What Howard Marks bought and sold in Q1 2025

New positions (43)

• NOKNokia Corp-spon Adr2.0% · $99M
• TACTransalta Corp1.1% · $52M
• ITUBItau Unibanco H-spon Prf Adr0.8% · $38M
• BILIBilibili Inc-sponsored Adr0.7% · $37M
• ECEcopetrol Sa-sponsored Adr0.7% · $33M
• BEKEKE Holdings Inc-adr0.5% · $25M
• BIDUBaidu Inc - Spon Adr0.4% · $18M
• SATS 3.875 11/30/30Echostar Corp0.4% · $18M
• KCKingsoft Cloud Holdings-adr0.3% · $16M
• LIVN 2.5 03/15/29Livanova Plc0.3% · $14M
• NEE 3 03/01/27Nextera Energy Capital0.2% · $10M
• ENPH 0 03/01/28Enphase Energy Inc0.2% · $10M
• DXCM 0.375 05/15/28Dexcom Inc0.2% · $9M
• GH 1.25 02/15/31Guardant Health Inc0.2% · $8M
• TNDM 1.5 03/15/29 2024Tandem Diabetes Care Inc0.1% · $6M
• SHOPCN 0.125 11/01/25Shopify Inc0.1% · $6M
• EXPE 0 02/15/26Expedia Group Inc0.1% · $5M
• PTON 0 02/15/26Peloton Interactive Inc0.1% · $4M
• FUBO 3.25 02/15/26Fubotv Inc0.1% · $4M
• HLF 4.25 06/15/28Herbalife Ltd0.1% · $4M
• SEDG 0 09/15/25Solar Edge Technologies0.1% · $3M
• COIN 0.25 04/01/30Coinbase Global Inc0.1% · $3M
• STX 3.5 06/01/28Seagate Hdd Cayman0.1% · $3M
• TDOC 0.875 06/01/25Livongo Health<0.1% · $2M
• LITE 1.5 12/15/29Lumentum Holdings Inc<0.1% · $2M
• NICEIT 0 09/15/25Nice Ltd<0.1% · $2M
• SNAP 0.25 05/01/25Snap Inc<0.1% · $2M
• IRTC 1.5 09/01/29Irhythm Holdings Inc<0.1% · $2M
• LI 0.25 05/01/28LI Auto Inc<0.1% · $2M
• DUK 4.125 04/15/26Duke Energy Corp<0.1% · $2M
• VTR 3.75 06/01/26Ventas Realty LP<0.1% · $2M
• GES 3.75 04/15/28Guess Inc<0.1% · $2M
• PSN 2.625 03/01/29Parsons Corp<0.1% · $2M
• BBIO 2.5 03/15/27Bridgebio Pharma Inc<0.1% · $1M
• LNT 3.875 03/15/26Alliant Energy Corp<0.1% · $1M
• LYFT 0.625 03/01/29Lyft Inc<0.1% · $1M
• ON 0 05/01/27ON Semiconductor Corp<0.1% · $1M
• OKTA 0.375 06/15/26Okta Inc<0.1% · $1M
• PAR 1.5 10/15/27Par Technology Corp<0.1% · $1M
• MGPI 1.875 11/15/41Mgp Ingredients Inc<0.1% · $1M
• ESPR 4 11/15/25Esperion Therapeutics<0.1% · $759K
• CRNC 1.5 07/01/28Cerence Inc<0.1% · $419K
• REAL 4 02/15/31The Realreal Inc<0.1% · $246K

Added to (34)

• CXCemex Sab-spons Adr Part Cer+33% shares · 2.2% · $109M
• FCXFreeport-mcmoran Inc+24% shares · 1.7% · $83M
• ABXBarrick Gold Corp+148% shares · 1.0% · $49M
• NEO 0.25 01/15/28Neogenomics Inc+726% shares · 0.6% · $27M
• ABNB 0 03/15/26Airbnb Inc+1538% shares · 0.5% · $24M
• ETSY 0.25 06/15/28Etsy Inc+47% shares · 0.4% · $21M
• SEALTD 0.25 09/15/26Sea Ltd+182% shares · 0.4% · $21M
• SNAP 0.125 03/01/28Snap Inc+135% shares · 0.4% · $18M
• CNMD 2.25 06/15/27Conmed Corp+120% shares · 0.3% · $16M
• NVST 1.75 08/15/28Envista Holdings Corp+162% shares · 0.3% · $15M
• AGCN 0.375 01/15/27First Majestic Silver+84% shares · 0.3% · $15M
• VAC 3.25 12/15/27Marriott Vacation Worldw+369% shares · 0.3% · $14M
• TDOC 1.25 06/01/27Teladoc Health Inc+103% shares · 0.3% · $14M
• BBIO 2.25 02/01/29Bridgebio Pharma Inc+272% shares · 0.3% · $13M
• PPL 2.875 03/15/28Ppl Capital Funding Inc+30% shares · 0.3% · $12M
• FOUR 0.5 08/01/27Shift4 Payments Inc+21% shares · 0.2% · $12M
• ENPH 0 03/01/26Enphase Energy Inc+400% shares · 0.2% · $11M
• SHAK 0 03/01/28Shake Shack Inc+35% shares · 0.2% · $11M
• NOVA 0.25 12/01/26Sunnova Energy Intl Inc+44% shares · 0.2% · $11M
• ALRM 0 01/15/26Alarm.com Hldgs Inc+120% shares · 0.2% · $7M
• PCRX 0.75 08/01/25Pacira Biosciences Inc+64% shares · 0.2% · $7M
• BXMT 5.5 03/15/27Blackstone Mortgage TR+40% shares · 0.1% · $7M
• PMT 5.5 03/15/26Pennymac Corp+38% shares · 0.1% · $7M
• TWO 6.25 01/15/26Two Harbors Inv Corp+143% shares · 0.1% · $6M
• EYE 2.5 05/15/25National Vision Holdings+52% shares · 0.1% · $6M
• FIVN 0.5 06/01/25Five9 Inc+751% shares · 0.1% · $6M
• XYZ 0.25 11/01/27Block Inc+352% shares · 0.1% · $6M
• FLR 1.125 08/15/29Fluor Corp+25% shares · 0.1% · $6M
• LITE 0.5 06/15/28Lumentum Holdings Inc+204% shares · 0.1% · $6M
• NOVA 2.625 02/15/28Sunnova Energy Intl Inc+29% shares · 0.1% · $6M
• ON 0.5 03/01/29ON Semiconductor Corp+279% shares · 0.1% · $5M
• U 0 11/15/26Unity Software Inc+24% shares · 0.1% · $3M
• INN 1.5 02/15/26Summit Hotel Properties+74% shares · <0.1% · $2M
• TVTX 2.5 09/15/25Travere Therapeutics Inc+33% shares · <0.1% · $1M

Trimmed (32)

• CRCCalifornia Resources Corp-33% shares · 1.2% · $61M
• JDJd.com Inc-adr-32% shares · 0.8% · $40M
• PBRPetroleo Brasileiro-spon Adr-21% shares · 0.8% · $38M
• BZKanzhun Ltd - Adr-34% shares · 0.5% · $22M
• BMABanco Macro Sa-adr-31% shares · 0.4% · $20M
• GH 0 11/15/27Guardant Health Inc-43% shares · 0.4% · $20M
• TGSTransportador Gas-adr SP B-39% shares · 0.3% · $13M
• ASND 2.25 04/01/28Ascendis Pharma A/s-29% shares · 0.2% · $12M
• TVTX 2.25 03/01/29Travere Therapeutics Inc-37% shares · 0.1% · $7M
• PCG 4.25 12/01/27Pg&e Corp-59% shares · 0.1% · $7M
• DQDaqo New Energy Corp-adr-37% shares · 0.1% · $6M
• IART 0.5 08/15/25Integra Lifesciences Hld-22% shares · 0.1% · $6M
• ZTO 1.5 09/01/27Zto Express KY Inc-38% shares · 0.1% · $6M
• WK 1.25 08/15/28Workiva Inc-26% shares · 0.1% · $6M
• W 0.625 10/01/25Wayfair Inc-27% shares · 0.1% · $5M
• UBER 0.875 12/01/28 2028Uber Technologies Inc-70% shares · 0.1% · $4M
• AFRM 0 11/15/26Affirm Holdings Inc-23% shares · 0.1% · $3M
• HAE 0 03/01/26Haemonetics Corp-34% shares · 0.1% · $3M
• FVRR 0 11/01/25Fiverr International Ltd-36% shares · 0.1% · $3M
• SSRMCN 2.5 04/01/39Ssr Mining Inc-40% shares · 0.1% · $3M
• SPOT 0 03/15/26Spotify Usa Inc-46% shares · 0.1% · $3M
• BAND 0.5 04/01/28Bandwidth Inc-42% shares · 0.1% · $2M
• MGNI 0.25 03/15/26Magnite Inc-34% shares · <0.1% · $2M
• UPWK 0.25 08/15/26Upwork Inc-35% shares · <0.1% · $2M
• TTEK 2.25 08/15/28Tetra Tech Inc-71% shares · <0.1% · $2M
• EZPW 2.375 05/01/25Ezcorp Inc-54% shares · <0.1% · $2M
• XYZ 0 05/01/26Block Inc-30% shares · <0.1% · $2M
• NEO 1.25 05/01/25Neogenomics Inc-34% shares · <0.1% · $1M
• ALNY 1 09/15/27Alnylam Pharmaceuticals-26% shares · <0.1% · $1M
• RWT 7.75 06/15/27Redwood Trust Inc-39% shares · <0.1% · $1M
• FWONK 2.25 08/15/27Liberty Media Corp-91% shares · <0.1% · $852K
• HCAT 2.5 04/15/25Health Catalyst Inc-35% shares · <0.1% · $373K

Exited (37)

• INFNEURInfinera Corpwas 3.1% of book
• SNRENSunrise Communicat-cl Awas 1.2% of book
• TCOMTrip.com Group Ltd-adrwas 0.9% of book
• YUMCYum China Holdings Incwas 0.8% of book
• INFYInfosys Ltd-sp Adrwas 0.7% of book
• NTESNetease Inc-adrwas 0.7% of book
• 0E41Enlink Midstream Llcwas 0.7% of book
• PDDPdd Holdings Incwas 0.5% of book
• ATEC 0.75 08/01/26Alphatec Holdings Incwas 0.3% of book
• SO 3.875 12/15/25Southern COwas 0.3% of book
• AKAM 0.375 09/01/27Akamai Technologies Incwas 0.2% of book
• PAMPampa Energia Sa-spon Adrwas 0.2% of book
• AEIS 2.5 09/15/28Advanced Energy Indwas 0.1% of book
• DOCN 0 12/01/26Digitalocean Holdingswas 0.1% of book
• CPNGCoupang Incwas 0.1% of book
• GMED 0.375 03/15/25Nuvasive Incwas 0.1% of book
• RWT 5.75 10/01/25Rwt Holdings Incwas 0.1% of book
• EB 0.75 09/15/26Eventbrite Incwas 0.1% of book
• NMFC 7.5 10/15/25New Mountain Finance Corwas 0.1% of book
• PEGA 0.75 03/01/25Pegasystems Incwas 0.1% of book
• INSM 0.75 06/01/28Insmed Incwas 0.1% of book
• MESOMesoblast Ltd- Spon Adrwas 0.1% of book
• CHGG 0.125 03/15/25Chegg Incwas 0.1% of book
• MARA 1 12/01/26Mara Holdings Incwas 0.1% of book
• GPRE 2.25 03/15/27Green Plains Incwas 0.1% of book
• BSY 0.125 01/15/26Bentley Systems Incwas <0.1% of book
• REAL 1 03/01/28The Realreal Incwas <0.1% of book
• NIO 0.5 02/01/27Nio Incwas <0.1% of book
• CDLX 1 09/15/25Cardlytics Incwas <0.1% of book
• EGHT 4 02/01/288x8 Incwas <0.1% of book
• TMDX 1.5 06/01/28Transmedics Group Incwas <0.1% of book
• VAC 0 01/15/26Marriott Vacation Worldwwas <0.1% of book
• CBRL 0.625 06/15/26Cracker Barrel Old Countwas <0.1% of book
• TREE 0.5 07/15/25Lendingtree Incwas <0.1% of book
• NIO 3.875 10/15/29Nio Incwas <0.1% of book
• RIVN 4.625 03/15/29Rivian Auto Incwas <0.1% of book
• ABR 7.5 08/01/25Arbor Realty Trust Incwas <0.1% of book

Howard Marks's other filings