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
+16.23%
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
$9.51B
AUM Growth
+$404M
Cap. Flow
-$1.66B
Cap. Flow %
-17.41%
Top 10 Hldgs %
55.21%
Holding
397
New
19
Increased
23
Reduced
16
Closed
52

Top Buys

Rank Stock Value
1
LBTYA icon
Liberty Global Class A
LBTYA
+$35.4M
2
PBR icon
Petrobras
PBR
+$11.2M
3
ECDA
ECD Automotive Design
ECDA
+$9.92M
4
KRC icon
Kilroy Realty
KRC
+$9.68M
5
BBD icon
Banco Bradesco
BBD
+$5.96M

Top Sells

Rank Stock Value
1
PCG icon
PG&E
PCG
+$257M
2
EXE
Expand Energy Corp
EXE
+$116M
3
WFRD icon
Weatherford International
WFRD
+$90.9M
4
HTZ icon
Hertz
HTZ
+$66.8M
5
CIVI
Civitas Resources
CIVI
+$66.7M

Sector Composition

Rank Sector Weight
1 Energy 33.56%
2 Financials 11.22%
3 Industrials 9.63%
4 Utilities 7.6%
5 Materials 4.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UNIT
51
Uniti Group
UNIT
$2.42B
$18.8M 0.2%
3,397,592
– –
JQC icon
52
Nuveen Credit Strategies Income Fund
JQC
$702M
$17.2M 0.18%
3,380,787
+84,825
+3% +$433K
MTG icon
53
MGIC Investment
MTG
$6.34B
$15.6M 0.16%
1,200,000
– –
AFYA icon
54
Afya
AFYA
$1.27B
$14.9M 0.16%
951,452
-487,818
-34% -$7.25M
TX icon
55
Ternium
TX
$10.9B
$14.4M 0.15%
469,799
+23,850
+5% +$713K
PAGS icon
56
PagSeguro Digital
PAGS
$2.38B
$13.9M 0.15%
1,586,397
+78,517
+5% +$922K
TEO icon
57
Telecom Argentina
TEO
$5.66B
$11.1M 0.12%
2,033,741
– –
TV icon
58
Televisa
TV
$1.47B
$10.8M 0.11%
2,364,174
– –
SMRT icon
59
SmartRent
SMRT
$274M
$10.6M 0.11%
4,379,474
+686,334
+19% +$1.7M
ECDA
60
DELISTED
ECD Automotive Design
ECDA
$9.92M 0.1%
+4,950
New +$9.92M
DHAI
61
DELISTED
DIH Holdings US
DHAI
$9.72M 0.1%
38,000
– –
MHO icon
62
M/I Homes
MHO
$3.85B
$9.7M 0.1%
210,000
– –
CURR
63
Currenc Group
CURR
$394M
$9.32M 0.1%
900,000
– –
JFR icon
64
Nuveen Floating Rate Income Fund
JFR
$1.21B
$8.68M 0.09%
1,096,236
+60,000
+6% +$490K
CNTM
65
DELISTED
ConnectM Technology Solutions, Inc. Common Stock
CNTM
$7.96M 0.08%
792,000
– –
FCT
66
DELISTED
First Trust Senior Floating Rate Income Fund II
FCT
$7.71M 0.08%
809,115
– –
NSL
67
DELISTED
NUVEEN SENIOR INCM FD
NSL
$7.66M 0.08%
1,669,270
+45,822
+3% +$216K
NVAC
68
DELISTED
NorthView Acquisition Corporation Common Stock
NVAC
$7.62M 0.08%
750,000
– –
AIEV
69
DELISTED
Thunder Power Holdings, Inc. Common Stock
AIEV
$7.47M 0.08%
735,000
– –
HWH icon
70
HWH International
HWH
$16.1M
$7.38M 0.08%
147,000
– –
TPIC
71
DELISTED
TPI Composites
TPIC
$7.11M 0.07%
700,739
– –
ASCB
72
DELISTED
A SPAC II Acquisition Corp. Ordinary Shares
ASCB
$6.91M 0.07%
675,000
– –
CIVI
73
DELISTED
Civitas Resources
CIVI
$6.66M 0.07%
115,000
-1,035,000
-90% -$66.7M
LBRDK
74
DELISTED
Liberty Broadband Class C
LBRDK
$6.64M 0.07%
86,999
– –
JRO
75
DELISTED
Nuveen Floating Rate Income Opportunty Fund
JRO
$6.31M 0.07%
807,842
+40,112
+5% +$323K
1 2
3
4 5

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 Q4 2022 Portfolio in Review

As of Q4 2022, Howard Marks held 397 positions worth $9.51B, up 4.4% from $9.11B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Howard Marks withdrew a net $1.66B in Q4 2022, closing 52 positions and reducing 16 holdings. Its most notable exit was Expand Energy Corp Class C Warrants, an estimated $59.4M position sold in full.

By sector, the portfolio is most concentrated in Energy at 34% of assets, up from 32% a quarter earlier, followed by Financials and Industrials.

Against the trend, Howard Marks opened a new position in Liberty Global Class A worth $36.8M.

  • Howard Marks's largest Q4 2022 buy was Liberty Global Class A: 1,946,000 shares worth $36.8M.
  • Howard Marks added most to Petrobras in Q4 2022, an estimated $11.2M increase.
  • Howard Marks's biggest Q4 2022 reduction was PG&E, cutting an estimated $257M.
  • Howard Marks fully exited Expand Energy Corp Class C Warrants in Q4 2022, selling an estimated $59.4M.
  • Howard Marks's ten largest holdings make up 55% of its $9.51B portfolio in Q4 2022.
  • Howard Marks opened 19 new positions and closed 52 in Q4 2022.
  • Howard Marks's portfolio value rose 4.4% quarter-over-quarter to $9.51B.

Based on Oaktree Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.