RiverPark Funds, an investment management firm, published its “RiverPark Short Term High Yield Fund & RiverPark Strategic Income Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. In an unpredictable market, RiverPark Strategic Income stays conservative, with an effective maturity of a fraction of the indices while maintaining comparative yields. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, RiverPark Short Term High Yield Fund & RiverPark Strategic Income Fund mentioned Golar LNG Limited (NASDAQ:GLNG) and explained its insights for the company. Founded in 1946, Golar LNG Limited (NASDAQ:GLNG) is a Hamilton, Bermuda-based publicly traded limited company with a $2.2 billion market capitalization. Golar LNG Limited (NASDAQ:GLNG) delivered a 66.67% return since the beginning of the year, while its 12-month returns are up by 59.21%. The stock closed at $20.65 per share on July 06, 2022.
Here is what RiverPark Short Term High Yield Fund & RiverPark Strategic Income Fund has to say about Golar LNG Limited (NASDAQ:GLNG) in its Q1 2022 investor letter:
“Golar LNG Ltd. is a lessor and operator of liquefied natural gas (LNG) transport ships, floating natural gas liquefying systems (FLNGs) and a floating storage regassification unit (FSRU). LNG ships take on natural gas that has been cooled into a liquid state to permit transport to distant ports for re-gasification and distribution. The FLNGs, positioned near offshore gas production wells, efficiently liquefy natural gas on-site using cold seawater, avoiding the need for pipelines linked to on-shore liquefaction facilities. The FSRU stores LNG and has onboard facilities that convert LNG back into its gaseous state. Comfortable with the quality of the company’s hard assets and confident that cash flow from operations would permit deleveraging, in October 2021, we participated in the new issuance of Golar’s 7% unsecured bonds due 2025. The new issue proceeds were used to repay their convertible bond due in February 2022. At that time, leverage net of cash was 6.6x and leverage net of cash and equity investments was 4.8x…” (Click here to see the full text)
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Our calculations show that Golar LNG Limited (NASDAQ:GLNG) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Golar LNG Limited (NASDAQ:GLNG) was in 31 hedge fund portfolios at the end of the first quarter of 2022, compared to 21 funds in the previous quarter. Golar LNG Limited (NASDAQ:GLNG) delivered a -14.17% return in the past 3 months.
In June 2022, we also shared another hedge fund’s views on Golar LNG Limited (NASDAQ:GLNG) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
