13F-HR 1 form13fhr.txt OMEGA ADVISORS, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2006 ---------------------------- Check here if Amendment [ ]; Amendment Number: ----- This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Omega Advisors, Inc. -------------------------------------------------- Address: Wall Street Plaza -------------------------------------------------- 88 Pine Street -------------------------------------------------- New York, New York 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 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 08/14/06 ------------------------ ------------------------------ ---------- Report Type (Check only one.): [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ------------- Form 13F Information Table Entry Total: 165 ------------- Form 13F Information Table Value Total: $3,713,866 ------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------- ---------------- --------- --------- --------- --- ---- ---------- -------- ------------------------ VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------- ---------------- --------- --------- --------- --- ---- ---------- -------- --------- ------ ------- Abercrombie & Fitch Co Cl A 002896207 6,928 125,000 SOLE 125,000 0 0 Affordable Residential Cmtys Com 008273104 6,046 562,500 SOLE 562,500 0 0 Alliance Data Systems Corp Com 018581108 6.396 624 SH CALL SOLE 624 0 0 Alliance Data Systems Corp Com 018581108 3,670 62,400 SOLE 62,400 0 0 American Intl Group Inc Com 026874107 5.625 4,500 SH CALL SOLE 4,500 0 0 American Intl Group Com 026874107 26,572 450,000 SOLE 450,000 0 0 American Tower Corp Cl A 029912201 53,152 1,708,000 SOLE 1,708,000 0 0 Atlas America Inc Com 049167109 55,473 1,237,978 SOLE 1,237,978 0 0 Autoliv Inc Com 052800109 7.788 2,360 SH CALL SOLE 2,360 0 0 Autoliv Inc Com 052800109 3.293 1,550 SH CALL SOLE 1,550 0 0 Autoliv Inc Com 052800109 132,667 2,345,200 SOLE 2,345,200 0 0 Bank of America Corp Com 060505104 95,680 1,989,202 SOLE 1,989,202 0 0 Bed Bath & Beyond Inc Com 075896100 3.875 2,500 SH CALL SOLE 2,500 0 0 Bed Bath & Beyond Inc Com 075896100 40,165 1,210,900 SOLE 1,210,900 0 0 CBS Corp Com 124857202 18.843 6,281 SH CALL SOLE 6,281 0 0 CBS Corp Com 124857202 2.476 1,708 SH CALL SOLE 1,708 0 0 CBS Corp Cl B 124857202 30,604 1,131,400 SOLE 1,131,400 0 0 Canadian Natural Resources Com 136385101 21,708 392,000 SOLE 392,000 0 0 Caremark Rx Inc. Com 141705103 0.650 500 SH CALL SOLE 500 0 0 Caremark RX Inc Com 141705103 2,493 50,000 SOLE 50,000 0 0 Cendant Corp Com 151313103 1,710 105,015 SOLE 105,015 0 0 Citigroup Inc Com 172967101 76,968 1,595,533 SOLE 1,595,533 0 0 CIA Vale Do Rio Doce Sponsor ADR 204412100 47,161 2,291,600 SOLE 2,291,600 0 0 Corning Inc Com 219350105 6,047 250,000 SOLE 250,000 0 0 DST Systems Inc Com 233326107 18,349 308,400 SOLE 308,400 0 0 Deere & Co Com 244199105 3.425 500 SH CALL SOLE 500 0 0 Deere & Co Com 244199105 1.231 1,539 SH CALL SOLE 1,539 0 0 Deere & Co Com 244199105 84,767 1,015,300 SOLE 1,015,300 0 0 Dollar General Corp Com 256669102 36,487 2,610,000 SOLE 2,610,000 0 0 Dow Chemical Com 260543103 16,572 424,600 SOLE 424,600 0 0 E*Trade Financial Corp Com 269246104 0.064 321 SH CALL SOLE 321 0 0 E*Trade Financial Corp Com 269246104 732 32,100 SOLE 32,100 0 0 Echostar Communications Cl A 278762109 97,430 3,162,300 SOLE 3,162,300 0 0 Electronic Data Systems Corp Com 285661104 36,835 1,531,000 SOLE 1,531,000 0 0 Encana Corp Com 292505104 13,949 265,000 SOLE 265,000 0 0 Fred's Inc Cl A 356108100 8,010 600,000 SOLE 600,000 0 0 Genesco Inc Com 371532102 6,774 200,000 SOLE 200,000 0 0 Halliburton Co Com 406216101 60,792 819,200 SOLE 819,200 0 0 HAL (Halliburton) Com 406216101 9.180 2,550 Put SOLE 2,550 0 0 HJ Heinz Co Com 423074103 16,900 410,000 SOLE 410,000 0 0 Hercules Inc Com 427056106 28,850 1,890,600 SOLE 1,890,600 0 0 Hilton Hotels Inc Com 432848109 1.870 550 SH CALL SOLE 550 0 0 Hilton Hotels Inc Com 432848109 8.925 1,500 SH CALL SOLE 1,500 0 0 Hilton Hotels Inc Com 432848109 7.980 1,900 SH CALL SOLE 1,900 Hilton Hotels Corp Com 432848109 34,900 1,234,100 SOLE 1,234,100 0 0 Home Depot Inc Com 437076102 63,026 1,761,000 SOLE 1,761,000 0 0 Kerr-McGee Corp Com 492386107 160,745 2,317,894 SOLE 2,317,894 0 0 KMG (Kerr-McGee Corp) Com 492386107 0.290 5,804 Put SOLE 5,804 0 0 KMG (Kerr-McGee Corp) Com 492386107 0.050 1,000 Put SOLE 1,000 0 0 KMG (Kerr-McGee Corp) Com 492386107 0.198 3,976 Put SOLE 3,976 0 0 Kindred Healthcare Inc Com 494580103 52,917 2,035,300 SOLE 2,035,300 0 0 Kohl's Corp Com 500255104 13.864 3,014 SH CALL SOLE 3,014 0 0 Kohls Corp Com 500255104 17,818 301,400 SOLE 301,400 0 0 Legg Mason Inc Com 524901105 9,952 100,000 SOLE 100,000 0 0 LM (Legg Mason) Com 524901105 0.213 150 Put SOLE 150 0 0 LM (Legg Mason) Com 524901105 2.754 810 Put SOLE 810 0 0 Loews Corp - Carolina Group Com 540424207 20,291 395,000 SOLE 395,000 0 0 Marinemax Inc Com 567908108 2,623 100,000 SOLE 100,000 0 0 National Oilwell Varco Inc Com 637071101 6,332 100,000 SOLE 100,000 0 0 Nokia Corp-Spon Sponsored ADR 654902204 69,597 3,435,200 SOLE 3,435,200 0 0 Omnicare Inc Com 681904108 11.846 2,999 SH CALL SOLE 2,999 0 0 Omnicare Inc Com 681904108 8.914 3,074 SH CALL SOLE 3,074 0 0 Omnicare Inc Com 681904108 47,595 1,003,700 SOLE 1,003,700 0 0 JC Penny Corp, Inc Com 708160106 6.881 1,564 SH CALL SOLE 1,564 0 0 JC Penny Corp, Inc Com 708160106 1.891 305 SH CALL SOLE 305 J.C. Penney Co Inc Com 708160106 12,617 186,900 SOLE 186,900 0 0 Phelps Dodge Corp Com 717265102 4.900 500 SH CALL SOLE 500 0 0 Phelps Dodge Corp Com 717265102 1.300 200 SH CALL SOLE 200 0 0 Phelps Dodge Corp Com 717265102 16,021 195,000 SOLE 195,000 0 0 Rait Investment Trust Com 749227104 4,485 153,600 SOLE 153,600 0 0 Readers Digest Association Com 755267101 44,631 3,197,100 SOLE 3,197,100 0 0 Resource America Inc Cl A 761195205 19,695 1,033,900 SOLE 1,033,900 0 0 Ross Stores Inc Com 778296103 0.049 30 SH CALL SOLE 30 0 0 Ross Stores Inc Com 778296103 785 28,000 SOLE 28,000 0 0 Service Corp International Com 817565104 64,913 7,974,600 SOLE 7,974,600 0 0 Spirit Finance Corp Com 848568309 33,947 3,014,900 SOLE 3,014,900 0 0 TXU Corp Com 873168108 9.416 2,545 SH CALL SOLE 2,545 0 0 TXU Corp Com 873168108 2.080 400 SH CALL SOLE 400 0 0 TXU Corp Com 873168108 8.074 1,835 SH CALL SOLE 1,835 0 0 TXU Corp Com 873168108 16.030 2,717 SH CALL SOLE 2,717 0 0 TXU Corp Com 873168108 3.300 1,000 SH CALL SOLE 1,000 0 0 TXU Corp Com 873168108 18.750 2,500 SH CALL SOLE 2,500 0 0 TXU Corp Com 873168108 65,751 1,099,700 SOLE 1,099,700 0 0 Tal International Group Inc Com 874083108 6,391 265,200 SOLE 265,200 0 0 Time Warner Inc. Com 887317105 1.750 3,500 SH CALL SOLE 3,500 0 0 Time Warner Inc Com 887317105 59,299 3,427,700 SOLE 3,427,700 0 0 TWX (Time Warner) Com 887317105 0.525 3,500 Put SOLE 3,500 0 0 Tower Group Inc Com 891777104 13,131 434,100 SOLE 434,100 0 0 Tyco International Ltd Com 902124106 152,140 5,532,391 SOLE 5,532,391 0 0 United States Steel Corp New Com 912909108 9,115 130,000 SOLE 130,000 0 0 Wal-Mart Stores Inc Com 931142103 42,389 880,000 SOLE 880,000 0 0 Williams Cos Inc Com 969457100 82,126 3,515,700 SOLE 3,515,700 0 0 WMB (Williams Companies Inc) Com 969457100 0.195 978 Put SOLE 978 0 0 WMB (Williams Companies Inc) Com 969457100 8.393 10,492 Put SOLE 10,492 0 0 WMB (Williams Companies Inc) Com 969457100 0.162 250 Put SOLE 250 0 0 WMB (Williams Companies Inc) Com 969457100 1.068 750 Put SOLE 750 0 0 Petro-Canada Com 71644E102 25,026 526,700 SOLE 526,700 0 0 Talisman Energy Inc Com 87425E103 2,663 152,400 SOLE 152,400 0 0 News Corp Cl A 65248E104 95,138 4,960,300 SOLE 4,960,300 0 0 Target Corp Com 87612E106 3,665 75,000 SOLE 75,000 0 0 Total SA Sponsored ADR 89151E109 50,974 778,000 SOLE 778,000 0 0 AES Corp Com 00130H105 0.567 420 SH CALL SOLE 420 0 0 AES Corp Com 00130H105 774 42,000 SOLE 42,000 0 0 Advanced Medical Optics Inc Com 00763M108 12.735 1,721 SH CALL SOLE 1,721 0 0 Advanced Medical Optics Inc Com 00763M108 26.270 6,736 SH CALL SOLE 6,736 0 0 Advanced Medical Optics Com 00763M108 43,018 848,500 SOLE 848,500 0 0 Agere Systems Com 00845V308 75,468 5,133,900 SOLE 5,133,900 0 0 Altria Group Inc Com 02209S103 36,715 500,000 SOLE 500,000 0 0 Ameristar Casinos Inc Com 03070Q101 2,917 150,000 SOLE 150,000 0 0 BJ's Wholesale Club Inc Com 05548J106 8,505 300,000 SOLE 300,000 0 0 CNX Gas Corp Com 12618H309 11,694 389,800 SOLE 389,800 0 0 Cameco Corp Com 13321L108 0.664 324 SH CALL SOLE 324 0 0 Cameco Corp Com 13321L108 53,575 1,340,400 SOLE 1,340,400 0 0 Cardinal Health Inc Com 14149Y108 5.049 2,172 SH CALL SOLE 2,172 0 0 Cardinal Health Inc Com 14149Y108 14,017 217,900 SOLE 217,900 0 0 Comcast Corp Cl A Spl 20030N200 88,515 2,700,300 SOLE 2,700,300 0 0 Consol Energy Inc Com 20854P109 34.153 2,870 SH CALL SOLE 2,870 0 0 Consol Energy Inc Com 20854P109 21.024 2,920 SH CALL SOLE 2,920 0 0 Consol Energy Inc Com 20854P109 30.418 3,236 SH CALL SOLE 3,236 Consol Energy Inc Com 20854P109 25.682 1,796 SH CALL SOLE 1,796 Consol Energy Inc Com 20854P109 50,560 1,082,200 SOLE 1,082,200 0 0 DaVita Inc Com 23918K108 0.129 369 SH CALL SOLE 369 0 0 DaVita Inc Com 23918K108 30,570 615,100 SOLE 615,100 0 0 Exelon Corp Com 30161N101 23,925 421,000 SOLE 421,000 0 0 Federated Dept Stores Com 31410H101 47,012 1,284,500 SOLE 1,284,500 0 0 Foot Locker Inc Com 344849104 38,449 1,570,000 SOLE 1,570,000 0 0 Grace WR & Co Com 38388F108 0.213 142 SH CALL SOLE 142 0 0 Grace WR & Co Com 38388F108 166 14,200 SOLE 14,200 0 0 Janus Capital Group, Inc Com 47102X105 0.038 382 SH CALL SOLE 382 0 0 Janus Capital Group Inc Com 47102X105 1,578 88,200 SOLE 88,200 0 0 Mirant Corp Com 60467R100 150,939 5,632,064 SOLE 5,632,064 0 0 MIR (Mirant Corp) Com 60467R100 0.947 1,458 Put SOLE 1,458 0 0 MIR (Mirant Corp) Com 60467R100 0.450 2,250 Put SOLE 2,250 0 0 NTL Inc Com 62941W101 50,591 2,031,800 SOLE 2,031,800 0 0 Nexen Inc Com 65334H102 13,366 236,400 SOLE 236,400 0 0 Northstar Realty Finance Corp Com 66704R100 4,790 398,900 SOLE 398,900 0 0 Radio One Inc Cl D 75040P405 10,730 1,450,000 SOLE 1,450,000 0 0 Resource Capital Corp Com 76120W302 28,071 2,181,167 SOLE 2,181,167 0 0 Retail Ventures Inc Com 76128Y102 858 48,200 SOLE 48,200 0 0 Scientific Games Corp Com 80874P109 4.471 4,586 SH CALL SOLE 4,586 0 0 Scientific Games Corp Cl A 80874P109 48,981 1,375,100 SOLE 1,375,100 0 0 Shire Plc Sponsored ADR 82481R106 41,775 944,500 SOLE 944,500 0 0 3M Co Com 88579Y101 47,880 592,800 SOLE 592,800 0 0 MMM (3M) Com 88579Y101 2.443 850 Put SOLE 850 0 0 21st Century Holding Co Com 90136Q100 4,240 324,200 SOLE 324,200 0 0 UnitedHealth Group Inc Com 91324P102 51,488 1,149,800 SOLE 1,149,800 0 0 UNH (UnitedHealth) Com 91324P102 1.232 1,450 Put SOLE 1,450 0 0 UNH (UnitedHealth) Com 91324P102 9.653 3,940 Put SOLE 3,940 0 0 Viacom Inc CL B Cl B 92553P201 11.210 3,800 SH CALL SOLE 3,800 0 0 Viacom Inc CL B Cl B 92553P201 1.378 2,120 SH CALL SOLE 2,120 0 0 Viacom Inc Cl B 92553P201 36,779 1,026,200 SOLE 1,026,200 0 0 WellPoint Inc Com 94973V107 6.480 1,800 SH CALL SOLE 1,800 0 0 WellPoint Inc Com 94973V107 4.528 1,575 SH CALL SOLE 1,575 0 0 WellPoint Inc Com 94973V107 2.965 2,372 SH CALL SOLE 2,372 0 0 WellPoint Inc Com 94973V107 0.283 945 SH CALL SOLE 945 0 0 WellPoint Inc Com 94973V107 0.029 199 SH CALL SOLE 199 0 0 Wellpoint Inc Com 94973V107 123,345 1,695,000 SOLE 1,695,000 0 0 Deutsche Bank AG Namen Com D18190898 1.85 1,000 SH CALL SOLE 1,000 0 0 Deutsche Bank AG - Registered Com D18190898 53,910 479,200 SOLE 479,200 0 0 Amdocs Ltd Com G02602103 9,150 250,000 SOLE 250,000 0 0 Accenture Ltd Cl A G1150G111 20,673 730,000 SOLE 730,000 0 0 Transocean Inc Com G90078109 158,069 1,968,000 SOLE 1,968,000 0 0 Weatherford International Lt Com G95089101 0.644 104 SH CALL SOLE 104 0 0 Weatherford Intl Ltd Com G95089101 516 10,400 SOLE 10,400 0 0 Given Imaging Ltd Com M52020100 5,658 369,600 SOLE 369,600 0 0