13F-HR 1 oai13fhr051409.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, 2009 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 May 14, 2009 ------------------------- -------------------------- -------------------- [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: 62 -------------- Form 13F Information Table Value Total: $1,184,048 -------------- (in thousands) List of Other Included Managers: None --------------

Market Title of Value Shares/Prn SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP x1000 Amount Prn Call Discretion Managers Sole Shared None -------------- ----- ----- ----- ------ --- ---- ---------- -------- ---- ------ ---- AES CORP COM 00130H105 32298 5559000 SH Sole 5559000 AETNA INC COM 00817Y108 10340 425000 SH Sole 425000 ALLERGAN INC COM 018490102 4776 100000 SH Sole 100000 ANNALY CAPITAL MANAGEMENT INC COM 035710409 15844 1142300 SH Sole 1142300 ANWORTH MORTGAGE ASSET CORP COM 037347101 5400 880900 SH Sole 880900 ATLAS AMERICA INC COM 049167109 30842 3524838 SH Sole 3524838 ATLAS ENERGY RESOURCES LLC COM 049303100 39197 3715327 SH Sole 3715327 ATLAS PIPELINE HOLDINGS LP COM UNITS LP 04939R108 2469 1726456 SH Sole 1726456 ATLAS PIPELINE PARTNERS LP UNIT LP INT 049392103 14372 3666418 SH Sole 3666418 CLS A NY CABLEVISION SYSTEMS-NY GRP-A CABLVS 12686C109 291 22500 SH Sole 22500 CAPSTEAD MORTGAGE CORP COM 14067E506 1826 170000 SH Sole 170000 CHINA MOBILE LTD SPON ADR 16941M109 326 7500 SH Sole 7500 COACH INC COM 189754104 4175 250000 SH Sole 250000 CONTINENTAL AIRLINES-CLASS B COM 210795308 19298 2190500 SH Sole 2190500 COX RADIO INC CL A 224051102 146 35600 SH Sole 35600 DELTA AIR LINES INC COM NEW 247361702 10354 1839100 SH Sole 1839100 DIRECTV GROUP INC/THE COM 25459L106 16979 745000 SH Sole 745000 DIREXION FINANCIAL BULL 3X TECH BULL 3X 25459W508 303 55000 SH Sole 55000 DISH NETWORK CORP-A CL A 25470M109 20690 1862300 SH Sole 1862300 DOMTAR CORP COM 257559104 5650 5946900 SH Sole 5946900 EBAY INC COM 278642103 43312 3448400 SH Sole 3448400 EDISON INTERNATIONAL COM 281020107 1936 67200 SH Sole 67200 ENTERPRISE GP HOLDINGS LP UNIT LP INT 293716106 28904 1277800 SH Sole 1277800 EXELON CORP COM 30161N101 10263 226100 SH Sole 226100 GIVEN IMAGING LTD ORD SHS M52020100 6889 975809.01 SH Sole 975809.01 GOOGLE INC-CL A CL A 38259P508 522 1500 SH Sole 1500 HALLIBURTON CO COM 406216101 10741 694300 SH Sole 694300 HATTERAS FINANCIAL CORP COM 41902R103 6454 258250 SH Sole 258250 HILLTOP HOLDINGS INC COM 432748101 7490 656975 SH Sole 656975 KKR FINANCIAL HOLDINGS LLC COM 48248A306 6393 7264867 SH Sole 7264867 LIBERTY MEDIA CORP INT COM SER A 53071M500 1995 100000 SH Sole 100000 LIFE TIME FITNESS INC COM 53217R207 3140 250000 SH Sole 250000 LINN ENERGY LLC-UNITS UNIT LTD LIAB 536020100 88190 5918801 SH Sole 5918801 MARATHON OIL CORP COM 565849106 9075 345200 SH Sole 345200 MFA FINANCIAL INC COM 55272X102 11568 1967300 SH Sole 1967300 NORTHSTAR REALTY FINANCE COR COM 66704R100 6925 2984910 SH Sole 2984910

Market Title of Value Shares/Prn SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP x1000 Amount Prn Call Discretion Managers Sole Shared None -------------- ----- ----- ----- ------ --- ---- ---------- -------- ---- ------ ---- NUCOR CORP COM 670346105 28521 747200 SH Sole 747200 PRICELINE.COM INC COM 741503403 591 7500 SH Sole 7500 PSHS ULT PROSHARES ULTRA S&P500 S&P 500 74347R107 118 6000 SH Sole 6000 PSHS ULTSH PROSHARES ULTRASHORT 20+Y TR 20YRS 74347R297 5673 130000 SH Sole 130000 PSHS REAL PROSHARES ULTRASHORT REAL ES ESTATE 74347R552 1638 31000 SH Sole 31000 PROSPERITY BANCSHARES INC COM 743606105 8686 317600 SH Sole 317600 PWRSHS DB GOLD DOUBLE LONG PS GOLD DL ETN 25154H749 988 50000 SH Sole 50000 RESOURCE AMERICA INC CL A 761195205 4780 1195000 SH Sole 1195000 RESOURCE CAPITAL CORP COM 76120W302 6649 2187033 SH Sole 2187033 SHIRE PLC-ADR SPON ADR 82481R106 27095 753900 SH Sole 753900 SLM CORP COM 78442P106 78358 15829800 SH Sole 15829800 SPDR BARCLAYS CAPITAL HIGH BRCLYS YLD ETF 78464A417 15309 520000 SH Sole 520000 SPDR GOLD TRUST GOLD SHS 78463V107 12368 137000 SH Sole 137000 STARBUCKS CORP COM 855244109 7777 700000 SH Sole 700000 TEVA PHARMACEUTICAL-SP ADR ADR 881624209 60424 1341264 SH Sole 1341264 TOWER GROUP INC COM 891777104 23555 956363 SH Sole 956363 TRANSOCEAN LTD REG SHS H8817H100 116872 1986264 SH Sole 1986264 UNITEDHEALTH GROUP INC COM 91324P102 43020 2055400 SH Sole 2055400 UNITRIN INC COM 913275103 13748 983400 SH Sole 983400 WELLPOINT INC COM 94973V107 65635 1728600 SH Sole 1728600 WILLIAMS COS INC COM 969457100 36542 3211100 SH Sole 3211100 WILLIS GROUP HOLDINGS LTD SHS G96655108 52802 2400100 SH Sole 2400100 WYETH COM 983024100 51218 1190000 SH Sole 1190000 WYNDHAM WORLDWIDE CORP COM 98310W108 20220 4814200 SH Sole 4814200 XL CAPITAL LTD -CLASS A CL A G98255105 19026 3484700 SH Sole 3484700 XTO ENERGY INC COM 98385X106 3062 100000 SH Sole 100000