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
BATRK icon
51
Atlanta Braves Holdings Series B
BATRK
$3.33B
$15.5M 0.21%
570,102
– –
SRE.PRA
52
DELISTED
Sempra Energy 6% Mandatory Convertible Preferred Stock, Series A
SRE.PRA
$15.4M 0.21%
152,340
-72,660
-32% -$7.45M
NXPI icon
53
NXP Semiconductors
NXPI
$56.9B
$14.2M 0.19%
+166,000
New +$15.9M
IFFT
54
DELISTED
International Flavors & Fragrances Inc. 6.00% Tangible Equity Units
IFFT
$13.6M 0.18%
+250,000
New +$13.6M
SWP
55
DELISTED
Stanley Black & Decker, Inc. Corporate Units
SWP
$13.2M 0.18%
+120,000
New +$13.1M
XEC
56
DELISTED
CIMAREX ENERGY CO
XEC
$13.1M 0.18%
141,130
– –
TSQ icon
57
Townsquare Media
TSQ
$108M
$12.5M 0.17%
1,595,224
– –
TEO icon
58
Telecom Argentina
TEO
$5.66B
$12.4M 0.17%
712,500
+471,500
+196% +$8.67M
BAC.PRL icon
59
Bank of America Series L
BAC.PRL
$3.95B
$9.84M 0.13%
7,600
-1,000
-12% -$1.28M
WFC.PRL icon
60
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.57B
$8.12M 0.11%
6,293
-384
-6% -$490K
GLIBA
61
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$7.65M 0.1%
150,000
– –
PAM icon
62
Pampa Energía
PAM
$4.26B
$7.45M 0.1%
+240,000
New +$8.33M
DYNC
63
DELISTED
Vistra Energy Corp.
DYNC
$5.99M 0.08%
61,700
-155,250
-72% -$14.5M
HK
64
DELISTED
Halcon Resources Corporation
HK
$5.68M 0.08%
+1,270,000
New +$5.32M
OIBR.C
65
DELISTED
OI S.A. American Depositary Shares, each representing five shares of common stock
OIBR.C
$5.61M 0.08%
+2,054,854
New +$7.71M
VEON icon
66
VEON
VEON
$4.09B
$4.87M 0.07%
67,156
– –
TGS icon
67
Transportadora de Gas del Sur
TGS
$4.23B
$4.65M 0.06%
+332,316
New +$4.68M
BELFB
68
Bel Fuse Inc Class B
BELFB
$3.69B
$4.64M 0.06%
175,060
– –
DCUD
69
DELISTED
Dominion Energy, Inc 2016 Series A Corporate Units
DCUD
$4.59M 0.06%
+97,000
New +$4.61M
EGLE
70
DELISTED
Eagle Bulk Shipping Inc.
EGLE
$4.41M 0.06%
112,195
– –
SIGA icon
71
SIGA Technologies
SIGA
$218M
$4.16M 0.06%
602,886
+527,886
+704% +$3.87M
BXE
72
DELISTED
Bellatrix Exploration Ltd.
BXE
$3.5M 0.05%
3,350,000
-400,000
-11% -$379K
OCSI
73
DELISTED
Oaktree Strategic Income Corporation
OCSI
$3.39M 0.05%
392,000
– –
MBT
74
DELISTED
Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares
MBT
$2.55M 0.03%
298,500
– –
CCEC
75
Capital Clean Energy Carriers
CCEC
$1.36B
$2.28M 0.03%
117,033
– –
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.