Howard Marks, Oaktree Capital Management
Portfolio USD 3,778,630,000 across 51 positions as of 2026 Q2; history from 2012 Q4. Source: quarterly 13F filings via dataroma.com.
Positions, 2026 Q2
- TRMD Torm Plc: 14% of portfolio, USD 524,261,000, reduce -14.72%
- EXE Expand Energy Corp.: 13% of portfolio, USD 477,606,000, hold
- GTX Garrett Motion Inc.: 7.3% of portfolio, USD 275,160,000, reduce -47.96%
- AU AngloGold Ashanti Ltd.: 6.8% of portfolio, USD 257,157,000, reduce -1.37%
- INDV Indivior Pharmaceuticals Inc.: 6.7% of portfolio, USD 251,400,000, reduce -12.27%
- TDS Telephone & Data Systems: 5.2% of portfolio, USD 195,520,000, add +23.08%
- VNOM Viper Energy Inc.: 4.3% of portfolio, USD 160,757,000, hold
- CORZ Core Scientific Inc: 3.4% of portfolio, USD 127,789,000, reduce -46.6%
- TLN Talen Energy Corp: 3.4% of portfolio, USD 127,235,000, hold
- B Barrick Mining Corp.: 3.1% of portfolio, USD 117,760,000, add +22.14%
- ITUB ita Unibanco Holding S.A.: 2.6% of portfolio, USD 97,858,000, reduce -1.73%
- LBTYA Liberty Global Ltd CL A: 2.6% of portfolio, USD 97,227,000, hold
- OCSL Oaktree Specialty Lending Corp: 2.5% of portfolio, USD 93,994,000, add +324.96%
- FCX Freeport-McMoran Inc.: 2.0% of portfolio, USD 75,539,000, reduce -1.56%
- AERO Grupo Aeromexico Sab De Cv: 1.9% of portfolio, USD 71,436,000, hold
- KRC Kilroy Realty Corp.: 1.8% of portfolio, USD 69,320,000, hold
- SE Sea Ltd: 1.6% of portfolio, USD 60,895,000, new
- LILAK Liberty LiLAC Group C: 1.6% of portfolio, USD 58,885,000, add +31.49%
- BLCO Bausch + Lomb Corp: 1.5% of portfolio, USD 56,984,000, add +1.72%
- VSAT Viasat Inc.: 1.5% of portfolio, USD 56,605,000, new
- MMYT MakeMyTrip Ltd: 1.4% of portfolio, USD 52,388,000, new
- MATW Matthews Intl Corp. A: 1.4% of portfolio, USD 51,848,000, new
- XP XP Inc.: 1.3% of portfolio, USD 50,679,000, reduce -1.74%
- YPF YPF S.A.: 1.2% of portfolio, USD 45,077,000, add +11.83%
- TAC TransAlta Corp.: 1.1% of portfolio, USD 41,487,000, reduce -53.24%
- RWAY Runway Growth Finance Corp: 1.0% of portfolio, USD 39,436,000, hold
- EMBJ Embraer SA: 0.7% of portfolio, USD 28,053,000, reduce -1.76%
- AD Array Digital Infrastructure Inc.: 0.7% of portfolio, USD 25,268,000, reduce -3.81%
- KRSP Rice Acquisition Corp 3 A: 0.7% of portfolio, USD 25,200,000, hold
- SHAZ Sharonai Holdings Inc: 0.7% of portfolio, USD 24,505,000, reduce -71.05%
- TX Ternium S.A.: 0.7% of portfolio, USD 24,438,000, reduce -1.82%
- QMCO Quantum Corp.: 0.6% of portfolio, USD 22,128,000, new
- SMPL Simply Good Foods Co.: 0.4% of portfolio, USD 15,988,000, add +6.64%
- SGRY Surgery Partners Inc.: 0.4% of portfolio, USD 14,491,000, new
- MINE Mayfair Gold Corp: 0.3% of portfolio, USD 11,070,000, hold
- BMM Blue Moon Metals Inc: 0.3% of portfolio, USD 10,689,000, hold
- SMRT SmartRent Inc.: 0.2% of portfolio, USD 8,931,000, hold
- MX MagnaChip Semiconductor Corp.: 0.2% of portfolio, USD 7,095,000, reduce -47.37%
- LILA Liberty LiLAC Group A: 0.2% of portfolio, USD 6,578,000, hold
- BATL Battalion Oil Corp.: 0.1% of portfolio, USD 3,943,000, hold
- DPC Dpc Holdings Plc: 0.1% of portfolio, USD 3,680,000, new
- SVC Service Properties Trust: 0.1% of portfolio, USD 3,360,000, new
- BTAI Bioxcel Therapeutics Inc: 0.1% of portfolio, USD 1,946,000, add +472.27%
- NNBR NN Inc.: 0.1% of portfolio, USD 1,834,000, new
- TEO Telecom Argentina S.A.: <0.1% of portfolio, USD 1,509,000, reduce -92.84%
- CX Cemex: <0.1% of portfolio, USD 1,200,000, reduce -96.38%
- ALVOW Alvotech SA 27: <0.1% of portfolio, USD 1,073,000, hold
- STKL-OLD SunOpta Inc.: <0.1% of portfolio, USD 406,000, reduce -99.64%
- KRSP.WS Rice Acquisition Corp 3: <0.1% of portfolio, USD 396,000, hold
- ALVO Alvotech SA: <0.1% of portfolio, USD 362,000, reduce -59.18%
- OPI Office Properties Income Tru: 0.0% of portfolio, USD 184,000, new
Portfolio value, all published quarters
- 2012 Q4: USD 2,278,775,381
- 2013 Q1: USD 1,651,392,215
- 2013 Q2: USD 1,775,955,541
- 2013 Q3: USD 1,909,645,068
- 2013 Q4: USD 2,237,144,949
- 2014 Q1: USD 2,275,951,221
- 2014 Q2: USD 2,452,379,537
- 2014 Q3: USD 2,890,536,620
- 2014 Q4: USD 5,744,313,572
- 2015 Q1: USD 5,862,898,091
- 2015 Q2: USD 5,082,658,492
- 2015 Q3: USD 4,000,379,043
- 2015 Q4: USD 3,955,818,793
- 2016 Q1: USD 2,084,669,290
- 2016 Q2: USD 2,137,981,106
- 2016 Q3: USD 3,455,602,737
- 2016 Q4: USD 3,392,380,581
- 2017 Q1: USD 3,469,325,407
- 2017 Q2: USD 3,344,309,043
- 2017 Q3: USD 3,681,543,948
- 2017 Q4: USD 3,688,982,629
- 2018 Q1: USD 3,629,512,644
- 2018 Q2: USD 3,870,338,014
- 2018 Q3: USD 3,563,165,861
- 2018 Q4: USD 3,177,459,273
- 2019 Q1: USD 3,335,393,929
- 2019 Q2: USD 3,567,817,735
- 2019 Q3: USD 3,639,595,911
- 2019 Q4: USD 4,015,766,987
- 2020 Q1: USD 2,804,775,335
- 2020 Q2: USD 3,670,060,488
- 2020 Q3: USD 3,684,981,448
- 2020 Q4: USD 4,688,021,127
- 2021 Q1: USD 5,339,361,934
- 2021 Q2: USD 6,274,895,155
- 2021 Q3: USD 5,715,900,518
- 2021 Q4: USD 7,005,346,571
- 2022 Q1: USD 7,752,901,243
- 2022 Q2: USD 6,914,478,415
- 2022 Q3: USD 7,397,055,541
- 2022 Q4: USD 7,553,320,597
- 2023 Q1: USD 7,291,004,751
- 2023 Q2: USD 6,351,630,350
- 2023 Q3: USD 5,663,888,667
- 2023 Q4: USD 5,390,363,699
- 2024 Q1: USD 5,678,778,092
- 2024 Q2: USD 5,244,200,038
- 2024 Q3: USD 5,311,039,771
- 2024 Q4: USD 4,480,295,178
- 2025 Q1: USD 4,045,980,228
- 2025 Q2: USD 3,948,101,054
- 2025 Q3: USD 4,739,951,667
- 2025 Q4: USD 4,539,448,838
- 2026 Q1: USD 4,306,883,212
- 2026 Q2: USD 3,778,630,000