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).
In April, Li Lu and Bruce Greenwald took part in a discussion at the 13th Annual Columbia China Business Conference. The value investor and professor discussed multiple topics, including the value investing philosophy and the qualities Li looks for when evaluating potential investments. Q3 2021 hedge fund letters, conferences and more How Value Investing Has Read More
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).