Howard Marks
Howard Marks’s latest 13F equity portfolio (filed as Oaktree Capital Management), straight from the SEC filing on August 14, 2026. Positions are ranked by size; the ones Howard Marks opened or added to this quarter are flagged. This is what a 13F shows: reported long U.S. equity positions as of the quarter-end. It is not the full picture and it is not advice.
How Howard Marks invests
Derived from the 13F filing itself, not commentary.
- Moderately concentrated: the top 5 positions are 47% of the reported book.
- Largest position is TRMD at 13.9% of the book.
- Opened 10 new positions last quarter, the biggest being SEA LTD.
- Net seller among existing holdings: trimmed 9 and added to 3.
- Mixed by size: 40% of measurable value sits in $10B+ companies.
- 1
$TRMDTorm Plc$524M13.9% of book
- 2
$EXEExpand Energy Corp$478M12.6% of book
- 3
$GTXTrimmedGarrett Motion Inc$275M7.3% of book
- 4
$AUAnglogold Ashanti Plc$257M6.8% of book
- 5
$INDVIndivior Pharmaceuticals Inc$251M6.7% of book
- 6
$TDSTelephone and Data Systems Inc$196M5.2% of book
- 7
$VNOMViper Energy Inc$161M4.3% of book
- 8Core Scientific IncTrimmedCore Scientific Inc$128M3.4% of book
- 9
$TLNTalen Energy Corp$127M3.4% of book
- 10
$BBarrick Mining Corp$118M3.1% of book
- 11Itau Unibanco Holding SaItau Unibanco Holding Sa$98M2.6% of book
- 12
$LBTYALiberty Global Ltd$97M2.6% of book
- 13
$OCSLAdded +325%Oaktree Specialty Lending Corp$94M2.5% of book
- 14
$FCXFreeport-Mcmoran Inc$76M2.0% of book
- 15
$AEROGrupo Aeromexico Sab De Cv$71M1.9% of book
- 16
$KRCKilroy Realty Corp$69M1.8% of book
- 17Sea LtdNewSea Ltd$61M1.6% of book
- 18
$LILAAdded +31%Liberty Latin America Ltd$59M1.6% of book
- 19Bausch Lomb CorpBausch Lomb Corp$57M1.5% of book
- 20
$VSATNewViasat Inc$57M1.5% of book
- 21
$MMYTNewMakemytrip Ltd$52M1.4% of book
- 22
$MATWNewMatthews International Corp$52M1.4% of book
- 23
$XPXp Inc$51M1.3% of book
- 24Ypf SaYpf Sa$45M1.2% of book
- 25
$TACTrimmedTransalta Corp$41M1.1% of book
- 26
$RWAYRunway Growth Finance Corp$39M1.0% of book
- 27Embraer SaEmbraer Sa$28M0.7% of book
- 28
$ADArray Digital Infrastructure Inc$25M0.7% of book
- 29
$KRSPRice Acquisition Corp 3$25M0.7% of book
- 30
$SHAZTrimmedSharonai Holdings Inc$25M0.6% of book
- 31Ternium SaTernium Sa$24M0.6% of book
- 32
$QMCONewQuantum Corp$22M0.6% of book
- 33
$SMPLSimply Good Foods Co/the$16M0.4% of book
- 34
$SGRYNewSurgery Partners Inc$14M0.4% of book
- 35
$MINEMayfair Gold Corp$11M0.3% of book
- 36
$BMMBlue Moon Metals Inc$11M0.3% of book
- 37
$SMRTSmartrent Inc$9M0.2% of book
- 38
$MXTrimmedMagnachip Semiconductor Corp$7M0.2% of book
- 39
- 40
$BATLBattalion Oil Corp$4M0.1% of book
- 41
$DPCNewDpc Holdings Ltd$4M0.1% of book
- 42
$SVCNewService Properties Trust$3M0.1% of book
- 43
$BTAIAdded +472%Bioxcel Therapeutics Inc$2M0.1% of book
- 44
$NNBRNewNn Inc$2M0.0% of book
- 45
$TEOTrimmedTelecom Argentina Sa$2M0.0% of book
- 46
$CXTrimmedCemex Sab De Cv$1M0.0% of book
- 47Sunopta IncTrimmedSunopta Inc$406K0.0% of book
- 48
$ALVOTrimmedAlvotech Sa$362K0.0% of book
- 49
$OPINewOffice Properties Income Trust/Md$184K0.0% of book
Updated Sep 10, 12:33 AM. Sourced from SEC EDGAR 13F filings. Showing the top 49 positions by value.
Common questions about Howard Marks
What stocks does Howard Marks own?
Howard Marks reported 49 equity positions worth $3.8B in the latest 13F filed August 14, 2026. The largest by value are TRMD, EXE, GTX, AU, INDV, TDS, VNOM and CORE SCIENTIFIC INC. The full ranked list is on this page.
What is Howard Marks's biggest holding?
TRMD is the largest reported position at $524M, about 13.9% of the reported book, held as 20,329,874 shares.
What did Howard Marks buy recently?
Howard Marks opened 10 new positions in the latest quarter. The largest new buys were SEA LTD, VSAT, MMYT, MATW, QMCO and SGRY. Howard Marks also added to 3 existing positions, including OCSL, LILA and BTAI.
What did Howard Marks sell recently?
Howard Marks reduced 9 reported positions last quarter, the largest of them being GTX, CORE SCIENTIFIC INC, TAC, SHAZ and MX. Note that a position exited completely stops appearing in the 13F entirely, so full exits show up as a name disappearing rather than as a sale.
Is Howard Marks buying or selling right now?
Across the reported book, Howard Marks added to 3 positions and trimmed 9, which makes the latest quarter a net selling one. "Right now" is the important caveat: a 13F is a snapshot as of the quarter end, filed up to 45 days later, so it shows what was held then, not what is held today.
What fund does Howard Marks run?
The filings on this page come from Oaktree Capital Management (OAK), SEC CIK 949509. That is the entity that files the 13F, which is why holdings are reported under the firm name rather than the person's name.
Is this Howard Marks's current portfolio?
No. It is the most recent one that has been publicly filed. Institutional managers report holdings quarterly on Form 13F, as of the last day of the quarter, with up to 45 days to file. This page reflects the filing dated August 14, 2026 and updates automatically when the next one hits SEC EDGAR.
Does this show Howard Marks's short positions or options?
Mostly no. A 13F covers reported long U.S. exchange-traded equity positions and some equity options and convertibles. Short positions are not disclosed, and neither are bonds, cash, commodities, currencies, or foreign-listed holdings. A manager with a large short book or heavy non-equity exposure can look very different in a 13F than in reality.
How do I track Howard Marks's next moves?
This page rebuilds straight from SEC EDGAR, so the next 13F appears here as soon as it is filed. New stakes disclosed between quarters on Schedule 13D and 13G show up on the Smart Money page ahead of the next 13F, because those filings are due within days of crossing a 5% ownership threshold rather than at quarter end.