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Tuesday, February 18, 2020

Leon Cooperman: top 6 buys in the 4th quarter

Leon Cooperman, founder and chairman of the Omega Advisors family office, disclosed this week that his firm's top six buys for the fourth quarter of 2019 included new holdings in Ferro Corp. (NYSE:FOE) and Workday Inc. (NASDAQ:WDAY) as well as position boosts in four existing holdings: DuPont de Nemours Inc. (NYSE:DD), Energy Transfer LP (NYSE:ET), Diamondback Energy Inc. (NASDAQ:FANG) and Mr. Cooper Group Inc. (NASDAQ:COOP).

Cooperman, who previously worked at Goldman Sachs Group Inc. (NYSE:GS), converted his Omega hedge fund into a family office in 2018, citing in a letter that he did not wish to spend the rest of his life chasing the Standard & Poor's 500 Index benchmark. The fund chairman combines his macroeconomic views and fundamental valuation in his investing strategy, paying close attention to valuations.

As of quarter-end, Omega's $1.88 billion equity portfolio contains 60 stocks, with turnover of 9%. The top three sectors in terms of weight are financial services, energy and communication services, with weights of 24.07%, 17.85% and 11.73%.

Charts 6 months later: 

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