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
+2.83%
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
$5.2B
AUM Growth
+$283M
Cap. Flow
-$2.44B
Cap. Flow %
-46.93%
Top 10 Hldgs %
32.91%
Holding
177
New
8
Increased
19
Reduced
11
Closed
9

Top Buys

Rank Stock Value
1
DOOR
MASONITE INTERNATIONAL CORP
DOOR
+$238M
2
SBLK icon
Star Bulk Carriers
SBLK
+$28.8M
3
WELL.PRI
Welltower Inc.
WELL.PRI
+$27.4M
4
NTAP icon
NetApp
NTAP
+$15.4M
5
ETFC
E*Trade Financial Corporation
ETFC
+$14.7M

Top Sells

Rank Stock Value
1
CHTR icon
Charter Communications
CHTR
+$135M
2
FBP icon
First Bancorp
FBP
+$62.5M
3
CZR
Caesars Entertainment Corporation
CZR
+$28.5M
4
SWY
SAFEWAY INC
SWY
+$11.8M
5
UTX.PRA
UNITED TECHNOLOGIES CORP CORP UNIT (DE)
UTX.PRA
+$11.1M

Sector Composition

Rank Sector Weight
1 Financials 8.28%
2 Industrials 6.42%
3 Energy 5.01%
4 Utilities 3.76%
5 Consumer Discretionary 3.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XCO
1
DELISTED
Exco Resources
XCO
$248M 4.76%
2,478,901
– –
FBP icon
2
First Bancorp
FBP
$4.35B
$238M 4.57%
41,843,581
-8,840,904
-17% -$62.5M
DOOR
3
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
$234M 4.49%
+4,778,334
New +$238M
APTV icon
4
Aptiv
APTV
$10B
$175M 3.37%
3,000,000
– –
DYN
5
DELISTED
Dynegy, Inc.
DYN
$159M 3.06%
8,245,986
+445,000
+6% +$9.02M
AIQ
6
DELISTED
Alliance Healthcare Services
AIQ
$132M 2.53%
4,756,490
– –
CHTR icon
7
Charter Communications
CHTR
$17.9B
$123M 2.36%
909,683
-1,063,912
-54% -$135M
MTG icon
8
MGIC Investment
MTG
$6.34B
$87.4M 1.68%
12,000,000
– –
GWRU
9
DELISTED
GENESEE & WYOMING INC TANGIBLE EQUITY UNIT (DE)
GWRU
$54.1M 1.04%
427,500
– –
ALR.PRB
10
DELISTED
Alere Inc
ALR.PRB
$54M 1.04%
207,800
+17,000
+9% +$4.45M
CXPO
11
DELISTED
Crimson Exploration Inc. New Common Stock
CXPO
$46.7M 0.9%
15,524,818
-1
-0% -$3
AIG icon
12
American International
AIG
$39.8B
$45.2M 0.87%
929,100
+284,100
+44% +$13.5M
LVLT
13
DELISTED
Level 3 Communications Inc
LVLT
$40.8M 0.78%
1,528,500
+528,500
+53% +$12.2M
SBLK icon
14
Star Bulk Carriers
SBLK
$3.41B
$39.2M 0.75%
+773,178
New +$28.8M
NRG icon
15
NRG Energy
NRG
$23.8B
$36.2M 0.7%
1,325,000
– –
VSH icon
16
Vishay Intertechnology
VSH
$4.85B
$35.4M 0.68%
2,750,000
– –
UTX.PRA
17
DELISTED
UNITED TECHNOLOGIES CORP CORP UNIT (DE)
UTX.PRA
$31.7M 0.61%
489,950
-175,000
-26% -$11.1M
ETFC
18
DELISTED
E*Trade Financial Corporation
ETFC
$30.7M 0.59%
1,861,400
+986,400
+113% +$14.7M
APO icon
19
Apollo Global Management
APO
$78.4B
$28.3M 0.54%
1,000,000
-250,000
-20% -$6.71M
GTY
20
Getty Realty Corp
GTY
$2.05B
$27.6M 0.53%
1,440,359
– –
WELL.PRI
21
DELISTED
Welltower Inc.
WELL.PRI
$26.6M 0.51%
+462,874
New +$27.4M
TMS
22
DELISTED
TMS INTERNATIONAL CORP CLASS A COM STK
TMS
$24.1M 0.46%
1,382,425
– –
EPR.PRC icon
23
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$146M
$20.2M 0.39%
949,821
+62,000
+7% +$1.37M
MTCN
24
DELISTED
ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX)
MTCN
– –
0
– –
CMLS
25
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
$17.4M 0.33%
411,823
-86,425
-17% -$3.15M
1
2 3

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 Q3 2013 Portfolio in Review

As of Q3 2013, Howard Marks held 177 positions worth $5.2B, up 5.7% from $4.92B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Howard Marks withdrew a net $2.44B in Q3 2013, closing 9 positions and reducing 11 holdings. Its most notable exit was Caesars Entertainment Corporation, an estimated $28.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 8.3% of assets, down from 10% a quarter earlier, followed by Industrials and Energy.

Against the trend, Howard Marks opened a new position in MASONITE INTERNATIONAL CORP worth $234M.

  • Howard Marks's largest Q3 2013 buy was MASONITE INTERNATIONAL CORP: 4,778,334 shares worth $234M.
  • Howard Marks added most to E*Trade Financial Corporation in Q3 2013, an estimated $14.7M increase.
  • Howard Marks's biggest Q3 2013 reduction was Charter Communications, cutting an estimated $135M.
  • Howard Marks fully exited Caesars Entertainment Corporation in Q3 2013, selling an estimated $28.5M.
  • Howard Marks's ten largest holdings make up 33% of its $5.2B portfolio in Q3 2013.
  • Howard Marks opened 8 new positions and closed 9 in Q3 2013.
  • Howard Marks's portfolio value rose 5.7% quarter-over-quarter to $5.2B.

Based on Oaktree Capital Management's 13F filing for Q3 2013, filed 8 Nov 2013.