<img height="1" width="1" style="display:none;" alt="" src="https://px.ads.linkedin.com/collect/?pid=4496002&amp;fmt=gif">

New Listing – Investing Like Tepper – With a 15% Yield Attached

Picture of Bernie Thurston
VistaShares launches TPRY, a new ETF that clones David Tepper's Appaloosa Management portfolio and overlays an aggressive options income strategy targeting 15% annual distributions.

A new ETF launched today that combines two of the hottest trends in fund management into one product: celebrity investor cloning + high-yield options income.

Meet TPRY, the VistaShares Target 15 TEPRTantrum Contrarian Distribution ETF.

The concept: take David Tepper's Appaloosa Management 13F filings, build a portfolio of his top 20 disclosed equity positions, then layer an actively managed options overlay on top targeting 15% annual income, paid monthly.

Sound familiar? It should. VistaShares already did this with Warren Buffett (OMAH now $670M+ AUM), Stanley Druckenmiller (DRKY) and Bill Ackman (ACKY). OMAH was one of 2025's breakout ETF launches. Now they're asking: does the same formula work with Tepper's more volatile, macro-driven book?


What's interesting from a product design perspective:

  • The index is constructed by BITA from the most recent 13F filing, rules-based, quarterly rebalance

  • The options overlay is actively managed, targeting 1.25% per month in distributions

  • Tepper's portfolio is more concentrated and contrarian than Buffett’s, different risk profile, potentially different investor

  • The 13F lag is real: filings arrive 45 days after quarter end, so you're always working from historical positioning


The broader theme here is worth watching. The income ETF space has exploded, and the '13F clone + yield' format is becoming its own sub-genre. Whether it scales beyond the Buffett brand association is the key question for VistaShares in 2026.

TPRY listed on NYSE today. 

Bernie Thurston

Bernie loves data. Fortunately for him, London’s finance industry has been indulgent, providing him lots of benchmark data to play with and enjoy. Bernie’s journey began at Sky, where he designed the first interactive television and helped build a technical-based charity (ctt.org). He then hopped over to finance, and soon found himself at a start-up working on dividends and derivatives. Then, by nature of the fact that finance and technology have rapidly conjoined, he found himself working with Credit Suisse to build an index aggregation and distribution platform. Markit then acquired the start-up and Bernie battled his way up the greasy pole becoming the Managing Director of Markit’s equities division, with responsibility for index, ETF and Dividends. But the siren song of startups called once more. And Bernie was headhunted to rescue a failing index business. Over five years, he helped reverse the fortunes of DeltaOne Solutions, turning into a fighting force. So successful was the turn around that Markit came along and acquired this company as well. But Bernie still loved start-ups. To that end, he founded Ultumus, an ETF and benchmark data company. Ultumus aims to provide the best data in the most timely and consumable manner possible. With clients on both buy and sell side, when something happens in the index or ETF industry, Ultumus is the first to know.

Follow me on my website Follow me on LinkedIn

Comments

Related posts

Search New Listing – The spot ETF for a crypto asset should be the first product launched. Not the fourth.