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
+3.45%
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
$5.44B
AUM Growth
+$238M
Cap. Flow
-$2.38B
Cap. Flow %
-43.81%
Top 10 Hldgs %
27.96%
Holding
172
New
14
Increased
16
Reduced
12
Closed
8

Top Buys

Rank Stock Value
1
SCAI
Surgical Care Affiliates, Inc.
SCAI
+$71.2M
2
MCF
Contango Oil & Gas Co.
MCF
+$56.6M
3
CCI.PRA
Crown Castle International Corp.
CCI.PRA
+$45.8M
4
PBR icon
Petrobras
PBR
+$38.2M
5
TSM icon
TSMC
TSM
+$30.8M

Top Sells

Rank Stock Value
1
APTV icon
Aptiv
APTV
+$50.6M
2
CXPO
Crimson Exploration Inc. New Common Stock
CXPO
+$46.7M
3
TMS
TMS INTERNATIONAL CORP CLASS A COM STK
TMS
+$24.1M
4
CHTR icon
Charter Communications
CHTR
+$23.9M
5
CMLS
Cumulus Media Inc. Class A Common Stock
CMLS
+$17.4M

Sector Composition

Rank Sector Weight
1 Financials 8.45%
2 Industrials 7.78%
3 Energy 5.57%
4 Communication Services 3.96%
5 Utilities 3.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DOOR
1
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
$269M 4.94%
4,477,837
-300,497
-6% -$15.2M
FBP icon
2
First Bancorp
FBP
$4.35B
$259M 4.76%
41,843,581
– –
XCO
3
DELISTED
Exco Resources
XCO
$195M 3.59%
2,451,930
-26,971
-1% -$2.3M
DYN
4
DELISTED
Dynegy, Inc.
DYN
$177M 3.26%
8,245,986
– –
APTV icon
5
Aptiv
APTV
$10B
$128M 2.35%
2,125,000
-875,000
-29% -$50.6M
AIQ
6
DELISTED
Alliance Healthcare Services
AIQ
$118M 2.16%
4,756,490
– –
MTG icon
7
MGIC Investment
MTG
$6.34B
$101M 1.86%
12,000,000
– –
CHTR icon
8
Charter Communications
CHTR
$17.9B
$99.8M 1.83%
729,683
-180,000
-20% -$23.9M
SCAI
9
DELISTED
Surgical Care Affiliates, Inc.
SCAI
$77.9M 1.43%
+2,328,027
New +$71.2M
SBLK icon
10
Star Bulk Carriers
SBLK
$3.41B
$77M 1.41%
1,154,781
+381,603
+49% +$17.5M
ALR.PRB
11
DELISTED
Alere Inc
ALR.PRB
$60.9M 1.12%
212,800
+5,000
+2% +$1.4M
MCF
12
DELISTED
Contango Oil & Gas Co.
MCF
$60.9M 1.12%
+1,287,734
New +$56.6M
LVLT
13
DELISTED
Level 3 Communications Inc
LVLT
$51.9M 0.95%
1,564,100
+35,600
+2% +$1.05M
IWM icon
14
PUT
iShares Russell 2000 ETF
IWM
$81.9B
$49.6M 0.91%
+430,000
New +$47.5M
GWRU
15
DELISTED
GENESEE & WYOMING INC TANGIBLE EQUITY UNIT (DE)
GWRU
$47.5M 0.87%
372,500
-55,000
-13% -$7.18M
AIG icon
16
American International
AIG
$39.8B
$47.4M 0.87%
929,100
– –
CCI.PRA
17
DELISTED
Crown Castle International Corp.
CCI.PRA
$45.5M 0.84%
+455,000
New +$45.8M
PBR icon
18
Petrobras
PBR
$123B
$43.1M 0.79%
3,124,177
+2,465,317
+374% +$38.2M
NRG icon
19
NRG Energy
NRG
$23.8B
$38.1M 0.7%
1,325,000
– –
TSM icon
20
TSMC
TSM
$2.17T
$37.7M 0.69%
2,160,340
+1,734,156
+407% +$30.8M
VALE.P
21
DELISTED
Vale S A
VALE.P
$37.2M 0.68%
2,657,843
+1,969,143
+286% +$27.9M
ETFC
22
DELISTED
E*Trade Financial Corporation
ETFC
$36.6M 0.67%
1,861,400
– –
VSH icon
23
Vishay Intertechnology
VSH
$4.85B
$36.5M 0.67%
2,750,000
– –
UTX.PRA
24
DELISTED
UNITED TECHNOLOGIES CORP CORP UNIT (DE)
UTX.PRA
$32.1M 0.59%
489,950
– –
TTM
25
DELISTED
Tata Motors Limited
TTM
$29M 0.53%
940,691
+673,191
+252% +$20.6M
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 Q4 2013 Portfolio in Review

As of Q4 2013, Howard Marks held 172 positions worth $5.44B, up 4.6% from $5.2B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

Howard Marks withdrew a net $2.38B in Q4 2013, closing 8 positions and reducing 12 holdings. Its most notable exit was Crimson Exploration Inc. New Common Stock, an estimated $46.7M position sold in full.

By sector, the portfolio is most concentrated in Financials at 8.5% of assets, up from 8.3% a quarter earlier, followed by Industrials and Energy.

Against the trend, Howard Marks opened a new position in Surgical Care Affiliates, Inc. worth $77.9M.

  • Howard Marks's largest Q4 2013 buy was Surgical Care Affiliates, Inc.: 2,328,027 shares worth $77.9M.
  • Howard Marks added most to Petrobras in Q4 2013, an estimated $38.2M increase.
  • Howard Marks's biggest Q4 2013 reduction was Aptiv, cutting an estimated $50.6M.
  • Howard Marks fully exited Crimson Exploration Inc. New Common Stock in Q4 2013, selling an estimated $46.7M.
  • Howard Marks's ten largest holdings make up 28% of its $5.44B portfolio in Q4 2013.
  • Howard Marks opened 14 new positions and closed 8 in Q4 2013.
  • Howard Marks's portfolio value rose 4.6% quarter-over-quarter to $5.44B.

Based on Oaktree Capital Management's 13F filing for Q4 2013, filed 11 Feb 2014.