13F-HR 1 a13f10q2.txt UNITED STATES SECURITIES AND EXCHANGE COMISSION WASHINGTON, DC 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 06/30/2010 Check here if Amendment [ ]; Amendment Number: 1 This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Appaloosa Management L.P. Address: 51 JFK Parkway, Suite 250B Short Hills, NJ 07078 13F File Number: 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: Lawrence P. O'Friel Title: Chief Financial Officer Phone: 973-701-7000 Signature, Place and Date of Signing: Lawrence P. O'Friel Short Hills, New Jersey 08/13/2010 Report Type (check only one): [X ] 13F Holdings Report [ ] 13F Notice [ ] 13F Combination Report List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQIURED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 56 Form 13F Information Table Value Total: 2,872,234,000 Name of Issuer Title of Class CUSIP Fair Market Shares or Investment Discretion Managers Voting Authority (Shares) Number Value Principal (a) Sole (b) Shared - (c) Shared - (a) Sole (b) Shared (c) None Amount As Defined Other ------------------------------------- ---------------- -------------- --------- ---------- ---- American International Group Inc UNIT 99/99/9999 026874115 52,487 5,467,396 x 5,467,396 AMR Corp COM 001765106 17,485 2,578,894 x 2,578,894 Arkansas Best Corp COM 040790107 4,347 209,502 x 209,502 Banco Santander SA ADR 05964H105 7,917 754,015 x 754,015 Bank of America Corp COM 060505104 393,015 27,349,699 x 27,349,699 BB&T Corp COM 054937107 14,920 567,091 x 567,091 Brunswick Corp COM 117043109 20,304 1,633,464 x 1,633,464 Capital One Financial Corp *W EXP 11/14/201 14040H13 3,896 254,979 x 254,979 Capital One Financial Corp COM 14040H105 71,240 1,767,747 x 1,767,747 CF Industries Holdings Inc COM 125269100 77,145 1,215,840 x 1,215,840 Citigroup Inc COM 172967101 217,265 57,783,144 x 57,783,144 CNO Financial Group Inc COM NEW 12621E103 5,575 1,126,195 x 1,126,195 Continental Airlines Inc CL B 210795308 14,172 644,196 x 644,196 Con-Way Inc. COM 205944101 18,990 632,575 x 632,575 Delta Air Lines Inc COM NEW 247361702 16,422 1,397,641 x 1,397,641 E-Trade Financial Corp COM NEW 269246401 5,897 498,897 x 498,897 E-Trade Financial Corp NOTE 269246AZ7 53,080 46,257,000 x 46,257,000 Fifth Third Bancorp COM 316773100 156,028 12,695,506 x 12,695,506 Goodyear Tire & Rubber Co COM 382550101 27,238 2,740,251 x 2,740,251 Gramercy Capital Corp COM 384871109 3,924 3,114,521 x 3,114,521 Johnson & Johnson COM 478160104 78,309 1,325,920 x 1,325,920 Macy's Inc COM 55616P104 86,602 4,838,123 x 4,838,123 MPG Office Trust Inc COM 553274101 11,857 4,046,700 x 4,046,700 Merck & Co Inc COM 58933Y105 134,390 3,843,000 x 3,843,000 Microsoft Corp COM 594918104 55,026 2,391,400 x 2,391,400 Navistar International Corp COM 63934E108 36,983 751,683 x 751,683 Newcastle Investment Corp COM 65105M108 10,975 4,095,197 x 4,095,197 OfficeMax Inc COM 67622P101 2,077 159,052 x 159,052 Owens Corning *W EXP 10/30/201 690742127 29 10,644 x 10,644 Pfizer Inc. COM 717081103 161,765 11,344,002 x 11,344,002 PNC Financial Srvc Grp Inc *W EXP 12/31/201 693475121 1,428 123,249 x 123,249 Royal Bk Scotland Group PLC SPON ADR F 780097804 935 53,587 x 53,587 Royal Bk Scotland Group PLC SPON ADR SER H 780097879 1,519 88,752 x 88,752 Royal Bk Scotland Group PLC SP ADR L RP PF 780097788 23,848 1,711,961 x 1,711,961 Royal Bk Scotland Group PLC SP ADR PREF M 780097796 16,104 1,456,022 x 1,456,022 Royal Bk Scotland Group PLC ADR PREF SER N 780097770 34,646 3,107,224 x 3,107,224 Royal Bk Scotland Group PLC ADR PREF SHS Q 780097754 18,405 1,607,393 x 1,607,393 Royal Bk Scotland Group PLC SP ADR PREF S 780097739 22,395 2,003,114 x 2,003,114 Royal Bk Scotland Group PLC SP ADR PREF T 780097713 24,306 2,007,086 x 2,007,086 Strategic Hotels & Resorts Inc COM 86272T106 5,435 1,237,956 x 1,237,956 Sunoco Inc COM 86764P109 18,614 535,354 x 535,354 Suntrust Banks Inc COM 867914103 110,416 4,738,890 x 4,738,890 SuperMedia Inc COM 868447103 9,057 495,164 x 495,164 Tesoro Corp COM 881609101 12,237 1,048,600 x 1,048,600 Hartford Financial Services Group COM 416515104 136,791 6,181,233 x 6,181,233 UAL Corp COM NEW 902549807 43,417 2,111,738 x 2,111,738 United Parcel Service Inc CALL 911312906 18 3,500 x 3,500 United Parcel Service Inc CALL 911312906 189 3,500 x 3,500 US Airways Group Inc COM 90341W108 15,067 1,749,966 x 1,749,966 Valero Energy Corp COM 91913Y100 46,983 2,613,064 x 2,613,064 Virgin Media Inc *W EXP 99/99/999 92769L119 9 237,059 x 237,059 Wells Fargo & Co COM 949746101 202,271 7,901,200 x 7,901,200 Wells Fargo & Co PERP PFD CNV A 949746804 283,042 304,019 x 304,019 Willis Group Holdings Limited SHS G96666105 40,260 1,339,780 x 1,339,780 Yahoo! Inc COM 984332106 42,391 3,065,172 x 3,065,172 YRC Worldwide Inc. COM 984249102 3,092 20,612,217 x 20,612,217