APPALOOSA MANAGEMENT LP

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CIK 1006438

13F portfolio (2015-Q4)

$4.4B

Positions

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2015-Q3. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2015-Q4)

Holdings

Top 5

39.8%

Top 10

58.8%

Effective N

21.1

HHI

0.047

This quarter

26 new · 0 exit →

By sector

Unclassified24.8%

Industrials16.0%

Consumer Discretionary15.1%

Materials10.9%

Health Care9.3%

Communication Services9.2%

Information Technology5.8%

Financials4.1%

Other4.8%

By market cap

Large ($10–200B)51.0%

Unknown24.8%

Mega (>$200B)12.3%

Mid ($2–10B)11.3%

Small ($300M–2B)0.6%

By region

North America75.2%

Other24.8%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	24.78%	25
Airlines	13.41%	3
Automobiles & Components	9.72%	1
Software & IT Services	9.24%	1
Health Care Providers & Services	7.57%	2
Chemicals	6.42%	4
Household Durables	5.39%	1
Technology Hardware & Equipment	4.29%	2
Insurance	4.12%	1
Construction Materials	3.88%	2
Utilities	3.20%	1
Pharmaceuticals & Biotechnology	1.77%	1
Oil, Gas & Consumable Fuels	1.55%	3
Semiconductors & Semiconductor Equipment	1.53%	1
Machinery	1.31%	1
Commercial Services & Supplies	1.26%	1
Metals & Mining	0.55%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	GM	General Motors Co	Consumer Discretionary	9.72%
2	GOOG	Alphabet Inc.	Communication Services	9.24%
3	DAL	DELTA AIR LINES, INC.	Industrials	8.43%
4	HCA	HCA Healthcare, Inc.	Health Care	6.97%
5	WHR	WHIRLPOOL CORP /DE/	Consumer Discretionary	5.39%
6	LUV	SOUTHWEST AIRLINES CO	Industrials	4.20%
7	ALL	ALLSTATE CORP	Financials	4.12%
8		ENERGY TRANSFER PRTNRS L P	Unclassified	3.94%
9	OC	Owens Corning	Materials	3.59%
10	KMI	KINDER MORGAN, INC.	Utilities	3.20%

26/51 names classified · sector 75.2% of weight · industry 75.2% · mkt cap 75.2%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 11 quarters

IndustrialsDAL, UAL, AAL, JBLU, LUV · other

Consumer DiscretionaryGM, WHR, F, MGM, MHK · other

MaterialsGT, HUN, OC, EMN, EXP · other

FinancialsC, MET, AIG, PRU, ALL · other

Information TechnologyAAPL, NXPI, QCOM, AVGO, MU · other

Health CareHCA, PFE, CYH, THC

Communication ServicesGOOG, META, DIS, CMCSA, OMC · other

EnergyHAL, RIG, SLB, RRC, EQT · other

Utilities

Consumer Staples

UnclassifiedSPY, PRICELINE COM INC, POWERSHARES QQQ TRUST, Alphabet CL C, GOOGLE INC · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 75.2% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2015-Q4), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (26 classified)APPALOOSA MANAGEMENT LP centroid (Mid Core)

IndustrialsConsumer DiscretionaryMaterialsHealth CareCommunication ServicesInformation TechnologyFinancialsUtilitiesEnergy

Style box summary for APPALOOSA MANAGEMENT LP: centroid Mid Core. Heaviest cells: Large Value 18.5%, Mid Growth 12.3%, Large Growth 12.3%.

Classified: 75.2% of book weight (26/31 names) · unclassified 24.8%: , CTRA, KYN, SPY, TYG. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 51 positions (2015-Q4) · largest first · Δ vs 2015-Q3

#	Security	Shares	Value	Weight	Δ QoQ
1	GMGENERAL MTRS CO	12,585,294	$428M	9.7%	TRIM −2%
2	GOOGALPHABET INC	536,150	$407M	9.2%	NEW
3	DALDELTA AIR LINES INC	7,323,415	$371M	8.4%	ADD 21%
4	HCAHCA HEALTHCARE INC	4,537,063	$307M	7.0%	ADD 28%
5	WHRWHIRLPOOL CORP	1,614,903	$237M	5.4%	ADD 42%
6	LUVSOUTHWEST AIRLS CO	4,292,484	$185M	4.2%	ADD 162%
7	ALLALLSTATE CORP	2,920,987	$181M	4.1%	ADD 367%
8	ENERGY TRANSFER PRTNRS L P	5,143,082	$173M	3.9%	NEW
9	OCOWENS CORNING NEW	3,359,738	$158M	3.6%	HOLD
10	KMIKINDER MORGAN INC DEL	9,445,321	$141M	3.2%	NEW
11	PRICELINE COM INC	110,010	$140M	3.2%	ADD 12%
12	AAPLAPPLE INC	1,264,000	$133M	3.0%	TRIM −3%
13	ABENGOA YIELD PLC	6,303,713	$122M	2.8%	NEW
14	HD SUPPLY HLDGS INC	3,201,595	$96M	2.2%	ADD 41%
15	TERRAFORM POWER INC	7,600,000	$96M	2.2%	NEW
16	HUNHUNTSMAN CORP	8,037,950	$91M	2.1%	HOLD
17	PFEPFIZER INC	2,412,250	$78M	1.8%	NEW
18	PPGPPG INDS INC	751,154	$74M	1.7%	NEW
19	Alerian MLP ETF	5,925,778	$71M	1.6%	NEW
20	GTGOODYEAR TIRE & RUBR CO	2,139,050	$70M	1.6%	TRIM −64%
21	NXPINXP SEMICONDUCTORS N V	800,000	$67M	1.5%	TRIM −65%
22	WILLIAMS PARTNERS L P NEW	2,372,159	$66M	1.5%	NEW
23	IRINGERSOLL-RAND PLC	1,043,967	$58M	1.3%	ADD 51%
24	HPEHEWLETT PACKARD ENTERPRISE C	3,660,641	$56M	1.3%	NEW
25	URIUNITED RENTALS INC	766,046	$56M	1.3%	TRIM −8%
26	CHICAGO BRIDGE & IRON CO N V	1,391,088	$54M	1.2%	ADD 11%
27	EMNEASTMAN CHEM CO	700,333	$47M	1.1%	TRIM −11%
28	ALLERGAN PLC	150,000	$47M	1.1%	NEW
29	MYLAN NV	853,749	$46M	1.0%	ADD 82%
30	WMIH CORP	16,902,465	$44M	1.0%	HOLD
31	RRCRANGE RES CORP	1,606,452	$40M	0.9%	NEW
32	TRIUMPH GROUP INC NEW	897,061	$36M	0.8%	ADD 7%
33	UALUNITED AIRLS HLDGS INC	600,985	$34M	0.8%	ADD 28%
34	SOUTHWESTERN ENERGY CO	4,383,752	$31M	0.7%	NEW
35	CYHCOMMUNITY HEALTH SYS INC NEW	1,000,000	$27M	0.6%	NEW
36	CTRACOTERRA ENERGY INC	1,388,466	$25M	0.6%	NEW
37	FCXFREEPORT MCMORAN INC	3,557,460	$24M	0.5%	NEW
38	KYNKAYNE ANDERSON ENERGY INFRST	1,010,040	$17M	0.4%	NEW
39	EQTEQT CORP	319,823	$17M	0.4%	NEW
40	EXPEAGLE MATLS INC	215,133	$13M	0.3%	TRIM −72%
41	ARANTERO RESOURCES CORP	557,465	$12M	0.3%	NEW
42	TEEKAY OFFSHORE PARTNERS LP	1,000,000	$6M	0.1%	NEW
43	SPYSTATE STR SPDR S&P 500 ETF T	22,854	$5M	0.1%	HOLD
44	GENERAL MTRS CO WT EXP 071016	190,011	$5M	0.1%	HOLD
45	TEEKAY LNG PARTNERS L P	250,000	$3M	0.1%	NEW
46	GENERAL MTRS CO	190,011	$3M	0.1%	HOLD
47	TYGTortoise Energy Infrastructure	47,105	$1M	0.0%	NEW
48	CLEARBRIDGE MLP AND MIDSTRM	78,328	$1M	0.0%	NEW
49	NRG YIELD INC	66,190	$921,000	0.0%	NEW
50	NRG YIELD INC	51,989	$767,000	0.0%	NEW
51	KINDER MORGAN INC DEL WT EXP 052517	1,500,000	$90,000	0.0%	NEW

☆APPALOOSA MANAGEMENT LP