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Howard Marks / Oaktree

⭐ Priority · cloneable · 31-DEC-2025 → 31-MAR-2026

AUM $19,333,048,841 · 146 positions · top-10 47.2% · SEC filing history →

13FScore 70/100 — cloning their disclosed top holdings over ~4.7y returned +14%/yr vs S&P +10%/yr (alpha +3%/yr), ahead of the market in 58% of quarters. Cloneable 13F equity book only — excludes hedges/shorts/non-US.

New positions

Issuer% bookValueSince entryConvictionBusinessTags
$NDQ · INVESCO QQQ TRUST SERIES 15.1%$986,977,800Med
$XOP · STATE STREET SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF2.8%$545,490,000-6%Med
$PBR · PETROLEO BRASILEIRO SA - PETROBRAS2.0%$379,065,957-13%Med
$INDV · Indivior Pharmaceuticals Inc1.1%$219,859,531+33%MedA specialty pharmaceutical company focused on treatments for opioid use disorder and other substance-use and mental-health conditions, including its Suboxone and Sublocade products.NASDAQ
$INDV · INDIVIOR PHARMACEUTICALS INC1.1%$212,875,428+33%MedA specialty pharmaceutical company focused on treatments for opioid use disorder and other substance-use and mental-health conditions, including its Suboxone and Sublocade products.NASDAQ
$CRDO · CREDO TECHNOLOGY GROUP HOLDING LTD0.8%$151,787,790+116%MedDesigns high-speed connectivity semiconductors and products—including SerDes, active electrical cables, and DSP chips—for data-center and networking infrastructure.NASDAQCitriniSerenityBitget →
$COIN · COINBASE GLOBAL INC0.8%$156,683,175-10%MedCryptocurrency exchange platformNASDAQS&PCitriniSerenityBitget →
$QTWO · Q2 HOLDINGS INC0.6%$122,653,962+16%MedCloud banking software for financial institutions
$PRGS 1 04.15.26 · PROGRESS SOFTWARE CORP0.6%$108,330,489Med
$YPF · YPF SA0.6%$122,917,236+7%Med
LYONDELLBASELL INDUSTRIES NV0.6%$120,840,000MedLyondellBasell Industries is a chemical company that produces plastics, polymers, and petrochemicals, including polyethylene and polypropylene, and licenses polyolefin process technologies.
$FOUR · SHIFT4 PAYMENTS INC0.4%$77,009,310+15%MedIntegrated payment processing
$EMBJ · EMBRAER SA0.4%$79,682,820+8%Med
$SMPL · SIMPLY GOOD FOODS CO/THE0.3%$48,598,671-9%MedThe Simply Good Foods Company makes nutritional snacks, bars, shakes and confections under the Atkins and Quest brands, sold through retail and e-commerce channels.NASDAQ
$MFG · MAYFAIR GOLD CORP0.1%$13,865,501+24%Med
$NRG · NRG ENERGY INC0.1%$21,494,853+2%MedNRG Energy is an integrated power company that generates electricity and sells retail electricity, natural gas, and energy services to residential and commercial customers.S&P
$AKAM · AKAMAI TECHNOLOGIES INC0.1%$18,531,408-1%MedAkamai Technologies provides content delivery network, cloud computing, and cybersecurity services that speed and secure online content and applications.NASDAQS&PCitrini
$BKLN · INVESCO SENIOR INCOME TRUST0.1%$12,247,224+0%Med
$PCG · PG&E CORP0.1%$12,434,709-1%MedCalifornia electric and gas utilityS&P
$SHAZ · SHARONAI HOLDINGS INC0.1%$22,730,000+180%MedNASDAQ
$MOON · BLUE MOON METALS INC0.1%$10,878,757+0%Med
$ARWR · ARROWHEAD PHARMACEUTICALS INC0.1%$11,465,140+19%MedRNAi therapeutics drug developerNASDAQCitrini
$PD · PAGERDUTY INC0.1%$16,109,073+66%MedPagerDuty provides a digital-operations and incident-management platform that helps organizations detect, respond to, and resolve IT and business-service disruptions in real time.
$PMT 8.5 06.01.29 · PENNYMAC MORTGAGE INVESTMENT TRUST0.1%$12,456,105MedMortgage REIT
$MTH · MERITAGE HOMES CORP0.0%$5,517,600+20%Med
$NOG · NORTHERN OIL & GAS INC0.0%$6,602,061-28%MedNon-operated oil and gas mineral interests
$RPD · RAPID7 INC0.0%$4,723,776+121%MedRapid7 provides cybersecurity software and services for vulnerability management, threat detection, and security operations across cloud and on-premises environments.NASDAQ
$RIVN 3.625 10.15.30 · RIVIAN AUTOMOTIVE INC0.0%$3,744,780MedElectric trucks and delivery vans
$PDD · PDD HOLDINGS INC0.0%$1,478,442-18%MedPDD Holdings operates the Pinduoduo online marketplace in China and the Temu cross-border e-commerce platform, connecting consumers with merchants worldwide.NASDAQBitget →
$UBER · UBER TECHNOLOGIES INC0.0%$7,225,500+1%MedUber Technologies operates global mobility and delivery platforms connecting riders with drivers and customers with restaurants and couriers, plus a freight brokerage business.S&PSerenity
$IMCR · IMMUNOCORE HOLDINGS PLC0.0%$2,253,783+16%MedTCR-based cancer immunotherapy biotech (UK)NASDAQ
$JBTM · JBT MAREL CORP0.0%$8,765,631+9%Med
$SNOW · SNOWFLAKE INC0.0%$5,678,400+78%MedCloud data warehouse and analytics platformBitget →
$ALRM · ALARM.COM HOLDINGS INC0.0%$2,791,530+23%MedNASDAQ
ILLUMINATION ACQUISITION CORP I0.0%$7,440,000Med
$IRTC 1.5 09.01.29 · IRHYTHM TECHNOLOGIES INC0.0%$4,438,800MedWearable cardiac monitoring (Zio patch)

Added to (≥+25% shares)

Issuer% bookΔ sharesSince addConvictionBusinessTags
$TRMD · TORM PLC10.5%+171%-4%MedTORM is a shipping company that owns and operates a fleet of product tankers transporting refined petroleum products such as gasoline, jet fuel and diesel worldwide.NASDAQ
$EXE · EXPAND ENERGY CORP8.9%+210%-20%MedExpand Energy, formed from the merger of Chesapeake Energy and Southwestern Energy, is one of the largest US natural gas producers, exploring for and producing natural gas from shale basins.NASDAQS&PCitrini
$AU · ANGLOGOLD ASHANTI PLC4.9%+151%-16%LowAngloGold Ashanti is a global gold mining company that explores for and produces gold from operations across Africa, the Americas, and Australia.
$GTX · GARRETT MOTION INC4.1%+156%+75%LowGarrett Motion designs and manufactures turbochargers and related automotive technologies, including electric-boosting and software solutions, for passenger and commercial vehicles.NASDAQ
$CORZ · CORE SCIENTIFIC INC3.0%+273%+40%LowOperates large-scale data centers for Bitcoin mining and high-performance computing, including hosting infrastructure for AI and blockchain workloads.NASDAQ
$TDS · TELEPHONE AND DATA SYSTEMS INC2.8%+249%-18%LowRegional telecom and wireless (US Cellular)
$VNOM · VIPER ENERGY INC2.8%+81%-6%LowViper Energy owns oil and gas mineral and royalty interests, primarily in the Permian Basin, earning royalty income from production on land it holds.NASDAQ
$TLN · TALEN ENERGY CORP2.4%+129%+17%LowTalen Energy is an independent power producer that owns and operates nuclear and natural-gas generation assets and supplies wholesale electricity, including to data centers.NASDAQ
$STKL · SUNOPTA INC2.1%+200%+0%LowNASDAQ
$B · BARRICK MINING CORP1.7%+165%-14%LowBarrick Mining is one of the world's largest gold producers, also mining copper, with operations across North America, Africa, and Latin America.
$BVXB · ITAU UNIBANCO HOLDING SA1.6%+165%LowOne of Brazil's and Latin America's largest banks, providing retail and wholesale banking, credit, insurance, asset management and payments services.
LIBERTY GLOBAL LTD1.6%+200%LowLiberty Global is an international telecommunications company that provides broadband internet, video, fixed-line telephone, and mobile services to consumers and businesses across Europe.
$JBLU · JETBLUE AIRWAYS CORP1.5%+215%+23%LowUS passenger airlineNASDAQ
$RIOT · RIOT PLATFORMS INC1.4%+192%+48%LowBitcoin mining companyNASDAQ
$NOK · NOKIA OYJ1.4%+79%+26%LowCitriniSerenityBitget →
$TAC · TRANSALTA CORP1.3%+200%+1%LowTransAlta is a Canadian power generation company that develops and operates wind, hydro, natural gas and other electricity assets and sells power in North America and Australia.
$CBL · CBL & ASSOCIATES PROPERTIES INC1.3%+157%+39%Low
$FCX · FREEPORT-MCMORAN INC1.1%+163%-1%LowFreeport-McMoRan is a mining company that explores for and produces copper, gold, and molybdenum from operations in North and South America and Indonesia.S&P
$ECHO 3.875 11.30.30 · ECHOSTAR CORP1.0%+200%LowEchoStar provides satellite communications, pay-TV through Dish Network, and wireless services through Boost Mobile, including Hughes broadband and a nationwide 5G network build-out.
$ETSY · ETSY INC0.9%+266%+68%LowEtsy operates online marketplaces, led by its namesake platform, that connect buyers with independent sellers of handmade, vintage, and craft goods, earning transaction, listing, and advertising fees.
$AERO · GRUPO AEROMEXICO SAB DE CV0.9%+215%+10%LowThe flag-carrier airline of Mexico, providing passenger and cargo air transportation across domestic and international routes.
$PEB · PEBBLEBROOK HOTEL TRUST0.9%+336%+51%LowUpscale hotel and resort REIT
$XP · XP INC0.9%+187%-15%LowXP Inc. is a Brazilian financial-services firm operating an investment platform and brokerage offering trading, wealth management, and financial products to retail and institutional clients.NASDAQ
$AWK 3.625 06.15.26 · AMERICAN WATER CAPITAL CORP0.9%+4797%LowFinancing arm of American Water utility
$VAC · MARRIOTT VACATIONS WORLDWIDE CORP0.8%+287%+54%Low
$ENPH · ENPHASE ENERGY INC0.8%+345%+10%LowSolar microinverters and energy storageNASDAQCitrini
$BLCO · BAUSCH LOMB CORP0.8%+200%+2%Low
$KRC · KILROY REALTY CORP0.8%+200%+43%LowKilroy Realty is a real estate investment trust that owns, develops, and manages office and life-science properties concentrated on the US West Coast and in Austin.
LIBERTY LATIN AMERICA LTD0.8%+200%LowLiberty Latin America is a telecommunications company that provides broadband internet, video, fixed-line telephone, and mobile services across Latin America and the Caribbean.
$BMRN · BIOMARIN PHARMACEUTICAL INC0.8%+299%+5%LowRare-disease enzyme and gene therapiesNASDAQ
$RWAY · RUNWAY GROWTH FINANCE CORP0.7%+200%-18%LowNASDAQ
$SE · SEA LTD0.7%+270%+26%LowSoutheast Asia gaming, e-commerce and fintech (Shopee)
$BSY · BENTLEY SYSTEMS INC0.7%+1995%-8%LowInfrastructure engineering softwareNASDAQCitrini
$OKTA · OKTA INC0.7%+398%+90%LowIdentity and access management softwareNASDAQ
$XYZ · BLOCK INC0.6%+460%+33%LowSquare merchant payments and Cash AppS&P
$DKNG · DRAFTKINGS INC0.6%+428%+15%LowOnline sports betting and fantasy sportsNASDAQBitget →
$DXCM · DEXCOM INC0.6%+333%+12%LowContinuous glucose monitoring devicesNASDAQS&PCitrini
$CX · CEMEX SAB DE CV0.5%+44%+13%LowCemex is a Mexico-based global building-materials company producing and distributing cement, ready-mix concrete, and aggregates.
$AMPH · AMPHASTAR PHARMACEUTICALS INC0.5%+162%+1%LowInjectable and inhalation generic pharmaceuticalsNASDAQ
$TDOC · TELADOC HEALTH INC0.5%+158%+73%LowTelehealth and virtual care servicesCitrini
$U · UNITY SOFTWARE INC0.5%+1088%+32%LowReal-time 3D game development engine
$CNMD · CONMED CORP0.5%+169%+22%LowSurgical devices and equipment
$ECVT · ECOVYST INC0.5%+69%+0%LowSpecialty catalysts and chemical services
$AD · ARRAY DIGITAL INFRASTRUCTURE INC0.5%+200%-24%LowArray Digital Infrastructure owns and operates wireless communications infrastructure, including cell towers and related sites leased to mobile network operators.
$TX · TERNIUM SA0.4%+166%+11%Low
$SPB · SPECTRUM BRANDS HOLDINGS INC0.4%+185%+20%LowConsumer products (batteries, pet, home)
$ARRY · ARRAY TECHNOLOGIES INC0.4%+180%-2%LowSolar tracking systemsNASDAQCitrini
$CBRL · CRACKER BARREL OLD COUNTRY STORE INC0.4%+137%+91%LowCountry-themed restaurant and retail chainNASDAQ
$KRSP · RICE ACQUISITION CORP 30.4%+200%+2%LowA special-purpose acquisition company (SPAC) — a blank-check entity that raised capital through an IPO to merge with and take a private company public, focused on energy transition targets.
$SNAP · SNAP INC0.3%+203%-2%LowSnap Inc. operates Snapchat, a camera and messaging app, generating revenue primarily from advertising and also selling augmented-reality products and hardware.
$OCSL · OAKTREE SPECIALTY LENDING CORP0.3%+200%+3%LowNASDAQ
$TEO · TELECOM ARGENTINA SA0.3%+107%+12%Low
$FIVN · FIVE9 INC0.3%+115%+69%LowCloud contact-center softwareNASDAQ
$NBR · NABORS INDUSTRIES LTD0.2%+101%-4%LowLand and offshore drilling rigsCitrini
$AVAV · AEROVIRONMENT INC0.2%+96%-22%LowMilitary drones and unmanned systemsNASDAQCitriniSerenityBitget →
$BATL · BATTALION OIL CORP0.2%+200%-55%Low
$BXMT · BLACKSTONE MORTGAGE TRUST INC0.2%+224%-11%LowCommercial real-estate mortgage REIT
$UPWK · UPWORK INC0.2%+433%-17%LowOnline freelance work marketplaceNASDAQSerenity
$AFRM · AFFIRM HOLDINGS INC0.2%+562%+66%LowBuy-now-pay-later installment lendingNASDAQCitrini
$ITRI · ITRON INC0.2%+257%-4%LowUtility smart meters and grid technologyNASDAQ
$SMRT · SMARTRENT INC0.2%+200%-36%LowSmartRent provides smart-home hardware and software for the rental housing industry, enabling property managers to control access, monitor units and offer connected-home features.
$SYNA · SYNAPTICS INC0.2%+140%+63%LowHuman-interface and IoT semiconductorsNASDAQ
$MSTR 0 12.01.29 · STRATEGY INC0.2%+529%LowEnterprise analytics software and Bitcoin treasury (MicroStrategy)
$COGT · COGENT BIOSCIENCES INC0.2%+301%+2%LowPrecision-oncology therapeuticsNASDAQ
$NVST · ENVISTA HOLDINGS CORP0.2%+56%+5%LowDental products and technology
$ZD · ZIFF DAVIS INC0.2%+200%+20%LowDigital media and internet publishingNASDAQ
$XYZ · BLOCK INC0.2%+455%+33%LowSquare merchant payments and Cash AppS&P
$JD · JD.COM INC0.2%+72%+0%LowOne of China's largest e-commerce and retail companies, operating online marketplaces with an extensive owned logistics and fulfillment network, plus technology and health services.NASDAQBitget →
$OPTU · OPTIMUM COMMUNICATIONS INC0.1%+193%-34%Low
$RWT 7.75 06.15.27 · REDWOOD TRUST INC0.1%+232%LowResidential mortgage REIT and credit investor
$CALY · CALLAWAY GOLF CO0.1%+187%+40%Low
$CRNC · CERENCE INC0.1%+170%+37%LowConversational AI for automotiveNASDAQ
$UPST · UPSTART HOLDINGS INC0.1%+103%+15%LowNASDAQ
LIBERTY LATIN AMERICA LTD0.1%+200%LowLiberty Latin America is a telecommunications company that provides broadband internet, video, fixed-line telephone, and mobile services across Latin America and the Caribbean.
$SNAP · SNAP INC0.1%+200%-2%LowSnap Inc. operates Snapchat, a camera and messaging app, generating revenue primarily from advertising and also selling augmented-reality products and hardware.
$SO 4.5 06.15.27 · SOUTHERN CO/THE0.1%+121%LowElectric utility holding company (Southeast US)
$TCOM · TRIP.COM GROUP LTD0.1%+1815%-18%LowNASDAQ
$DDOG · DATADOG INC0.1%+208%+119%LowCloud monitoring and observability platformNASDAQS&PCitrini
$GPRE · GREEN PLAINS INC0.1%+95%-8%LowEthanol production and biorefiningNASDAQ
$NEO · NEOGENOMICS INC0.1%+136%+91%LowCancer genetic and molecular testing labsNASDAQ
$SNAP · SNAP INC0.1%+34%-2%LowSnap Inc. operates Snapchat, a camera and messaging app, generating revenue primarily from advertising and also selling augmented-reality products and hardware.
$NTNX · NUTANIX INC0.1%+1040%+45%LowHybrid-cloud and hyperconverged infrastructure softwareNASDAQCitrini
$WGO · WINNEBAGO INDUSTRIES INC0.1%+39%-1%LowRecreational vehicles and motorhomes
$ZD · ZIFF DAVIS INC0.1%+200%+20%LowDigital media and internet publishingNASDAQ
$RGEN · REPLIGEN CORP0.1%+175%+25%LowBioprocessing products for biologic-drug manufacturingNASDAQCitrini
$LCII · LCI INDUSTRIES0.1%+176%-12%LowRV and recreational vehicle components
$MX · MAGNACHIP SEMICONDUCTOR CORP0.1%+200%+22%Low
$PENN · PENN ENTERTAINMENT INC0.1%+479%+37%LowCasinos and online sports bettingNASDAQ
$RDFN 0.5 04.01.27 · REDFIN CORP0.1%+133%LowOnline real-estate brokerage
$NEE · NEXTERA ENERGY INC0.0%+200%-4%LowUtility and renewable power generator (Florida)S&P
$POST · POST HOLDINGS INC0.0%+121%-12%LowPackaged foods and cereals
$HAE · HAEMONETICS CORP0.0%+178%+38%LowBlood and plasma management technology
$BTAI · BIOXCEL THERAPEUTICS INC0.0%+200%-34%LowNASDAQ
$CELC · CELCUITY INC0.0%+157%-23%LowTargeted-oncology drug developerNASDAQ
$GLAD · GLADSTONE CAPITAL CORP0.0%+655%+15%LowBusiness development company (lower middle-market)NASDAQ
$KRSP · RICE ACQUISITION CORP 30.0%+200%+2%LowA special-purpose acquisition company (SPAC) — a blank-check entity that raised capital through an IPO to merge with and take a private company public, focused on energy transition targets.
$MSTR 0.875 03.15.31 · STRATEGY INC0.0%+408%LowEnterprise analytics software and Bitcoin treasury (MicroStrategy)
$PSN · PARSONS CORP0.0%+433%+3%LowDefense and infrastructure engineering servicesCitrini
ALVOTECH SA0.0%+200%LowAlvotech is an Icelandic biopharmaceutical company that develops and manufactures biosimilar versions of branded biologic medicines for global markets.
$CAKE · CHEESECAKE FACTORY INC/THE0.0%+233%+57%LowCasual-dining restaurant chainNASDAQ
$BILL · BILL HOLDINGS INC0.0%+200%+17%LowSMB accounts-payable and spend software
$DOCN · DIGITALOCEAN HOLDINGS INC0.0%+376%+39%LowCloud computing for developers and SMBsCitrini
$HDB · HDFC BANK LTD0.0%+163%+6%LowIndia's largest private-sector bank, providing retail and wholesale banking, loans, deposits, payments and other financial services across India.

Top holdings now

Issuer% bookSince entryBusinessTags
$TRMD · TORM PLC10.5%+196% ≥Q2 '21TORM is a shipping company that owns and operates a fleet of product tankers transporting refined petroleum products such as gasoline, jet fuel and diesel worldwide.NASDAQ
$EXE · EXPAND ENERGY CORP8.9%+6% ≥Q4 '24Expand Energy, formed from the merger of Chesapeake Energy and Southwestern Energy, is one of the largest US natural gas producers, exploring for and producing natural gas from shale basins.NASDAQS&PCitrini
$NDQ · INVESCO QQQ TRUST SERIES 15.1%
$AU · ANGLOGOLD ASHANTI PLC4.9%+417% Q3 '23AngloGold Ashanti is a global gold mining company that explores for and produces gold from operations across Africa, the Americas, and Australia.
$GTX · GARRETT MOTION INC4.1%+298% Q2 '21Garrett Motion designs and manufactures turbochargers and related automotive technologies, including electric-boosting and software solutions, for passenger and commercial vehicles.NASDAQ
$CORZ · CORE SCIENTIFIC INC3.0%+17% Q3 '25Operates large-scale data centers for Bitcoin mining and high-performance computing, including hosting infrastructure for AI and blockchain workloads.NASDAQ
$XOP · STATE STREET SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF2.8%-6% Q1 '26
$TDS · TELEPHONE AND DATA SYSTEMS INC2.8%-13% Q3 '25Regional telecom and wireless (US Cellular)
$VNOM · VIPER ENERGY INC2.8%+16% Q3 '25Viper Energy owns oil and gas mineral and royalty interests, primarily in the Permian Basin, earning royalty income from production on land it holds.NASDAQ
$TLN · TALEN ENERGY CORP2.4%+109% Q3 '24Talen Energy is an independent power producer that owns and operates nuclear and natural-gas generation assets and supplies wholesale electricity, including to data centers.NASDAQ

Since entry / add = price change to the latest close (31-MAR-2026 book marked to market). Top holdings measure from the quarter-end when the name first entered the filer's disclosed top holdings (tagged e.g. Q1 '26); new & added positions measure from this quarter's quarter-end. Based on disclosed 13F snapshots — an approximation of entry, not the manager's actual cost basis. Generated 2026-07-20 · Alpha-Investor tracker