13F-HR 1 a13f11q3.txt UNITED STATES SECURITIES AND EXCHANGE COMISSION WASHINGTON, DC 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 09/30/2011 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 11/14/2011 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: 50 Form 13F Information Table Value Total: 1,543,099,000 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 ------------------------------------- ---------------- -------------- --------- ---------- ---- AMR Corp COM 001765106 12,673 4,281,293 x 4,281,293 Apple Inc COM 037833100 14,530 38,119 x 38,119 Applied Materials Inc COM 038222105 42,894 4,144,385 x 4,144,385 Beazer Homes USA Inc COM 07556Q105 2,706 1,791,962 x 1,791,962 BP plc SPONSORED ADR 055622104 5,671 157,227 x 157,227 Calumet Specialty Products Partners LP UT LTD PARTNER 131476103 22,596 1,333,893 x 1,333,893 CF Industries Holdings Inc COM 125269100 66,630 539,996 x 539,996 Citigroup Inc COM 172967424 64,556 2,519,761 x 2,519,761 CVR Energy Inc COM 12662P108 133,384 6,309,568 x 6,309,568 Dana Holding Corp COM 235825205 485 46,173 x 46,173 Dean Foods Co COM 242370104 70,323 7,928,222 x 7,928,222 Delta Air Lines Inc COM NEW 247361702 21,423 2,856,389 x 2,856,389 E-Trade Financial Corp COM NEW 269246401 10,766 1,181,770 x 1,181,770 General Motors Co JR PFD CNV SRB 37045V209 1,359 38,740 x 38,740 General Motors Co *W EXP 07/10/201 37045V118 2,004 172,171 x 172,171 General Motors Co *W EXP 07/10/201 37045V126 1,365 172,171 x 172,171 Goodyear Tire & Rubber Co. COM 382550101 108,590 10,762,142 x 10,762,142 Goodyear Tire & Rubber Co. PFD CONV 382550309 7,790 200,000 x 200,000 Google Inc CL A 38259P508 26,393 51,311 x 51,311 The Hartford Financial Services Group *W EXP 06/26/201 416515120 12,966 1,347,800 x 1,347,800 HollyFrontier Corp COM 436106108 41,932 1,599,244 x 1,599,244 International Paper Company COM 460146103 77,108 3,316,483 x 3,316,483 KB Home COM 48666K109 5,147 878,409 x 878,409 KLA-Tencor Corp COM 482480100 39,602 1,034,534 x 1,034,534 Lam Research Corp COM 512807108 34,395 905,616 x 905,616 Macy's Inc COM 55616P104 86,502 3,286,543 x 3,286,543 Masco Corp COM 574599106 15,230 2,139,024 x 2,139,024 Micron Technology Inc. COM 595112103 44,279 8,785,444 x 8,785,444 Microsoft Corp COM 594918104 42,610 1,711,926 x 1,711,926 MPG Office Trust Inc COM 553274101 9,552 4,526,862 x 4,526,862 Mueller Water Products Inc. COM 624758108 26,170 10,552,356 x 10,552,356 Navistar International Corp COM 63934E108 17,120 532,994 x 532,994 Owens Corning *W EXP 10/30/201 690742127 10 7,544 x 7,544 PulteGroup Inc COM 745867101 4,407 1,115,812 x 1,115,812 Royal Bk Scotland Group PLC SP ADR L RP PF 780097788 11,513 720,000 x 720,000 Royal Bk Scotland Group PLC SP ADR PREF M 780097796 14,439 1,350,696 x 1,350,696 Royal Bk Scotland Group PLC ADR PREF SER N 780097770 35,569 3,352,443 x 3,352,443 Royal Bk Scotland Group PLC ADR PREF SHS Q 780097754 18,130 1,594,519 x 1,594,519 Royal Bk Scotland Group PLC SP ADR PREF S 780097739 24,320 2,189,014 x 2,189,014 Royal Bk Scotland Group PLC SP ADR PREF T 780097713 23,040 1,912,014 x 1,912,014 SuperMedia Inc COM 868447103 449 289,764 x 289,764 Temple-Inland Inc COM 879868107 12,025 383,336 x 383,336 Teradyne Inc COM 880770102 18,320 1,663,910 x 1,663,910 Tesoro Corp COM 881609101 21,503 1,104,424 x 1,104,424 The Mosaic Company COM 61945C103 36,091 737,000 x 737,000 The Ryland Group Inc COM 783764103 1,441 135,268 x 135,268 United Continental Holdings Inc. COM 910047109 77,738 4,011,253 x 4,011,253 US Airways Group Inc COM 90341W108 51,101 9,291,039 x 9,291,039 Valero Energy Corp COM 91913Y100 98,836 5,558,808 x 5,558,808 Western Refining Inc COM 959319104 25,417 2,039,872 x 2,039,872