Fund · Howard Marks
Oaktree Capital
Credit first. Equities are often post-restructuring.
Copying every 13F the day after it was filed returned 10.5% a year, against 14.2% for SPY over the same 13.3 years and 54 quarters, since Jul 2013. Clone score 49 of 100: Coin flip.
| Manager | Howard Marks |
| Clone score | 49 / 100 |
| Verdict | Coin flip |
| Copy, a year | 10.5% |
| SPY, a year | 14.2% |
| Edge, a year | −3.7% |
| Latest quarter | Q2 2026 |
| Filed | 14 Aug 2026 |
| 13F value | $3.8B |
| Positions | 51 |
Largest holdings
| Ticker | Name | Weight | Value | Change |
|---|---|---|---|---|
| TORM | TORM PLC | 13.9% | $524M | TRIM |
| EXE | EXPAND ENERGY CORP | 12.6% | $478M | HOLD |
| GTX | GARRETT MOTION INC | 7.3% | $275M | TRIM |
| AU | ANGLOGOLD ASHANTI PLC | 6.8% | $257M | TRIM |
| INDV | INDIVIOR PHARMACEUTICALS INC | 6.7% | $251M | TRIM |
| TDS | TELEPHONE AND DATA SYSTEMS INC | 5.2% | $196M | ADD |
| VNOM | VIPER ENERGY INC | 4.3% | $161M | HOLD |
| CORZ | CORE SCIENTIFIC INC | 3.4% | $128M | TRIM |
| TLN | TALEN ENERGY CORP | 3.4% | $127M | HOLD |
| B | BARRICK MINING CORP | 3.1% | $118M | ADD |
| ITUB | ITAU UNIBANCO HOLDING SA | 2.6% | $97.9M | TRIM |
| LBTYA | LIBERTY GLOBAL LTD | 2.6% | $97.2M | HOLD |
| OCSL | OAKTREE SPECIALTY LENDING CORP | 2.5% | $94.0M | ADD |
| FCX | FREEPORT-MCMORAN INC | 2.0% | $75.5M | TRIM |
| AERO | GRUPO AEROMEXICO SAB DE CV | 1.9% | $71.4M | HOLD |