Howard Marks · quarter digest
What Howard Marks did in Q4 2025
Oaktree Capital filed 40 moves in Q4 2025: 3 new, 17 add, 13 trim, 7 exit.
13F filed 2026-02-14. Manager quality score: q9. Philosophy: You can't predict, you can prepare. Second-level thinking.
New positions · 3
Fresh money
ONITYONITY GROUP INC
NEW·0.3% book·−8
ITRONITRON INC
NEW·0.1% book·−4
LYVLIVE NATION ENTERTAINMENT INC
NEW·0.1% book·−17
Adds · 17
Adding to conviction
ADD +8%·15.2% book·+14
“More Torm shipping.”
ADD +18%·12.8% book·+1
“Adding to Vistra — power demand from AI.”
ADD +15%·8.1% book·0
“Building Permian Resources.”
SPGSTATE STREET CORP
ADD +17%·3.7% book·−4
TLNTALEN ENERGY CORP
ADD +77%·3.4% book·−10
XPXP INC
ADD +63%·0.8% book·−4
ABNBAIRBNB INC
ADD +29%·0.7% book·−14
BMRNBIOMARIN PHARMACEUTICAL INC
ADD +114%·0.6% book·0
EQIXETSY INC
ADD +28%·0.6% book·−7
SNAPSNAP INC
ADD +21%·0.5% book·−13
BLOCKBLOCK INC
ADD +96%·0.4% book·−8
FIVE9FIVE9 INC
ADD +290%·0.4% book·−5
OKTAOKTA INC
ADD +67%·0.4% book·−6
BANDBANDWIDTH INC
ADD +58%·0.2% book·−12
UUNITY SOFTWARE INC
ADD +142%·0.1% book·−7
UPWKUPWORK INC
ADD +51%·0.1% book·−16
POSTPOST HOLDINGS INC
ADD +104%·0.0% book·−9
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Remove with Pro →Trims · 13
Taking chips off
TORMTORM PLC
TRIM -35%·7.5% book·−8
GTXGARRETT MOTION INC
TRIM -46%·4.2% book·−13
FCXFREEPORT-MCMORAN INC
TRIM -8%·1.0% book·−4
CXCEMEX SAB DE CV
TRIM -45%·0.9% book·−10
GRABGRAB HOLDINGS LTD
TRIM -7%·0.8% book·−16
LILAKLIBERTY LATIN AMERICA LTD
TRIM -12%·0.7% book·−12
JDJD.COM INC
TRIM -19%·0.3% book·+9
FLUORFLUOR CORP
TRIM -11%·0.2% book·−2
HDBHDFC BANK LTD
TRIM -14%·0.1% book·−16
MKSMKS INC
TRIM -63%·0.1% book·−9
SHAKSHAKE SHACK INC
TRIM -51%·0.1% book·−7
BBIOBRIDGEBIO PHARMA INC
TRIM -80%·0.0% book·−14
GHGUARDANT HEALTH INC
TRIM -96%·0.0% book·−9
Exits · 7
Closed positions
IVVISHARES RUSSELL 2000 ETF
EXIT·0.0% book·−19
JBSJBS NV
EXIT·0.0% book·−7
FOURSHIFT4 PAYMENTS INC
EXIT·0.0% book·+14
GUESSGUESS INC
EXIT·0.0% book·−11
WWAYFAIR INC
EXIT·0.0% book·−7
UBERUBER TECHNOLOGIES INC
EXIT·0.0% book·+16
Q2Q2 HOLDINGS INC
EXIT·0.0% book·−5
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.