Oaktree Plans Special Situations Fund as Tariff Threats Grow
Oaktree Capital Management LP is seeking investors for its latest fund focusing on corporate special situations, according to people familiar with the matter, as a global trade war darkens the outlook for businesses.
The Oaktree Special Situations Fund IV may reach about $4 billion, said the people, who asked not to be identified because the matter is private. The previous vintage of this strategy raised $3 billion, they said.
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Howard Marks (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2025, providing insights into his investment moves during this period. As the Chairman of Oaktree Capital Management LP, Marks has been instrumental in guiding the firm since its inception in 1995. Known for his adherence to a disciplined investment philosophy, Marks focuses on less efficient markets and alternative investments, with a strong emphasis on debt, preferred stocks, and convertible bonds. His strategic decisions are closely watched by value investors seeking to emulate his success. Howard Marks (Trades, Portfolio) added a total of 9 stocks to his portfolio, with notable additions including: The most significant addition was Nokia Oyj (NYSE:NOK), with 18,752,227 shares, accounting for 2.3% of the portfolio and a total value of $98.82 million. The second largest addition was TransAlta Corp (NYSE:TAC), consisting of 5,585,253 shares, representing approximately 1.21% of the portfolio, with a total value of $52.12 million. The third largest addition was Grab Holdings Ltd (NASDAQ:GRAB), with 10,275,995 shares, accounting for 1.08% of the portfolio and a total value of $46.55 million. Howard Marks (Trades, Portfolio) also increased stakes in a total of 5 stocks, among them: The most notable increase was Barrick Mining Corp (NYSE:B), with an additional 1,501,595 shares, bringing the total to 2,516,658 shares. This adjustment represents a significant 147.93% increase in share count, a 0.68% impact on the current portfolio, with a total value of $48.92 million. The second largest increase was Cemex SAB de CV (NYSE:CX), with an additional 4,794,697 shares, bringing the total to 19,383,729. This adjustment represents a significant 32.87% increase in share count, with a total value of $108.74 million. Howard Marks (Trades, Portfolio) completely exited 12 holdings in the first quarter of 2025, as detailed below: Infinera Corp (INFN): Howard Marks (Trades, Portfolio) sold all 25,175,384 shares, resulting in a -3.41% impact on the portfolio. Sunrise Communications AG (NASDAQ:SNRE): Howard Marks (Trades, Portfolio) liquidated all 1,440,836 shares, causing a -1.28% impact on the portfolio. Howard Marks (Trades, Portfolio) also reduced positions in 16 stocks. The most significant changes include: Reduced Expand Energy Corp (NASDAQ:EXE) by 1,375,000 shares, resulting in a -19.82% decrease in shares and a -2.82% impact on the portfolio. The stock traded at an average price of $104.03 during the quarter and has returned 9.07% over the past 3 months and 15.41% year-to-date. Reduced California Resources Corp (NYSE:CRC) by 670,000 shares, resulting in a -32.73% reduction in shares and a -0.72% impact on the portfolio. The stock traded at an average price of $47.45 during the quarter and has returned -10.62% over the past 3 months and -16.93% year-to-date. At the first quarter of 2025, Howard Marks (Trades, Portfolio)'s portfolio included 55 stocks. The top holdings included 15.45% in TORM PLC (NASDAQ:TRMD), 14.43% in Expand Energy Corp (NASDAQ:EXE), 8.6% in Garrett Motion Inc (NASDAQ:GTX), 5.99% in Sitio Royalties Corp (NYSE:STR), and 4.73% in Anglogold Ashanti PLC (NYSE:AU). The holdings are mainly concentrated in 11 industries: Energy, Basic Materials, Consumer Cyclical, Financial Services, Communication Services, Technology, Real Estate, Healthcare, Utilities, Consumer Defensive, and Industrials. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
31-03-2025
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Oaktree Plans Special Situations Fund as Tariff Threats Grow
(Bloomberg) -- Oaktree Capital Management LP is seeking investors for its latest fund focusing on corporate special situations, according to people familiar with the matter, as a global trade war darkens the outlook for businesses. Gold-Rush Fever Returns to Historic New Zealand Mining Town What Frank Lloyd Wright Learned From the Desert Bank Regulators Fight for Desks as OCC Returns to New York Tower These US Bridges Face High Risk of Catastrophic Ship Strikes Charter Schools, Colleges Push Muni Debt Distress Near Record The Oaktree Special Situations Fund IV may reach about $4 billion, said the people, who asked not to be identified because the matter is private. The previous vintage of this strategy raised $3 billion, they said. The fund will invest in assets such as distressed debt, structured equity or direct equity, the people said. The move comes as the imposition of tariffs between major global economies threatens to hurt supply chains and corporate margins. The firm's previous two funds of this type both had a net internal rate of return of around 30%, the people said. Oaktree's special situations strategy is led by Matt Wilson and Jordon Kruse. A representative for Oaktree declined to comment. It currently invests in companies including fund manager Australian Alternative Asset Partners, US beer manufacturer City Brewing Company and global healthcare firm GenesisCare, according to its website. Trump's IRS Cuts Are Tempting Taxpayers to Cheat Google Is Searching for an Answer to ChatGPT Israel Aims to Be the World's Arms Dealer Business Schools Are Back How a US Maker of Rat-Proof Trash Bins Got Boxed in by Trump's Tariffs ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
31-03-2025
- Bloomberg
Oaktree Plans Special Situations Fund as Tariff Threats Grow
Oaktree Capital Management LP is seeking investors for its latest fund focusing on corporate special situations, according to people familiar with the matter, as a global trade war darkens the outlook for businesses. The Oaktree Special Situations Fund IV may reach about $4 billion, said the people, who asked not to be identified because the matter is private. The previous vintage of this strategy raised $3 billion, they said.
