13F-HR 1 oai13fhr072009.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: June 30, 2009 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 July 21, 2009 ------------------------- -------------------------- -------------------- [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: 0 -------------- Form 13F Information Table Entry Total: 85 -------------- Form 13F Information Table Value Total: $2,211,845 -------------- (in thousands) List of Other Included Managers: None --------------

Title of Value SH/PRN SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP (x1000) Amount PRN Call Discretion Managers Sole Shared None -------------- ----- ----- ------- ------ --- ---- ---------- -------- ---- ------ ---- 3M CO COM 88579Y101 5551 92365 SH Sole 92365 ACE LTD SHS H0023R105 3494 79000 SH Sole 79000 AES CORP COM 00130H105 77766 6698157 SH Sole 6698157 ASPEN INSURANCE HOLDINGS LTD SHS G05384105 2234 100000 SH Sole 100000 ATLAS AMERICA INC COM 049167109 62676 3507338 SH Sole 3507338 ATLAS ENERGY RESOURCES LLC COM 049303100 79827 3907327 SH Sole 3907327 ATLAS PIPELINE HOLDINGS LP COM UNITS LP 04939R108 5886 1590756 SH Sole 1590756 ATLAS PIPELINE PARTNERS LP UNIT L P INT 049392103 29185 3666418 SH Sole 3666418 AVID TECHNOLOGY INC COM 05367P100 2610 194607 SH Sole 194607 AXIS CAPITAL HOLDINGS LTD SHS G0692U109 39897 1523960 SH Sole 1523960 BANK OF AMERICA CORP COM 060505104 51794 3923800 SH Sole 3923800 BERKSHIRE HATHAWAY INC-CL A CL A 084670108 16920 188 SH Sole 188 BREITBURN ENERGY PARTNERS LP COM UNIT LTD PTN 106776107 6295 819600 SH Sole 819600 CARNIVAL CORP PAIRED CTF 143658300 5139 199400 SH Sole 199400 CENTURYTEL INC COM 156700106 5531 180162 SH Sole 180162 CONTINENTAL AIRLINES-CLASS B CL B 210795308 21416 2417100 SH Sole 2417100 COVIDIEN PLC SHS G2554F105 2995 80000 SH Sole 80000 DELL INC COM 24702R101 3345 243600 SH Sole 243600 DELTA AIR LINES INC COM 247361702 24686 4263500 SH Sole 4263500 DIRECTV GROUP INC/THE COM 25459L106 29181 1180943 SH Sole 1180943 DISH NETWORK CORP-A CL A 25470M109 15198 937600 SH Sole 937600 DOMTAR CORP COM NEW 257559203 9028 544538 SH Sole 544538 EBAY INC COM 278642103 70669 4125462 SH Sole 4125462 ECHOSTAR CORP-A CL A 278768106 478 30000 SH Sole 30000 EDISON INTERNATIONAL COM 281020107 5914 188000 SH Sole 188000 ELECTRONIC ARTS INC COM 285512109 17480 804800 SH Sole 804800 EMC CORP/MASS COM 268648102 16216 1237900 SH Sole 1237900 EMULEX CORP COM 292475209 12927 1321800 SH Sole 1321800 ENTERPRISE GP HOLDINGS LP UNIT LP INT 293716106 30621 1218500 SH Sole 1218500 EVERGREEN SOLAR INC COM 30033R108 217 100000 SH Sole 100000 EXELON CORP COM 30161N101 40381 788544 SH Sole 788544 EXTERRAN HOLDINGS INC COM 30225X103 3425 213500 SH Sole 213500 GIVEN IMAGING LTD ORD SHS M52020100 9640 978709.01 SH Sole 978709.01 GOVERNMENT PROPERTIES INCOME COM SHS 38376A103 2053 100000 SH Sole 100000 HALLIBURTON CO COM 406216101 14331 692300 SH Sole 692300 HILLTOP HOLDINGS INC COM 432748101 7798 656975 SH Sole 656975 IPC HOLDINGS LTD ORD G4933P101 6234 228000 SH Sole 228000

Title of Value SH/PRN SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP (x1000) Amount PRN Call Discretion Managers Sole Shared None -------------- ----- ----- ------- ------ --- ---- ---------- -------- ---- ------ ---- KKR FINANCIAL HOLDINGS LLC COM 48248A306 9669 10397167 SH Sole 10397167 LINCOLN NATIONAL CORP COM 534187109 45672 2653800 SH Sole 2653800 LINN ENERGY LLC-UNITS UNIT LTD LIAB 536020100 111815 5713601 SH Sole 5713601 LORILLARD INC COM 544147101 44057 650090 SH Sole 650090 MARATHON OIL CORP COM 565849106 10271 340900 SH Sole 340900 MEMC ELECTRONIC MATERIALS COM 552715104 1069 60000 SH Sole 60000 MICROSOFT CORP COM 594918104 4170 175434 SH Sole 175434 MORGAN STANLEY COM 617446448 16214 568700 SH Sole 568700 NORTHSTAR REALTY FINANCE COR COM 66704R100 7875 2782810 SH Sole 2782810 NOVELL INC COM 670006105 227 50000 SH Sole 50000 NUCOR CORP COM 670346105 27978 629700 SH Sole 629700 PROSHARES ULTRASHORT REAL ES PSHS REAL ESTAT 74347R552 689 35000 SH Sole 35000 PWRSHS DB GOLD DOUBLE LONG PS GOLD DL ETN 25154H749 99 5000 SH Sole 5000 QUALCOMM INC COM 747525103 7449 164803 SH Sole 164803 QWEST COMMUNICATIONS INTL COM 749121109 9663 2328435 SH Sole 2328435 RESOURCE AMERICA INC-CL A CL A 761195205 6429 1195000 SH Sole 1195000 RESOURCE CAPITAL CORP COM 76120W302 5751 1797033 SH Sole 1797033 ROCKWOOD HOLDINGS INC COM 774415103 602 41100 SH Sole 41100 SAP AG-SPONSORED ADR SPON ADR 803054204 1809 45000 SH Sole 45000 SCHERING-PLOUGH CORP COM 806605101 90000 3582800 SH Sole 3582800 SHIRE PLC-ADR SPON ADR 82481R106 5786 139500 SH Sole 139500 SLM CORP COM 78442P106 176512 17187100 SH Sole 17187100 SPDR BARCLAYS CAPITAL HIGH BRCLAYS YLD ETF 78464A417 31657 899600 SH Sole 899600 SPDR GOLD TRUST GOLD SHS 78463V107 14771 162000 SH Sole 162000 SPDR TRUST SERIES 1 UNIT SER 1 78462F103 87281 949225 SH Sole 949225 STARBUCKS CORP COM 855244109 6923 498400 SH Sole 498400 SUNPOWER CORP-CLASS A COM CL A 867652109 1663 62500 SH Sole 62500 SUNTRUST BANKS INC COM 867914103 3282 199500 SH Sole 199500 TERADATA CORP COM 88076W103 1305 55700 SH Sole 55700 TEVA PHARMACEUTICAL-SP ADR SPON ADR 881624209 72168 1462664 SH Sole 1462664 TOWER GROUP INC COM 891777104 22445 905763 SH Sole 905763 TRANSATLANTIC HOLDINGS INC COM 893521104 14373 331700 SH Sole 331700 TRANSOCEAN LTD REG SHS H8817H100 157878 2125164 SH Sole 2125164 TRAVELERS COS INC/THE COM 89417E109 878 21400 SH Sole 21400 TYCO INTERNATIONAL LTD SHS H89128104 1299 50000 SH Sole 50000 UNITEDHEALTH GROUP INC COM 91324P102 50696 2029476 SH Sole 2029476 VALIDUS HOLDINGS LTD COM SHS G9319H102 15692 713900 SH Sole 713900 VIASAT INC COM 92552V100 3584 139800 SH Sole 139800 VIMPELCOM-SP ADR SPON ADR 68370R109 177 15000 SH Sole 15000

Title of Value SH/PRN SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP (x1000) Amount PRN Call Discretion Managers Sole Shared None -------------- ----- ----- ------- ------ --- ---- ---------- -------- ---- ------ ---- WELLPOINT INC COM 94973V107 102264 2009507 SH Sole 2009507 WELLS FARGO & CO COM 949746101 12098 498700 SH Sole 498700 WILLIAMS COS INC COM 969457100 63244 4051508 SH Sole 4051508 WILLIS GROUP HOLDINGS LTD SHS G96655108 61536 2391600 SH Sole 2391600 WYETH COM 983024100 67858 1495000 SH Sole 1495000 WYNDHAM WORLDWIDE CORP COM 98310W108 39723 3277496 SH Sole 3277496 XL CAPITAL LTD -CLASS A CL A G98255105 47177 4116637 SH Sole 4116637 XTO ENERGY INC COM 98385X106 3799 99600 SH Sole 99600 YAHOO! INC COM 984332106 5230 333945 SH Sole 333945