Omega's Leon Cooperman Dumps Apple, Buys Facebook and Other Key Stocks

Leon Cooperman of Omega Advisors, Inc. is a hedge fund manager that can move stocks. The newest 13-F filing at the SEC shows that he made some significant portfolio changes as of the end of Q4-2012.

The most notable holding change is that Cooperman’s Omega has cleared out its entire position in Apple Inc. (NASDAQ: AAPL). The apparent heir replacing Apple in the portfolio is social networking giant Facebook, Inc. (NASDAQ: FB). The Facebook position was some 3,161,300 shares worth some $84.15 million at the time. The Apple position at the end of the third quarter was worth some $177 million.

Another new position is Crocs Inc. (NASDAQ: CROX), whereby Cooperman had some 2,149,340 common shares worth about $30.9 million. Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) is another new position for Cooperman at more than 3.1 million shares worth some $106.2 million.

Harbinger Group Inc. (NYSE: HRG) was another new position for Cooperman. He held 5 million shares worth some $38.45 million at the end of 2012.

SandRidge Energy, Inc. (NYSE: SD) was shown to be a new position of some 24,378,545 shares worth some $154.8 million; Transocean Ltd. (NYSE: RIG) was another new position of 3,115,545 shares worth some $139 million.

Another small position was taken in Verifone Systems Inc. (NYSE: PAY) and it was listed as being some 1,258,273 shares worth $37.3 million.

JON C. OGG