Howard Marks's top holdings (April 2026) include TORM Plc (TRMD), a global shipping company specializing in the transportation of refined oil products.

Howard Marks is the co-founder and co-chairman of Oaktree Capital Management, a global asset management firm. He is known for his investment philosophy centered on understanding market cycles and identifying value in less efficient markets, particularly in distressed debt and credit. His approach emphasizes a deep understanding of risk.

TORM Plc (TRMD)

TORM Plc operates a large fleet of product tanker vessels, primarily engaged in the global transportation of refined petroleum products like gasoline, jet fuel, and naphtha. The company's operations span various trade routes, serving major oil companies and trading houses worldwide.

The company has a market capitalization of $2.8 billion, with Howard Marks's position currently valued at $737.26 million. Analysts have set a price target of $34.0 for the company, and its discounted cash flow analysis suggests a value of $53.55 per share.
Here's an overview of Howard Marks's trades in TORM Plc:

Chesapeake Energy Corp. (CHK)

Chesapeake Energy Corp. is a leading natural gas and oil exploration and production company. It focuses on the discovery and development of unconventional natural gas and oil fields across various basins in the United States, utilizing advanced drilling and completion techniques.

The company's market cap stands at $10.7 billion, while the current value of Howard Marks's holding is $412.38 million. Its discounted cash flow valuation is estimated at $214.92 per share.
Here's an overview of Howard Marks's trades in Chesapeake Energy Corp.:

Garrett Motion Inc (GTX)

Garrett Motion Inc. is a technology leader in the automotive industry, specializing in the design, manufacture, and sale of turbochargers and electric boosting technologies for light and commercial vehicles. The company provides solutions aimed at improving fuel efficiency and reducing emissions for a global customer base.

Garrett Motion has a market capitalization of $3.45 billion, with Howard Marks's position currently valued at $310.61 million. Analysts have set a price target of $21.0 for the company, and its discounted cash flow analysis indicates a value of $10.3 per share.
Here's an overview of Howard Marks's trades in Garrett Motion Inc:

Viper Energy Partners LP (VNOM)

Viper Energy Partners LP is a limited partnership engaged in owning, acquiring, and exploiting oil and natural gas mineral and royalty interests. The company primarily focuses on properties in the Permian Basin, one of the most prolific oil-producing regions in the United States.

The current value of Howard Marks's position in Viper Energy Partners LP is $295.34 million. The company's market capitalization is $17.94 billion. Analysts anticipate a price target of $51.6, while a discounted cash flow valuation suggests $84.22 per share.
Here's an overview of Howard Marks's trades in Viper Energy Partners LP:

Indivior Plc (INDV)

Indivior Plc is a global pharmaceutical company focused on developing and commercializing treatments for addiction and serious mental illnesses. The company's product pipeline includes innovative solutions aimed at addressing unmet needs in these therapeutic areas.

This holding in Howard Marks's portfolio is currently worth $216.67 million. Indivior Plc has a market capitalization of $3.61 billion. Analysts have established a price target of $44.67 for the stock.
Here's an overview of Howard Marks's trades in Indivior Plc: