5 Best Stocks to Buy Now According to Billionaire Howard Marks’ Oaktree Capital

2. TORM plc (NASDAQ:TRMD)

Oaktree Capital’s Stake Value: $727 million

Percentage of Oaktree Capital’s 13F Portfolio: 8.44%

Number of Hedge Fund Holders: 12

TORM plc (NASDAQ:TRMD) is a British shipping company that is responsible for shipping crude and refined oil all over the globe. The firm was set up in 1889, and it is based in London, United Kingdom.

TORM plc (NASDAQ:TRMD)’s second fiscal quarter saw the firm command nearly twice the charter rates that it had posted in the year ago quarter. By Q2 2022 end, the rates were $29,622 and at the end of Q1 2022, they stood at $14,591.

For its second quarter of 2022 investment portfolio, Oaktree Capital held a $727 million stake in TORM plc (NASDAQ:TRMD) which came through the firm holding 53 million shares of the company. Insider Monkey surveyed 895 hedge fund portfolios for their June quarter of 2022 investments to discover that 12 had also held a stake in the company.

Out of these, Jim Simons’ Renaissance Technologies followed Oaktree Capital as TORM plc (NASDAQ:TRMD)’s second largest investor through a $5.9 million stake that came through 438,040 shares.