We just covered the Billionaire Howard Marks’ 10 Stock Picks With Huge Upgrade Potential and AngloGold Ashanti plc (NYSE:AU) ranks eighth on this list.
AngloGold Ashanti plc (NYSE:AU) has been listed in Oaktree Capital Management’s 13F portfolio since the third quarter of 2023. At that time, this position comprised more than 5.4 million shares. The fund increased this stake by 8%, 2% and 6% in the coming quarters, increasing the stake to more than 6.3 million shares. From then on, he started dumping the stock. Q4 2025 filings show the fund held 3.8 million shares of the company, a drop of more than 8% compared to Q3 2025 filings. The company operates as a gold mining company in Africa, Australia and the Americas. It explores for gold, as well as by-products, including silver and sulfuric acid. The flagship property includes the wholly owned Geita Mine, located in the Lake Victoria goldfields in the Geita region of northwestern Tanzania.
Elite investors have been rewarding AngloGold Ashanti plc (NYSE:AU) for its rapid deleveraging. In its February 2026 and April 2026 financial updates, AngloGold revealed a massive change to its balance sheet. The company went from $567 million in net debt at the end of 2024 to a net cash position of $879 million at the beginning of 2026. Total liquidity now stands at $4.4 billion, including $2.9 billion in cash and equivalents. Institutional buildup soared following record performance in 2025 that set the stage for growth in 2026. AngloGold generated a record $6.3 billion in adjusted EBITDA in 2025, up 129% year-on-year.
While we recognize the potential of AU as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
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