Tepper’s Fancies: A Dividend Hunter’s Musings

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David Tepper, a name whispered with a mixture of awe and, frankly, a touch of envy in certain circles, has once again deigned to reveal a sliver of his portfolio. Appaloosa Management, his vessel of financial navigation, has filed its quarterly Form 13F – a document, let us not forget, mandated by the Securities and Exchange Commission, a bureaucratic behemoth that demands accounting of every kopeck, every share. It’s a ritual, really, a modern-day offering to the gods of capital. One wonders if the SEC’s auditors dream of balance sheets, or merely of a long, uninterrupted nap.

Tepper’s movements, as always, are observed with the intensity usually reserved for divining the future from tea leaves. He has, predictably, been dabbling in the realm of Artificial Intelligence, a field currently experiencing the manic energy of a fever dream. It’s all very well and good, this pursuit of the digital mind, but one can’t help but suspect it’s a distraction from the rather more pressing matter of actual, tangible dividends. Still, let us examine his choices, shall we? A hunter must know the habits of his prey, even if that prey is a phantom built of silicon and code.

1. Alphabet

Alphabet (GOOG 1.88%) (GOOGL 1.76%), a titan reborn, occupies a significant portion of Tepper’s affections. A nearly 29% increase in holdings suggests a belief in its resurgence, a rather astute observation, if I may say so. The company, once lagging in the generative AI race, now strides forward with a renewed vigor. It’s a curious thing, this corporate resurrection. One moment a behemoth stumbling in the dark, the next a sleek predator. The dividends, while not exorbitant, are… acceptable. A reasonable yield for a company attempting to play God with algorithms.

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2. Micron

Micron (MU 3.20%), purveyor of memory chips, is a more intriguing case. A commoditized market, one might say, yet the insatiable appetite of AI firms for data centers has created a temporary reprieve from the usual price wars. All the high-end digital memory is spoken for, a situation that allows Micron to inflate prices with the audacity of a seasoned monopolist. Tepper tripled his stake, a move that has proven spectacularly successful. One imagines him counting the profits with a smile as cold and calculating as a winter frost. A truly admirable feat of financial engineering, even if it relies on the temporary scarcity of a fundamental component.

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3. Meta Platforms

Meta Platforms (META +0.47%), ah, the ever-enigmatic Meta. Tepper increased his position by 62%, a gamble that, as of late, has yielded less fruit than a barren orchard. The market, it seems, is growing weary of Meta’s AI spending spree, which currently resembles a lavish party with no guests. The stock has suffered, a testament to the fact that even the most powerful empires can crumble under the weight of their own ambition. A cautionary tale, perhaps, for those who believe that throwing money at a problem will magically solve it. The dividends are… modest, shall we say. A pittance compared to the sums being poured into the digital void.

4. Taiwan Semiconductor

Taiwan Semiconductor (TSM 2.86%) is a sensible investment, a bastion of logic in a world gone mad. The company manufactures the chips that power everything, from smartphones to AI servers. A clear beneficiary of the current tech boom, it’s a safe bet, a reliable source of income. Tepper increased his stake, a prudent move. It’s the kind of investment that doesn’t inspire poetry, but it does inspire confidence. And, crucially, it pays a dividend, a tangible reward for patience and foresight.

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5. Microsoft

Finally, Microsoft (MSFT +0.26%). Tepper only modestly increased his position, a mere 8%. However, I suspect a more substantial increase is brewing. The stock, inexplicably, has suffered a recent sell-off, a temporary aberration that presents a rare opportunity. It’s trading at a valuation lower than it has seen in some time, a veritable bargain. One can almost hear the vultures circling, waiting to swoop in and snatch up the shares. A strong buy, indeed. And, let us not forget, Microsoft pays a dividend, a steady stream of income that will soothe the soul and fill the coffers.

I suspect that when the next set of 13F filings emerges, we will discover that Tepper and Appaloosa have indeed loaded up on Microsoft. A wise move, a prudent investment, and a testament to the enduring power of a well-chosen dividend stock. For in the end, it is not the fleeting excitement of growth stocks that sustains us, but the steady, reliable rhythm of income. It is the dividends, my friends, that truly matter.

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2026-02-27 16:23