Brookfield Oaktree Holdings, LLC Files 2023 Annual Report

TL;DR

<b>Brookfield Oaktree Holdings, LLC has submitted its 2023 10-K annual report detailing financial performance and operational data.</b>

AI Summary

Brookfield Oaktree Holdings, LLC (OAK-PB) filed a Annual Report (10-K) with the SEC on March 21, 2024. Brookfield Oaktree Holdings, LLC filed its 10-K annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business is Investment Advice. The filing includes data for Consolidated Entity Excluding Variable Interest Entities (VIE) Members for 2023 and 2022. Key financial data points such as Preferred Class A and B, and Common Class A and B shares are reported for the fiscal year.

Why It Matters

For investors and stakeholders tracking Brookfield Oaktree Holdings, LLC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Brookfield Oaktree Holdings' financial health and operational activities for the 2023 fiscal year, crucial for investors assessing the company's performance. The detailed segment and entity data within the report allows stakeholders to understand the company's structure and the performance of its various business units and consolidated entities.

Risk Assessment

Risk Level: low — Brookfield Oaktree Holdings, LLC shows low risk based on this filing. The filing is a standard annual report (10-K) with no immediate red flags or significant negative disclosures, indicating a routine disclosure of financial information.

Analyst Insight

Review the detailed financial statements and segment data in the 10-K to understand the company's performance and identify any trends or significant changes from the prior year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-21 — Filing Date (Filed as of date)
• 6282 — SIC Code (Standard Industrial Classification for Investment Advice)
• DE — State of Incorporation (State of incorporation)

Key Players & Entities

• Brookfield Oaktree Holdings, LLC (company) — Filer of the 10-K report
• Oaktree Capital Group, LLC (company) — Former company name
• Los Angeles (location) — Business and mailing address city

FAQ

Industry Context

Brookfield Oaktree Holdings, LLC operates in the investment advice sector, providing asset management and investment services.

Regulatory Implications

As a publicly reporting entity, Brookfield Oaktree Holdings, LLC is subject to the regulations of the U.S. Securities and Exchange Commission (SEC), including the requirement to file annual reports like the 10-K.

What Investors Should Do

1. Analyze the detailed financial statements and notes within the 10-K for any significant changes or trends.
2. Review the company's business description and risk factors to understand its operational landscape and potential challenges.
3. Compare key financial metrics from this 10-K with previous filings to assess year-over-year performance.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-21: Filing Date — Date the 10-K report was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and operational overview for Brookfield Oaktree Holdings, LLC.)

Variable Interest Entity (VIE)

A type of legal entity that is not a variable interest entity if, upon its inception, the equity investment at risk is sufficient to permit an individual, acting at risk as a principal, to absorb a maximum loss of at least 10 percent of the entity's total assets and liabilities. (The filing includes data related to VIEs, indicating their significance to the consolidated financial statements.)

Year-Over-Year Comparison

This is the initial 10-K filing for Brookfield Oaktree Holdings, LLC as a consolidated entity, providing a baseline for future comparisons.

Filing Documents

• oak-20231231.htm (10-K) — 3485KB
• a31.htm (EX-3.1) — 7KB
• brookfieldoaktreeholdingsl.htm (EX-3.2) — 913KB
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• exh4161-oaktreexamendmentt.htm (EX-4.16(1)) — 173KB
• exh4181-oaktreexamendmentt.htm (EX-4.18(1)) — 129KB
• exhibit1012023_101.htm (EX-10.1) — 673KB
• exh101-amendmenttothirdart.htm (EX-10.3(1)) — 37KB
• exh104-fourthamendedandres.htm (EX-10.4) — 437KB
• exhibit1077tharlpa6-30x21x.htm (EX-10.7) — 435KB
• a108workiva.htm (EX-10.8) — 148KB
• exhibit10104thamendedandre.htm (EX-10.10) — 138KB
• a1042023_1015.htm (EX-10.15) — 22KB
• a1052023_1016.htm (EX-10.16) — 27KB
• a1017clarity-letteragreeme.htm (EX-10.17) — 35KB
• a1026workiva.htm (EX-10.26) — 113KB
• exhibit2112022listofsubsid.htm (EX-21.1) — 266KB
• exhibit311202310kceo.htm (EX-31.1) — 8KB
• exhibit312202310kcfo.htm (EX-31.2) — 11KB
• a321conformed.htm (EX-32.1) — 5KB
• a322conformed.htm (EX-32.2) — 5KB
• a97-ocgincentivecompensati.htm (EX-97) — 29KB
• certificatea.gif (GRAPHIC) — 185KB
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• oak-20231231_g1.gif (GRAPHIC) — 21KB
• signaturea.gif (GRAPHIC) — 79KB
• 0001403528-24-000019.txt (&nbsp;) — 20669KB
• oak-20231231.xsd (EX-101.SCH) — 84KB
• oak-20231231_cal.xml (EX-101.CAL) — 102KB
• oak-20231231_def.xml (EX-101.DEF) — 563KB
• oak-20231231_lab.xml (EX-101.LAB) — 843KB
• oak-20231231_pre.xml (EX-101.PRE) — 719KB
• oak-20231231_htm.xml (XML) — 3092KB

Business

Business 8 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 45 Item 1C. Cybersecurity 45 Item 2.

Properties

Properties 46 Item 3.

Legal Proceedings

Legal Proceedings 46 Item 4. Mine Safety Disclosures 46 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 47 Item 6. [Reserved] 47 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 48 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 68 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 70 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 121 Item 9A.

Controls and Procedures

Controls and Procedures 121 Item 9B. Other Information 121 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 121 PART III. Item 10. Directors, Executive Officers and Corporate Governance 122 Item 11.

Executive Compensation

Executive Compensation 128 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 136 Item 13. Certain Relationships and Related Transactions, and Director Independence 138 Item 14. Principal Accounting Fees and Services 142 PART IV. Item 15. Exhibits, Financial Statement Schedules 143 Item 16. Form 10-K Summary 144

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS In March 2024, we changed our name from Oaktree Capital Group, LLC to Brookfield Oaktree Holdings, LLC ("BOH"). We will not distinguish between our prior and current name and will refer to our current name throughout this annual report. This annual report contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the " Securities Act " ), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the " Exchange Act " ), which reflect our current views with respect to, among other things, our future results of operations and financial performance. In some cases, you can identify forward-looking statements by words such as " anticipate, " " approximately, " " believe, " " continue, " " could, " " estimate, " " expect, " " intend, " " may, " " outlook, " " plan, " " potential, " " predict, " " seek, " " should, " " will " and " would " or the negative version of these words or other comparable or similar words. These statements identify prospective information. Important factors could cause actual results to differ, possibly materially, from those indicated in these statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. Such forward-looking statements are subject to risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. In addition to factors identified elsewhere in this annual report, the following factors, among others, could cause actual results to differ materially from forward-looking statements and information or historical performance: the ability of BOH to retain and hire key service providers; the continued availability of capital and financing; the business, economic and political conditions in the markets in which BOH operates;

Business

Item 1. Business Overview Oaktree is a leading global alternative investment management firm with expertise in investing in credit, real assets, private equity, and listed equities. Oaktree's mission is to deliver superior investment results with risk under control and to conduct its business with the highest integrity. Oaktree emphasizes an opportunistic, value-oriented and risk-controlled approach to its investments. Over the last three decades, Oaktree has developed a large and growing client base through its ability to identify and capitalize on opportunities for attractive investment returns in less efficient markets. Oaktree was formed in 1995 by a group of individuals who had been investing together since the mid-1980s. Oaktree's founders were pioneers in the management of high yield bonds, convertible securities and distressed debt. From those roots Oaktree has developed a diversified mix of specialized credit- and equity-oriented strategies. Oaktree operates according to a unifying investment philosophy, which consists of six tenets-risk control, consistency, market inefficiency, specialization, bottom-up analysis and disavowal of market timing-and is complemented by a set of core business principles that articulate our commitment to excellence in investing, commonality of interests with clients, a collaborative and cooperative culture, a disciplined, opportunistic approach to the expansion of products, and responsible actions with our stakeholders and society at large. The Company's current ownership and operational structure were the result of certain mergers with affiliates of Brookfield Corporation (formerly known as Brookfield Asset Management, Inc.) ("Brookfield") completed on September 30, 2019 (the "Mergers") and subsequent restructurings completed on October 1, 2019 in connection with the Mergers (the "2019 Restructuring") and on November 30, 2022 in connection with an internal Oaktree reorganization to facilitate the separation of Brookfield's

View Full Filing

View this 10-K filing on SEC EDGAR