Founded by Leon cooperman in 1991, Omega Advisors Inc. is a hedge fund firm active in alternative market investments, fixed income, and public equity. The fund manages client focused portfolios, and also offers its services to corporations, charitable organizations, as well as pension and profit sharing entities. Its SEC 13F filing dated November 14, 2014 discloses a portfolio worth approximately $6.7 billion in value. Among its top investments are stock holdings in American International Group Inc (NYSE:AIG), Citigroup Inc (NYSE:C), and Sirius XM Holdings Inc. (NASDAQ:SIRI). (You can see complete list of Omega Advisors Inc.’s holdings here)
American International Group Inc (NYSE:AIG) enjoys an investment worth about $283.4 million in value representing more than 5.2 million shares from Omega Advisors Inc. As a global insurance company, recent performance of American International Group Inc (NYSE:AIG) beat its own forecast. It reported an earnings of $1.25 per share two quarters back, as against a forecast of $1.05 per share, beating the estimate by 19.1%. Report covering the most recent quarter indicates an earnings per share of $1.21, as against a forecast of $1.08 per share, an income of 12% above estimates. Other hedge fund firms with interest in American International Group Inc (NYSE:AIG) include Fairholme (Fairx) and Perry Capital.
Citigroup Inc (NYSE:C) has an investment from Omega Advisors Inc. in the amount of $267.4 million covering more than 5.1 million shares. With its interest tied to diversified financial services in a global range, Citigroup Inc (NYSE:C) is optimistic that low oil prices will stimulate economic growth worldwide. Citigroup Inc (NYSE:C) was among the five largest global banks to have suffered recently from Asian, American, and European investigations regarding foreign exchange trading practices.
Sirius XM Holdings Inc. (NASDAQ:SIRI) is also among the largest stock holdings of Omega Advisors Inc., with the hedge fund firm owning about 57 million shares valued at $201.1 million. Quarterly reports of Sirius XM Holdings Inc. (NASDAQ:SIRI) indicate a sales growth of 3.77% and 2.10% for the 2nd and 3rd quarter 0f 2014, respectively, and a net income growth of 27.63% and 13.51% covering the same period. Third quarter revenue of $1.057 billion beats estimates of $1.04 billion. Sirius XM Holdings Inc. (NASDAQ:SIRI)’s net income of $136 million is within analysts’ expectations.
This article has been written by Nonito Guntan and edited by Serkan Unal.