13F-HR 1 oai13fhr111108.txt FORM 13F-HR - OMEGA ADVISORS, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Report for the Calendar Year or Quarter Ended: September 30, 2008 Check here if Amendment [ ] Amendment Number: ------------------ Institutional Investment Manager Filing this Report: Name: Omega Advisors, Inc. Address: Wall Street Plaza 88 Pine Street New York, NY 10005 Form 13F File Number: 28-3530 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all the information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Leon G. Cooperman ----------------- Title: Chairman and CEO ----------------- Phone: (212) 495-5210 ----------------- Signature, Place, and Date of Signing: /s/ Leon Cooperman New York, New York November 13, 2008 ------------------------- -------------------------- -------------------- [Signature] [City, State] [Date] Report Type: [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: None -------------- Form 13F Information Table Entry Total: 61 -------------- Form 13F Information Table Value Total: $2,298,997 -------------- (in thousands) List of Other Included Managers: None --------------

Voting Authority Title of Market Value Shares/Prn SH/ Put/ Investment Name of Issuer Class CUSIP (x1000) Amount Prn Call Discretion Sole Shared None -------------- ----- ----- ------- ------ --- ---- ---------- ---- ------ ---- AES CORP COM 00130H105 63735 5452100 SH Sole 5452100 AETNA INC COM 00817Y108 28798 797500 SH Sole 797500 ATLAS PIPELINE HOLDINGS LP COM UNITS LP 04939R108 16855 699356 SH Sole 699356 AMERICAN TOWER CORP-CL A CL A 029912201 22039 612700 SH Sole 612700 ATLAS PIPELINE PARTNERS LP UNIT L P INT 049392103 90707 3558518 SH Sole 3558518 ATLAS AMERICA INC COM 049167109 112478 3297497 SH Sole 3297497 ATLAS ENERGY RESOURCES LLC COM 049303100 97450 3777127 SH Sole 3777127 BOEING CO COM 097023105 38195 666000 SH Sole 666000 BPW ACQUISITION CORP-UNIT UNIT 99/99/9999 055637201 9259 1027600 SH Sole 1027600 BARR PHARMACEUTICALS INC COM 068306109 25252 386700 SH Sole 386700 CB RICHARD ELLIS GROUP INC-A CL A 12497T101 5682 425000 SH Sole 425000 CROWN CASTLE INTL CORP COM 228227104 6475 223500 SH Sole 223500 CIT GROUP INC COM 125581108 36232 5205800 SH Sole 5205800 CASTLEPOINT HOLDINGS LTD COM G19522112 6066 545000 SH Sole 545000 CVS CAREMARK CORP COM 126650100 35930 1067429 SH Sole 1067429 DISCOVER FINANCIAL SERVICES COM 254709108 32205 2330300 SH Sole 2330300 DISH NETWORK CORP-A CL A 25470M109 43073 2051100 SH Sole 2051100 DAVITA INC COM 23918K108 0 0 SH Sole 0 EBAY INC COM 278642103 40036 1788900 SH Sole 1788900 ENTERPRISE GP HOLDINGS LP UNIT LP INT 293716106 33741 1433950 SH Sole 1433950 FREEPORT-MCMORAN COPPER COM 35671D857 42052 739700 SH Sole 739700 GIVEN IMAGING LTD ORD SHS M52020100 11238 1007909.01 SH Sole 1007909.01 CORNING INC COM 219350105 101987 6520900 SH Sole 6520900 HALLIBURTON CO COM 406216101 39393 1216200 SH Sole 1216200 HILLTOP HOLDINGS INC COM 432748101 3856 373675 SH Sole 373675 HATTERAS FINANCIAL CORP COM 41902R103 6380 275000 SH Sole 275000 JPMORGAN CHASE & CO COM 46625H100 2839 60800 SH Sole 60800 KKR FINANCIAL HOLDINGS LLC COM 48248A306 25056 3939602 SH Sole 3939602 LINN ENERGY LLC-UNITS UNIT LTD LIAB 536020100 86690 5666001 SH Sole 5666001 MIRANT CORP COM 60467R100 31148 1702980 SH Sole 1702980 3M CO COM 88579Y101 62101 909100 SH Sole 909100 MAGUIRE PROPERTIES INC COM 559775101 12977 2177300 SH Sole 2177300 NRDC ACQUISITION CORP COM 62941R102 9000 1000000 SH Sole 1000000 ANNALY CAPITAL MANAGEMENT IN COM 035710409 10619 789500 SH Sole 789500 NUCOR CORP COM 670346105 72949 1846800 SH Sole 1846800

Voting Authority Title of Market Value Shares/Prn SH/ Put/ Investment Name of Issuer Class CUSIP (x1000) Amount Prn Call Discretion Sole Shared None -------------- ----- ----- ------- ------ --- ---- ---------- ---- ------ ---- POTASH CORP OF SASKATCHEWAN COM 73755L107 16950 128400 SH Sole 128400 RAIT FINANCIAL TRUST COM 749227104 9850 1794162 SH Sole 1794162 RESOURCE AMERICA INC-CL A CL A 761195205 11353 1195000 SH Sole 1195000 TRANSOCEAN INC SHS G90073100 177660 1617447 SH Sole 1617447 RESEARCH IN MOTION COM 760975102 74433 1089800 SH Sole 1089800 ROCKWELL AUTOMATION INC COM 773903109 12162 325700 SH Sole 325700 RESOURCE CAPITAL CORP COM 76120W302 17570 2899333 SH Sole 2899333 SERVICE CORP INTERNATIONAL COM 817565104 3950 472500 SH Sole 472500 SHIRE PLC-ADR SPONSORED ADR 82481R106 69634 1458300 SH Sole 1458300 SLM CORP COM 78442P106 74465 6034400 SH Sole 6034400 PROSHARES ULTRASHORT REAL ES REAL EST PRO 74347R552 6467 84000 SH Sole 84000 TIMBERLAND CO-CL A CL A 887100105 18235 1049800 SH Sole 1049800 TRIPLECROWN ACQUISITION CORP COM 89677G109 15930 1800000 SH Sole 1800000 TEXTRON INC COM 883203101 38617 1318900 SH Sole 1318900 DOMTAR CORP COM 257559104 24902 5413500 SH Sole 5413500 UNITEDHEALTH GROUP INC COM 91324P102 99224 3908000 SH Sole 3908000 UNITRIN INC COM 913275103 13595 545100 SH Sole 545100 VICTORY ACQUISITION CORP COM 92644D100 14250 1500000 SH Sole 1500000 VICTORY ACQUISITION-CW11 *W EXP 04/24/201 92644D118 675 1500000 SH Sole 1500000 WELLPOINT INC COM 94973V107 86132 1841600 SH Sole 1841600 WILLIAMS COS INC COM 969457100 41896 1771500 SH Sole 1771500 WYNDHAM WORLDWIDE CORP COM 98310W108 5089 323900 SH Sole 323900 XL CAPITAL LTD -CLASS A CL A G98255105 85721 4778200 SH Sole 4778200 NOKIA CORP-SPON ADR SPONSORED ADR 654902204 46093 2471400 SH Sole 2471400 RYANAIR HOLDINGS PLC-SP ADR SPONSORED ADR 783513104 5567 248200 SH Sole 248200 TEVA PHARMACEUTICAL-SP ADR ADR 881624209 66084 1443200 SH Sole 1443200