FUND-LEVEL 13F POSITIONING DASHBOARD

Oaktree Capital · 单基金13F持仓深度分析

聚焦增减仓路径、核心底仓结构与行业配置迁移，识别季度内仓位重构信号。

披露季度: 2026Q1 对比基准: 2025Q4 净市值: $6.3B 标的数: 131 仓位变动率: 16.0%

Panel 1: 增仓与建仓

标的	发行人全称	增持/建仓额
▸ 大幅增持 (Top 10)
TORM PLC	TORM PLC	+$148M+28.0%
SUNOPTA INC	SUNOPTA INC	+$55M+70.2%
AMERICAN WAT	AMERICAN WATER CAPITAL CORP	+$52M+1534.7%
CORE SCIENTI	CORE SCIENTIFIC INC	+$42M+27.6%
COINBASE GLO	COINBASE GLOBAL INC	+$41M+384.0%
ENPHASE ENER	ENPHASE ENERGY INC	+$40M+368.5%
BENTLEY SYST	BENTLEY SYSTEMS INC	+$38M+604.2%
TELEPHONE AN	TELEPHONE AND DATA SYSTEMS INC	+$29M+19.5%
UNITY SOFTWA	UNITY SOFTWARE INC	+$26M+297.7%
OKTA INC	OKTA INC	+$19M+68.1%
▸ 新建仓位 (Top 5)
INVESCO QQQ NEW	INVESCO QQQ TRUST SERIES 1	首次建仓市值 $329M
STATE STREETNEW	STATE STREET SPDR S&P OIL & GAS EXP	首次建仓市值 $182M
PETROLEO BRANEW	PETROLEO BRASILEIRO SA - PETROBRAS	首次建仓市值 $126M
CREDO TECHNONEW	CREDO TECHNOLOGY GROUP HOLDING LTD	首次建仓市值 $51M
YPF SANEW	YPF SA	首次建仓市值 $41M

Panel 2: 减持与清仓

标的	发行人全称	减持/清仓额
▸ 大幅减持 (Top 10)
TALEN ENERGY	TALEN ENERGY CORP	$-83M-35.1%
VIPER ENERGY	VIPER ENERGY INC	$-65M-26.6%
CEMEX SAB DE	CEMEX SAB DE CV	$-34M-52.1%
GARRETT MOTI	GARRETT MOTION INC	$-33M-11.0%
NOKIA OYJ	NOKIA OYJ	$-31M-25.8%
GRUPO AEROME	GRUPO AEROMEXICO SAB DE CV	$-27M-33.0%
ALARM COM HO	ALARM COM HOLDINGS INC	$-26M-96.6%
BARRICK MINI	BARRICK MINING CORP	$-22M-17.4%
KILROY REALT	KILROY REALTY CORP	$-17M-24.5%
MGP INGREDIE	MGP INGREDIENTS INC	$-16M-73.2%
▸ 已清仓 (Top 5)
VANECK SEMICEXIT	VANECK SEMICONDUCTOR ETF	-100.0%
STATE STREETEXIT	STATE STREET CORP	-100.0%
INDIVIOR PHAEXIT	INDIVIOR PHARMACEUTICALS INC	-100.0%
FTAI AVIATIOEXIT	FTAI AVIATION LTD	-100.0%
ORACLE CORPEXIT	ORACLE CORP	-100.0%

Panel 3: 核心底仓与行业矩阵（前100持仓）

前 5 大核心重仓股

1. TORM PLC

10.74%

2. EXPAND ENERGY CORP

9.15%

3. INVESCO QQQ TRUST SERIES 1

5.23%

4. ANGLOGOLD ASHANTI PLC

4.99%

5. GARRETT MOTION INC

4.22%

行业配置矩阵演变 (2025Q4 → 2026Q1)

核心行业

权重交叠 (2025Q4 → 2026Q1)

本季度增仓积极，共10个仓位显著增持（合计+$491M），5个全新建仓（合计$729M）。增量资金集中涌入ETF板块（2/15笔），板块集中度显著。

防御性减仓显著：10个仓位减持（-$1.4B），5个完全清仓（-$1.0B），防御姿态明确。减仓高度集中于ETF板块（2/15笔），

板块轮动特征显著：Convertible Bonds+3.7%，Financials+0.5%；Mining -0.8%，Healthcare-3.3%。结构分化清晰。

行业配置整体稳定，AUM-11%，核心仓位无明显偏移