Howard Marks
Howard Marks runs Oaktree Capital, an asset manager overseeing $7.03B in disclosed equity holdings (SEC CIK 0000949509). The latest 13F filing (2025Q4) discloses 166 positions across 11 sectors, with the largest positions in EXE, TORM PLC and ANGLOGOLD ASHANTI PLC. OpenStocks tracks 40 consecutive 13F filings for this manager — every position change, new entry, and exit is logged below.
What Howard is holding in options
Howard Marks (Oaktree Capital) disclosed 2 option positions in the 2024Q3 13F filing — 1 long-call and 1 long-put — totaling $237.2M of underlying-share notional value. The largest exposures are a put on SPY, a call on G61188101. Notional values reflect the value of the underlying shares at the quarter-end snapshot, not the option premium paid.
Options & derivatives
2 positions · $237.2M notional1 CALL · $10.6M1 PUT · $226.6M| Type | Underlying | Shares | Notional | % of book |
|---|---|---|---|---|
| PUT | SPYSPDR S&P 500 ETF TR | 395K | $226.6M | 3.6% |
| CALL | G61188101LIBERTY GLOBAL LTD | 500K | $10.6M | 0.2% |
Notional = value of the underlying shares at the quarter-end snapshot, not the option premium paid. A long PUT is a bearish bet on the underlying; a long CALL is a bullish bet. The reported value is included in the portfolio total but does not reflect actual capital at risk.