v3.26.1
INVESTMENTS (Tables)
 3 Months Ended
Mar. 31, 2026
Investments [Abstract]  
Schedule of Corporate Investments and Equity-Method Investments
Corporate investments consisted of the following:
As of
Corporate InvestmentsMarch 31, 2026December 31, 2025
Equity-method investments:
Funds$317,275 $315,801 
Companies1,120,915 1,114,972 
Total corporate investments$1,438,190 $1,430,773 
Summarized financial information of Oaktree Capital I is set forth below.
Three months ended March 31,
Statements of Operations20262025
Revenues / investment income$72,719 $48,907 
Interest expense(14,364)(9,792)
Other expenses(19,863)(18,087)
Net realized and unrealized gain on investments(41,532)(8,405)
Net (loss) income$(3,040)$12,623 
Summarized financial information of the Company’s remaining equity-method investments is set forth below.
Three months ended March 31,
Statements of Operations20262025
Revenues / investment income$42,286 $42,434 
Interest expense(14,008)(14,525)
Other expenses(34,151)(31,700)
Net realized and unrealized gain on investments5,360 10,129 
Net (loss) income$(513)$6,338 
Schedule of Investments, at Fair Value
Investments held and securities sold short by the consolidated funds are summarized below:
Fair Value as ofFair Value as a Percentage of Investments of Consolidated Funds as of
InvestmentsMarch 31, 2026December 31, 2025March 31, 2026December 31, 2025
United States:    
Debt securities (cost:$1,522,299 and $1,410,932 as of March 31, 2026 and December 31, 2025, respectively)
$1,310,776 $1,245,636 24.4 %24.9 %
Equity securities (cost: $1,868,648 and $1,658,791 as of March 31, 2026 and December 31, 2025, respectively)
2,359,758 2,058,375 43.9 41.1 
Real estate securities (cost: $81,640 and $81,097 as of March 31, 2026 and December 31, 2025, respectively)
84,206 85,059 1.6 1.7 
Europe:  
Debt securities (cost: $281,012 and $220,047 as of March 31, 2026 and December 31, 2025, respectively)
286,233 218,618 5.3 4.4 
Equity securities (cost: $315,243 and $332,655 as of March 31, 2026 and December 31, 2025, respectively)
452,135 442,853 8.4 8.8 
Real estate securities (cost: $248,076 and $248,112 as of March 31, 2026 and December 31, 2025, respectively)
262,939 267,481 4.9 5.3 
Asia and other:
Debt securities (cost: $551,832 and $556,028 as of March 31, 2026 and December 31, 2025, respectively)
556,587 568,395 10.4 11.3 
Equity securities (cost: $47,458 and $111,335 as of March 31, 2026 and December 31, 2025, respectively)
58,059 126,560 1.1 2.5 
Total debt securities2,153,596 2,032,649 40.1 40.6 
Total equity securities2,869,952 2,627,788 53.4 52.4 
Total real estate347,145 352,540 6.5 7.0 
Total investments, at fair value$5,370,693 $5,012,977 100.0 %100.0 %

As of March 31, 2026 , the following issuers or investments had a fair value that exceeded 5% of the Company’s total consolidated net assets.

Principal Amount/ Number of SharesInvestmentsCombined Fair Value
213,719,317Hartree Partners LP$302,768

As of December 31, 2025, the following issuers or investments had a fair value that exceeded 5% of the Company’s total consolidated net assets.

Principal Amount/ Number of SharesInvestmentsCombined Fair Value
179,840Azorra Aviation Holdings LLC$266,177
Schedule of Net Gains (Losses) from Investment Activities
The following table summarizes net gains (losses) from investment activities:
Three months ended March 31,
 20262025
Net Realized Gain (Loss) on InvestmentsNet Change in Unrealized Appreciation (Depreciation) on InvestmentsNet Realized Gain (Loss) on InvestmentsNet Change in Unrealized Appreciation (Depreciation) on Investments
Investments and other financial instruments
$(25,906)$61,884 $68,510 $(101,214)
Foreign-currency forward contracts (1)
671 20,717 5,455 (25,471)
Total return and interest rate swaps (1)
453 (1,293)(627)716 
Options and futures (1)
787 169 1,239 (1,880)
Total$(23,995)$81,477 $74,577 $(127,849)
(1)    Please see note 7 for additional information.