Oaktree Fund Advisors, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Oaktree Fund Advisors, LLC reported 14 stock positions worth $53.4 million. Its top holding was Anglogold Ashanti (AU) at 25.9% of the portfolio, followed by Barrick Mining (B, 14.8%) and Itau Unibanco H-Spon PRF ADR (ITUB, 10.4%). Compared with Q3 2025, it opened 1 new position, sold out of 2, added to 4 and reduced 8. The biggest buy was a new position in Infosys Ltd.-SP ADR (INFY) and the biggest sale an exit from Sea Ltd.-ADR (SE).

Most Recent 13F
Q2 2026
Location
LOS ANGLES, CA
CIK
0001822973
Portfolio Value
$53.4M (Q4 2025)
SEC Filing
0001822973-26-000001 ↗ filed Feb 17, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $110.2M Q1 2024 Q2 2024: $105.7M Q2 2024 Q3 2024: $87.7M Q3 2024 Q4 2024: $58.4M Q4 2024 Q1 2025: $67.7M Q1 2025 Q2 2025: $56.6M Q2 2025 Q3 2025: $53.8M Q3 2025 Q4 2025: $53.4M $53.4M Q4 2025 Q1 2026: $56.5M Q1 2026 Q2 2026: $57.7M Q2 2026

Holdings 14 stocks · $53.4M
AU Anglogold Ashanti PLC 25.94% 162,478 $13.9M Reduce -16.7%
B Barrick Mining Corp. 14.80% 181,494 $7.9M Reduce -5.2%
ITUB Itau Unibanco H-Spon PRF ADR 10.40% 775,939 $5.6M Add +3.1%
HDB HDFC Bank Ltd.-ADR 8.82% 128,863 $4.7M Reduce -5.2%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 7.61% 242,850 $4.1M Add +2.4%
FCX Freeport-McMoran Inc. 7.26% 76,395 $3.9M Reduce -5.2%
GRAB Grab Holdings Ltd. Class A 6.16% 659,716 $3.3M Reduce -5.2%
XP XP Inc. Class A 5.73% 187,074 $3.1M Add +60.0%
YMM Full Truck Alliance -SPN ADR 4.20% 209,099 $2.2M Reduce -5.2%
BZ Kanzhun Ltd. - ADR 3.39% 88,847 $1.8M Reduce -5.1%
TX Ternium SA-Sponsored ADR 2.78% 38,886 $1.5M Reduce -24.5%
INFY Infosys Ltd.-SP ADR 2.03% 60,972 $1.1M New
ALVO Alvotech SA 0.74% 146,843 $397K Add +93.2%
BTAIQ Bioxcel Therapeutics Inc. 0.13% 42,913 $69K No change
Other holdings (3): bonds, preferreds, convertibles and warrants · $621K (not counted above)
SecurityClassShares / PrincipalValueChange
JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) CONVERTIBLE BOND · principal 395,000$388KAdd +71.7%
CABLE ONE INC (CABO 0 03/15/26) NOTE 3/1 · principal 175,000$173KNo change
PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) NOTE 1.750%12/1 · principal 62,000$60KNo change

Total filed on the 13F, all lines: $54.0M.

Portfolio Sells Q3 2025 → Q4 2025
SE Sea Ltd.-ADR Sold out 0.00% −2.70
JBS JBS NV-A Sold out 0.00% −2.45
GRAB Grab Holdings Ltd. Class A Reduce -5.2% 6.16% −1.61
YMM Full Truck Alliance -SPN ADR Reduce -5.2% 4.20% −1.11
BZ Kanzhun Ltd. - ADR Reduce -5.1% 3.39% −0.67
TX Ternium SA-Sponsored ADR Reduce -24.5% 2.78% −0.54
HDB HDFC Bank Ltd.-ADR Reduce -5.2% 8.82% +0.19
AU Anglogold Ashanti PLC Reduce -16.7% 25.94% +0.46
FCX Freeport-McMoran Inc. Reduce -5.2% 7.26% +1.39
B Barrick Mining Corp. Reduce -5.2% 14.80% +3.15

Portfolio Buys Q3 2025 → Q4 2025
INFY Infosys Ltd.-SP ADR New 2.03% +2.03
XP XP Inc. Class A Add +60.0% 5.73% +1.65
NU Nu Holdings Ltd./Cayman Isl-A Add +2.4% 7.61% +0.56
ITUB Itau Unibanco H-Spon PRF ADR Add +3.1% 10.40% +0.14
ALVO Alvotech SA Add +93.2% 0.74% −0.41

Notes & Other Activity Q3 2025 → Q4 2025
JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) CONVERTIBLE BOND · principal Add +71.7% 395,000 $388K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 13$57.7MAU, B, ITUB, YPF, FCX
Q1 2026Amended 12$56.5MAU, PBR, B, ITUB, YPF
Q4 2025 14$53.4MAU, B, ITUB, HDB, NU
Q3 2025 15$53.8MAU, B, ITUB, HDB, GRAB
Q2 2025 16$56.6MINDA, AU, HDB, FCX, ITUB
Q1 2025 21$67.7MINDA, AU, FCX, HDB, B
Q4 2024 20$58.4MINDA, AU, HDB, FCX, JD
Q3 2024 23$87.7MINDA, AU, FCX, JD, VALE
Q2 2024 17$105.7MAU, VALE, FCX, INDA, JD
Q1 2024 19$110.2MFCX, AU, VALE, BBD, PBR