Leon Cooperman Increases Ocwen, Comcast, Closes Dollar General

Leon Cooperman Increases Ocwen, Comcast, Closes Dollar General
Leon Cooperman photo (CC BY-ND 2.0) Insider Monkey

Leon Cooperman’s Omega Advisors has released its latest 13F filing with the Securities and Exchange Commission today, showing a huge increase to its holdings of Ocwen Financial Corp (NYSE:OCN) and Comcast Corporation (NASDAQ:CMCSK), while closing a major position in Dollar General Corp. (NYSE:DG). Omega Advisors’ four largest holdings remained the same in the second quarter, although each of them was reduced slightly. Sprint Corporation (NYSE:S) makes up 4.48% of the Omega Advisors portfolio followed by SandRidge Energy Inc. (NYSE:SD) at 4.42%, American International Group Inc (NYSE:AIG) at 3.92%, and Sirius XM Holdings Inc. (NASDAQ:SIRI) at 3.75%. Citigroup Inc (NYSE:C) accounted for 3.31% of the firm’s equity holdings and no other stock made up more than 3%.

Leon Cooperman’s new Positions

Leon Cooperman’s Omega Advisors opened a lot of new positions last quarter, but the largest is Navient Corp (NASDAQ:NAVI) with 10.1 million shares worth 2.37% of the firm’s portfolio. Next up is 1.2 million shares of Apple Inc. (NASDAQ:AAPL), 1.4 million shares of QEP Resources Inc (NYSE:QEP) and 16.9 million shares of Gulf Coast Ultra Deep Royalty Trust – Royalty Trust Unit (NASDAQ:GULTU).

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Other new positions during the second quarter include SeaWorld Entertainment (NYSE:SEAS) with 1.1 million shares, Cabot Oil & Gas Corporation (NYSE:COG) with 526,000 shares, Abengoa Yield plc (NASDAQ:ABY) with 400,000 shares, ConnectOne Bancorp Inc (NASDAQ:CNOB) with 545,000 shares, Range Resources Corp. (NYSE:RRC) with 55,000 shares, and Sunedison Inc (NYSE:SUNE) with 202,000 shares.

Smaller new positions include Arista Networks Inc (NYSE:ANET), Qiwi PLC (NASDAQ:QIWI), Prothena Corporation PLC (NASDAQ:PRTA), PBF Logistics LP (NYSE:PBFX), Metlife Inc (NYSE:MET), Cheniere Energy, Inc. (NYSEMKT:LNG), MobileIron Inc (NASDAQ:MOBL), and Aspen Aerogels Inc (NYSE:ASPN).

Technically Omega Advisors opened a large new position in KKR & Co. L.P. (NYSE:KKR) and closed its position in KKR Financial Holdings LLC (NYSE:KFN), but this was really just because KKR completed its acquisition of KFN at the end of April.

Leon Cooperman’s closed Positions

In addition to selling its stake in Dollar General Corp. (NYSE:DG), Omega Advisors also closed a large position in ADT Corp (NYSE:ADT). Other positions closed during the second quarter include SunPower Corporation (NASDAQ:SPWR), Energy XXI (Bermuda) Limited (NASDAQ:EXXI), Cobalt International Energy, Inc. (NYSE:CIE), Center Bancorp, Express Scripts Holding Company (NASDAQ:ESRX), Platform Specialty Products Corp (NYSE:PAH), and Silver Bay Realty Trust Corp (NYSE:SBY).

Leon Cooperman: SLM reduced by nearly two-thirds

One of the biggest changes to Leon Cooperman’ portfolio is the reduction of SLM Corp (NASDAQ:SLM), which was the fifth largest position at the end of the first quarter, by 65% to 2.13% of the total portfolio. Meanwhile the biggest percentage change was a more than 1000% increase to Ocwen Financial Corp (NYSE:OCN) bringing it up to 1.16% of the portfolio followed by a 334% increase in Comcast Corporation (NASDAQ:CMCSK) bringing it up to 1.19% the portfolio.

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