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: September 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 11/08/06 ------------------------ ------------------------------ ---------- 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: 132 ------------- Form 13F Information Table Value Total: $4,061,357 ------------- (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

Form 13F INFORMATION TABLE 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 ----------------------------- -------------- --------- ------ --------- --- ---- ---------- -------- --------- ------ ---- 21st Century Holding Co Com 90136Q100 2,247 121,700 SH SOLE 121,700 0 0 3M Co Com 88579Y101 104,114 1,399,000 SH SOLE 1,399,000 0 0 3M Co Com 88579Y101 0 1,118 SH PUT SOLE 1,118 0 0 3M Co Com 88579Y101 4 2,245 SH PUT SOLE 2,245 0 0 Abercrombie & Fitch Co Cl A 002896207 13,861 199,500 SH SOLE 199,500 0 0 Abercrombie & Fitch Co Cl A 002896207 11 1,000 SH CALL SOLE 1,000 0 0 Abercrombie & Fitch Co Cl A 002896207 7 995 SH CALL SOLE 995 0 0 Advanced Medical Optics Inc Com 00763M108 33,305 842,100 SH SOLE 842,100 0 0 Affordable Residential Cmtys Com 008273104 5,451 562,500 SH SOLE 562,500 0 0 Agere Systems Com 00845V308 84,114 5,633,900 SH SOLE 5,633,900 0 0 Altria Group Inc Com 02209S103 84,014 1,097,500 SH SOLE 1,097,500 0 0 American Tower Corp Cl A 029912201 62,010 1,698,900 SH SOLE 1,698,900 0 0 Atlas America Inc Com 049167109 52,662 1,233,878 SH SOLE 1,233,878 0 0 Autoliv Inc Com 052800109 1 1,541 SH CALL SOLE 1,541 0 0 Autoliv Inc Com 052800109 109,619 1,989,100 SH SOLE 1,989,100 0 0 Avis Budge Group COM 053774105 7,447 407,170 SH SOLE 407,170 0 0 Bank of America Corp Com 060505104 105,994 1,978,602 SH SOLE 1,978,602 0 0 Bed Bath & Beyond Inc Com 075896100 1 4,102 SH PUT SOLE 4,102 0 0 Bed Bath & Beyond Inc Com 075896100 85,905 2,245,300 SH SOLE 2,245,300 0 0 Berkshire Hathaway Inc Del CL B 084670207 39,478 12,438 SH SOLE 12,438 0 0 Boeing Co Com 097023105 3,241 41,100 SH SOLE 41,100 0 0 CA Inc COM 12673P105 24,050 1,015,200 SH SOLE 1,015,200 0 0 Cameco Corp Com 13321L108 0 296 SH CALL SOLE 296 0 0 Cameco Corp Com 13321L108 4 3,036 SH CALL SOLE 3,036 0 0 Cameco Corp Com 13321L108 0 958 SH CALL SOLE 958 0 0 Cameco Corp Com 13321L108 0 324 SH CALL SOLE 324 0 0

Form 13F INFORMATION TABLE (Cont'd) 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 ----------------------------- -------------- --------- ------ --------- --- ---- ---------- -------- --------- ------ ---- Cameco Corp Com 13321L108 48,740 1,332,800 SH SOLE 1,332,800 0 0 Canadian Natural Resources Com 136385101 22,339 490,100 SH SOLE 490,100 0 0 CBS Corp CL B 124857202 21 6,000 SH CALL SOLE 6,000 0 0 CBS Corp CL B 124857202 3 1,698 SH CALL SOLE 1,698 0 0 CBS Corp Cl B 124857202 21,685 769,800 SH SOLE 769,800 0 0 CIA Vale Do Rio Doce Sponsor ADR 204412100 42,192 2,279,400 SH SOLE 2,279,400 0 0 CISCO SYS Inc COM 17275R102 58,576 2,549,000 SH SOLE 2,549,000 0 0 Citigroup Inc Com 172967101 95,803 1,928,800 SH SOLE 1,928,800 0 0 CNX Gas Corp Com 12618H309 13,040 562,800 SH SOLE 562,800 0 0 Comcast Corp Cl A 20030N200 92,673 2,517,600 SH SOLE 2,517,600 0 0 Consol Energy Inc Com 20854P109 0 664 SH CALL SOLE 664 0 0 Consol Energy Inc Com 20854P109 2,107 66,400 SH SOLE 66,400 0 0 Corning Inc Com 219350105 51,483 2,109,100 SH SOLE 2,109,100 0 0 Corning Inc Com 219350105 2 1,500 SH PUT SOLE 1,500 0 0 Crystal Riv Cap Inc COM 229393301 32,032 1,400,000 SH SOLE 1,400,000 0 0 DaVita Inc Com 23918K108 44,039 761,000 SH SOLE 761,000 0 0 Deere & Co Com 244199105 3 1,028 SH CALL SOLE 1,028 0 0 Deere & Co Com 244199105 87,585 1,043,800 SH SOLE 1,043,800 0 0 Deutsche Bank AG Namen ORD D18190898 40,157 332,700 SH SOLE 332,700 0 0 Deutsche Bank AG Namen ORD D18190898 15 2,253 SH CALL SOLE 2,253 0 0 Dollar Gen Corp Com 256669102 40,860 2,997,800 SH SOLE 2,997,800 0 0 DST Systems Inc Com 233326107 8,671 140,600 SH SOLE 140,600 0 0 Echostar Communications Cl A 278762109 102,987 3,145,600 SH SOLE 3,145,600 0 0 Electronic Data Systems Corp Com 285661104 52,414 2,137,600 SH SOLE 2,137,600 0 0 Encana Corp Com 292505104 12,373 265,000 SH SOLE 265,000 0 0 Exelon Corp Com 30161N101 25,487 421,000 SH SOLE 421,000 0 0 Federated Dept Stores Com 31410H101 13 5,200 SH CALL SOLE 5,200 0 0 Federated Dept Stores Com 31410H101 54,574 1,263,000 SH SOLE 1,263,000 0 0 Foot Locker Inc Com 344849104 7 4,750 SH CALL SOLE 4,750 0 0 Foot Locker Inc Com 344849104 8 2,300 SH CALL SOLE 2,300 0 0 Foot Locker Inc Com 344849104 37,875 1,500,000 SH SOLE 1,500,000 0 0 Fred's Inc Cl A 356108100 8,203 650,000 SH SOLE 650,000 0 0 Given Imaging Ltd Com M52020100 8,942 468,400 SH SOLE 468,400 0 0 Grace WR & Co Com 38388F108 0 142 SH CALL SOLE 142 0 0

Form 13F INFORMATION TABLE (Cont'd) 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 ----------------------------- -------------- --------- ------ --------- --- ---- ---------- -------- --------- ------ ---- Grace WR & Co Com 38388F108 188 14,200 SH SOLE 14,200 0 0 Halliburton Co Com 406216101 0 38 SH PUT SOLE 38 0 0 Halliburton Co Com 406216101 4 1,600 SH PUT SOLE 1,600 0 0 Halliburton Co Com 406216101 75,535 2,655,000 SH SOLE 2,655,000 0 0 Hartford Finl Svcs Grp Com 416515104 4,121 47,500 SH SOLE 47,500 0 0 Hercules Inc Com 427056106 35,274 2,236,800 SH SOLE 2,236,800 0 0 Hilton Hotels Corp Com 432848109 10,101 362,700 SH SOLE 362,700 0 0 Hilton Hotels Inc Com 432848109 11 3,627 SH CALL SOLE 3,627 0 0 Home Depot Inc Com 437076102 70,639 1,947,600 SH SOLE 1,947,600 0 0 Janus Capital Group Inc Com 47102X105 1,666 84,500 SH SOLE 84,500 0 0 Kindred Healthcare Inc Com 494580103 61,960 2,084,100 SH SOLE 2,084,100 0 0 Kindred Healthcare Inc Com 494580103 0 342 SH CALL SOLE 342 0 0 Kindred Healthcare Inc Com 494580103 1 250 SH CALL SOLE 250 0 0 Legg Mason Inc Com 524901105 51,580 511,400 SH SOLE 511,400 0 0 Legg Mason Inc Com 524901105 0 296 SH PUT SOLE 296 0 0 Legg Mason Inc Com 524901105 2 1,852 SH PUT SOLE 1,852 0 0 Loews Corp - Carolina Group Com 540424207 33,234 600,000 SH SOLE 600,000 0 0 Mastercard Inc Com 57636Q104 27,415 389,700 SH SOLE 389,700 0 0 Mastercard Inc Com 57636Q104 29 2,310 SH CALL SOLE 2,310 0 0 Mastercard Inc Com 57636Q104 14 1,587 SH CALL SOLE 1,587 0 0 McKesson Corp Com 58155Q103 10,017 190,000 SH SOLE 190,000 0 0 Mirant Corp Com 60467R100 155,505 5,694,080 SH SOLE 5,694,080 0 0 National Oilwell Varco Inc Com 637071101 14,146 241,600 SH SOLE 241,600 0 0 News Corp Cl A 65248E104 96,863 4,929,400 SH SOLE 4,929,400 0 0 Nexen Inc Com 65334H102 23,827 445,700 SH SOLE 445,700 0 0 Sponsored Nokia Corp-Spon ADR 654902204 93,254 4,736,100 SH SOLE 4,736,100 0 0 Northstar Realty Finance Corp Com 66704R100 5,066 398,900 SH SOLE 398,900 0 0 NTL Inc Com 62941W101 95,006 3,736,000 SH SOLE 3,736,000 0 0 Omnicare Inc Com 681904108 2 2,999 SH CALL SOLE 2,999 0 0 Omnicare Inc Com 681904108 1 2,647 SH CALL SOLE 2,647 0 0 Omnicare Inc Com 681904108 46,628 1,082,100 SH SOLE 1,082,100 0 0 Oracle Corp Com 68389X105 64,769 3,651,000 SH SOLE 3,651,000 0 0 Pacific Sunware Calif Inc Com 694873100 9,802 650,000 SH SOLE 650,000 0 0

Form 13F INFORMATION TABLE (Cont'd) 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 ----------------------------- -------------- --------- ------ --------- --- ---- ---------- -------- --------- ------ ---- Petro-Canada Com 71644E102 1,188 26,400 SH SOLE 26,400 0 0 Radio One Inc Cl D 75040P405 9,014 1,442,300 SH SOLE 1,442,300 0 0 Rait Investment Trust Com 749227104 4,255 147,500 SH SOLE 147,500 0 0 Readers Digest Association Com 755267101 52,116 4,021,300 SH SOLE 4,021,300 0 0 Realogy Corp Com 75605E100 75,746 3,339,784 SH SOLE 3,339,784 0 0 Rent A CTR Inc Com 76009N100 3,430 117,100 SH SOLE 117,100 0 0 Resource America Inc Cl A 761195205 21,505 1,033,900 SH SOLE 1,033,900 0 0 Resource Capital Corp Com 76120W302 36,789 2,381,167 SH SOLE 2,381,167 0 0 Scientific Games Corp CL A 80874P109 10 3,137 SH CALL SOLE 3,137 0 0 Scientific Games Corp Cl A 80874P109 22,842 718,300 SH SOLE 718,300 0 0 0 Service Corp International Com 817565104 74,066 7,930,000 SH SOLE 7,930,000 0 0 Sponsored Shire Plc ADR 82481R106 53,104 1,075,200 SH SOLE 1,075,200 0 0 Spirit Finance Corp Com 848568309 28,102 2,420,500 SH SOLE 2,420,500 0 0 Supervalu Inc Com 868536103 17,790 600,000 SH SOLE 600,000 0 0 Tal International Group Inc Com 874083108 2,762 130,200 SH SOLE 130,200 0 0 Sponsored Total SA ADR 89151E109 21,048 319,200 SH SOLE 319,200 0 0 Tower Group Inc Com 891777104 14,374 431,000 SH SOLE 431,000 0 0 Tower Group Inc Com 891777104 6 3,017 SH SOLE 3,017 0 0 Tower Group Inc Com 891777104 5 1,293 SH SOLE 1,293 0 0 Transocean Inc Com G90078109 206,106 2,814,500 SH SOLE 2,814,500 0 0 Transocean Inc Com G90078109 0 1,110 SH PUT SOLE 1,110 0 0 Transocean Inc Com G90078109 5 4,745 SH SOLE 4,745 0 0 TXU Corp Com 873168108 8 2,513 SH CALL SOLE 2,513 0 0 TXU Corp Com 873168108 6 1,825 SH CALL SOLE 1,825 0 0 TXU Corp Com 873168108 14 2,625 SH CALL SOLE 2,625 0 0 TXU Corp Com 873168108 2 994 SH CALL SOLE 994 0 0 TXU Corp Com 873168108 49,747 795,700 SH SOLE 795,700 0 0 Tyco International Ltd Com 902124106 154,029 5,502,991 SH SOLE 5,502,991 0 0 United States Steel Corp New Com 912909108 46,334 803,300 SH SOLE 803,300 0 0 United States Steel Corp New Com 912909108 5 1,400 SH SOLE 1,400 0 0 UnitedHealth Group Inc Com 91324P102 56,270 1,143,700 SH SOLE 1,143,700 0 0 Viacom Inc Cl B 92553P201 36,509 981,950 SH SOLE 981,950 0 0 Weatherford Intl Ltd Com G95089101 0 104 SH CALL SOLE 104 0 0

Form 13F INFORMATION TABLE 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 ----------------------------- -------------- --------- ------ --------- --- ---- ---------- -------- --------- ------ ---- Weatherford Intl Ltd Com G95089101 5 2,000 SH PUT SOLE 2,000 0 0 Weatherford Intl Ltd Com G95089101 20,459 490,400 SH SOLE 490,400 0 0 Wellpoint Inc Com 94973V107 116,122 1,507,100 SH SOLE 1,507,100 0 0 Williams Cos Inc Com 969457100 89,441 3,747,000 SH SOLE 3,747,000 0 0 Williams Cos Inc Com 969457100 1 500 SH PUT SOLE 500 0 0 Wyndham Worldwide Corp Com 98310W108 39,031 1,395,443 SH SOLE 1,395,443 0 0 ----------------------------- -------------- --------- ------ --------- --- ---- ---------- -------- --------- ------ ----