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Tracking Leon Cooperman’s Omega Advisors Portfolio – This fall 2021 Update

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This article is a part of a collection that gives an ongoing evaluation of the modifications made to Leon Cooperman’s 13F inventory portfolio on a quarterly foundation. It relies on his regulatory 13F Form filed on 2/14/2022. The 13F portfolio worth elevated ~6% from ~$1.89B to ~$1.99B this quarter. Recent 13F stories have proven a complete of round 60 particular person inventory positions within the portfolio though lots of that are minutely small. The largest 5 stakes are Mr. Cooper Group, Alphabet, Athene Holding, Devon Energy, and Fiserv. They add as much as ~36% of your entire portfolio. Please go to our Tracking Leon Cooperman’s Omega Advisors Portfolio collection to get an concept of their funding philosophy and our earlier replace for the fund’s strikes throughout Q3 2021.

Note: Regulatory filings because the quarter ended present them proudly owning 10.1M shares (6.2% of the enterprise) of Sierra Metals (SMTS). This is in comparison with 3.44M shares within the 13F report.

New Stakes:

Mirion Technologies (MIR): MIR is a 1.58% of the portfolio place bought at costs between $9.84 and $11.76 and the inventory presently trades properly beneath that vary at $7.72.

Note: Mirion Technologies got here to market by way of a SPAC merger with GS Acquisition II that closed in October 2021.

Stake Disposals:

Alibaba Group Holding (BABA): The 0.78% BABA place was established during the last two quarters at costs between ~$206 and ~$271. The disposal this quarter was at costs between ~$112 and ~$178. The inventory is now at ~$110.

Stake Increases:

Coterra Energy (CTRA), beforehand Cabot Oil & Gas: The ~3% of the portfolio stake in CTRA was primarily constructed final quarter at costs between $14.40 and $22.55. The inventory presently trades at $27.10. This quarter noticed a minor ~5% stake enhance.

Chimera Investment Corp. (CIM): The bulk of the two.58% CIM stake was in-built Q1 2019 at a cost-basis of ~$19 per share. This fall 2019 noticed a ~25% promoting at costs between ~$19.50 and ~$21.50. Since then, the exercise has been minor. The inventory presently trades at $12.11.

Vertiv Holdings (VRT): VRT is a 2.51% of the portfolio place in-built H2 2020 at costs between ~$17 and ~$20. Last 4 quarters have seen a ~55% stake enhance at costs between ~$18 and ~$28. The inventory presently trades beneath these ranges at $14.58.

Lithia Motors (LAD): LAD is a 2.24% of the portfolio place established in Q2 2021 at costs between ~$313 and ~$403 and the inventory presently trades beneath that vary at ~$301. There was a ~9% stake enhance this quarter.

General Motors (GM): The 2.21% of the portfolio GM place noticed a stake doubling during the last two quarters at costs between ~$48 and ~$65. The inventory presently trades beneath that vary at ~$43.

Arbor Realty Trust (ABR): ABR is a 2.16% of the portfolio place in-built Q1 2019 at costs between ~$10.50 and ~$13. The inventory is now at $17.30. Last a number of quarters have seen solely minor changes.

Las Vegas Sands (LVS): LVS is a small 1.37% of the portfolio place established final quarter at costs between ~$35 and ~$52. There was a ~25% stake enhance this quarter at costs between ~$34 and ~$43. The inventory presently trades at $39.52.

Finance Of America (FOA): The ~1% stake in FOA was bought at costs between ~$7.30 and ~$11.60 and it’s now properly beneath that vary at $3.07. Last two quarters have seen a ~15% stake enhance at costs between $3.85 and $7.65.

Ellington Financial (EFC), First Eagle Alternative Capital BDC (FCRD), SunOpta Inc. (STKL), and Vanguard S&P 500 ETF (VOO): These small (lower than ~1.20% of the portfolio every) stakes have been elevated in the course of the quarter.

Note: They have a ~7.2% possession stake in First Eagle Alternative Capital BDC.

Stake Decreases:

Athene Holding: Athene was a big (prime three) 6.70% of the portfolio place first bought in Q3 2020 at costs between ~$30 and ~$37. There was a ~60% stake enhance in Q1 2021 at costs between ~$41 and ~$52. This quarter noticed a ~8% discount.

Note: Apollo Global (APO) acquired Athene in an all-stock (1.140 shares of Apollo for every Athene inventory held) deal that closed in January.

Devon Energy (DVN): DVN is a big (prime 5) ~6% of the portfolio stake established in Q1 2021 on account of their acquisition of WPX Energy that closed in January. Cooperman had ~6.19M shares of WPX Energy for which he obtained these shares (all-stock deal at alternate ratio 1:0.5165). DVN presently trades at $60.35. There was a ~13% trimming this quarter.

MP Materials (MP): The giant ~5% MP stake was in-built H2 2020 at costs between ~$10 and ~$35.50. The inventory presently trades at $56.54. There was a ~10% trimming this quarter.

Note: Fortress Value Acquisition merged with MP Materials in a ~$1B EV SPAC deal that closed in November 2020.

NRG Energy (NRG): NRG is a 1.30% of the portfolio place established in H1 2021 at costs between ~$32 and ~$44 and the inventory presently trades at $38.40. There was a ~12% trimming this quarter.

Barings BDC (BBDC), Enterprise Products Partners (EPD), and PennyMac Financial Services (PFSI): These minutely small (lower than ~0.30% of the portfolio every) stakes have been decreased this quarter.

Kept Steady:

Mr. Cooper Group (COOP), beforehand WMIH Corp: COOP is presently the most important place at 8.88% of the portfolio. The unique small stake was doubled in This fall 2018 within the mid-teens price-range following its 12-for-1 reverse stock-split and title change transaction. That unique stake was since bought down however a bigger stake was constructed throughout This fall 2019 & Q1 2020 at costs between ~$6 and ~$14.50. There was a ~15% trimming in Q1 2021 at costs between ~$27 and ~$37. The inventory presently trades at $45.48.

Note: Regulatory filings from final week present them proudly owning 3.25M shares (4.41% of the enterprise) of Mr. Cooper Group. This is in comparison with 4.25M shares within the 13F report.

Alphabet Inc. (GOOG): GOOG is presently the second-largest place within the portfolio at 8.73%. It was first bought in Q2 2015 at costs between ~$525 and ~$545. The stake was bought in H1 2020 at costs between ~$1072 and ~$1521 however was rebuilt subsequent quarter at costs between ~$1445 and ~$1645. The inventory is now at ~$2814.

Fiserv, Inc. (FISV): FISV is a top-five 5.37% of the portfolio place. The place goes again to a big stake in First Data Corporation bought in This fall 2015. Fiserv acquired First Data in an all-stock deal (0.303 of Fiserv for every First Data share) that closed in July 2019. At the time, the 2M share stake in Fiserv was the most important place within the portfolio at ~13%. There was a ~50% promoting in Q1 2020 at costs between ~$82 and ~$122. The inventory presently trades at ~$103.

Cigna Corp. (CI): The giant 5.19% CI stake was first bought in the course of the three quarters by way of Q1 2019 at costs between ~$161 and ~$223. There was a ~22% discount in Q3 2020 at costs between ~$162 and ~$191. The inventory is now at ~$246. Last quarter noticed a ~6% stake enhance.

Ashland Global (ASH): ASH is a long-term stake that was first bought in H2 2014 at costs between ~$48 and ~$59. Q2 & Q3 2015 noticed a stake doubling at costs between ~$50 and ~$63. The place has wavered. Recent exercise follows. H2 2018 noticed a ~37% promoting at costs between ~$67 and ~$86. Since then, the exercise has been minor. The inventory is now at ~$99 and the stake is at 4.72% of the portfolio.

Microsoft Corp. (MSFT): MSFT is a 4.15% of the portfolio place first bought in This fall 2015 & Q1 2016 at costs between ~$44 and ~$55. The subsequent 4 quarters noticed a ~75% promoting at costs between ~$50 and ~$65. The place was rebuilt in Q2 2017 at costs between ~$65 and ~$71. This fall 2018 noticed a ~75% discount at costs between ~$98 and ~$112. Since then, the stake has been regular. The inventory presently trades at ~$309.

WillScot Mobile Mini (WSC): The 3.48% of the portfolio stake in WSC was constructed during the last 4 quarters at costs between ~$17 and ~$32 and the inventory is now at $39.51.

Bausch Health (BHC): BHC is a pretty big 3.47% of the portfolio place constructed during the last two quarters at costs between ~$25 and ~$33. The inventory presently trades at $23.04.

Trinity Industries (TRN): TRN is now a ~3% of the portfolio stake. It was first in-built Q3 2017 at costs between ~$27 and ~$32. Q2 2018 noticed a one-third stake enhance at costs between ~$31.50 and ~$36. That was adopted with a ~45% stake enhance throughout Q2 & Q3 2019 at costs between ~$16 and ~$24. There was a ~30% discount in Q1 2021 at costs between ~$26 and ~$33. The inventory is now at $34.03. Last two quarters have seen a ~10% trimming.

Energy Transfer Equity (ET): ET is a 2.89% of the portfolio stake established throughout Q2 2017 to Q1 2018 at costs between ~$16 and ~$19. 2019 noticed a ~125% stake enhance at costs between ~$11.50 and ~$15.75. This fall 2020 additionally noticed a ~30% enhance at costs between ~$5 and ~$7. The inventory presently trades at $11.52.

Amazon.com, Inc. (AMZN): AMZN was first bought in Q3 2016 at costs between ~$720 and ~$830. There was a ~50% promoting in Q2 2017 at costs between ~$885 and ~$1007 whereas This fall 2019 noticed the same enhance at costs between ~$1740 and ~$1870. The inventory presently trades at ~$3271 and the stake is at 1.67% of the portfolio. There was a ~13% trimming in Q1 2021.

Pioneer Natural Resources (PXD): The 1.24% PNQ stake was in-built H1 2021 at costs between ~$114 and ~$170­ and it’s now at ~$253.

Citigroup (C): The 1.15% Citigroup stake was in-built Q1 2018 at costs between ~$68 and ~$80. Q1 2020 noticed a ~50% promoting at costs between ~$37.50 and ~$81. The inventory presently trades at $52.33.

Aspen Group (ASPU), Gannett Co. (GCI), and Motorola Solutions (MSI): These small (lower than ~1.5% of the portfolio every) stakes have been stored regular this quarter.

Note: They have a 9.85% possession stake in Aspen Group.

Below is a spreadsheet that reveals the modifications to Leon Cooperman’s Omega Advisors 13F portfolio holdings as of This fall 2021:

Leon Cooperman - Omega Advisors

Leon Cooperman – Omega Advisors’ This fall 2021 13F Report Q/Q Comparison (John Vincent (writer))

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