Oaktree Capital

Q4 2021 13F · by Howard Marks, chairman

As of: Dec 31, 2021
Filed: Feb 16, 2022
US stock: $7.6B · prev $5.7B
Positions: 228 · prev 135
Options notional: $494M
Documents: 2· 1 amendment

Picture83.3% US stock

Mostly picture · of what this 13F reports is US stock

US stock listed on a US exchange 83.3%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 11.3%
Puts at notional value 4.5%
Calls at notional value 0.9%

Moves276 since the prior filing

+20.4 pp in · −6.7 pp out

New 142 +25.13 pp
Added 13 −4.76 pp
Trimmed 21 −3.41 pp
Exited 49 −3.34 pp

Options: 51 moves on a notional base, in the table below.

The book

Focused · behaves like 22 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 23% a year, about 4.4 years per position

Low
Moderate
High

Top 5 positions40% of US stock

EXE Expand Energy Corporation added−2.68 pp added−2.6810.2%
VST Vistra Corp. trimmed−0.31 pp trimmed−0.318.6%
SBLK Star Bulk Carriers Corp. held held7.7%
Garrett Motion Inc convertible new+7.57 pp new+7.577.6%
TRMD TORM plc Class A held held5.6%

Revealed late, restated

revealed late 1 name revealed after the original — carried back to this quarter, never shown as a new buy 13F-HR/A · Feb 16, 2022 ↗

Positions228 in this filing · 49 exited


EXEExpand Energy Corporation	10.17%	12,001,153	$774M	added+1%	−2.68 pp	4 q
VSTVistra Corp.	8.64%	28,899,812	$658M	trimmed−3%	−0.31 pp	19 q
SBLKStar Bulk Carriers Corp.	7.74%	25,993,242	$589M	held	—	23 q
Garrett Motion Incconvertible	7.57%	68,834,814	$577M	new	+7.57 pp	new
TRMDTORM plc Class A	5.58%	53,812,988	$425M	held	—	14 q
HTZHertz Global Holdings, Inc	4.79%	14,794,938	$365M	new	+4.79 pp	new
PCGPG&E Corporation	4.78%	30,000,000	$364M	held	—	7 q
ALLYAlly Financial Inc.	4.30%	6,874,687	$327M	held	—	31 q
RWAYRunway Growth Finance Corp.	3.36%	19,979,676	$256M	new	+3.36 pp	new
INFNInfinera Corporation	3.17%	25,175,384	$241M	held	—	13 q
CXCemex S.A.B. de C.V.	2.27%	25,452,572	$173M	added+4%	−0.80 pp	15 q
EGLEEagle Bulk Shipping Inc	2.26%	3,781,561	$172M	held	—	22 q
WFRDWeatherford International plc	2.22%	6,108,916	$169M	new	+2.22 pp	new
STKLSunOpta, Inc.	1.89%	20,726,126	$144M	held	—	20 q
FYBRFrontier Communications Parent, Inc.	1.54%	3,982,849	$117M	held	—	3 q
NMIHNMI Holdings Inc.	1.53%	5,320,000	$116M	held	—	30 q
BRYBerry Corporation (bry)	1.43%	12,913,313	$109M	held	—	12 q
VALEVale S.a.	1.41%	7,668,042	$108M	added+28%	−0.05 pp	6 q
KRCKilroy Realty Corp.	1.34%	1,535,011	$102M	held	—	4 q
PBRPetroleo Brasileiro S.a.-petrobras	1.27%	8,842,639	$97M	added0%	−0.32 pp	8 q
AUAngloGold Ashanti plc	1.17%	4,253,821	$89M	added+3%	+0.02 pp	33 q
ITUBItau Unibanco Holding S.A.	1.11%	22,530,531	$84M	added+6%	−0.85 pp	30 q
FCXFreeport-McMoran Inc.	1.09%	1,985,458	$83M	added+8%	+0.05 pp	2 q
IBNICICI Bank Limited	1.07%	4,109,451	$81M	trimmed−22%	−0.67 pp	30 q
CBLCBL & Associates Properties, Inc.	0.89%	2,164,299	$68M	new	+0.89 pp	new
CIVICivitas Resources, Inc.	0.85%	1,323,788	$65M	new	+0.85 pp	new
COOPMr. Cooper Group Inc.	0.82%	1,507,286	$63M	held	—	13 q
FTAIFTAI Aviation Ltd.	0.77%	2,033,110	$59M	held	—	4 q
SMCISuper Micro Computer, Inc.	0.76%	1,313,000	$58M	trimmed−39%	−0.60 pp	14 q
LBTYKLiberty Global Ltd. Class C	0.69%	1,875,000	$53M	held	—	8 q
MXMagnachip Semiconductor Corp.	0.63%	2,300,000	$48M	added+15%	+0.01 pp	20 q
unresolvedUniti Group Inc	0.63%	3,397,592	$48M	held	—	6 q
unresolvedCvent Holding Corp	0.54%	5,000,000	$41M	new	+0.54 pp	new
BAPCredicorp LTD	0.53%	328,331	$40M	new	+0.53 pp	new
VALValaris Limited	0.51%	1,080,184	$39M	held	—	3 q
unresolvedAzul Sa-adr	0.48%	2,794,724	$37M	added+33%	−0.26 pp	19 q
PARRPar Pacific Holdings, Inc.	0.48%	2,210,000	$36M	held	—	3 q
MTGMGIC Investment Corp.	0.45%	2,358,000	$34M	held	—	35 q
FSCOaktree Specialty Lending Corporation	0.44%	4,490,368	$33M	held	—	17 q
BBDBanco Bradesco S.A.	0.40%	8,872,492	$30M	trimmed−56%	−0.96 pp	9 q
ONITOnity Group Inc.	0.40%	756,870	$30M	added+27%	+0.11 pp	3 q
BATLBattalion Oil Corporation	0.39%	3,009,912	$29M	held	—	8 q
GTXGarrett Motion Inc.	0.38%	3,593,111	$29M	held	—	3 q
HIMSHims & Hers Health, Inc.	0.32%	3,773,437	$25M	held	—	4 q
AFYAAfya Limited Class A	0.32%	1,561,576	$25M	trimmed−5%	−0.25 pp	10 q
TVGrupo Televisa S.A.	0.31%	2,524,761	$24M	trimmed−11%	−0.23 pp	11 q
BAC.PRLBank Of America Corp	0.25%	13,208	$19M	new	+0.25 pp	new
PAMPampa Energia S.a.	0.23%	829,000	$18M	held	—	14 q
VISTVista Energy S.A.B. de C.V.	0.22%	3,215,002	$17M	trimmed−1%	−0.07 pp	10 q
LBRDKLiberty Broadband Corporation Class C	0.18%	86,999	$14M	held	—	5 q
TEOTelecom Argentina S.A.	0.15%	2,220,500	$11M	trimmed−2%	−0.05 pp	15 q
WFC.PRLWells Fargo & Company	0.13%	6,417	$10M	new	+0.13 pp	new
TGSTransportadora de Gas del Sur S.A.	0.11%	1,963,575	$9M	held	—	14 q
NVACUNorthview Acquisition Corp	0.10%	750,000	$8M	new	+0.10 pp	new
unresolvedAetherium Acquisition Corp	0.09%	700,000	$7M	new	+0.09 pp	new
unresolvedLarkspur Health Acquisition Corp	0.09%	700,000	$7M	new	+0.09 pp	new
RSVRReservoir Media, Inc.	0.09%	849,000	$7M	added+81%	+0.02 pp	2 q
unresolvedSagaliam Acquisition Corp	0.09%	700,000	$7M	new	+0.09 pp	new
BELFBBel Fuse Inc	0.08%	462,679	$6M	held	—	16 q
unresolvedBurtech Acquisition Corp	0.08%	600,000	$6M	new	+0.08 pp	new
unresolvedAult Disruptive Technologies Corp	0.07%	500,000	$5M	new	+0.07 pp	new
unresolvedCanna-global Acquisition Corp	0.07%	500,000	$5M	new	+0.07 pp	new
unresolvedIndustrial Human Capital Inc	0.07%	500,000	$5M	new	+0.07 pp	new
unresolvedJupiter Wellness Acquisition Corp	0.07%	500,000	$5M	new	+0.07 pp	new
unresolvedAscendant Digital Acquisition Corp III	0.07%	500,000	$5M	new	+0.07 pp	new
ASCArdmore Shipping Corporation	0.07%	1,600,000	$5M	held	—	8 q
unresolvedDigital Health Acquisition Corp	0.06%	500,000	$5M	new	+0.06 pp	new
FEXDUFintech Ecosystem Development Corp.	0.06%	450,000	$5M	new	+0.06 pp	new
Flagstar Bank Naconvertible	0.06%	87,636	$5M	trimmed−2%	−0.02 pp	4 q
WTMAUWelsbach Technology Metals Acquisition Corp.	0.06%	450,000	$5M	new	+0.06 pp	new
XPXP Inc. Class A	0.06%	161,799	$5M	new	+0.06 pp	new
unresolvedAlpine Acquisition Corp	0.05%	350,000	$4M	new	+0.05 pp	new
AOGOUArogo Capital Acq Crp Uts	0.05%	400,000	$4M	new	+0.05 pp	new
unresolvedAvalon Acquisition Inc	0.05%	375,000	$4M	new	+0.05 pp	new
unresolvedDeep Medicine Acquisition Corp	0.05%	425,000	$4M	new	+0.05 pp	new
DSAQDirect Selling Acquisition Corp.	0.05%	350,000	$3M	new	+0.05 pp	new
unresolvedFinancial Strategies Acquisition Corp	0.05%	400,000	$4M	new	+0.05 pp	new
unresolvedGardiner Healthcare Acquisitions Corp	0.05%	400,000	$4M	new	+0.05 pp	new
IGTAUInception Growth Acq Uts	0.05%	400,000	$4M	new	+0.05 pp	new
unresolvedMount Rainier Acquisition Corp	0.05%	400,000	$4M	new	+0.05 pp	new
unresolvedRoc Energy Acquisition Corp	0.05%	400,000	$4M	new	+0.05 pp	new
unresolvedSanaby Health Acquisition Corp I	0.05%	350,000	$3M	new	+0.05 pp	new
ALSUFAlpha Star Acq Corp Uts	0.05%	400,000	$4M	new	+0.05 pp	new
unresolvedEnergem Corp	0.05%	400,000	$4M	new	+0.05 pp	new
unresolvedIconic Sports Acquisition Corp	0.05%	400,000	$4M	new	+0.05 pp	new
unresolvedRigel Resource Acquisition Corp	0.05%	350,000	$3M	new	+0.05 pp	new
unresolvedSpree Acquisition Corp 1 Ltd	0.05%	350,000	$4M	new	+0.05 pp	new
unresolvedAccretion Acquisition Corp	0.04%	350,000	$3M	new	+0.04 pp	new
unresolvedBeard Energy Transition Acquisition Corp	0.04%	300,000	$3M	new	+0.04 pp	new
unresolvedBlockchain Moon Acquisition Corp	0.04%	275,000	$3M	new	+0.04 pp	new
unresolvedCenaq Energy Corp	0.04%	300,000	$3M	new	+0.04 pp	new
unresolvedFirst Light Acquisition Group Inc	0.04%	300,000	$3M	new	+0.04 pp	new
unresolvedFortune Rise Acquisition Corp	0.04%	275,000	$3M	new	+0.04 pp	new
GLLIGlobalink Investment Inc.	0.04%	350,000	$3M	new	+0.04 pp	new
unresolvedLiberty Resources Acquisition Corp	0.04%	325,000	$3M	new	+0.04 pp	new
unresolvedMaxpro Capital Acquisition Corp	0.04%	300,000	$3M	new	+0.04 pp	new
unresolvedMinority Equality Opportunities Acquisition Inc	0.04%	275,000	$3M	new	+0.04 pp	new
WINVWinvest Acq Corp	0.04%	300,000	$3M	new	+0.04 pp	new
unresolvedApx Acquisition Corp I	0.04%	300,000	$3M	new	+0.04 pp	new
unresolvedMountain & Co I Acquisition Corp	0.04%	300,000	$3M	new	+0.04 pp	new
unresolvedOnyx Acquisition Co I	0.04%	300,000	$3M	new	+0.04 pp	new
unresolvedGogreen Investments Corp	0.04%	300,000	$3M	new	+0.04 pp	new
unresolvedAchari Ventures Holdings Corp I	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedAlpha Healthcare Acquisition Corp III	0.03%	200,000	$2M	held	—	2 q
unresolvedArisz Acquisition Corp	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedArmada Acquisition Corp I	0.03%	250,000	$2M	new	+0.03 pp	new
unresolvedBanner Acquisition Corp	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedBelong Acquisition Corp	0.03%	200,000	$2M	held	—	2 q
unresolvedBlack Mountain Acquisition Corp	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedChardan Nextech Acquisition 2 Corp	0.03%	225,000	$2M	held	—	2 q
unresolvedClover Leaf Capital Corp	0.03%	200,000	$2M	held	—	2 q
EVCOUEverest Consolidator Uts	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedFuture Health Esg Corp	0.03%	250,000	$2M	new	+0.03 pp	new
unresolvedGlobal Systems Dynamics Inc	0.03%	250,000	$2M	held	—	2 q
unresolvedJuniper II Corp	0.03%	250,000	$3M	new	+0.03 pp	new
unresolvedLava Medtech Acquisition Corp	0.03%	250,000	$3M	new	+0.03 pp	new
LIONLionheart III Corp -class A	0.03%	250,000	$2M	new	+0.03 pp	new
unresolvedMercato Partners Acquisition Corp	0.03%	250,000	$2M	new	+0.03 pp	new
unresolvedMercury Ecommerce Acquisition Corp	0.03%	200,000	$2M	held	—	2 q
unresolvedNabors Energy Transition Corp	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedPacifico Acquisition Corp	0.03%	225,000	$2M	new	+0.03 pp	new
unresolvedParabellum Acquisition Corp	0.03%	200,000	$2M	new	+0.03 pp	new
PSTHPershing Square Tontine Holdings, Ltd.	0.03%	100,000	$2M	held	—	2 q
unresolvedPhoenix Biotech Acquisition Corp	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedPono Capital Corp	0.03%	250,000	$2M	new	+0.03 pp	new
unresolvedRoth Ch Acquisition IV Co	0.03%	200,000	$2M	held	—	2 q
unresolvedSierra Lake Acquisition Corp	0.03%	250,000	$2M	new	+0.03 pp	new
unresolvedSoftware Acquisition Group Inc III	0.03%	200,000	$2M	held	—	2 q
SWSSClean Engy Spcl Situtins	0.03%	250,000	$2M	held	—	2 q
unresolvedVeon Ltd	0.03%	1,267,678	$2M	trimmed−15%	−0.02 pp	20 q
unresolvedVmg Consumer Acquisition Corp	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedBlockchain Coinvestors Acquisition Corp I	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedBlue Ocean Acquisition Corp	0.03%	250,000	$3M	new	+0.03 pp	new
unresolvedBullpen Parlay Acquisition Co	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedChw Acquisition Corp	0.03%	200,000	$2M	held	—	2 q
unresolvedColiseum Acquisition Corp	0.03%	200,000	$2M	held	—	2 q
unresolvedCrypto 1 Acquisition Corp	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedFat Projects Acquisition Corp	0.03%	210,000	$2M	new	+0.03 pp	new
GTACGlobal Technology Acquisit-a	0.03%	200,000	$2M	new	+0.03 pp	new
GGAUFGenesis Growth Tech Uts	0.03%	201,400	$2M	new	+0.03 pp	new
FNVTFinnovate Acquisition Corp-a	0.03%	220,000	$2M	new	+0.03 pp	new
unresolvedAgrico Acquisition Corp	0.03%	200,000	$2M	held	—	2 q
unresolvedInfint Acquisition Corp	0.03%	250,000	$3M	new	+0.03 pp	new
IXAQFIx Acquisition Corp A	0.03%	200,000	$2M	new	+0.03 pp	new
unresolvedMacondray Capital Acquisition Corp I	0.03%	250,000	$2M	held	—	2 q
JTAIJet.AI Inc.	0.03%	250,000	$2M	new	+0.03 pp	new
unresolvedThrive Acquisition Corp	0.03%	200,000	$2M	new	+0.03 pp	new
unresolved7 Acquisition Corp	0.03%	250,000	$2M	new	+0.03 pp	new
unresolvedSoar Technology Acquisition Corp	0.03%	250,000	$3M	new	+0.03 pp	new
unresolvedCascadia Acquisition Corp	0.02%	150,000	$1M	new	+0.02 pp	new
unresolvedDtrt Health Acquisition Corp	0.02%	150,000	$1M	new	+0.02 pp	new
unresolvedGlobal Consumer Acquisition Corp	0.02%	150,000	$1M	held	—	2 q
IEAInfrastructure and Energy Alternatives, Inc.	0.02%	129,079	$1M	added+36%	0.00 pp	2 q
unresolvedInsight Acquisition CORP/DE	0.02%	150,000	$1M	new	+0.02 pp	new
LOMALoma Negra Compañía Industrial Argentina Sociedad Anónima	0.02%	250,924	$2M	trimmed−23%	−0.02 pp	11 q
unresolvedMonterey Bio Acquisition Corp	0.02%	150,000	$1M	new	+0.02 pp	new
unresolvedNorthern Lights Acquisition Corp	0.02%	150,000	$2M	held	—	2 q
unresolvedOmnilit Acquisition Corp	0.02%	140,000	$1M	new	+0.02 pp	new
unresolvedOsiris Acquisition Corp	0.02%	150,000	$1M	held	—	2 q
unresolvedShoulderup Technology Acquisition Corp	0.02%	175,000	$2M	new	+0.02 pp	new
unresolvedTastemaker Acquisition Corp	0.02%	150,000	$1M	held	—	2 q
unresolvedThunder Bridge Capital Partners IV Inc	0.02%	150,000	$1M	held	—	2 q
unresolvedVision Sensing Acquisition Corp	0.02%	150,000	$1M	new	+0.02 pp	new
unresolvedWilliams Rowland Acquisition Corp	0.02%	150,000	$1M	held	—	2 q
unresolvedAfternext Healthtech Acquisition Corp	0.02%	150,000	$1M	new	+0.02 pp	new
unresolvedBlue Whale Acquisition Corp I	0.02%	150,000	$1M	new	+0.02 pp	new
unresolvedEndurance Acquisition Corp	0.02%	150,000	$1M	new	+0.02 pp	new
unresolvedFintech Evolution Acquisition Group	0.02%	150,000	$1M	held	—	2 q
unresolvedKairous Acquisition Corp Ltd	0.02%	150,000	$2M	new	+0.02 pp	new
unresolvedPerception Capital Corp II	0.02%	150,000	$1M	new	+0.02 pp	new
unresolvedSemper Paratus Acquisition Corp	0.02%	125,000	$1M	new	+0.02 pp	new
unresolvedTpb Acquisition Corp I	0.02%	148,000	$1M	new	+0.02 pp	new
ARCKArbor Rapha Capital Bioholdings Corp. I Class A	0.01%	100,000	$995,000	new	+0.01 pp	new
unresolvedArena Fortify Acquisition Corp	0.01%	50,000	$506,000	new	+0.01 pp	new
unresolvedArgus Capital Corp	0.01%	100,000	$990,000	new	+0.01 pp	new
ACAQAthena Consumer Acquisition Corp.	0.01%	100,000	$1M	new	+0.01 pp	new
BELFABel Fuse Inc	0.01%	71,613	$1M	held	—	15 q
unresolvedBuild Acquisition Corp	0.01%	51,000	$496,000	held	—	2 q
unresolvedCiig Capital Partners II Inc	0.01%	69,921	$690,000	new	+0.01 pp	new
unresolvedColombier Acquisition Corp	0.01%	50,000	$482,000	trimmed−75%	−0.02 pp	2 q
unresolvedGood Works II Acquisition Corp	0.01%	100,000	$980,000	trimmed−50%	−0.02 pp	2 q
unresolvedGraf Acquisition Corp IV	0.01%	100,000	$967,000	trimmed−33%	−0.02 pp	2 q
unresolvedHealthwell Acquisition Corp I	0.01%	100,000	$969,000	trimmed−50%	−0.02 pp	2 q
unresolvedIntegrated Rail And Resources Acquisition Corp	0.01%	100,000	$1M	new	+0.01 pp	new
unresolvedIntelligent Medicine Acquisition Corp	0.01%	100,000	$990,000	new	+0.01 pp	new
unresolvedLf Capital Acquisition Corp II	0.01%	50,000	$504,000	new	+0.01 pp	new
unresolvedLegato Merger Corp II	0.01%	100,000	$993,000	new	+0.01 pp	new
unresolvedLogistics Innovtn Technlgs C	0.01%	100,000	$969,000	trimmed−33%	−0.02 pp	2 q
unresolvedMarblegate Acquisition Corp	0.01%	100,000	$977,000	new	+0.01 pp	new
MCAGMountain Crest Acq V	0.01%	75,000	$732,000	new	+0.01 pp	new
unresolvedOca Acquisition Corp	0.01%	103,920	$1M	held	—	2 q
unresolvedParsec Capital Acquisitions Corp	0.01%	75,000	$743,000	new	+0.01 pp	new
unresolvedProof Acquisition Corp I	0.01%	75,000	$750,000	new	+0.01 pp	new
unresolvedRiverview Acquisition Corp	0.01%	100,000	$991,000	new	+0.01 pp	new
unresolvedSeaport Global Acquisition II Corp	0.01%	50,000	$494,000	new	+0.01 pp	new
unresolvedShelter Acquisition Corp I	0.01%	50,000	$486,000	trimmed−67%	−0.02 pp	2 q
SRNESorrento Therapeutics Inc	0.01%	150,000	$697,000	added+12%	−0.01 pp	4 q
unresolvedAlsp Orchid Acquisition Corp I	0.01%	75,000	$757,000	new	+0.01 pp	new
unresolvedWaverley Capital Acquisition Corp 1	0.01%	100,000	$970,000	new	+0.01 pp	new
unresolvedAvista Public Acquisition Corp II	0.01%	100,000	$998,000	trimmed−60%	−0.03 pp	2 q
unresolvedBioplus Acquisition Corp	0.01%	100,000	$1M	new	+0.01 pp	new
unresolvedChavant Capital Acquisition Corp	0.01%	75,000	$738,000	trimmed−50%	−0.02 pp	2 q
unresolvedCorsair Partnering Corp	0.01%	75,000	$732,000	trimmed−50%	−0.02 pp	2 q
unresolved8I Acquisition 2 Corp	0.01%	100,000	$975,000	new	+0.01 pp	new
unresolvedEmerging Markets Horizon Corp	0.01%	40,000	$400,000	new	+0.01 pp	new
ZEOZeo Energy Corporation Class A	0.01%	75,000	$744,000	new	+0.01 pp	new
unresolvedGreen Visor Financial Technology Acquisition Corp I	0.01%	50,000	$506,000	new	+0.01 pp	new
unresolvedInnovative International Acquisition Corp	0.01%	100,000	$1M	new	+0.01 pp	new
WELUFIntegrated Wellness Uts	0.01%	100,000	$1M	new	+0.01 pp	new
unresolvedLamf Global Ventures Corp I	0.01%	100,000	$1M	new	+0.01 pp	new
unresolvedWorld Quantum Growth Acquisition Corp	0.01%	100,000	$981,000	new	+0.01 pp	new
unresolvedMotive Capital Corp II	0.01%	100,000	$997,000	new	+0.01 pp	new
unresolvedAlpha Partners Technology Merger Corp	0.01%	100,000	$971,000	trimmed−50%	−0.02 pp	2 q
NENoble Corporation plc	0.01%	19,979	$495,000	held	—	3 q
PHYTFPyrophyte Acq Corp A	0.01%	100,000	$991,000	new	+0.01 pp	new
unresolvedTlgy Acquisition Corp	0.01%	100,000	$1M	new	+0.01 pp	new
unresolved10X Capital Venture Acquisition Corp II	0.01%	50,000	$489,000	new	+0.01 pp	new
unresolvedTrine II Acquisition Corp	0.01%	100,000	$985,000	new	+0.01 pp	new
unresolvedVahanna Tech Edge Acquisition I Corp	0.01%	50,000	$503,000	new	+0.01 pp	new
unresolvedArisz Acquisition Corp	0.00%	200,000	$35,000	new	0.00 pp	new
unresolvedConcord Acquisition Corp III	0.00%	25,000	$247,000	new	0.00 pp	new
unresolvedDeep Medicine Acquisition Corp	0.00%	425,000	$136,000	new	0.00 pp	new
GLLIRGlobalink Investment Inc. Rights	0.00%	350,000	$98,000	new	0.00 pp	new
MCAGRMountain Crest Acq V Rts	0.00%	75,000	$26,000	new	0.00 pp	new
unresolvedRoc Energy Acquisition Corp	0.00%	400,000	$124,000	new	0.00 pp	new
unresolvedSizzle Acquisition Corp	0.00%	25,000	$254,000	new	0.00 pp	new
unresolved8I Acquisition 2 Corp	0.00%	100,000	$28,000	new	0.00 pp	new
unresolvedTkb Critical Technologies 1	0.00%	25,000	$246,000	new	0.00 pp	new
unresolvedExtraction Oil & Gas Inc	—	−1,113,995	—	exited	−1.10 pp	—
CXPColumbia Property Trust, Inc.	—	−1,320,000	—	exited	−0.44 pp	—
BAKBraskem S.A.	—	−519,550	—	exited	−0.20 pp	—
unresolvedOaktree Acquisition Corp II	—	−4,666,667	—	exited	−0.07 pp	—
unresolvedAlpine Acquisition Corp	—	−350,000	—	exited	−0.06 pp	—
DSAQUDirect Selling Acquisition C	—	−350,000	—	exited	−0.06 pp	—
unresolvedCenaq Energy Corp	—	−300,000	—	exited	−0.05 pp	—
unresolvedFirst Light Acquisition Group Inc	—	−300,000	—	exited	−0.05 pp	—
unresolvedMinority Equality Opportunities Acquisition Inc	—	−275,000	—	exited	−0.05 pp	—
unresolvedWinvest Acquisition Corp	—	−300,000	—	exited	−0.05 pp	—
unresolvedFuture Health Esg Corp	—	−250,000	—	exited	−0.04 pp	—
unresolvedJupiter Acquisition Corp	—	−250,000	—	exited	−0.04 pp	—
unresolvedPacifico Acquisition Corp	—	−225,000	—	exited	−0.04 pp	—
unresolvedPono Capital Corp	—	−250,000	—	exited	−0.04 pp	—
unresolvedSierra Lake Acquisition Corp	—	−250,000	—	exited	−0.04 pp	—
unresolvedDecarbonization Plus Acquisition Corp IV	—	−250,000	—	exited	−0.04 pp	—
unresolvedWorld Quantum Growth Acquisition Corp	—	−200,000	—	exited	−0.04 pp	—
unresolvedOxbridge Acquisition Corp	—	−250,000	—	exited	−0.04 pp	—
unresolvedSoar Technology Acquisition Corp	—	−250,000	—	exited	−0.04 pp	—
unresolvedAmci Acquisition Corp II	—	−200,000	—	exited	−0.03 pp	—
unresolvedAcropolis Infrastructure Acquisition Corp	—	−200,000	—	exited	−0.03 pp	—
unresolvedArmada Acquisition Corp I	—	−200,000	—	exited	−0.03 pp	—
unresolvedAxonprime Infrastructure Acquisition Corp	—	−200,000	—	exited	−0.03 pp	—
unresolvedBanner Acquisition Corp	—	−200,000	—	exited	−0.03 pp	—
unresolvedBilander Acquisition Corp	—	−200,000	—	exited	−0.03 pp	—
unresolvedCascadia Acquisition Corp	—	−150,000	—	exited	−0.03 pp	—
unresolvedDtrt Health Acquisition Corp	—	−150,000	—	exited	−0.03 pp	—
unresolvedEg Acquisition Corp	—	−150,000	—	exited	−0.03 pp	—
unresolvedInsight Acquisition CORP/DE	—	−150,000	—	exited	−0.03 pp	—
OIBR/USDOi Sa-adr	—	−2,201,646	—	exited	−0.03 pp	—
unresolvedParabellum Acquisition Corp	—	−200,000	—	exited	−0.03 pp	—
unresolvedRiverview Acquisition Corp	—	−200,000	—	exited	−0.03 pp	—
unresolvedAfternext Healthtech Acquisition Corp	—	−150,000	—	exited	−0.03 pp	—
unresolvedAusterlitz Acquisition Corp II	—	−150,000	—	exited	−0.03 pp	—
unresolvedWaverley Capital Acquisition Corp 1	—	−200,000	—	exited	−0.03 pp	—
unresolvedBlue Whale Acquisition Corp I	—	−150,000	—	exited	−0.03 pp	—
unresolvedElliott Opportunity II Corp	—	−200,000	—	exited	−0.03 pp	—
unresolvedEndurance Acquisition Corp	—	−150,000	—	exited	−0.03 pp	—
unresolvedJatt Acquisition Corp	—	−150,000	—	exited	−0.03 pp	—
unresolvedMetals Acquisition Corp	—	−200,000	—	exited	−0.03 pp	—
PFTAUPerception Capital Corp III	—	−150,000	—	exited	−0.03 pp	—
unresolved10X Capital Venture Acquisition Corp II	—	−150,000	—	exited	−0.03 pp	—
unresolvedTortoiseecofin Acquisition Corp III	—	−150,000	—	exited	−0.03 pp	—
unresolvedTpb Acquisition Corp I	—	−150,000	—	exited	−0.03 pp	—
ZLSSFZalatoris II Acquisition Cor	—	−200,000	—	exited	−0.03 pp	—
unresolvedArgus Capital Corp	—	−100,000	—	exited	−0.02 pp	—
unresolvedFintech Acquisition Corp Vi	—	−125,000	—	exited	−0.02 pp	—
unresolvedMcap Acquisition Corp	—	−100,000	—	exited	−0.02 pp	—
unresolvedCiig Capital Partners II Inc	—	−69,600	—	exited	−0.01 pp	—

Other 13(f) securities

Options 32

Contract	% of notional	Shares	Notional
SPY PUT	60.63%	630,000	$299M
IWM PUT	22.54%	500,000	$111M
COOP CALL	8.43%	1,000,000	$42M
EXEEL CALL	5.36%	808,001	$26M
EXEEZ CALL	1.09%	150,000	$5M
Oaktree Acquisition Corp II CALL	1.00%	4,666,667	$5M
EXEEW CALL	0.61%	75,810	$3M
Digital Health Acquisition Corp CALL	0.04%	500,000	$195,000
Juniper II Corp CALL	0.02%	125,000	$98,000
Liberty Resources Acquisition Corp CALL	0.02%	325,000	$123,000
Mercato Partners Acquisition Corp CALL	0.02%	125,000	$75,000
US Well Services Inc CALL	0.02%	1,500,000	$112,000
Fat Projects Acquisition Corp CALL	0.02%	210,000	$78,000
Mountain & Co I Acquisition Corp CALL	0.02%	150,000	$94,000
Rigel Resource Acquisition Corp CALL	0.02%	175,000	$105,000
7 Acquisition Corp CALL	0.02%	125,000	$75,000
Accretion Acquisition Corp CALL	0.01%	175,000	$69,000
Achari Ventures Holdings Corp I CALL	0.01%	200,000	$66,000
Arisz Acquisition Corp CALL	0.01%	200,000	$55,000
GLLIW CALL	0.01%	350,000	$70,000
Legato Merger Corp II CALL	0.01%	50,000	$25,000
CEROW CALL	0.01%	100,000	$42,000
Vision Sensing Acquisition Corp CALL	0.01%	112,500	$45,000
Winvest Acquisition Corp CALL	0.01%	299,900	$58,000
Finnovate Acquisition Corp CALL	0.01%	165,000	$62,000
IXQWF CALL	0.01%	100,000	$40,000
Perception Capital Corp II CALL	0.01%	75,000	$33,000
PHYWF CALL	0.01%	50,000	$28,000
Trine II Acquisition Corp CALL	0.01%	50,000	$30,000
Arbor Rapha Capital Bioholdings Corp I CALL	0.00%	33,333	$16,000
Concord Acquisition Corp III CALL	0.00%	12,500	$8,000
Intelligent Medicine Acquisition Corp CALL	0.00%	50,000	$24,000

Notes 112

Issue	% of notes	Principal	Value
Cbl & Associates Hold	6.11%	32,852,258	$63M
Eagle Bulk Shipping Inc	5.60%	40,495,000	$58M
Dish Network Corp	3.88%	42,051,000	$40M
Acres Commercial Realty	2.83%	29,021,000	$29M
Fortive Corporation	2.29%	23,475,000	$24M
Precigen Inc	2.29%	29,429,000	$24M
Hope Bancorp Inc	2.06%	21,636,000	$21M
Lendingtree Inc	2.00%	24,618,000	$21M
Supernus Pharmaceuticals	1.92%	19,901,000	$20M
Sfl Corp Ltd	1.88%	18,930,000	$19M
Digitalbridge Group Inc	1.84%	18,293,000	$19M
Kaman Corp	1.83%	18,096,000	$19M
Ligand Pharmaceuticals I	1.82%	18,672,000	$19M
Apollo Cmmrl Real Est Fi	1.81%	18,218,000	$19M
Mfa Financial Inc	1.74%	17,225,000	$18M
Dish Network Corp	1.73%	18,552,000	$18M
Mandiant Inc	1.71%	17,585,000	$18M
New Mountain Finance Cor	1.70%	16,467,000	$17M
Western Digital Corp	1.69%	17,100,000	$17M
Goldman Sachs Bdc Inc	1.68%	17,060,000	$17M
Ionis Pharmaceuticals In	1.67%	19,075,000	$17M
Rwt Holdings Inc	1.58%	15,797,000	$16M
Tilray Brands Inc	1.46%	15,214,000	$15M
Kkr Real Estate Fin	1.39%	13,452,000	$14M
Pennymac Corp	1.31%	13,375,000	$13M
Blackstone Mortgage Tr	1.24%	12,607,000	$13M
Ezcorp Inc	1.20%	13,596,000	$12M
Blackstone Mortgage Tr	1.13%	11,317,000	$12M
Blackrock Tcp Cap Corp	1.10%	11,248,000	$11M
New York Mortgage Trust	1.09%	11,066,000	$11M
Nice Ltd	1.03%	8,715,000	$11M
Alteryx Inc	1.01%	11,042,000	$10M
Innoviva Inc	1.01%	9,501,000	$10M
Akamai Technologies Inc	1.00%	8,769,000	$10M
Travere Therapeutics Inc	1.00%	9,310,000	$10M
Arbor Realty Trust Inc	0.99%	9,225,000	$10M
Hello Group Inc	0.97%	11,530,000	$10M
Weibo Corp	0.90%	9,449,000	$9M
Pretium Resources Inc	0.86%	8,804,000	$9M
Splunk Inc	0.85%	7,881,000	$9M
Veeco Instruments Inc	0.83%	8,358,000	$9M
New Relic Inc	0.82%	7,101,000	$8M
Redwood Trust Inc	0.81%	8,071,000	$8M
Helix Energy Solutions	0.76%	7,752,000	$8M
Chegg Inc	0.75%	9,262,000	$8M
Starwood Property Trust	0.75%	7,291,000	$8M
Theravance Biopharma Inc	0.71%	7,509,000	$7M
Transocean Inc	0.69%	7,841,000	$7M
Jazz Investments I Ltd	0.64%	5,775,000	$7M
Ares Capital Corp	0.63%	5,683,000	$7M
Twitter Inc	0.63%	5,886,000	$6M
Intercept Pharmas	0.60%	6,494,000	$6M
Vail Resorts Inc	0.60%	5,759,000	$6M
Apollo Cmmrl Real Est Fi	0.59%	5,999,000	$6M
Lumentum Holdings Inc	0.57%	4,662,000	$6M
Jazz Investments I Ltd	0.56%	5,742,000	$6M
Dexcom Inc	0.54%	4,686,000	$6M
Quotient Technology Inc	0.54%	5,562,000	$6M
Golar Lng Ltd	0.52%	5,324,000	$5M
Tabula Rasa Hlthcr Inc	0.50%	6,189,000	$5M
Exact Sciences Corp	0.49%	4,976,000	$5M
Sea Ltd	0.47%	5,211,000	$5M
Insmed Inc	0.46%	4,367,999	$5M
Pdd Holdings Inc	0.46%	5,248,000	$5M
Trip.com Group Ltd	0.45%	4,899,000	$5M
Two Harbors Inv Corp	0.44%	4,457,000	$4M
Nuvasive Inc	0.43%	4,386,000	$4M
Pebblebrook Hotel Trust	0.43%	4,009,000	$4M
Biomarin Pharmaceutical	0.42%	4,103,000	$4M
Karyopharm Therapeutics	0.42%	5,277,000	$4M
I3 Verticals LLC	0.40%	4,425,000	$4M
Liveperson Inc	0.39%	4,700,000	$4M
Block Inc	0.38%	3,793,000	$4M
Aurora Cannabis Inc	0.37%	4,464,000	$4M
Baozun Inc	0.37%	4,059,000	$4M
Guardant Health Inc	0.37%	3,719,000	$4M
Pegasystems Inc	0.37%	3,546,000	$4M
Cyberark Software Ltd	0.35%	2,859,000	$4M
Nabors Industries Inc	0.35%	4,101,000	$4M
Paratek Pharmaceuticals	0.35%	3,891,000	$4M
Radius Health Inc	0.35%	3,652,000	$4M
Coupa Software Inc	0.34%	3,628,000	$3M
Integra Lifesciences Hld	0.34%	3,200,000	$3M
Invacare Corp	0.34%	3,893,000	$3M
Okta Inc	0.34%	2,904,000	$3M
Interdigital Inc	0.32%	3,004,000	$3M
1LIFE Healthcare Inc	0.32%	3,653,000	$3M
Greenlight Capital Re	0.31%	3,373,000	$3M
Lendingtree Inc	0.31%	3,252,000	$3M
Joyy Inc	0.31%	3,491,000	$3M
H World Group Ltd	0.30%	3,000,000	$3M
Helix Energy Solutions	0.30%	3,159,000	$3M
Ssr Mining Inc	0.28%	2,342,000	$3M
Nuvasive Inc	0.26%	2,815,000	$3M
Ringcentral Inc	0.26%	2,995,000	$3M
Mandiant Inc	0.25%	2,418,000	$3M
Nrg Energy Inc	0.24%	2,101,000	$3M
Horizon Global Corp	0.23%	2,459,000	$2M
Herbalife Ltd	0.22%	2,297,000	$2M
Benefitfocus Inc	0.19%	2,009,000	$2M
Illumina Inc	0.19%	1,664,000	$2M
Pure Storage Inc	0.19%	1,483,000	$2M
Granite Point Mtge Trst	0.18%	1,791,000	$2M
Uber Technologies Inc	0.18%	1,870,000	$2M
Microchip Technology Inc	0.17%	1,376,000	$2M
Wix Ltd	0.17%	2,000,000	$2M
Redwood Trust Inc	0.16%	1,637,000	$2M
Teekay Corp	0.16%	1,602,000	$2M
Zillow Group Inc	0.13%	1,000,000	$1M
Shopify Inc	0.12%	1,011,000	$1M
Iqiyi Inc	0.08%	1,217,000	$850,000
Edgio Inc	0.08%	812,000	$779,000

Source

Forms: 13F-HR · 13F-HR/A
Reading: 0 defects · 142 unresolved
Accession: 0000949509-22-000001
: 0000949509-22-000002
SEC cross-check: SEC data set not published yet

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