VistaShares Introduces TPRY, the VistaShares Target 15™ TEPRTantrum Contrarian Distribution ETF (TPRY)
New ETF is designed to mimic the publicly available holdings of David Tepper’s Appaloosa Management, L.P. while targeting high monthly income
BOSTON, Feb. 26, 2026 (GLOBE NEWSWIRE) -- VistaShares, an innovative asset manager aiming to redefine thematic exposures and income strategies, today announced the launch of the VistaShares Target 15™ TEPRTantrum Contrarian Distribution ETF (TPRY).
TPRY is the latest addition to VistaShares’ “Legends + Income” suite of ETFs and, like the other funds in this part of the VistaShares lineup, is built around both a core equity portfolio and a data-driven options investment strategy.
The fund seeks to generate cash distributions based on a target annual distribution level of approximately 15%, primarily through an options-based income strategy, while providing core equity exposure to a concentrated portfolio of the 20 top publicly-available U.S.-listed stocks among the holdings of Appaloosa Management L.P., the private investment firm founded by David Tepper, well known for implementing opportunistic strategies incorporating both macroeconomic and fundamental analysis.
The fund’s equity portfolio is built around the BITA VistaShares TEPRTantrum Select Index, which tracks the top 20 securities, by weight, disclosed in the most recent 13F filings of Appaloosa Management. The index is constructed by BITA GmbH and rebalanced quarterly using a transparent, rules-based methodology.
“We’re thrilled to be adding TPRY to this suite of VistaShares ETFs,” said Adam Patti, CEO of VistaShares. “David Tepper and the Appaloosa team are well known for making bold, decisive moves when fear starts to dominate the markets. Their approach, combined with the income TPRY’s options overlay strategy is designed to deliver, can provide a powerful contrarian tool for investors looking to truly diversify both the equity and income sleeves of their portfolios.”
TPRY joins the VistaShares Target 15™ Berkshire Select Income ETF (OMAH), the VistaShares Target 15™ ACKtivist Distribution ETF (ACKY), and the VistaShares Target 15™ DRUKMacro Distribution ETF (DRKY) in providing investors with equity exposures mimicking those of some of the legends in asset management, plus the opportunity to access high monthly income.
For more information on the VistaShares Target 15™ TEPRTantrum Contrarian Distribution ETF (NYSE: TPRY), please visit https://www.vistashares.com, and follow the firm on LinkedIn or X.
About VistaShares
At VistaShares, we strive to deliver innovative investment solutions for today’s investors, helping them navigate evolving market opportunities with confidence. VistaShares ETFs are actively managed by industry and investment experts, offering two distinct strategies. Our Pure Exposure™ growth equity ETFs target technology-driven economic Supercycles® that we believe are poised for significant growth. Additionally, our Target 15™ option-income ETFs are designed to generate high monthly income while complementing a core equity portfolio.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (844) 875-2288 or visit www.VistaShares.com. Read the prospectus or summary prospectus carefully before investing.
Investments involve risk, including the loss of principal.
Fund Specific Disclosures:
Important Information:
Income ETFs: VistaShares Target 15™ TEPRTantrum Contrarian Distribution ETF
Index / Strategy Risks. The Index’s holdings are derived from publicly available data, which may be delayed relative to the then current portfolio of David Tepper or Appaloosa Management. Consequently, the Fund’s holdings, which are based on the Index, may not accurately reflect David Tepper or Appaloosa Management’s most recent publicly disclosed investment positions and may deviate substantially from its actual current hedge fund portfolio. This ETF and VistaShares or its partners have no affiliation with David Tepper or Appaloosa Management. The equity securities represented in the Index are subject to a range of risks, including, but not limited to, fluctuations in market conditions, increased competition, and evolving regulatory environments, all of which could adversely affect their performance.
BITA Index Definition: The equity portfolios of each of the VistaShares TEPRTantrum Contrarian Select ETF and VistaShares Target 15 TEPRTantrum Contrarian Distribution ETF is generally invested in the holdings of the BITA VistaShares TEPRTantrum Select Index (the Index). The Index is owned, calculated, administered, and disseminated by BITA GmbH (BITA or the Index Provider), which also serves as the Index administrator. The Index’s initial universe includes each U.S.-listed equity holding of Appaloosa according to its most recent Form 13F filings.
The Index is constructed by BITA using a rules based methodology that identifies the top 20 U.S. listed equity securities, to the extent available, as measured by their weight within Appaloosa’s portfolio, as publicly disclosed in its most recent 13F filing, which generally will reflect Appaloosa’s holdings from the prior fiscal quarter. Companies that meet the criteria described above are included in the Index. The Index is generally expected to be comprised of between 10 and 20 constituents for this ETF.
Focused Portfolio Risk. The Fund TPRY will hold a relatively focused portfolio that may contain exposure to the securities of fewer issuers than the portfolios of other ETFs. Holding a relatively concentrated portfolio may increase the risk that the value of the Fund could go down because of the poor performance of one or a few investments.
Options Contracts. The use of options contracts in this TPRY exchange traded fund involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. In exchange traded funds, the prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.
Equity Market Risk. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from specific issuers. The equity securities held in the Fund’s portfolio may experience sudden, unpredictable drops in value or long periods of decline in value.
U.S. Government and U.S. Agency Obligations Risk. The Fund may invest in securities issued by the U.S. government or its agencies or instrumentalities. U.S. Government obligations include securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies or instrumentalities, such as the U.S. Treasury.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions. Newer Sub Adviser Risk. VistaShares is a recently formed entity and has limited experience with managing an exchange traded fund, which may limit the Sub Adviser’s effectiveness.
High Monthly Income Disclosure: There is no guarantee of how the Fund will perform in the future. There is no assurance the Fund will make a distribution in any given month and the following may vary greatly. 30 Day SEC Yield: The 30 Day SEC Yield represents net investment income, which excludes option income, earned by the Fund over the 30 Day period ended at the most recent month end, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30 Day period.
Distribution Rate: The annual rate an investor would receive if the most recent fund distribution remained the same going forward. The Distribution Rate represents a single distribution from the Fund and is not a representation of the Fund’s total return. The Distribution Rate is calculated by multiplying the most recent distribution by 12 in order to annualize it, and then dividing by the Fund’s NAV.
The Fund may not achieve its investment objective and there is a risk that you could lose all of your money invested in the Fund.
By writing covered calls the Fund may limit its potential gains in exchange for premium income.
Distribution Risk – there is no assurance that the Fund will make a distribution in any given month. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. Additionally, monthly distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.
Concentration Risk. The Fund’s investments will be concentrated in an industry or group of industries to approximately the same extent as the Index is so concentrated. In such event, the value of Shares may rise and fall more than the value of shares that invest in securities of companies in a broader range of industries.
● Broadline Retail Industry Risk. Securities of companies in the broadline retail industry can be significantly affected by the performance of the domestic and international economy, consumer confidence and spending, intense competition, changes in demographics, and changing consumer tastes and preferences. In addition, the broadline retail industry is highly competitive and a company’s success can be tied to its ability to anticipate changing consumer tastes.
Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (cleared derivatives). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (clearing members) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members. In cleared derivatives positions, the Fund will make payments (including margin payments) to and receive payments from a clearing house through their accounts at clearing members.
Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.
Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes.
Swap Agreements. The use of swap transactions is a highly specialized activity, which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. Whether the Fund will be successful in using swap agreements to achieve its investment goal depends on the ability of the Adviser to structure such swap agreements in accordance with the Fund’s investment objective and to identify counterparties for those swap agreements. Additionally, any financing, borrowing or other costs associated with using swap transactions may also have the effect of lowering the Fund’s return.
Economic and Market Risk. The Fund is subject to the risk that the securities markets will move down, sometimes rapidly and unpredictably, based on overall economic conditions and other factors, which may negatively affect the Fund’s performance. Factors that affect markets in general, including geopolitical, regulatory, market and economic developments and other developments that impact specific economic sectors, industries, companies and segments of the market, could adversely impact the Fund’s investments and lead to a decline in the value of your investment in the Fund.
Costs of Buying or Selling Shares. Due to the costs of buying or selling shares in this ETF, including brokerage commissions imposed by brokers and bid ask spreads, frequent trading of Shares may significantly reduce investment results and an investment in Shares may not be advisable for investors who anticipate regularly making small investments.
Focused Portfolio Risk. The Fund will hold a relatively focused portfolio that may contain exposure to the securities of fewer issuers than the portfolios of other ETFs. Holding a relatively concentrated portfolio may increase the risk that the value of the Fund could go down because of the poor performance of one or a few investments.
Foreign Securities Risk. Investments in securities or other instruments of non U.S. issuers involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies. Financial markets in foreign countries often are not as developed, efficient, or liquid as financial markets in the United States, and therefore, the prices of non U.S. securities and instruments can be more volatile.
High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses. Frequent trading may also cause adverse tax consequences for investors in the Fund due to an increase in short term capital gains.
Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline. Management Risk. The Fund is subject to management risk because it is an actively managed portfolio. The Fund’s sub adviser will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that the Fund will meet its investment objective.
NAV Decline Risk Due to Distributions. When the Fund makes a distribution, the Fund’s NAV will typically drop by the amount of the distribution on the related ex dividend date. The repeated payment of distributions by the Fund, if any, may result in a decline in the Fund’s NAV and trading price over time. As a result, an investor may suffer losses to their investment. New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions. Newer Sub Adviser Risk. VistaShares is a recently formed entity and has limited experience with managing an exchange traded fund, which may limit the Sub Adviser’s effectiveness.
Non-Diversification Risk. Because the Fund is non diversified, it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.
Tax Risk. The Fund intends to elect and to qualify each year to be treated as a RIC under Subchapter M of the Code. As a RIC, the Fund will not be subject to U.S. federal income tax on the portion of its net investment income and net capital gain that it distributes to Shareholders, provided that it satisfies certain requirements of the Code. If the Fund does not qualify as a RIC for any taxable year and certain relief provisions are not available, the Fund’s taxable income will be subject to tax at the Fund level and to a further tax at the shareholder level when such income is distributed.
TPRY is not affiliated with Appaloosa Management L.P. or with David Tepper.
Foreside Fund Services, LLC, distributor.
Media Contact
Chris Sullivan
Craft & Capital
chris@craftandcapital.com
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
