Cooperman's Top 5 Stock Plays: A Billionaire's Unconventional Investment Thesis

Leon Cooperman, the seasoned hedge fund veteran who spent 25 years climbing the ranks at Goldman Sachs—including a stint as chairman and CEO of their asset management division—has built a distinctive investment approach in the decades since launching his private partnership, Omega Advisors, in 1991. Now in his 80s, Cooperman oversees more than $3 billion in assets, with his current portfolio spread across 47 different equity positions according to the latest SEC regulatory filings.

What’s Cooperman Actually Buying?

Unlike many of his billionaire peers, Cooperman’s stock picks tell a fascinating story of contrarian thinking. His five largest positions, totaling over $1.1 billion in combined market value, paint a picture of an investor betting on overlooked corners of the market rather than the usual mega-cap darlings.

At the top of his portfolio is Mr. Cooper Group (NASDAQ: COOP), where Cooperman has deployed $275 million for a 4.47% ownership stake. This mortgage servicing giant operates in an industry most glamorous investors overlook, yet it represents the largest single concentration in his portfolio.

Energy Transfer LP (NYSE: ET) marks his second-largest bet at $248 million, capturing just 0.37% of the company. This natural gas transportation and storage partnership offers investors a compelling 6.8% dividend yield with a $65 billion market cap—the kind of yield-focused infrastructure play that appeals to experienced allocators seeking steady income streams.

Vertiv Holdings (NYSE: VRT) secures the third spot with a $239 million commitment representing 0.56% ownership. The company specializes in critical infrastructure—power systems, cooling solutions, and IT infrastructure services—positioning itself to benefit from data center expansion and enterprise technology upgrades.

Apollo Global Management (NYSE: APO) rounds out the heavy hitters with a $229 million stake worth 0.25% of the firm. As an alternative asset manager overseeing more than $500 billion, Apollo represents Cooperman’s wager on the thriving alternative investments industry.

Rounding out the top five is WillScot Mobile Mini Holdings (NASDAQ: WSC), where Cooperman holds $135 million invested for a 2.18% ownership position. The company supplies mobile storage solutions and modular buildings primarily to the business sector—a niche but growing market segment.

The Unconventional Strategy

What makes Cooperman’s portfolio particularly striking is its deliberate avoidance of consensus holdings. Among these five positions, only Alphabet appears among the “Magnificent Seven” ultra-popular tech stocks that dominate most billionaire portfolios. The absence of the usual household names—no Apple, no Microsoft, no Tesla—reveals an investor comfortable swimming against the tide.

This contrarian positioning suggests Cooperman believes significant value exists in overlooked sectors: financial services, energy infrastructure, industrial solutions, alternative asset management, and commercial equipment rental. It’s a portfolio construction philosophy built on finding quality at reasonable valuations rather than chasing the market’s latest obsessions.

Data sources: Leon Cooperman’s SEC filings as of March 4, 2025