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 2025Q2 — net new, added, trimmed, exited.

New positions40 names

BBARRICK MNG CORP
+3,157,686
$65.7M
BLCOBAUSCH PLUS LOMB CORP
+2,521,245
$32.8M
YMMFULL TRUCK ALLIANCE CO LTD
+1,842,337
$21.8M
DAY 0.25 03/15/26DAYFORCE INC
+18,080,000
$17.5M
DXCM 0.25 11/15/25DEXCOM INC
+16,111,000
$15.9M
SO 4.5 06/15/27SOUTHERN CO/THE
+13,459,000
$14.9M
G9001ELIBERTY LATIN AMERICA LTD
+2,328,516
$14.5M
SESEA LTD
+83,513
$13.4M
JD 0.25 06/01/29JD.COM INC
+12,352,000
$12.9M
MKSI 1.25 06/01/30MKS INC
+11,985,000
$11.9M
YPFYPF SOCIEDAD ANONIMA
+324,330
$10.2M
CBRL 0.625 06/15/26CRACKER BARREL OLD CTRY STOR
+9,922,000
$9.5M
+ 28 more…

Added to63 names

ITUBITAU UNIBANCO HLDG S A
+4,063,482
$27.6M
INN 1.5 02/15/26SUMMIT HOTEL PPTYS
+28,397,000
$27.5M
PEB 1.75 12/15/26PEBBLEBROOK HOTEL TR
+19,284,000
$18.3M
OKTA 0.125 09/01/25OKTA INC
+16,958,000
$16.9M
ALRM 0 01/15/26ALARM COM HLDGS INC
+17,163,000
$16.7M
92940WWIX COM LTD
+16,226,000
$16.2M
JBLU 0.5 04/01/26JETBLUE AIRWAYS CORP
+16,747,000
$16.1M
TDOC 1.25 06/01/27TELADOC HEALTH INC
+14,984,000
$13.9M
ENPH 0 03/01/26ENPHASE ENERGY INC
+12,004,000
$11.5M
ABNB 0 03/15/26AIRBNB INC
+11,192,000
$10.8M
G61188LIBERTY GLOBAL LTD
+1,008,001
$10.1M
VAC 3.25 12/15/27MARRIOTT VACATIONS WORLDWIDE CORP
+10,497,000
$9.8M
+ 51 more…

Trimmed45 names

GTXGARRETT MOTION INC
−7,188,000
$75.5M
EXECHESAPEAKE ENERGY CORP
−500,000
$58.5M
TLNTALEN ENERGY CORP
−190,000
$55.2M
VALEVALE S A
−3,981,076
$38.7M
Y8162KSTAR BULK CARRIERS CORP.
−2,143,104
$37.0M
CXCEMEX SAB DE CV
−4,544,697
$31.5M
NEO 0.25 01/15/28NEOGENOMICS INC
−27,637,000
$23.7M
G0378LANGLOGOLD ASHANTI PLC
−517,114
$23.6M
HOUS 0.25 06/15/26REALOGY GRP LLC/REALOGY CO
−20,315,000
$20.0M
GH 0 11/15/27GUARDANT HEALTH INC
−17,059,000
$15.5M
BMABANCO MACRO SA
−199,871
$14.0M
ASND 2.25 04/01/28ASCENDIS PHARMA A/S
−8,963,000
$11.2M
+ 33 more…

Exited32 names

ABXBARRICK GOLD CORP
−2,516,658
$48.9M
19249HCOHERUS BIOSCIENCES INC
−49,030,000
$48.3M
HTHTHUAZHU GROUP LTD
−1,229,399
$45.5M
JDJD.COM INC
−960,796
$39.5M
PBRPETROLEO BRASILEIRO SA PETRO
−2,659,492
$38.1M
BILIBILIBILI INC
−1,925,797
$36.8M
BIDUBAIDU INC
−199,684
$18.4M
KCKINGSOFT CLOUD HLDGS LTD
−1,091,853
$15.7M
ONITOCWEN FINL CORP
−410,429
$13.3M
NCLH 1.125 02/15/27NCL CORP LTD
−12,559,000
$12.2M
PCRX 0.75 08/01/25PACIRA BIOSCIENCES INC
−7,556,000
$7.5M
91854VVACASA INC
−1,375,448
$7.4M
+ 20 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