# EDGAR Filing Document

**Accession Number:** 0000949509
**File Stem:** 0000949509-26-000001
**Filing Date:** 2026-2
**Character Count:** 23753
**Document Hash:** 805ce27dc10e02b541971f3313ea9a0a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000949509-26-000001.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0000949509-26-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OAKTREE CAPITAL MANAGEMENT LP
- **CENTRAL INDEX KEY:** 0000949509

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05050
- **FILM NUMBER:** 26638741

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S GRAND AVENUE 28TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 2138306300

**MAIL ADDRESS:**
- **STREET 1:** 333 S GRAND AVE 28TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OAKTREE CAPITAL MANAGEMENT LLC
- **DATE OF NAME CHANGE:** 20010605

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** OAKTREE CAPITAL MANAGEMENT LP<br>**Address:** 333 S GRAND AVE 28TH FL<br>LOS ANGELES, CA 90071

**Form 13F File Number:** 028-05050

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Andy Hottovy<br>**Title:** Managing Director<br>**Phone:** 213-830-6315

**Signature, Place, and Date of Signing:**

Andy Hottovy  Los Angeles, CA  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[ ] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[x] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 2

**Form 13F Information Table Entry Total:** 172

**Form 13F Information Table Value Total:** $7027767837

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

|   No. | Name                           | Form 13F File Number   | CRD Number   | SEC File Number   |
|---:|:---|:---|:---|:---|
|     1 | Russell Investments Group Ltd. | 028-17598              |  |  |
|     2 | Hartree Partners LP            | 028-17875              |  |  |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AEROVIRONMENT INC | CONVERTIBLE BOND | 008073AA6 |  | 17142262 | 15763000 | PRN |  | DFND | 12 | 15763000 | 0 | 0 |
| AFFIRM HOLDINGS INC | CONVERTIBLE BOND | 00827BAD8 |  | 1028738 | 927000 | PRN |  | DFND | 12 | 927000 | 0 | 0 |
| AFFIRM HOLDINGS INC | CONVERTIBLE BOND | 00827BAB2 |  | 5042125 | 5225000 | PRN |  | DFND | 12 | 5225000 | 0 | 0 |
| AIRBNB INC | CONVERTIBLE BOND | 009066AB7 |  | 50227936 | 50633000 | PRN |  | DFND | 12 | 50633000 | 0 | 0 |
| ALARM.COM HOLDINGS INC | CONVERTIBLE BOND | 011642AB1 |  | 27265995 | 27198000 | PRN |  | DFND | 12 | 27198000 | 0 | 0 |
| ALVOTECH SA | COMMON STOCK | L01800108 |  | 2023114 | 533656 | SH |  | DFND | 12 | 533656 | 0 | 0 |
| ALVOTECH SA | WARRANT | L01800116 |  | 3032866 | 4666667 | SH |  | DFND | 12 | 4666667 | 0 | 0 |
| AMERICAN WATER CAPITAL CORP | CONVERTIBLE BOND | 03040WBE4 |  | 3415893 | 3426000 | PRN |  | DFND | 12 | 3426000 | 0 | 0 |
| AMPHASTAR PHARMACEUTICALS INC | CONVERTIBLE BOND | 03209RAB9 |  | 40401163 | 43578000 | PRN |  | DFND | 12 | 43578000 | 0 | 0 |
| ANGLOGOLD ASHANTI PLC | COMMON STOCK | G0378L100 |  | 328156672 | 3847991 | SH |  | DFND | 12 | 3847991 | 0 | 0 |
| ARRAY DIGITAL INFRASTRUCTURE INC | COMMON STOCK | 911684108 |  | 38844687 | 724444 | SH |  | DFND | 12 | 724444 | 0 | 0 |
| ARRAY TECHNOLOGIES INC | CONVERTIBLE BOND | 04271TAB6 |  | 30263093 | 33284000 | PRN |  | DFND | 12 | 33284000 | 0 | 0 |
| ASCENDIS PHARMA A/S | CONVERTIBLE BOND | 04351PAD3 |  | 994315 | 700000 | PRN |  | DFND | 12 | 700000 | 0 | 0 |
| BANDWIDTH INC | CONVERTIBLE BOND | 05988JAD5 |  | 11923275 | 13650000 | PRN |  | DFND | 12 | 13650000 | 0 | 0 |
| BARRICK MINING CORP | COMMON STOCK | 06849F108 |  | 129566388 | 2975118 | SH |  | DFND | 12 | 2975118 | 0 | 0 |
| BATTALION OIL CORP | COMMON STOCK | 07134L107 |  | 3401200 | 3009912 | SH |  | DFND | 12 | 3009912 | 0 | 0 |
| BAUSCH LOMB CORP | COMMON STOCK | 071705107 |  | 57777182 | 3382739 | SH |  | DFND | 12 | 3382739 | 0 | 0 |
| BAUSCH HEALTH COS INC | COMMON STOCK | 071734107 |  | 8826500 | 1270000 | SH |  | DFND | 12 | 1270000 | 0 | 0 |
| BENTLEY SYSTEMS INC | CONVERTIBLE BOND | 08265TAD1 |  | 6346390 | 6730000 | PRN |  | DFND | 12 | 6730000 | 0 | 0 |
| BILL HOLDINGS INC | CONVERTIBLE BOND | 090043AD2 |  | 3136567 | 3306000 | PRN |  | DFND | 12 | 3306000 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | CONVERTIBLE BOND | 09061GAK7 |  | 40450127 | 42118000 | PRN |  | DFND | 12 | 42118000 | 0 | 0 |
| BIOXCEL THERAPEUTICS INC | COMMON STOCK | 09075P204 |  | 385902 | 241188 | SH |  | DFND | 12 | 241188 | 0 | 0 |
| BLACKLINE INC | CONVERTIBLE BOND | 09239BAD1 |  | 1801018 | 1816000 | PRN |  | DFND | 12 | 1816000 | 0 | 0 |
| BLACKSTONE MORTGAGE TRUST INC | CONVERTIBLE BOND | 09257WAE0 |  | 11885009 | 11999000 | PRN |  | DFND | 12 | 11999000 | 0 | 0 |
| BLOCK INC | CONVERTIBLE BOND | 852234AK9 |  | 5509163 | 5935000 | PRN |  | DFND | 12 | 5935000 | 0 | 0 |
| BLOCK INC | CONVERTIBLE BOND | 852234AJ2 |  | 19940367 | 20243000 | PRN |  | DFND | 12 | 20243000 | 0 | 0 |
| BRIDGEBIO PHARMA INC | CONVERTIBLE BOND | 10806XAD4 |  | 2871937 | 2550000 | PRN |  | DFND | 12 | 2550000 | 0 | 0 |
| CABLE ONE INC | CONVERTIBLE BOND | 12685JAE5 |  | 58138075 | 58874000 | PRN |  | DFND | 12 | 58874000 | 0 | 0 |
| CALIFORNIA RESOURCES CORP | COMMON STOCK | 13057Q305 |  | 31051184 | 694502 | SH |  | DFND | 12 | 694502 | 0 | 0 |
| CBL  ASSOCIATES PROPERTIES INC | COMMON STOCK | 124830878 |  | 93150348 | 2517576 | SH |  | DFND | 12 | 2517576 | 0 | 0 |
| CELCUITY INC | CONVERTIBLE BOND | 15102KAA8 |  | 1520330 | 700000 | PRN |  | DFND | 12 | 700000 | 0 | 0 |
| CEMEX SAB DE CV | COMMON STOCK | 151290889 |  | 66059732 | 5749324 | SH |  | DFND | 12 | 5749324 | 0 | 0 |
| CERENCE INC | CONVERTIBLE BOND | 156727AD1 |  | 5964314 | 6605000 | PRN |  | DFND | 12 | 6605000 | 0 | 0 |
| CHEESECAKE FACTORY INC/THE | CONVERTIBLE BOND | 163072AA9 |  | 1941772 | 1960000 | PRN |  | DFND | 12 | 1960000 | 0 | 0 |
| CMS ENERGY CORP | CONVERTIBLE BOND | 125896BX7 |  | 16293328 | 15199000 | PRN |  | DFND | 12 | 15199000 | 0 | 0 |
| COGENT BIOSCIENCES INC | CONVERTIBLE BOND | 19240QAA0 |  | 8994870 | 7650000 | PRN |  | DFND | 12 | 7650000 | 0 | 0 |
| COINBASE GLOBAL INC | CONVERTIBLE BOND | 19260QAF4 |  | 10791142 | 10510000 | PRN |  | DFND | 12 | 10510000 | 0 | 0 |
| CONMED CORP | CONVERTIBLE BOND | 207410AH4 |  | 38711039 | 40324000 | PRN |  | DFND | 12 | 40324000 | 0 | 0 |
| CORE SCIENTIFIC INC | COMMON STOCK | 21874A106 |  | 121586308 | 8350708 | SH |  | DFND | 12 | 8350708 | 0 | 0 |
| CORE SCIENTIFIC INC | COMMON STOCK | 21874A106 |  | 29120000 | 2000000 | SH | Call | DFND | 12 | 2000000 | 0 | 0 |
| CRACKER BARREL OLD COUNTRY STORE INC | CONVERTIBLE BOND | 22410JAB2 |  | 32192377 | 33101000 | PRN |  | DFND | 12 | 33101000 | 0 | 0 |
| DATADOG INC | CONVERTIBLE BOND | 23804LAD5 |  | 7508373 | 7499000 | PRN |  | DFND | 12 | 7499000 | 0 | 0 |
| DAYFORCE INC | CONVERTIBLE BOND | 15677JAD0 |  | 19205867 | 19351000 | PRN |  | DFND | 12 | 19351000 | 0 | 0 |
| DEXCOM INC | CONVERTIBLE BOND | 252131AM9 |  | 25776396 | 27995000 | PRN |  | DFND | 12 | 27995000 | 0 | 0 |
| DIGITALOCEAN HOLDINGS INC | CONVERTIBLE BOND | 25402DAB8 |  | 1817302 | 1880000 | PRN |  | DFND | 12 | 1880000 | 0 | 0 |
| DRAFTKINGS INC | CONVERTIBLE BOND | 26142RAB0 |  | 23090965 | 25225000 | PRN |  | DFND | 12 | 25225000 | 0 | 0 |
| DROPBOX INC | CONVERTIBLE BOND | 26210CAC8 |  | 2159775 | 2175000 | PRN |  | DFND | 12 | 2175000 | 0 | 0 |
| ECHOSTAR CORP | CONVERTIBLE BOND | 278768AB2 |  | 60165000 | 18000000 | PRN |  | DFND | 12 | 18000000 | 0 | 0 |
| ECOVYST INC | COMMON STOCK | 27923Q109 |  | 41396314 | 4254503 | SH |  | DFND | 12 | 4254503 | 0 | 0 |
| ENPHASE ENERGY INC | CONVERTIBLE BOND | 29355AAH0 |  | 10801890 | 10911000 | PRN |  | DFND | 12 | 10911000 | 0 | 0 |
| ENPHASE ENERGY INC | CONVERTIBLE BOND | 29355AAK3 |  | 33358027 | 38178000 | PRN |  | DFND | 12 | 38178000 | 0 | 0 |
| ENVISTA HOLDINGS CORP | CONVERTIBLE BOND | 29415FAD6 |  | 29631525 | 30786000 | PRN |  | DFND | 12 | 30786000 | 0 | 0 |
| ETSY INC | CONVERTIBLE BOND | 29786AAN6 |  | 44935298 | 50165000 | PRN |  | DFND | 12 | 50165000 | 0 | 0 |
| EXPAND ENERGY CORP | WARRANT | 165167180 |  | 9496047 | 95294 | SH |  | DFND | 12 | 95294 | 0 | 0 |
| EXPAND ENERGY CORP | COMMON STOCK | 165167735 |  | 558682380 | 5062363 | SH |  | DFND | 12 | 5062363 | 0 | 0 |
| FASTLY INC | CONVERTIBLE BOND | 31188VAB6 |  | 850055 | 863000 | PRN |  | DFND | 12 | 863000 | 0 | 0 |
| FASTLY INC | CONVERTIBLE BOND | 31188VAD2 |  | 1497365 | 1353000 | PRN |  | DFND | 12 | 1353000 | 0 | 0 |
| FIVE9 INC | CONVERTIBLE BOND | 338307AF8 |  | 27393582 | 30353000 | PRN |  | DFND | 12 | 30353000 | 0 | 0 |
| FLUOR CORP | CONVERTIBLE BOND | 343412AJ1 |  | 10698870 | 9371000 | PRN |  | DFND | 12 | 9371000 | 0 | 0 |
| FORD MOTOR CO | CONVERTIBLE BOND | 345370CZ1 |  | 3018900 | 2900000 | PRN |  | DFND | 12 | 2900000 | 0 | 0 |
| FREEPORT-MCMORAN INC | COMMON STOCK | 35671D857 |  | 70600791 | 1390053 | SH |  | DFND | 12 | 1390053 | 0 | 0 |
| FRESHPET INC | CONVERTIBLE BOND | 358039AB1 |  | 8551950 | 7300000 | PRN |  | DFND | 12 | 7300000 | 0 | 0 |
| FTAI AVIATION LTD | COMMON STOCK | G3730V105 |  | 101836016 | 517328 | SH |  | DFND | 12 | 517328 | 0 | 0 |
| FULL TRUCK ALLIANCE CO LTD | COMMON STOCK | 35969L108 |  | 37767067 | 3519764 | SH |  | DFND | 12 | 3519764 | 0 | 0 |
| GARRETT MOTION INC | COMMON STOCK | 366505105 |  | 297962642 | 17094816 | SH |  | DFND | 12 | 17094816 | 0 | 0 |
| GLADSTONE CAPITAL CORP | CONVERTIBLE BOND | 376535AG5 |  | 738919 | 754000 | PRN |  | DFND | 12 | 754000 | 0 | 0 |
| GRAB HOLDINGS LTD | COMMON STOCK | G4124C109 |  | 55926418 | 11207699 | SH |  | DFND | 12 | 11207699 | 0 | 0 |
| GREEN PLAINS INC | CONVERTIBLE BOND | 393222AK0 |  | 7389112 | 7677000 | PRN |  | DFND | 12 | 7677000 | 0 | 0 |
| GROUPON INC | CONVERTIBLE BOND | 399473AF4 |  | 1862767 | 1874000 | PRN |  | DFND | 12 | 1874000 | 0 | 0 |
| GRUPO AEROMEXICO SAB DE CV | COMMON STOCK | 40054J109 |  | 82942612 | 3776986 | SH |  | DFND | 12 | 3776986 | 0 | 0 |
| GUARDANT HEALTH INC | CONVERTIBLE BOND | 40131MAB5 |  | 599677 | 555000 | PRN |  | DFND | 12 | 555000 | 0 | 0 |
| HAEMONETICS CORP | CONVERTIBLE BOND | 405024AD2 |  | 938711 | 902000 | PRN |  | DFND | 12 | 902000 | 0 | 0 |
| HAEMONETICS CORP | CONVERTIBLE BOND | 405024AB6 |  | 14917275 | 15030000 | PRN |  | DFND | 12 | 15030000 | 0 | 0 |
| HDFC BANK LTD | COMMON STOCK | 40415F101 |  | 4766314 | 130441 | SH |  | DFND | 12 | 130441 | 0 | 0 |
| HERBALIFE LTD | CONVERTIBLE BOND | 42703MAF0 |  | 1346949 | 1242000 | PRN |  | DFND | 12 | 1242000 | 0 | 0 |
| Indivior Pharmaceuticals Inc | COMMON STOCK | G4766E116 |  | 255058964 | 7108644 | SH |  | DFND | 12 | 7108644 | 0 | 0 |
| INFOSYS LTD | COMMON STOCK | 456788108 |  | 19508480 | 1094752 | SH |  | DFND | 12 | 1094752 | 0 | 0 |
| ITAU UNIBANCO HOLDING SA | COMMON STOCK | 465562106 |  | 98970875 | 13822747 | SH |  | DFND | 12 | 13822747 | 0 | 0 |
| ITRON INC | CONVERTIBLE BOND | 465741AQ9 |  | 8814187 | 8700000 | PRN |  | DFND | 12 | 8700000 | 0 | 0 |
| JAZZ PHARMACEUTICALS PLC | CONVERTIBLE BOND | 472145AH4 |  | 14135100 | 10600000 | PRN |  | DFND | 12 | 10600000 | 0 | 0 |
| JD.COM INC | CONVERTIBLE BOND | 47215PAJ5 |  | 19319548 | 19233000 | PRN |  | DFND | 12 | 19233000 | 0 | 0 |
| JETBLUE AIRWAYS CORP | CONVERTIBLE BOND | 477143AP6 |  | 89036255 | 90530000 | PRN |  | DFND | 12 | 90530000 | 0 | 0 |
| KANZHUN LTD | COMMON STOCK | 48553T106 |  | 31043447 | 1523231 | SH |  | DFND | 12 | 1523231 | 0 | 0 |
| KILROY REALTY CORP | COMMON STOCK | 49427F108 |  | 69134911 | 1850011 | SH |  | DFND | 12 | 1850011 | 0 | 0 |
| LANTHEUS HOLDINGS INC | CONVERTIBLE BOND | 516544AB9 |  | 13233581 | 11525000 | PRN |  | DFND | 12 | 11525000 | 0 | 0 |
| LCI INDUSTRIES | CONVERTIBLE BOND | 501812AB7 |  | 9797949 | 9927000 | PRN |  | DFND | 12 | 9927000 | 0 | 0 |
| LIBERTY GLOBAL LTD | COMMON STOCK | G61188101 |  | 95260267 | 8551191 | SH |  | DFND | 12 | 8551191 | 0 | 0 |
| LIBERTY LATIN AMERICA LTD | COMMON STOCK | G9001E102 |  | 6200357 | 839020 | SH |  | DFND | 12 | 839020 | 0 | 0 |
| LIBERTY LATIN AMERICA LTD | COMMON STOCK | G9001E128 |  | 42885898 | 5748780 | SH |  | DFND | 12 | 5748780 | 0 | 0 |
| LIVANOVA PLC | CONVERTIBLE BOND | 53802LAB8 |  | 17730600 | 15285000 | PRN |  | DFND | 12 | 15285000 | 0 | 0 |
| LIVE NATION ENTERTAINMENT INC | CONVERTIBLE BOND | 538034BC2 |  | 10182510 | 9670000 | PRN |  | DFND | 12 | 9670000 | 0 | 0 |
| LYFT INC | CONVERTIBLE BOND | 55087PAD6 |  | 1326435 | 1100000 | PRN |  | DFND | 12 | 1100000 | 0 | 0 |
| MAGNACHIP SEMICONDUCTOR CORP | COMMON STOCK | 55933J203 |  | 7267137 | 2849858 | SH |  | DFND | 12 | 2849858 | 0 | 0 |
| MAGNITE INC | CONVERTIBLE BOND | 55955DAB6 |  | 10221529 | 10305000 | PRN |  | DFND | 12 | 10305000 | 0 | 0 |
| MARRIOTT INTERNATIONAL INC/MD | COMMON STOCK | 571903202 |  | 46536000 | 150000 | SH | Put | DFND | 12 | 150000 | 0 | 0 |
| MARRIOTT VACATIONS WORLDWIDE CORP | CONVERTIBLE BOND | 57164YAF4 |  | 38452425 | 40370000 | PRN |  | DFND | 12 | 40370000 | 0 | 0 |
| MGP INGREDIENTS INC | CONVERTIBLE BOND | 55303JAB2 |  | 22528250 | 23225000 | PRN |  | DFND | 12 | 23225000 | 0 | 0 |
| MITEK SYSTEMS INC | CONVERTIBLE BOND | 606710AA9 |  | 5325634 | 5374000 | PRN |  | DFND | 12 | 5374000 | 0 | 0 |
| MKS INC | CONVERTIBLE BOND | 55306NAB0 |  | 7993890 | 6255000 | PRN |  | DFND | 12 | 6255000 | 0 | 0 |
| NABORS INDUSTRIES LTD | CONVERTIBLE BOND | 62957HAL9 |  | 19604126 | 24063000 | PRN |  | DFND | 12 | 24063000 | 0 | 0 |
| NEOGENOMICS INC | CONVERTIBLE BOND | 64049MAB6 |  | 6343837 | 7098000 | PRN |  | DFND | 12 | 7098000 | 0 | 0 |
| NEXTERA ENERGY INC | CONVERTIBLE BOND | 65339KCY4 |  | 1606602 | 1292000 | PRN |  | DFND | 12 | 1292000 | 0 | 0 |
| NOKIA OYJ | COMMON STOCK | 654902204 |  | 121326921 | 18752229 | SH |  | DFND | 12 | 18752229 | 0 | 0 |
| NU HOLDINGS LTD/CAYMAN ISLANDS | COMMON STOCK | G6683N103 |  | 74981389 | 4479175 | SH |  | DFND | 12 | 4479175 | 0 | 0 |
| NUTANIX INC | CONVERTIBLE BOND | 67059NAH1 |  | 2251000 | 2000000 | PRN |  | DFND | 12 | 2000000 | 0 | 0 |
| NUTANIX INC | CONVERTIBLE BOND | 67059NAK4 |  | 5256611 | 5436000 | PRN |  | DFND | 12 | 5436000 | 0 | 0 |
| OAKTREE SPECIALTY LENDING CORP | COMMON STOCK | 67401P405 |  | 23600289 | 1852456 | SH |  | DFND | 12 | 1852456 | 0 | 0 |
| OKTA INC | CONVERTIBLE BOND | 679295AF2 |  | 27773091 | 28311000 | PRN |  | DFND | 12 | 28311000 | 0 | 0 |
| ON SEMICONDUCTOR CORP | CONVERTIBLE BOND | 682189AS4 |  | 2326350 | 1950000 | PRN |  | DFND | 12 | 1950000 | 0 | 0 |
| ONITY GROUP INC | COMMON STOCK | 675746606 |  | 17896380 | 390835 | SH |  | DFND | 12 | 390835 | 0 | 0 |
| OPTIMUM COMMUNICATIONS INC | COMMON STOCK | 02156K103 |  | 12375000 | 7500000 | SH |  | DFND | 12 | 7500000 | 0 | 0 |
| ORACLE CORP | COMMON STOCK | 68389X105 |  | 97455000 | 500000 | SH | Put | DFND | 12 | 500000 | 0 | 0 |
| PARSONS CORP | CONVERTIBLE BOND | 70202LAD4 |  | 1195380 | 1160000 | PRN |  | DFND | 12 | 1160000 | 0 | 0 |
| PEBBLEBROOK HOTEL TRUST | CONVERTIBLE BOND | 70509VAA8 |  | 38415555 | 39706000 | PRN |  | DFND | 12 | 39706000 | 0 | 0 |
| PELOTON INTERACTIVE INC | CONVERTIBLE BOND | 70614WAB6 |  | 552711 | 559000 | PRN |  | DFND | 12 | 559000 | 0 | 0 |
| PENN ENTERTAINMENT INC | CONVERTIBLE BOND | 707569AU3 |  | 4911146 | 4952000 | PRN |  | DFND | 12 | 4952000 | 0 | 0 |
| PENNYMAC MORTGAGE INVESTMENT TRUST | CONVERTIBLE BOND | 70932AAF0 |  | 10951402 | 10935000 | PRN |  | DFND | 12 | 10935000 | 0 | 0 |
| POST HOLDINGS INC | CONVERTIBLE BOND | 737446AT1 |  | 2858025 | 2650000 | PRN |  | DFND | 12 | 2650000 | 0 | 0 |
| PPL CORP | CONVERTIBLE BOND | 69352PAS2 |  | 17219610 | 15672000 | PRN |  | DFND | 12 | 15672000 | 0 | 0 |
| REDFIN CORP | CONVERTIBLE BOND | 75737FAE8 |  | 11142381 | 11841000 | PRN |  | DFND | 12 | 11841000 | 0 | 0 |
| REDWOOD TRUST INC | CONVERTIBLE BOND | 758075AF2 |  | 7437360 | 7456000 | PRN |  | DFND | 12 | 7456000 | 0 | 0 |
| REPLIGEN CORP | CONVERTIBLE BOND | 759916AD1 |  | 10788425 | 9830000 | PRN |  | DFND | 12 | 9830000 | 0 | 0 |
| RICE ACQUISITION CORP 3 | WARRANT | G7553X114 |  | 319999 | 399999 | SH |  | DFND | 12 | 399999 | 0 | 0 |
| RICE ACQUISITION CORP 3 | COMMON STOCK | G7553X106 |  | 24660000 | 2400000 | SH |  | DFND | 12 | 2400000 | 0 | 0 |
| RINGCENTRAL INC | CONVERTIBLE BOND | 76680RAH0 |  | 974651 | 984000 | PRN |  | DFND | 12 | 984000 | 0 | 0 |
| RIOT PLATFORMS INC | CONVERTIBLE BOND | 767292AB1 |  | 92922150 | 81960000 | PRN |  | DFND | 12 | 81960000 | 0 | 0 |
| RUNWAY GROWTH FINANCE CORP | COMMON STOCK | 78163D100 |  | 62774936 | 7029667 | SH |  | DFND | 12 | 7029667 | 0 | 0 |
| SEA LTD | CONVERTIBLE BOND | 81141RAG5 |  | 37767060 | 38855000 | PRN |  | DFND | 12 | 38855000 | 0 | 0 |
| SHAKE SHACK INC | CONVERTIBLE BOND | 819047AB7 |  | 5387485 | 5686000 | PRN |  | DFND | 12 | 5686000 | 0 | 0 |
| SMARTRENT INC | COMMON STOCK | 83193G107 |  | 15160695 | 7505294 | SH |  | DFND | 12 | 7505294 | 0 | 0 |
| SNAP INC | CONVERTIBLE BOND | 83304AAB2 |  | 3652294 | 3767000 | PRN |  | DFND | 12 | 3767000 | 0 | 0 |
| SNAP INC | CONVERTIBLE BOND | 83304AAH9 |  | 12184491 | 13422000 | PRN |  | DFND | 12 | 13422000 | 0 | 0 |
| SNAP INC | CONVERTIBLE BOND | 83304AAF3 |  | 18254620 | 19576000 | PRN |  | DFND | 12 | 19576000 | 0 | 0 |
| SOUTHERN CO/THE | CONVERTIBLE BOND | 842587DZ7 |  | 4873711 | 4557000 | PRN |  | DFND | 12 | 4557000 | 0 | 0 |
| SPECTRUM BRANDS HOLDINGS INC | CONVERTIBLE BOND | 84762LAZ8 |  | 26073082 | 27496000 | PRN |  | DFND | 12 | 27496000 | 0 | 0 |
| SPOTIFY TECHNOLOGY SA | CONVERTIBLE BOND | 84921RAB6 |  | 1478750 | 1300000 | PRN |  | DFND | 12 | 1300000 | 0 | 0 |
| STAR BULK CARRIERS CORP | COMMON STOCK | Y8162K204 |  | 37726784 | 1962892 | SH |  | DFND | 12 | 1962892 | 0 | 0 |
| STATE STREET CORP | ETF | 78462F103 |  | 262539200 | 385000 | SH | Put | DFND | 12 | 385000 | 0 | 0 |
| STRATEGY INC | CONVERTIBLE BOND | 594972AL5 |  | 1342250 | 1300000 | PRN |  | DFND | 12 | 1300000 | 0 | 0 |
| STRATEGY INC | CONVERTIBLE BOND | 594972AS0 |  | 4746406 | 5763000 | PRN |  | DFND | 12 | 5763000 | 0 | 0 |
| SUMMIT HOTEL PROPERTIES INC | CONVERTIBLE BOND | 866082AA8 |  | 21495320 | 21560000 | PRN |  | DFND | 12 | 21560000 | 0 | 0 |
| SUNOPTA INC | COMMON STOCK | 8676EP108 |  | 78883383 | 20726126 | SH |  | DFND | 12 | 20726126 | 0 | 0 |
| SYNAPTICS INC | CONVERTIBLE BOND | 87157DAJ8 |  | 18250500 | 17250000 | PRN |  | DFND | 12 | 17250000 | 0 | 0 |
| TALEN ENERGY CORP | COMMON STOCK | 87422Q109 |  | 124115896 | 331117 | SH |  | DFND | 12 | 331117 | 0 | 0 |
| TALEN ENERGY CORP | COMMON STOCK | 87422Q109 |  | 112452000 | 300000 | SH | Call | DFND | 12 | 300000 | 0 | 0 |
| TELADOC HEALTH INC | CONVERTIBLE BOND | 87918AAF2 |  | 36747445 | 38479000 | PRN |  | DFND | 12 | 38479000 | 0 | 0 |
| TELECOM ARGENTINA SA | COMMON STOCK | 879273209 |  | 27254567 | 2347508 | SH |  | DFND | 12 | 2347508 | 0 | 0 |
| TELEPHONE AND DATA SYSTEMS INC | COMMON STOCK | 879433829 |  | 151223826 | 3688386 | SH |  | DFND | 12 | 3688386 | 0 | 0 |
| TERNIUM SA | COMMON STOCK | 880890108 |  | 25150597 | 658565 | SH |  | DFND | 12 | 658565 | 0 | 0 |
| TETRA TECH INC | CONVERTIBLE BOND | 88162GAB9 |  | 16626023 | 15289000 | PRN |  | DFND | 12 | 15289000 | 0 | 0 |
| TOPGOLF CALLAWAY BRANDS CORP | CONVERTIBLE BOND | 131193AE4 |  | 9584484 | 9596000 | PRN |  | DFND | 12 | 9596000 | 0 | 0 |
| TORM PLC | COMMON STOCK | G89479102 |  | 527287877 | 26425059 | SH |  | DFND | 12 | 26425059 | 0 | 0 |
| TRANSALTA CORP | COMMON STOCK | 89346D107 |  | 81246611 | 6415253 | SH |  | DFND | 12 | 6415253 | 0 | 0 |
| TRIP.COM GROUP LTD | CONVERTIBLE BOND | 89677QAB3 |  | 1467820 | 1189000 | PRN |  | DFND | 12 | 1189000 | 0 | 0 |
| TWO HARBORS INVESTMENT CORP | CONVERTIBLE BOND | 90187BAB7 |  | 3289755 | 3298000 | PRN |  | DFND | 12 | 3298000 | 0 | 0 |
| TYLER TECHNOLOGIES INC | CONVERTIBLE BOND | 902252AB1 |  | 1013500 | 1000000 | PRN |  | DFND | 12 | 1000000 | 0 | 0 |
| UNITY SOFTWARE INC | CONVERTIBLE BOND | 91332UAB7 |  | 8792374 | 9076000 | PRN |  | DFND | 12 | 9076000 | 0 | 0 |
| UPSTART HOLDINGS INC | CONVERTIBLE BOND | 91680MAB3 |  | 6965032 | 7199000 | PRN |  | DFND | 12 | 7199000 | 0 | 0 |
| UPWORK INC | CONVERTIBLE BOND | 91688FAB0 |  | 6884923 | 7038000 | PRN |  | DFND | 12 | 7038000 | 0 | 0 |
| VAIL RESORTS INC | CONVERTIBLE BOND | 91879QAN9 |  | 1819909 | 1819000 | PRN |  | DFND | 12 | 1819000 | 0 | 0 |
| VALE SA | COMMON STOCK | 91912E105 |  | 26368889 | 2023706 | SH |  | DFND | 12 | 2023706 | 0 | 0 |
| VANECK SEMICONDUCTOR ETF | ETF | 92189F676 |  | 311512450 | 865000 | SH | Put | DFND | 12 | 865000 | 0 | 0 |
| VERTEX INC | CONVERTIBLE BOND | 92538JAB2 |  | 6181162 | 6507000 | PRN |  | DFND | 12 | 6507000 | 0 | 0 |
| VIPER ENERGY INC | COMMON STOCK | 64361Q101 |  | 242791949 | 6285062 | SH |  | DFND | 12 | 6285062 | 0 | 0 |
| VISHAY INTERTECHNOLOGY INC | CONVERTIBLE BOND | 928298AR9 |  | 1487963 | 1651000 | PRN |  | DFND | 12 | 1651000 | 0 | 0 |
| VISTA ENERGY SAB DE CV | COMMON STOCK | 92837L109 |  | 38064285 | 782250 | SH |  | DFND | 12 | 782250 | 0 | 0 |
| WEC ENERGY GROUP INC | CONVERTIBLE BOND | 92939UAR7 |  | 13977733 | 11957000 | PRN |  | DFND | 12 | 11957000 | 0 | 0 |
| WINNEBAGO INDUSTRIES INC | CONVERTIBLE BOND | 974637AF7 |  | 19057349 | 20220000 | PRN |  | DFND | 12 | 20220000 | 0 | 0 |
| WISDOMTREE INC | CONVERTIBLE BOND | 97717PAH7 |  | 2228093 | 1850000 | PRN |  | DFND | 12 | 1850000 | 0 | 0 |
| XP INC | COMMON STOCK | G98239109 |  | 54351002 | 3320159 | SH |  | DFND | 12 | 3320159 | 0 | 0 |
| ZIFF DAVIS INC | CONVERTIBLE BOND | 48123VAH5 |  | 3428702 | 3496000 | PRN |  | DFND | 12 | 3496000 | 0 | 0 |
| ZIFF DAVIS INC | CONVERTIBLE BOND | 48123VAE2 |  | 9889180 | 10091000 | PRN |  | DFND | 12 | 10091000 | 0 | 0 |

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