In this piece, we will take a look at the stocks in which close to one third of Leon Cooperman’s latest investment portfolio is invested. If you want to learn more about the billionaire and what dividends are really about, then check out 50 Percent of Billionaire Cooperman’s Portfolio is Invested in These 12 Dividend Stocks.
5. Microsoft Corporation (NASDAQ:MSFT)
Number of Q4 2023 Hedge Fund Shareholders: 302
Cooperman’s Q4 2023 Stake: $92 million
Annual Dividend Yield: 0.71%
Microsoft Corporation (NASDAQ:MSFT) is one of the biggest technology companies in the world and one which has managed to place itself right at the center of global shift to artificial intelligence technologies. Therefore, it’s unsurprising that the stock is rated Strong Buy on average, with the average share price target of $423 being slightly higher than the current price.
During Q4 2023, 302 out of the 933 hedge funds profiled by Insider Monkey had bought Microsoft Corporation (NASDAQ:MSFT)’s shares. Michael Larson’s Bill & Melinda Gates Foundation Trust was the biggest shareholder due to its $14.3 billion stake.
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4. Devon Energy Corporation (NYSE:DVN)
Number of Q4 2023 Hedge Fund Shareholders: 50
Cooperman’s Q4 2023 Stake: $99 million
Annual Dividend Yield: 6.69%
Devon Energy Corporation (NYSE:DVN) is an American oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The firm has been doing well on the financial front as of late since it has beaten analyst EPS estimates in all four of its latest quarters.
Insider Monkey dug through 933 hedge fund portfolios for their December quarter of 2023 shareholdings and found that 50 had held a stake in the company. Devon Energy Corporation (NYSE:DVN)’s largest hedge fund investor is D. E. Shaw’s D E Shaw due to its $230 million investment.
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Follow Devon Energy Corp (NYSE:DVN)
3. Vertiv Holdings Co (NYSE:VRT)
Number of Q4 2023 Hedge Fund Shareholders: 75
Cooperman’s Q4 2023 Stake: $112 million
Annual Dividend Yield: 0.12%
Vertiv Holdings Co (NYSE:VRT) is an industrial equipment company that sells power management products and provides software services. The firm made a crucial announcement in March 2024 when it outlined that it had joined NVIDIA Corporation’s partner network for accelerated computing technologies and artificial intelligence workloads.
As 2023’s final quarter ended, 75 out of the 933 hedge funds covered by Insider Monkey’s research had bought and owned Vertiv Holdings Co (NYSE:VRT)’s shares. Philippe Laffont’s Coatue Management was the largest shareholder through its $663 million stake.
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Follow Vertiv Holdings Co (NYSE:VRT)
2. Lithia Motors, Inc. (NYSE:LAD)
Number of Q4 2023 Hedge Fund Shareholders: 27
Cooperman’s Q4 2023 Stake: $137 million
Annual Dividend Yield: 0.66%
Lithia Motors, Inc. (NYSE:LAD) is a car retailer that sells vehicles and also provides maintenance services. The firm has been busy expanding its operational footprint in 2024 and bought a rival firm in Minnesota with the potential of adding as much as $900 million in revenue.
Insider Monkey’s fourth quarter of 2023 survey covering 933 hedge funds revealed that 27 had invested in the firm. Lithia Motors, Inc. (NYSE:LAD)’s biggest investor in our database is David Abarms’s Abrams Capital Management as it owns $787 million worth of shares.
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Follow Lithia Motors Inc (NYSE:LAD)
1. Energy Transfer LP (NYSE:ET)
Number of Q4 2023 Hedge Fund Shareholders: 34
Cooperman’s Q4 2023 Stake: $166 million
Annual Dividend Yield: 8.11%
Energy Transfer LP (NYSE:ET) is an energy company headquartered in Dallas, Texas. It operates in the midstream transportation and storage segment of the oil and gas supply chain. The shares are rated Strong Buy on average, and the optimism might bear fruit if natural gas prices surge on the back of a shortage in the storage industry as some analysts and CEOs fear.
34 out of the 933 hedge funds tracked by Insider Monkey had invested in Energy Transfer LP (NYSE:ET) during Q4 2023. David Abarms’s Abrams Capital Management owned the largest stake which was worth $246 million.
Should you invest $1,000 in Energy Transfer right now?
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Disclosure: None. You can also take a look at 15 Best Places in Alabama for a Couple to Live on Only Social Security and 20 Largest Companies in the World by Market Cap in 2024.
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