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Omega Advisors: Highlights of holdings in 3Q14

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About the firm

Omega Advisors is a New York-based investment advisory firm founded in 1991 by Leon G. Cooperman. In this series, we’ll discuss the main positions traded by the firm in the third quarter of 2014 that ended in September.

The fund’s US long portfolio declined to $6.79 billion from $7.57 billion in 2Q14.

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Omega’s 3Q14 positions

The fund added new positions in AerCap Holdings N.V. (AER), Nordic American Offshore (NAO), and Melco Crown Entertainment (MPEL). It exited its positions in Qualcomm (QCOM), Ocwen Financial Corp. (OCN), Freeport-McMoRan (FCX), and Boston Scientific Corp. (BSX). Notable position increases during the third quarter were QEP Resources (QEP) and United Continental Holdings (UAL).

Omega’s 13G and 13D filings since October

Omega Advisors’ filings in the current quarter show an increased stake in Caesars Entertainment (CZR). The fund also slightly raised its position in Chimera Investment (CIM) in the current quarter and then trimmed it toward the end of November. A 13D filing in February revealed an activist stake in Chimera. These positions will be discussed in detail toward the end of the series.

The next part of the series will highlight Omega’s top new position in AerCap Holdings.

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