Billionaire Leon Cooperman’s Largest High Dividend Picks

With the first quarter of 2014 behind us, we are eagerly awaiting the 13F filings of hedge fund managers, which will provide insight into which stocks they have been buying and selling during the first three months of the year. One fund that we closely track is Omega Advisors, managed by Leon Cooperman, which manages approximately $7.0 billion in equities. Here we will focus on his largest positions in stocks paying high dividends, or those with yields above 5%.

Leon Cooperman Omega Advisors

First on the list is Atlas Pipeline Partners LP (NYSE:APL), a $2.7 billion market cap oil and gas pipeline company of which Cooperman owned 3.3 million shares as of December 31, 2013. Subsequently, in February, he disclosed increasing his stake to 7.8 million shares, or a 9.7% stake. As a master limited partnership (MLP), Atlas pays a regular quarterly dividend of $0.62 per share that equates to a hefty yield of 7.9% on an annualized basis.

Omega’s second largest high yield stock position is Chimera Investment Corporation (NYSE:CIM), in which it held 62.1 million shares as of year-end 2013. Again, in February, the fund disclosed a slight increase in its position to 63.3 million shares, or a 6.2% stake, maintaining his position as the largest shareholder. Chimera is a $3.2 billion market cap mortgage real estate investment trust (REIT) that pays a regular quarterly dividend of $0.09, for a yield of 11.9%. The company also paid a $0.20 special dividend in early January.

Third on the list is Gaming and Leisure Properties, Inc. (NASDAQ:GLPI), with Cooperman’s 2.2 million shares accounting for a 2.0% stake in the company. As its name implies, the $3.3 billion REIT, which went public in mid-October 2013, focuses on managing gaming and leisure properties and related facilities. Its regular quarterly dividend of $0.52 per share equates to an annual yield of 5.7%. In addition, it paid a special dividend of $11.85 per share at the beginning of the year.

Cooperman’s fourth largest high yielding stock is KKR Financial Holdings LLC (NYSE:KFN), a $2.4 billion specialty finance company in which he owns 15.1 million shares, or a 7.4% stake. KKR Financial is a holding company managed by private equity firm KKR & Co. LP (NYSE:KKR) that invests in primarily in debt securities. Its quarterly dividend of $0.22 per share equals an annualized yield of 7.7%. In December 2013, KKR announced it would acquire KFN, with closing expected sometime during the first half of 2014.

Fifth on the list of high dividend stocks is Transocean Ltd. (NYSE:RIG), in which Cooperman owns 2.9 million shares, or a 0.8% stake. Transocean is a $14.9 billion market cap company that provides offshore contract drilling services for oil and gas wells globally. Its quarterly dividend of $0.56 per share is equal to a 2.2% yield. In November 2013, following pressure from activist investor Carl Icahn’s Icahn Capital LP, the company announced plans to spin-off some of its drilling rigs into a master limited partnership and conduct an IPO.

Disclosure: none

Recommended Reading:

Billionaire Leon Cooperman Buys Shares of PennyMac Financial Services Inc (PFSI)

Leon Cooperman is Bullish on London-listed Monitise Plc (MONI) and Raises Stake to 10.9%

Leon Cooperman Discusses His Favorite Picks: American International Group Inc (AIG), SandRidge Energy Inc. (SD) & Others

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!