Alphyn Capital Management, an investment management firm, released its first-quarter 2024 investor letter. A copy of the letter can be downloaded here. The Master Account of the fund returned 7.1% net in the first quarter compared to 10.6% for the S&P500 Index. As of March 31, 2024, the top ten holdings accounted for approximately 66% of the portfolio, and approximately 8.2% of the portfolio was held in cash. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Alphyn Capital Management featured stocks like Oaktree Specialty Lending Corporation (NASDAQ:OCSL) in the first quarter 2024 investor letter. Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is a business development company. On April 11, 2024, Oaktree Specialty Lending Corporation (NASDAQ:OCSL) stock closed at $19.48 per share. One-month return of Oaktree Specialty Lending Corporation (NASDAQ:OCSL) was 1.99%, and its shares gained 2.31% of their value over the last 52 weeks. Oaktree Specialty Lending Corporation (NASDAQ:OCSL) has a market capitalization of $1.538 billion.
Alphyn Capital Management stated the following regarding Oaktree Specialty Lending Corporation (NASDAQ:OCSL) in its first quarter 2024 investor letter:
“Oaktree Specialty Lending Corporation (NASDAQ:OCSL): We previously owned the company but exited after Brookfield acquired its parent, Oaktree, and redeployed the capital at the top of the ownership stack in Brookfield. I reinvested in the fourth quarter of last year, given the attractive yield of 11% in the current high interest rate environment, approximately double that of treasuries, but not double the risk in my view.
OCSL’s $3 billion portfolio consists primarily of fixed income investments across 146 companies, with a strong focus on senior debt (78% first lien, up from 54% when Oaktree first took over management of the portfolio) and a flexible mandate that allows them to invest in liquid credit markets and secondaries, enabling them to capitalize on market dislocations. As part of the Oaktree group, it benefits from access to the parent’s extensive syndication platform, credit expertise, and resources to manage and work out the occasional loan delinquency.”
A close-up shot of a banker, looking confidently at his/her laptop, with stacks of papers and a toy credit card in the background.
Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Oaktree Specialty Lending Corporation (NASDAQ:OCSL) was held by 11 hedge fund portfolios, compared to 10 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
