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Leon Cooperman Friends Facebook, Avoids Apple

NEW YORK ( TheStreet) -- Noted hedge fund manager Leon Cooperman of Omega Advisors has some juicy details in his latest 13F filing. He's initiated a new 3 million share stake in Facebook (FB - Get Report), while completely selling out of Apple (AAPL - Get Report).

Cooperman, who got his start at Goldman Sachs (GS), announced that as of Dec. 31, 2012, he and Omega Advisors owned 3.1 million shares of the popular social network. He did not have a position in Facebook prior to this filing.

Perhaps even more interesting than Cooperman's new stake in Facebook, though, is his lack of a stake in Apple. Cooperman, a long time Apple bull, has completely sold out of his Apple stock, as the shares fell during the fourth-quarter, amid concerns over slowing innovation and revenue growth. He owned more than 260,000 shares of Apple as of the end of the third-quarter, but held none as of Dec. 31, 2012.

The famed investor also disclosed new stakes in Las Vegas Sands (LVS - Get Report) and SandRidge Energy (SD - Get Report), while upping his stake in names such as Sirius XM Satellite Radio (SIRI - Get Report) and NYSE Euronext (NYX).

Facebook shares jumped 3.% to $28.19 on the news, while Apple shares were down marginally, off 0.34% to $466.33.

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

--Written by Chris Ciaccia in New York

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AAPL $117.81 0.00%
FB $105.45 0.00%
LVS $44.32 0.00%
SIRI $4.14 0.00%
SD $0.30 0.00%


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