Howard Marks's top dividend stocks (September 2025) include Runway Growth Finance Corp (RWAY), a company providing debt capital to growth-stage companies.

Howard Marks is a prominent investor and co-chairman of Oaktree Capital Management, a leading global investment firm specializing in alternative investments. His investment philosophy centers on understanding market cycles and making contrarian investments, particularly in credit and distressed assets.

Runway Growth Finance Corp (RWAY)

Runway Growth Finance Corp specializes in providing debt capital to fast-growing, venture-backed companies across various sectors. They offer flexible financing solutions to support innovation and expansion without requiring companies to give up significant equity.

Howard Marks's current portfolio position in Runway Growth Finance Corp is valued at $106.5 million. The company currently boasts an impressive dividend yield of approximately 17.81%, with a trailing twelve-month dividend rate of $1.80 per share. Analysts have set a price target of $9.50 for the stock.

Here's an overview of Howard Marks's trades in Runway Growth Finance Corp:

Ecopetrol SA - ADR (EC)

Ecopetrol SA is Colombia's largest integrated oil company, involved in the exploration, production, refining, and transportation of crude oil and natural gas. It plays a significant role in the energy sector across Latin America, with operations extending beyond Colombia.

The current value of the position in Howard Marks's portfolio for Ecopetrol SA - ADR stands at $33.37 million. This oil and gas giant offers a dividend yield of around 16.60%, alongside a trailing twelve-month dividend rate of $0.52 per share. A discounted cash flow analysis suggests a value of $4.47.

Here's an overview of Howard Marks's trades in Ecopetrol SA - ADR:

Oaktree Specialty Lending Corp (OCSL)

Oaktree Specialty Lending Corp operates as a business development company (BDC), focusing on providing financing solutions to middle-market companies. It offers a range of debt capital, including first lien, second lien, and mezzanine debt, supporting growth and recapitalization efforts.

Howard Marks holds a position in Oaktree Specialty Lending Corp currently valued at $25.93 million. Shareholders are currently enjoying a dividend yield of approximately 14.21%. The company has distributed a trailing twelve-month dividend rate of $1.99 per share. Its discounted cash flow value is reported at -$9.39.

Here's an overview of Howard Marks's trades in Oaktree Specialty Lending Corp:

Torm Plc - Ordinary Shares - Class A (TRMD)

TORM Plc is a leading pure-play product tanker company, engaged in the seaborne transportation of refined oil products such as gasoline, jet fuel, and naphtha. With a large fleet of modern vessels, TORM serves major oil companies and trading houses globally.

Howard Marks's portfolio currently holds TORM Plc shares valued at a substantial $882.64 million. The company currently yields about 12.12% in dividends. Over the last twelve months, its dividend rate has been $2.60 per share. Analysts have assigned a price target of $23.00, and its discounted cash flow is $58.97.

Here's an overview of Howard Marks's trades in Torm Plc - Ordinary Shares - Class A:

CBL & Associates Properties, Inc. - Ordinary Shares - New (CBL)

CBL & Associates Properties, Inc. is a real estate investment trust (REIT) primarily focused on owning and managing a portfolio of retail properties, including enclosed malls and open-air centers. The company operates across numerous states, serving various communities with shopping and dining destinations.

The current value of the position in Howard Marks's portfolio for CBL & Associates Properties, Inc. is $95.71 million. This REIT delivers an approximate dividend yield of 8.79%, with a trailing twelve-month dividend rate standing at $2.40. The discounted cash flow value for CBL is -$7.06.

Here's an overview of Howard Marks's trades in CBL & Associates Properties, Inc. - Ordinary Shares - New: