Howard Marks's PBR Position Overview
Howard Marks (via Oaktree Capital Management Lp) currently holds 6.09 M shares of Petróleo Brasileiro S.A. - Petrobras (PBR) worth $126.36 M, representing 2.01% of the portfolio. First purchased in 2012-Q2, this long-term strategic position has been held for 45 quarters.
Based on 13F filings since 2013, Howard Marks has maintained a long-term strategic position in PBR, representing a significant commitment to this investment thesis. Largest addition occurred in Q1 2026, adding 6.09 M shares. Largest reduction occurred in Q3 2015, reducing 7.56 M shares.
Analysis based on 13F filings available since 2013 Q2
Howard Marks's Petróleo Brasileiro SA - Petrobras (PBR) Holding Value Over Time
Track share changes against reported price movement
Quarterly Petróleo Brasileiro SA - Petrobras (PBR) Trades by Howard Marks
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q1 2026 | +6.09 M | New Buy | 6.09 M | $20.75 |
| Q2 2025 | -2.66 M | Sold Out | 0 | $0.00 |
| Q1 2025 | -693,232 | Reduce 20.68% | 2.66 M | $14.34 |
| Q4 2024 | -716,548 | Reduce 17.61% | 3.35 M | $12.86 |
| Q3 2024 | -437,181 | Reduce 9.70% | 4.07 M | $14.41 |
| Q2 2024 | -593,056 | Reduce 11.63% | 4.51 M | $14.49 |
| Q1 2024 | +332,904 | Add 6.98% | 5.1 M | $15.21 |
| Q4 2023 | -1.44 M | Reduce 23.25% | 4.77 M | $15.97 |
| Q3 2023 | -1.66 M | Reduce 21.05% | 6.21 M | $14.99 |
| Q2 2023 | -196,137 | Reduce 2.43% | 7.87 M | $13.83 |
| Q1 2023 | +356,584 | Add 4.63% | 8.06 M | $10.43 |
| Q4 2022 | +928,378 | Add 13.70% | 7.71 M | $10.65 |
| Q3 2022 | -4.32 M | Reduce 38.92% | 6.78 M | $12.34 |
| Q2 2022 | +2.13 M | Add 23.82% | 11.1 M | $11.68 |
| Q1 2022 | +119,820 | Add 1.36% | 8.96 M | $14.80 |
| Q4 2021 | +42,207 | Add 0.48% | 8.84 M | $10.98 |
| Q3 2021 | +326,265 | Add 3.85% | 8.8 M | $10.34 |
| Q2 2021 | -1.07 M | Reduce 11.25% | 8.47 M | $12.23 |
| Q1 2021 | +3.24 M | Add 51.30% | 9.55 M | $8.48 |
| Q4 2020 | +2.25 M | Add 55.53% | 6.31 M | $11.23 |
| Q3 2020 | -52,807 | Reduce 1.28% | 4.06 M | $7.12 |
| Q2 2020 | +382,573 | Add 10.26% | 4.11 M | $8.27 |
| Q1 2020 | +3.73 M | New Buy | 3.73 M | $5.50 |
| Q4 2019 | -2.14 M | Sold Out | 0 | $0.00 |
| Q3 2019 | -56,727 | Reduce 2.58% | 2.14 M | $14.47 |
| Q2 2019 | +2.2 M | New Buy | 2.2 M | $15.57 |
| Q2 2018 | -233,980 | Sold Out | 0 | $0.00 |
| Q1 2018 | -12,181 | Reduce 4.95% | 233,980 | $14.14 |
| Q2 2017 | +246,161 | New Buy | 246,161 | $7.99 |
| Q3 2015 | -7.56 M | Sold Out | 0 | $0.00 |
| Q2 2015 | +92,900 | Add 1.24% | 7.56 M | $9.05 |
| Q1 2015 | +916,411 | Add 13.99% | 7.47 M | $6.01 |
| Q4 2014 | +242,854 | Add 3.85% | 6.55 M | $7.30 |
| Q3 2014 | +761,800 | Add 13.74% | 6.31 M | $14.19 |
| Q2 2014 | +1.56 M | Add 39.24% | 5.54 M | $14.63 |
| Q1 2014 | +857,614 | Add 27.45% | 3.98 M | $13.15 |
| Q4 2013 | +2.47 M | Add 374.18% | 3.12 M | $13.78 |
| Q3 2013 | +61,030 | Add 10.21% | 658,860 | $15.49 |
| Q2 2013 | +281,975 | Add 89.27% | 597,830 | $13.41 |
| Q4 2012 | +10,859 | Add 3.56% | 315,855 | $19.47 |
| Q3 2012 | +124,867 | Add 69.32% | 304,996 | $22.93 |
| Q2 2012 | +180,129 | New Buy | 180,129 | $19.07 |
Howard Marks's Petróleo Brasileiro SA - Petrobras Investment FAQs
Howard Marks first purchased Petróleo Brasileiro S.A. - Petrobras (PBR) in Q2 2012, acquiring 180,129 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Howard Marks has held Petróleo Brasileiro S.A. - Petrobras (PBR) for 45 quarters since Q2 2012.
Howard Marks's largest addition to Petróleo Brasileiro S.A. - Petrobras (PBR) was in Q1 2026, adding 6,089,413 shares worth $126.36 M.
According to the latest 13F filing for Q1 2026, Howard Marks's firm, Oaktree Capital Management Lp, owns 6,089,413 shares of Petróleo Brasileiro S.A. - Petrobras (PBR), valued at approximately $126.36 M.
As of the Q1 2026 filing, Petróleo Brasileiro S.A. - Petrobras (PBR) represents approximately 2.01% of Howard Marks's publicly disclosed stock portfolio, making it one of their key holdings.
Howard Marks's peak holding in Petróleo Brasileiro S.A. - Petrobras (PBR) was 11,097,068 shares, as reported at the end of Q2 2022.