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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
+11.17%
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
$9.59B
AUM Growth
+$452M
Cap. Flow
-$822M
Cap. Flow %
-8.58%
Top 10 Hldgs %
51.8%
Holding
470
New
96
Increased
17
Reduced
17
Closed
107

Top Buys

Rank Stock Value
1
CBL
CBL Properties
CBL
+$69.5M
2
SQM icon
Sociedad Química y Minera de Chile
SQM
+$22.2M
3
AZUL
Azul
AZUL
+$14.6M
4
RWAY icon
Runway Growth Finance
RWAY
+$14.2M
5
SMRT icon
SmartRent
SMRT
+$11.3M

Top Sells

Rank Stock Value
1
EXE
Expand Energy Corp
EXE
+$73.4M
2
VAL icon
Valaris
VAL
+$44.6M
3
COOP
Mr. Cooper
COOP
+$25M
4
SMCI icon
Super Micro Computer
SMCI
+$17.9M
5
NVACU
NorthView Acquisition Corporation Unit
NVACU
+$7.54M

Sector Composition

Rank Sector Weight
1 Energy 21.9%
2 Industrials 15.89%
3 Financials 14.15%
4 Utilities 10.77%
5 Materials 5.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KYCH
126
DELISTED
Keyarch Acquisition Corporation Ordinary Shares
KYCH
$2.83M 0.03%
+290,000
New +$2.83M
MEOA
127
DELISTED
Minority Equality Opportunities Acquisition Inc. Class A Common Stock
MEOA
$2.77M 0.03%
275,000
– –
FRLA
128
DELISTED
Fortune Rise Acquisition Corporation Class A Common Stock
FRLA
$2.76M 0.03%
+275,000
New +$2.75M
BMAQ
129
DELISTED
Blockchain Moon Acquisition Corp. Common Stock
BMAQ
$2.71M 0.03%
275,000
– –
VAL icon
130
Valaris
VAL
$6.09B
$2.6M 0.03%
50,000
-1,030,184
-95% -$44.6M
NUBIU
131
DELISTED
Nubia Brand International Corp. Unit
NUBIU
$2.55M 0.03%
+255,000
New +$2.55M
FLYA
132
DELISTED
SOAR Technology Acquisition Corp.
FLYA
$2.53M 0.03%
250,000
– –
GSD
133
DELISTED
Global Systems Dynamics Inc. Class A Common Stock
GSD
$2.52M 0.03%
250,000
– –
AWIN
134
DELISTED
AERWINS Technologies Inc
AWIN
$2.51M 0.03%
2,500
– –
JTAI icon
135
Jet.AI
JTAI
$2.25M
$2.5M 0.03%
6
– –
JUN
136
DELISTED
Juniper II Corp.
JUN
$2.49M 0.03%
250,000
– –
LION
137
DELISTED
Lionheart III Corp Class A Common Stock
LION
$2.48M 0.03%
250,000
– –
PPYA
138
DELISTED
Papaya Growth Opportunity Corp. I Class A Common Stock
PPYA
$2.48M 0.03%
+250,000
New +$2.48M
MPRA
139
DELISTED
Mercato Partners Acquisition Corporation Class A Common Stock
MPRA
$2.48M 0.03%
250,000
– –
ABP
140
DELISTED
Abpro Holdings
ABP
$2.48M 0.03%
+8,333
New +$2.48M
SWSS
141
DELISTED
Clean Energy Special Situations Corp. Common stock
SWSS
$2.47M 0.03%
500,000
– –
FHLT
142
DELISTED
Future Health ESG Corp. Common stock
FHLT
$2.46M 0.03%
250,000
– –
SIER
143
DELISTED
Sierra Lake Acquisition Corp. Class A Common Stock
SIER
$2.46M 0.03%
250,000
– –
AACI
144
DELISTED
Armada Acquisition Corp. I Common Stock
AACI
$2.46M 0.03%
250,000
– –
DFLI icon
145
Dragonfly Energy
DFLI
$18M
$2.27M 0.02%
2,500
– –
PAFO
146
DELISTED
Pacifico Acquisition Corp. Common Stock
PAFO
$2.24M 0.02%
225,000
– –
FNVT
147
DELISTED
Finnovate Acquisition Corp. Class A Ordinary Shares
FNVT
$2.18M 0.02%
220,000
– –
FATP
148
DELISTED
Fat Projects Acquisition Corp Class A Ordinary Share
FATP
$2.07M 0.02%
210,000
– –
RICO
149
DELISTED
Agrico Acquisition Corp
RICO
$2.02M 0.02%
200,000
– –
CLOE
150
DELISTED
Clover Leaf Capital Corp. Class A Common Stock
CLOE
$2.01M 0.02%
200,000
– –
4 5
6
7 8

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Howard Marks's Q1 2022 Portfolio in Review

As of Q1 2022, Howard Marks held 470 positions worth $9.59B, up 4.9% from $9.14B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Howard Marks withdrew a net $822M in Q1 2022, closing 107 positions and reducing 17 holdings. Its most notable exit was NorthView Acquisition Corporation Unit, an estimated $7.54M position sold in full.

By sector, the portfolio is most concentrated in Energy at 22% of assets, up from 19% a quarter earlier, followed by Industrials and Financials.

Against the trend, Howard Marks opened a new position in Sociedad Química y Minera de Chile worth $29.7M.

  • Howard Marks's largest Q1 2022 buy was Sociedad Química y Minera de Chile: 346,485 shares worth $29.7M.
  • Howard Marks added most to CBL Properties in Q1 2022, an estimated $69.5M increase.
  • Howard Marks's biggest Q1 2022 reduction was Expand Energy Corp, cutting an estimated $73.4M.
  • Howard Marks fully exited NorthView Acquisition Corporation Unit in Q1 2022, selling an estimated $7.54M.
  • Howard Marks's ten largest holdings make up 52% of its $9.59B portfolio in Q1 2022.
  • Howard Marks opened 96 new positions and closed 107 in Q1 2022.
  • Howard Marks's portfolio value rose 4.9% quarter-over-quarter to $9.59B.

Based on Oaktree Capital Management's 13F filing for Q1 2022, filed 16 May 2022.