13F-HR 1 omega13fhr020311.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, 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 February 10, 2011 ------------------ ------------------ ----------------- [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: 88 Form 13F Information Table Value Total: $ 4,035,742 (in thousands) List of Other Included Managers: NONE

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Shares or Title of Value Principal SH/ PUT/ Investment Other Voting Authority Name of Issuer Class Cusip (x$1,000) Amount PRN CALL Discretion Managers Sole Shared None -------------------------- -------- --------- --------- ---------- --- ---- ---------- -------- ---- ------ ---- 1-800-FLOWERS.COM INC CL A 68243Q106 681 253,029 SH SOLE 253,029 3M CO COM 88579Y101 98,822 1,145,100 SH SOLE 1,145,100 ABITIBIBOWATER INC/NEW COM 003687209 8,263 349,100 SH SOLE 349,100 ACE LTD SHS H0023R105 45,411 729,500 SH SOLE 729,500 AES CORP COM 00130H105 19,955 1,638,357 SH SOLE 1,638,357 ALTISOURCE PORTFOLIO SOLNS REG SHS L0175J104 56,206 1,957,700 SH SOLE 1,957,700 APPLE INC COM 037833100 13,806 42,800 SH SOLE 42,800 ATLAS ENERGY INC COM 049298102 303,925 6,912,090 SH SOLE 6,912,090 ATLAS PIPELINE PARTNERS LP UNIT LP INT 049392103 139,120 5,639,218 SH SOLE 5,639,218 BANK OF NEW YORK MELLON CORP COM 064058100 40,317 1,335,000 SH SOLE 1,335,000 BEST BUY CO INC COM 086516101 8,638 251,900 SH SOLE 251,900 BLACKSTONE GROUP LP/THE COM 09253U108 31,996 2,261,200 SH SOLE 2,261,200 BROADRIDGE FINANCIAL SOLUTIONS COM 11133T103 83,575 3,811,000 SH SOLE 3,811,000 CABLEVISION SYSTEMS CLA A NY 12686C109 63,163 1,866,517 SH SOLE 1,866,517 CASUAL MALE RETAIL GROUP INC COM 148711302 1,996 421,113 SH SOLE 421,113 CENTER BANCORP INC COM 151408101 4,420 545,000 SH SOLE 545,000 CENTRAL EURO DISTRIBUTION CP COM 153435102 3,321 145,000 SH SOLE 145,000 CHARMING SHOPPES COM 161133103 27,408 7,720,547 SH SOLE 7,720,547 CHINA YUCHAI INTL LTD COM G21082105 17,227 543,600 SH SOLE 543,600 CITIGROUP INC COM 172967101 37,551 7,939,000 SH SOLE 7,939,000 DEAN FOODS CO COM 242370104 4,445 502,881 SH SOLE 502,881 DENBURY RESOURCES INC COM 247916208 58,541 3,066,600 SH SOLE 3,066,600 DIRECTV COM CL A 25490A101 18,210 456,038 SH SOLE 456,038 DISH NETWORK CORP CL A 25470M109 47,292 2,405,500 SH SOLE 2,405,500 DOMTAR CORP COM 257559203 59,240 780,300 SH SOLE 780,300 E*TRADE FINANCIAL CORP COM 269246401 84,213 5,263,310 SH SOLE 5,263,310 ENCANA CORP COM 292505104 27,810 955,000 SH SOLE 955,000 ENERGY XXI BERMUDA USD UNRS SHS G10082140 112,406 4,062,380 SH SOLE 4,062,380 EXXON MOBIL CORP COM 30231G102 1,060 14,500 SH SOLE 14,500 FORD MOTOR CO COM 345370860 101,062 6,019,200 SH SOLE 6,019,200 GAMESTOP CORP CL A 36467W109 2,139 93,475 SH SOLE 93,475 GENERAL GROWTH PROPERTIES COM 370023103 3,029 195,700 SH SOLE 195,700 GENERAL MOTORS CO COM 37045V100 92,036 2,496,900 SH SOLE 2,496,900 GENON ENERGY INC COM 37244E107 21,762 5,711,700 SH SOLE 5,711,700 GIVEN IMAGING LTD ORD SHS M52020100 42,903 2,930,556 SH SOLE 2,930,556 GOLDMAN SACHS GROUP INC COM 38141G104 21,995 130,800 SH SOLE 130,800 HEWLETT-PACKARD CO COM 428236103 24,923 592,000 SH SOLE 592,000 HOT TOPIC INC COM 441339108 1,135 180,967 SH SOLE 180,967 HOWARD HUGHES CORP/THE COM 44267D107 1,944 35,721 SH SOLE 35,721 ICONIX BRAND GROUP INC COM 451055107 1,813 93,899 SH SOLE 93,899 INTL BUSINESS MACHINES CORP COM 459200101 19,739 134,500 SH SOLE 134,500 JABIL CIRCUIT INC COM 466313103 20,592 1,025,000 SH SOLE 1,025,000 JAKKS PACIFIC INC COM 47012E106 574 31,482 SH SOLE 31,482 JPMORGAN CHASE & CO COM 46625H100 68,928 1,624,900 SH SOLE 1,624,900 KKR & CO LP COM UNITS 48248M102 47,195 3,323,587 SH SOLE 3,323,587 KKR FINANCIAL HOLDINGS LLC COM 48248A306 143,507 15,430,867 SH SOLE 15,430,867 KOHLS CORP COM 500255104 33,979 625,300 SH SOLE 625,300

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Shares or Title of Value Principal SH/ PUT/ Investment Other Voting Authority Name of Issuer Class Cusip (x$1,000) Amount PRN CALL Discretion Managers Sole Shared None -------------------------- -------- --------- --------- ---------- --- ---- ---------- -------- ---- ------ ---- KROGER CO COM 501044101 1,116 49,892 SH SOLE 49,892 LIBERTY MEDIA CORP INT COM SER A 53071M302 12,512 200,000 SH SOLE 200,000 LINCOLN NATIONAL CORP COM 534187109 55,995 2,013,500 SH SOLE 2,013,500 LINN ENERGY LLC-UNITS UNIT LTD LIAB 536020100 133,802 3,569,000 SH SOLE 3,569,000 LORILLARD INC COM 544147101 45,493 554,390 SH SOLE 554,390 MAGELLAN HEALTH SERVICES INC COM 559079207 40,008 846,200 SH SOLE 846,200 METLIFE INC COM 59156R108 8,888 200,000 SH SOLE 200,000 MGIC INVESTMENT CORP COM 552848103 90,971 8,927,500 SH SOLE 8,927,500 MICROSOFT CORP COM 594918104 95,121 3,406,900 SH SOLE 3,406,900 MULTIMEDIA GAMES INC COM 625453105 2,227 399,074 SH SOLE 399,074 OMNICARE INC COM 681904108 77,897 3,068,000 SH SOLE 3,068,000 OSHKOSH CORP COM 688239201 35,409 1,004,800 SH SOLE 1,004,800 PHH CORP COM 693320202 43,395 1,874,500 SH SOLE 1,874,500 PLAINS EXPLORATION & PRODUCT COM 726505100 104,670 3,256,700 SH SOLE 3,256,700 PMI GROUP INC/THE COM 69344M101 26,154 7,925,600 SH SOLE 7,925,600 RADIAN GROUP INC COM 750236101 6,182 766,036 SH SOLE 766,036 RALCORP HOLDINGS INC COM 751028101 1,254 19,289 SH SOLE 19,289 REAL GOODS SOLAR INC CL A 75601N104 25 10,194 SH SOLE 10,194 REGAL ENTERTAINMENT GROUP CL A 758766109 30,130 2,566,400 SH SOLE 2,566,400 RESOURCE AMERICA INC CL A 761195205 3,807 555,800 SH SOLE 555,800 SAFEWAY INC COM 786514208 748 33,262 SH SOLE 33,262 SELECT MEDICAL HOLDINGS CORP COM 81619Q105 12,948 1,771,300 SH SOLE 1,771,300 SIRIUS XM RADIO INC COM 82967N108 29,221 17,817,500 SH SOLE 17,817,500 SLM CORP COM 78442P106 223,544 17,755,700 SH SOLE 17,755,700 SPDR GOLD TRUST GOLD SHS 78463V107 85,576 616,900 SH SOLE 616,900 SUPERVALU INC COM 868536103 771 80,024 SH SOLE 80,024 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 111,489 2,138,664 SH SOLE 2,138,664 THL CREDIT INC COM 872438106 14,743 1,133,200 SH SOLE 1,133,200 TIME WARNER INC COM 887317303 54,239 1,686,000 SH SOLE 1,686,000 TRANSOCEAN LTD REG SHS H8817H100 58,124 836,200 SH SOLE 836,200 TRAVELERS COS INC/THE COM 89417E109 23,621 424,000 SH SOLE 424,000 UNITED CONTINENTAL HOLDINGS COM 910047109 99,451 4,175,124 SH SOLE 4,175,124 UNITEDHEALTH GROUP INC COM 91324P102 38,167 1,056,976 SH SOLE 1,056,976 VALIDUS HOLDINGS LTD COM G9319H102 26,999 882,026 SH SOLE 882,026 VODAFONE GROUP PLC SPONS ADR 92857W209 28,090 1,062,800 SH SOLE 1,062,800 WAL-MART STORES INC COM 931142103 50,694 940,000 SH SOLE 940,000 WELLPOINT INC COM 94973V107 85,376 1,501,507 SH SOLE 1,501,507 WET SEAL INC/THE CL A 961840105 2,792 754,473 SH SOLE 754,473 WILLIAMS COS INC COM 969457100 67,028 2,711,508 SH SOLE 2,711,508 XL GROUP PLC SHS G98290102 99,103 4,541,837 SH SOLE 4,541,837 YAHOO! INC COM 984332106 39,689 2,386,600 SH SOLE 2,386,600 4,035,742