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Howard Marks Oaktree Capital Management
AUM
$7.21B
Turnover
17.09%
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
+4.16%
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
$4.92B
AUM Growth
–
Cap. Flow
+$1.89B
Cap. Flow % of AUM
Cap. Flow %
38.47%
Top 10 Holdings %
Top 10 Hldgs %
36.79%
Holding
170
New
52
Increased
–
Reduced
–
Closed
–
Avg Time Held
0
years
Top 10 Avg Time Held
0
years
Top 20 Avg Time Held
0
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
First Bancorp
FBP
|
+$316M |
| 2 |
XCO
Exco Resources
XCO
|
+$281M |
| 3 |
Charter Communications
CHTR
|
+$217M |
| 4 |
Dynegy, Inc.
DYN
|
+$184M |
| 5 |
Aptiv
APTV
|
+$141M |
Top Sells
No sells this quarter
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 64.8% |
| 2 | Financials | 10.34% |
| 3 | Energy | 5.96% |
| 4 | Communication Services | 5.44% |
| 5 | Utilities | 4.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
First Bancorp
FBP
$4.07B
| $359M | 7.29% |
+50,684,485
| New | +$316M |
2013 Q2
0 quarters
|
|
|
XCO
2
DELISTED
Exco Resources
XCO
| $281M | 5.71% |
+2,478,901
| New | +$281M |
2013 Q2
0 quarters
|
|
|
3
Charter Communications
CHTR
$12.1B
| $244M | 4.97% |
+1,973,595
| New | +$217M |
2013 Q2
0 quarters
|
|
|
4
DELISTED
Dynegy, Inc.
DYN
| $176M | 3.57% |
+7,800,986
| New | +$184M |
2013 Q2
0 quarters
|
|
|
5
Aptiv
APTV
$9.12B
| $152M | 3.09% |
+3,000,000
| New | +$141M |
2013 Q2
0 quarters
|
|
6
DELISTED
Alliance Healthcare Services
AIQ
| $74.4M | 1.51% |
+4,756,490
| New | +$60.8M |
2013 Q2
0 quarters
|
|
7
MGIC Investment
MTG
$5.87B
| $72.8M | 1.48% |
+12,000,000
| New | +$68.3M |
2013 Q2
0 quarters
|
|
|
GWRU
8
DELISTED
GENESEE & WYOMING INC TANGIBLE EQUITY UNIT (DE)
GWRU
| $51.3M | 1.04% |
+427,500
| New | +$52.5M |
2013 Q2
0 quarters
|
|
|
CXPO
9
DELISTED
Crimson Exploration Inc. New Common Stock
CXPO
| $43.8M | 0.89% |
+15,524,819
| New | +$46.4M |
2013 Q2
0 quarters
|
|
|
ALR.PRB
10
DELISTED
Alere Inc
ALR.PRB
| $42.9M | 0.87% |
+190,800
| New | +$45.9M |
2013 Q2
0 quarters
|
|
|
UTX.PRA
11
DELISTED
UNITED TECHNOLOGIES CORP CORP UNIT (DE)
UTX.PRA
| $39.5M | 0.8% |
+664,950
| New | +$39.8M |
2013 Q2
0 quarters
|
|
12
Vishay Intertechnology
VSH
$4.4B
| $38.2M | 0.78% |
+2,750,000
| New | +$37.6M |
2013 Q2
0 quarters
|
|
13
NRG Energy
NRG
$20B
| $35.4M | 0.72% |
+1,325,000
| New | +$35.6M |
2013 Q2
0 quarters
|
|
|
MTCN
14
DELISTED
ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX)
MTCN
| – | – |
0
| – | – |
2013 Q2
0 quarters
|
|
15
Apollo Global Management
APO
$67.6B
| $30.1M | 0.61% |
+1,250,000
| New | +$30.9M |
2013 Q2
0 quarters
|
|
16
Getty Realty Corp
GTY
$1.88B
| $29.4M | 0.6% |
+1,440,359
| New | +$30M |
2013 Q2
0 quarters
|
|
17
American International
AIG
$41.7B
| $28.8M | 0.59% |
+645,000
| New | +$27.7M |
2013 Q2
0 quarters
|
|
18
DELISTED
Caesars Entertainment Corporation
CZR
| $28.5M | 0.58% |
+2,077,157
| New | +$30.1M |
2013 Q2
0 quarters
|
|
|
LVLT
19
DELISTED
Level 3 Communications Inc
LVLT
| $21.1M | 0.43% |
+1,000,000
| New | +$21.3M |
2013 Q2
0 quarters
|
|
|
TMS
20
DELISTED
TMS INTERNATIONAL CORP CLASS A COM STK
TMS
| $20.5M | 0.42% |
+1,382,425
| New | +$20.4M |
2013 Q2
0 quarters
|
|
21
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$135M
| $20.4M | 0.41% |
+887,821
| New | +$21.1M |
2013 Q2
0 quarters
|
|
|
ORBK
22
DELISTED
Orbotech Ltd
ORBK
| $17.4M | 0.35% |
+1,400,000
| New | +$15.2M |
2013 Q2
0 quarters
|
|
23
DELISTED
COMMONWEALTH REIT 6.50% PFD CUMV CONV SHS SER D
CWH.PRD
| $13.5M | 0.27% |
+586,829
| New | +$13.9M |
2013 Q2
0 quarters
|
|
24
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
| $13.5M | 0.27% |
+498,248
| New | +$13.7M |
2013 Q2
0 quarters
|
|
|
SWY
25
DELISTED
SAFEWAY INC
SWY
| $11.8M | 0.24% |
+558,500
| New | +$12.2M |
2013 Q2
0 quarters
|
|
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Howard Marks's Q2 2013 Portfolio in Review
Q2 2013 is the first quarter with a 13F filing on record for Howard Marks, which disclosed 170 positions worth $4.92B. Its ten largest holdings account for 37% of the portfolio.
Its largest position is First Bancorp: 50,684,485 shares worth $359M.
By sector, the portfolio is most concentrated in Miscellaneous at 65% of assets, followed by Financials and Energy.
- Howard Marks's largest Q2 2013 buy was First Bancorp: 50,684,485 shares worth $359M.
- Howard Marks's ten largest holdings make up 37% of its $4.92B portfolio in Q2 2013.
- Howard Marks disclosed 170 positions in Q2 2013, its first 13F filing on record.
Based on Oaktree Capital Management's 13F filing for Q2 2013, filed 5 Aug 2013.