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.