Billionaire Lee Cooperman started his career as a plumber. He belonged to a Jewish family and used to live in Bronx. After completing his degree from Columbia Business School way back in the year 1967, he started working at Goldman Sachs. Later, after relentless struggle, Cooperman climbed up the ladder and achieved executive positions within the company. He worked for 25 long years in the Goldman Sachs and later founded his own hedge fund, named Omega Advisors. The hedge fund is a $3.4 billion company and is based in New York city. In the year 2018, billionaire Lee Cooperman converted the company into a family office. Lee Cooperman is a reputable financial advisor within the business community. He usually spends most of this time in New Jersey and Short Hills. As per available data, his net worth is $2.5 billion. Omega Advisors during the fourth quarter of 2020 reported $1.39 billion in managed 13F securities. The top 10 stock holdings of Omega Advisors account for almost 61% of the hedge fund’s total portfolio. According to Lee Cooperman, the global pandemic caused a huge loss to the global business. You can read about Top 5 Stock Picks by Lee Cooperman in this article as Shared by Insider Monkey on Yahoo.
One of the top picks of Lee Cooperman is Trinity Industries, Inc. The company is engaged in manufacturing transportation and construction materials. According to sources, Omega Advisors own around 3 million shares of Trinity Industries. The total worth of the shares is around $79.7 million. The company with most shares of Trinity Industries is ValueAct Capital, owned by Jeffrey Ubben. Around 22 different hedge funds own shares of this company. During the past 12 months, the stock price of Trinity Industries increased by 49%. The company is also offering a dividend of 2.65% to investors. Another selection from the Omega Advisors’ portfolio is Alphabet Inc. Omega Advisors of Alphabet Inc owns 60,000 shares of the company. These shares are worth $105 million. The shares of Alphabet accounts for 7.57% of Omega Advisors’ overall portfolio. During the fourth quarter of 2020, the share price increased by 23% on a yearly basis. On the other hand, the ads revenue jumped by 22% to whooping $46.20 billion. Economic activities are turning normal around the globe with the availability of corona vaccine. You can read about other stock picks in this article Billionaire Lee Cooperman’s Top 10 Stock Picks.