HM
Howard Marks
Oaktree Capital Management
Credit / distressed value
Founder of Oaktree and author of The Most Important Thing. Master of distressed debt and credit investing; known for his market cycle memos.
Portfolio Map
Sized by portfolio weight · colored by quarter-over-quarter change · click ticker to view analysis
New position
Increased
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Sold / Closed
Unchanged
CALLBullish options bet
PUTBearish options bet
Sector Allocation
% of portfolio value by sector · current filing only
Other / Unclassified
84.41%
Energy
6.63%
Basic Materials
3.34%
Communication Services
2.71%
Financial Services
0.98%
Consumer Cyclical
0.89%
Industrials
0.39%
Consumer Defensive
0.34%
Technology
0.34%
Healthcare
0.02%
Full Portfolio · 2026-06-30
143 positions — click any ticker to open its analysis page
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Conviction Moves
Largest portfolio-weight changes this quarter · bar length = change in % of portfolio
New / Increased
Reduced
Closed
Quarter-over-Quarter Changes
2026-03-31 → 2026-06-30 · 50 positions moved
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