Howard Marks · Oaktree Capital Management LP
| Period: | Q3 2025 |
| Portfolio date: | Sep 30, 2025 |
| No. of stocks: | 164 |
| Portfolio value: | $6.5B |
Viewing historical Q3 2025 data. Holdings + moves reflect that quarter — not current.← Back to latest
| Stock | % of Portfolio | Recent Activity | Shares | Reported Price * | Value | Current Price | +/- Reported Price | 52 Week Low | 52 Week High |
|---|---|---|---|---|---|---|---|---|---|
| TRMD · Torm Plc | 12.86 | 40,581,120 | $20.57 | $834,580,551 | $33.92 | +64.93% | $15.79 | $34.88 | |
| EXE · Expand Energy Corporation | 8.29 | Reduce 0.00% | 5,062,363 | $106.24 | $537,825,445 | $95.92 | -9.72% | $91.02 | $126.62 |
| GTX · Garrett Motion Inc. | 6.69 | Reduce 13.55% | 31,894,816 | $13.62 | $434,407,393 | $29.00 | +112.92% | $9.57 | $29.18 |
| AU · Anglogold Ashanti Plc | 4.54 | Reduce 15.41% | 4,185,261 | $70.33 | $294,349,406 | $107.03 | +52.18% | $38.61 | $129.14 |
| VNOM · Viper Energy Inc. | 3.70 | New | 6,285,062 | $38.22 | $240,215,074 | $46.79 | +22.42% | $35.10 | $51.13 |
| 78462F103 · Spdr S&P 500 Etf Tr | 3.39 | Reduce 67.65% | 330,000 | $666.18 | $219,839,400 | — | — | — | — |
| TLN · Talen Energy Corp. | 2.33 | Add 82.78% | 356,117 | $425.38 | $151,485,049 | $386.37 | -9.17% | $232.34 | $451.28 |
| TDS · Telephone & Data Sys Inc. | 2.23 | New | 3,688,386 | $39.24 | $144,732,266 | $46.47 | +18.43% | $32.60 | $49.12 |
| ORCL · Oracle Corp. | 2.17 | New | 500,000 | $281.24 | $140,620,000 | $195.95 | -30.33% | $134.57 | $345.72 |
| STKL · Sunopta Inc. | 1.87 | 20,726,126 | $5.86 | $121,426,116 | $6.50 | +10.95% | $3.32 | $6.94 | |
| CORZ · Core Scientific Inc. New | 1.77 | New | 6,400,708 | $17.94 | $114,828,701 | $22.92 | +27.76% | $9.55 | $25.01 |
| 06849F108 · Barrick Mng Corp. | 1.67 | Add 4.57% | 3,302,086 | $32.77 | $108,209,358 | — | — | — | — |
| LBTYA · Liberty Global Ltd. | 1.51 | Add 4.13% | 8,551,191 | $11.46 | $97,996,648 | $12.15 | +6.02% | $9.03 | $13.52 |
| FTAI · Ftai Aviation Ltd. | 1.50 | New | 585,175 | $166.86 | $97,642,300 | $270.29 | +61.99% | $108.47 | $323.51 |
| CX · Cemex Sab De Cv | 1.45 | Reduce 29.59% | 10,448,824 | $8.99 | $93,934,927 | $13.11 | +45.83% | $6.40 | $13.67 |
| ITUB · Itau Unibanco Hldg S A | 1.43 | Add 15.10% | 12,665,801 | $7.34 | $92,966,986 | $8.37 | +14.03% | $5.93 | $9.60 |
| 124830878 · Cbl & Assoc Pptys Inc. | 1.42 | 3,005,126 | $30.58 | $91,896,783 | — | — | — | — | |
| NOK · Nokia Corp. | 1.39 | 18,752,229 | $4.81 | $90,198,221 | $12.82 | +166.53% | $4.00 | $13.98 | |
| TAC · Transalta Corp. | 1.35 | Add 5.42% | 6,415,253 | $13.66 | $87,648,382 | $12.76 | -6.61% | $8.73 | $17.88 |
| RWAY · Runway Growth Finance Corp. | 1.30 | Reduce 15.34% | 8,279,667 | $10.16 | $84,121,427 | $6.54 | -35.63% | $6.36 | $11.40 |
| KRC · Kilroy Rlty Corp. | 1.20 | 1,850,011 | $42.25 | $78,162,964 | $34.90 | -17.40% | $27.36 | $45.03 | |
| GRAB · Grab Holdings Limited | 1.12 | Add 4.54% | 12,094,495 | $6.02 | $72,808,859 | $3.72 | -38.21% | $3.48 | $6.62 |
| NU · Nu Hldgs Ltd. | 1.11 | New | 4,518,884 | $16.01 | $72,347,332 | $13.80 | -13.80% | $11.71 | $18.98 |
| JBLU · Jetblue Airways Corp. | 1.03 | Add 13.81% | 68,263,000 | $0.98 | $66,644,139 | $5.11 | +423.41% | $3.84 | $6.50 |
| VIST · Vista Energy S.A.B. De C.V. | 0.98 | Reduce 10.68% | 1,841,319 | $34.40 | $63,341,373 | $65.21 | +89.56% | $31.63 | $79.20 |
| FCX · Freeport-Mcmoran Inc. | 0.91 | Reduce 24.61% | 1,504,865 | $39.22 | $59,020,805 | $61.65 | +57.19% | $35.15 | $70.97 |
| CABO · Cable One Inc. | 0.88 | Add 13.38% | 58,746,000 | $0.98 | $57,365,743 | $62.39 | +6289.11% | $53.94 | $180.74 |
| LILA · Liberty Latin America Ltd. | 0.87 | Add 186.44% | 6,669,823 | $8.44 | $56,293,306 | $7.63 | -9.60% | $4.34 | $9.04 |
| 464287655 · Ishares Tr | 0.82 | Reduce 8.33% | 220,000 | $241.96 | $53,231,200 | — | — | — | — |
| YMM · Full Truck Alliance Co. Ltd. | 0.76 | Add 106.13% | 3,797,697 | $12.97 | $49,256,130 | $8.81 | -32.07% | $8.04 | $14.07 |
| BLCO · Bausch Plus Lomb Corp. | 0.75 | Add 28.72% | 3,245,439 | $15.07 | $48,908,765 | $16.18 | +7.37% | $10.99 | $18.91 |
| SATS · Echostar Corp. | 0.71 | New | 600,000 | $76.36 | $45,816,000 | $127.15 | +66.51% | $14.90 | $137.44 |
| MAR · Marriott Intl Inc. New | 0.60 | New | 150,000 | $260.44 | $39,066,000 | $353.18 | +35.61% | $253.56 | $380.00 |
| CNMD · Conmed Corp. | 0.60 | Add 46.23% | 40,513,000 | $0.95 | $38,649,661 | $36.76 | +3753.22% | $33.21 | $61.08 |
| ABNB · Airbnb Inc. | 0.59 | Add 8.41% | 39,353,000 | $0.98 | $38,565,940 | $141.49 | +14337.76% | $110.81 | $147.25 |
| BZ · Kanzhun Limited | 0.59 | Add 4.60% | 1,643,572 | $23.36 | $38,393,841 | $14.02 | -39.98% | $12.85 | $25.26 |
| XP · Xp Inc. | 0.59 | New | 2,032,877 | $18.79 | $38,197,758 | $19.17 | +2.02% | $15.61 | $23.13 |
| TDOC · Teladoc Health Inc. | 0.59 | Add 33.95% | 40,638,000 | $0.94 | $38,158,859 | $7.25 | +672.10% | $4.40 | $9.77 |
| 13057Q305 · California Res Corp. | 0.57 | Reduce 49.56% | 694,502 | $53.18 | $36,933,616 | — | — | — | — |
| SBLK · Star Bulk Carriers Corp. | 0.56 | Reduce 39.24% | 1,962,892 | $18.59 | $36,490,162 | $26.83 | +44.32% | $15.78 | $27.20 |
| AD · Array Digital Infrastructure | 0.56 | New | 724,444 | $50.01 | $36,229,444 | $55.77 | +11.52% | $44.03 | $79.17 |
| SE · Sea Ltd. | 0.55 | Add 23.14% | 37,028,000 | $0.96 | $35,554,285 | $86.73 | +8932.49% | $77.05 | $199.30 |
| ETSY · Etsy Inc. | 0.54 | Add 23.65% | 39,330,000 | $0.89 | $34,836,547 | $64.38 | +7168.42% | $44.00 | $76.52 |
| VAC · Marriott Vacations Worldwide | 0.53 | Add 38.71% | 35,832,000 | $0.96 | $34,244,642 | $77.12 | +7969.48% | $44.58 | $86.33 |
| TX · Ternium Sa | 0.48 | Reduce 2.41% | 897,509 | $34.73 | $31,170,487 | $46.92 | +35.10% | $27.12 | $49.69 |
| SRPT · Sarepta Therapeutics Inc. | 0.47 | Add 609.96% | 34,930,000 | $0.88 | $30,815,489 | — | — | — | — |
| NBR · Nabors Industries Ltd. | 0.46 | New | 737,112 | $40.87 | $30,125,767 | $97.40 | +138.32% | $23.27 | $105.80 |
| 866082AA8 · Summit Hotel Pptys | 0.45 | Reduce 3.33% | 29,441,000 | $0.98 | $28,984,664 | — | — | — | — |
| PEB · Pebblebrook Hotel Tr | 0.40 | Reduce 58.07% | 26,176,000 | $0.99 | $25,861,496 | $14.72 | +1389.90% | $8.69 | $14.85 |
| JD · Jd.Com Inc. | 0.40 | Add 92.85% | 23,821,000 | $1.08 | $25,655,217 | $30.13 | +2697.59% | $24.51 | $38.08 |
| SE · Sea Ltd. | 0.39 | Add 69.28% | 141,368 | $178.73 | $25,266,702 | $86.73 | -51.47% | $77.05 | $199.30 |
| ECVT · Ecovyst Inc. | 0.39 | New | 2,859,022 | $8.76 | $25,045,032 | $14.14 | +61.42% | $7.03 | $14.94 |
| ENPH · Enphase Energy Inc. | 0.38 | Add 93.98% | 28,622,000 | $0.87 | $24,860,834 | $36.45 | +4096.45% | $25.78 | $54.43 |
| ALRM · Alarm.Com Holdings Inc. | 0.38 | Reduce 0.76% | 24,757,000 | $0.99 | $24,484,673 | $47.60 | +4712.94% | $41.50 | $60.76 |
| OCSL · Oaktree Specialty Lending Co. | 0.37 | 1,852,456 | $13.05 | $24,174,550 | $12.15 | -6.90% | $10.63 | $14.77 | |
| NVST · Envista Holdings Corporation | 0.37 | Add 14.35% | 25,479,000 | $0.95 | $24,093,579 | $24.24 | +2463.38% | $16.41 | $30.42 |
| CBRL · Cracker Barrel Old Country Store Inc. | 0.37 | Add 149.68% | 24,773,000 | $0.96 | $23,800,659 | $31.49 | +3177.65% | $24.85 | $71.93 |
| JBS · Jbs N.V. | 0.36 | Add 562.34% | 1,580,400 | $14.93 | $23,595,371 | $16.11 | +7.90% | $12.37 | $18.65 |
| VALE · Vale S A | 0.34 | 2,033,706 | $10.86 | $22,086,047 | $16.63 | +53.13% | $8.97 | $17.94 | |
| AVAV · Aerovironment Inc. | 0.34 | New | 17,763,000 | $1.24 | $22,052,764 | $168.29 | +13455.38% | $159.64 | $417.86 |
| ARRY · Array Technologies Inc. | 0.33 | Add 282.89% | 24,689,000 | $0.87 | $21,467,508 | $8.57 | +885.60% | $5.39 | $12.23 |
| 472145AH4 · Jazz Investments I Ltd. | 0.31 | New | 16,700,000 | $1.19 | $19,856,300 | — | — | — | — |
| AG · First Majestic Silver Corp. | 0.30 | Reduce 12.00% | 18,133,000 | $1.09 | $19,679,744 | — | — | — | — |
| TEO · Telecom Argentina Sa | 0.29 | Reduce 0.56% | 2,629,483 | $7.27 | $19,116,341 | $11.82 | +62.59% | $6.43 | $13.81 |
| CMS · Cms Energy Corp. | 0.29 | Add 57.42% | 17,343,000 | $1.10 | $19,033,942 | $72.61 | +6515.95% | $67.71 | $80.36 |
| BMRN · Biomarin Pharmaceutical Inc. | 0.29 | Add 1231.47% | 19,719,000 | $0.95 | $18,742,909 | $54.06 | +5587.53% | $50.76 | $66.28 |
| MKSI · Mks Inc. | 0.28 | Add 39.38% | 16,705,000 | $1.10 | $18,333,737 | $313.21 | +28438.50% | $80.22 | $326.84 |
| OPTU · Optimum Communications Inc. | 0.28 | 7,500,000 | $2.41 | $18,075,000 | $1.13 | -53.11% | $1.11 | $2.98 | |
| 69352PAS2 · Ppl Cap Fdg Inc. | 0.28 | Add 38.24% | 15,733,000 | $1.14 | $17,978,885 | — | — | — | — |
| MGPI · Mgp Ingredients Inc. New | 0.26 | New | 17,275,000 | $0.96 | $16,554,739 | $19.70 | +1955.71% | $16.45 | $34.99 |
| OKTA · Okta Inc. | 0.25 | Add 263.02% | 16,906,000 | $0.98 | $16,491,373 | $83.90 | +8500.94% | $62.66 | $127.57 |
| COIN · Coinbase Global Inc. | 0.25 | Add 64.81% | 13,010,000 | $1.26 | $16,382,842 | $201.16 | +15874.59% | $139.36 | $444.65 |
| LIVN · Livanova Plc | 0.25 | Add 50.93% | 15,085,000 | $1.08 | $16,252,986 | $71.86 | +6569.59% | $41.02 | $72.51 |
| AMPH · Amphastar Pharmaceuticals In | 0.25 | New | 17,825,000 | $0.91 | $16,245,661 | $19.00 | +1984.71% | $17.03 | $31.26 |
| WEC · Wec Energy Group Inc. | 0.24 | Add 73.53% | 12,414,000 | $1.23 | $15,256,805 | $111.66 | +8985.44% | $100.61 | $119.62 |
| SPB · Spectrum Brands Inc. | 0.23 | New | 16,221,000 | $0.93 | $15,113,916 | $81.47 | +8643.76% | $49.99 | $86.96 |
| PSN · Parsons Corp. Del | 0.23 | Add 79.23% | 12,910,000 | $1.14 | $14,749,675 | $49.18 | +4204.60% | $48.80 | $89.50 |
| FOUR · Shift4 Pmts Inc. | 0.22 | Add 22.09% | 14,544,000 | $0.99 | $14,348,856 | — | — | — | — |
| SNAP · Snap Inc. | 0.21 | Reduce 47.89% | 15,339,000 | $0.89 | $13,697,727 | $6.08 | +580.85% | $3.81 | $10.41 |
| MTH · Meritage Homes Corp. | 0.20 | Add 108.90% | 12,695,000 | $1.03 | $13,056,327 | — | — | — | — |
| TTEK · Tetra Tech Inc. New | 0.20 | Add 70.83% | 11,905,000 | $1.08 | $12,902,043 | $30.29 | +2694.93% | $29.57 | $43.14 |
| DXCM · Dexcom Inc. | 0.20 | Reduce 19.54% | 12,963,000 | $0.99 | $12,875,499 | — | — | — | — |
| ALVO · Alvotech | 0.20 | 1,563,676 | $8.19 | $12,806,506 | $3.26 | -60.20% | $3.03 | $11.85 | |
| ENPH · Enphase Energy Inc. | 0.20 | Reduce 44.43% | 13,060,000 | $0.98 | $12,766,779 | $36.45 | +3628.72% | $25.78 | $54.43 |
| WING · Wingstop Inc. | 0.19 | New | 50,000 | $251.68 | $12,584,000 | $129.67 | -48.48% | $129.31 | $388.14 |
| FLR · Fluor Corp. | 0.19 | Add 108.96% | 10,471,000 | $1.19 | $12,450,019 | $43.31 | +3542.56% | $37.04 | $57.50 |
| GH · Guardant Health Inc. | 0.19 | Add 28.46% | 9,240,000 | $1.30 | $12,053,726 | — | — | — | — |
| SNAP · Snap Inc. | 0.18 | Add 548.20% | 12,977,000 | $0.92 | $12,003,623 | $6.08 | +557.30% | $3.81 | $10.41 |
| SHAK · Shake Shack Inc. | 0.17 | Add 32.82% | 11,716,000 | $0.95 | $11,152,167 | $70.14 | +7268.61% | $67.20 | $144.65 |
| UPST · Upstart Hldgs Inc. | 0.17 | Reduce 3.85% | 11,443,000 | $0.95 | $10,899,457 | $28.96 | +2940.42% | $23.96 | $87.30 |
| INDV · Indivior Plc | 0.16 | Add 2241.56% | 257,785,398 | $0.04 | $10,692,053 | $39.50 | +95134.50% | $10.63 | $41.00 |
| BBIO · Bridgebio Pharma Inc. | 0.16 | Reduce 40.42% | 10,757,000 | $0.99 | $10,630,605 | $67.39 | +6719.12% | $31.77 | $84.94 |
| SMRT · Smartrent Inc. | 0.16 | 7,505,294 | $1.41 | $10,582,465 | $1.12 | -20.57% | $0.72 | $2.20 | |
| TVTX · Travere Therapeutics Inc. | 0.16 | Add 19.02% | 9,213,000 | $1.13 | $10,432,987 | — | — | — | — |
| NBR · Nabors Inds Inc. | 0.15 | Add 97.43% | 12,833,000 | $0.77 | $9,881,410 | $97.40 | +12549.35% | $23.27 | $105.80 |
| XYZ · Block Inc. | 0.15 | Add 1848.25% | 10,014,000 | $0.97 | $9,761,146 | $74.85 | +7578.89% | $48.21 | $82.50 |
| EXE · Expand Energy Corp. | 0.14 | 95,294 | $96.71 | $9,215,892 | $95.92 | -0.82% | $91.02 | $126.62 | |
| 15677JAD0 · Dayforce Inc. | 0.14 | Reduce 48.11% | 9,382,000 | $0.98 | $9,192,014 | — | — | — | — |
| 405024AB6 · Haemonetics Corp. Mass | 0.14 | Add 105.06% | 9,246,000 | $0.98 | $9,084,206 | — | — | — | — |
| NEE · Nextera Energy Cap Hldgs Inc. | 0.14 | Add 5.98% | 7,568,000 | $1.18 | $8,956,727 | $93.10 | +7766.50% | $63.88 | $98.75 |
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held. Price columns + 52-week range are placeholders pending v2 price-data feed.
Sector % analysis
12 sectors represented
Whales with similar holdings to Howard Marks
Ranked by number of overlapping positions in current portfolios
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