聪明钱 · 价值投资
霍华德·马克斯
Howard Marks橡树资本
01
13F 持仓
OAKTREE CAPITAL MANAGEMENT LP · 报告期 2026-06-30（2026-08-14 申报）
13F 持仓市值$7.2B145 个持仓
前十大占比54.6%集中度
新建 / 加仓40 / 51对比 2026-03-31
减仓 / 清仓33 / 42对比 2026-03-31
前 30 大持仓
| 代码 | 名称 | 市值 | 占比 | 季度变化 | 股数变化 |
|---|---|---|---|---|---|
| SPY | STATE STREET CORP（Put） | $1.0B | 14.0% | 新建 | – |
| QQQ | INVESCO QQQ TRUST SERIES 1（Put） | $652M | 9.0% | 加仓 | +55.3% |
| TRMD | TORM PLC | $524M | 7.3% | 减仓 | -14.7% |
| EXE | EXPAND ENERGY CORP | $478M | 6.6% | 持平 | – |
| GTX | GARRETT MOTION INC | $275M | 3.8% | 减仓 | -48.0% |
| AU | ANGLOGOLD ASHANTI PLC | $257M | 3.6% | 减仓 | -1.4% |
| INDV | INDIVIOR PHARMACEUTICALS INC | $251M | 3.5% | 减仓 | -12.3% |
| TDS | TELEPHONE AND DATA SYSTEMS INC | $196M | 2.7% | 加仓 | +23.1% |
| VNOM | VIPER ENERGY INC | $161M | 2.2% | 持平 | – |
| CORZ | CORE SCIENTIFIC INC（Call） | $128M | 1.8% | 加仓 | +42.9% |
| CORZ | CORE SCIENTIFIC INC | $128M | 1.8% | 减仓 | -46.6% |
| TLN | TALEN ENERGY CORP | $127M | 1.8% | 持平 | – |
| B | BARRICK MINING CORP | $118M | 1.6% | 加仓 | +22.1% |
| ITUB | ITAU UNIBANCO HOLDING SA | $98M | 1.4% | 减仓 | -1.7% |
| LBTYA | LIBERTY GLOBAL LTD | $97M | 1.3% | 持平 | – |
| OCSL | OAKTREE SPECIALTY LENDING CORP | $94M | 1.3% | 加仓 | +325.0% |
| FCX | FREEPORT-MCMORAN INC | $76M | 1.0% | 减仓 | -1.6% |
| AERO | GRUPO AEROMEXICO SAB DE CV | $71M | 1.0% | 持平 | – |
| KRC | KILROY REALTY CORP | $69M | 1.0% | 持平 | – |
| 无代码 | PEBBLEBROOK HOTEL TRUST | $63M | 0.9% | 加仓 | +10.0% |
| 无代码 | BIOMARIN PHARMACEUTICAL INC | $62M | 0.9% | 加仓 | +14.4% |
| 无代码 | SEA LTD | $62M | 0.9% | 加仓 | +30.7% |
| 无代码 | ETSY INC | $61M | 0.8% | 加仓 | +9.2% |
| SE | SEA LTD | $61M | 0.8% | 新建 | – |
| LILAK | LIBERTY LATIN AMERICA LTD | $59M | 0.8% | 加仓 | +31.5% |
| 无代码 | ENPHASE ENERGY INC | $58M | 0.8% | 加仓 | +9.2% |
| 无代码 | DEXCOM INC | $57M | 0.8% | 加仓 | +51.3% |
| BLCO | BAUSCH LOMB CORP | $57M | 0.8% | 加仓 | +1.7% |
| VSAT | VIASAT INC | $57M | 0.8% | 新建 | – |
| 无代码 | ECHOSTAR CORP | $56M | 0.8% | 持平 | – |
本季新建（按市值）
| 代码 | 名称 | 市值 | 占比 | 季度变化 | 股数变化 |
|---|---|---|---|---|---|
| SPY | STATE STREET CORP（Put） | $1.0B | 14.0% | 新建 | – |
| SE | SEA LTD | $61M | 0.8% | 新建 | – |
| VSAT | VIASAT INC | $57M | 0.8% | 新建 | – |
| MMYT | MAKEMYTRIP LTD | $52M | 0.7% | 新建 | – |
| MATW | MATTHEWS INTERNATIONAL CORP | $52M | 0.7% | 新建 | – |
| VC | VISTEON CORP（Put） | $40M | 0.6% | 新建 | – |
| 无代码 | ENOVIS CORP | $38M | 0.5% | 新建 | – |
| QMCO | QUANTUM CORP | $22M | 0.3% | 新建 | – |
| SGRY | SURGERY PARTNERS INC | $14M | 0.2% | 新建 | – |
| 无代码 | WORKIVA INC | $14M | 0.2% | 新建 | – |
| 无代码 | ETSY INC | $14M | 0.2% | 新建 | – |
| 无代码 | STARWOOD PROPERTY TRUST INC | $12M | 0.2% | 新建 | – |
| BTDR | BITDEER TECHNOLOGIES GROUP（Call） | $12M | 0.2% | 新建 | – |
| 无代码 | CLOUDFLARE INC | $10M | 0.1% | 新建 | – |
| 无代码 | FRESHPET INC | $9M | 0.1% | 新建 | – |
本季清仓（按上季市值）
| 代码 | 名称 | 上季市值 | 占比 | 季度变化 | 股数变化 |
|---|---|---|---|---|---|
| XOP | STATE STREET SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF（Put） | $182M | 0.0% | 清仓 | – |
| PBR | PETROLEO BRASILEIRO SA - PETROBRAS | $126M | 0.0% | 清仓 | – |
| 无代码 | JETBLUE AIRWAYS CORP | $95M | 0.0% | 清仓 | – |
| NOK | NOKIA OYJ | $90M | 0.0% | 清仓 | – |
| CBL | CBL & ASSOCIATES PROPERTIES INC | $83M | 0.0% | 清仓 | – |
| 无代码 | AMERICAN WATER CAPITAL CORP | $56M | 0.0% | 清仓 | – |
| 无代码 | COINBASE GLOBAL INC | $52M | 0.0% | 清仓 | – |
| CRDO | CREDO TECHNOLOGY GROUP HOLDING LTD | $51M | 0.0% | 清仓 | – |
| TLN | TALEN ENERGY CORP（Call） | $48M | 0.0% | 清仓 | – |
| 无代码 | OKTA INC | $47M | 0.0% | 清仓 | – |
| 无代码 | Q2 HOLDINGS INC | $41M | 0.0% | 清仓 | – |
| 无代码 | BLOCK INC | $38M | 0.0% | 清仓 | – |
| 无代码 | PROGRESS SOFTWARE CORP | $36M | 0.0% | 清仓 | – |
| ECVT | ECOVYST INC | $31M | 0.0% | 清仓 | – |
| 无代码 | CRACKER BARREL OLD COUNTRY STORE INC | $26M | 0.0% | 清仓 | – |
13F 只披露美股多头仓位（含期权名义值），不含空头、现金和海外资产；季度结束后 45 天内申报。
88 个持仓未能映射到股票代码（多为非普通股或已退市证券），按名称显示。
前两大是 SPY 和 QQQ 的看跌期权（合计约占 23%）。13F 按标的证券市值申报，不代表期权本身的价值。
原始文件：13F-HR（2026-08-14）