SCHEDULE: Oaktree Sells 6M Garrett Motion Shares

Oaktree Capital Group entities reduced their beneficial ownership in Garrett Motion Inc. by selling 6 million shares in a block sale.

Summary

• Oaktree Capital Group entities, including Oaktree Value Opportunities Fund Holdings, L.P., OCM Opps GTM Holdings, LLC, Oaktree Phoenix Investment Fund, L.P., and Oaktree Opportunities Fund Xb Holdings (Delaware), L.P., collectively sold 6,000,000 shares of Garrett Motion Inc. common stock.
• The block sale occurred on October 27, 2025, to BofA Securities, Inc. at a price of $16.25 per share.
• Following this transaction, the Reporting Persons beneficially own an aggregate of 25,894,816 shares, representing approximately 13.31% of Garrett Motion's common stock outstanding.
• Prior to the sale, Oaktree's aggregate beneficial ownership was approximately 16.40% (31,894,816 shares).
• The percentage of class is calculated based on 194,482,518 shares of Common Stock outstanding as of October 17, 2025, as reported on the Issuer's Form 10-Q filed on September 30, 2025.

Sentiment

Score: 4

Explanation: The sentiment is moderately negative due to a significant institutional investor reducing its stake. While it could be portfolio rebalancing, it often signals a less optimistic outlook or a shift in investment strategy regarding the issuer.

Negatives

• Oaktree Capital Group entities reduced their beneficial ownership in Garrett Motion Inc. by 6,000,000 shares, potentially signaling a decrease in conviction or a portfolio rebalancing.
• The sale of a significant block of shares (approximately 3.09% of total outstanding shares) could exert downward pressure on the stock price or create uncertainty among investors.

Risks

• Reduced institutional ownership by a major investor like Oaktree Capital Group could be perceived negatively by the market, potentially impacting investor confidence.
• Large block sales can sometimes precede further divestments, creating uncertainty about future selling pressure.

Future Outlook

NA

Management Comments

• Henry Orren, Managing Director, signed on behalf of the Oaktree reporting persons, certifying the truth, completeness, and correctness of the statement.

Industry Context

This filing primarily concerns a change in beneficial ownership by a major institutional investor and does not provide specific insights into broader industry trends for Garrett Motion Inc., an automotive technology supplier. However, significant divestment by a large holder can sometimes reflect a re-evaluation of sector-specific opportunities or risks.

Stakeholder Impact

• Shareholders may react to the reduction in Oaktree Capital Group's stake, potentially leading to increased selling pressure or a re-evaluation of their own investment positions.
• Institutional investors might view this divestment as a signal to reassess their holdings or investment strategies concerning Garrett Motion Inc.

Key Dates

Recommendation

While a significant institutional investor like Oaktree reducing its stake can be a negative signal, this filing only details a single block sale. It does not indicate a complete exit or provide specific reasons for the sale beyond the transaction itself. Investors should hold and monitor future filings and company performance to understand if this is a one-off portfolio adjustment or part of a broader divestment strategy by Oaktree, and to assess any potential impact on Garrett Motion's fundamentals.

Keywords

Garrett Motion, Oaktree Capital, Schedule 13D, Beneficial Ownership, Block Sale, Institutional Investor, Share Sale, Automotive Supplier