Billionaire Leon Cooperman’s Favorite Stock Picks

#3. Navient Corp (NASDAQ:NAVI)

– Shares Owned by Omega Advisors (as June 30): 13.8 Million

– Value of Omega’s Holding (as of June 30): $164.95 Million

Occupying the third position in Cooperman’s $3.5 billion equity portfolio as of June 30 was Navient Corp (NASDAQ:NAVI). Despite the fact that the fund sold 277,050 shares over the second quarter, Omega remained the largest institutional investor among those we track, trailed by Clint Carlson’s Carlson Capital, with 3.58 million shares. Shares of Navient Corp (NASDAQ:NAVI) have gained more than 25% year-to-date, and more than 22% since the start of the third quarter. The stock has been helped by a second quarter top and bottom line beat in July and, earlier this week, by the announcement that the company was exercising a call of $175 million in student loans, to be repaid October 25.

#2. First Data Corp (NYSE:FDC)

– Shares Owned by Omega Advisors (as June 30): 15.65 Million

– Value of Omega’s Holding (as of June 30): $173.28 Million

Same as in the previous quarter, First Data Corp (NYSE:FDC) was the second-largest equity stake in Omega’s equity portfolio. Over the quarter, the company saw the number of hedge funds in our database long its stock more than double to 35 from 17. Among them, Cooperman was the largest stockholder, trailed by Peter Adam Hochfelder’s Brahman Capital, which last disclosed ownership of 11.4 million shares, after more than doubling its exposure during the second quarter. Shares of First Data Corp (NYSE:FDC) have been pretty volatile this year and have lost almost 13% year-to-date. However, over the third quarter, its performance has been remarkably strong, having returned more than 25% on the back of strong second-quarter results posted on August 1, and, most recently, after Jefferies initiated coverage on the stock with a ‘Buy’ rating and $16.50 price target.

#1. Alphabet Inc (NASDAQ:GOOGL)

– Shares Owned by Omega Advisors (as June 30): 262,869

– Value of Omega’s Holding (as of June 30): $184.93 Million

Alphabet Inc (NASDAQ:GOOGL) is not only Cooperman’s top pick. Among the funds that we track, 135 were long Alphabet Inc (NASDAQ:GOOGL)’s Class A stock, while 126 were long Alphabet Inc (NASDAQ:GOOG)’s Class C stock at the end of June. Among the largest shareholders as of June 30 is Viking Global, holding 1.79 million Class A shares worth roughly $1.26 billion and 841,255 Class C shares worth about $582 million. Alphabet Inc (NASDAQ:GOOGL) is constantly in the spotlight, but its shares have gained only 1.75% year-to-date. However, during the third quarter, the gains reached almost 14%. On Wednesday, Cooperman appeared on CNBC and said that Alphabet offers “a ‘fortress-like’ balance sheet and a creative, innovative management team.” It’s a must-have stock; “It doesn’t take any special intellect to be long Google,” he concluded.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.