13F-HR 1 omega13fhr021110.txt FORM 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Report for the Calendar Year or Quarter Ended: December 31, 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 February 12, 2010 ------------------ ------------------ ----------------- [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: 95 Form 13F Information Table Value Total: $ 3,032,757 (in thousands) List of Other Included Managers: NONE

Title Value SH/PRN SH/ Put/ Investment Other Voting Authority Name of Issuer of Class CUSIP (x1000) Amount PRN Call Discretion Managers Sole Shared None ---------------------------- --------------- --------- ------- ---------- --- ---- ---------- -------- ---- ------ ---- 3M CO COM 88579Y101 6,065 73,365 SH Sole 73,365 ACE LTD SHS H0023R105 4,536 90,000 SH Sole 90,000 ADVANCE AUTO PARTS INC COM 00751Y106 5,493 135,700 SH Sole 135,700 AES CORP COM 00130H105 79,384 5,964,257 SH Sole 5,964,257 AMERICAN EAGLE OUTFITTERS COM 02553E106 615 36,200 SH Sole 36,200 APOLLO INVESTMENT CORP COM 03761U106 28,944 3,037,100 SH Sole 3,037,100 ATLAS ENERGY INC COM 049298102 183,985 6,098,275 SH Sole 6,098,275 ATLAS PIPELINE HOLDINGS LP COM UNITS LP 04939R108 10,435 1,539,156 SH Sole 1,539,156 ATLAS PIPELINE PARTNERS LP UNIT LP INT 49392103 42,648 4,347,418 SH Sole 4,347,418 AUTOZONE INC COM 053332102 2,498 15,800 SH Sole 15,800 AXIS CAPITAL HOLDINGS LTD SHS G0692U109 38,858 1,367,754 SH Sole 1,367,754 BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 5,576 400,000 SH Sole 400,000 BANK OF AMERICA CORP COM 060505104 56,044 3,721,400 SH Sole 3,721,400 BORDERS GROUP INC COM 099709107 235 199,099 SH Sole 199,099 BROADRIDGE FINANCIAL SOLUTIO COM 11133T103 39,563 1,753,700 SH Sole 1,753,700 CABLEVISION SYSTEMS CL A NY 12686C109 37,760 1,462,417 SH Sole 1,462,417 CARNIVAL CORP PAIRED CTF 143658300 6,195 195,500 SH Sole 195,500 CARTER INC COM 146229109 950 36,200 SH Sole 36,200 CASUAL MALE RETAIL GROUP INC COM 148711302 1,370 588,081 SH Sole 588,081 CHINA LIFE INSURANCE CO SPON ADR 16939P106 23,362 318,500 SH Sole 318,500 CLOUD PEAK ENERGY INC COM 18911Q102 3,953 271,500 SH Sole 271,500 COMCAST CORP CL A 20030N101 1,644 97,500 SH Sole 97,500 COMCAST CORP CL A SPL 20030N200 71,315 4,454,400 SH Sole 4,454,400 CONTINENTAL AIRLINES INC CL B 210795308 45,026 2,512,600 SH Sole 2,512,600 CORRECTIONS CORP OF AMERICA COM 22025Y407 1,841 75,000 SH Sole 75,000 COVIDIEN PLC SHS G2554F105 34,165 713,400 SH Sole 713,400 CROCS INC COM 227046109 10,934 1,901,485 SH Sole 1,901,485 DELTA AIR LINES INC COM 247361702 46,470 4,083,500 SH Sole 4,083,500 DIRECTV COM CL A 25490A101 25,972 778,765 SH Sole 778,765 DISH NETWORK CORP CL A 25470M109 34,410 1,656,700 SH Sole 1,656,700 DOMINO'S PIZZA INC COM 25754A201 1,113 132,831 SH Sole 132,831 DOMTAR CORP COM 257559203 30,128 543,737 SH Sole 543,737 E*TRADE FINANCIAL CORP COM 269246104 62,843 35,910,100 SH Sole 35,910,100 EASTMAN KODAK CO COM 277461109 773 183,145 SH Sole 183,145

Title Value SH/PRN SH/ Put/ Investment Other Voting Authority Name of Issuer of Class CUSIP (x1000) Amount PRN Call Discretion Managers Sole Shared None ---------------------------- --------------- --------- ------- ---------- --- ---- ---------- -------- ---- ------ ---- EBAY INC COM 278642103 87,622 3,722,262 SH Sole 3,722,262 ECHOSTAR CORP CL A 278768106 12,706 630,900 SH Sole 630,900 ENERGY XXI (BERMUDA) LTD COM SHS G10082108 31,699 13,722,400 SH Sole 13,722,400 ENTERPRISE GP HOLDINGS LP UNIT LP INT 293716106 8,760 224,800 SH Sole 224,800 EXELON CORP COM 30161N101 37,070 758,544 SH Sole 758,544 EXXON MOBIL CORP COM 30231G102 23,253 341,000 SH Sole 341,000 FORD MOTOR CO COM 345370860 47,085 4,708,500 SH Sole 4,708,500 FORESTAR GROUP INC COM 346233109 1,649 75,000 SH Sole 75,000 GIVEN IMAGING LTD ORD SHS M52020100 34,873 1,997,310 SH Sole 1,997,310 GOLDMAN SACHS GROUP INC COM 38141G104 19,923 118,000 SH Sole 118,000 GREAT WOLF RESORTS INC COM 391523107 117 49,463 SH Sole 49,463 HESS CORP COM 42809H107 12,100 200,000 SH Sole 200,000 ICONIX BRAND GROUP INC COM 451055107 1,623 128,283 SH Sole 128,283 INTERNET BRANDS INC COM CL A 460608102 2,087 266,600 SH Sole 266,600 JPMORGAN CHASE & CO COM 46625H100 18,210 437,000 SH Sole 437,000 KAR AUCTION SERVICES INC COM 48238T109 3,861 280,000 SH Sole 280,000 KKR FINANCIAL HOLDINGS LLC COM 48248A306 78,216 13,485,567 SH Sole 13,485,567 KOHLS CORP COM 500255104 6,331 117,400 SH Sole 117,400 LIBERTY GLOBAL INC COM SER A 530555101 3,484 158,999 SH Sole 158,999 LIBERTY MEDIA LIB STAR COM A 53071M708 4,581 99,260 SH Sole 99,260 LINCOLN NATIONAL CORP COM 534187109 66,201 2,660,800 SH Sole 2,660,800 LINN ENERGY LLC UNIT LTD LIAB 536020100 99,992 3,586,501 SH Sole 3,586,501 LORILLARD INC COM 544147101 45,899 572,090 SH Sole 572,090 MAGELLAN HEALTH SERVICES INC COM 559079207 13,722 336,900 SH Sole 336,900 MCDONALD'S CORP COM 580135101 38,600 618,200 SH Sole 618,200 MERCK & CO. INC. COM 58933Y105 85,110 2,329,215 SH Sole 2,329,215 MGIC INVESTMENT CORP COM 552848103 38,410 6,645,300 SH Sole 6,645,300 MULTIMEDIA GAMES INC COM 625453105 1,324 220,219 SH Sole 220,219 NEWELL RUBBERMAID INC COM 651229106 1,028 68,489 SH Sole 68,489 NORTHSTAR REALTY FINANCE COR COM 66704R100 7,376 2,150,341 SH Sole 2,150,341 NUCOR CORP COM 670346105 31,521 675,700 SH Sole 675,700 PEPSICO INC COM 713448108 19,158 315,100 SH Sole 315,100 PFIZER INC COM 717081103 92,621 5,091,871 SH Sole 5,091,871 PMI GROUP INC/THE COM 69344M101 4,201 1,667,000 SH Sole 1,667,000 RAYTHEON COMPANY COM 755111507 11,077 215,000 SH Sole 215,000 RESOURCE AMERICA INC CL A 761195205 4,828 1,195,000 SH Sole 1,195,000

Title Value SH/PRN SH/ Put/ Investment Other Voting Authority Name of Issuer of Class CUSIP (x1000) Amount PRN Call Discretion Managers Sole Shared None ---------------------------- --------------- --------- ------- ---------- --- ---- ---------- -------- ---- ------ ---- SELECT MEDICAL HOLDINGS CORP COM 81619Q105 26,550 2,500,000 SH Sole 2,500,000 SHAW GROUP INC COM 820280105 9,603 334,000 SH Sole 334,000 SLM CORP COM 78442P106 181,106 16,069,700 SH Sole 16,069,700 SPDR BARCLAYS CAPITAL HIGH BRCLYS YLD ETF 78464A417 44,937 1,155,500 SH Sole 1,155,500 STATE STREET CORP COM 857477103 28,985 665,700 SH Sole 665,700 SUNOCO INC COM 86764P109 7,830 300,000 SH Sole 300,000 TALBOTS INC COM 874161102 1,290 144,799 SH Sole 144,799 TARGET CORP COM 87612E106 6,336 131,000 SH Sole 131,000 TEMPUR-PEDIC INTERNATIONAL COM 88023U101 1,361 57,607 SH Sole 57,607 TEREX CORP COM 880779103 22,235 1,122,400 SH Sole 1,122,400 TEVA PHARMACEUTICAL SPON ADR 881624209 84,762 1,508,764 SH Sole 1,508,764 TOWER GROUP INC COM 891777104 17,934 766,063 SH Sole 766,063 TRANSATLANTIC HOLDINGS INC COM 893521104 18,296 351,100 SH Sole 351,100 TRANSOCEAN LTD REG SHS H8817H100 176,419 2,130,664 SH Sole 2,130,664 TRAVELERS COS INC/THE COM 89417E109 42,895 860,300 SH Sole 860,300 UNITEDHEALTH GROUP INC COM 91324P102 52,949 1,737,176 SH Sole 1,737,176 VALIDUS HOLDINGS LTD COM SHS G9319H102 41,035 1,523,200 SH Sole 1,523,200 VODAFONE GROUP PLC SPON ADR 92857W209 3,270 141,600 SH Sole 141,600 WELLPOINT INC COM 94973V107 102,410 1,756,907 SH Sole 1,756,907 WELLS FARGO & CO COM 949746101 26,990 1,000,000 SH Sole 1,000,000 WILLIAMS COS INC COM 969457100 84,832 4,024,308 SH Sole 4,024,308 WILLIS GROUP HOLDINGS LTD SHS G96655108 8,518 322,900 SH Sole 322,900 WYNDHAM WORLDWIDE CORP COM 98310W108 6,600 327,200 SH Sole 327,200 XL CAPITAL LTD CL A G98255105 73,042 3,984,837 SH Sole 3,984,837 YAHOO! INC COM 984332106 21,151 1,260,500 SH Sole 1,260,500