Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Billionaire Leon Cooperman’s Top Picks and Two Positions He Doubled

Billionaire Leon G. Cooperman, the founder and Chief Executive Officer of multi-billion-dollar hedge fund Omega Advisors, has been an exceptional stock picker for decades. Earlier this year, the billionaire hedge fund manager and his hedge fund received a Wells notice from the Securities and Exchange Commission notifying that the agency plans to pursue an enforcement action over trading violations. Mr. Cooperman, widely known for his appearances at public investment conferences and interviews, said the SEC investigation relates to trading securities of Atlas Pipeline Partners LP that happened in July 2010, but he asserted that his $5.2 billion New York-based firm “can definitely prove we’ve done nothing wrong”. “We care about our reputation, and I am not going to let these guys change my legacy”, said the billionaire during a 15-minute investor call. Leaving this discussion aside, value-oriented retail investors need to have a look at Omega Advisors’ portfolio of holdings considering the fund’s strong performance since inception in 1991. That being said, the following article will discuss Mr. Cooperman’s three top equity positions as of the end of March, as well as two positions whose size was more than doubled during the first quarter of 2016.

At Insider Monkey, we track around 730 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see more details about our small-cap strategy).

Targa Resources Corp (NYSE:TRGP)

– Number of shares owned by Omega Advisors as of March 31: 2.72 Million

– Value of Omega Advisors’ holding as of March 31: $81.11 Million

Omega Advisors upped its stake in Targa Resources Corp (NYSE:TRGP) by 1.46 million shares during the first three months of 2016, ending the first quarter of the year with 2.72 million shares. The increased position was worth $81.11 million at the end of March and accounted for 2.2% of the fund’s public portfolio. The provider of midstream services has seen its shares advance an impressive 62% since the beginning of 2016. The company’s revenues for the first quarter of 2016 were $1.44 billion, down from $1.68 billion reported a year ago. The decrease was mainly driven by lower commodity prices, partly offset by the inclusion of two additional months of operations of the aforementioned Atlas Pipeline Partners LP acquired in early 2015. There were 27 hedge funds tracked by Insider Monkey with stakes in Targa Resources at the end of March, as compared to only 18 recorded at the end of December. Dan Loeb’s Third Point LLC acquired a new stake of 1.80 million shares of Targa Resources Corp (NYSE:TRGP) during the March quarter.

Follow Targa Resources Corp. (NYSE:TRGP)
Trade (NYSE:TRGP) Now!

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.