Leon Cooperman likes GM and these other stocks, even as he's worried about the overall market

Leon Cooperman
Scott Mlyn | CNBC

Billionaire investor Leon Cooperman said Wednesday that he still sees attractive opportunities in the stock market despite his reservations about the long-term outlook for equities.

The Omega Family Office warned on CNBC's "Squawk Box" that he thought interest rates would rise over time and put pressure on stock valuations, but he also revealed his largest holdings and explained what areas of the market he sees value in.

"There's a meaningful chunk of the market today that is in euphoria. You see 50% price moves, you see a SPAC a minute. That's stuff that's ringing the bell," Cooperman said. "On the other hand, I find a lot of things that are attractive. So I'm finding things to do, investments to be made, but very I'm skeptical about the overall outlook."

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