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), while completely selling out of Apple ( AAPL).

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) and SandRidge Energy ( SD), while upping his stake in names such as Sirius XM Satellite Radio ( SIRI) 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

>Contact by Email.

If you liked this article you might like

Why Amazon's Reported Smart Glasses Might Be Just a Niche Product -- For Now

PayPal's Venmo Gets Ready to Take on Apple

How PayPal's CEO Uses Military Level Karate to Succeed in Business

Yes, PayPal CEO Actively Practices Martial Arts

7 Essential Rules for Investing in Tech Stocks