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 2025Q4 — net new, added, trimmed, exited.

New positions37 names

SMHVANECK ETF TRUST
+865,000
$311.5M
RIOT 0.75 01/15/30RIOT PLATFORMS INC
+81,960,000
$92.9M
AEROGRUPO AEROMEXICO SAB DE CV
+3,776,986
$82.9M
SATS 3.875 11/30/30ECHOSTAR CORP
+18,000,000
$60.2M
DXCM 0.375 05/15/28DEXCOM INC
+27,995,000
$25.8M
G7553XRICE ACQUISITION CORP 3
+2,400,000
$24.7M
DKNG 0 03/15/28DRAFTKINGS INC NEW
+25,225,000
$23.1M
INFYINFOSYS LTD
+1,094,752
$19.5M
SYNA 0.75 12/01/31SYNAPTICS INC
+17,250,000
$18.3M
ONITOCWEN FINL CORP
+390,835
$17.9M
LYV 2.875 01/15/30LIVE NATION ENTERTAINMENT INC
+9,670,000
$10.2M
COGT 1.625 11/15/31COGENT BIOSCIENCES INC
+7,650,000
$9.0M
+ 25 more…

Added to55 names

SPYSPDR S&P 500 ETF TR
+55,000
$37.5M
CORZCORE SCIENTIFIC INC NEW
+1,950,000
$28.4M
AMPH 2 03/15/29AMPHASTAR PHARMACEUTICALS IN
+25,753,000
$23.9M
JBLU 0.5 04/01/26JETBLUE AIRWAYS CORP
+22,267,000
$21.9M
BMRN 1.25 05/15/27BIOMARIN PHARMACEUTICAL INC
+22,399,000
$21.5M
G98239XP INC
+1,287,282
$21.1M
FIVN 1 03/15/29FIVE9 INC
+22,570,000
$20.4M
TLNTALEN ENERGY CORP
+40,000
$15.0M
WGO 3.25 01/15/30WINNEBAGO INDUSTRIES INC
+15,312,000
$14.4M
ECVTECOVYST INC
+1,395,481
$13.6M
PEB 1.75 12/15/26PEBBLEBROOK HOTEL TR
+13,530,000
$13.1M
ABNB 0 03/15/26AIRBNB INC
+11,280,000
$11.2M
+ 43 more…

Trimmed54 names

G4766EINDIVIOR PLC
−250,676,754
$8.99B
G89479TORM PLC
−14,156,061
$282.5M
GTXGARRETT MOTION INC
−14,800,000
$258.0M
CXCEMEX SAB DE CV
−4,699,500
$54.0M
VISTVISTA OIL & GAS SAB DE CV
−1,059,069
$51.5M
G0378LANGLOGOLD ASHANTI PLC
−337,270
$28.8M
CBLCBL & ASSOC PPTYS INC
−487,550
$18.0M
BBARRICK MNG CORP
−326,968
$14.2M
G3730VFTAI AVIATION LTD
−67,847
$13.4M
MKSI 1.25 06/01/30MKS INC
−10,450,000
$13.4M
PSN 2.625 03/01/29PARSONS CORP
−11,750,000
$12.1M
RWAYRUNWAY GROWTH FINANCE CORP
−1,250,000
$11.2M
+ 42 more…

Exited31 names

IWMISHARES TR
−220,000
$53.2M
SATSECHOSTAR CORP
−600,000
$45.8M
SRPT 1.25 09/15/27SAREPTA THERAPEUTICS INC
−34,930,000
$30.8M
G6359FNABORS INDUSTRIES LTD
−737,112
$30.1M
SESEA LTD
−141,368
$25.3M
N4732MJBS N.V.
−1,580,400
$23.6M
AGCN 0.375 01/15/27FIRST MAJESTIC SILVER CORP
−18,133,000
$19.7M
FOUR 0.5 08/01/27SHIFT4 PAYMENTS INC
−14,544,000
$14.3M
MTH 1.75 05/15/28MERITAGE HOMES CORP
−12,695,000
$13.1M
DXCM 0.25 11/15/25DEXCOM INC
−12,963,000
$12.9M
WINGWINGSTOP INC
−50,000
$12.6M
GH 1.25 02/15/31GUARDANT HEALTH INC
−9,240,000
$12.1M
+ 19 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