13F-HR 1 a13f09q4.txt UNITED STATES SECURITIES AND EXCHANGE COMISSION WASHINGTON, DC 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 12/31/2009 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 02/12/2010 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: 48 Form 13F Information Table Value Total: 3,396,094,000 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 183,620 16,206,550 x 16,206,550 AMR Corp COM 001765106 46,163 5,971,868 x 5,971,868 Bank of America Corp COM 060505104 485,717 32,252,101 x 32,252,101 Bank of America Corp UNIT 99/99/9999 060505419 221,174 14,824,000 x 14,824,000 BB&T Corp COM 054937107 24,207 954,155 x 954,155 Brunswick Corp COM 117043109 27,088 2,131,270 x 2,131,270 Capital One Financial Corp *W EXP 11/14/201 14040H139 4,667 354,379 x 354,379 Capital One Financial Corp COM 14040H105 115,020 3,000,000 x 3,000,000 Citigroup Inc COM 172967101 457,183 138,121,800 x 138,121,800 Conseco Inc COM NEW 208464883 10,760 2,152,094 x 2,152,094 Conseco Inc DBCV 3.500% 9/3 208464BH9 116,030 116,476,572 x 116,476,572 Delta Air Lines Inc COM NEW 247361702 34,618 3,041,978 x 3,041,978 E-Trade Financial Corp COM 269246104 13,849 7,913,573 x 7,913,573 E-Trade Financial Corp NOTE 8/3 269246AZ7 78,735 46,257,000 x 46,257,000 Fifth Third Bancorp COM 316773100 237,609 24,370,199 x 24,370,199 Goodyear Tire & Rubber Co COM 382550101 28,082 1,991,600 x 1,991,600 Gramercy Capital Corp COM 384871109 11,887 4,589,395 x 4,589,395 Hospitality Properties Trust COM SH BEN INT 44106M102 6,775 285,739 x 285,739 Maguire Prop Inc COM 559775101 6,493 4,300,000 x 4,300,000 Microsoft Corp COM 594918104 91,470 3,000,000 x 3,000,000 Navistar International Corp COM 63934E108 7,487 193,706 x 193,706 Newcastle Investment Corp COM 65105M108 7,427 3,553,810 x 3,553,810 NRG Energy Inc COM NEW 629377508 42 1,786 x 1,786 Office Depot Inc COM 676220106 6,746 1,045,844 x 1,045,844 OfficeMax Inc COM 67622P101 5,709 449,852 x 449,852 Owens Corning *W EXP 10/30/201 690742127 19 10,644 x 10,644 Royal Bk Scotland Group PLC SPON ADR F 780097804 860 53,587 x 53,587 Royal Bk Scotland Group PLC SPON ADR SER H 780097879 1,282 88,752 x 88,752 Royal Bk Scotland Group PLC SP ADR L RP PF 780097788 22,136 1,711,961 x 1,711,961 Royal Bk Scotland Group PLC SP ADR PREF M 780097796 15,107 1,438,728 x 1,438,728 Royal Bk Scotland Group PLC ADR PREF SER N 780097770 34,065 3,288,131 x 3,288,131 Royal Bk Scotland Group PLC ADR PFD SER P 780097762 8,327 814,780 x 814,780 Royal Bk Scotland Group PLC ADR PREF SHS Q 780097754 9,586 868,295 x 868,295 Royal Bk Scotland Group PLC ADR PREF SHS R 780097747 9,104 896,108 x 896,108 Royal Bk Scotland Group PLC SP ADR PREF S 780097739 11,907 1,094,437 x 1,094,437 Royal Bk Scotland Group PLC SP ADR PREF T 780097713 12,330 1,037,039 x 1,037,039 Rite Aid Corp COM 767754104 12,363 8,187,594 x 8,187,594 Strategic Hotels & Resorts Inc COM 86272T106 2,123 1,141,658 x 1,141,658 Suntrust Banks Inc COM 867914103 173,295 8,540,930 x 8,540,930 Hartford Financial Services Group COM 416515104 145,290 6,246,333 x 6,246,333 UAL Corp COM NEW 902549807 39,279 3,042,527 x 3,042,527 US Airways Group Inc COM 90341W108 12,552 2,593,472 x 2,593,472 Valassis Communications Inc COM 918866104 25,892 1,417,937 x 1,417,937 Virgin Media Inc *W EXP 99/99/999 92769L119 12 237,059 x 237,059 Wells Fargo & Co COM 949746101 296,890 11,000,000 x 11,000,000 Wells Fargo & Co PERP PFD CNV A 949746804 285,791 311,319 x 311,319 Willis Group Holdings Limited SHS G96655108 31,556 1,196,204 x 1,196,204 XL Capital Ltd Cl A CL A G98255105 17,771 969,498 x 969,498