13F-HR 1 oai13fhr042408.txt FORM 13F-HR - OMEGA ADVISORS, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Report for the Calendar Year or Quarter Ended: March 31, 2008 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 April 25, 2008 ------------------------- -------------------------- -------------------- [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: 81 -------------- Form 13F Information Table Value Total: $3,361,569 -------------- (in thousands) List of Other Included Managers: NONE --------------

Title Of Market Shares/Prn Sh/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP Value amount Prn Call Discretion Managers Sole Shared None -------------- ------- ----- ----- ------ --- ---- ---------- -------- ---- ------ ---- 3M CO COM 88579Y101 93,998,540 1,187,600 SH SOLE 1,187,600 AES CORP COM 00130H105 68,026,936 4,080,800 SH SOLE 4,080,800 ALESCO FINANCIAL INC COM 014485106 1,852,871 643,358 SH SOLE 643,358 ALTRIA GROUP INC COM 02209S103 17,147,280 772,400 SH SOLE 772,400 AMERICAN TOWER CORP-CL A CLA 029912201 34,516,563 880,300 SH SOLE 880,300 ANADARKO PETROLEUM CORP COM 032511107 73,675,767 1,168,900 SH SOLE 1,168,900 APACHE CORP COM 037411105 31,050,740 257,000 SH SOLE 257,000 ARCELORMITTAL-NY REGISTERED COM 03938L104 1,202,460 14,700 SH SOLE 14,700 ATLAS AMERICA INC COM 049167109 134,156,613 2,219,666 SH SOLE 2,219,666 ATLAS ENERGY RESOURCES LLC COM 049303100 115,556,437 3,727,627 SH SOLE 3,727,627 ATLAS PIPELINE HOLDINGS LP COM 04939R108 15,200,012 555,556 SH SOLE 555,556 ATLAS PIPELINE PARTNERS LP COM 049392103 87,716,097 2,189,618 SH SOLE 2,189,618 BOEING CO COM 097023105 92,419,599 1,242,700 SH SOLE 1,242,700 BPW ACQUISITION CORP-UNIT COM 055637201 9,942,400 1,040,000 SH SOLE 1,040,000 BURLINGTON NORTHERN SANTA FE COM 12189T104 33,208,422 360,100 SH SOLE 360,100 CARROLS RESTAURANT GROUP INC COM 14574X104 2,769,193 310,100 SH SOLE 310,100 CASTLEPOINT HOLDINGS LTD COM G19522112 2,450,014 251,800 SH SOLE 251,800 CIT GROUP INC COM 125581108 24,010,470 2,026,200 SH SOLE 2,026,200 CNET NETWORKS INC COM 12613R104 25,819,860 3,636,600 SH SOLE 3,636,600 COMCAST CORP-SPECIAL CL A CLA SPL 20030N200 5,920,537 312,100 SH SOLE 312,100 CONOCOPHILLIPS COM 20825C104 49,353,596 647,600 SH SOLE 647,600 CORNING INC COM 219350105 105,501,944 4,388,600 SH SOLE 4,388,600 CROWN CASTLE INTL CORP COM 228227104 9,343,341 270,900 SH SOLE 270,900 CRYSTAL RIVER CAPITAL INC COM 229393301 17,362,599 1,944,300 SH SOLE 1,944,300 CVS CAREMARK CORP COM 126650100 52,042,022 1,284,671 SH SOLE 1,284,671 DAVITA INC COM 23918K108 71,501,496 1,497,100 SH SOLE 1,497,100 DISCOVER FINANCIAL SERVICES COM 254709108 16,435,480 1,004,000 SH SOLE 1,004,000 DISH NETWORK CORP-A CLA 25470M109 74,873,253 2,606,100 SH SOLE 2,606,100 DOMTAR CORP COM 257559104 39,022,522 5,713,400 SH SOLE 5,713,400 ECHOSTAR CORP-A CLA 278768106 14,567,355 493,140 SH SOLE 493,140 ENTERPRISE GP HOLDINGS LP COM 293716106 36,096,534 1,208,050 SH SOLE 1,208,050 EXPRESS SCRIPTS INC COM 302182100 3,923,520 61,000 SH SOLE 61,000

Title Of Market Shares/Prn Sh/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP value amount Prn Call Discretion Managers Sole Shared None --------------------------- ----- ----- ------- ---------- --- ---- ---------- -------- ---- ------ ---- FREEPORT-MCMORAN COPPER COM 35671D857 11,382,826 118,300 SH SOLE 118,300 GIVEN IMAGING LTD COM M5202010 22,610,760 1,339,500 SH SOLE 1,339,500 HALLIBURTON CO COM 406216101 72,909,954 1,853,800 SH SOLE 1,853,800 HEARST-ARGYLE TELEVISION INC COM 422317107 2,413,710 117,000 SH SOLE 117,000 HILLTOP HOLDINGS INC COM 432748101 3,063,580 294,575 SH SOLE 294,575 J.C. PENNEY CO INC COM 708160106 5,569,767 147,700 SH SOLE 147,700 KKR FINANCIAL HOLDINGS LLC COM 48248A306 40,099,081 3,167,384 SH SOLE 3,167,384 LIGAND PHARMACEUTICALS-CL B CLB 53220K207 10,296,000 2,574,000 SH SOLE 2,574,000 LINN ENERGY LLC-UNITS COM 536020100 100,090,119 5,267,901 SH SOLE 5,267,901 LOEWS CORP COM 540424108 87,776,128 2,182,400 SH SOLE 2,182,400 LSI CORP COM 502161102 61,659,477 12,456,460 SH SOLE 12,456,460 MAGUIRE PROPERTIES INC COM 559775101 18,027,738 1,259,800 SH SOLE 1,259,800 METROPCS COMMUNICATIONS INC COM 591708102 10,177,900 598,700 SH SOLE 598,700 MIRANT CORP COM 60467R100 143,528,710 3,944,180 SH SOLE 3,944,180 NEWS CORP-CL A CLA 65248E104 59,771,250 3,187,800 SH SOLE 3,187,800 NOKIA CORP-SPON ADR SPON ADR 654902204 12,572,850 395,000 SH SOLE 395,000 NRDC ACQUISITION CORP COM 62941R102 9,190,000 1,000,000 SH SOLE 1,000,000 NRDC ACQUISITION CORP-CW11 COM 62941R110 500,000 1,000,000 SH SOLE 1,000,000 NUCOR CORP COM 670346105 84,905,316 1,253,400 SH SOLE 1,253,400 ORACLE CORP COM 68389X105 44,500,956 2,275,100 SH SOLE 2,275,100 PHILIP MORRIS INTERNATIONAL COM 718172109 39,067,992 772,400 SH SOLE 772,400 POTASH CORP OF SASKATCHEWAN COM 73755L107 6,115,274 39,400 SH SOLE 39,400 RAIT FINANCIAL TRUST COM 749227104 23,906,655 3,444,763 SH SOLE 3,444,763 RESEARCH IN MOTION COM 760975102 146,909,070 1,309,000 SH SOLE 1,309,000 RESOURCE AMERICA INC-CL A CLA 761195205 11,416,545 1,208,100 SH SOLE 1,208,100 RESOURCE CAPITAL CORP COM 76120W302 23,374,896 3,087,833 SH SOLE 3,087,833 ROCKWELL AUTOMATION INC COM 773903109 22,824,450 397,500 SH SOLE 397,500 RYANAIR HOLDINGS PLC-SP ADR SPON ADR 783513104 11,312,000 400,000 SH SOLE 400,000 SERVICE CORP INTERNATIONAL COM 817565104 21,565,752 2,126,800 SH SOLE 2,126,800 SHIRE PLC-ADR SPON ADR 82481R106 70,143,192 1,210,200 SH SOLE 1,210,200 SLM CORP COM 78442P106 86,153,410 5,612,600 SH SOLE 5,612,600 TEMBEC INC COM 87974D100 1,627,220 478,123 SH SOLE 478,123 TEVA PHARMACEUTICAL-SP ADR ADR 881624209 82,726,290 1,791,000 SH SOLE 1,791,000 TIMBERLAND CO-CL A CLA 887100105 20,750,149 1,511,300 SH SOLE 1,511,300

Title Of Market Shares/Prn Sh/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP value amount Prn Call Discretion Managers Sole Shared None --------------------------- ----- ----- ------ ---------- --- ---- ---------- -------- ---- ------ ---- TRANSOCEAN INC COM G90073100 212,435,839 1,571,271 SH SOLE 1,571,271 TRIPLECROWN ACQUISITION CORP COM 89677G109 16,416,000 1,800,000 SH SOLE 1,800,000 TRIPLECROWN ACQUISITION-CW12 COM 89677G117 972,000 1,800,000 SH SOLE 1,800,000 TYCO INTERNATIONAL LTD COM G9143X208 25,390,420 576,400 SH SOLE 576,400 UNITEDHEALTH GROUP INC COM 91324P102 22,911,248 666,800 SH SOLE 666,800 UNITRIN INC COM 913275103 12,411,408 351,200 SH SOLE 351,200 VALERO ENERGY CORP COM 91913Y100 21,686,976 441,600 SH SOLE 441,600 VICTORY ACQUISITION CORP COM 92644D100 14,100,000 1,500,000 SH SOLE 1,500,000 VICTORY ACQUISITION-CW11 COM 92644D118 840,000 1,500,000 SH SOLE 1,500,000 WELLPOINT INC COM 94973V107 87,240,597 1,976,900 SH SOLE 1,976,900 WILLIAMS COS INC COM 969457100 107,356,496 3,255,200 SH SOLE 3,255,200 WYETH COM 983024100 52,830,576 1,265,100 SH SOLE 1,265,100 WYNDHAM WORLDWIDE CORP COM 98310W108 26,845,949 1,298,160 SH SOLE 1,298,160 WYNN RESORTS LTD COM 983134107 7,044,800 70,000 SH SOLE 70,000 XL CAP LTD -CLASS A CLA G98255105 23,483,385 794,700 SH SOLE 794,700 Total: 3,361,569,184 ------