Leon Cooperman’s Omega Advisors discloses new positions in 1Q14

Overview: Omega Advisors discloses new positions in 1Q14 (Part 1 of 6)

Omega Advisors new positions in 1Q14

Omega Advisors Inc. is a New York-based investment advisory firm founded in 1991 by Leon G. Cooperman. In this series, we’ll discuss the main positions traded by the firm in 1Q14 in its $7.54 billion U.S. long portfolio. Omega added new positions in Dollar General (DG), ADT Corp. (ADT), and Time Warner Cable (TWC). Top positions sold were T-Mobile U.S. (TMUS) and General Motors (GM).

In 2013, Cooperman’s Omega Advisors reported net returns of 30%, following up on a 25% net gain in 2012. Cooperman told CNBC in an interview last month that his main stock picks included financials, such as AIG, Citigroup, and JPMorgan. According to the 1Q filing, Cooperman boosted his stakes in JPMorgan Chase (JPM) and Citigroup (C). The top ten positions of the fund are outlined below.

The CNBC report also cited Cooperman as saying that he had exited iPhone maker Apple (AAPL) around $650 per share and bought chipmaker Qualcomm (QCOM). However, he restarted a position in Apple in the “low $500s.”

Continue to Part 2

Browse this series on Market Realist:

• Part 2 - Omega Advisors adds new position in Dollar General

• Part 3 - Why Omega Advisors initiates new position in ADT

• Part 4 - Why Omega Advisors establishes position in Time Warner Cable