Billionaire Howard Marks’ Top 10 Stock Picks

6. Star Bulk Carriers Corp. (NASDAQ:SBLK)

Oaktree Capital Management’s Stake Value: $135.32 million

Number of Hedge Fund Holders: 24

Star Bulk Carriers Corp. (NASDAQ:SBLK) is a shipping company that engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport iron ores, minerals and grains, bauxite, fertilizers, and steel products. The stock was under pressure, going down by 30% in 2024 as the company faced a challenging market environment, including volatile shipping rates and industry headwinds.

Star Bulk Carriers Corp. (NASDAQ:SBLK) delivered solid third-quarter results despite the challenging business environment. It logged earnings per share of $0.71 against $0.68 expected. The better than expected earnings were supported by higher-than-expected revenue of $344.3 million. The company reported $81 million in net income, $83 million in adjusted net income, and $433 million in strong liquidity.

Star Bulk Carriers Corp. (NASDAQ:SBLK) remains in a solid market position, having secured over 76% of its available vessel days at an average Time Charter Equivalent (TCE) rate of $17,010 per day. Additionally, Star Bulk increased its dividend offering by 75% as it continues to reward shareholders. Likewise, it remains a firm favorite for income-focused investors, as shown by its 13.98% dividend yield.