5 Favorite Stocks of Billionaire Leon Cooperman

2. Alphabet Inc. (NASDAQ:GOOG)

Omega Advisors’ Stake Value: $173,822,000

Percentage of Omega Advisors’ 13F Portfolio: 8.73%

Number of Hedge Fund Holders: 158

Leon Cooperman held 60,000 Alphabet Inc. (NASDAQ:GOOG) shares as per the securities filings from Q4 2021, worth $173.8 million, representing 8.73% of the total 13F portfolio. Alphabet Inc. (NASDAQ:GOOG) has featured on the billionaire’s portfolio since Q3 2015, and after disposing of the stock in Q2 2020, he purchased the shares again in the next quarter. 

On March 10, Deutsche Bank analyst Ben Black initiated coverage of Alphabet Inc. (NASDAQ:GOOG) with a Buy rating and a $3,150 price target. According to the analyst,  Alphabet Inc. (NASDAQ:GOOG) is a structural winner amid the growing trend of commerce and services shifting from physical storefronts to digital venues. He added that Google is at the intersection of merchants and consumers and “clearly stands to benefit” from e-commerce increasingly becoming a global retail channel. 

Among the hedge funds tracked by Insider Monkey, 158 funds were long Alphabet Inc. (NASDAQ:GOOG) at the end of December 2021, compared to 156 funds in the prior quarter. Chris Hohn’s TCI Fund Management held the leading stake in the company, with shares worth $8.5 billion. 

Here is what ClearBridge Investments Large Cap Value Strategy has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q1 2022 investor letter:

“Additionally, we added to our position in Alphabet (NASDAQ:GOOG), whose valuation we found attractive amid the market selloff early in the quarter, particularly given its dominant position in search, its scaling opportunities in cloud services, and its relative insulation from Apple (NASDAQ:AAPL)’s privacy initiatives, which do not affect Alphabet’s core search business the way they do other large tech platforms.”