David Tepper: Appaloosa’s Top 10 First Quarter Stock Holdings
Following is information on Appaloosa Management’s top 10 holdings as of the end of the first quarter of 2011:
- Citigroup Inc. (NYSE:C): Appaloosa Management held 76,616,856 shares of this company, valued at $338,647,000 on March 31st, 2011. About the company: Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers around the world. The Company’s services include investment banking, retail brokerage, corporate banking, and cash management products and services. Competitors to Watch: Bank of America (NYSE:BAC), Deutsche Bank (NYSE:DB), JPMorgan Chase (NYSE:JPM), HSBC (NYSE:HBC), Metlife (NYSE:MET), PNC (NYSE:PNC), U.S. Bancorp (NYSE:USB), Financials (NYSE:XLF) and Wells Fargo & Company (NYSE:WFC).
- Pfizer Inc. (NYSE:PFE): Appaloosa Management held 15,419,502 shares of this company, valued at $313,170,000 on March 31st, 2011. About the company: Pfizer Inc. is a research-based, global pharmaceutical company that discovers, develops, manufactures, and markets medicines for humans and animals. The Company’s products include prescription pharmaceuticals, non-prescription self-medications, and animal health products such as anti-infective medicines and vaccines. Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Merck & Co., Inc. (NYSE:MRK), GlaxoSmithKline plc (NYSE:GSK), Bristol Myers Squibb Co. (NYSE:BMY), Eli Lilly & Co. (NYSE:LLY), Abbott Laboratories (NYSE:ABT), Novartis AG (NYSE:NVS), Mylan Inc. (NASDAQ:MYL), Amgen, Inc. (NASDAQ:AMGN), and Sanofi-Aventis SA (NYSE:SNY)
- Hewlett-Packard Co (NYSE:HPQ): Appaloosa Management held 6,330,726 shares of this company, valued at $259,370,000 on March 31st, 2011. About the company: Hewlett-Packard Company provides imaging and printing systems, computing systems, and information technology services for business and home. The Company’s products include laser and inkjet printers, scanners, copiers and faxes, personal computers, workstations, storage solutions, and other computing and printing systems. Hewlett-Packard sells its products worldwide. Competitors to Watch: Dell Inc. (NASDAQ:DELL), Apple Inc. (NASDAQ:AAPL), Oracle Corporation (NASDAQ:ORCL), Microsoft Corporation (NASDAQ:MSFT), Cisco Systems, Inc. (NASDAQ:CSCO), Intl. Business Machines Corp. (NYSE:IBM), EMC Corporation (NYSE:EMC), Super Micro Computer, Inc. (NASDAQ:SMCI), RadiSys Corporation (NASDAQ:RSYS), and Silicon Graphics Intl. Corp (NASDAQ:SGI).
- Bank of America Corp (NYSE:BAC): Appaloosa Management held 17,215,849 shares of this company, valued at $229,487,000 on March 31st, 2011. About the company: Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.
- Goodyear Tire & Rubber Co. (NYSE:GT): Appaloosa Management held 15,248,003 shares of this company, valued at $228,415,000 on March 31st, 2011. About the company: The Goodyear Tire & Rubber Company develops, manufactures, distributes, and sells tires for most applications. The Company also manufactures and markets several lines of rubber and rubber-related chemicals and provides automotive repair services. Goodyear also retreads truck, aircraft, and heavy equipment tires. The Company provides its products and services worldwide.
- International Paper Company (NYSE:IP): Appaloosa Management held 5,738,512 shares of this company, valued at $173,188,000 on March 31st, 2011. About the company: International Paper Company produces and distributes printing paper, packaging, forest products, and chemical products. The Company operates specialty businesses in global markets as well as a broadly based distribution network. International Paper exports its products worldwide. Competitors to Watch: Clearwater Paper Corp (NYSE:CLW), P.H. Glatfelter Company (NYSE:GLT), Wausau Paper Corp. (NYSE:WPP), MeadWestvaco Corp. (NYSE:MWV), KapStone Paper and Packaging Corp. (NYSE:KS), Boise Inc. (NYSE:BZ), UPM-Kymmene Corp. (UPMKY), Buckeye Technologies Inc. (NYSE:BKI), Fibria Celulose S.A. (NYSE:FBR), and Domtar Corp. (NYSE:UFS).
- Macy’s Inc. (NYSE:M): Appaloosa Management held 6,712,625 shares of this company, valued at $162,848,000 on March 31st, 2011. About the company: Macy’s, Inc. operates department stores in the United States. The Company also operates direct mail catalog and electronic commerce subsidiaries. Macy’s retail stores sell a wide range of merchandise, including men’s, women’s and children’s apparel and accessories, cosmetics, home furnishings and other consumer goods. Competitors to Watch: Saks Incorporated (NYSE:SKS), J.C. Penney Company, Inc. (NYSE:JCP), Kohl’s Corporation (NYSE:KSS), Nordstrom, Inc. (NYSE:JWN), Dillard’s, Inc. (NYSE:DDS), Sears Holdings Corporation (NASDAQ:SHLD), The Bon-Ton Stores, Inc. (NASDAQ:BONT), Target Corporation (NYSE:TGT), Wal-Mart Stores, Inc. (NYSE:WMT), and The TJX Companies, Inc. (NYSE:TJX)
- Micron Technology Inc. (NASDAQ:MU): Appaloosa Management held 12,202,840 shares of this company, valued at $139,845,000 on March 31st, 2011. About the company: Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips, very fast static random access memory chips, Flash Memory, other semiconductor components, and memory modules.
- United Continental Holdings Inc. (NYSE:UAL): Appaloosa Management held 5,737,753 shares of this company, valued at $131,911,000 on March 31st, 2011. About the company: United Continental Holdings, Inc. is an airline holding company. The Company owns and operates airlines that transports persons, property and mail throughout the United States and abroad.
- Dean Foods Co. (NYSE:DF): Appaloosa Management held 13,119,145 shares of this company, valued at $131,191,000 on March 31st, 2011. About the company: Dean Foods Company is a food and beverage company that produces a full line of Company-branded and private label dairy and dairy-related products. The Company provides products such as milk and milk-based beverages, ice cream, half and half, whipping cream, sour cream, cottage cheese, yogurt, dips, and soy milk. Dean Foods also supplies pickles, juice, juice drinks, and water. Competitors to Watch: YoCream International, Inc (YOCM), Lifeway Foods, Inc. (NASDAQ:LWAY), Tofutti Brands Inc. (AMEX:TOF), Synutra Intl., Inc. (NASDAQ:SYUT), Groupe Danone SA (DANOY), Smart Balance, Inc. (NASDAQ:SMBL), Mead Johnson Nutrition CO (NYSE:MJN), Wimm-Bill-Dann Foods OJSC (NYSE:WBD), ConAgra (NYSE:CAG), SYSCO (NYSE:SYY), Tyson Foods (NYSE:TSN), and The Hain Celestial Group, Inc. (NASDAQ:HAIN)
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(Note that the following only pertains to the fund’s common equity holdings, and excludes any warrants, notes, options, or other convertible securities described in its 13F filing.)