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.

Omega Advisors’ Latest Moves

Omega Advisors is an NYC-based hedge fund that was launched back in 1991 by now renowned investor and billionaire, Leon Cooperman. The fund utilizes a long/short investment strategy and at the end of June 2018, it managed around $3.6 billion in assets. Last year, Leon Cooperman announced it is planning to close Omega Advisors’ doors to the outside investors making it a family business. Leon Cooperman cut his teeth at Goldman Sachs, where, over time, he reached a position of the general partner, chairman and CEO of Goldman Sachs Asset Management. He graduated with a Bachelor of Arts/Science from Hunter College and with Master of Business Administration from Columbia Business School. In this article, we are going to observe, the fund’s first quarter portfolio changes.

Omega Advisors’ Latest Moves

Insider Monkey’s flagship strategy identifies the best performing 100 hedge funds at the end of each quarter and invests in their consensus stock picks. This way it is always invested in the best ideas of the best performing hedge funds and is able to generate much higher returns than the market. Since its inception in May 2014, our flagship strategy generated a cumulative return of 103%, beating the S&P 500 ETF (SPY) by nearly 38 percentage points (see the details here). Our best performing hedge funds strategy also returned 26.4% year-to-date and outperformed the S&P 500 Index by nearly 12 percentage points. We take a closer look at hedge funds like Omega Advisors in order to identify their best and worst ideas.

At the end of the first quarter of 2019, Omega Advisors portfolio was valued $1.64 billion,  and it counted 55 long positions. Among the new additions were Twin River Worldwide Holdings, Inc. (NYSE:TRWH), Centene Corporation (NYSE:CNC), Adobe Inc. (NASDAQ:ADBE), and Par Pacific Holdings, Inc. (NYSE:PARR). There were stakes Omega Advisors decided to raise during the quarter, among which were Alphabet Inc. (NASDAQ:GOOGL), First Data Corporation (NYSE:FDC), Cigna Corporation (NYSE:CI), and Chimera Investment Corporation (NYSE:CIM).

On the other side of the spectrum – stocks the fund lowered in Q1, counted CVS Health Corporation (NYSE:CVS), Loral Space & Communications Inc. (NASDAQ:LORL), PennyMac Financial Services, Inc. (NYSE:PFSI), and UnitedHealth Group Incorporated (NYSE:UNH).

Disclosure: None.

This article is originally published at Insider Monkey.

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.
Loading...