Omega Advisors Buys Sunpower Corp, Increases JPMorgan, Sirius XM

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Leon Cooperman’s Omega Advisors initiated positions in Dollar General Corp. (NYSE:DG) and Time Warner Cable Inc (NYSE:TWC) last quarter with 1.7 million and 530,000 shares respectively, according to the hedge fund’s recently filed 13F, though neither is a major holding. It also increased its largest position Sprint Corp to 43 million shares worth nearly $400 million.

Omega Advisors’ new and increased positions

Omega Advisors’ other new positions include Actavis plc (NYSE:ACT) (260,000 shares), ADT Corp. (2.7 million shares), Andarko Petroleum (230,000 shares), New Media Investment Group (3.9 million shares), National Oilwell Varco Inc (183,000 shares), Ocwen Financial Corp. (220,000 shares), and Sunpower Corp (NASDAQ:SPWR) (1.4 million shares).

Omega Advisors nearly doubled its stake in the Harbinger Group Inc (NYSE:HRG), and increased JPMorgan Chase & Co. (NYSE:JPM) from a tentative 69,000 to 1.7 million shares, making it one of the funds larger positions. Other significant increases include Citigroup Inc (NYSE:C) (3.9 million to 5.4 million) shares; eBay Inc (NASDAQ:EBAY) (850,000 to 2.9 million shares); Cobalt International Energy (NYSE:CIE) (800,000 to 1.4 million shares); SandRidge Energy Inc. (NYSE:SD) (41 million to 48 million shares); Sirius XM Holdings Inc. (NASDAQ:SIRI) (78.5 million to 86 million shares); and New Residential Investment (7.8 million to 11.3 million shares).

Omega Advisors closed and decreased positions

Omega Advisors exited what had been major positions in T-Mobile US Inc (NYSE:TMUS), Transocean LTD (NYSE:RIG), and Altisource Portfolio Solutions (NASDAQ GS: ASPS). It also completely exited Metlife Inc, Crosstex Energy LP, Gannett Co (NYSE:GCI), KKR & Co. L.P. (NYSE:KKR), Lennar Corp (NYSE:LEN), and Williams Cos Inc (NYSE:WMB).

Omega Advisors nearly closed its position in Caesars Entertainment Corp (NASDAQ:CZR), reducing it from 5.3 million shares to just 300,000, and cut its position in Comcast Corporation (NASDAQ:CMCSA) (NASDAQ:CMCSK) to less than half, from 1.2 million to 500,000 shares. It also significantly reduced its positions in QUALCOMM, Inc. (NASDAQ:QCOM) (2.6 million to 2.0 million shares), SunEdison Inc (NYSE:SUNE) (8.1 million to 7.5 million shares), and SUPERVALU INC. (NYSE:SVU) (3.6 million to 2.6 million shares).

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About the Author

Michael Ide
Michael has a Bachelor's Degree in mathematics and physics from Boston University and Master's Degree in physics from University of California, San Diego. He has worked as an editor and writer for several magazines. Prior to his career in journalism, Michael Worked in the Peace Corps teaching math and science in South Africa.

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