The third quarter portfolio of Oaktree Capital, led by chairman Howard Marks
, lists 77 stocks, 9 of them new, and a total value at $5.2 billion. The quarter-over-quarter turnover is 9%. The portfolio is weighted with financial services at 8.6%, energy at 6% and consumer cyclical at 3.9%. Guru Howard Marks
has averaged a return of 8.1% over 12 months.
Here are trade details on four of Oaktree’s major sells, as of Sept. 30, 2013, starting with First BanCorp (FBP
). Guru Howard Marks
holds 20.22% of shares outstanding in this regional bank that serves Puerto Rico and the Virgin Islands. In its 65th
year, First BanCorp reported financial results for the third quarter of 2013, with a net income of $15.9 million, versus a net loss of $122.6 million in the same quarter a year ago. For the third quarter of 2013, the bank reported adjusted net income of $19.3 million and earnings of $0.09 per diluted share. Continue Reading »