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← Howard Marks

Howard Marks's 2025Q2 portfolio

Howard Marks (Oaktree Capital Management) held 68 positions as of Jun 30, 2025, with the largest position at 13.5% of the portfolio.

Showing positions still held at the most recent quarter so their historical weights can be reconstructed. Positions that were held in 2025Q2but have since been exited aren't included in this table — for a full point-in-time reconstruction, use the SEC EDGAR filing directly.

Holdings as of Jun 30, 2025 (68)

  1. 1TRMDTorm Plc
    % port
    13.5%
    now 11.4%
  2. 2EXEExpand Energy Corp
    % port
    11.7%
    -0.8pp vs prior Qnow 9.7%
  3. 3GTXGarrett Motion Inc
    % port
    7.7%
    +0.2pp vs prior Qnow 4.5%
  4. 4AUAnglogold Ashanti Plc
    % port
    4.5%
    +0.3pp vs prior Qnow 5.3%
  5. 5STKLSunopta Inc
    % port
    2.4%
    +0.3pp vs prior Qnow 2.3%
  6. 6RWAYRunway Growth Finance Corp
    % port
    2.1%
    -0.2pp vs prior Qnow 0.8%
  7. 7CXCemex Sab-spons Adr Part Cer
    % port
    2.0%
    -0.2pp vs prior Qnow 0.5%
  8. 8NOKNokia Corp-spon Adr
    % port
    1.9%
    now 1.5%
  9. 9FCXFreeport-mcmoran Inc
    % port
    1.7%
    now 1.2%
  10. 10(cusip)Liberty Global Ltd
    % port
    1.6%
    now 1.7%
  11. 11CBLCbl & Associates Properties
    % port
    1.5%
    -0.1pp vs prior Qnow 1.4%
  12. 12ITUBItau Unibanco H-spon Prf Adr
    % port
    1.5%
    +0.7pp vs prior Qnow 1.7%
  13. 13BBarrick Mining Corp
    % port
    1.3%
    now 1.8%
  14. 14TACTransalta Corp
    % port
    1.3%
    +0.2pp vs prior Qnow 1.4%
  15. 15KRCKilroy Realty Corp
    % port
    1.3%
    now 0.9%
  16. 16PEB 1.75 12/15/26Pebblebrook Hotel Trust
    % port
    1.2%
    +0.4pp vs prior Qnow 1.0%
  17. 17JBLU 0.5 04/01/26Jetblue Airways Corp
    % port
    1.1%
    +0.3pp vs prior Qnow 1.6%
  18. 18TLNTalen Energy Corp
    % port
    0.7%
    -0.5pp vs prior Qnow 1.8%
  19. 19BLCOBausch + Lomb Corp
    % port
    0.7%
    now 0.9%
  20. 20SEALTD 0.25 09/15/26Sea Ltd
    % port
    0.6%
    +0.1pp vs prior Qnow 0.8%
  21. 21TDOC 1.25 06/01/27Teladoc Health Inc
    % port
    0.6%
    +0.3pp vs prior Q
  22. 22TXTernium Sa-sponsored Adr
    % port
    0.5%
    now 0.4%
  23. 23ETSY 0.25 06/15/28Etsy Inc
    % port
    0.5%
    +0.1pp vs prior Qnow 0.9%
  24. 24CNMD 2.25 06/15/27Conmed Corp
    % port
    0.5%
    +0.2pp vs prior Q
  25. 25SNAP 0.125 03/01/28Snap Inc
    % port
    0.5%
    +0.2pp vs prior Qnow 0.1%
  26. 26SATS 3.875 11/30/30Echostar Corp
    % port
    0.5%
    +0.1pp vs prior Qnow 1.1%
  27. 27OCSLOaktree Specialty Lending CO
    % port
    0.5%
    now 0.4%
  28. 28VAC 3.25 12/15/27Marriott Vacation Worldw
    % port
    0.5%
    +0.2pp vs prior Qnow 0.8%
  29. 29TEOTelecom Argentina Sa-sp Adr
    % port
    0.5%
    now 0.3%
  30. 30NVST 1.75 08/15/28Envista Holdings Corp
    % port
    0.4%
    now 0.3%
  31. 31OPTUOptimum Communications Inc-a
    % port
    0.3%
    now 0.2%
  32. 32SO 4.5 06/15/27Southern CO
    % port
    0.3%
    now 0.1%
  33. 33(cusip)Liberty Latin America Ltd
    % port
    0.3%
    now 0.9%
  34. 34(cusip)Alvotech SA
    % port
    0.3%
    now 0.0%
  35. 35JD 0.25 06/01/29Jd.com Inc
    % port
    0.3%
  36. 36FOUR 0.5 08/01/27Shift4 Payments Inc
    % port
    0.3%
    now 0.4%
  37. 37ENPH 0 03/01/28Enphase Energy Inc
    % port
    0.2%
    now 0.9%
  38. 38MXMagnachip Semiconductor Corp
    % port
    0.2%
  39. 39UPST 0.25 08/15/26Upstart Holdings Inc
    % port
    0.2%
    now 0.1%
  40. 40COIN 0.25 04/01/30Coinbase Global Inc
    % port
    0.2%
    +0.2pp vs prior Qnow 0.0%
  41. 41YPFYpf S.a.-sponsored Adr
    % port
    0.2%
    now 0.7%
  42. 42CBRL 0.625 06/15/26Cracker Barrel Old Count
    % port
    0.2%
    now 0.4%
  43. 43(cusip)Alvotech SA
    % port
    0.2%
    now 0.0%
  44. 44NEE 3 03/01/27Nextera Energy Capital
    % port
    0.2%
    now 0.0%
  45. 45DXCM 0.375 05/15/28Dexcom Inc
    % port
    0.2%
    now 0.6%
  46. 46PSN 2.625 03/01/29Parsons Corp
    % port
    0.2%
    +0.1pp vs prior Qnow 0.0%
  47. 47SMRTSmartrent Inc
    % port
    0.1%
  48. 48BXMT 5.5 03/15/27Blackstone Mortgage TR
    % port
    0.1%
  49. 49FLR 1.125 08/15/29Fluor Corp
    % port
    0.1%
    now 0.0%
  50. 50HDBHdfc Bank Ltd-adr
    % port
    0.1%

13F-HR filings disclose long US-equity positions only. 13Fs don't cover shorts, bonds, derivatives, or non-US listings, so the picture here is the public part of the portfolio — not the whole.

Not investment advice.