13F-HR 1 a13f12q1.txt UNITED STATES SECURITIES AND EXCHANGE COMISSION WASHINGTON, DC 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 03/31/2012 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: Michael L. Palmer Title: Chief Financial Officer Phone: 973-701-7000 Signature, Place and Date of Signing: Michael L. Palmer Short Hills, New Jersey 05/14/2012 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: 53 Form 13F Information Table Value Total: 4,052,383,000 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 ------------------------------------- ---------------- -------------- --------- ---------- ---- Apple Inc COM 037833100 410,637 685,000 x 685,000 Bank of America Corp COM 060505104 71,358 7,456,408 x 7,456,408 Beazer Homes USA Inc COM 07556Q105 931 286,614 x 286,614 Boyd Gaming Corp COM 103304101 5,456 695,975 x 695,975 Broadcom Corp CL A 111320107 95,009 2,417,523 x 2,417,523 Calumet Specialty Products Partners LP UT LTD PARTNER 131476103 34,054 1,288,944 x 1,288,944 CF Industries Holdings Inc COM 125269100 12,663 69,332 x 69,332 Chimera Investment Corp COM 16934Q109 12,505 4,418,884 x 4,418,884 Citigroup Inc COM NEW 172967424 222,747 6,094,305 x 6,094,305 CVR Energy Inc COM 12662P108 85,865 3,209,911 x 3,209,911 Dean Foods Co COM 242370104 53,612 4,427,112 x 4,427,112 Delphi Automotive PLC SHS G27823106 7,244 229,236 x 229,236 Delta Air Lines Inc COM NEW 247361702 66,795 6,740,189 x 6,740,189 EMC Corp COM 268648102 49,011 1,640,261 x 1,640,261 Financial Select Sector SPDR Fund SBI INT-FINL 81369Y605 66,532 4,216,200 x 4,216,200 Ford Motor Co. COM PAR $0.01 345370860 81,631 6,535,715 x 6,535,715 Fusion-io Inc COM 36112J107 32,782 1,153,879 x 1,153,879 General Motors Corp COM 37045V100 56,485 2,202,153 x 2,202,153 General Motors Corp *W EXP 07/10/201 37045V118 2,920 175,561 x 175,561 General Motors Corp *W EXP 07/10/201 37045V126 1,966 175,561 x 175,561 Goodyear Tire & Rubber Co. COM 382550101 97,070 8,651,496 x 8,651,496 Google Inc CL A 38259P508 103,969 162,137 x 162,137 Huntsman Corp COM 447011107 71,980 5,137,764 x 5,137,764 International Paper Company COM 460146103 19,350 551,287 x 551,287 iShares DJ US Home Construction Index DJ HOME CONSTN 464288752 4,734 321,595 x 321,595 Macy's Inc COM 55616P104 18,554 467,001 x 467,001 Marvell Technology Group Ltd. ORD G5876H105 41,378 2,630,524 x 2,630,524 Masco Corp COM 574599106 55,502 4,151,256 x 4,151,256 MFA Financial Inc COM 55272X102 7,691 1,029,583 x 1,029,583 Microsoft Corp COM 594918104 40,313 1,250,000 x 1,250,000 MPG Office Trust Inc COM 553274101 10,044 4,292,354 x 4,292,354 Mueller Water Products Inc. COM 624758108 31,441 9,441,736 x 9,441,736 NetApp Inc COM 64110D104 4,477 100,000 x 100,000 Nuance Communications Inc COM 67020Y100 24,093 941,869 x 941,869 Oracle Corp CALL 68389X905 189 20,100 x 20,100 Oracle Corp COM 68389X105 68,056 2,333,883 x 2,333,883 Owens Corning Inc COM 690742101 52,938 1,469,279 x 1,469,279 Powershares QQQ Nasdaq 100 UNIT SER 1 73935A104 1,273,602 18,854,218 x 18,854,218 QUALCOMM Inc COM 747525103 102,947 1,513,486 x 1,513,486 Royal Bank Scotland Group PLC SP ADR L RP PF 780097788 10,872 582,962 x 582,962 Royal Bank Scotland Group PLC SP ADR PREF M 780097796 21,457 1,305,196 x 1,305,196 Royal Bank Scotland Group PLC ADR PREF SER N 780097770 47,108 2,915,072 x 2,915,072 Royal Bank Scotland Group PLC ADR PREF SHS Q 780097754 24,943 1,468,102 x 1,468,102 Royal Bank Scotland Group PLC SP ADR PREF S 780097739 35,663 2,135,514 x 2,135,514 Royal Bank Scotland Group PLC SP ADR PREF T 780097713 32,775 1,725,014 x 1,725,014 Sandisk Corp COM 80004C101 33,772 681,021 x 681,021 SPDR S&P 500 ETF Trust TR UNIT 78462F103 21,682 154,079 x 154,079 The Hartford Financial Services Group COM 416515104 60,199 2,855,744 x 2,855,744 The Hartford Financial Services Group *W EXP 06/26/201 416515120 16,989 1,275,475 x 1,275,475 Two Harbors Investment Corp COM 90187B101 30,420 3,000,000 x 3,000,000 United Continental Holdings Inc. COM 910047109 171,313 7,968,035 x 7,968,035 US Airways Group Inc COM 90341W108 80,888 10,657,243 x 10,657,243 Valero Energy Corp COM 91913Y100 65,769 2,552,161 x 2,552,161