Oaktree Fund Advisors, LLC Quant / Systematic

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $54,037 (98.9% shares, 1.1% debt)

Holdings (17)

New Positions (1)

Value ($000) $1,087 Shares 60,972 Est. Cost $17.82 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
INFY	INFOSYS LTD	60,972	$1,087	2.0%	$17.82	—	COMMON STOCK	456788108

Increased Positions (5)

XP XP INC 5.7%

Value ($000) $3,062 (+39.4%) Shares 187,074 (+60.0%) Est. Cost $17.81 Unrealized -1.1%

NU NU HOLDINGS LTD/CAYMAN ISLANDS 7.5%

Value ($000) $4,065 (+7.0%) Shares 242,850 (+2.4%) Est. Cost $14.00 Unrealized +14.8%

ALVO ALVOTECH SA 0.7%

Value ($000) $397 (-36.2%) Shares 146,843 (+93.2%) Est. Cost $8.50 Unrealized -25.6%

— JETBLUE AIRWAYS CORP 0.7%

Value ($000) $388 (+73.0%) Shares 395,000 (+71.7%) Est. Cost $0.96 Unrealized —

ITUB ITAU UNIBANCO HOLDING SA 10.3%

Value ($000) $5,556 (+0.6%) Shares 775,939 (+3.1%) Est. Cost $6.11 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XP	XP INC	187,074 (+60.0%)	$3,062 (+39.4%)	5.7%	$17.81	-1.1%	COMMON STOCK	G98239109
NU	NU HOLDINGS LTD/CAYMAN ISLANDS	242,850 (+2.4%)	$4,065 (+7.0%)	7.5%	$14.00	+14.8%	COMMON STOCK	G6683N103
ALVO	ALVOTECH SA	146,843 (+93.2%)	$397 (-36.2%)	0.7%	$8.50	-25.6%	COMMON STOCK	L01800108
—	JETBLUE AIRWAYS CORP	395,000 (+71.7%)	$388 (+73.0%)	0.7%	$0.96	—	CONVERTIBLE BOND	477143AP6
ITUB	ITAU UNIBANCO HOLDING SA	775,939 (+3.1%)	$5,556 (+0.6%)	10.3%	$6.11	—	COMMON STOCK	465562106

Exited Positions (2)

SE SEA LTD 2.7%

Value ($000) $1,455 Shares 8,141 Est. Cost $167.01 Unrealized —

JBS JBS NV 2.4%

Value ($000) $1,318 Shares 88,298 Est. Cost $14.58 Unrealized -5.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SE	SEA LTD	8,141	$1,455	2.7%	$167.01	—	—	81141R100
JBS	JBS NV	88,298	$1,318	2.4%	$14.58	-5.8%	—	N4732M103

Decreased Positions (8)

B BARRICK MINING CORP 14.6%

Value ($000) $7,904 (+26.0%) Shares 181,494 (-5.2%) Est. Cost $19.29 Unrealized +94.0%

GRAB GRAB HOLDINGS LTD 6.1%

Value ($000) $3,292 (-21.4%) Shares 659,716 (-5.2%) Est. Cost $4.67 Unrealized +18.4%

FCX FREEPORT-MCMORAN INC 7.2%

Value ($000) $3,880 (+22.8%) Shares 76,395 (-5.2%) Est. Cost $36.62 Unrealized +18.3%

YMM FULL TRUCK ALLIANCE CO LTD 4.2%

Value ($000) $2,244 (-21.5%) Shares 209,099 (-5.2%) Est. Cost $12.40 Unrealized —

BZ KANZHUN LTD 3.4%

Value ($000) $1,811 (-17.2%) Shares 88,847 (-5.1%) Est. Cost $17.45 Unrealized —

TX TERNIUM SA 2.7%

Value ($000) $1,485 (-17.0%) Shares 38,886 (-24.5%) Est. Cost $38.20 Unrealized —

AU ANGLOGOLD ASHANTI PLC 25.6%

Value ($000) $13,856 (+1.0%) Shares 162,478 (-16.7%) Est. Cost $17.97 Unrealized +331.4%

HDB HDFC BANK LTD 8.7%

Value ($000) $4,709 (+1.4%) Shares 128,863 (-5.2%) Est. Cost $48.66 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
B	BARRICK MINING CORP	181,494 (-5.2%)	$7,904 (+26.0%)	14.6%	$19.29	+94.0%	COMMON STOCK	06849F108
GRAB	GRAB HOLDINGS LTD	659,716 (-5.2%)	$3,292 (-21.4%)	6.1%	$4.67	+18.4%	COMMON STOCK	G4124C109
FCX	FREEPORT-MCMORAN INC	76,395 (-5.2%)	$3,880 (+22.8%)	7.2%	$36.62	+18.3%	COMMON STOCK	35671D857
YMM	FULL TRUCK ALLIANCE CO LTD	209,099 (-5.2%)	$2,244 (-21.5%)	4.2%	$12.40	—	COMMON STOCK	35969L108
BZ	KANZHUN LTD	88,847 (-5.1%)	$1,811 (-17.2%)	3.4%	$17.45	—	COMMON STOCK	48553T106
TX	TERNIUM SA	38,886 (-24.5%)	$1,485 (-17.0%)	2.7%	$38.20	—	COMMON STOCK	880890108
AU	ANGLOGOLD ASHANTI PLC	162,478 (-16.7%)	$13,856 (+1.0%)	25.6%	$17.97	+331.4%	COMMON STOCK	G0378L100
HDB	HDFC BANK LTD	128,863 (-5.2%)	$4,709 (+1.4%)	8.7%	$48.66	—	COMMON STOCK	40415F101

Unchanged Positions (3)

BTAI BIOXCEL THERAPEUTICS INC 0.1%

Value ($000) $69 Shares 42,913 Est. Cost $1.66 Unrealized +24.6%

— CABLE ONE INC 0.3%

Value ($000) $173 Shares 175,000 Est. Cost $0.81 Unrealized —

— PEBBLEBROOK HOTEL TRUST 0.1%

Value ($000) $60 Shares 62,000 Est. Cost $0.93 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BTAI	BIOXCEL THERAPEUTICS INC	42,913	$69	0.1%	$1.66	+24.6%	COMMON STOCK	09075P204
—	CABLE ONE INC	175,000	$173	0.3%	$0.81	—	CONVERTIBLE BOND	12685JAE5
—	PEBBLEBROOK HOTEL TRUST	62,000	$60	0.1%	$0.93	—	CONVERTIBLE BOND	70509VAA8