Billionaire investor Leon Cooperman thinks that it's a stock picker's market and only individual names will offer value for investors as the overall market struggles. A new filing just revealed his top selections. The chair and CEO of Omega Advisors held about $167 million worth of Energy Transfer at the end of the third quarter, making the midstream energy company his biggest holding, according to a regulatory filing. The energy bull also had sizable stakes in Devon Energy and Ashland Global Holdings . Cooperman became overweight the energy sector about two years ago when the group was still unloved. He has enjoyed a stellar run with these stocks, which have benefited from rising oil prices. The widely followed investor kept some of his favorite stocks unchanged in the last quarter, including mortgage company Mr. Cooper Group , car dealership Lithia Motors , Apollo Global Management and Alphabet. On the broader market, Cooperman recently said investors might not see a new high for a long time, partly because of the risk of a fiscal crisis. “Ultimately, we will have a crisis in public sector finance, and the market is not discounting a crisis. Overall, I expect very little from the market,” he said last month. He said he would be very surprised if the S & P 500 climbs above 4,600 anytime this year. The large-cap benchmark is up more than 18% this year, trading around 4,550.
News Related-
These bond funds are among the top performers in 2023 – Here’s what investors should do next
It's been a good year for yield-chasing investors willing to take some risk in fixed income. The Federal Reserve's rate hikes since March 2022 have had the pleasant side effect of lifting yields on interest-bearing assets ranging from Treasury bills to money market funds. The lowly 1-year certificate of deposit ...
See Details: These bond funds are among the top performers in 2023 – Here’s what investors should do next -
Goldman's hedge fund VIP portfolio is up 31% this year. These are the stocks on the list
Hedge funds' favorite stocks have crushed the broader market in 2023, returning 31%, thanks to mega-cap technology companies, according to Goldman Sachs. The Wall Street bank analyzed the holdings of 735 hedge funds with $2.4 trillion of both long and short equity positions at the start of the fourth quarter, ...
See Details: Goldman's hedge fund VIP portfolio is up 31% this year. These are the stocks on the list -
A bearish options bet against this coffee stock showing some fatigue
Identifying underperforming stocks is becoming a challenge, with the broader market approaching new highs. Starbucks (SBUX) looks like it could be an interesting stock to bet against. While the stock saw an impressive 18% surge post an earnings beat at the start of the month, it's displaying indications of fatigue, ...
See Details: A bearish options bet against this coffee stock showing some fatigue