Oaktree's Howard Marks Bets Big on Toys, Tech and Healthcare

by: The Business Insider

His hedge fund's latest 13F shows billionaire hedge fund manager Howard Marks didn't liquidate any of his investments last quarter -- a move that is somewhat surprising given his outspoken opinion of what the federal government is doing right now.

But although Oaktree Capital sold out of nothing completely, Marks did sell notable stakes in his high-tech stock, GT Solar (SOLR).

He also opened new stakes in five companies, including Molex (NASDAQ:MOLX), a cable tech company; Owens Corning (NYSE:OC), a company that supplies housing finishing products; Goldman Sachs (NYSE:GS); and toy manufacturer Jakks Pacific (NASDAQ:JAKK).

Although his biggest move this quarter looks like a huge new bet on Charter Communications (OTC:CHTRQ), a cable TV operator, Charter is actually just shifting ownership to Oaktree as part of a Chapter 11 restructuring that began last year.

(Marks' biggest moves, based on his latest 13F filing, are bolded in the following.)

• GT SOLAR INTL INC - ~$150 million (~ 26,000,000 shares)
• COGNIZANT TECHNOLOGY SOLUTIONS (NASDAQ:CTSH) - ~$5 million (~130,000 shares)

He opened stakes in:
• JAKKS PAC INC ~$11.5 million (655,000 shares)
• MOLEX INC - ~$29.3 million (1,400,000 shares)
• OWENS CORNING NEW - ~$21.3 million (830,000 shares)
• GOLDMAN SACHS GROUP INC - ~$14.5 million (100,000 shares)
• CHARTER COMMUNICATIONS INC - ~$641 million ( ~ 19,725, 000 shares) *see above

And bought more of:

• WARNER MUSIC GROUP CORP (NYSE:WMG) - ~$20 million (5,000,000 shares)
• BARRICK GOLD CORP (NYSE:ABX) - ~$6 million (~100,000 shares)
• ALLIANCE HEALTHCARE SRVCS INC (NYSE:AIQ) - ~$20 million (~1 million shares)

Disclosures: None.

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