Billionaire Howard Marks’ Top 10 Stock Picks

7. SunOpta Inc. (NASDAQ:STKL)

Oaktree Capital Management’s Stake Value: $132.17 million

Number of Hedge Fund Holders: 18

SunOpta Inc. (NASDAQ:STKL) engages in the manufacture and sale of plant-based and fruit-based food and beverage products. The company provides plant-based beverages utilizing oats, almonds, hemp, and other bases under the Dream and West Life brands. It was one of the best-performing stocks in the Oaktree Capital Management portfolio, rallying 24% in 2024. The rally came as the company capitalized on the rising demand for health-conscious and sustainable food options.

With revenue up 16% to $176 million in the third quarter of fiscal 2024, SunOpta Inc. (NASDAQ:STKL) reported an impressive quarter. The 16.96% revenue growth demonstrates SunOpta’s capacity to take advantage of the growing sustainable and health-conscious food options market. A 21% increase in volume was the main driver of this growth, with the fruit snacks segment exhibiting an astounding 42% growth. Management is still committed to lowering net leverage through customer expansion and operational improvements.

In addition, SunOpta Inc. (NASDAQ:STKL) has moved to strengthen and diversify its revenue base with the launch of SOWN® Oat Cold Foaming Cream on Amazon and at Sprouts Farmers Market stores nationwide. The launch of SOWN® Oat Cold Foaming Cream on major retail platforms represents a strategic move into the rapidly growing plant-based coffee creamer market. The timing aligns with the surge in cold foam popularity at national coffee chains, indicating strong market potential.