Leon Cooperman’s Performance in 2021: 10 Best Stock Picks

Published January 24, 2022 at 1:13 pm EST Updated September 7, 2026 at 1:56 pm EDT

In this article, we discuss Leon Cooperman’s 10 best performing stocks in 2021.

Leon Cooperman is an American billionaire hedge fund manager and long-time investor. He is best known in the financial circles for founding Omega Advisors in 1991, which is a New York-based investment advisory firm. He served as the chairman and chief investment officer of Omega Advisors until 2016, before converting Omega into a family office, where majority of the $1.8 billion Q3 portfolio consists of his own personal wealth.

After graduating from Columbia University, Cooperman started his career at The Goldman Sachs Group, Inc. (NYSE:GS), where he eventually gained a reputation as their number one portfolio strategist. In 1991, Cooperman retired from The Goldman Sachs Group, Inc. (NYSE:GS) after 25 years of serving in multiple roles including chairman and chief executive officer of Goldman Sachs Asset Management. He then established Omega Advisors.

“Stocks Are The Best Place To Be”

Leon Cooperman believes that as the economy has rebounded from the COVID-19 pandemic, the stock market has grown stagnant, and he doesn’t rely on major indexes or averages anymore. The billionaire believes that selecting the correct stocks will help investors successfully navigate the stock market. He stated that as long as the cyclical forces that determine the course of the stock market remain positively positioned, he will stay largely invested, as “stocks are the best place to be”.

According to Cooperman, bonds make a good short, and big tech stocks like Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:FB) should be given more consideration based on their multiples alone. Cooperman believes that they might seem overpriced or overvalued in the short-term, but if the economy is going to grow and interest rates increase, these blue chip stocks are not overvalued.

Billionaire Leon Cooperman is willing to invest in all kinds of stocks at the right price, and he considers strong free cash flow and good company management while picking securities, rather than the company’s popularity among investors. He also has a particular interest in dividend investing.

The most notable stock picks of Leon Cooperman in the third quarter of 2021 include Alphabet Inc. (NASDAQ:GOOG), General Motors Company (NYSE:GM), and Alibaba Group Holding Limited (NYSE:BABA).

Leon Cooperman's Performance in 2021: 10 Best Stock Picks

Our Methodology

We used Leon Cooperman’s Q3 portfolio to select the 10 best performing stocks that the billionaire has consistently held in the first, second, and third quarters of 2021. For each stock, we have mentioned its 2021 performance.

Leon Cooperman’s Performance in 2021: Best Stock Picks

10. Falcon Minerals Corporation (NASDAQ:FLMN)

Omega Advisors’ Stake Value: $8,225,000

Percentage of Omega Advisors’ 13F Portfolio: 0.42%

Number of Hedge Fund Holders: 19

Gain in 2021: 44.47%

Falcon Minerals Corporation (NASDAQ:FLMN) is an oil and gas minerals company which has rights for mineral extraction in the Eagle Ford Shale, based in South Texas. The shares gained 44.47% in 2021, which makes Falcon Minerals Corporation one of the best performing stocks in Leon Cooperman’s third quarter portfolio.

Cooperman acquired a stake in Falcon Minerals Corporation in the second quarter of 2019, and has consistently increased his position in the company after Q3 2020. Cooperman owns an $8.2 million position in Falcon Minerals Corporation as of Q3 2021, which accounts for 0.42% of his Q3 portfolio.

On November 3, Falcon Minerals Corporation declared a $0.155 per share quarterly dividend, which is a 3.3% increase from the prior dividend of $0.150. The dividend was paid on December 8, to shareholders of record on November 23. As of January 21, Falcon Minerals Corporation delivers a dividend yield of 12.97%.

Desert Peak Minerals and Falcon Minerals Corporation announced on January 12 that they have entered into an agreement to combine in an all-stock transaction valued at $1.9 billion. The combination will create a mineral and royalty company with a significant footprint in the Permian Basin and Eagle Ford. The transaction is expected to close in the second quarter of 2022, subject to the approval of Falcon Minerals Corporation’s shareholders. Blackstone, which currently owns 40.6% of the voting power of Falcon Minerals Corporation, is in favor of the transaction.

Stifel analyst Derrick Whitfield classified Falcon Minerals Corporation’s agreement to merge with Desert Peak Minerals as “transformative,” noting that the combined company will have a significant footprint and be managed by the Desert Peak management team. The analyst also noted that management will pay out majority of the cash flow to shareholders, reiterating a Buy rating and a 12-month price target of $8 on Falcon Minerals Corporation on January 12.

In the third quarter of 2021, 19 hedge funds were long Falcon Minerals Corporation, down from 25 funds in the prior quarter. Nantahala Capital Management is the leading company stakeholder, with an $11.7 million position.

9. Chimera Investment Corporation (NYSE:CIM)

Omega Advisors’ Stake Value: $50,453,000

Percentage of Omega Advisors’ 13F Portfolio: 2.67%

Number of Hedge Fund Holders: 16

Gain in 2021: 53.45%

Chimera Investment Corporation (NYSE:CIM) is a New York-based real estate investment trust which primarily focuses on residential mortgage loans, asset securitization, and mortgage-backed securities. The stock gained 53.45% in 2021, making it one of the top performing companies from Leon Cooperman’s third quarter portfolio.

Cooperman purchased a stake in Chimera Investment Corporation in the first quarter of 2015, and kept adding to his position until Q3 2015. The billionaire reduced his position to only 60,000 shares in Q4 2016, and kept it constant until Q1 2019, when he elevated his stake and bought approximately 4.2 million Chimera Investment Corporation shares. As of the third quarter of 2021, Cooperman owns 3.39 million shares of the company, worth $50.4 million, representing 2.67% of his total Q3 investments.

Chimera Investment Corporation on December 2 declared a $0.33 per share quarterly dividend, in line with previous. The dividend is payable on January 27, to shareholders of record on December 30. As of January 21, Chimera Investment Corporation offers a dividend yield of 9.49%.

On January 10, Barclays analyst Mark DeVries raised the price target on Chimera Investment Corporation to $14 from $11 and kept an Underweight rating on the shares. Conservative expectations for growth, credit, and capital returns biasing estimates higher and below historical multiples should drive stock outperformance in 2022, the analyst tells investors in a research note.

Among the hedge funds tracked by Insider Monkey, Arrowstreet Capital is the largest Chimera Investment Corporation stakeholder, holding 4.8 million shares worth $71.6 million. Overall, 16 hedge funds were bullish on the stock in the third quarter of 2021.

In addition to Alphabet Inc., General Motors Company, and Alibaba Group Holding Limited, Chimera Investment Corporation is a notable stock from Leon Cooperman’s third quarter 13F portfolio.

8. MP Materials Corp. (NYSE:MP)

Omega Advisors’ Stake Value: $76,758,000

Percentage of Omega Advisors’ 13F Portfolio: 4.06%

Number of Hedge Fund Holders: 20

Gain in 2021: 55.31%

MP Materials Corp. (NYSE:MP) is a mining company based in Las Vegas, Nevada, which owns the sole rare earth mine and processing facility in the United States. MP Materials Corp. extracts rare earths in concentrate, which are used to power electric vehicles, robotics, wind turbines, drones, and other advanced motion technologies.

Leon Cooperman acquired 2.4 million MP Materials Corp. shares in the fourth quarter of 2020, and kept his stake constant till Q2 2021. In the third quarter, he reduced his position in MP Materials Corp. by 1.83%, and holds 2.3 million shares amounting to $76.75 million. The stock accounts for 4.06% of the billionaire’s Q3 investments.

On December 9, MP Materials Corp. announced that it will build its initial rare earth, metal, alloy, and magnet manufacturing facility in Fort Worth, Texas. The company also disclosed that it has entered a binding, long-term agreement with General Motors Company to supply rare earth materials, alloy, and finished magnets sourced and manufactured in the US for the electric motors in more than a dozen models using General Motors Company’s Ultium Platform.

BofA analyst Lawson Winder initiated coverage of MP Materials Corp. on November 30 with a Buy rating and a $52 price target. The analyst views the company as a “critical raw material supplier” for electric vehicles, also noting that his price target assumes an 18-times expected 2023 EBITDA multiple.

According to Insider Monkey’s Q3 data, 20 hedge funds were bullish on MP Materials Corp., with stakes totaling $2.18 billion.

7. Microsoft Corporation (NASDAQ:MSFT)

Omega Advisors’ Stake Value: $69,269,000

Percentage of Omega Advisors’ 13F Portfolio: 3.67%

Number of Hedge Fund Holders: 250

Gain in 2021: 55.87%

Microsoft Corporation’s shares gained 55.87% in 2021, making the US tech giant one of the top performing stocks from Leon Cooperman’s Q3 portfolio. Cooperman first acquired his Microsoft Corporation stake in Q4 2010, but he did not consistently keep the stock in his portfolio over the years. Microsoft Corporation has been a constant position in Cooperman’s 13F portfolio since Q4 2015. As of the third quarter of 2021, the billionaire owns 245,705 shares of Microsoft Corporation, worth $69.2 million, representing 3.67% of his total securities.

Elite hedge funds are bullish on Microsoft Corporation as of Q3 2021, with 250 funds holding stakes in the company worth $65.8 billion, as per Insider Monkey’s database. Fisher Asset Management is the biggest Microsoft Corporation stakeholder, owning 25.5 million shares, valued at $7.1 billion.

In addition to MSFT, Alphabet Inc., General Motors Company, and Alibaba Group Holding Limited is a notable stock pick of Leon Cooperman.

Here is what Claret Asset Management has to say about Microsoft Corporation in its Q4 2021 investor letter:

“Our biggest undertaking in 2021 was a conversion of our technology platform from a local area network within our office to having our proprietary network all in the “cloud.” We have chosen Microsoft Corporation and their Azure system as our partner, as we feel they are the best positioned to service our network, which includes Microsoft 365 Office, their data facilities all in Quebec and Ontario and as they learn the products in depth, we feel they are best able to defend each endpoint against any cyber attacks that may create havoc for us and for our clients. We want to protect your privacy and ours, and offer you a seamless and confidential information environment. Additionally, the IT engineering firm we use to ensure 24/7 coverage of our system and the operation of the equipment to optimize our service levels and the integrity of our reporting and data protection. In 2021, we completed our client reporting migration to Croesus and we now have client portals for each client and relationship – if you haven’t signed in yet, please do so as all your documents and quarterly reports can be made available for you to view at your convenience in the “privacy” of your own personal devices whether desktop or mobile. You are able to store these documents in a secure environment, eliminating the need to keep “paper” copies if you prefer.”

6. Pioneer Natural Resources Company (NYSE:PXD)

Omega Advisors’ Stake Value: $23,311,000

Percentage of Omega Advisors’ 13F Portfolio: 1.23%

Number of Hedge Fund Holders: 48

Gain in 2021: 59.74%

Pioneer Natural Resources Company (NYSE:PXD) is a Texas-based company involved in hydrocarbon exploration, supplying petroleum, natural gas, and natural gas condensate.

Leon Cooperman initially purchased a stake in Pioneer Natural Resources Company in Q2 2016, but sold his shares in the next quarter. He invested in Pioneer Natural Resources Company again in the first quarter of 2021, buying 80,000 shares of the company. He elevated his stake in Q2 2021 to 140,000 shares, which are worth $23.3 million as of September 2021, representing 1.23% of the billionaire’s total Q3 investments.

On November 3, Pioneer Natural Resources Company declared a $0.62 per share quarterly dividend, which is a 10.7% increase from its prior dividend of $0.56. The dividend was paid on January 14, to shareholders of record on December 31. The company also announced on November 3 a $3.02 per share special dividend, which was distributed on December 14.

Truist analyst Neal Dingmann on January 14 raised the price target on Pioneer Natural Resources Company to $230 from $214 and kept a Hold rating on the shares as part of a broader research note updating his Exploration & Production group model.

A total of 48 hedge funds were long Pioneer Natural Resources Company in the third quarter of 2021, and Adage Capital Management is the largest stakeholder of the company, with 1.5 million shares worth $262.4 million.

Like Alphabet Inc., General Motors Company, and Alibaba Group Holding Limited, Pioneer Natural Resources Company is a popular stock among the smart money.

Here is what ClearBridge Investments Dividend Strategy has to say about Pioneer Natural Resources Company in its Q3 2021 investor letter:

“Over the last year we have also added a position in Pioneer Natural Resources, a best-in-class producer in the Permian Basin. We added Pioneer as we anticipated rising commodity prices and sought more direct leverage to that trend. Our overweight to energy has benefited our performance this year, in particular through the first half of the year, and we believe the sector, still less than 3% of the S&P 500, remains underinvested and attractive going forward.”

5. Motorola Solutions, Inc. (NYSE:MSI)

Omega Advisors’ Stake Value: $23,232,000

Percentage of Omega Advisors’ 13F Portfolio: 1.23%

Number of Hedge Fund Holders: 34

Gain in 2021: 61.84%

Motorola Solutions, Inc. (NYSE:MSI) is a Chicago-based provider of mission-critical communications equipment, command center software, video security and analytics, and technical support services. Leon Cooperman owns 100,000 Motorola Solutions, Inc. shares as of Q3 2021, worth $23.2 million, representing 1.23% of his 13F securities. Motorola Solutions, Inc. shares gained 61.84% in 2021, making it one of the billionaire’s top performing stock picks.

On November 18, Motorola Solutions, Inc. declared a $0.79 per share quarterly dividend, which reflects an 11.3% increase from the prior dividend of $0.71. The dividend was paid on January 14, to shareholders of record on December 15.

The U.S. Department of Defense on January 11 initiated a contract worth $29 million with Motorola Solutions, Inc., which will extend the operations and maintenance of the U.S. Navy’s land mobile radio LMR system. Under this contract, Motorola Solutions, Inc. will provide maintenance of hardware and software, equipment repair and replacement, management of software licenses, asset and configuration management, password management, vulnerability scanning, and benchmark testing.

Argus analyst Jim Kelleher upgraded Motorola Solutions, Inc. to Buy from Hold with a $280 price target on November 11.

Among the hedge funds tracked by Insider Monkey in Q3 2021, Orbis Investment Management is the largest Motorola Solutions, Inc. stakeholder, owning a $484.3 million position in the company. Overall, 34 hedge funds were bullish on the stock in the third quarter.

Here is what Wedgewood Partners has to say about Motorola Solutions, Inc. in its Q4 2021 investor letter:

“Top fourth quarter performance contributors include Motorola Solutions. Motorola Solutions generated +13% revenue growth and drove over +20% earnings per share growth as it sold a higher mix of high-margin, recurring software, with Company-wide margins well above-above pre-COVID peaks. Motorola is a key partner with public safety and corporate customers who operate land mobile radio (LMR) networks for decades, which requires numerous software updates and constant cybersecurity support. Further, the Company has amassed a suite of software offerings that manage public safety emergency and 911 call center workflows. We expect Motorola’s core public safety market to continue adopting these software and service solutions that drive higher productivity in the face of chronic labor shortages.”

4. Gannett Co., Inc. (NYSE:GCI)

Omega Advisors’ Stake Value: $10,321,000

Percentage of Omega Advisors’ 13F Portfolio: 0.54%

Number of Hedge Fund Holders: 18

Gain in 2021: 64.98%

Headquartered in Virginia, Gannett Co., Inc. (NYSE:GCI) is a mass media holding company that is the leading U.S. newspaper publisher as measured by total daily circulation. Gannett Co., Inc. owns the national newspaper, USA Today, and several local newspapers in different states.

Leon Cooperman acquired a position in Gannett Co., Inc. in the fourth quarter of 2019, buying over 7.5 million shares of the company. He has reduced his stake since acquisition, and holds 1.5 million Gannett Co., Inc. shares as of Q3 2021, worth $10.3 million, representing 0.54% of his total third quarter investments.

Of the 18 hedge funds that were bullish on Gannett Co., Inc. in the third quarter of 2021, Ophir Asset Management is the biggest stakeholder of the company, with 7.2 million shares, valued at $48.75 million.

Gannett Co., Inc. has also participated in the NFT and crypto frenzy that is taking over the market. The company announced on November 22 that it will auction NFTs in collaboration with American contemporary artist Peter Tunney. The highest bidder of the “LIBERTY” NFT will also receive the original painting created exclusively for Gannett Co., Inc. by Peter Tunney. The auction will be hosted on OpenSea, the first and largest marketplace for NFTs. This is Gannett Co., Inc.’s second NFT auction, following its inaugural auction in June.

Here is what Miller Value Partners has to say about Gannett Co., Inc. in its Q3 2021 investor letter:

“During the quarter, our only significant positive contributor was Gannett (GCI), which was up in excess of 20%. Management has an aggressive transformation plan that is starting to gain operational traction. Their content subscribers are beginning to scale and should eventually provide an attractive recurring revenue and cash flow stream that will allow the enterprise to return to growth. Achieving their 10M digital subscriber target should generate close to $1B in high margin annual subscription revenue. Secondly, Gannett is aggressively scaling a Digital Marketing Solutions (“DMS”) and Event/Promotion business. DMS currently serves more than 20K small- to medium- sized businesses, with only a 2% market share of a large market (>$18B); Gannet has a significant upcoming growth opportunity. Management is targeting more than $1B in combined revenue from these two efforts over the next couple of years. It is worth highlighting that similar businesses today in the marketplace are being valued at more than 5x revenue. Success of these new growth initiatives could generate more than $2B revenue at higher than average company margins. Even with the recent price increase, we believe Gannett still has limited success from the transformation reflected in its share price, as it has one of the lowest price-to-sales multiples in the marketplace (currently at .25x). The transformation plan has the potential to unlock significant additional equity value as the business mix shifts, free cash flow generation accelerates (normalized free cash flow yield >50%), and their valuation multiples start to narrow with the significant discount to their public company peers.

We invest in our companies with a long-term perspective. Our process is focused on understanding the fundamentals of the business and long-term fundamental value. We roll up our sleeves and dive deep into the names we hold, regularly speaking with management to better understand the asset base and key drivers of the business model. We see this as an advantage in periods where our companies may see short-term fluctuations in their share price, such as what happened in the third quarter. We are looking for embedded value that has significant realization potential over a time horizon much longer than the market’s somewhat shorter-term view.”

3. Alphabet Inc. (NASDAQ:GOOG)

Omega Advisors’ Stake Value: $160,411,000

Percentage of Omega Advisors’ 13F Portfolio: 8.50%

Number of Hedge Fund Holders: 156

Gain in 2021: 68.96%

Alphabet Inc., the parent company of Google, is the second largest holding in Leon Cooperman’s third quarter portfolio. Alphabet Inc.’s solid Q3 results, with above consensus EPS and revenue, as well as the 67% share gain in 2021, makes it one of Cooperman’s best stock picks from the period.

Cooperman first invested in Alphabet Inc. back in Q3 2015, and held his stake in the tech giant over the years, before he sold out of it completely in Q2 2020, only to buy back 60,000 Alphabet Inc. shares in the next quarter. As of Q3 2021, Cooperman’s Alphabet Inc. stake is worth $160.4 million, representing 8.50% of his total 13F securities.

On January 19, BofA analyst Justin Post raised the price target on Alphabet Inc. to $3,470 from $3,210 and kept a Buy rating on the shares. The analyst expects deceleration in 2022 versus the 41% estimated search growth in 2021, but he thinks Google is still early in its application of artificial intelligence and machine learning technology across its ad stack.

Hedge funds in the third quarter of 2021 had a bullish sentiment on Alphabet Inc., with 156 funds holding stakes worth approximately $35 billion in the tech giant. TCI Fund Management is the leading stakeholder of the company, owning a $7.8 billion position.

Here is what Oakmark Funds’ Bill Nygren Commentary has to say about Alphabet Inc. in its Q4 2021 investor letter:

“For Alphabet, we add back its research spending on Waymo and “other bets” and add an asset for the value of those money-losing ventures. We also value cash separate from the business because if you valued cash at a normal P/E today, you’d be valuing it at pennies on the dollar. When we make our adjustments to Alphabet’s financials, we own its wonderful search business at less than the S&P multiple, which we consider to be a bargain.”

2. WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Omega Advisors’ Stake Value: $53,891,000

Percentage of Omega Advisors’ 13F Portfolio: 2.85%

Number of Hedge Fund Holders: 56

Gain in 2021: 73.84%

WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) is a company offering modular space and portable storage solutions in the United States, Canada, Mexico, and the United Kingdom to multiple commercial and industrial sectors.

Billionaire Leon Cooperman purchased a stake in WillScot Mobile Mini Holdings Corp. in the fourth quarter of 2020, buying 650,085 shares. Over time, he has increased his position in WillScot Mobile Mini Holdings Corp., and as of Q3 2021, Cooperman owns 1.69 million shares worth $53.8 million. The stock accounts for 2.85% of Cooperman’s Q3 13F portfolio.

Oppenheimer analyst Scott Schneeberger raised the price target on WillScot Mobile Mini Holdings Corp. to $42 from $36 and kept an Outperform rating on the shares on November 9. The analyst noted that the company held ambitious yet achievable objectives for the coming 3 to 5 years.

According to Insider Monkey’s Q3 database, 56 hedge funds were long WillScot Mobile Mini Holdings Corp., with stakes totaling approximately $2 billion. This is compared to 52 funds holding stakes worth $1.39 billion in WillScot Mobile Mini Holdings Corp. in the preceding quarter.

Here is what Bernzott Capital Advisors has to say about WillScot Mobile Mini Holdings Corp. in its Q3 2021 investor letter:

“WillScot Mobile Mini (WSC): This modular and portable storage space company posted strong earnings with attractive growth in rental rates as it increases penetration of value-added products and services such as units equipped with HVAC, ethernet ports, and plumbing. The company is executing well on its Mobile Mini merger. Cash flow generation continues to be a notable positive.”

1. Devon Energy Corporation (NYSE:DVN)

Omega Advisors’ Stake Value: $110,794,000

Percentage of Omega Advisors’ 13F Portfolio: 5.87%

Number of Hedge Fund Holders: 48

Gain in 2021: 170.73%

Devon Energy Corporation (NYSE:DVN) is an Oklahoma-based energy company that specializes in the exploration and production of oil, natural gas, and natural gas liquids in the United States. Devon Energy Corporation is the top performing stock pick of Leon Cooperman from the third quarter of 2021, with the shares gaining approximately 171% in 2021.

Cooperman acquired a position in Devon Energy Corporation in Q1 2021, buying 3.12 million shares of the company. As of the third quarter, Cooperman’s stake in Devon Energy Corporation is valued at $110.7 million, representing 5.87% of the billionaire’s Q3 securities.

On December 8, Devon Energy Corporation declared a $0.84 per share quarterly dividend, which is a 71.4% increase from its prior dividend of $0.49. The dividend was paid on December 30, to shareholders of record on December 10.

Goldman Sachs analyst Neil Mehta on January 22 downgraded Devon Energy Corporation to Neutral from Buy with a price target of $52, up from $46. The analyst cites valuation for the downgrade, following the stock’s relative and absolute outperformance in 2021. He now sees limited upside to Devon Energy Corporation shares relative to peers.

Among the hedge funds tracked by Insider Monkey in Q3 2021, Rajiv Jain’s GQG Partners is the biggest Devon Energy Corporation shareholder, with 13.9 million shares worth approximately $494 million. Overall, 48 hedge funds were long Devon Energy Corporation in the third quarter.

Here is what GoodHaven Capital Management has to say about Devon Energy Corporation in their Q4 2020 investor letter:

“After a rough start to the year our two biggest energy holdings – WPX Energy rebounded materially in the last six months though energy was still our biggest detractor for the year. I’ve previously written about deciding earlier this year to direct new capital towards better businesses versus adding more to the energy sector, but given the material optionality at WPX, we opted to maintain a material exposure. Recently WPX announced an all stock merger with a larger competitor – Devon Energy – which will leave the new company with plenty of cash flow at lower oil prices, less leverage, and material upside to higher commodity prices.”

You can also take a look at Warren Buffett’s 5 Worst Performing Stock Picks From 2021 and 10 Jim Cramer Stocks to Buy in January.

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