In this piece, we will take a look at the top five stocks in billionaire Leon Cooperman’s 2022 portfolio. To learn more about the investor and discover more stocks, take a look at Billionaire Leon Cooperman’s 2022 Portfolio: Top 10 Stock Picks.
5. Fiserv, Inc. (NASDAQ:FISV)
Omega Advisors’ Stake Value: $106 million
Percentage of Omega Advisors’ 13F Portfolio: 5.37%
Number of Hedge Fund Holders: 58
Fiserv, Inc. (NASDAQ:FISV) is a payment and financial technology services provider headquartered in Brookfield, Wisconsin, United States. The company provides customer deposit and loan accounts, point of sale merchant services, and card based payments services.
Mr. Cooperman’s family office held a $106 million stake in Fiserv, Inc. (NASDAQ:FISV) by the end of December 2021, which came through owning one million shares. Insider Monkey’s 912 hedge fund survey for Q1 2022 outlined that 58 had bought the company’s shares.
Fiserv, Inc. (NASDAQ:FISV) bolstered its payment services portfolio in June 2022 by allowing its customers to also use digital checks to make large scale customer payments. Wells Fargo reduced the company’s share price target to $97 from $123 in July 2022, sharing that while it has a strong business model, inflationary concerns still merit some caution.
Fiserv, Inc. (NASDAQ:FISV)’s largest investor is Natixis Global Asset Management’s Harris Associates which owns 24 million shares that are worth $2.4 million.
4. Devon Energy Corporation (NYSE:DVN)
Omega Advisors’ Stake Value: $119 million
Percentage of Omega Advisors’ 13F Portfolio: 6.02%
Number of Hedge Fund Holders: 66
Devon Energy Corporation (NYSE:DVN) is an American oil and gas company headquartered in Oklahoma City, Oklahoma. The firm explores and produces oil and natural gas and it has more than 5,000 wells.
In light of the recent surge in profits for U.S. energy companies, Devon Energy Corporation (NYSE:DVN) acquired more acreage and assets to its portfolio in June 2022, by paying $865 million. The company is currently the target of bullish sentiment on Wall Street, with several analysts having raised its price target. For instance, Barclays raised its price target to $90 from $73 in June 2022, outlining that high oil price forecasts will bode well for the company.
Mr. Cooperman’s Q1 stake in Devon Energy Corporation (NYSE:DVN) saw the investor owning 2.7 million shares for a $119 million investment. Insider Monkey took a look at 912 hedge fund portfolios for this year’s first quarter and found out that 66 had also bought the company’s shares.
Rajiv Jain’s GQG Partners is Devon Energy Corporation (NYSE:DVN)’s largest investor. It owns 15 million shares that are worth $888 million.
3. Athene Holding Ltd. (NYSE:ATH-PA)
Omega Advisors’ Stake Value: $133 million
Percentage of Omega Advisors’ 13F Portfolio: 6.69%
Number of Hedge Fund Holders: N/A
Athene Holding Ltd. (NYSE:ATH-PA) is a retirement services company based in Hamilton, Bermuda. It offers several different kinds of services such as annuities, reinsurance, pension risk transfer products, and institutional products.
June 2022 proved to be a fruitful month for Athene Holding Ltd. (NYSE:ATH-PA) as the American defense and aerospace giant Lockheed Martin announced that it will transfer roughly $3.4 billion of its pension obligations to the company. The company will start administering retirement benefits from this transfer starting next year.
As December 2021 came to an end, Mr. Cooperman’s family office had disclosed a $133 million stake in Athene Holding Ltd. (NYSE:ATH-PA) which came through it holding 1.6 million shares of the company.
2. Alphabet Inc. (NASDAQ:GOOG)
Omega Advisors’ Stake Value: $173 million
Percentage of Omega Advisors’ 13F Portfolio: 8.73%
Number of Hedge Fund Holders: 160
Alphabet Inc. (NASDAQ:GOOG) is one of the largest technology companies in the world, which is known primarily for its search engine Google. Apart from Google, however, the company offers smartphones, other technology products, cloud computing, video streaming, and productivity software.
Alphabet Inc. (NASDAQ:GOOG)’s Android software scored a big win in June 2022 when BMW announced that it will integrate Android Automotive OS with its own operating system. This will allow consumers to use Android starting from March next year and will be limited to certain models for the time being. Insider Monkey profiled 912 hedge funds for 2022’s first quarter and found out that 160 had bought the company’s shares.
Mr. Cooperman held a $173 million stake in Alphabet Inc. (NASDAQ:GOOG) reveal his Q1
filings, which come through owning 60,000 shares. Just like other technology companies, Alphabet Inc. (NASDAQ:GOOG) also saw its price target cut down by Evercore ISI to $3,110 from $3,300 in July 2022, as the firm accounted for inflationary pressures.
Alphabet Inc. (NASDAQ:GOOG)’s largest investor in our database is Chris Hohn’s TCI Fund Management which owns 2.3 million shares that are worth $6.6 billion.
1. Mr. Cooper Group Inc. (NASDAQ:COOP)
Omega Advisors’ Stake Value: $176 million
Percentage of Omega Advisors’ 13F Portfolio: 8.88%
Number of Hedge Fund Holders: 30
Mr. Cooper Group Inc. (NASDAQ:COOP) is an American financial services provider that primarily targets the housing industry. The company provides mortgages to residential customers and collects payments on their behalf as well. It is headquartered in Coppell, Texas.
Mr. Cooper Group Inc. (NASDAQ:COOP) is the largest nonbank mortgage services provider in America and it handles payments for more than 3 million customers. The company also plans to increase its services balances portfolio to $1 trillion over the next three years. In a July 2022 note, Barclays reduced the company’s share price target to $43 from $44, stating that high mortgage rates will affect volumes.
Mr. Cooperman’s family office owns 4.2 million Mr. Cooper Group Inc. (NASDAQ:COOP) shares that are worth $176 million and represent 8.88% of its portfolio. 30 of the 912 hedge funds part of Insider Monkey’s survey covering the first quarter of this year had invested in the company.
Parag Vora’s HG Vora Capital Management is Mr. Cooper Group Inc. (NASDAQ:COOP)’s largest investor through a $148 million stake that comes through 3.2 million shares.
Disclosure: None. You can also take a look at 10 Best Undervalued Automobile Stocks to Buy Now and 10 Best Data Center Stocks To Invest In.
