Billionaire Howard Marks’ Top 10 Stock Picks

3. Garrett Motion Inc. (NASDAQ:GTX)

Oaktree Capital Management’s Stake Value: $360.60 million

Number of Hedge Fund Holders: 34

Garrett Motion Inc. (NASDAQ:GTX) is an auto parts company that designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers. The company has made advances in its electrified solutions and turbocharger portfolio. It has already secured new contracts for its largest turbocharger, which is specifically made for marine and auxiliary power applications.

Its long-term prospects look increasingly positive on landing the first series production contract. The contract highlights Garrett Motion Inc.’s (NASDAQ:GTX) expanding presence in zero-emission technology and is targeted at the Commercial Vehicle and Industrial segments. Given that the company’s fuel cell compressors are extensive and well-established, the company remains in a solid position to benefit from growth in this new market. Similarly, it has received multiple pre-development awards for commercial vehicle high-speed motor technology advancements.

Garrett Motion Inc. (NASDAQ:GTX) outlined its plan to return to shareholders at least 75% of its adjusted free cash flow through share repurchases and quarterly cash dividends. The board has approved a dividend policy that will start in 2025 and distribute about $50 million in dividends quarterly over the year.