Omega Advisors Q1 2026 13F Holdings and Activity Report

I. Institutional Overview

Leon Cooperman, the founder of Omega Advisors and a legendary figure in the hedge fund industry, has long been recognized for his meticulous value-oriented investment philosophy. A former partner at Goldman Sachs and a billionaire investor, Cooperman’s approach is characterized by a "value with a catalyst" mindset. He often seeks out companies that are undervalued by the market but possess specific drivers—such as management changes, industry shifts, or capital allocation improvements—that could unlock significant shareholder value. As of the first quarter of 2026, the institutional portfolio managed by Omega Advisors stands at a substantial total market value of approximately $3.05 billion . This figure represents a robust capital base that allows the firm to take significant, high-conviction positions in various sectors of the economy.

This section shows only part of the complete report. View the app for the full analysis, position-level detail, and quarter-over-quarter tracking.

II. Sector Allocation Analysis

The concentration of the portfolio is particularly striking. The top three sectors— Industrials, Financials, and Energy —collectively account for approximately 71.35% of the total portfolio value. This level of concentration indicates a highly focused investment strategy. In institutional terms, when the top three sectors exceed 70% of the total weight, the manager is making a definitive statement about where they believe the most significant opportunities lie. This is not a "closet indexing" approach; it is a bold allocation that ties the firm's performance closely to the health of these specific industries.

The Industrials sector, at 28.57%, is the largest allocation. However, a deeper look reveals that this is not just a bet on traditional manufacturing. A significant portion of this weight is driven by the firm's largest holding, which operates at the intersection of industrials and technology infrastructure. This suggests that the institution views the "physical layer" of the digital revolution—such as data center cooling and power management—as a more attractive entry point than the high-valuation software or semiconductor companies themselves. This is a classic value investor's way of playing a growth theme: buying the "picks and shovels" of the AI and data boom at more reasonable industrial valuations.

This section shows only part of the complete report. View the app for the full analysis, position-level detail, and quarter-over-quarter tracking.

III. Top 10 Holdings Deep Dive

VRT (Vertiv Holdings Co) stands as the undisputed crown jewel of the portfolio, with a staggering 17.74% weight . This is a classic "conviction holding" that has been in the portfolio since September 2020. Vertiv provides essential infrastructure for data centers, including power management and thermal cooling solutions. As the demand for AI and cloud computing explodes, the physical requirements for cooling high-performance chips have become a critical bottleneck. Vertiv sits at the center of this trend. Interestingly, the institution did not change its share count this quarter, yet the portfolio weight increased from 11.6% to 17.74%. This indicates a massive organic appreciation in the stock price. Cooperman is essentially "letting his winner run," showing immense trust in the company’s ability to maintain its leadership in the data center infrastructure space. The logic here is clear: rather than betting on which AI software will win, bet on the hardware that every AI data center must use.

This section shows only part of the complete report. View the app for the full analysis, position-level detail, and quarter-over-quarter tracking.

IV. Major Buys/Additions

The most aggressive move this quarter was the massive addition to OMF (OneMain Holdings, Inc.) . The institution increased its stake by 186.43% , committing an estimated $69.8 million in new capital. This is a classic "valuation trough mining" operation. OneMain is a leading provider of personal loans to non-prime consumers. By nearly tripling its position, Omega Advisors is signaling a strong belief that the risks associated with consumer credit are overblown and that the company’s high-yield profile offers an exceptional risk-reward ratio. This move suggests that Cooperman sees a "soft landing" for the economy, where employment remains strong enough for subprime borrowers to continue servicing their debts, allowing OneMain to maintain its lucrative lending margins.

This section shows only part of the complete report. View the app for the full analysis, position-level detail, and quarter-over-quarter tracking.

V. Major Sells and Exits

The most significant liquidation this quarter was the complete exit from RRX (Regal Rexnord Corporation) , realizing an estimated $96.8 million . This was a "Strategic Retreat" from a position held for over three years. Regal Rexnord is a major manufacturer of electric motors and power transmission components. An exit of this magnitude suggests that the institution believes the stock has reached its full valuation or that the industrial cycle for its specific products has peaked. Given the long holding period, this is likely a successful "profit-taking" operation where the manager decided to harvest gains and reallocate the capital to higher-growth opportunities in the financial sector. It marks a clear shift away from traditional heavy manufacturing.

This section shows only part of the complete report. View the app for the full analysis, position-level detail, and quarter-over-quarter tracking.

VI. Investment Insights and Risk Warnings

The overall logic chain is clear: Sell mature industrials -> Harvest gains from long-term winners -> Reinvest in high-yield consumer credit and selective mega-cap growth. This strategy seeks to capture both the structural growth of the tech-industrial complex and the cyclical recovery of the financial markets. For retail investors, the reference value here lies in the institution's industry trend judgments—specifically the bullishness on data center infrastructure and the contrarian bet on consumer credit. However, it is important to remember that Omega Advisors has the capital scale to absorb the volatility that comes with such concentrated bets, a luxury that individual investors may not share.

This section shows only part of the complete report. View the app for the full analysis, position-level detail, and quarter-over-quarter tracking.

Sources and limitations

This report uses public U.S. Securities and Exchange Commission Form 13F disclosures and structured data maintained by 13F Hub. A 13F filing is a quarter-end snapshot of reportable long positions, is normally published with a delay, and does not disclose every short position, cash balance, bond, derivative, or non-U.S. asset.

Narrative content is prepared from the same-period SEC disclosure and 13F Hub structured data, then checked before publication. This material is for research and education, not personalized investment advice.