Leon Cooperman is still heavily invested in energy stocks and has a new MLP pick

Leon Cooperman is still heavily invested in energy stocks and has a new MLP pick


Leon Cooperman at the 2019 Delivering Alpa conference in New York on Sept. 19. 2019.

Adam Jeffery | CNBC

Leon Cooperman, Omega Family Office chair and CEO, remained heavily invested in energy stocks at the end of the first quarter, while adding a new master limited partnership.

The billionaire investor took a small stake worth $16.5 million in Sunoco LP last quarter, according to a new regulatory filing. The fuel distributor is up about 9% this year after a 14% sell-off in 2024, and currently yields 6.26%, according to FactSet data.

Cooperman, who was once CEO of Goldman Sachs Asset Management before starting Omega, also increased his holdings in two energy stocks that are among his biggest positions: Energy Transfer and Ashland Global Holdings.

Omega’s biggest holding at the end of March remained mortgage firm Mr. Cooper. The stock soared at the end of the first quarter when fintech platform Rocket Companies agreed to buy Mr. Cooper in an all-stock transaction valuing the target at $9.4 billion.

In early April, when President Donald Trump rolled out steep increases in tariffs, Cooperman told CNBC that the increased duties were a “mistake” that would tip the U.S. economy into a recession and force down interest rates in reaction. Trump soon after suspended the higher tariffs for 90 days, boosting the stock market and economic outlook.



Source

Taylor Swift sporting ‘cushion cut’ engagement ring gives Signet Jewelers stock a brief pop
World

Taylor Swift sporting ‘cushion cut’ engagement ring gives Signet Jewelers stock a brief pop

US singer-songwriter Taylor Swift kisses Kansas City Chiefs’ tight end #87 Travis Kelce after the Chiefs won Super Bowl LVIII against the San Francisco 49ers at Allegiant Stadium in Las Vegas, Nevada, February 11, 2024.  Patrick T. Fallon | Afp | Getty Images Your favorite post-pandemic economic engine shared some personal news on Tuesday. Singer […]

Read More
Here’s what happened to financial markets after Nixon pressured the Fed
World

Here’s what happened to financial markets after Nixon pressured the Fed

Investors wondering what President Donald Trump’s move to fire Federal Reserve Governor Lisa Cook might mean for financial markets today can look back half a century for some insight. President Richard Nixon, aiming to clinch a second term in the White House, pressured then-Fed Chair Arthur Burns to loosen monetary policy before the 1972 election. […]

Read More
Lisa Cook will sue over Trump firing from Fed board, her lawyer says
World

Lisa Cook will sue over Trump firing from Fed board, her lawyer says

Lisa Cook, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024. Al Drago | Bloomberg | Getty Images Federal Reserve Board Governor Lisa Cook will file a lawsuit challenging her removal by President Donald Trump, her attorney said Tuesday. “President Trump has no authority […]

Read More