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Howard Marks Oaktree Capital Management

AUM $7.21B
1-Year Est. Return 45.97%
 

Howard Marks is co-founder of Oaktree Capital Management, a leading firm in credit, distressed debt, and alternative credit strategies. He is equally well known for his widely read client memos on market cycles, risk, and investor psychology. Marks’s investing philosophy stresses second-level thinking, asymmetric risk/reward, and the importance of understanding where markets sit in the credit cycle.

This Fund
S&P 500
This Quarter Est. Return
+11.17%
1 Year Est. Return
+45.97%
3 Year Est. Return
+88.04%
5 Year Est. Return
+157.91%
10 Year Est. Return
+691.44%
AUM
$9.59B
AUM Growth
+$452M
Cap. Flow
-$822M
Cap. Flow %
-8.58%
Top 10 Hldgs %
51.8%
Holding
470
New
96
Increased
17
Reduced
17
Closed
107

Top Buys

Rank Stock Value
1
CBL
CBL Properties
CBL
+$69.5M
2
SQM icon
Sociedad Química y Minera de Chile
SQM
+$22.2M
3
AZUL
Azul
AZUL
+$14.6M
4
RWAY icon
Runway Growth Finance
RWAY
+$14.2M
5
SMRT icon
SmartRent
SMRT
+$11.3M

Top Sells

Rank Stock Value
1
EXE
Expand Energy Corp
EXE
+$73.4M
2
VAL icon
Valaris
VAL
+$44.6M
3
COOP
Mr. Cooper
COOP
+$25M
4
SMCI icon
Super Micro Computer
SMCI
+$17.9M
5
NVACU
NorthView Acquisition Corporation Unit
NVACU
+$7.54M

Sector Composition

Rank Sector Weight
1 Energy 21.9%
2 Industrials 15.89%
3 Financials 14.15%
4 Utilities 10.77%
5 Materials 5.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RDZN icon
226
Roadzen
RDZN
$132M
$499K 0.01%
+50,000
New +$496K
LFAC
227
DELISTED
LF Capital Acquisition Corp. II Class A Common Stock
LFAC
$499K 0.01%
+50,000
New +$497K
GVCI
228
DELISTED
Green Visor Financial Technology Acquisition Corp. I Class A Ordinary Shares
GVCI
$499K 0.01%
+50,000
New +$496K
LGVC
229
DELISTED
LAMF Global Ventures Corp. I Class A Ordinary Shares
LGVC
$496K 0.01%
+50,000
New +$494K
SGII
230
DELISTED
Seaport Global Acquisition II Corp. Class A Common Stock
SGII
$495K 0.01%
50,000
– –
AAGR
231
DELISTED
African Agriculture Holdings Inc
AAGR
$491K 0.01%
69,750
– –
SHQA
232
DELISTED
Shelter Acquisition Corporation I Class A Common Stock
SHQA
$490K 0.01%
50,000
– –
PSQH icon
233
PSQ Holdings
PSQH
$20.3M
$483K 0.01%
3,333
– –
SRNE
234
DELISTED
Sorrento Therapeutics, Inc.
SRNE
$349K ﹤0.01%
150,000
– –
USCT
235
DELISTED
Roth CH Acquisition Co. Class A Ordinary Shares
USCT
$250K ﹤0.01%
25,000
– –
SZZL
236
DELISTED
Sizzle Acquisition Corp. Common stock
SZZL
$249K ﹤0.01%
+25,000
New +$249K
GCTS
237
GCT Semiconductor Holding
GCTS
$188M
$248K ﹤0.01%
25,000
– –
ACAXR
238
DELISTED
Alset Capital Acquisition Corp Right
ACAXR
$128K ﹤0.01%
+735,000
New +$147K
SAGAR
239
DELISTED
Sagaliam Acquisition Corp. Rights
SAGAR
$123K ﹤0.01%
+700,000
New +$141K
NVACR
240
DELISTED
NorthView Acquisition Corporation Rights
NVACR
$109K ﹤0.01%
+750,000
New +$126K
ALSAR
241
DELISTED
Alpha Star Acquisition Corp Rights
ALSAR
$80K ﹤0.01%
+400,000
New +$92.6K
BWAQR
242
DELISTED
Blue World Acquisition Corporation Right
BWAQR
$78K ﹤0.01%
+550,000
New +$81.5K
DHAIW
243
CALL
DELISTED
DIH Holding US Inc Warrants
DHAIW
$76K ﹤0.01%
+950,000
New +$75.3K
ACAXW
244
CALL
DELISTED
Alset Capital Acquisition Corp Warrant
ACAXW
$66K ﹤0.01%
+367,500
New +$58.1K
ALSAW
245
CALL
DELISTED
Alpha Star Acquisition Corp Warrants
ALSAW
$28K ﹤0.01%
+400,000
New +$39.4K
ASCAR
246
DELISTED
A SPAC I Acquisition Corp. Right
ASCAR
$24K ﹤0.01%
+145,000
New +$29.4K
KYCHR
247
DELISTED
Keyarch Acquisition Corporation Rights
KYCHR
$20K ﹤0.01%
+145,000
New +$26.1K
ASCAW
248
CALL
DELISTED
A SPAC I Acquisition Corp. Warrant
ASCAW
$13K ﹤0.01%
+108,750
New +$16.2K
LIVBW
249
CALL
DELISTED
LIV Capital Acquisition Corp. II Warrants
LIVBW
$8K ﹤0.01%
+45,000
New +$8.08K
IWM icon
250
PUT
iShares Russell 2000 ETF
IWM
$81.9B
– –
-500,000
Closed -$111M
8 9
10
11 12

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Howard Marks's Q1 2022 Portfolio in Review

As of Q1 2022, Howard Marks held 470 positions worth $9.59B, up 4.9% from $9.14B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Howard Marks withdrew a net $822M in Q1 2022, closing 107 positions and reducing 17 holdings. Its most notable exit was NorthView Acquisition Corporation Unit, an estimated $7.54M position sold in full.

By sector, the portfolio is most concentrated in Energy at 22% of assets, up from 19% a quarter earlier, followed by Industrials and Financials.

Against the trend, Howard Marks opened a new position in Sociedad Química y Minera de Chile worth $29.7M.

  • Howard Marks's largest Q1 2022 buy was Sociedad Química y Minera de Chile: 346,485 shares worth $29.7M.
  • Howard Marks added most to CBL Properties in Q1 2022, an estimated $69.5M increase.
  • Howard Marks's biggest Q1 2022 reduction was Expand Energy Corp, cutting an estimated $73.4M.
  • Howard Marks fully exited NorthView Acquisition Corporation Unit in Q1 2022, selling an estimated $7.54M.
  • Howard Marks's ten largest holdings make up 52% of its $9.59B portfolio in Q1 2022.
  • Howard Marks opened 96 new positions and closed 107 in Q1 2022.
  • Howard Marks's portfolio value rose 4.9% quarter-over-quarter to $9.59B.

Based on Oaktree Capital Management's 13F filing for Q1 2022, filed 16 May 2022.