Omega Advisors is blowing everyone in the industry out of the water with its fund up 27 percent since the beginning of the year. Founded in 1991, the Global Macro oriented hedge fund has averaged 13 percent in returns annually since its inception and has approximately US$7 billion asset under management.
In the third quarter, the hedge fund manager initiated eight new positions with US$69 million invested in Walgreen Co (WAG) (+1.8 million shares), US$38 million in Polycom Inc (PLCM) (+3.9 million shares), US$29 million in CTrip.com International (CTRP) (+1.7 million shares) and US$25 million in TiVo Inc (TIVO) (+2.4 million shares).
Cooperman also dropped entire stakes in nine separate companies in the third quarter, including: Citrix Systems ( CTXS) (-1.1 million shares), United Continental Holdings (UAL) (-1.9 million shares), Lam Research Corp (LRCX) (-1.2 million shares) and McGraw-Hill Companies (MHP) (-0.8 million shares).
Here are the top ten holdings of Leon Cooperman’s Omega Advisors in the third quarter 2012, ranked by total value:1. American International Group, Inc. ( AIG, Earnings, Analysts, Financials): The company operates property and casualty insurance networks worldwide and conducts activities in the U.S. life insurance and retirement services industry. Market cap at $48.23B Added 3,467,700 shares in 3Q 2012. 2. SLM Corporation ( SLM, Earnings, Analysts, Financials): Provides education finance in the United States. Market cap at $7.81B Added 380,900 shares in 3Q 2012. 3. Sprint Nextel Corp. ( S, Earnings, Analysts, Financials): Offers wireless and wireline communications products. Market cap at $16.77B Sold 342,900 shares in 3Q 2012. 4. Linn Energy, LLC ( LINE, Earnings, Analysts, Financials): Engages in the development and acquisition of oil and gas properties in the United States. Market cap at $7.76B Sold 16,525 shares in 3Q 2012.