Latticework

Warren Buffett vs Howard Marks

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Warren Buffett discloses $263.10B across 29 positions as of 2026Q1; Howard Marks (Oaktree Capital Management) discloses $5.91B across 143 as of 2026Q1. They overlap on 0 holdings.

MetricBuffettHoward Marks
Disclosed portfolio$263.10B$5.91B
Positions29143
Top-5 concentration67%35%
Latest filing2026Q1 · May 15, 20262026Q1 · May 20, 2026
Cloning this 13F returned11.3%/yr over 12.2 yrs4.3%/yr over 12.2 yrs
S&P 500, same window13.8%/yr13.7%/yr

Clone returns replicate each manager's 13F at reported weights with the real disclosure lag; the S&P 500 figure beneath is measured over that manager's identical window (SPY total return). Because each manager has a different amount of 13F history, the two columns cover different spans — compare each manager against their own benchmark row, not across columns. Methodology.

Buffett's top 10

  1. AAPL22.0%
  2. AXP17.4%
  3. KO11.6%
  4. BAC9.5%
  5. CVX6.6%
  6. OXY6.5%
  7. GOOGL5.9%
  8. CB4.2%
  9. MCO4.1%
  10. KHC2.8%

Howard Marks's top 10

  1. TRMD11.4%
  2. EXE9.7%
  3. AU5.3%
  4. GTX4.5%
  5. INDV3.6%
  6. TDS3.1%
  7. VNOM3.0%
  8. CORZ2.4%
  9. STKL2.3%
  10. PBR2.1%

Where they diverge

Buffett's largest holding that Howard Marksdoesn't own: AAPL at 22.0% of the book. Howard Marks's largest holding Buffett doesn't own: TRMD at 11.4%.

From SEC EDGAR Form 13F-HR filings (2026Q1 / 2026Q1). Long US-listed equities only — cash, shorts, bonds, and non-US positions are not disclosed, and both managers' real books extend beyond what a 13F shows. Not investment advice.