | 19 | $110.2M | FCX, AU, VALE, BBD, PBR |