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Can anyone explain the difference between Navios Maritime Holdings (NM - the parent company) and Navios Maritime Limited Partners (NMM - the new company whose stock was first issued a few months ago)

What are you buying when you purchase NM and how does that compare with your holdings if you purchase NMM instead?

I searched both websites looking for something simple (and obvious) like a list of the assets owned by each, but no luck.

Can anyone explain (simply...) what each company owns (and any other significant differences)?


{I was considering buying some NM shares, then I learned about NMM and noticed the much higher dividend yield. I'm sure that some factor balances out the higher yield, otherwise why would anyone purchase the parent company???)
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NMM is a master limited partnership, so you only want to own it in a taxable account (no IRAs or 401k). It owns 8 or 9 ships and will gradually buy more ships over time as NM finds suitable assets and NMM lines up the financing. It is likely to increase its dividend over time as more ships are added.

NM owns and/or controls a larger fleet (~45 ships), a sizable port and barging operation in South America, and about a 50% interest in NMM (including the general partner interest). The dividend is more modest, but NM is growing its cash flow at a ferocious rate and dividends, stock buybacks, etc. will follow. It is also a possibility that NM eventually spins out its port operations to NM holders.

I prefer NM, myself. More upside.
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