Asset Manager · CIK 0000949509

Howard Marks

Oaktree Capital

Mega-Fund

Howard Marks runs Oaktree Capital, an asset manager overseeing $6.17T in disclosed equity holdings (SEC CIK 0000949509). The latest portfolio (2025Q4) discloses 166 positions across 11 sectors, with the largest positions in EXE, TORM PLC and ANGLOGOLD ASHANTI PLC. On a mark-to-market basis the tracked portfolio has returned 40.2% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Track Howard's filings View holdings

Portfolio

$6.17T

Positions

166

Quarter

2025Q4

Filings tracked

40

1Y+40.2%3Y+430.5%Full performance →

Quarter

2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2 2023Q1

Capital flow per quarter

BuysSellsNet

Latest · 2025Q4

-$9.31T

Lifetime buys

$7.79T

Lifetime sells

$19.20T

Quarter activity

What changed in 2023Q4 — net new, added, trimmed, exited.

New positions27 names

G61188LIBERTY GLOBAL LTD
+2,731,000
$48.5M
AMXAMERICA MOVIL SAB DE CV
+2,298,858
$42.6M
HTHTHUAZHU GROUP LTD
+1,090,795
$36.5M
NMFC 7.5 10/15/25NEW MTN FIN CORP
+14,522,000
$14.8M
W 1 08/15/26WAYFAIR INC
+13,873,000
$12.2M
BABAALIBABA GROUP HLDG LTD
+120,271
$9.3M
ABR 7.5 08/01/25ARBOR REALTY TRUST INC
+8,920,000
$9.1M
09061GBIOMARIN PHARMACEUTICAL INC
+7,867,000
$7.8M
ENV 2.625 12/01/27ENVESTNET INC
+7,820,000
$7.8M
INN 1.5 02/15/26SUMMIT HOTEL PPTYS
+8,158,000
$7.3M
SEDG 0 09/15/25SOLAREDGE TECHNOLOGIES INC
+6,179,000
$5.7M
VAC 3.25 12/15/27MARRIOTT VACATIONS WORLDWIDE CORP
+5,836,000
$5.2M
+ 15 more…

Added to57 names

TPICQTPI COMPOSITES INC
+3,899,903
$16.1M
CAKE 0.375 06/15/26CHEESECAKE FACTORY INC/THE
+16,453,000
$14.3M
JDJD.COM INC
+465,988
$13.5M
PEB 1.75 12/15/26PEBBLEBROOK HOTEL TR
+14,239,000
$12.8M
VALEVALE S A
+705,520
$11.2M
CABO 0 03/15/26CABLE ONE INC
+11,053,000
$9.4M
MSTR 0 02/15/27MICROSTRATEGY INC
+10,786,000
$9.4M
BBDBANCO BRADESCO S A
+2,588,418
$9.1M
FCXFREEPORT-MCMORAN INC
+211,608
$9.0M
G0378LANGLOGOLD ASHANTI PLC
+446,132
$8.3M
CBRL 0.625 06/15/26CRACKER BARREL OLD CTRY STOR
+9,522,000
$8.2M
SNAP 0.125 03/01/28SNAP INC
+8,287,000
$6.5M
+ 45 more…

Trimmed48 names

Y8162KSTAR BULK CARRIERS CORP.
−9,959,500
$211.7M
G89479TORM PLC
−2,806,450
$84.9M
RWAYRUNWAY GROWTH FINANCE CORP
−4,562,500
$57.6M
G3730VFTAI AVIATION LTD
−644,472
$29.9M
PBRPETROLEO BRASILEIRO SA PETRO
−1,444,238
$23.1M
VISTVISTA OIL & GAS SAB DE CV
−487,960
$14.4M
256163DOCUSIGN INC
−12,692,000
$12.7M
53069QLIBERTY LATIN AMERICA LTD
−10,025,000
$9.7M
PAMPAMPA ENERGIA S A
−168,309
$8.3M
ZS 0.125 07/01/25ZSCALER INC
−4,826,000
$7.3M
INFYINFOSYS LTD
−355,108
$6.5M
NMIHNMI HLDGS INC
−217,177
$6.4M
+ 36 more…

Exited42 names

VSTVISTRA CORP
−9,000,000
$298.6M
FYBRFRONTIER COMMUNICATIONS PARE
−2,800,846
$43.8M
DQDAQO NEW ENERGY CORP
−1,350,410
$40.9M
SQMSOCIEDAD QUIMICA Y MINERA DE
−621,630
$37.1M
G2519YCREDICORP LTD
−289,825
$37.1M
G5480ULIBERTY GLOBAL PLC
−1,946,000
$33.3M
958102WESTERN DIGITAL CORP.
−21,581,000
$21.3M
DBDDIEBOLD NIXDORF INC
−590,774
$11.2M
JFRNUVEEN FLOATING RATE INCOME
−1,192,691
$9.8M
45845PINTERCEPT PHARMACEUTICALS IN
−7,295,000
$7.2M
TDOC 0.875 06/01/25LIVONGO HEALTH INC
−7,693,000
$7.1M
42703MHERBALIFE NUTRITION LTD
−6,688,000
$6.5M
+ 30 more…

Recent transactions

Last 20 moves

ADD

Howard Marks (Oaktree Capital) added to TLN

TALEN ENERGY CORP

+40,000

~$374.84 · 2025Q4

2026-02-17

SOLD

Howard Marks (Oaktree Capital) exited EVH 3.5 12/01/29

EVOLENT HEALTH INC 3.500 12/01/29 CVT

−1,015,000

~$0.81 · 2025Q4

2026-02-17

TRIM

Howard Marks (Oaktree Capital) trimmed AVAV 0 07/15/30

AEROVIRONMENT INC

−2,000,000

~$1.09 · 2025Q4

2026-02-17

NEW

Howard Marks (Oaktree Capital) opened a new position in CAKE 0.375 06/15/26

CHEESECAKE FACTORY INC/THE

+1,960,000

~$0.99 · 2025Q4

2026-02-17

ADD

Howard Marks (Oaktree Capital) added to ALRM 0 01/15/26

ALARM COM HLDGS INC

+2,441,000

~$1.00 · 2025Q4

2026-02-17

TRIM

Howard Marks (Oaktree Capital) trimmed G9001E128

LIBERTY LATIN AMERICA LTD

−921,043

~$7.46 · 2025Q4

2026-02-17

NEW

Howard Marks (Oaktree Capital) opened a new position in G7553X114

RICE ACQUISITION CORP 3

+399,999

~$0.80 · 2025Q4

2026-02-17

ADD

Howard Marks (Oaktree Capital) added to ZD 1.75 11/01/26

ZIFF DAVIS INC

+3,715,000

~$0.98 · 2025Q4

2026-02-17

TRIM

Howard Marks (Oaktree Capital) trimmed PPL 2.875 03/15/28

PPL CAP FDG INC

−61,000

~$1.10 · 2025Q4

2026-02-17

ADD

Howard Marks (Oaktree Capital) added to ARRY 1 12/01/28

ARRAY TECHNOLOGIES INC

+8,595,000

~$0.91 · 2025Q4

2026-02-17

ADD

Howard Marks (Oaktree Capital) added to CRNC 1.5 07/01/28

CERENCE INC

+2,544,000

~$0.90 · 2025Q4

2026-02-17

TRIM

Howard Marks (Oaktree Capital) trimmed G4766E116

INDIVIOR PLC

−250,676,754

~$35.88 · 2025Q4

2026-02-17

ADD

Howard Marks (Oaktree Capital) added to HAE 0 03/01/26

HAEMONETICS CORP MASS

+5,784,000

~$0.99 · 2025Q4

2026-02-17

ADD

Howard Marks (Oaktree Capital) added to DAY 0.25 03/15/26

DAYFORCE INC

+9,969,000

~$0.99 · 2025Q4

2026-02-17

ADD

Howard Marks (Oaktree Capital) added to XYZ 0 05/01/26

BLOCK INC

+10,229,000

~$0.99 · 2025Q4

2026-02-17

ADD

Howard Marks (Oaktree Capital) added to NBR 1.75 06/15/29

NABORS INDUSTRIES INC 1.750 06/15/29 CVT

+11,230,000

~$0.81 · 2025Q4

2026-02-17

SOLD

Howard Marks (Oaktree Capital) exited TVTX 2.25 03/01/29

TRAVERE THERAPEUTICS INC

−9,213,000

~$1.13 · 2025Q4

2026-02-17

TRIM

Howard Marks (Oaktree Capital) trimmed BBIO 2.25 02/01/29

BRIDGEBIO PHARMA INC

−8,207,000

~$1.13 · 2025Q4

2026-02-17

TRIM

Howard Marks (Oaktree Capital) trimmed UPST 0.25 08/15/26

UPSTART HOLDINGS INC

−4,244,000

~$0.97 · 2025Q4

2026-02-17

TRIM

Howard Marks (Oaktree Capital) trimmed SHAK 0 03/01/28

SHAKE SHACK INC

−6,030,000

~$0.95 · 2025Q4

2026-02-17