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14 Short Ideas From Billionaire Leon Cooperman

Leon Cooperman is the man behind Omega Advisors. Before that, he was worked at Goldman Sachs for 25 years, where he was a General Partner as well as Chairman and CEO of Asset Management. Here are 14 short ideas from the positions he sold out of in the second quarter:

OMEGA ADVISORS Leon Cooperman

 

  1. BP, Plc (BP): Cooperman sold out a $12.5 million position in BP during the second quarter. Since June, the stock has underperformed the market, losing 9.07%.
  2. Bank of America (BAC): Cooperman had a $33.8 million position in BAC before selling out in the second quarter. BAC has lost 43.47% since June.
  3. Citigroup (C): Cooperman sold his $35 million stake in Citigroup during the second quarter. Since the end of that quarter, the stock has lost almost 32%.
  4. Encana Corp (ECA): Cooperman owned a stake worth $33.5 million in ECA when he sold it during the second quarter. Since then, the stock has lost 31.75%.
  5. Genon Energy Inc (GEN): Cooperman had a $56.4 million position in this company before selling out in the second quarter. GEN has lost roughly 28% since the end of that quarter.
  6. Goodyear Tire & Rubber Co (GT): This was a $15.9 million position for Cooperman before he sold out in the second quarter. Since June, the company lost 26.83%.
  7. Hewlett Packard (HPQ): Cooperman had a stake in this company worth $24.3 million when he sold it in the second quarter. HPQ has lost 27.89% since the end of June.
  8. International Game Technology (IGT): This company was a $25.4 million position for Cooperman before he sold it in the second quarter. IGT has lost 6.91% since the end of that quarter.
  9. Microsoft (MSFT): Cooperman had a stake in MSFT worth $91.3 million when he sold it during the second quarter. Since the end of June, MSFT has beat the market, returning 5.53%. Microsoft is a popular choice for Boykin Curry’s Eagle Capital Management. It is his fund’s fifth largest position (see Boykin Curry’s top picks).
  10. PMI Group Inc (PMI): This was a $16.1 million position for Cooperman before he sold his stake in the company during the second quarter. Since the end of June, PMI has lost 72.90%.
  11. Qualcomm Inc (QCOM): Cooperman has $20.0 million in this company before he sold in the second quarter. Since June, QCOM has lost 2.76%. QCOM is popular with Lee Ainslie’s Maverick Capital (check out Lee Ainslie’s top picks).
  12. Radian Group Inc (RDN): Cooperman had a $21.9 million stake in this company before he sold out during the second quarter. Since June, RDN has lost 42.79%.
  13. Verizon Communications (VZ): This was a $77.8 million position for Cooperman before he sold out during the second quarter. Since the end of June, the company has made 3%. Jim Simons’ Renaissance Technologies is bullish on VZ (see more of Jim Simons’ top picks).
  14. Given Imaging Ltd (GIVN): This company was a $57.8 million position for Cooperman before he sold his stake in the second quarter. GIVN lost more than 20% since the end of June.
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