Leon Cooperman's Omega Advisors bought two media stocks in the first quarter, according to a Monday filing with the U.S.
Omega increased its investment in Google parent Alphabet's Class A shares, the hedge fund's biggest holding, worth just over $152 million at Monday's prices.
The firm also added a new position in Gigamon, which makes software to manage traffic online. Last Monday, an SEC filing showed activist hedge fund Elliott Management purchased a 15.3 percent stake in the stock, noting that shares are "significantly undervalued."
The filing also showed that in the first quarter Omega exited stakes in financial brokerage ETrade, and energy companies Williams Cos and Anadarko Petroleum Corporation. The hedge fund held less than 1 million shares each in the three closed positions.
Cooperman told CNBC in January that assets under management shrank by more than half to $3.4 billion.