Leon Cooperman - Omega Advisors Portfolio in 2026: Top Holdings & Recent Changes
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Leon Cooperman, the legendary value investor and founder of Omega Advisors, showcases his disciplined approach to navigating volatile markets through targeted adjustments. His $3.2B Q3 2025 portfolio highlights a blend of conviction in core holdings like mortgage servicing and data center infrastructure, alongside fresh bets in healthcare giants and energy plays, signaling confidence in resilient sectors despite broader market uncertainties.
Portfolio Overview: Conviction-Driven Concentration with Tactical Tweaks
Portfolio Highlights (Q3’2025): - Market Value: $3,203.1M - Top 10 Holdings: 67.6% - Portfolio Size: 41 +1 - Average Holding Period: 15 quarters - Turnover: 7.3%
Leon Cooperman's Omega Advisors portfolio exemplifies a high-conviction strategy where the top 10 positions command nearly 68% of the $3.2 billion total, underscoring his preference for deep research into a select group of undervalued opportunities rather than broad diversification. The addition of one new position brings the total to 41, yet the low 7.3% turnover and 15-quarter average holding period reveal a patient, long-term orientation typical of Cooperman's value investing philosophy, honed over decades at Goldman Sachs and his hedge fund.
This concentration isn't reckless; it's backed by meticulous analysis of business quality and downside protection. With energy, financials, and industrials dominating, Cooperman maintains exposure to cyclical recoveries while layering in defensive healthcare adds. The modest portfolio growth and controlled turnover suggest disciplined capital allocation, avoiding chase-the-hot-trend pitfalls even as markets grapple with interest rate shifts and geopolitical tensions.
Tracking these moves via 13F filings on ValueSense provides retail investors a window into institutional-grade decision-making, helping replicate elements of this proven playbook without the multimillion-dollar research teams.
Top Holdings Breakdown: Mortgage Leaders, Tech Infrastructure, and Opportunistic Shifts
Cooperman's portfolio pivots around steadfast core positions while executing meaningful changes in select names. Leading the pack is MR COOPER GROUP INC at 18.8% with no change, followed by Vertiv Holdings Co (VRT) at 10.2% unchanged, reflecting enduring faith in data center demand and mortgage servicing resilience. Energy Transfer LP (ET) holds steady at 7.0%, providing midstream energy stability.
Among shifts, MP Materials Corp. (MP) saw a 7.41% reduction to 6.3%, possibly trimming rare earth exposure amid supply chain dynamics, while Mirion Technologies, Inc. (MIR) gained 17.66% to 6.1%, boosting nuclear and detection tech weighting. Apollo Global Management, Inc. (APO) remains at 5.6% unchanged, alongside adds like Fidelis Insurance Holdings Limited (FIHL) up 14.75% to 3.8% and Elevance Health Inc. (ELV) surging 21.36% to 3.4%, signaling healthcare conviction.
Further changes include Cigna Corporation (CI) added 53.30% to 2.9%, Sunoco LP (SUN) up 10.20% to 2.5%, and Atlas Energy Solutions Inc. (AESI) increased 3.96% to 1.9%. Notable trims hit OneMain Holdings, Inc. (OMF) down 26.34% to 1.5%, while adds continued with GE HealthCare Technologies Inc. (GEHC) at 50.00% to 1.4% and Manchester United plc (MANU) up 0.64% to 1.4%. Steady performers like Regal Rexnord Corporation (RRX) at 3.3% and Lithia Motors, Inc. (LAD) at 3.1% round out the top tier, blending industrials and autos.
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What the Portfolio Reveals About Cooperman's Market View
Cooperman's Q3 moves paint a picture of pragmatic value hunting in a high-valuation environment, favoring quality cyclicals with strong free cash flow over speculative growth.
- Sector Focus: Heavy tilt toward financials (mortgage, asset management, insurance), energy midstream, and healthcare, with emerging interest in nuclear/tech infrastructure via MIR and VRT—positions poised for AI/data center tailwinds and energy transition.
- Quality Over Speculation: Adds in established names like ELV, CI, and GEHC emphasize resilient healthcare providers with moats, while trims in MP and OMF suggest profit-taking on prior winners facing headwinds.
- Risk Management: Low turnover and long holding periods mitigate volatility; the +1 position size increase shows opportunistic expansion without overextension.
- Dividend Strategy: Holdings like ET and SUN provide yield cushions, balancing growth bets in VRT and MIR.
- Geographic Concentration: Primarily U.S.-centric, with minimal international exposure beyond MANU, prioritizing domestic recovery plays.
This positioning reveals cautious optimism: Cooperman sees value in overlooked industrials and healthcare amid tech froth, using changes to rebalance toward undervalued cash generators.
Portfolio Concentration Analysis
| Position | Value | % of Portfolio | Recent Change |
|---|---|---|---|
| MR COOPER GROUP INC | $603.0M | 18.8% | No change |
| Vertiv Holdings Co (VRT) | $325.5M | 10.2% | No change |
| Energy Transfer LP (ET) | $224.7M | 7.0% | No change |
| MP Materials Corp. (MP) | $201.2M | 6.3% | Reduce 7.41% |
| Mirion Technologies, Inc. (MIR) | $195.0M | 6.1% | Add 17.66% |
| Apollo Global Management, Inc. (APO) | $178.2M | 5.6% | No change |
| Fidelis Insurance Holdings Limited (FIHL) | $120.9M | 3.8% | Add 14.75% |
| Elevance Health Inc. (ELV) | $110.2M | 3.4% | Add 21.36% |
| Regal Rexnord Corporation (RRX) | $105.5M | 3.3% | No change |
| Lithia Motors, Inc. (LAD) | $100.4M | 3.1% | No change |
The table underscores Omega Advisors' hallmark concentration, with the top holding—MR COOPER GROUP INC—alone representing nearly 19% and the top five exceeding 48%. This structure amplifies returns from high-conviction ideas like VRT's data center surge but demands precise timing, as seen in the 7.41% MP trim amid commodity pressures.
Dynamic adjustments within the top 10, including sizable adds to MIR, FIHL, and ELV, demonstrate active management without disrupting the core. At 67.6% overall, this setup prioritizes alpha generation over broad market beta, a Cooperman staple that has weathered cycles by betting big on misunderstood value.
Investment Lessons from Leon Cooperman's Omega Advisors Approach
Cooperman's portfolio distills decades of Wall Street wisdom into actionable principles:
- Concentrate on What You Know Deeply: 67.6% in top 10 reflects unwavering focus on researched edges, like mortgage resilience in MR COOPER and energy infrastructure in ET.
- Patience Pays—Hold Through Volatility: 15-quarter average tenure shows commitment to quality, avoiding short-term noise.
- Trim Winners, Add to Value: Strategic reduces (MP, OMF) fund bold adds (ELV, CI, GEHC), maintaining discipline in position sizing.
- Sector Rotation with a Value Lens: Shifts toward healthcare and nuclear tech signal reading macro undercurrents without abandoning cyclicals.
- Low Turnover Builds Wealth: 7.3% rate minimizes taxes and transaction costs, letting compounding work.
Looking Ahead: What Comes Next?
With a 41-position portfolio and low turnover, Cooperman appears positioned for selective deployment into further healthcare or energy opportunities, especially if valuations correct. The healthcare adds (ELV, CI, GEHC) set up for aging demographics and steady cash flows, while energy bets like SUN and AESI could benefit from global demand. VRT's infrastructure play aligns with AI capex boom.
Cash levels aren't specified, but the +1 position hints at dry powder for distressed value post-Q3. In a potentially slowing economy, this mix of yields (ET, SUN), growth (VRT, MIR), and defensives (healthcare) offers balanced upside, watching for Fed pivots or commodity rebounds to trigger new moves.
FAQ about Leon Cooperman's Omega Advisors Portfolio
Q: What are the biggest changes in Cooperman's Q3 2025 13F filing?
A: Key adds include ELV +21.36%, MIR +17.66%, and CI +53.30%, while trims hit MP -7.41% and OMF -26.34%, reflecting healthcare conviction and cyclical profit-taking.
Q: Why is Cooperman's portfolio so concentrated?
A: At 67.6% in top 10, it follows his high-conviction value strategy, focusing capital on deeply understood businesses for superior returns, balanced by 41 total positions for diversification.
Q: What sectors does Cooperman favor in this portfolio?
A: Financials/mortgage (MR COOPER), energy (ET, SUN, AESI), healthcare (ELV, CI, GEHC), and tech/industrials (VRT, MIR, RRX), blending cyclicals with defensives.
Q: How can I track Cooperman's portfolio like a pro?
A: Use ValueSense's superinvestor tracker at Omega Advisors page for real-time 13F updates—note the 45-day filing lag means Q3 data reflects end-2025 positions. Combine with intrinsic value tools for your own analysis.
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