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

Buy Stocks That Are Right for You: Cramer's 'Mad Money' Recap (Friday 2/16/18)

Buy Stocks That Are Right for You: Cramer's 'Mad Money' Recap (Friday 2/16/18)

How Jim Cramer Knew to Sell Just Before The Dow Jones Industrial Average Tanked

How Jim Cramer Knew to Sell Just Before The Dow Jones Industrial Average Tanked

General Electric Is One Mega-Cap Stock You Must Still Avoid

General Electric Is One Mega-Cap Stock You Must Still Avoid

Stock Markets Are Booming Again but Panties Prices Continue to Plunge

Stock Markets Are Booming Again but Panties Prices Continue to Plunge

Jim Cramer: Short Footprints Everywhere

Jim Cramer: Short Footprints Everywhere