Omega Buys Apple Inc. After Shares Fall, Dumps Facebook

Omega Buys Apple Inc. After Shares Fall, Dumps Facebook
Leon Cooperman photo (CC BY-ND 2.0) Insider Monkey

Leon Cooperman’s latest 13F filing with the Securities and Exchange Commission shows that he not only bought shares of Apple Inc. (NASDAQ:AAPL) during the second quarter but also sold completely out of Facebook Inc (NASDAQ:FB).

Omega Buys Apple Inc. After Shares Fall, Dumps Facebook

Cooperman’s fund Omega Advisors lists its top five 13F holdings as Sprint Nextel Corporation (NYSE:S), which makes up more than percent of the firm’s portfolio. Next are SLM Corp (NASDAQ:SLM), American International Group Inc (NYSE:AIG), Sirius XM Radio Inc (NASDAQ:SIRI) and QUALCOMM, Inc. (NASDAQ:QCOM), each of which make up less than 5 percent of the firm’s portfolio.

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Omega’s New stocks and position increases

The firm actually added Apple Inc. (NASDAQ:AAPL) to its portfolio during the second quarter, treading lightly as it did so. Omega Advisors bought just 31,000 shares of the company’s stock. Other noteworthy new stocks for the firm include Oracle Corporation (NYSE:ORCL), Caesars Entertainment Corp (NASDAQ:CZR), Ascena Retail Group Inc (NASDAQ:ASNA) and PennyMac Financial Services Inc (NYSE:PFSI).

Omega Advisors increased its position in Atlas Resource Partners, L.P. (NYSE:ARP), snapping up more than 3 million shares during the second quarter of the year. The firm also increased its position in Sprint Nextel Corporation (NYSE:S), bringing it from 6 percent of its portfolio to more than 10 percent. Other major increases for the firm were Motorola Solutions Inc (NYSE:MSI), DISH Network Corp (NASDAQ:DISH), QUALCOMM, Inc. (NASDAQ:QCOM) and Citigroup Inc (NYSE:C).

Omega’s Position reductions and sell-offs

During the second quarter of the year, the firm sold off almost 3.7 million shares of Facebook Inc (NASDAQ:FB), completely exiting the stock. Other major exits for the firm during the quarter were Time Warner Cable Inc (NYSE:TWC) and a handful of metals stocks, including Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), SPDR Gold Trust (ETF) (NYSEARCA:GLD) and Market Vectors Gold Miners ETF (NYSEARCA:GDX).

Even though American International Group Inc (NYSE:AIG) remains in the firm’s top five list, it actually sold off almost 2 million shares of the insurer’s stock during the second quarter. Other position reductions worth noting include Merck & Co., Inc. (NYSE:MRK), Google Inc (NASDAQ:GOOG), LinnCo LLC (NASDAQ:LNCO), Linn Energy LLC (NASDAQ:LINE) and SLM Corp (NASDAQ:SLM), although like AIG, it also remained in the firm’s top five positions at the end of the second quarter.

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