13F-HR 1 omega13fhr050911.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, 2011 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 G. Cooperman New York, New York May 9, 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: 76 Form 13F Information Table Value Total: $ 4,208,907 (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 684 207,300 SH SOLE 207,300 3M CO COM 88579Y101 108,432 1,159,700 SH SOLE 1,159,700 ABITIBIBOWATER INC COM 003687209 8,271 307,800 SH SOLE 307,800 ACE LTD SHS H0023R105 47,762 738,200 SH SOLE 738,200 ALTISOURCE PORTFOLIO SOLNS REG SHS L0175J104 61,133 1,992,600 SH SOLE 1,992,600 AON CORP COM 037389103 29,234 552,000 SH SOLE 552,000 APPLE INC COM 037833100 28,015 80,400 SH SOLE 80,400 ATLAS ENERGY LP COM UNITS 04930A104 85,244 3,815,748 SH SOLE 3,815,748 ATLAS PIPELINE PARTNERS LP UNIT LP INT 049392103 194,553 5,639,218 SH SOLE 5,639,218 BANK OF AMERICA CORPORATION COM 060505104 33,818 2,537,000 SH SOLE 2,537,000 BEBE STORES INC COM 075571109 651 111,265 SH SOLE 111,265 BLACKSTONE GROUP LP/THE COM UNITS 09253U108 40,430 2,261,200 SH SOLE 2,261,200 BP PLC-SPONS ADR SPR ADR 055622104 12,478 282,700 SH SOLE 282,700 BROADRIDGE FINANCIAL SOLUTIONS COM 11133T103 87,332 3,848,900 SH SOLE 3,848,900 CABLEVISION SYSTEMS-NY GRP CL A 12686C109 74,637 2,156,517 SH SOLE 2,156,517 CASUAL MALE RETAIL GROUP INC COM 148711302 786 160,049 SH SOLE 160,049 CENTER BANCORP INC COM 151408101 5,227 545,000 SH SOLE 545,000 CHARMING SHOPPES COM 161133103 37,976 8,914,574 SH SOLE 8,914,574 CHINA YUCHAI INTL LTD COM G21082105 16,240 553,700 SH SOLE 553,700 CITIGROUP INC COM 172967101 35,090 7,939,000 SH SOLE 7,939,000 CITRIX SYSTEMS INC COM 177376100 56,807 773,300 SH SOLE 773,300 CVS CAREMARK CORP COM 126650100 73,033 2,128,000 SH SOLE 2,128,000 DENBURY RESOURCES INC COM 247916208 75,096 3,077,700 SH SOLE 3,077,700 DISCOVERY COMMUNICATIONS COM SER C 25470F302 94,775 2,691,700 SH SOLE 2,691,700 DISH NETWORK CORP CL A 25470M109 58,598 2,405,500 SH SOLE 2,405,500 DOMTAR CORP COM 257559203 53,361 581,400 SH SOLE 581,400 E*TRADE FINANCIAL CORP COM 269246401 103,726 6,636,310 SH SOLE 6,636,310 ENCANA CORP COM 292505104 33,494 970,000 SH SOLE 970,000 ENERGY XXI BERMUDA USD UNR SHS G10082140 138,950 4,074,780 SH SOLE 4,074,780 FORD MOTOR CO COM 345370860 70,881 4,753,900 SH SOLE 4,753,900 GAMESTOP CORP CL A 36467W109 2,090 92,807 SH SOLE 92,807 GENERAL MOTORS CO COM 37045V100 98,793 3,183,800 SH SOLE 3,183,800 GENON ENERGY INC COM 37244E107 56,424 14,809,400 SH SOLE 14,809,400 GIVEN IMAGING LTD ORD SHS M52020950 57,761 2,930,556 SH SOLE 2,930,556 GOODYEAR TIRE & RUBBER CO COM 382550101 15,891 1,060,800 SH SOLE 1,060,800 GOOGLE INC CL A 38259P508 352 600 SH SOLE 600 HEWLETT-PACKARD CO COM 428236103 24,254 592,000 SH SOLE 592,000 HOT TOPIC INC COM 441339108 1,215 213,090 SH SOLE 213,090 INTL BUSINESS MACHINES CORP COM 459200101 21,933 134,500 SH SOLE 134,500 INTL GAME TECHNOLOGY COM 459902102 25,416 1,566,000 SH SOLE 1,566,000 JABIL CIRCUIT INC COM 466313103 56,366 2,759,000 SH SOLE 2,759,000

------------------------------------------------------------------------------------------------------------------------------------ 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 ------------------------------------------------------------------------------------------------------------------------------------ JPMORGAN CHASE & CO COM 46625H100 79,481 1,724,100 SH SOLE 1,724,100 KKR & CO LP COM UNITS 48248M102 54,540 3,323,587 SH SOLE 3,323,587 KKR FINANCIAL HOLDINGS LLC COM 48248A306 151,068 15,430,867 SH SOLE 15,430,867 LINCOLN NATIONAL CORP COM 534187109 60,486 2,013,500 SH SOLE 2,013,500 LINN ENERGY LLC UNIT LTD 536020100 158,406 4,069,000 SH SOLE 4,069,000 LOWE'S COS INC COM 548661107 30,545 1,155,700 SH SOLE 1,155,700 METLIFE INC COM 59156R108 47,239 1,056,100 SH SOLE 1,056,100 MGIC INVESTMENT CORP COM 552848103 80,732 9,081,200 SH SOLE 9,081,200 MICROSOFT CORP COM 594918104 91,387 3,603,600 SH SOLE 3,603,600 OFFICE DEPOT INC COM 676220106 618 133,501 SH SOLE 133,501 PMI GROUP INC/THE COM 69344M101 16,050 5,944,600 SH SOLE 5,944,600 PNC FINANCIAL SERVICES GROUP COM 693475105 12,522 198,800 SH SOLE 198,800 QUALCOMM INC COM 747525103 20,024 365,200 SH SOLE 365,200 RADIAN GROUP INC COM 750236101 21,853 3,209,000 SH SOLE 3,209,000 RALCORP HOLDINGS INC COM 751028101 1,311 19,151 SH SOLE 19,151 REGAL ENTERTAINMENT GROUP CL A 758766109 34,174 2,531,400 SH SOLE 2,531,400 SALESFORCE.COM INC COM 79466L302 9,351 70,000 SH SOLE 70,000 SLM CORP COM 78442P106 274,435 17,936,900 SH SOLE 17,936,900 SPDR GOLD TRUST GOLD SHS 78463V107 87,374 624,900 SH SOLE 624,900 SUNOCO INC COM 86764P109 64,970 1,425,100 SH SOLE 1,425,100 TEVA PHARMACEUTICAL-SP ADR ADR 881624209 113,277 2,257,864 SH SOLE 2,257,864 THL CREDIT INC COM 872438106 18,080 1,322,607 SH SOLE 1,322,607 TIME WARNER INC COM 887317303 61,047 1,710,000 SH SOLE 1,710,000 TRANSOCEAN LTD REG SHS H8817H100 60,614 777,600 SH SOLE 777,600 TRAVELERS COS INC/THE COM 89417E109 5,139 86,400 SH SOLE 86,400 UNITED CONTINENTAL HOLDINGS COM 910047109 95,986 4,175,124 SH SOLE 4,175,124 UNITEDHEALTH GROUP INC COM 91324P102 47,775 1,056,976 SH SOLE 1,056,976 VALASSIS COMMUNICATIONS INC COM 918866104 16,292 559,100 SH SOLE 559,100 VERIZON COMMUNICATIONS INC COM 92343V104 77,805 2,018,800 SH SOLE 2,018,800 VODAFONE GROUP PLC-SP ADR SPR ADR 92857W209 35,558 1,236,800 SH SOLE 1,236,800 WAL-MART STORES INC COM 931142103 49,463 950,300 SH SOLE 950,300 WELLPOINT INC COM 94973V107 104,790 1,501,507 SH SOLE 1,501,507 WENDY'S/ARBY'S GROUP INC COM 950587105 1,938 385,225 SH SOLE 385,225 WILLIAMS COS INC COM 969457100 85,639 2,746,608 SH SOLE 2,746,608 XL GROUP PLC SHS G98290102 111,729 4,541,837 SH SOLE 4,541,837 4,208,907