Howard Marks

Net buying

Oaktree Capital Management Lp — managed by Howard Marks; US equity positions disclosed quarterly via SEC 13F

Data as of 2026-06-30 (filed 2026-08-14) · Source: SEC EDGAR

Portfolio value$5.31B (−10%)

Holdings138 (−4)

Top holdingTorm Plc

Below band0

New

Added

Exited

By what price implies: 5 demand a demanding growth rate, 0 modest.

13F · concentration

Lonely conviction

Held by ≤2 tracked superinvestors, each ≥3% of this portfolio (as of 2026-06-30):

SEC 13F · latest filing

Holdings

Security	Value	Valuation	Holders	Shares	Weight	Signal
State Street CorpSPYPUT	$1.01B	—	—	1,355,000	—	—
Invesco Qqq Trust Series 1QQQPUT	$651.7M	—	—	885,000	—	—
Torm PlcTRMD	$524.3M	—	2	20,329,874	9.9%	—
Expand Energy CorpEXE	$477.6M	—	4	5,237,477	9.0%	—
Garrett Motion IncGTX	$275.2M	—	2	7,594,816	5.2%	—
Anglogold Ashanti PlcAU	$257.2M	—	3	3,179,092	4.8%	—
Indivior Pharmaceuticals IncINDV	$251.4M	—	2	6,127,212	4.7%	—
Telephone And Data Systems IncTDS	$195.5M	—	2	5,282,905	3.7%	—
Viper Energy IncVNOM	$160.8M	—	3	3,791,432	3.0%	—
Core Scientific IncCORZCALL	$128.0M	—	3	5,000,000	—	—
Core Scientific IncCORZ	$127.8M	—	3	4,993,708	2.4%	—
Talen Energy CorpTLN	$127.2M	—	4	331,117	2.4%	—
Barrick Mining CorpB	$117.8M	—	5	3,206,087	2.2%	—
Itau Unibanco Holding SaITUB	$97.9M	—	4	11,977,665	1.8%	—
Liberty Global LtdLBTYA	$97.2M	—	3	8,551,191	1.8%	—
Oaktree Specialty Lending CorpOCSL	$94.0M	—	1	7,872,199	1.8%	—
Freeport-Mcmoran IncFCX	$75.5M	—	3	1,201,122	1.4%	—
Grupo Aeromexico Sab De CvAERO	$71.4M	—	2	3,968,686	1.3%	—
Kilroy Realty CorpKRC	$69.3M	—	1	1,850,011	1.3%	—
Pebblebrook Hotel Trust	$63.1M	—	—	63,534,000	1.2%	Adding · 3 quarters
Biomarin Pharmaceutical Inc	$62.4M	—	—	64,025,000	1.2%	Adding · 5 quarters
Sea Ltd	$62.1M	—	—	62,567,000	1.2%	Adding · 7 quarters
Etsy Inc	$61.2M	—	—	66,836,000	1.2%	Adding · 7 quarters
Sea LtdSE	$60.9M	—	10	635,443	1.1%	—
Liberty Latin America LtdLILAK	$58.9M	—	2	7,559,083	1.1%	—

State Street CorpSPYPUT—
Value$1.01BValuation—Holders—Weight—
Invesco Qqq Trust Series 1QQQPUT—
Value$651.7MValuation—Holders—Weight—
Torm PlcTRMD—
Value$524.3MValuation—Holders2Weight9.9%
Expand Energy CorpEXE—
Value$477.6MValuation—Holders4Weight9.0%
Garrett Motion IncGTX—
Value$275.2MValuation—Holders2Weight5.2%
Anglogold Ashanti PlcAU—
Value$257.2MValuation—Holders3Weight4.8%
Indivior Pharmaceuticals IncINDV—
Value$251.4MValuation—Holders2Weight4.7%
Telephone And Data Systems IncTDS—
Value$195.5MValuation—Holders2Weight3.7%
Viper Energy IncVNOM—
Value$160.8MValuation—Holders3Weight3.0%
Core Scientific IncCORZCALL—
Value$128.0MValuation—Holders3Weight—
Core Scientific IncCORZ—
Value$127.8MValuation—Holders3Weight2.4%
Talen Energy CorpTLN—
Value$127.2MValuation—Holders4Weight2.4%
Barrick Mining CorpB—
Value$117.8MValuation—Holders5Weight2.2%
Itau Unibanco Holding SaITUB—
Value$97.9MValuation—Holders4Weight1.8%
Liberty Global LtdLBTYA—
Value$97.2MValuation—Holders3Weight1.8%
Oaktree Specialty Lending CorpOCSL—
Value$94.0MValuation—Holders1Weight1.8%
Freeport-Mcmoran IncFCX—
Value$75.5MValuation—Holders3Weight1.4%
Grupo Aeromexico Sab De CvAERO—
Value$71.4MValuation—Holders2Weight1.3%
Kilroy Realty CorpKRC—
Value$69.3MValuation—Holders1Weight1.3%
Pebblebrook Hotel TrustAdding · 3 quarters
Value$63.1MValuation—Holders—Weight1.2%
Biomarin Pharmaceutical IncAdding · 5 quarters
Value$62.4MValuation—Holders—Weight1.2%
Sea LtdAdding · 7 quarters
Value$62.1MValuation—Holders—Weight1.2%
Etsy IncAdding · 7 quarters
Value$61.2MValuation—Holders—Weight1.2%
Sea LtdSE—
Value$60.9MValuation—Holders10Weight1.1%
Liberty Latin America LtdLILAK—
Value$58.9MValuation—Holders2Weight1.1%

Showing top 25 of 145 positions

Exited this quarter (40)Petroleo Brasileiro Sa - Petrobras、Jetblue Airways Corp、Nokia Oyj、Cbl & Associates Properties Inc、American Water Capital Corp、Coinbase Global Inc、Credo Technology Group Holding Ltd、Okta Inc、Q2 Holdings Inc、Block Inc、Progress Software Corp、Ecovyst Inc… +28 more

What is a superinvestor

About this investor

Portfolio overview

Oaktree Capital Management Lp's most recent 13F filing, for the quarter ended 2026-06-30, reports 138 positions worth $5.31B. The top 5 holdings represent 34% of that value, a broadly diversified portfolio.

The single largest position is Torm Plc at 9.9% of the portfolio, followed by Expand Energy Corp at 9.0% and Garrett Motion Inc at 5.2%.

Against the prior quarter, Howard Marks opened 36 new positions, exited 40, added to 48, and trimmed 33. The largest new buy was Sea Ltd. The most notable sale was the full exit from Jetblue Airways Corp.

Across all 8 quarters on file, Torm Plc has appeared in every filing, as has Expand Energy Corp. Torm Plc currently ranks first by value.

A 13F is filed roughly 45 days after quarter-end and covers only long positions in US-listed equities, so it is a lagging and partial view of the portfolio. Source: SEC EDGAR.

Howard Marks has no positions in the strike zone right now. Browse the whole market by value band

Sources· SEC EDGAR 13F as of 2026-06-30 · filed 2026-08-14

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