Howard Marks
Oaktree Capital Management
Co-founder of Oaktree, whose memos on market cycles are widely read. Oaktree is mostly a credit investor; the 13F is its listed equity side.
13F portfolio value
Q2 2026
$3.78B
1-year growth
-4.3%
2-year growth
-28.0%
Positions
51
Top 10 share
66.5%
Quarterly turnover
11.1%
Last filed
Aug 14, 2026
Q2 2026: summary
MakklerAI- Howard Marks' reported US-listed stock portfolio was $3.8B across 51 positions; the top 10 made up 66.5%, and turnover was 11.1%.
- GTX was cut 48.0% and CORZ 46.6%; TRMD was reduced 14.7% but remained the largest holding at 13.9%.
- OCSL increased 325.0% to 2.5% of the portfolio; TDS rose 23.1% and B increased 22.1%.
- The filing listed 10 new positions and 11 exits, including SE at 1.6% and full exits from PBR and NOK; portfolio value fell from $4.3B in March to $3.8B.
PROEstimated trade prices are PRO
See the average price in the quarter of each buy and sale and the move since. The first row of each group is open as a preview.
New positions 10
Est. buy price PRO
SENewSea Ltd-Adr1.6%
1.61 pt impact
$87.91
+9.1% since
VSATNewViaSat, Inc.1.5%
1.50 pt impact
- MAMakemytrip Limited MauritiusNewMakemytrip Limited Mauritius
1.4%
1.39 pt impact
MATWNewMatthews International Corporation Class A1.4%
1.37 pt impact
QMCONewQuantum Corporation0.6%
0.59 pt impact
SGRYNewSurgery Partners, Inc.0.4%
0.38 pt impact
DPCNewDPC Holdings PLC<0.1%
0.10 pt impact
SVCNewService Properties Trust<0.1%
0.09 pt impact
NNBRNewNN, Inc.<0.1%
0.05 pt impact
OPINewOffice Properties Income Trust<0.1%
0.00 pt impact
Added to 8
Est. buy price PRO
OCSL+325%Oaktree Specialty Lending Corporation2.5%
1.90 pt impact
$12.06
-4.0% since
TDS+23.1%Telephone and Data Systems, Inc.5.2%
0.97 pt impact
B+22.1%Barrick Mining Corp3.1%
0.56 pt impact
- LILiberty Latin America Ltd+31.5%Liberty Latin America Ltd
1.6%
0.37 pt impact
YPF+11.8%Ypf S.A.-Sponsored Adr1.2%
0.13 pt impact
BTAIQ+472%Bioxcel Therapeutics Inc<0.1%
0.04 pt impact
SMPL+6.6%Simply Good Foods Co0.4%
0.03 pt impact
BLCO+1.7%Bausch + Lomb Corporation1.5%
0.03 pt impact
Trimmed 18
Est. sell price PRO
GTX-48.0%Garrett Motion Inc7.3%
-6.71 pt impact
$27.82
-7.3% since
STKL-99.6%Sunopta Inc<0.1%
-2.99 pt impact
CORZ-46.6%Core Scientific Inc3.4%
-2.95 pt impact
TRMD-14.7%TORM PLC Class A13.9%
-2.40 pt impact
SHAZ-71.1%SharonAI Holdings, Inc. Class A0.6%
-1.59 pt impact
TAC-53.2%Transalta Corp1.1%
-1.25 pt impact
INDV-12.3%Indivior Pharmaceuticals, Inc.6.7%
-0.93 pt impact
CX-96.4%Cemex Sab-Spons Adr Part Cer<0.1%
-0.85 pt impact
TEO-92.8%Telecom Argentina Sa-Sp Adr<0.1%
-0.52 pt impact
MX-47.4%Magnachip Semiconductor Corporation0.2%
-0.17 pt impact
AU-1.4%Anglogold Ashanti PLC6.8%
-0.09 pt impact
ITUB-1.7%Itau Unibanco H-Spon Prf Adr2.6%
-0.05 pt impact
+6 more positions
Sold out 11
Est. sell price PRO
PBRSoldPetroleo Brasileiro-Spon Adr2.9%
-2.93 pt impact
$19.54
+30.5% since
NOKSoldNokia Corp-Spon Adr2.1%
-2.09 pt impact
CBLSoldCBL & Associates Properties, Inc.1.9%
-1.92 pt impact
- CRCredo Technology Group HoldiSoldCredo Technology Group Holdi
1.2%
-1.17 pt impact
ECVTSoldEcovyst Inc0.7%
-0.71 pt impact
OPTUSoldOptimum Communications, Inc. Class A0.2%
-0.22 pt impact
- ILIllumination Acquisition Corp ISoldIllumination Acquisition Corp I
0.2%
-0.17 pt impact
NRGSoldNRG Energy, Inc.0.2%
-0.17 pt impact
BKLNSoldInvesco Senior Loan Etf<0.1%
-0.09 pt impact
HDBSoldHdfc Bank Ltd-Adr<0.1%
-0.07 pt impact
PDDSoldPdd Holdings Inc<0.1%
-0.01 pt impact
MakklerAI
Ask MakklerAI about Howard Marks's portfolio
Explore this quarter's moves and where each position stands against its estimated buy price and Makkler Fair Value. Answers are based on the 13F and today's prices.