Institutions buy stakes in Navios
A number of large institutional investors have taken large stakes in Navios Maritime Holdings, which went public in November.
The Associated Press reported that Lehman Brothers Holdings has taken an 8.1 percent passive stake in the drybulk shipping company and billionaire investor George Soros has purchased a 5.7 percent interest.
Other large investors that have filed papers with the Securities and Exchange Commission indicating large holdings are Neuberger Berman, with a 10.4 percent stake and Wellington Management with a 14 percent stake.
Navios has a fleet of 47 owned and long-term chartered vessels and on any given day, charters an additional 20 to 30 vessels for short- or medium-term employment.