Oaktree Capital Management released its latest 13F filing with the Securities and Exchange Commission this morning. The firm purchased 22 new stocks and increased its position in 43 others. It cut its holdings in 56 stocks and dumped 29 others.
At the end of March, Oaktree’s top five holdings were EXCO Resources Inc (NYSE:XCO), Masonite International Corp (NYSE:DOOR), First Bancorp (NYSE:FBP), Dynergy Inc. (NYSE:DYN), and Alliance HealthCare Services, Inc. (NASDAQ:AIQ).
Mohnish Pabrai: 6.5x Return On Deep Value Turkish Stock [2020 Letter]
In his year-end letter to investors, Mohnish Pabrai, the Managing Partner of Pabrai Investment Funds, explained that 2020 had more impact on his way of thinking about the market than any other year since 1999. Q4 2020 hedge fund letters, conferences and more Following last year's lessons, Pabrai explained he has decided to move away Read More
Oaktree Capital’s new stocks and increases
During the first three months of the year, Oaktree Capital bought into Oi SA (ADR) (NYSE:OIBR) and Telecom Argentina S.A. (ADR) (NYSE:TEO). The firm snapped up more than 4.4 million shares of Diamond Foods, Inc. (NASDAQ:DMND) and 237,000 shares of Ocwen Financial Corp (NYSE:OCN). Oaktree also purchased 400,000 shares of Paragon Shipping Inc. (NASDAQ:PRGN). Most of the fund’s new additions were debt, like the 89.5 million shares worth of Micron Technology, Inc. (NASDAQ:MU) the firm reported.
The firm’s biggest non-debt related increase was AngloGold Ashanti Limited (ADR) (NYSE:AU), of which it added 998,044 more shares to its portfolio, increasing its holding in the stock by 421%. Oaktree Capital also raised its stake in Trina Solar Limited (ADR) (NYSE:TSL) by 56%, adding almost 645,000 more shares to its holdings in the stock. Other significant increases during the quarter include NetApp Inc. (NASDAQ:NTAP), Apollo Global Management LLC (NYSE:APO), Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM), and Tata Motors Limited (ADR) (NYSE:TTM).
Oaktree’s exits and decreases
During the first quarter, Oaktree Capital sold all of its more than 2.1 imllion shares of Delphi Automotive PLC (NYSE:DLPH) and its approximately 137,000 shares of Baidu Inc (ADR) (NASDAQ:BIDU). The firm also exited Container Store Group Inc (NYSE:TCS).
Oaktree Capital cut its position in Charter Communications, Inc. (NASDAQ:CHTR) by 72%, selling nearly 530,000 shares and leaving it with 200,000 shares left. The firm also reduced its position in E TRADE Financial Corporation (NASDAQ:ETFC), unloading 861,400 shares, leaving it with 1 million shares remaining in its portfolio.