We are live on ! Find out more
HM

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
+3.43%
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
$7.43B
AUM Growth
+$278M
Cap. Flow
-$1.5B
Cap. Flow %
-20.17%
Top 10 Hldgs %
48.8%
Holding
227
New
26
Increased
16
Reduced
18
Closed
11

Top Buys

Rank Stock Value
1
TRMD icon
TORM
TRMD
+$328M
2
CCI.PRA
Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A
CCI.PRA
+$34.6M
3
COOP
Mr. Cooper
COOP
+$33.4M
4
SMCI icon
Super Micro Computer
SMCI
+$33M
5
WB icon
Weibo
WB
+$32.7M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$657M
2
AABA
Altaba Inc
AABA
+$220M
3
VST icon
Vistra
VST
+$203M
4
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
+$77.4M
5
SMH icon
VanEck Semiconductor ETF
SMH
+$74.3M

Sector Composition

Rank Sector Weight
1 Utilities 12.71%
2 Financials 8.33%
3 Energy 8.14%
4 Industrials 6.58%
5 Technology 4.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CX icon
26
Cemex
CX
$16B
$33.9M 0.46%
4,808,700
+2,639,560
+122% +$18.5M
AU icon
27
AngloGold Ashanti
AU
$61.3B
$33.5M 0.45%
3,907,565
+234,265
+6% +$1.93M
AZUL
28
DELISTED
Azul
AZUL
$33.3M 0.45%
1,873,216
+118,442
+7% +$2.09M
FTV.PRA
29
DELISTED
Fortive Corporation 5.00% Mandatory Convertible Preferred Stock, Series A
FTV.PRA
$33M 0.44%
+30,577
New +$32.1M
AABA
30
DELISTED
Altaba Inc
AABA
$33M 0.44%
483,866
-3,116,122
-87% -$220M
EGC
31
DELISTED
Energy XXI Gulf Coast, Inc. Common Stock
EGC
$32.7M 0.44%
3,910,545
– –
VRS
32
DELISTED
Verso Corporation
VRS
$32.4M 0.44%
961,319
-1,404,595
-59% -$36.7M
MX icon
33
Magnachip Semiconductor
MX
$121M
$32.2M 0.43%
3,250,000
– –
COOP
34
DELISTED
Mr. Cooper
COOP
$32.2M 0.43%
+1,927,544
New +$33.4M
SMCI icon
35
Super Micro Computer
SMCI
$24.1B
$30.9M 0.42%
+15,000,000
New +$33M
WB icon
36
Weibo
WB
$1.73B
$29.7M 0.4%
+406,600
New +$32.7M
BRFS
37
DELISTED
BRF SA
BRFS
$28M 0.38%
5,117,302
+781,654
+18% +$4.35M
BBD icon
38
Banco Bradesco
BBD
$33.9B
$27.9M 0.38%
+6,287,510
New +$29M
HES.PRA
39
DELISTED
Hess Corporation
HES.PRA
$26.8M 0.36%
336,700
+103,900
+45% +$7.63M
NEE.PRR
40
DELISTED
NextEra Energy, Inc.
NEE.PRR
$26.7M 0.36%
468,855
+78,440
+20% +$4.55M
STON
41
DELISTED
StoneMor Inc.
STON
$23M 0.31%
4,477,857
– –
TCOM icon
42
Trip.com Group
TCOM
$29B
$22M 0.3%
593,153
+58,353
+11% +$2.37M
MTG icon
43
MGIC Investment
MTG
$6.34B
$21.8M 0.29%
1,640,000
– –
YUMC icon
44
Yum China
YUMC
$16.9B
$21.6M 0.29%
+614,500
New +$21.9M
NOG icon
45
Northern Oil and Gas
NOG
$2.91B
$17.6M 0.24%
438,967
-145,000
-25% -$4.9M
CIVI
46
DELISTED
Civitas Resources
CIVI
$17M 0.23%
571,208
+212,752
+59% +$7.09M
SRE.PRB
47
DELISTED
Sempra 6.75% Mandatory Convertible Preferred Stock, Series B
SRE.PRB
$16.9M 0.23%
+166,700
New +$17.1M
SJIU
48
DELISTED
South Jersey Industries, Inc.
SJIU
$16.8M 0.23%
+300,000
New +$16.5M
MPACU
49
DELISTED
Matlin & Partners Acquisition Corporation Units
MPACU
$16.1M 0.22%
1,500,000
– –
QTS.PRB
50
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$15.6M 0.21%
+148,000
New +$15.9M
1
2
3 4

Similar funds

SPC
Slate Path Capital New York $7.22B AUM 110.75% 1-Year Est. Return
SAM
Simplify Asset Management Las Vegas, Nevada $7.19B AUM 6.88% 1-Year Est. Return
CIMLRA
CBRE Investment Management Listed Real Assets Radnor, Pennsylvania $7.18B AUM 18.15% 1-Year Est. Return
GT
Glenview Trust Louisville, Kentucky $7.23B AUM 27.68% 1-Year Est. Return
GI
Gradient Investments Arden Hills, Minnesota $7.25B AUM 20.71% 1-Year Est. Return
BF
BOK Financial Tulsa, Oklahoma $7.25B AUM 33.76% 1-Year Est. Return
TB
Thoma Bravo Chicago, Illinois $7.28B AUM 35.55% 1-Year Est. Return
SAM
Scopus Asset Management New York $7.11B AUM 32.62% 1-Year Est. Return

Howard Marks's Q3 2018 Portfolio in Review

As of Q3 2018, Howard Marks held 227 positions worth $7.43B, up 3.9% from $7.15B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Howard Marks withdrew a net $1.5B in Q3 2018, closing 11 positions and reducing 18 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $657M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 13% of assets, down from 15% a quarter earlier, followed by Financials and Energy.

Against the trend, Howard Marks opened a new position in TORM worth $286M.

  • Howard Marks's largest Q3 2018 buy was TORM: 47,600,172 shares worth $286M.
  • Howard Marks added most to PG&E in Q3 2018, an estimated $31.8M increase.
  • Howard Marks's biggest Q3 2018 reduction was Altaba Inc, cutting an estimated $220M.
  • Howard Marks fully exited State Street SPDR S&P 500 ETF Trust in Q3 2018, selling an estimated $657M.
  • Howard Marks's ten largest holdings make up 49% of its $7.43B portfolio in Q3 2018.
  • Howard Marks opened 26 new positions and closed 11 in Q3 2018.
  • Howard Marks's portfolio value rose 3.9% quarter-over-quarter to $7.43B.

Based on Oaktree Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.