13F-HR 1 omega13fhr111110.txt FORM 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Report for the Calendar Year or Quarter Ended: September 30, 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 November 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: $ 3,571,228 (in thousands) List of Other Included Managers: NONE

NAME OF ISSUER TITLE VALUE SH/PRN SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY OF CLASS CUSIP (X1000) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- -------------- --------- ------- -------- --- ---- ---------- -------- ---- ------ ---- 1-800-FLOWERS.COM INC CL A 68243Q106 469 248,360 SH Sole 248,360 3M CO COM 88579Y101 70,244 810,100 SH Sole 810,100 ACE LTD SHS H0023R105 42,493 729,500 SH Sole 729,500 ADC TELECOMMUNICATIONS INC COM NEW 000886309 12,837 1,013,200 SH Sole 1,013,200 AES CORP COM 00130H105 21,202 1,868,057 SH Sole 1,868,057 ALTISOURCE PORTFOLIO SOL REG SHS L0175J104 15,125 485,700 SH Sole 485,700 APOLLO INVESTMENT CORP COM 03761U106 32,918 3,217,800 SH Sole 3,217,800 APPLE INC COM 037833100 10,357 36,500 SH Sole 36,500 ATLAS ENERGY INC COM 049298102 197,808 6,906,691 SH Sole 6,906,691 ATLAS PIPELINE PARTNERS LP UNIT LP INT 49392103 98,912 5,639,218 SH Sole 5,639,218 AXIS CAPITAL HOLDINGS LTD SHS G0692U109 9,485 287,960 SH Sole 287,960 BANK OF NEW YORK MELLON CORP COM 064058100 34,884 1,335,000 SH Sole 1,335,000 BEST BUY INC COM 086516101 10,285 251,900 SH Sole 251,900 BROADRIDGE FINANCIAL SOLUTIO COM 11133T103 87,158 3,811,000 SH Sole 3,811,000 CABLEVISION SYSTEMS CL A NY 12686C109 46,265 1,766,517 SH Sole 1,766,517 CARNIVAL CORP PAIRED CTF 143658300 19,146 501,400 SH Sole 501,400 CASUAL MALE RETAIL GROUP INC COM NEW 148711302 2,811 688,969 SH Sole 688,969 CENTER BANCORP INC COM 151408101 4,191 545,000 SH Sole 545,000 CHARMING SHOPPES COM 161133103 2,818 800,563 SH Sole 800,563 CHINA YUCHAI INTL LTD COM G21082105 12,710 664,409 SH Sole 664,409 CISCO SYSTEMS INC COM 17275R102 31,819 1,452,900 SH Sole 1,452,900 CITIGROUP INC COM 172967101 3,969 1,015,000 SH Sole 1,015,000 CONSTELLATION BRANDS INC CL A 21036P108 371 20,952 SH Sole 20,952 DEAN FOODS CO COM 242370104 3,319 325,030 SH Sole 325,030 DENBURY RESOURCES INC COM NEW 247916208 48,070 3,025,200 SH Sole 3,025,200 DIRECTV-CLASS A COM CL A 25490A101 18,985 456,038 SH Sole 456,038 DISH NETWORK CORP CL A 25470M109 38,430 2,000,500 SH Sole 2,000,500 DOMINO'S PIZZA INC COM 25754A201 2,382 180,207 SH Sole 180,207 DOMTAR CORP COM NEW 257559203 51,360 795,300 SH Sole 795,300 E*TRADE FINANCIAL CORP COM NEW 269246401 76,686 5,263,310 SH Sole 5,263,310 ENERGY XXI BERMUDA USD UNRS SHS G10082140 93,882 4,062,380 SH Sole 4,062,380 EXXON MOBIL CORP COM 30231G102 29,219 472,876 SH Sole 472,876 FORD MOTOR CO COM 345370860 73,675 6,019,200 SH Sole 6,019,200 GAMESTOP CORP CL A 36467W109 2 93 SH Sole 93 GENERAL GROWTH PROPERTIES COM 370021107 38,568 2,472,300 SH Sole 2,472,300 GIVEN IMAGING LTD ORD SHS M52020100 51,850 2,880,556 SH Sole 2,880,556

NAME OF ISSUER TITLE VALUE SH/PRN SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY OF CLASS CUSIP (X1000) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- -------------- --------- -------- -------- --- ---- ---------- -------- ---- ------ ---- GOLDMAN SACHS GROUP INC COM 38141G104 18,911 130,800 SH Sole 130,800 HOT TOPIC INC COM 441339108 1,755 292,994 SH Sole 292,994 ICONIX BRAND GROUP INC COM 451055107 3,622 206,960 SH Sole 206,960 INTERNATIONAL PAPER CO COM 460146103 24,976 1,148,300 SH Sole 1,148,300 INTL BUSINESS MACHINES CORP COM 459200101 16,754 124,900 SH Sole 124,900 JAKKS PACIFIC INC COM 47012E106 1,056 59,872 SH Sole 59,872 JAMBA INC COM 47023A101 122 55,727 SH Sole 55,727 JPMORGAN CHASE & CO COM 46625H100 40,450 1,062,800 SH Sole 1,062,800 KENNETH COLE PRODUCTIONS CL A 193294105 324 19,429 SH Sole 19,429 KKR & CO LP COM UNITS 48248M102 33,357 3,146,887 SH Sole 3,146,887 KKR FINANCIAL HOLDINGS LLC COM 48248A306 125,790 14,326,867 SH Sole 14,326,867 KOHLS CORP COM 500255104 34,026 645,907 SH Sole 645,907 LIBERTY MEDIA CORP INT COM SER A 53071M302 10,412 200,000 SH Sole 200,000 LINCOLN NATIONAL CORP COM 534187109 48,163 2,013,500 SH Sole 2,013,500 LINN ENERGY LLC-UNITS UNIT LTD LIAB 536020100 151,113 4,728,201 SH Sole 4,728,201 LORILLARD INC COM 544147101 44,523 554,390 SH Sole 554,390 MAGELLAN HEALTH SERVICES INC COM NEW 559079207 31,188 660,200 SH Sole 660,200 MCDONALD'S CORP COM 580135101 49,363 662,500 SH Sole 662,500 MCMORAN EXPLORATION CO COM 582411104 17,554 1,020,000 SH Sole 1,020,000 MGIC INVESTMENT CORP COM 552848103 84,562 9,161,600 SH Sole 9,161,600 MICROSOFT CORP COM 594918104 28,220 1,152,300 SH Sole 1,152,300 MOODY'S CORP COM 615369105 2,748 110,000 SH Sole 110,000 MULTIMEDIA GAMES INC COM 625453105 1,658 448,040 SH Sole 448,040 NBTY INC COM 628782104 7,840 142,600 SH Sole 142,600 OMNICARE INC COM 681904108 70,876 2,968,000 SH Sole 2,968,000 PACTIV CORPORATION COM 695257105 61,696 1,870,700 SH Sole 1,870,700 PEPSICO INC COM 713448108 11,727 176,500 SH Sole 176,500 PLAINS EXPLORATION & PRODUCT COM 726505100 86,856 3,256,700 SH Sole 3,256,700 PMI GROUP INC/THE COM 69344M101 29,087 7,925,600 SH Sole 7,925,600 REGAL ENTERTAINMENT GROUP CL A 758766109 37,935 2,891,400 SH Sole 2,891,400 RESOURCE AMERICA INC CL A 761195205 6,788 1,195,000 SH Sole 1,195,000 RRI ENERGY INC COM 74971X107 20,277 5,711,700 SH Sole 5,711,700 SALLY BEAUTY HOLDINGS INC COM 79546E104 379 33,817 SH Sole 33,817 SELECT COMFORT CORPORATION COM 81616X103 269 39,675 SH Sole 39,675 SELECT MEDICAL HOLDINGS CORP COM 81619Q105 20,112 2,612,000 SH Sole 2,612,000 SIRIUS XM RADIO INC COM 82967N108 29,421 24,517,500 SH Sole 24,517,500 SKECHERS USA INC CL A 830566105 1,117 47,538 SH Sole 47,538 SLM CORP COM 78442P106 204,672 17,720,500 SH Sole 17,720,500 SMURFIT-STONE CONTAINER CORP COM 83272A104 2,330 126,833 SH Sole 126,833

NAME OF ISSUER TITLE VALUE SH/PRN SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY OF CLASS CUSIP (X1000) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- -------------- --------- -------- -------- --- ---- ---------- -------- ---- ------ ---- SPDR BARCLAYS CAPITAL HIGH BRCLYS YLD ETF 78464A417 61,663 1,541,200 SH Sole 1,541,200 SPDR GOLD TRUST GOLD SHS 78463V107 68,547 535,900 SH Sole 535,900 STANLEY BLACK & DECKER INC COM 854502101 25,511 416,300 SH Sole 416,300 TEREX CORP COM 880779103 2,613 114,000 SH Sole 114,000 TEVA PHARMACEUTICAL ADR 881624209 113,057 2,143,264 SH Sole 2,143,264 THL CREDIT INC COM 872438106 12,369 1,050,000 SH Sole 1,050,000 TIME WARNER INC COM NEW 887317303 11,494 375,000 SH Sole 375,000 TRANSOCEAN LTD REG SHS H8817H100 26,359 410,000 SH Sole 410,000 TRAVELERS COS INC/THE COM 89417E109 22,090 424,000 SH Sole 424,000 UAL CORP COM NEW 902549807 98,783 4,175,125 SH Sole 4,175,125 UNITED RENTALS INC COM 911363109 12,877 867,700 SH Sole 867,700 UNITEDHEALTH GROUP INC COM 91324P102 37,110 1,056,976 SH Sole 1,056,976 VALIDUS HOLDINGS LTD COM SHS G9319H102 41,847 1,587,500 SH Sole 1,587,500 VODAFONE GROUP PLC SPON ADR 92857W209 26,368 1,062,800 SH Sole 1,062,800 WAL-MART STORES INC COM 931142103 50,309 940,000 SH Sole 940,000 WELLPOINT INC COM 94973V107 85,045 1,501,507 SH Sole 1,501,507 WELLS FARGO & CO COM 949746101 30,799 1,226,300 SH Sole 1,226,300 WILLIAMS COS INC COM 969457100 51,817 2,711,508 SH Sole 2,711,508 XL GROUP PLC SHS G98290102 98,742 4,558,737 SH Sole 4,558,737 YAHOO! INC COM 984332106 37,094 2,617,800 SH Sole 2,617,800