霍华德·马克斯
Howard Marks
橡树资本联合创始人，以投资备忘录闻名。专注不良债务和信用投资，擅长在周期底部建仓。
持仓数量
38
管理规模
$189B
做多
17
做空/对冲
11
组合收益
组合收益说明：收益涨幅基于假设虚拟净值计算。收益涨幅 = (最新虚拟净值 - X周期前虚拟净值) / X周期前虚拟净值 × 100%。组合虚拟净值 = 成份标的的虚拟持仓净值之和。成份标的虚拟持仓净值 = 成份标的持有份额 × 前复权收盘价格。加权回报率基于 SEC 13F 披露的加权平均成本价 vs 当前市价，按持仓占比加权。数据每个交易日盘后更新。组合调仓（季度 13F 披露）时重新计算份额。收益涨幅仅供参考，不代表对未来收益的预测与保证，也不构成任何投资建议。
🏆 最赚钱持仓
📉 做空/对冲仓位
🔔 重要信号2026年第2季度
持仓分布2026年第2季度
完整持仓
共 38 个持仓，此处按组合权重显示前 28 个
| # | 方向 | 股票 | 类型 | 买入均价 | 当前价 | 收益率 | 占比 % | |
|---|---|---|---|---|---|---|---|---|
| 1 | 🟢 | TRIPLE FLAG PRECIOUS METALS | Share | $11.59 | $29.33 | +182.4% | 27.9% | 持平 |
| 2 | 🟢 | PHILLIPS 66 | Share | $120.15 | $275.04 | +101.7% | 22.8% | 加仓 |
| 3 | 🟢 | SUNCOR ENERGY | Share | $33.64 | $75.42 | +100.6% | 11.1% | 减仓 |
| 4 | 🟢 | HEWLETT PACKARD ENTERPRISE | Share | $21.80 | $51.19 | +143.7% | 10.2% | 加仓 |
| 5 | 🟢 | SOUTHWEST AIRLINES | Share | $27.69 | $43.01 | +49.6% | 8.8% | 减仓 |
| 6 | 🟢 | UNITI GROUP | Share | $6.45 | $4.94 | +60.2% | 4.7% | 加仓 |
| 7 | 🟢 | Share | $22.57 | $20.15 | +3.6% | 4.1% | 持平 | |
| 8 | 🟢 | ETSY | Share | $66.65 | $89.00 | +20.7% | 2.6% | 持平 |
| 9 | 🟢 | NORWEGIAN CRUISE LINE | Share | $21.45 | $17.34 | -19.2% | 2.2% | 加仓 |
| 10 | 🟢 | PEPSICO | Share | $142.61 | $140.12 | -0.0% | 1.2% | 加仓 |
| 11 | 🟢 | SEADRILL | Share | $36.97 | $47.98 | +25.1% | 1.2% | 加仓 |
| 12 | 🟢 | EQUINIX | Share | $890.00 | $993.69 | +21.0% | 1.1% | 加仓 |
| 13 | 🟢 | SYNOPSYS | Share | $470.31 | $401.24 | -14.7% | 0.7% | 持平 |
| 14 | 🟢 | OSISKO GOLD ROYALTIES | Share | $27.26 | $36.42 | +28.0% | 0.7% | 加仓 |
| 15 | 🟢 | TRANSOCEAN | Share | $5.67 | $7.04 | +3.0% | 0.5% | 加仓 |
| 16 | 🟢 | HDFC BANK | Share | $31.57 | $23.16 | -26.6% | 0.1% | 加仓 |
| 17 | 🟢 | Quantinuum Inc. Class A | Share | $64.47 | $60.28 | -13.1% | 0.1% | 持平 |
| 18 | 🔴 | INVESCO QQQ | Put | — | $716.08 | — | — | 加仓 |
| 19 | 🔴 | ISHARES EXPANDED TECH-SOFTWARE SECTOR ETF | Put | — | $102.81 | — | — | 加仓 |
| 20 | 🔴 | INDUSTRIAL SELECT SECTOR SPDR FUND | Put | — | $181.95 | — | — | 减仓 |
| 21 | 🔴 | CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND | Put | — | $118.59 | — | — | 加仓 |
| 22 | 🔴 | CONSUMER STAPLES SELECT SECTOR SPDR FUND | Put | — | $86.54 | — | — | 加仓 |
| 23 | 🔴 | VANECK GOLD MINERS ETF | Put | — | $97.33 | — | — | 加仓 |
| 24 | 🔴 | ISHARES US MEDICAL DEVICES ETF | Put | — | $56.64 | — | — | 持平 |
| 25 | 🔴 | VANECK SEMICONDUCTOR ETF | Put | — | $560.92 | — | — | 加仓 |
| 26 | 🔴 | SPDR(R) S&P(R) METALS & MINING ETF | Put | — | $117.07 | — | — | 减仓 |
| 27 | 🔴 | GUGGENHEIM S&P 500(R) EQUAL WEIGHT ETF | Put | — | $222.07 | — | — | 持平 |
| 28 | 🔴 | ISHARES RUSSELL 2000 ETF | Put | — | $301.72 | — | — | 减仓 |
期权持仓说明：期权市值为名义敞口（合约数 × 100 × 标的价格），非实际投入资金，不参与投资组合占比计算。
持仓变动2026年第2季度
| 股票 | 类型 | 股数变动 | 变动比例 | 当前市值 | 占比 |
|---|---|---|---|---|---|
| 减仓 | -7K | -0.0% | $4.0B | 27.9% | |
| 增仓 | +31K | +770.0% | $2.6B | - | |
| 减仓 | -23.2M | -44.1% | $1.6B | 11.1% | |
| 增仓 | +4.9M | +17.7% | $1.5B | 10.2% | |
| 建仓 | +158K | 新建 | $1.4B | - | |
| 减仓 | -6.0M | -19.9% | $1.2B | 8.8% | |
| 减仓 | -23K | -31.0% | $958.6M | - | |
| 增仓 | +28K | +65.1% | $832.7M | - | |
| 增仓 | +5K | +5.3% | $799.5M | - | |
| 增仓 | +55K | +150.7% | $690.4M | - | |
| 建仓 | +139K | 新建 | $686.8M | - | |
| 增仓 | +1.5M | +11.4% | $310.0M | 2.2% | |
| 减仓 | -279K | -5.9% | $167.9M | 1.2% | |
| 建仓 | +3K | 新建 | $164.0M | - | |
| 建仓 | +228K | 新建 | $101.5M | 0.7% | |
| 建仓 | +4K | 新建 | $84.0M | - | |
| 减仓 | -3K | -50.0% | $75.1M | - | |
| 建仓 | +150K | 新建 | $12.3M | 0.1% | |
| 清仓 | -1.2M | 清仓 | - | - | |
| 清仓 | -660K | 清仓 | - | - | |
| 清仓 | -50K | 清仓 | - | - | |
| 清仓 | -15K | 清仓 | - | - | |
| 清仓 | -10K | 清仓 | - | - | |
| 清仓 | -8K | 清仓 | - | - | |
| 清仓 | -15.0M | 清仓 | - | - | |
| 清仓 | -2K | 清仓 | - | - | |
| 清仓 | -1K | 清仓 | - | - | |
| 清仓 | -10.0M | 清仓 | - | - |