Howard Marks – Oaktree Capital Management Options Positions & Derivatives (Jun 30, 2025)
As of Jun 30, 2025, the Oaktree Capital Management portfolio disclosed options positions in its latest SEC 13F filing reported on Aug 13, 2025. These filings include call and put options tied to underlying equity holdings, providing a deeper look at the fund's use of derivatives for exposure and hedging.
The reported options activity included 19 call contracts and 79 put contracts across companies such as iShares Russell 2000 ETF (IWM), SPDR S&P 500 (SPY), Talen Energy (TLN). Options positions can signal strategies around hedging risk, enhancing leverage, or adjusting portfolio exposure during market shifts.
Oaktree Capital Management Options Activity
| Date | Symbol | Option | Quantity |
|---|---|---|---|
| Q2 2025 | IWM iShares Russell 2000 ETF | PUT | 240,000 |
| Q2 2025 | SPY SPDR S&P 500 | PUT | 1,020,000 |
| Q2 2025 | TLN Talen Energy | CALL | 65,000 |
| Q2 2025 | XHB SPDR Series Trust SPDR Homebuil | PUT | 690,000 |
| Q1 2025 | SPY SPDR S&P 500 | PUT | 340,000 |
| Q1 2025 | TLN Talen Energy | CALL | 280,000 |
| Q4 2024 | LBTYA Liberty Global | CALL | 500,000 |
| Q4 2024 | PWR Quanta Services, Inc. | PUT | 120,000 |
| Q4 2024 | SPY SPDR S&P 500 | PUT | 320,000 |
| Q4 2024 | TLN Talen Energy | CALL | 240,000 |
| Q4 2024 | VST Vistra Corp. | PUT | 660,000 |
| Q3 2024 | LBTYA Liberty Global | CALL | 500,000 |
| Q3 2024 | SPY SPDR S&P 500 | PUT | 395,000 |
| Q2 2024 | CEG Constellation Energy Corporatio | PUT | 180,000 |
| Q2 2024 | NRG NRG Energy, Inc. | PUT | 800,000 |
| Q2 2024 | SPY SPDR S&P 500 | PUT | 695,000 |
| Q2 2024 | VST Vistra Corp. | PUT | 200,000 |
| Q1 2024 | SPY SPDR S&P 500 | PUT | 228,000 |
| Q1 2024 | VLY Valley National Bancorp | PUT | 500,000 |
| Q4 2023 | CAT Caterpillar, Inc. | PUT | 300,000 |
| Q4 2023 | SPY SPDR S&P 500 | PUT | 525,000 |
| Q4 2023 | VLY Valley National Bancorp | PUT | 1,000,000 |
| Q4 2023 | XOP SPDR S&P Oil & Gas Explor & Pro | PUT | 1,195,000 |
| Q3 2023 | CAT Caterpillar, Inc. | PUT | 400,000 |
| Q3 2023 | SPY SPDR S&P 500 | PUT | 450,000 |
| Q3 2023 | XOP SPDR S&P Oil & Gas Explor & Pro | PUT | 1,195,000 |
| Q2 2023 | SPY SPDR S&P 500 | PUT | 215,000 |
| Q2 2023 | XOP SPDR S&P Oil & Gas Explor & Pro | PUT | 945,000 |
| Q1 2023 | SPY SPDR S&P 500 | PUT | 250,000 |
| Q1 2023 | XOP SPDR S&P Oil & Gas Explor & Pro | PUT | 450,000 |