Oaktree Capital Management LP, the investment management firm headed by Howard Marks disclosed that its assets under management (AUM) increased from $4,913,870,000 to $5,191,569,000 based on its 13F filing with the Securities and Exchange Commission (SEC) for the quarter that ended September 30, 2013. Total AUM is far higher, however, many investments are in debt, RE, and other assets not required to be disclosed in 13F filings.
The investment management firm’s portfolio showed that it acquired 20 new stocks, increased its position in 42 equities, reduced its stake in 58 companies, and sold out 26 stocks.
During the quarter, Oaktree Capital’s largest positions include EXCO Resources Inc (NYSE:XCO) and First Bancorp (OTCMKTS:FBPRM) 7.40% NON-CUM PRF SER, which account for 4.767% and 4.57%, respectively. Its top ten stockholdings account for 32.99% of its portfolio.
Oaktree Capital Major new positions
Oaktree Capital’s largest acquisition during the quarter was Masonite International Corp (NYSE:DOOR). The stock accounts for 4.49% and it is the third largest position in its portfolio. The investment management firm’s 4,778,334 shares in the company have a market value of $233,804,000. The stock is trading around $49.45 per share as of this writing.
Masonite International Corp (NYSE:DOOR) is one of the leading designers and manufacturers exterior and interior doors worldwide. The company reported $0.12 earnings per share and $433.1 million net sales during the third quarter.
The investment management firm purchased 78,830,000 shares of Hornbeck Offshore Services, Inc. (NYSE:HOS) worth $101,074,000. The company provides marine transportation services to entities engage exploration and production, oilfield services and offshore construction as well as to the United States military.
Analysts at Wunderlich recently lowered their rating for Hornbeck from Buy to Hold and reduced its price target from $70 to $61 per share. The stock is trading around $53.33 in mid-afternoon trading on Thursday.
Oaktree Capital also acquired a huge position in Air Lease Corp (NASDAQ:AL). The investment management firm purchased 60,600,000 shares worth $78,180,000. During the third quarter, the company reported positive financial results with $0.46 earnings per share on $216 million revenue.
The investment management firm also bought 57,612,000 shares of Wright Medical Group Inc (NASDAQ:WMGI) and 3,865,888 shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) worth $70,710,000 and $39,161,000 million, respectively.
Oaktree Capital Major sold out positions
Oaktree Capital dumped its entire stake in Tesoro Corporation (NYSE:TSO), Caesars Entertainment Corp (NASDAQ:CZR), Advanced Micro Devices, Inc. (NYSE:AMD), Insulet Corporation (NASDAQ:PODD), and The Ryland Group, Inc. (NYSE:RYL).