Howard Marks · quarter digest
What Howard Marks did in Q1 2025
Oaktree Capital filed 47 moves in Q1 2025: 8 new, 18 add, 14 trim, 7 exit.
13F filed 2025-05-15. Manager quality score: q9. Philosophy: You can't predict, you can prepare. Second-level thinking.
New positions · 8
Fresh money
NEW·7.8% book·+1
“Howard Marks's first Vistra position — same quarter as Klarman.”
GRABGRAB HOLDINGS LTD
NEW·0.9% book·−16
KEKE HOLDINGS INC
NEW·0.5% book·−7
BAIDUBAIDU INC
NEW·0.4% book·+2
SHOPSHOPIFY INC
NEW·0.1% book·−5
GUESSGUESS INC
NEW·0.0% book·−11
LYFTLYFT INC
NEW·0.0% book·−17
NICENICE LTD
NEW·0.0% book·−6
Adds · 18
Adding to conviction
SPGSTATE STREET CORP
ADD +6%·3.7% book·−4
CXCEMEX SAB DE CV
ADD +33%·2.1% book·−10
SEASEA LTD
ADD +109%·2.0% book·+1
FCXFREEPORT-MCMORAN INC
ADD +24%·1.6% book·−4
ABNBAIRBNB INC
ADD +1538%·0.5% book·−14
EQIXETSY INC
ADD +47%·0.4% book·−7
SNAPSNAP INC
ADD +158%·0.4% book·−13
BBIOBRIDGEBIO PHARMA INC
ADD +305%·0.3% book·−14
TDOCTELADOC HEALTH INC
ADD +103%·0.3% book·−6
BLOCKBLOCK INC
ADD +107%·0.2% book·−8
PPLPPL CORP
ADD +30%·0.2% book·−9
SHAKSHAKE SHACK INC
ADD +35%·0.2% book·−7
FOURSHIFT4 PAYMENTS INC
ADD +21%·0.2% book·+14
FIVE9FIVE9 INC
ADD +751%·0.1% book·−5
FLUORFLUOR CORP
ADD +25%·0.1% book·−2
OKTAOKTA INC
ADD +49%·0.1% book·−6
ONON SEMICONDUCTOR CORP
ADD +366%·0.1% book·−16
UUNITY SOFTWARE INC
ADD +24%·0.1% book·−7
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Remove with Pro →Trims · 14
Taking chips off
CHKEXPAND ENERGY CORP
TRIM -20%·12.0% book·−5
TLNTALEN ENERGY CORP
TRIM -6%·2.3% book·−10
LBTYKLIBERTY GLOBAL LTD
TRIM -6%·1.6% book·−8
VALEVALE SA
TRIM -16%·1.2% book·−11
CABOCABLE ONE INC
TRIM -8%·0.8% book·−6
JDJD.COM INC
TRIM -32%·0.8% book·+9
PBRPETROLEO BRASILEIRO SA
TRIM -21%·0.7% book·−4
GHGUARDANT HEALTH INC
TRIM -22%·0.5% book·−9
PDDPG&E CORP
TRIM -60%·0.1% book·−16
UBERUBER TECHNOLOGIES INC
TRIM -70%·0.1% book·+16
WWAYFAIR INC
TRIM -20%·0.1% book·−7
BANDBANDWIDTH INC
TRIM -42%·0.0% book·−12
LSXMALIBERTY MEDIA CORP-LIBERTY FORMULA ONE
TRIM -91%·0.0% book·−16
UPWKUPWORK INC
TRIM -35%·0.0% book·−16
Exits · 7
Closed positions
YUMCYUM CHINA HOLDINGS INC
EXIT·0.0% book·−6
CHEGGCHEGG INC
EXIT·0.0% book·−9
CPNGCOUPANG INC
EXIT·0.0% book·+4
INSMINSMED INC
EXIT·0.0% book·−2
MARAMARA HOLDINGS INC
EXIT·0.0% book·−5
NIONIO INC
EXIT·0.0% book·−7
8X88X8 INC
EXIT·0.0% book·−1
Current top holdings
Howard Marks’s book, latest snapshot
Other quarters for Howard Marks
Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.