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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
IXAQW
276
CALL
DELISTED
IX Acquisition Corp. Warrant
IXAQW
– –
-100,000
Closed -$40K
ADRT.U
277
DELISTED
Ault Disruptive Technologies Corporation Units, each consisting of one share of Common Stock, and three-fourths of one Redeemable Warrant to purchase one share of Common Stock
ADRT.U
– –
-500,000
Closed -$5.07M
IFIN.U
278
DELISTED
InFinT Acquisition Corporation Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
IFIN.U
– –
-250,000
Closed -$2.51M
FEXDU
279
DELISTED
Fintech Ecosystem Development Corp. Units
FEXDU
– –
-450,000
Closed -$4.59M
SPECW
280
CALL
DELISTED
Spectaire Holdings, Inc. Warrant
SPECW
– –
-75,000
Closed -$33K
OCAX
281
DELISTED
OCA Acquisition Corp. Class A Common Stock
OCAX
– –
-103,920
Closed -$1.03M
CNGLU
282
DELISTED
Canna-Global Acquisition Corp Unit
CNGLU
– –
-500,000
Closed -$5.07M
GMFIU
283
DELISTED
Aetherium Acquisition Corp Unit
GMFIU
– –
-700,000
Closed -$7M
LGVCU
284
DELISTED
LAMF Global Ventures Corp. I Unit
LGVCU
– –
-100,000
Closed -$1M
AVHIW
285
CALL
DELISTED
Achari Ventures Holdings Corp I Warrant
AVHIW
– –
-200,000
Closed -$66K
LIBYW
286
CALL
DELISTED
Liberty Resources Acquisition Corp. Warrant
LIBYW
– –
-325,000
Closed -$123K
ENCPU
287
DELISTED
Energem Corp Unit
ENCPU
– –
-400,000
Closed -$4.06M
SAGAU
288
DELISTED
Sagaliam Acquisition Corp. Units
SAGAU
– –
-700,000
Closed -$7.02M
ARIZR
289
DELISTED
Arisz Acquisition Corp. Right
ARIZR
– –
-200,000
Closed -$35K
ARIZW
290
CALL
DELISTED
Arisz Acquisition Corp. Warrant
ARIZW
– –
-200,000
Closed -$55K
SZZLU
291
DELISTED
Sizzle Acquisition Corp. Unit
SZZLU
– –
-25,000
Closed -$254K
LGSTU
292
DELISTED
Semper Paratus Acquisition Corporation Unit
LGSTU
– –
-125,000
Closed -$1.27M
DMAQR
293
DELISTED
Deep Medicine Acquisition Corp. Rights
DMAQR
– –
-425,000
Closed -$136K
IOACU
294
DELISTED
Innovative International Acquisition Corp. Unit
IOACU
– –
-100,000
Closed -$1.01M
ENERW
295
CALL
DELISTED
Accretion Acquisition Corp Warrant
ENERW
– –
-175,000
Closed -$69K
NETC.U
296
DELISTED
Nabors Energy Transition Corp. Units, each consisting of one share of Class A common stock and one-half of one warrant
NETC.U
– –
-200,000
Closed -$2.03M
BRD.U
297
DELISTED
Beard Energy Transition Acquisition Corp. Units, each consisting of one share of Class A Common Stock and one-half of one Warrant
BRD.U
– –
-300,000
Closed -$3.05M
SUAC.U
298
DELISTED
ShoulderUp Technology Acquisition Corp. Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant
SUAC.U
– –
-175,000
Closed -$1.77M
PACI.U
299
DELISTED
PROOF Acquisition Corp I Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant
PACI.U
– –
-75,000
Closed -$750K
ALORU
300
DELISTED
ALSP Orchid Acquisition Corp I Unit
ALORU
– –
-75,000
Closed -$757K
10 11
12
13 14

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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.