Leon Cooperman's favorite stocks as hedge fund billionaire begins new phase of career

  • Billionaire Leon Cooperman had a few last stock ideas to share on CNBC's Halftime Report.
  • He likes the stocks of AMC Networks, Citigroup, CVS Health, Keane, Nabors and United Continental.
  • Cooperman's Omega Advisors is converting to a family office at the end of 2018.

Billionaire Leon Cooperman had a few last stock ideas to share on CNBC's Halftime Report on Tuesday before he closes his hedge-fund to outside investors at the end of the year.

Cooperman shared six of his best ideas in the interview, explaining a few reasons why he thinks the stocks — AMC Networks, Citigroup, CVS Health, Keane, Nabors and United Continental — are a good value for investors.

He thinks AMC is an interesting stock due to stock buybacks from the Dolan family, which owns 17 percent of the economic interest in the TV networks company.

"I believe you’ve got to pay attention when a 17 percent owner is aggressively buying back stock," Cooperman said.

Keane and Nabors are both energy stocks which Cooperman sees benefiting from a rise in the price of oil.

"I think that the price of oil is going to be rising, not declining, which will be good for their business," Cooperman said.

Cooperman's Omega Advisors is converting to a family office at the end of 2018, according to an investor letter obtained by CNBC on Monday. Cooperman's main fund generated annualized returns of 12.4 percent since inception versus the S&P 500's 9.5 percent return including reinvested dividends, according to Institutional Investor.