- Leon Cooperman’s 13F portfolio value decreased from $2.31B to $1.02B this quarter.
- Omega Advisors reduced United Continental (UAL) & AMC Networks (AMCX) while increasing CVS Health (CVS) & Cigna (CI).
- United Continental (UAL), Alphabet Inc. (GOOG), and AMC Networks (AMCX) are the largest three individual stock positions.
Leon Cooperman’s 13F portfolio value decreased ~55% from $2.87B
to $1.02B this quarter as they converted to a Family Office structure (no more
outside money). Although the 13F report has ~70 positions, the portfolio is
concentrated with the top five holdings accounting for over one-third of the
entire portfolio: United Continental Holdings (UAL), Alphabet Inc. (GOOG), Nielsen
NV (NLSN), Ashland Global (ASH), and CVS Health (CVS).
Note: On UAL, Cooperman said in October that the stock has
doubled ($85 PPS at the time) but expects it to reach $120 in twelve to
eighteen months. The stock is currently at ~$81.45.
Below is a summary:
Alphabet Inc. (GOOG):
GOOG is now the third-largest 13F positon at 8.41% 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. Q1 2017 saw a ~15% increase at
prices between $787 and $852. The stock is now at $1191. Last two quarter saw a
~50% selling at prices between $976 and $1270.
DowDupont(DWDP):
DWDP is a 4.89% of the 13F 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 $55.52. Last quarter saw a
~11% trimming and that was followed with a similar selling this quarter.
Below is a spreadsheet that shows the changes to Leon
Cooperman's Omega Advisors 13F portfolio holdings as of Q4 2018. For a look at
how the portfolio has progressed, see our previous update:
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