A Hedge Fund That Saw Returns Of Over 20% Is Holding On To These 2 Marine Shipping Stocks With Soaring Yields

Zinger Key Points
  • Oaktree Capital Management maintains its stake in TORM as its largest position during the third quarter.
  • Star Bulk Carriers offers a dividend yield of 31.82% or $6.50 per share annually, making quarterly payments.
A Hedge Fund That Saw Returns Of Over 20% Is Holding On To These 2 Marine Shipping Stocks With Soaring Yields

Oaktree Capital Management saw a one-year return of roughly 22.8% last year, according to Stock Circle, and has a total portfolio value north of $9 billion. 

The company was co-founded in 1955 by co-Chairman Howard Marks and as of Sept. 30, 2022, it had more than $163 billion in assets under management through its diversified mix of global investment strategies in four categories: credit, private equity, real assets and listed equities.

In 2019, Brookfield Asset Management BAM acquired a majority stake in Oaktree.

Oaktree works with more than 500 corporations globally, 39 of the 50 state retirement plans in the U.S. and at least 15 sovereign wealth funds.

Here are two marine shipping stocks with high yields Oaktree Capital Management holds.

Also Read: Marine Transportation Stocks Have Avoided Treacherous Waters In 2022: Check Out 3 Smaller Players With High-Yield Dividends

Star Bulk Carriers Corp. SBLK offers a dividend yield of 31.82% or $6.50 per share annually, making quarterly payments with an inconsistent track record of increasing its dividends.

Star Bulk Carriers is one of the largest dry bulk shipping companies listed on NASDAQ, with a diversified fleet of roughly 128 bulk carriers ranging from Supramax vessels to Newcastlemax vessels.

Oaktree Capital Management maintained its stake in Star Bulk Carriers over the course of the third quarter, making it the fifth largest position with 26 million shares or 5% of the total portfolio.

TORM PLC TRMD is offering a dividend yield of 7.53% or $2.04 per share annually, through semiannual payments with an infrequent track record of increasing its dividend payments.

TORM has a fleet of around 80 vessels that are specifically configured to move energy and clean petroleum products from refineries to their customers ranging in size between 45,000 to 114,000 Deadweight tonnage (DWT). The company transports clean petroleum products including gasoline, jet fuel, naphtha and diesel oil, as well as other clean products.

Oaktree Capital maintained its stake in TORM during the third quarter as the fund's largest position with 53 million shares or 12% of the total portfolio.

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Photo: Avigator Fortuner via Shutterstock

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