Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Cooperman’s Omega Unloads Stakes in Bank of America, Citigroup

Aug. 10 (Bloomberg) -- Leon Cooperman, chief executive officer of New York-based hedge fund Omega Advisors Inc., sold all of his Bank of America Corp. and Citigroup Inc. holdings in the second quarter as he reduced his financial stakes.

Cooperman sold 794,000 Citigroup shares and 2.54 million Bank of America shares, according to a document filed today with the U.S. Securities and Commission. He sold 247,000 shares of Blackstone Group LP, reducing his position to about 2 million shares as of June 30.

The fund’s equity weighting in financial stocks decreased by 3.6 percent, according to data compiled by Bloomberg.

The firm’s weightings in energy, consumer discretionary and health-care stocks increased. The fund bought 1.55 million shares of Sunoco Inc. valued at $59.1 million, doubling its stake with its largest position increase in terms of market value. Cooperman purchased 4.15 million shares of natural-gas pipeline owner El Paso Corp., his largest new stake.

Money managers overseeing more than $100 million in equities must file a Form 13F within 45 days of each quarter’s end to show U.S.-listed stocks, options and convertible bonds. The filings don’t show non-U.S. securities or how much cash the firms hold.

To contact the reporter on this story: Laura Keeley in New York at

To contact the editor responsible for this story: Christian Baumgaertel at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.