Howard Marks Oaktree Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
First Bancorp
FBP
|
+$316M |
| 2 |
XCO
Exco Resources
XCO
|
+$281M |
| 3 |
Charter Communications
CHTR
|
+$217M |
| 4 |
DYN
Dynegy, Inc.
DYN
|
+$184M |
| 5 |
Aptiv
APTV
|
+$141M |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 10.34% |
| 2 | Energy | 5.96% |
| 3 | Communication Services | 5.44% |
| 4 | Utilities | 4.29% |
| 5 | Consumer Discretionary | 3.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
POSCO
PKX
$17.3B
| $964K | 0.02% |
+14,809
| New | +$1.04M |
|
52
Turkcell
TKC
$4.75B
| $915K | 0.02% |
+63,696
| New | +$982K |
|
53
Sociedad Química y Minera de Chile
SQM
$23.4B
| $902K | 0.02% |
+22,928
| New | +$1.06M |
|
Similar funds
Howard Marks's Q2 2013 Portfolio in Review
Q2 2013 is the first quarter with a 13F filing on record for Howard Marks, which disclosed 170 positions worth $4.92B. Its ten largest holdings account for 37% of the portfolio.
Its largest position is First Bancorp: 50,684,485 shares worth $359M.
By sector, the portfolio is most concentrated in Financials at 10% of assets, followed by Energy and Communication Services.
- Howard Marks's largest Q2 2013 buy was First Bancorp: 50,684,485 shares worth $359M.
- Howard Marks's ten largest holdings make up 37% of its $4.92B portfolio in Q2 2013.
- Howard Marks disclosed 170 positions in Q2 2013, its first 13F filing on record.
Based on Oaktree Capital Management's 13F filing for Q2 2013, filed 5 Aug 2013.