- Leon Cooperman’s 13F portfolio value increased from $2.27B to $2.48B this quarter.
- Omega Advisors increased Alphabet & Time Inc. while reducing Allergan plc and dropping E*Trade.
- Alphabet, First Data Corp., and United Continental are the largest three individual stock positions.
Leon Cooperman’s US long portfolio value increased ~10% from
$2.27B to $2.48B this quarter. Although the 13F report has ~70 positions, the
portfolio is concentrated with the top five holdings accounting for almost a
quarter of the entire portfolio: Alphabet Inc. (GOOG), First Data (FDC), United
Continental (UAL), AerCap Holdings (AER), and American International Group
(AIG).
Below is a summary:
Alphabet Inc. (GOOG):
GOOG is now the largest 13F positon at 5.42% of the portfolio. The bulk of
the original stake was purchased in Q2 & Q3 2015 at prices between $530 and
$675. It had since been sold down. This quarter saw a ~15% increase at prices between
$787 and $852. The stock is now at $966.
Allergan plc (AGN):
AGN is a medium-sized stake at 2.84% 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. Q3 2016 saw a ~20%
selling at prices between $230 and $260 and that was followed with another
one-third reduction last quarter at prices between $189 and $243. There was
another ~20% selling this quarter at prices between $210 and $250. The stock is
now at $247.
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.
Dow Chemical (DOW):
DOW is a 3.49% 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 the following quarter at prices
between $48 and $54. The stock currently trades at $63.47. There was another
~12% trimming last quarter.
Below is a spreadsheet that shows the changes to Leon
Cooperman's Omega Advisors US long portfolio holdings as of Q1 2017. For a look
at how the portfolio has progressed, see our previous update:
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