v3.26.1
INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Investments [Abstract]  
Schedule of Corporate Investments
Corporate investments consisted of the following:
As of
Corporate InvestmentsJune 30, 2026December 31, 2025
Equity-method investments:
Funds$1,378 $315,801 
Companies1,148,298 1,114,972 
Total corporate investments$1,149,676 $1,430,773 
Summarized financial information of Oaktree Capital I is set forth below.
Three months ended June 30,Six months ended June 30,
Statements of Operations2026202520262025
Revenues / investment income$69,399 $42,322 $142,118 $91,229 
Interest expense(15,309)(14,562)(29,673)(24,354)
Other expenses(11,217)(13,037)(31,080)(31,124)
Net realized and unrealized gain (loss) on investments17,338 5,882 (24,194)(2,523)
Net (loss) income $60,211 $20,605 $57,171 $33,228 
Summarized financial information of the Company’s remaining equity-method investments is set forth below.
Three months ended June 30,Six months ended June 30,
Statements of Operations2026202520262025
Revenues / investment income$11,376 $44,457 $53,662 $86,891 
Interest expense(3,589)(14,826)(17,597)(29,351)
Other expenses(8,073)(32,122)(42,224)(63,822)
Net realized and unrealized gain (loss) on investments1,338 5,076 6,698 15,205 
Net income $1,052 $2,585 $539 $8,923 
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
InvestmentsJune 30, 2026December 31, 2025June 30, 2026December 31, 2025
United States:
Debt securities (cost: $1,682,592 and $1,410,932 as of June 30, 2026 and December 31, 2025, respectively)
$1,462,209 $1,245,636 26.5 %24.9 %
Equity securities (cost: $1,900,527 and $1,658,791 as of June 30, 2026 and December 31, 2025, respectively)
2,418,778 2,058,375 44.0 41.1 
Real estate securities (cost: $83,411 and $81,097 as of June 30, 2026 and December 31, 2025, respectively)
79,741 85,059 1.4 1.7 
Europe:
Debt securities (cost: $288,571 and $220,047 as of June 30, 2026 and December 31, 2025, respectively)
304,165 218,618 5.5 4.4 
Equity securities (cost: $283,290 and $332,655 as of June 30, 2026 and December 31, 2025, respectively)
449,199 442,853 8.1 8.8 
Real estate securities (cost: $289,938 and $248,112 as of June 30, 2026 and December 31, 2025, respectively)
289,012 267,481 5.2 5.3 
Asia and other:
Debt securities (cost: $415,831 and $556,028 as of June 30, 2026 and December 31, 2025, respectively)
432,749 568,395 7.9 11.3 
Equity securities (cost: $74,199 and $111,335 as of June 30, 2026 and December 31, 2025, respectively)
79,877 126,560 1.4 2.5 
Total investments$5,515,730 $5,012,977 100.0 %100.0 %
Fair value of investments by type:
Debt securities$2,199,123 $2,032,649 39.9 %40.6 %
Equity securities2,947,854 2,627,788 53.5 52.4 
Real estate securities368,753 352,540 6.6 7.0 
Total investments, at fair value$5,515,730 $5,012,977 100.0 %100.0 %
As of June 30, 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$299,376

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 of Consolidated Funds
The following table summarizes net gains (losses) from investment activities:
Three months ended June 30,
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
$71,021 $38,592 $2,804 $23,246 
Foreign-currency forward contracts (1)
(1,185)(1,471)(1,103)(39,021)
Total return and interest rate swaps (1)
(88)(60)— (69)
Options and futures (1)
402 2,282 (1,141)3,349 
Commodity swaps (1)
(103)(506)— — 
Total$70,047 $38,837 $560 $(12,495)
Six months ended June 30,
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
$45,115 $100,476 $71,314 $(77,968)
Foreign-currency forward contracts (1)
(514)19,246 4,352 (64,492)
Total return and interest rate swaps (1)
365 (1,353)(627)647 
Options and futures (1)
1,189 2,451 98 1,469 
Commodity swaps (1)
(103)(506)— — 
Total$46,052 $120,314 $75,137 $(140,344)
        
(1)    Please see Note 7 for additional information.