Leon Cooperman's Omega Advisors revealed a significant portfolio shift in its latest 13F filing for the second quarter of 2026. The firm's total portfolio value increased to $3.55 billion, and the number of holdings was concentrated at 39 stocks. A major highlight was the initiation of a new position in GPGI Inc., which immediately became a top-five holding, accounting for 5.09% of the portfolio with an investment of approximately $180 million. This move, alongside the complete exit from six other names including Alphabet (GOOGL), suggests a meaningful strategic rotation for the second half of the year.
Omega's top holding remains Vertiv (VRT), which now constitutes over 20% of the portfolio at $722.47 million, underscoring a continued conviction in the AI power and data center infrastructure theme. Other top holdings include Rocket Companies (RKT) and Energy Transfer (ET). While making bold new investments, Cooperman also significantly reduced exposure to certain holdings. Most notably, the position in Sunoco (SUN) was cut by over 86%, making it a near-exit. The firm also completely divested its stakes in Elevance Health (ELV), SunOpta (STKL), and Atlas Energy Solutions (AESI), among others.
Cooperman's investment strategy, known for blending macroeconomic analysis with fundamental valuation, is evident in these recent moves. The substantial new stake in GPGI signals strong conviction in the new name, a characteristic of Cooperman's concentrated portfolio approach. In addition to new positions, Omega increased its stakes in several companies, including GE HealthCare Technologies (GEHC) and Ashland Inc. (ASH). These adjustments reflect an active management style, reallocating capital in response to market conditions and perceived opportunities.