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
+5.97%
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
$6.38B
AUM Growth
-$317M
Cap. Flow
-$2.26B
Cap. Flow %
-35.36%
Top 10 Hldgs %
39.76%
Holding
213
New
7
Increased
22
Reduced
22
Closed
10

Top Buys

Rank Stock Value
1
INFY icon
Infosys
INFY
+$43.1M
2
TV icon
Televisa
TV
+$31.7M
3
STKL
SunOpta
STKL
+$30.9M
4
RYAM icon
Rayonier Advanced Materials
RYAM
+$26.2M
5
TCOM icon
Trip.com Group
TCOM
+$17.6M

Top Sells

Rank Stock Value
1
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
+$289M
2
AABA
Altaba Inc
AABA
+$143M
3
BABA icon
Alibaba
BABA
+$34.2M
4
TSM icon
TSMC
TSM
+$19.5M
5
AGN.PRA
Allergan plc
AGN.PRA
+$18.7M

Sector Composition

Rank Sector Weight
1 Utilities 16%
2 Financials 10.75%
3 Industrials 7.64%
4 Communication Services 6.17%
5 Technology 4.72%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NBIS
76
Nebius Group N.V.
NBIS
$59.6B
– –
-65,500
Closed -$2.16M
PENG
77
Penguin Solutions Inc
PENG
$2.7B
– –
-936,370
Closed -$12.5M
KMI.PRA
78
DELISTED
Kinder Morgan, Inc.
KMI.PRA
– –
-300,000
Closed -$12.8M
AGN.PRA
79
DELISTED
Allergan plc
AGN.PRA
– –
-25,296
Closed -$18.7M
XCO
80
DELISTED
Exco Resources
XCO
– –
-2,051,579
Closed -$2.75M
MCF
81
DELISTED
Contango Oil & Gas Co.
MCF
– –
-1,296,813
Closed -$6.52M
CIT
82
DELISTED
CIT Group Inc.
CIT
– –
-100,000
Closed -$4.91M
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 Q4 2017 Portfolio in Review

As of Q4 2017, Howard Marks held 213 positions worth $6.38B, down 4.7% from $6.7B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Howard Marks withdrew a net $2.26B in Q4 2017, closing 10 positions and reducing 22 holdings. Its most notable exit was Allergan plc, an estimated $18.7M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 16% of assets, up from 15% a quarter earlier, followed by Financials and Industrials.

Against the trend, Howard Marks opened a new position in Televisa worth $28.6M.

  • Howard Marks's largest Q4 2017 buy was Televisa: 1,529,453 shares worth $28.6M.
  • Howard Marks added most to Infosys in Q4 2017, an estimated $43.1M increase.
  • Howard Marks's biggest Q4 2017 reduction was TRIBUNE MEDIA COMPANY CLASS A, cutting an estimated $289M.
  • Howard Marks fully exited Allergan plc in Q4 2017, selling an estimated $18.7M.
  • Howard Marks's ten largest holdings make up 40% of its $6.38B portfolio in Q4 2017.
  • Howard Marks opened 7 new positions and closed 10 in Q4 2017.
  • Howard Marks's portfolio value fell 4.7% quarter-over-quarter to $6.38B.

Based on Oaktree Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.