Howard Marks - Oaktree Capital Management
Superinvestor profile · Rank #66 by reported 13F value (2026 Q2 filers) · CIK 0000949509 · All profiles
Founded 1995Los Angeles, California, USAlternative investments specializing in distressed debt and credit, value-oriented with emphasis on risk controlKey person: Howard Marks
Reported 13F value
$7.2B
Period 2026-06-30 · Filed 2026-08-14
Positions
145
Top 10 = 54.6% of value
Clone CAGR (full window)
+16.1%
2016-11-14 → 2026-10-02 · cumulative +336%
SPY CAGR (same window)
+15.5%
Cumulative +316%
Max drawdown (monthly)
-38%
Month-end values, approximate
Latest-quarter activity
40 new · 42 exited
51 increased · 33 decreased
Hypothetical clone — not this fund's returns. The performance on this page replicates only the long U.S. equity positions disclosed on this manager's Form 13F filings, rebalanced on filing dates at disclosed weights with dividend-adjusted prices. It excludes shorts, bonds, cash, non-U.S. listings, private holdings, leverage and fees. Treat it as a measure of how the disclosed stock picks performed, never as the fund's track record. Evidence: filing-by-filing dossier (PDF) · Methodology (PDF)
Clone performance
| Window | Clone CAGR | Note |
|---|---|---|
| Full window (2016-11-14 → 2026-10-02, 40 filings) | +16.08% | Cumulative +336.3% vs SPY +316.1% |
| Trailing 10Y | — | |
| Trailing 5Y | +12.92% | |
| Trailing 3Y | +22.94% | |
| Trailing 1Y | +24.31% |
Top holdings — 2026 Q2 filing
| Ticker | Company | Weight | Reported value |
|---|---|---|---|
| SPY | State Street Corp | 14.04% | $1.0B |
| Invesco Qqq Trust Series 1 | 9.04% | $652M | |
| TRMD | Torm Plc | 7.28% | $524M |
| EXE | Expand Energy Corp | 6.63% | $478M |
| GTX | Garrett Motion Inc | 3.82% | $275M |
| AU | Anglogold Ashanti Plc | 3.57% | $257M |
| INDV | Indivior Pharmaceuticals Inc | 3.49% | $251M |
| TDS | Telephone And Data Systems Inc | 2.71% | $196M |
| VNOM | Viper Energy Inc | 2.23% | $161M |
| CORZ | Core Scientific Inc | 1.78% | $128M |
As reported on the 2026-06-30 Form 13F (filed 2026-08-14). Full holdings and quarter changes: holdings page.
Filing history in this profile
Every clone input traces to one of these SEC filings. 71.4% of the latest filing's reported value is covered by our price history; the remainder is mostly non-U.S. listings, recent IPOs or delisted names and is excluded from the clone.
Background (founded / HQ / style) source: https://en.wikipedia.org/wiki/Oaktree_Capital_Management — Co-founded in April 1995 by Howard Marks, Bruce Karsh and others formerly at TCW Group; majority owned by Brookfield Asset Management since 2019.