David Tepper
David Tepper
Investment Philosophy
David Tepper is one of the most successful hedge fund managers in history, known for generating extraordinary returns during periods of maximum fear. His greatest trade came in early 2009 when he bought massive positions in distressed bank stocks and bonds at the depth of the financial crisis, generating over $7 billion in profits in a single year.
Tepper’s philosophy combines fundamental analysis with a keen understanding of government policy and market psychology. He excels at identifying moments when markets have overpriced risk — when fear has driven valuations far below intrinsic value and policy responses create asymmetric upside.
His ability to remain calm and greedy when others are fearful, combined with his deep analytical framework for understanding credit markets, has made him one of the most feared and respected traders on Wall Street.
Current Portfolio
Source: SEC 13F Filing (Q4 2025)
| Ticker / Security Name | Shares (MM) | Δ Shares (%) | Value (Full $) | Portfolio (%) |
|---|---|---|---|---|
| SPY / SPDR S&P 500 ETF Trust (Call) | 3.00 | 0.00% | $611,670,000 | 12.20% |
| GM / General Motors Company | 12.59 | -2.33% | $428,030,000 | 8.54% |
| GOOG / Alphabet Inc. | 0.54 | +187.25% | $406,870,000 | 8.11% |
| DAL / Delta Air Lines, Inc. | 7.32 | +20.51% | $371,220,000 | 7.40% |
| HCA / HCA Healthcare, Inc. | 4.54 | +27.68% | $306,840,000 | 6.12% |
| WHR / Whirlpool Corporation | 1.61 | +42.45% | $237,180,000 | 4.73% |
| LUV / Southwest Airlines Co. | 4.29 | +162.33% | $184,830,000 | 3.69% |
| ALL / The Allstate Corporation | 2.92 | +367.30% | $181,360,000 | 3.62% |
| OC / Owens Corning | 3.36 | 0.00% | $158,010,000 | 3.15% |
| BKNG / Booking Holdings Inc. | 0.11 | +12.26% | $140,260,000 | 2.80% |
| AAPL / Apple Inc. | 1.26 | -3.44% | $133,050,000 | 2.65% |
| AY / Atlantica Sustainable Infrastructure | 6.30 | +121.60% | $121,600,000 | 2.43% |
| HUN / Huntsman Corporation | 8.04 | 0.00% | $91,390,000 | 1.82% |
| PFE / Pfizer Inc. | 2.41 | +77.87% | $77,870,000 | 1.55% |
| PPG / PPG Industries, Inc. | 0.75 | +74.23% | $74,230,000 | 1.48% |
| GT / The Goodyear Tire & Rubber Co. | 2.14 | -63.92% | $69,880,000 | 1.39% |
| NXPI / NXP Semiconductors N.V. | 0.80 | -65.13% | $67,400,000 | 1.34% |
| URI / United Rentals, Inc. | 0.77 | -8.15% | $55,570,000 | 1.11% |
| UAL / United Airlines Holdings, Inc. | 0.60 | +27.53% | $34,440,000 | 0.69% |
This is BMInsider PRO content
You’re reading a Deep Dive — our most in-depth research.
Unlock full access to all analyses, Smart Money breakdowns & more.
Unlock BMInsider PRO →