AbstractOver 90% of the buildup of additional heat in the Earth system over recent decades is contained in the ocean. Since 2006, new observational programs have revealed heterogeneous patterns of ocean heat content change. It is unclear how much of this heterogeneity is due to heat being added to and mixed within the ocean leading to material changes in water mass properties or is due to changes in circulation that redistribute existing water masses. Here we present a novel diagnosis of the “material” and “redistributed” contributions to regional heat content change between 2006 and 2017 that is based on a new “minimum transformation method” informed by both water mass transformation and optimal transportation theory. We show that material warming has large spatial coherence. The material change tends to be smaller than the redistributed change at any geographical location; however, it sums globally to the net warming of the ocean, whereas the redistributed component sums, by design, to zero. Material warming is robust over the time period of this analysis, whereas the redistributed signal only emerges from the variability in a few regions. In the North Atlantic Ocean, water mass changes indicate substantial material warming while redistribution cools the subpolar region as a result of a slowdown in the meridional overturning circulation. Warming in the Southern Ocean is explained by material warming and by anomalous southward heat transport of 118 ± 50 TW through redistribution. Our results suggest that near-term projections of ocean heat content change and therefore sea level change will hinge on understanding and predicting changes in ocean redistribution.