13F-HR 1 omega13fhr050410.txt FORM 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Report for the Calendar Year or Quarter Ended: March 31, 2010 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 May 4, 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: 106 Form 13F Information Table Value Total: $ 3,814,935 (in thousands) List of Other Included Managers: NONE

VOTING AUTHORITY VALUE SH/PRN SH/ PUT/ INVESTMENT OTHER ---------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X1000) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ----------------------------- -------------- --------- ------- ------ --- ---- ---------- -------- ---------- ------ ---- 1-800-FLOWERS.COM INC CL A 68243Q106 103 41,107 SH 41,107 3M CO COM 88579Y101 6,042 72,300 SH 72,300 ACE LTD SHS H0023R105 28,300 541,100 SH 541,100 ADC TELECOMMUNICATIONS INC COM 000886309 6,640 908,300 SH 908,300 AES CORP COM 00130H105 69,591 6,326,457 SH 6,326,457 AKAMAI TECHNOLOGIES COM 00971T101 4,034 128,400 SH 128,400 ALTISOURCE PORTFOLIO SOL REG SHS L0175J104 10,161 453,600 SH 453,600 APOLLO INVESTMENT CORP COM 03761U106 36,974 2,904,500 SH 2,904,500 ATLAS ENERGY INC COM 049298102 177,169 5,693,100 SH 5,693,100 ATLAS PIPELINE HOLDINGS LP COM UNITS LP 04939R108 3,138 500,400 SH 500,400 ATLAS PIPELINE PARTNERS LP UNIT LP INT 049392103 57,689 4,144,318 SH 4,144,318 AXIS CAPITAL HOLDINGS LTD SHS G0692U109 34,444 1,101,854 SH 1,101,854 BANK OF AMERICA CORP COM 060505104 79,279 4,441,400 SH 4,441,400 BORDERS GROUP INC COM 099709107 188 109,526 SH 109,526 BROADRIDGE FINANCIAL SOL COM 11133T103 79,638 3,724,900 SH 3,724,900 CABLEVISION SYSTEMS CL A NY 12686C109 40,807 1,690,417 SH 1,690,417 CADENCE DESIGN SYS INC COM 127387108 6,208 930,800 SH 930,800 CARNIVAL CORP PAIRED CTF 143658300 18,717 481,400 SH 481,400 CASUAL MALE RETAIL GROUP INC COM 148711302 2,840 736,765 SH 736,765 CIT GROUP INC COM NEW 125581801 12,307 315,900 SH 315,900 COACH INC COM 189754104 12,844 325,000 SH 325,000 COINSTAR INC COM 19259P300 2,840 87,399 SH 87,399 COMCAST CORP CL A 20030N101 1,836 97,500 SH 97,500 COMCAST CORP CL A SPL 20030N200 64,426 3,585,200 SH 3,585,200 CONSTELLATION BRANDS INC CL A 21036P108 723 43,976 SH 43,976 CONTINENTAL AIRLINES CL B 210795308 58,374 2,657,000 SH 2,657,000 CORRECTIONS CORP OF AMERICA COM 22025Y407 16,365 824,000 SH 824,000 COVIDIEN PLC SHS G2554F105 10,056 200,000 SH 200,000 CROCS INC COM 227046109 22,743 2,590,305 SH 2,590,305 DEAN FOODS CO COM 242370104 1,292 82,346 SH 82,346 DELTA AIR LINES INC COM 247361702 62,807 4,304,800 SH 4,304,800 DENBURY RESOURCES INC COM 247916208 33,345 1,976,600 SH 1,976,600 DIRECTV-CLASS A COM CL A 25490A101 16,095 476,038 SH 476,038 DISH NETWORK CORP-A CL A 25470M109 36,768 1,766,000 SH 1,766,000 DOMINO'S PIZZA INC COM 25754A201 2,001 146,705 SH 146,705 DOMTAR CORP NEW 257559203 42,075 653,237 SH 653,237 E*TRADE FINANCIAL CORP COM 269246104 77,217 46,727,100 SH 46,727,100

VOTING AUTHORITY VALUE SH/PRN SH/ PUT/ INVESTMENT OTHER ---------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X1000) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE --------------------------- -------------- --------- ------- ------ --- ---- ---------- -------- ---------- ------ ---- EASTMAN KODAK CO COM 277461109 24,123 4,166,249 SH 4,166,249 EBAY INC COM 278642103 82,015 3,041,262 SH 3,041,262 ECHOSTAR CORP CL A 278768106 10,710 528,100 SH 528,100 E-HOUSE CHINA HOLDINGS ADR 26852W103 1,751 92,000 SH 92,000 ENERGY XXI BERMUDA USD UNRS SHS G10082140 70,990 3,963,680 SH 3,963,680 EXELON CORP COM 30161N101 14,617 333,656 SH 333,656 EXXON MOBIL CORP COM 30231G102 19,424 290,000 SH 290,000 FORD MOTOR CO COM 345370860 75,862 6,035,200 SH 6,035,200 GAMESTOP CORP CL A 36467W109 1,369 62,474 SH 62,474 GENERAL GROWTH PROPERTIES COM 370021107 49,638 3,085,000 SH 3,085,000 GIVEN IMAGING LTD ORD SHS M52020100 66,814 2,829,910 SH 2,829,910 GOLDMAN SACHS GROUP INC COM 38141G104 4,573 26,800 SH 26,800 HOT TOPIC INC COM 441339108 1,820 279,570 SH 279,570 ICONIX BRAND GROUP INC COM 451055107 8,140 529,955 SH 529,955 INTERNATIONAL PAPER CO COM 460146103 33,962 1,380,000 SH 1,380,000 JPMORGAN CHASE & CO COM 46625H100 17,086 381,800 SH 381,800 KKR FINANCIAL HOLDINGS LLC COM 48248A306 110,717 13,485,567 SH 13,485,567 KOHLS CORP COM 500255104 24,613 449,300 SH 449,300 LINCOLN NATIONAL CORP COM 534187109 87,001 2,833,900 SH 2,833,900 LINN ENERGY LLC UNIT LTD LIAB 536020100 98,153 3,816,201 SH 3,816,201 LIONS GATE ENTERTAINMENT COR COM 535919203 942 150,985 SH 150,985 LORILLARD INC COM 544147101 48,868 649,490 SH 649,490 MCDONALD'S CORP COM 580135101 45,196 677,400 SH 677,400 MERCK & CO. INC. COM 58933Y105 102,168 2,735,415 SH 2,735,415 MGIC INVESTMENT CORP COM 552848103 67,359 6,140,300 SH 6,140,300 MICROSOFT CORP COM 594918104 99,220 3,387,800 SH 3,387,800 MOTOROLA INC COM 620076109 5,005 713,000 SH 713,000 MULTIMEDIA GAMES INC COM 625453105 1,827 468,458 SH 468,458 NOKIA CORP SPON ADR 654902204 4,429 285,000 SH 285,000 NORTHSTAR REALTY FINANCE COR COM 66704R100 8,292 1,969,651 SH 1,969,651 NUCOR CORP COM 670346105 7,942 175,000 SH 175,000 PACTIV CORPORATION COM 695257105 46,432 1,844,000 SH 1,844,000 PEPSICO INC COM 713448108 13,444 203,200 SH 203,200 PERFECT WORLD CO LTD SPON ADR 71372U104 3,018 80,600 SH 80,600 PLAINS EXPLORATION & PRODUCT COM 726505100 11,186 373,000 SH 373,000 PMI GROUP INC/THE COM 69344M101 21,929 4,046,000 SH 4,046,000 PROSHARES ULTRASHORT S&P500 ULSHT SP500 74347R883 3,099 100,000 SH 100,000 REGAL ENTERTAINMENT GROUP CL A 758766109 45,921 2,613,600 SH 2,613,600

VOTING AUTHORITY VALUE SH/PRN SH/ PUT/ INVESTMENT OTHER ---------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X1000) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE --------------------------- -------------- --------- ------- ------ --- ---- ---------- -------- ---------- ------ ---- RESOURCE AMERICA INC CL A 761195205 5,736 1,195,000 SH 1,195,000 RRI ENERGY INC COM 74971X107 3,690 1,000,000 SH 1,000,000 SELECT MEDICAL HOLDINGS CORP COM 81619Q105 19,566 2,318,300 SH 2,318,300 SLM CORP COM 78442P106 203,906 16,286,400 SH 16,286,400 SPDR BARCLAYS CAPITAL HIGH BRCLYS YLD ETF 78464A417 46,375 1,165,500 SH 1,165,500 SPDR S&P 500 ETF TRUST UNIT SER 1 S&P 78462F103 28,080 240,000 SH 240,000 STATE STREET CORP COM 857477103 34,649 767,600 SH 767,600 STEEL DYNAMICS INC COM 858119100 1,249 71,475 SH 71,475 SUNOCO INC COM 86764P109 44,916 1,511,800 SH 1,511,800 SUPERMEDIA INC COM 868447103 3,706 91,098 SH 91,098 TAIWAN SEMICONDUCTOR SPON ADR 874039100 2,623 250,000 SH 250,000 TAKE-TWO INTERACTIVE SOFTWRE COM 874054109 36 3,617 SH 3,617 TALBOTS INC COM 874161102 1,950 150,493 SH 150,493 TARGET CORP COM 87612E106 3,682 70,000 SH 70,000 TELLABS INC COM 879664100 21,667 2,862,200 SH 2,862,200 TEREX CORP COM 880779103 38,696 1,703,900 SH 1,703,900 TEVA PHARMACEUTICAL SPON ADR 881624209 101,992 1,616,864 SH 1,616,864 TOWER GROUP INC COM 891777104 21,819 984,163 SH 984,163 TRANSOCEAN LTD REG SHS H8817H100 187,813 2,174,264 SH 2,174,264 TRAVELERS COS INC/THE COM 89417E109 50,450 935,300 SH 935,300 UAL CORP COM 902549807 34,972 1,788,600 SH 1,788,600 UNITEDHEALTH GROUP INC COM 91324P102 56,754 1,737,176 SH 1,737,176 VALIDUS HOLDINGS LTD COM SHS G9319H102 43,927 1,595,600 SH 1,595,600 VODAFONE GROUP PLC SPON ADR 92857W209 25,678 1,101,600 SH 1,101,600 WELLPOINT INC COM 94973V107 117,397 1,823,507 SH 1,823,507 WELLS FARGO & CO COM 949746101 31,120 1,000,000 SH 1,000,000 WILLIAMS COS INC COM 969457100 78,291 3,389,208 SH 3,389,208 WINN-DIXIE STORES INC COM 974280307 562 44,959 SH 44,959 XL CAPITAL LTD CL A G98255105 81,792 4,327,637 SH 4,327,637 XTO ENERGY INC COM 98385X106 20,179 427,700 SH 427,700 YAHOO! INC COM 984332106 25,931 1,568,700 SH 1,568,700