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Leon Cooperman Bought More Than 1 Million Shares Of Apple

Myles Udland   

Leon Cooperman Bought More Than 1 Million Shares Of Apple
Finance1 min read

Leon Cooperman of Omega Advisors Illustration

Mike Nudelman/Business Insider

Leon Cooperman

Legendary investor Leon Cooperman bought more than 1 million shares of Apple last quarter, and loaded up on shares of grocery chain SUPERVALU, according to Cooperman's latest 13F filing with the SEC.

Cooperman's 1.26 million share stake in Apple is worth about $117.5 million, while his addition to SUPERVALU totaled 5.2 million shares, bringing his total stake to more than 7.8 million shares worth $64 million.

Cooperman's filing also showed he took a new 1.08 million share stake in SeaWorld, which on Wednesday fell more than 30% after a terrible earnings report. CNBC's Scott Wapner, however, reported on Twitter that Cooperman's Omega Advisors sold out of SeaWorld "several weeks ago" at around $29 per share. On Thursday afternoon, SeaWorld shares were below $18.

A 13F requires hedge funds to disclose their long positions within 45 days after a quarter ends, and so Thursday's filing represents Cooperman's holdings as of June 30.

Among Cooperman's new stakes was a 16.9 million share stake in Gulf Coast Ultra Deep Royalty Trust, which collects royalties on a number of oil wells operated by Freeport-McMoRan. Cooperman also holds a 2.4 million share stake in Freeport-McMoRan worth about $88 million.

Cooperman also disclosed a roughly 10 million share stake in Navient Corp, which holds a portfolio of student loans. This stake is worth just under $180 million.

Among notable stakes Cooperman sold chunks of was Capital One, of which he offloaded 1.1 million shares worth about $125 million, bringing his holdings in the financial company to just less than half a million shares worth around $40 million.

Cooperman also sold 1.1 million shares of Realogy - bringing his holdings in the real estate giant to around 1.5 million shares worth $58 million - and Sprint, of which Cooperman sold 3.4 million shares. Cooperman, however, still holds nearly 40 million shares of Sprint worth $195 million.

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