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
-30.41%
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
$3.56B
AUM Growth
-$1.75B
Cap. Flow
-$306M
Cap. Flow %
-8.61%
Top 10 Hldgs %
55.11%
Holding
197
New
24
Increased
24
Reduced
10
Closed
16

Top Buys

Rank Stock Value
1
TMHC
Taylor Morrison
TMHC
+$104M
2
ALLY icon
Ally Financial
ALLY
+$88.7M
3
VST icon
Vistra
VST
+$61M
4
BABA icon
Alibaba
BABA
+$47.7M
5
CZR icon
Caesars Entertainment
CZR
+$46.8M

Top Sells

Rank Stock Value
1
BRFS
BRF SA
BRFS
+$26.6M
2
YPF icon
YPF Sociedad Anonima ADS
YPF
+$15.7M
3
YETI icon
Yeti Holdings
YETI
+$14.5M
4
IBN icon
ICICI Bank
IBN
+$13.8M
5
HUYA
Huya Inc
HUYA
+$13.5M

Sector Composition

Rank Sector Weight
1 Energy 17.09%
2 Utilities 13.59%
3 Financials 11.77%
4 Technology 11.53%
5 Industrials 8.46%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBD icon
26
Banco Bradesco
BBD
$33.9B
$24.9M 0.7%
8,164,025
+488,006
+6% +$2.51M
PBR icon
27
Petrobras
PBR
$123B
$20.5M 0.58%
+3,728,093
New +$44.5M
MTG icon
28
MGIC Investment
MTG
$6.34B
$19.2M 0.54%
3,020,000
+800,000
+36% +$9.67M
TEO icon
29
Telecom Argentina
TEO
$5.66B
$18.1M 0.51%
1,960,500
+130,000
+7% +$1.42M
SRLP
30
DELISTED
SPRAGUE RESOURCES LP
SRLP
$17.7M 0.5%
+1,350,000
New +$19.7M
CZR icon
31
Caesars Entertainment
CZR
$6.06B
$14.4M 0.4%
+1,000,000
New +$46.8M
WMB icon
32
Williams Companies
WMB
$86.2B
$14.2M 0.4%
+1,000,000
New +$19.4M
COOP
33
DELISTED
Mr. Cooper
COOP
$14.1M 0.4%
1,927,544
– –
BATL icon
34
Battalion Oil
BATL
$77.9M
$14.1M 0.4%
+3,009,912
New +$17.9M
STKL
35
DELISTED
SunOpta
STKL
$13.9M 0.39%
8,092,699
– –
AZUL
36
DELISTED
Azul
AZUL
$13.6M 0.38%
1,331,638
+238,000
+22% +$7.54M
MELI icon
37
Mercado Libre
MELI
$97.5B
$12.4M 0.35%
+25,400
New +$15.7M
MU icon
38
PUT
Micron Technology
MU
$1.09T
$12.4M 0.35%
295,000
-2,500,000
-89% -$130M
SQM icon
39
Sociedad Química y Minera de Chile
SQM
$23.4B
$10.7M 0.3%
+473,720
New +$12.8M
TV icon
40
Televisa
TV
$1.47B
$10.6M 0.3%
1,828,000
+1,027,000
+128% +$10M
PAM icon
41
Pampa Energía
PAM
$4.26B
$9.59M 0.27%
849,000
+95,000
+13% +$1.22M
TGS icon
42
Transportadora de Gas del Sur
TGS
$4.23B
$9.08M 0.26%
1,974,729
+100,000
+5% +$583K
GLIBA
43
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$8.54M 0.24%
150,000
– –
CIVI
44
DELISTED
Civitas Resources
CIVI
$8.34M 0.23%
741,726
-265,000
-26% -$4.46M
VVR icon
45
Invesco Senior Income Trust
VVR
$454M
$7.84M 0.22%
+2,433,800
New +$9.63M
TSQ icon
46
Townsquare Media
TSQ
$108M
$7.35M 0.21%
1,595,224
– –
XEC
47
DELISTED
CIMAREX ENERGY CO
XEC
$7M 0.2%
415,735
– –
VIST icon
48
Vista Energy
VIST
$7.7B
$6.27M 0.18%
3,133,000
+605,000
+24% +$3.65M
EFT
49
Eaton Vance Floating-Rate Income Trust
EFT
$285M
$5.84M 0.16%
+570,000
New +$7.29M
IHRT icon
50
iHeartMedia
IHRT
$432M
$5.23M 0.15%
715,247
– –
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 Q1 2020 Portfolio in Review

As of Q1 2020, Howard Marks held 197 positions worth $3.56B, down 33% from $5.31B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Howard Marks withdrew a net $306M in Q1 2020, closing 16 positions and reducing 10 holdings. Its most notable exit was YPF Sociedad Anonima ADS, an estimated $15.7M position sold in full.

By sector, the portfolio is most concentrated in Energy at 17% of assets, down from 17% a quarter earlier, followed by Utilities and Financials.

Against the trend, Howard Marks opened a new position in Taylor Morrison worth $53.1M.

  • Howard Marks's largest Q1 2020 buy was Taylor Morrison: 4,825,000 shares worth $53.1M.
  • Howard Marks added most to Ally Financial in Q1 2020, an estimated $88.7M increase.
  • Howard Marks's biggest Q1 2020 reduction was BRF SA, cutting an estimated $26.6M.
  • Howard Marks fully exited YPF Sociedad Anonima ADS in Q1 2020, selling an estimated $15.7M.
  • Howard Marks's ten largest holdings make up 55% of its $3.56B portfolio in Q1 2020.
  • Howard Marks opened 24 new positions and closed 16 in Q1 2020.
  • Howard Marks's portfolio value fell 33% quarter-over-quarter to $3.56B.

Based on Oaktree Capital Management's 13F filing for Q1 2020, filed 15 May 2020.