"Leon Cooperman Added Telecom, Technology Positions In 1st Quarter"
May 17, 2000 1:34 PM
WASHINGTON -(Dow Jones)- Leon Cooperman's Omega Advisors Inc. had a busy first quarter, turning over roughly half of its
investments, according to a Form 13F filed Monday with the U.S. Securities and Exchange Commission.
Cooperman's first-quarter 13F lists 45 positions that weren't on the 13F for Dec. 31, bringing the total number of positions to 91, with a
value of $2.6 billion. At Dec. 31, the money manager held 82 positions with a value of $2.06 billion.
There was no real theme to the new positions taken during the first quarter, as the investments were across a broad spectrum of
companies, with slightly heavier weighting on the technology and telecommunications sectors.
Among the new positions in the technology and telecommunications sectors were 832,700 shares of 3Com Corp. (COMS), 501,073
shares of Microsoft Corp. (MSFT), 350,100 shares of Bell Atlantic Corp. (BEL), 566,300 shares of BellSouth Corp. (BLS) and 439,600
shares of Vodafone Airtouch PLC (VOD).
Other new positions taken during the first quarter include 986,200 shares of American Power Conversion Corp. (APCC), 360,000 shares
of Alcoa Inc. (AA), 1,200,900 shares of Ace Ltd. (ACL), 861,900 shares of Columbia Energy Group (CG), 461,300 shares of Cigna Corp.
(CI), 530,200 shares of General Motors Corp. (GM), 2,161,100 shares of Tenet Healthcare Corp. (THC) and 915,300 shares of Williams
Cos. (WMB).
Although Cooperman closed out many positions during the quarter, only a few were significant holdings, including 1,746,900 shares of
Ascent Entertainment Group Inc. (GOAL), 1,853,870 shares of CIT Group Inc. (CIT), 238,200 shares of Lexmark International Group Inc.
(LXK), 1,692,000 shares of Loral Space & Communications Inc. (LOR) and 604,400 shares of Tricon Global Restaurants Inc. (YUM).
Among the existing positions, Cooperman made some significant additions to holdings in the beaten-down health-care sector during the
first quarter.
The increases include 2,614,900 shares of Manor Care Inc. (HCR), 3,847,500 shares of HealthSouth Corp. (HRC) and 2,848,000 shares
of IMS Health Inc. (RX).
Other increases during the quarter include 914,600 shares of Applied Power Inc. (APW), 1,554,000 shares of Galileo International Inc.
(GLC), 1,025,000 shares of Niagara Mohawk Holdings Inc. (NMK), 29,000 shares of Office Depot Inc. (ODP), 840,000 shares of Pier 1
Imports Inc. (PIR), 2,698,200 shares of Ryder Systems Inc. (R), 3,001,700 shares of Shaw Industries Inc. (SHX), 984,100 shares of TJX
Corp. (TJX) and 1,460,300 shares of Warnaco Group Inc. (WAC).
The largest sale of an existing position during the first quarter was 1,822,900 shares of Park Place Entertainment Corp. (PPE), lowering
Cooperman's holdings to 5,580,400 shares.
Other positions reduced during the quarter included the sale of 478,000 shares of Convergys Corp. (CVG), 681,950 shares of News
Corp. LTD (NWS) and 380,372 shares of AT&T Corp.'s (T) Liberty Media Group Inc. (LMGA).
-By Todd Goren, Federal Filings Business News; Dow Jones Newswires; 202-628-9782; todd.goren@dowjones.com
(This story was originally published by Dow Jones Newswires) |
