Highlighting Major Adjustments in Microsoft Corp Amidst Portfolio Reshuffling
Leon Cooperman (Trades, Portfolio), a distinguished figure in the investment world, recently disclosed his 13F filings for the second quarter of 2024. Before establishing Omega Advisors, Cooperman honed his expertise at Columbia University and later as CEO and Chairman of Goldman Sachs Asset Management. Transitioning his hedge fund into a family office in 2018, Cooperman's investment approach skillfully blends macroeconomic perspectives with rigorous fundamental valuation, focusing keenly on market valuations without attempting to predict market directions.
New Additions to the Portfolio
Leon Cooperman (Trades, Portfolio) made notable new investments in the second quarter, diversifying his portfolio with strategic additions:
- Paramount Global (PARA, Financial) emerged as a significant new holding with 1,025,000 shares, representing 0.45% of the portfolio and valued at $10.65 million.
- Pinstripes Holdings Inc (PNST, Financial) was another addition, with 68,824 shares making up roughly 0.01% of the portfolio, totaling $189,270.
Key Position Increases
Cooperman also augmented his stakes in several companies, with notable increases in:
- WillScot Holdings Corp (WSC, Financial), where he added 620,000 shares, bringing his total to 3,607,500 shares. This adjustment marked a 20.75% increase in share count and impacted the portfolio by 0.98%, with a total value of $135.79 million.
- KBR Inc (KBR, Financial) saw an addition of 250,000 shares, increasing the total to 800,000 shares. This represents a 45.45% increase in share count, with a total value of $51.31 million.
Complete Exits
In a significant move, Cooperman exited his position in:
- Citigroup Inc (C, Financial), selling all 300,000 shares, which previously had a -0.79% impact on the portfolio.
Key Position Reductions
Reductions were also part of Cooperman's strategy this quarter, particularly in:
- Microsoft Corp (MSFT, Financial), where he reduced his holdings by 140,000 shares, resulting in a -56.98% decrease in shares and a -2.46% impact on the portfolio. The stock traded at an average price of $422.32 during the quarter and has seen a -0.35% return over the past three months and a 10.59% year-to-date return.
- Mr. Cooper Group Inc (COOP, Financial) saw a reduction of 193,400 shares, marking a -6.33% decrease in shares and a -0.63% impact on the portfolio. The stock's average trading price was $80.4 this quarter, with a 7.01% return over the past three months and a 34.71% year-to-date return.
Portfolio Overview
As of the second quarter of 2024, Leon Cooperman (Trades, Portfolio)'s portfolio comprised 52 stocks. The top holdings included 9.8% in Mr. Cooper Group Inc (COOP), 8.4% in Energy Transfer LP (ET, Financial), 7.67% in Vertiv Holdings Co (VRT, Financial), 7.6% in Apollo Global Management Inc (APO, Financial), and 5.73% in WillScot Holdings Corp (WSC, Financial). The investments span across 10 of the 11 industries, showcasing a diverse range of sectors from Industrials to Consumer Defensive.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
