Billionaire value investor Howard Marks disclosed a new $60.9 million position in Sea Limited amid a 30% stock decline over the past year.
Oaktree Capital co-founder Howard Marks has acquired a $60.9 million stake in Sea Limited (SE), a Southeast Asian tech company whose stock has fallen 30% over the past year. The investment follows Sea’s recent earnings report, which showed a 48% year-over-year revenue increase and a $1 billion adjusted profit forecast for Shopee, its e-commerce arm.
Sea’s Shopee platform saw 49% revenue growth, with gross orders rising 28% and its high-margin ad business expanding over 70%. The fintech unit, Monee, reported a 59% revenue increase, with its loan book growing 62% and active credit users reaching 40 million. Garena, the gaming division, posted a 15% rise in bookings and 17% profit growth.
Marks, known for his value investing approach, has not commented on the specific rationale for the purchase, but the move aligns with his history of targeting undervalued assets with long-term potential.