EQ Resources (EQR) saw Oaktree increase its stake by 20% to 3.17% of the portfolio, Core Scientific (CORZ) saw a 30% increase to 2.04%, and Talen Energy (TLN) saw a 14% increase to 2.08% as the asset manager builds positions in energy and computing infrastructure tied to supply constraints.
Oaktree is positioning for rising demand for electricity and compute capacity as AI expansion and global economic growth intensify energy requirements across data centers and power generation.
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Howard Marks, co-founder of Oaktree Capital Management, built his reputation by focusing on cycles, capital flows, and where the risk-reward has shifted in his favor. When Oaktree starts adding to positions, it usually reflects a broader view about where real-world demand is heading, not just short-term price action. Recent filings show the asset manager has been building positions in EQ Resources (NYSE:EQR), Core Scientific (NASDAQ:CORZ), and Talen Energy (NASDAQ:TLN). The common thread is demand for physical assets tied to energy and computing. Whether it’s powering AI data centers, supplying electricity, or owning scarce resources, Oaktree is positioning around parts of the economy where supply is tight, and capital is flowing. It’s a broader wager that real assets and power infrastructure are becoming more valuable as the global economy becomes more energy-intensive.
EQ Resources stands out as one of the most aggressive moves in the portfolio. The company operates in the natural resources space, giving it direct exposure to commodities tied to global supply constraints and real asset demand. Oaktree increased its position by roughly 20%, adding about 145 million shares and bringing the holding to approximately 3.17% of the portfolio. That’s a meaningful allocation paired with a large absolute add, which signals growing conviction rather than passive exposure.
The broader thesis ties back to scarcity. As capital has stayed tight across commodity markets,…
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