Oaktree-Affiliated Funds Report 31.9M GTX Shares; Issuer Buyback Disclosed

Rhea-AI Filing Summary

Oaktree-affiliated funds report beneficial ownership of 31,894,816 shares of Garrett Motion Inc., representing approximately 16.22% of the company's common stock based on 201,575,459 shares outstanding adjusted for a repurchase. The ownership is held across four direct holders: Oaktree Value Opportunities Fund Holdings, L.P. (6,611,142 shares), OCM Opps GTM Holdings, LLC (22,275,545 shares), Oaktree Phoenix Investment Fund, L.P. (936,872 shares) and Oaktree Opportunities Fund Xb Holdings (2,071,257 shares). The reporting persons indicate shared voting and dispositive power over these shares through Oaktree Capital Holdings, LLC and Oaktree Capital Group Holdings GP, LLC.

The filing discloses that the direct holders sold an aggregate of 5,000,000 shares to the issuer at $12.42 per share; otherwise, no transactions in the prior 60 days are reported. Exhibits listed include a joint filing agreement and a signature page.

Positive

• Oaktree-affiliated holders collectively own 31,894,816 shares, representing approximately 16.22% of Garrett Motion's common stock on an adjusted basis
• Breakdown of direct holdings disclosed: 6,611,142; 22,275,545; 936,872; and 2,071,257 shares, enabling clear ownership visibility
• Issuer repurchased 5,000,000 shares from the reporting persons at $12.42 per share, a material transaction disclosed in the filing

Negative

• None.

Insights

Financial Analyst

TL;DR: Oaktree-affiliated entities hold a material 16.22% stake after a 5.0M-share repurchase, signaling concentrated institutional ownership.

The Schedule 13D/A provides a clear ownership breakdown totaling 31,894,816 shares (16.22%) of Garrett Motion's common stock on an adjusted share count basis. The largest direct holder is OCM Opps GTM Holdings with 22,275,545 shares. The disclosed repurchase of 5,000,000 shares at $12.42 per share is a definite, material transaction affecting the reported percentage ownership. For investors, concentrated ownership by a well-known alternative asset manager is material information for governance and potential future engagement, but the filing contains no statements of plans or proposals by the reporting persons.

Corporate Governance Expert

TL;DR: The filing documents significant shared control by Oaktree entities but contains no stated proposals or control actions.

The Schedule 13D/A attributes shared voting and dispositive power across the reporting group, with indirect ownership through management entities. This structure means the group could act collectively, which is material to board and governance considerations. The filing, however, does not disclose any intention to seek board seats, call special meetings, or propose corporate actions; it is primarily an ownership update and notice of the issuer repurchase from the reporting persons.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 8)

Garrett Motion Inc.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

366505105

(CUSIP Number)

Richard Ting
Oaktree Capital Group Holdings GP, LLC, 333 South Grand Avenue, 28th Floor
Los Angeles, CA, 90071
(213) 830-6300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/20/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 366505105

1

Name of reporting person

Oaktree Value Opportunities Fund Holdings, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,611,142.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,611,142.00

11

Aggregate amount beneficially owned by each reporting person

6,611,142.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.36 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

The percent of class is calculated based upon 201,575,459 shares of Common Stock outstanding as of July 18, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on July 24, 2025, as decreased by the 5,000,000 shares of Common Stock repurchased by the Issuer from the Reporting Persons, as reported herein.

SCHEDULE 13D

CUSIP No. 366505105

1

Name of reporting person

OCM Opps GTM Holdings, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 22,275,545.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 22,275,545.00

11

Aggregate amount beneficially owned by each reporting person

22,275,545.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

11.33 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

The percent of class is calculated based upon 201,575,459 shares of Common Stock outstanding as of July 18, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on July 24, 2025, as decreased by the 5,000,000 shares of Common Stock repurchased by the Issuer from the Reporting Persons, as reported herein.

SCHEDULE 13D

CUSIP No. 366505105

1

Name of reporting person

Oaktree Phoenix Investment Fund, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 936,872.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 936,872.00

11

Aggregate amount beneficially owned by each reporting person

936,872.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.48 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

The percent of class is calculated based upon 201,575,459 shares of Common Stock outstanding as of July 18, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on July 24, 2025, as decreased by the 5,000,000 shares of Common Stock repurchased by the Issuer from the Reporting Persons, as reported herein.

SCHEDULE 13D

CUSIP No. 366505105

1

Name of reporting person

Oaktree Opportunities Fund Xb Holdings (Delaware), L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,071,257.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,071,257.00

11

Aggregate amount beneficially owned by each reporting person

2,071,257.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.05 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

The percent of class is calculated based upon 201,575,459 shares of Common Stock outstanding as of July 18, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on July 24, 2025, as decreased by the 5,000,000 shares of Common Stock repurchased by the Issuer from the Reporting Persons, as reported herein.

SCHEDULE 13D

CUSIP No. 366505105

1

Name of reporting person

Oaktree Capital Holdings, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 31,894,816.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 31,894,816.00

11

Aggregate amount beneficially owned by each reporting person

31,894,816.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

16.22 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percent of class is calculated based upon 201,575,459 shares of Common Stock outstanding as of July 18, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on July 24, 2025, as decreased by the 5,000,000 shares of Common Stock repurchased by the Issuer from the Reporting Persons, as reported herein.

SCHEDULE 13D

CUSIP No. 366505105

1

Name of reporting person

Oaktree Capital Group Holdings GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 31,894,816.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 31,894,816.00

11

Aggregate amount beneficially owned by each reporting person

31,894,816.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

16.22 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percent of class is calculated based upon 201,575,459 shares of Common Stock outstanding as of July 18, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on July 24, 2025, as decreased by the 5,000,000 shares of Common Stock repurchased by the Issuer from the Reporting Persons, as reported herein.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.001 par value per share
(b)	Name of Issuer: Garrett Motion Inc.
(c)	Address of Issuer's Principal Executive Offices: La Piece 16, Rolle, SWITZERLAND , 1180.
Item 1 Comment: This Amendment No. 8 ("Amendment No. 8") amends the Schedule 13D filed on May 14, 2021 (the "Original Schedule 13D"), as amended by Amendment No. 1 on April 17, 2023 (the "Amendment No. 1"), Amendment No. 2 on June 9, 2023 (the "Amendment No. 2"), Amendment No. 3 on June 14, 2023 (the "Amendment No. 3"), Amendment No. 4, on October 27, 2023 (the "Amendment No. 4"), Amendment No. 5 on April 29, 2024 (the "Amendment No. 5"), Amendment No. 6 on October 28, 2024 (the "Amendment No. 6"), Amendment No. 7 on May 30, 2025 (the "Amendment No. 7" and as further amended by this Amendment No. 8, the "Schedule 13D"). The class of equity securities to which this Schedule 13D relates is the common stock, par value $0.001 per share (the "Common Stock"). Unless specifically amended hereby, the disclosures set forth in the Original Schedule 13D, remain unchanged, provided that if any Item amended herein is incorporated by reference into any other Item in the Schedule 13D as previously amended, such incorporation by reference is also amended hereby. Capitalized terms used but not otherwise defined herein have the meanings given to them in the Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The information set forth in rows (11) and (13) of the cover pages of this Amendment No. 8 is incorporated by reference into this Item 5(a). In the aggregate, the Reporting Persons beneficially own, as of the date hereof, 31,894,816 shares of Common Stock, representing approximately 16.22% of the Common Stock outstanding as of the date hereof. All such ownership percentages of the securities reported herein are based upon 201,575,459 shares of Common Stock outstanding as of July 18, 2025, as reported on the Form 10-Q filed by the Issuer with the SEC on July 24, 2025, as decreased by the 5,000,000 shares of Common Stock repurchased by the Issuer from the Reporting Persons, as reported in Item 5(c) in this Amendment No. 8. In this regard the reported securities are beneficially owned as follows: Oaktree Value Opportunities Fund Holdings, L.P. directly holds 6,611,142 shares of Common Stock; OCM Opps GTM Holdings, LLC directly holds 22,275,545 shares of Common Stock; Oaktree Phoenix Investment Fund L.P. directly holds 936,872 shares of Common Stock; and Oaktree Opportunities Fund Xb Holdings (Delaware), L.P. directly holds 2,071,257 shares of Common Stock. Oaktree Capital Holdings, LLC, in its capacity as the indirect manager of the Direct Holders, may be deemed to beneficially own the 31,894,816 shares of Common Stock held directly by the Direct Holders; Oaktree Capital Group Holdings GP, LLC, in its capacity as the indirect owner Oaktree Capital Holdings, LLC, may be deemed to beneficially own the aggregate 31,894,816 shares of Common Stock held directly by the Direct Holders; With respect to the shares of Common Stock reported herein, each of the Reporting Persons may be deemed to have shared voting and dispositive power or the shared power to direct the vote and disposition of the shares of Common Stock which such Reporting Person may be deemed to beneficially own as set forth above. Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission by any of the Reporting Persons that it is the beneficial owner of any of the shares of Common Stock referred to herein for the purposes of Section 13(d) of the Act, or for any other purpose, and such beneficial ownership is expressly disclaimed by each Reporting Person, other than each Direct Holder with respect to securities reported as directly held by such Direct Holder.
(b)	The information set forth in row (7) through (10) of the cover pages of this Amendment No. 8 is incorporated by reference into this Item 5.
(c)	On August 20, 2025, the Direct Holders sold an aggregate of 5,000,000 shares of Common Stock to the Issuer for $12.42 per share. Except for such transaction, the Reporting Persons have not effected any transactions in the Common Stock within the prior 60 days.
(d)	Not Applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit A Joint Filing Agreement, dated as of April 29, 2024, incorporated by reference to Amendment No. 8. Exhibit B Signature Page, dated August 21, 2025.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Oaktree Value Opportunities Fund Holdings, L.P.

Signature:	/s/ Henry Orren
Name/Title:	Henry Orren / Managing Director, See Exhibit B
Date:	08/21/2025

OCM Opps GTM Holdings, LLC

Signature:	/s/ Henry Orren
Name/Title:	Henry Orren / Authorized Signatory, See Exhibit B
Date:	08/21/2025

Oaktree Phoenix Investment Fund, L.P.

Signature:	/s/ Henry Orren
Name/Title:	Henry Orren / Managing Director, See Exhibit B
Date:	08/21/2025

Oaktree Opportunities Fund Xb Holdings (Delaware), L.P.

Signature:	/s/ Henry Orren
Name/Title:	Henry Orren / Authorized Signatory, See Exhibit B
Date:	08/21/2025

Oaktree Capital Holdings, LLC

Signature:	/s/ Henry Orren
Name/Title:	Henry Orren / Managing Director
Date:	08/21/2025

Oaktree Capital Group Holdings GP, LLC

Signature:	/s/ Henry Orren
Name/Title:	Henry Orren / Managing Director
Date:	08/21/2025

FAQ

How many Garrett Motion (GTX) shares do Oaktree-affiliated entities report owning?

The reporting persons beneficially own 31,894,816 shares, representing about 16.22% of outstanding common stock on an adjusted basis.

What direct holders comprise the Oaktree ownership reported in the Schedule 13D/A?

The direct holders are Oaktree Value Opportunities Fund Holdings, L.P. (6,611,142), OCM Opps GTM Holdings, LLC (22,275,545), Oaktree Phoenix Investment Fund, L.P. (936,872), and Oaktree Opportunities Fund Xb Holdings (2,071,257).

Did the filing report any recent transactions in Garrett Motion stock by the reporting persons?

Yes. The direct holders sold an aggregate of 5,000,000 shares to the issuer at $12.42 per share; aside from that transaction, no other transactions in the prior 60 days were reported.

On what share count is the 16.22% ownership percentage based?

The percentage is based on 201,575,459 shares outstanding as of the issuer's reported figure, adjusted for the 5,000,000-share repurchase from the reporting persons.

Do the reporting persons state any plans or proposals regarding Garrett Motion in this amendment?

No. This amendment updates ownership and the repurchase transaction; it does not disclose any plans, proposals, or intentions by the reporting persons.