Tracking Leon Cooperman’s Omega Advisors Portfolio - Q4 2016 Update

• Leon Cooperman’s 13F portfolio value decreased from $3.24B to $2.27B this quarter.
• Omega Advisors increased Shire plc & Time Inc. while dropping Motorola Solutions.
• United Continental, First Data Corp., and HRG Group are the largest three individual stock positions.

Leon Cooperman’s US long portfolio value decreased ~30% from $3.24B to $2.27B this quarter. Although the 13F report has 72 positions, the portfolio is concentrated with the top five holdings accounting for almost a quarter of the entire portfolio: United Continental (UAL), First Data (FDC), HRG Group (HRG), Alphabet Inc. (GOOG), and AerCap Holdings (AER).

Below is a summary:

Allergan plc (AGN): AGN is a medium-sized stake at 3.37% 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 the following quarter: ~20% increase at prices between $202 and $278. Last quarter saw a ~20% selling at prices between $230 and $260 and that was followed with another one-third reduction this quarter at prices between $189 and $243. The stock is now at $239.

American International Group (AIG): The large (top five) ~4% 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 ~1.4M shares. 2016 saw a ~70% reduction at prices between $51 and $66. The stock is now at $63.44.

Dow Chemical (DOW): DOW is a 3.44% of the US long portfolio stake. The bulk of the position was purchased in Q1 2015 at prices between $44 and $53. Q2 2016 saw a ~10% trimming and that was followed with another ~20% selling last quarter at prices between $48 and $54. The stock currently trades at $63.28. There was another ~12% trimming this quarter.

Ashland Global (ASH): ASH is a 2.61% 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. 2016 saw the pattern reverse: Two-thirds reduction at prices between $89 and $123. The stock currently trades at ~$121

Chimera Investment Corp. (CIM): CIM is now a minutely small stake stake. The original position was established in Q4 2012 and Q1 2013 at prices between $12.75 and $16.25. Last year saw the stock almost sold out at prices between $11.50 and $17.50. The stock is now at $18.89.

Below is a spreadsheet that shows the changes to Leon Cooperman's Omega Advisors US long portfolio holdings as of Q4 2016. For a look at how the portfolio has progressed, see our previous update:

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