13-F Alert: Leon Cooperman's Omega Advisors Dumps Apple, Buys Facebook
Leon Cooperman's Omega Advisors hedge fund released its quarterly 13-F filing with the SEC on Wednesday, showing that his firm dumped its entire stake in Apple (NASDAQ: AAPL) during the quarter.
Previously, Cooperman had been publicly bullish on the stock and it was the fund's second largest position during the third quarter of 2012. For the quarter ending September 30, 2012 Omega owned around 266,000 Apple shares valued at roughly $178 million.
In the firm's most recent 13-F filing, however, which offers a snapshot of Omega's long equity portfolio as of December 31, 2012 the hedge fund had completely liquidated the position. On September 30, 2012 Apple was trading near all-time highs at around $660. By December 30, 2012 the stock had fallen to around $532.
Among the sellers during the decline in the stock in the fourth-quarter of 2012 was Leon Cooperman and Omega Advisors. The latest 13-F filing from Omega shows that the fund retained American International Group (NYSE: AIG) as its largest holding in the quarter, with a nearly 8 million share stake valued at roughly $275 million.
Other large positions for Cooperman include Altisource Portfolio Solutions (NASDAQ: ASPS), Atlas Energy (NYSE: ATLS), Atlas Pipeline Partners (NYSE: APL), Boston Scientific (NYSE: BSX), Capital One Financial (NYSE: COF), Dish Network (NASDAQ: DISH), Express Scripts (NASDAQ: ESRX), Freeport-McMoran (NYSE: FCX), Halliburton (NYSE: HAL), Humana (NYSE: HUM), Kinder Morgan Inc. (NYSE: KMI), and KKR Financial Holdings (NYSE: KFN).
Omega also unveiled a new stake in Facebook (NASDAQ: FB), which had a very strong fourth-quarter. The hedge fund owned around three million FB shares valued at $84 million as of December 31, 2012.
Over the last 6 months, Facebook's stock is up 30 percent and on the 3 month chart the shares have climbed almost 41 percent. On Wednesday, the stock spiked intra-day after Omega's 13-F was released. At last check, FB was up around 2 percent and was trading just below $28.
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