Insights from the Seasoned Investor's Latest 13F Filings
Leon Cooperman (Trades, Portfolio), a distinguished figure in the investment world, has revealed his latest market maneuvers with the submission of his 13F report for Q3 2023. As a Columbia University alumnus and former CEO and Chairman of Goldman Sachs Asset Management, Cooperman's transition to a family office in 2018 has not diminished his influence. His investment approach marries a macro perspective with a keen eye for fundamental valuation, balancing market predictions with a rigorous assessment of market valuations.
New Additions to Cooperman's Portfolio
Leon Cooperman (Trades, Portfolio)'s Omega Advisors has strategically expanded its portfolio by adding five new stocks in the third quarter of 2023. Noteworthy among these additions are:
- Elevance Health Inc (ELV, Financial), with a purchase of 60,000 shares, now represents 1.45% of the portfolio, amounting to a significant $26.66 million investment.
- DT Midstream Inc (DTM, Financial), with a new holding of 300,000 shares, making up 0.81% of the portfolio, valued at $14.87 million.
- Fidelis Insurance Holdings Ltd (FIHL, Financial), with 457,844 shares, accounting for 0.34% of the portfolio, with a total investment of $6.25 million.
Significant Increases in Existing Holdings
Cooperman's recent filings also indicate a bolstering of positions in 14 existing stocks, with the most significant increases being:
- Citigroup Inc (C, Financial), where Cooperman added 305,000 shares, bringing the total to 700,000 shares. This represents a 77.22% increase in share count and a 0.76% impact on the current portfolio, valued at $32.23 million.
- WillScot Mobile Mini Holdings Corp (WSC, Financial), with an additional 250,000 shares, increasing the total to 2,250,000 shares. This adjustment marks a 12.5% increase in share count, with a total value of $107.53 million.
Exiting Positions
In a move to refine his investment strategy, Cooperman has completely divested from five holdings in the third quarter of 2023:
- Aspen Group Inc (ASPU, Financial), where all 2,470,000 shares were sold, impacting the portfolio by -0.31%.
- Ocwen Financial Corp (OCN, Financial), with the liquidation of all 90,000 shares, causing a -0.15% impact on the portfolio.
Reductions in Key Positions
Cooperman's portfolio adjustments also included reductions in nine stocks, with the most substantial being:
- A reduction in Alphabet Inc (GOOGL, Financial) by 200,000 shares, leading to a -23.53% decrease in shares and a -1.25% impact on the portfolio. The stock traded at an average price of $114.92 during the quarter and has seen a 1.95% return over the past three months and a 49.71% year-to-date return.
- A reduction in Chimera Investment Corp (CIM, Financial) by 2,511,494 shares, resulting in a -98.79% reduction in shares and a -0.88% impact on the portfolio. The stock traded at an average price of $5.31 during the quarter and has returned -16.88% over the past three months and -5.46% year-to-date.
Portfolio Overview
As of the third quarter of 2023, Leon Cooperman (Trades, Portfolio)'s portfolio is composed of 54 stocks. The top holdings include 8.39% in Mr. Cooper Group Inc (COOP, Financial), 8.2% in Energy Transfer LP (ET, Financial), 6.84% in Lithia Motors Inc (LAD, Financial), 6.77% in Apollo Global Management Inc (APO, Financial), and 6.03% in Devon Energy Corp (DVN, Financial). The investments are primarily concentrated in the leading sectors of the market.
For value investors and those seeking to emulate the strategies of seasoned gurus like Leon Cooperman (Trades, Portfolio), these insights provide a valuable glimpse into the thought process of a top-tier investor. Stay informed on the latest 13F filings and investment trends with GuruFocus.com.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
