Howard Marks acquired 11.1 Million Petroleo Brasileiro S.A. Petrobras - ADR shares worth $152 Million. That's 1.76% of their equity portfolio (12th largest holding). The first Petroleo Brasileiro S.A. Petrobras - ADR trade was made in Q3 2008. Since then Howard Marks bought shares 28 more times and sold shares on thirteen occasions. The stake costed the investor $121 Million, netting the investor a gain of 25% so far.