Howard Marks Holdings 13F: Latest Oaktree Capital Management Portfolio Changes
Oaktree Capital Management. Distressed debt pioneer. Howard Marks is famous for his highly anticipated memos detailing market cycles and risk management. Oaktree specializes in credit, distressed debt, and contrarian value investing.
As of the latest Q1 2026 13F filing, Howard Marks (managing Oaktree Capital Management) reported a public portfolio value of $6.8B with 148 positions. This page tracks latest holdings, latest 13F changes, top buys, top sells, and top holdings from the public filing. The top recent buy was EXE. The top recent sell was TRMD.
Open interactive portfolioLatest 13F portfolio changes
Howard Marks holdings 13F summary: the latest Oaktree Capital Management portfolio changes show top holdings including TORM, EXPAND ENERGY, ANGLOGOLD ASHANTI, GARRETT MOTION, and Indivior Pharmaceuticals, reported top buys such as EXPAND ENERGY, Indivior Pharmaceuticals, INDIVIOR PHARMACEUTICALS, and TELEPHONE AND DATA SYSTEMS, and top sells or reductions such as TORM, ANGLOGOLD ASHANTI, GARRETT MOTION, and Indivior Pharmaceuticals.
Latest filing metadata: quarter Q1 2026; report date 2026-03-31; filing date 2026-05-20; disclosure source SEC 13F.
Howard Marks 13F portfolio and latest holdings overview
Howard Marks's Q1 2026 13F holdings show Oaktree Capital Management reporting 148 positions with a disclosed portfolio value of $6.8B. For readers searching Howard Marks 13F holdings, Howard Marks portfolio, Oaktree Capital Management holdings, or latest 13F changes, the latest top holdings include TORM, EXPAND ENERGY, ANGLOGOLD ASHANTI, GARRETT MOTION, and Indivior Pharmaceuticals.
The three largest reported positions add up to roughly 25.6%, which helps readers judge portfolio concentration rather than just headline AUM. The largest reported sector exposure is Other at 34.6% of the disclosed portfolio. This makes the page useful for comparing the manager's actual disclosed exposure with market narratives around the same names.
The latest change data highlights reported buys such as EXPAND ENERGY, Indivior Pharmaceuticals, INDIVIOR PHARMACEUTICALS, TELEPHONE AND DATA SYSTEMS, and CORE SCIENTIFIC and reported reductions or exits such as TORM, ANGLOGOLD ASHANTI, GARRETT MOTION, Indivior Pharmaceuticals, and VIPER ENERGY. Those changes should be read as historical disclosure signals, not as real-time trade alerts.
The filing metadata lists report date 2026-03-31, filing date 2026-05-20, SEC accession 0000949509-26-000004. SEC 13F reports are normally published up to 45 days after quarter end, so the data is best used to understand institutional positioning after the fact rather than to infer today's exact portfolio.
Howard Marks portfolio analytics
the top five positions account for 34.0% of disclosed value; the largest sector exposure is Energy at 29.5%; reported buy and sell activity implies roughly 93.6% turnover this period; cost-basis P&L across 51 tracked positions averages 105.3% (22/34 currently in profit).
Top reported holdings
| Holding | Reported value | Weight | Quarter change |
|---|---|---|---|
| TRMD whale holders TORM PLC | $675.1M | 11.0% | Reduced |
| EXE whale holders EXPAND ENERGY CORP | $575.0M | 9.4% | Increased |
| AU whale holders ANGLOGOLD ASHANTI PLC | $313.8M | 5.1% | Reduced |
| GTX whale holders GARRETT MOTION INC | $265.2M | 4.3% | Reduced |
| ASRT whale holders Indivior Pharmaceuticals Inc | $212.9M | 3.5% | New |
| INDV whale holders INDIVIOR PHARMACEUTICALS INC | $212.9M | 3.5% | New |
| TDS-PV whale holders TELEPHONE AND DATA SYSTEMS INC | $180.7M | 3.0% | Increased |
| VNOM whale holders VIPER ENERGY INC | $178.2M | 2.9% | Reduced |
| CORZZ whale holders CORE SCIENTIFIC INC | $139.9M | 2.3% | Increased |
| STKL whale holders SUNOPTA INC | $134.2M | 2.2% | Held |
Top buys
- EXE whale holders — EXPAND ENERGY CORP ($575.0M)
- ASRT whale holders — Indivior Pharmaceuticals Inc ($212.9M)
- INDV whale holders — INDIVIOR PHARMACEUTICALS INC ($212.9M)
- TDS-PV whale holders — TELEPHONE AND DATA SYSTEMS INC ($180.7M)
- CORZZ whale holders — CORE SCIENTIFIC INC ($139.9M)
- PBR whale holders — PETROLEO BRASILEIRO SA - PETROBRAS ($126.4M)
Top sells
- TRMD whale holders — TORM PLC ($675.1M)
- AU whale holders — ANGLOGOLD ASHANTI PLC ($313.8M)
- GTX whale holders — GARRETT MOTION INC ($265.2M)
- INDV whale holders — Indivior Pharmaceuticals Inc ($255.1M)
- VNOM whale holders — VIPER ENERGY INC ($178.2M)
- GOLD whale holders — BARRICK MINING CORP ($107.1M)
Allocation
- Other: 34.6%
- Energy: 29.5%
- Information Technology: 10.1%
- Health Care: 9.1%
- Communication Services: 4.2%
- Financials: 2.7%
- Materials: 2.5%
- Digital Assets: 2.3%
Data notes
Report date: 2026-03-31
Disclosure source: SEC 13F
SEC 13F filings are delayed public disclosures and do not include every asset class, short positions, or real-time trades.
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Frequently asked questions
Howard Marks 13F Holdings
The Q1 2026 13F profile for Howard Marks and Oaktree Capital Management shows 148 reported positions, $6.8B in disclosed portfolio value, and top holdings including TORM, EXPAND ENERGY, ANGLOGOLD ASHANTI, GARRETT MOTION, and Indivior Pharmaceuticals.
What is Howard Marks buying? Latest 13F changes
The latest tracked change data for Howard Marks highlights reported buys such as EXPAND ENERGY, Indivior Pharmaceuticals, INDIVIOR PHARMACEUTICALS, and TELEPHONE AND DATA SYSTEMS and reported sells or reductions such as TORM, ANGLOGOLD ASHANTI, GARRETT MOTION, and Indivior Pharmaceuticals.
Oaktree Capital Management top holdings
Oaktree Capital Management top holdings are summarized from public disclosures with reported values, weights, portfolio concentration, top buys, top sells, and filing metadata where available.
Howard Marks buys and sells
Use the top buys and top sells sections above to compare Howard Marks's reported additions, reductions, exits, and latest portfolio activity against other tracked investors.
How delayed is Howard Marks's 13F data?
SEC Form 13F requires institutional investment managers with $100M+ in US equities to disclose their holdings quarterly. Read our comprehensive 13F guide for timing, coverage, and limitations. Read the Whale Analyzer 13F guide.