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Focused investors/Howard Marks

Howard Marks - Oaktree Capital Management

As of Q1 2026, this manager reported 50 long-equity positions worth $4.31B in aggregate.

It also disclosed $551.1M of put notional and $100.24M of call notional. Notional is the contracts’ face value, not the premium paid, so it is reported separately from the equity above — see the Options section below.

As of Q1 2026, Howard Marks's Oaktree Capital Management held 50 long-equity positions with a reported value of $4.31B.

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Sectors

This breakdown groups the manager’s latest reported 13F holdings by industry sector, so you can see where their conviction is concentrated and how diversified the portfolio is.

Energy: 37.3% ($1.61B)Basic Materials: 14.0% ($603.13M)Communication Services: 9.4% ($403.96M)Technology: 7.5% ($322.5M)Healthcare: 6.2% ($267.32M)Financial Services: 6.2% ($266.79M)Consumer Cyclical: 6.2% ($265.68M)Utilities: 4.6% ($196.95M)Consumer Defensive: 3.5% ($150.43M)Real Estate: 3.1% ($134.96M)Industrials: 1.9% ($82.16M)Unclassified: 0.1% ($4.08M)

Sector breakdown

  • Energy(6)37.3%
  • Basic Materials(8)14.0%
  • Communication Services(7)9.4%
  • Technology(6)7.5%
  • Healthcare(4)6.2%
  • Financial Services(7)6.2%
  • Consumer Cyclical(2)6.2%
  • Utilities(3)4.6%
  • Consumer Defensive(2)3.5%
  • Real Estate(2)3.1%
  • Industrials(2)1.9%
  • Unclassified(1)0.1%