Oaktree Fund Advisors, LLC

Key Holdings and Their Significance

• ANGLOGOLD ASHANTI PLC ($13.72M, 29.19%): Largest position by far. This single-stock exposure creates significant portfolio sensitivity to gold and gold-mining fundamentals and idiosyncratic company risk (production, jurisdictional, cost structure).
• B / BARRICK MINING CORP ($6.27M, 13.35%): A second sizable mining exposure. Together with AngloGold these two names are major drivers of portfolio returns and downside risk tied to metals prices and mining-sector dynamics.
• HDB / HDFC BANK LTD ($4.64M, 9.88%): Largest explicitly labeled Financial Services holding; gives material India bank exposure following the sale of the INDA ETF.
• GRAB HOLDINGS LTD ($4.19M, 8.91%), NU HOLDINGS LTD ($3.80M, 8.08%), XP INC ($2.20M, 4.68%), plus SE, YMM, BZ: A cluster of fintech/consumer/technology platforms across Latin America, Southeast Asia and China. These positions collectively reflect a growth/EM-platform tilt.
• FCX / FREEPORT-MCMORAN ($3.16M, 6.73%): Additional commodities exposure (copper/other metals), reinforcing the resource bias.
• Remaining positions are relatively small (each <3% of portfolio), indicating most capital is concentrated in the top names.

Sector Allocation and Notable Tilts

• Reported sector totals: Unknown $26.41M (56.2% of portfolio), Basic Materials $9.43M (20.1%), Technology $6.50M (13.8%), Financial Services $4.64M (9.9%).
• The very large “Unknown” bucket (56% of assets) signals data-classification issues in the 13F dataset; several top holdings (e.g., ANGLOGOLD) may be mapped to “Unknown” by the data vendor. Despite that caveat, the economic picture is clear: the portfolio is heavily tilted toward commodity/resource exposure plus emerging-market platform/tech and financial names.
• Combining Basic Materials and likely resource exposure inside Unknown implies roughly 40–60%+ exposure to mining/commodities (depending on mapping), with technology/consumer platforms and financials making up most of the remainder. This is not a broadly diversified sector mix—it's sector-concentrated.