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Leon Cooperman Sells $F, Reduces $UAL and Goes Crazy for $RIMM

Leon Cooperman, the billionaire behind Omega Advisors really shook things up in the third quarter. He sold out of big positions in large cap companies and placed bets on a few businesses that have had iffy performance.

Leon Cooperman Sold Position in Ford, Cut $UAL

Leon Cooperman reduced his portfolio from $4.4 billion at the end of June to $3.4 billion at the end of the third quarter. Cooperman also reduced the number of his positions. He had had 70 positions in June and now has just 59 positions. Cooperman completely sold out of Ford (F) and slashed his stake in United Continental (UAL).


Leon Cooperman Makes Big Bets on $RIMM, Others

Leon Cooperman is bullish on Reseearch in Motion (RIMM), the company that makes BlackBerry. RIMM has fallen almost 70% this year on competition from iPhone and Android phones and technical issues plaguing the BlackBerry platform. He bought a new position in the company in the third quarter of 1.425 million shares. Cooperman increased his stake in eBay (EBAY) and E*Trade (ETFC). He also bought new stakes in American Eagle Outfitters (AEO), Forest Oil (FST), McGraw Hill (MHP), Microsoft (MSFT), NYSE Euronext (NYX) and Qualcomm (QCOM). Cooperman doubled his stake in Apple (AAPL) as well.

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