What happened
According to a Securities and Exchange Commission (SEC) filing dated Feb. 17, 2026, Appaloosa sold 1,590,000 shares of Whirlpool during the fourth quarter. The estimated transaction value was $117.38 million, calculated using the quarter’s average share price. The fund’s position value declined by $150.23 million over the quarter, reflecting both the share sale and market price changes.
What else to know
Appaloosa’s post-trade stake in Whirlpool represents 4.07% of its reportable AUM, down from 5.85% the previous quarter.
- Top holdings after the filing:
- Alibaba: $753.12 million (11.0% of AUM)
- Alphabet: $560.74 million (8.2% of AUM)
- Amazon: $503.05 million (7.3% of AUM)
- Micron Technology: $428.12 million (6.2% of AUM)
- Meta Platforms: $396.05 million (5.8% of AUM)
As of March 19, 2026, shares of Whirlpool were priced at $54.04, down 42.02% over the past year and trailing the S&P 500 by 59 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $15.53 billion |
| Net Income (TTM) | $340.00 million |
| Dividend Yield | 6.66% |
| Price (as of market close 2026-03-19) | $54.04 |
Company Snapshot
- Whirlpool manufactures and markets major home appliances, including refrigerators, freezers, laundry machines, dishwashers, and cooking appliances, primarily under the brands Whirlpool, Maytag, KitchenAid, and JennAir.
- The company generates revenue by selling appliances and related accessories through retailers, distributors, dealers, builders, and direct-to-consumer channels across global markets.
- Primary customers include large retail chains, independent dealers, builders, and end consumers in North America, EMEA, Latin America, and Asia.
Whirlpool is a leading global manufacturer of home appliances with a diversified product portfolio and strong brand recognition. The company leverages its scale and distribution network to reach a broad customer base, driving consistent revenue across multiple regions. Its strategy focuses on maintaining a robust presence in both developed and emerging markets.
What this transaction means for investors
After building a 5.5 million-share position in Whirlpool — good for a roughly 10% ownership stake in the company — David Tepper and Appaloosa have begun selling shares at a loss. Whirlpool looked like an intriguing value opportunity after its stock dropped 79% from its all-time high in 2021, but the cyclical stock has yet to show that the worst is behind it. Battling tariff uncertainty, soft consumer spending, and a $6 billion net debt balance against a market cap of only $3.5 billion, Whirlpool has already cut its dividend, yet it remains on shaky financial footing.
Making matters worse, the company recently raised $800 million in cash from a stock offering valued at roughly $69 per share. While this unfortunately necessary move helps in the short term with interest payments and restructuring, its timing is unfortunate given how much the shares are down. Following this offering, Appaloosa filed an SC 13D in February, selling another 717,000 shares of the stock, suggesting it may be concerned about this dilution.
Trading with an EV/EBITDA ratio of just 9 — despite EBITDA steadily declining — Whirlpool could prove to be a good value investment, but I’d only be willing to consider the stock once it shows some improvement. Management is guiding that like-for-like sales will grow by 5% in 2026, while EPS will be $7, and free cash flow will be $450 million. The Whirlpool brand certainly has to be worth something, but I would rather see some signs of progress before catching what could be a falling knife. I certainly understand Appaloosa’s hesitancy with the stock at the moment and will be watching closely to see what they do in the upcoming quarters.
Josh Kohn-Lindquist has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Micron Technology. The Motley Fool recommends Alibaba Group and Whirlpool. The Motley Fool has a disclosure policy.
