- Leon Cooperman’s 13F portfolio decreased from $3.57B to $3.24B this quarter.
- Omega Advisors increased Shire plc while reducing Alphabet.
- First Data Corp., Navient Corp, and Aercap Holdings are the largest three individual stock positions.
Leon Cooperman’s US long portfolio decreased 9.10% from $3.57B to $3.24B this quarter. Although the 13F report has 76 positions, the portfolio is concentrated with the top five holdings accounting for almost a quarter of the entire portfolio: First Data (FDC), Navient Corp. (NAVI), AerCap Holdings (AER), HRG Group (HRG), and American International Group (AIG).
Below is a summary:
Allergan plc (AGN): AGN is a fairly large stake at 3.85% of the portfolio. The original position was built in H1 2014 at prices between $168 and $224. Q1 2016 had seen a ~28% reduction at prices between $266 and $313. The stance reversed last quarter: ~20% increase at prices between $202 and $278. This quarter saw a ~20% selling at prices between $230 and $260. The stock is now at $193.
American International Group (AIG): The large (top five) 4.39% portfolio position in AIG was established in the first three quarters of 2012 at a cost-basis of ~$30. At the time, the stake was huge at ~8M shares compared to the current position of ~2.4M shares. This year has seen a ~40% reduction at prices between $49 and $62. The stock is now at $66.30.
Dow Chemical (DOW): DOW is a 2.49% of the US long portfolio stake. The bulk of the position was purchased in Q1 2015 at prices between $44 and $53. Last quarter saw a ~10% trimming and that was followed with another ~20% selling this quarter at prices between $48 and $54. The stock currently trades at $58.41.
Ashland Global (ASH): ASH is a 2.40% position purchased in Q4 2014 at prices between $98 and $121. Q2 & Q3 2015 also saw a stake doubling at prices between $75 and $92. Last three quarters saw the pattern reverse: ~55% combined selling at prices between $89 and $123. The stock currently trades at ~$110.
Chimera Investment Corp. (CIM): CIM is a 1.45% portfolio stake. It was established in Q4 2012 and Q1 2013 at prices between $12.75 and $16.25. Last three quarters saw a ~78% selling at prices between $11 and $17. The stock is now at $17.
Below is a spreadsheet that shows the changes to Leon Cooperman's Omega Advisors US long portfolio holdings as of Q3 2016. For a look at how the portfolio has progressed, see our previous update:
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