2026년 2월 18일 · Unknown · financial · 출처 Yahoo Finance
This article first appeared on GuruFocus.
Exploring the Latest 13F Filing and Tepper's Investment Strategy
David Tepper (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2025, providing insights into his investment moves during this period. David Alan Tepper is the founder of Appaloosa Management, a hedge fund investment firm based in Miami Beach, Florida. Tepper's interest in the stock market began in his youth, inspired by his father's trading activities in Pittsburgh. As the President and Founder of Appaloosa Management, Tepper has gained international acclaim for achieving some of the highest returns among Wall Street fund managers. He holds a Master of Science in Industrial Administration from Carnegie Mellon, earned in 1982. Appaloosa specializes in distressed debt investing, focusing on public equity and fixed income markets globally, including equities and debt of distressed companies, bonds, exchange warrants, options, futures, notes, and junk bonds.
Warning! GuruFocus has detected 2 Warning Signs with BABA. Is BABA fairly valued? Test your thesis with our free DCF calculator.David Tepper's Strategic Moves: A Closer Look at Micron Technology Inc.
Summary of New Buy
David Tepper (Trades, Portfolio) added a total of 2 stocks, among them:
The most significant addition was iShares MSCI South Korea ETF (EWY), with 1,875,000 shares, accounting for 2.63% of the portfolio and a total value of $182.29 million. The second largest addition to the portfolio was Ball Corp (NYSE:BALL), consisting of 1,200,000 shares, representing approximately 0.92% of the portfolio, with a total value of $63.56 million.
Key Position Increases
David Tepper (Trades, Portfolio) also increased stakes in a total of 12 stocks, among them:
The most notable increase was Micron Technology Inc (NASDAQ:MU), with an additional 1,000,000 shares, bringing the total to 1,500,000 shares. This adjustment represents a significant 200% increase in share count, a 4.12% impact on the current portfolio, with a total value of $428.12 million. The second largest increase was Meta Platforms Inc (NASDAQ:META), with an additional 230,000 shares, bringing the total to 600,000. This adjustment represents a significant 62.16% increase in share count, with a total value of $396.05 million.
Summary of Sold Out
David Tepper (Trades, Portfolio) completely exited 9 holdings in the fourth quarter of 2025, as detailed below:
Fiserv Inc (NASDAQ:FISV): David Tepper (Trades, Portfolio) sold all 925,000 shares, resulting in a -1.62% impact on the portfolio. Truist Financial Corp (NYSE:TFC): David Tepper (Trades, Portfolio) liquidated all 1,387,500 shares, causing a -0.86% impact on the portfolio.
Story Continues
Key Position Reduces
David Tepper (Trades, Portfolio) also reduced positions in 24 stocks. The most significant changes include:
Reduced Alibaba Group Holding Ltd (NYSE:BABA) by 1,312,069 shares, resulting in a -20.34% decrease in shares and a -3.18% impact on the portfolio. The stock traded at an average price of $162.54 during the quarter and has returned -1.45% over the past 3 months and 6.04% year-to-date. Reduced Whirlpool Corp (NYSE:WHR) by 1,590,000 shares, resulting in a -28.91% reduction in shares and a -1.69% impact on the portfolio. The stock traded at an average price of $73.74 during the quarter and has returned 29.55% over the past 3 months and 20.90% year-to-date.
Portfolio Overview
At the fourth quarter of 2025, David Tepper (Trades, Portfolio)'s portfolio included 39 stocks. The top holdings included 10.88% in Alibaba Group Holding Ltd (NYSE:BABA), 8.1% in Alphabet Inc (NASDAQ:GOOG), 7.26% in Amazon.com Inc (NASDAQ:AMZN), 6.18% in Micron Technology Inc (NASDAQ:MU), and 5.72% in Meta Platforms Inc (NASDAQ:META).
The holdings are mainly concentrated in 8 of the 11 industries: Technology, Consumer Cyclical, Communication Services, Industrials, Utilities, Healthcare, Financial Services, and Energy.
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