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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
GGAA
151
DELISTED
Genesis Growth Tech Acquisition Corp. Class A Ordinary Shares
GGAA
$2M 0.02%
+201,400
New +$2M
NETC
152
DELISTED
Nabors Energy Transition Corp.
NETC
$2M 0.02%
+200,000
New +$1.99M
HCMA
153
DELISTED
HCM Acquisition Corp Class A Ordinary Shares
HCMA
$1.99M 0.02%
+200,000
New +$1.98M
MNTN
154
DELISTED
Everest Consolidator Acquisition Corporation
MNTN
$1.99M 0.02%
+200,000
New +$1.98M
GTAC
155
DELISTED
Global Technology Acquisition Corp. I Class A Ordinary Shares
GTAC
$1.99M 0.02%
200,000
– –
AVHI
156
DELISTED
Achari Ventures Holdings Corp I
AVHI
$1.99M 0.02%
200,000
– –
PSTH
157
DELISTED
Pershing Square Tontine Holdings, Ltd.
PSTH
$1.99M 0.02%
100,000
– –
PNST
158
DELISTED
Pinstripes Holdings, Inc.
PNST
$1.99M 0.02%
+200,000
New +$1.98M
BCSA
159
DELISTED
Blockchain Coinvestors Acquisition Corp. I Class A Ordinary Shares
BCSA
$1.99M 0.02%
+200,000
New +$1.97M
BMAC
160
DELISTED
Black Mountain Acquisition Corp.
BMAC
$1.99M 0.02%
200,000
– –
ITAQ
161
DELISTED
Industrial Tech Acquisitions II, Inc. Class A Common Stock
ITAQ
$1.99M 0.02%
+200,000
New +$1.98M
ZVSA
162
DELISTED
ZyVersa Therapeutics
ZVSA
$1.98M 0.02%
+571
New +$1.98M
TYGO icon
163
Tigo Energy
TYGO
$83.7M
$1.98M 0.02%
200,000
– –
DAOO
164
DELISTED
Crypto 1 Acquisition Corp Class A Ordinary Shares
DAOO
$1.98M 0.02%
+200,000
New +$1.97M
GMFI
165
DELISTED
Aetherium Acquisition Corp
GMFI
$1.98M 0.02%
+200,000
New +$1.97M
AIB
166
DELISTED
AIB Acquisition Corp
AIB
$1.98M 0.02%
+200,000
New +$1.97M
BPAC
167
DELISTED
Bullpen Parlay Acquisition Company Class A Ordinary Share
BPAC
$1.97M 0.02%
+200,000
New +$1.97M
PRBM
168
DELISTED
Parabellum Acquisition Corp.
PRBM
$1.97M 0.02%
200,000
– –
SEPA
169
DELISTED
SEP Acquisition Corp Class A Common Stock
SEPA
$1.96M 0.02%
200,000
– –
ARIZ
170
DELISTED
Arisz Acquisition Corp. Common Stock
ARIZ
$1.96M 0.02%
200,000
– –
ENER
171
DELISTED
Accretion Acquisition Corp
ENER
$1.96M 0.02%
200,000
-150,000
-43% -$1.47M
IXAQ
172
DELISTED
IX Acquisition Corp. Class A Ordinary Share
IXAQ
$1.96M 0.02%
200,000
– –
BLNG
173
DELISTED
Belong Acquisition Corp. Class A Common Stock
BLNG
$1.95M 0.02%
200,000
– –
XAGE
174
DELISTED
Longevity Health Holdings, Inc. Common Stock
XAGE
$1.95M 0.02%
6,667
– –
LBBBU
175
DELISTED
Lakeshore Acquisition II Corp. Unit
LBBBU
$1.75M 0.02%
+175,000
New +$1.75M
5 6
7
8 9

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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.