This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
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), while upping his stake in names such as
Sirius XM Satellite Radio(SIRI - Get Report) and
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
--Written by Chris Ciaccia in New York