ACR Alpine Capital Research, LLC

CIK 0001508822 · Q2 2026

13F Equity AUM

$7.0B

+5.2% QoQ

Positions

+2 QoQ

AUM Rank

#671

Top 8%

Skill Alpha (FF)

+5.8%/yr^ns

No Clear Edge

Rank #646 · Top 8%

vs S&P +0.5%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 45.6%Top 10: 70.4%Top 20: 98.5%

GBIL19.2%

JNJ7.7%

CHV6.5%

LEN6.1%

MSFT6.0%

THO5.9%

FDX4.9%

GM4.9%

JPM4.5%

VOD4.5%

Others (28)29.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services26.2%

Consumer Cyclical21.4%

Healthcare11.9%

Technology11.1%

Communication Services9.8%

Energy6.7%

Industrials5.0%

Unclassified4.1%

Other3.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 38Median: 0.63%Avg: 2.63%

0–0.5%

19(1.9%)

0.5–1%

1(0.9%)

1–3%

3(5.9%)

3–5%

9(39.8%)

5%+

6(51.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 38vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New5Increased16Decreased14Exited3

New Positions

ELV4.0%

+738K

CRK0.1%

+546K

TLN0.0%

+7K

RPV0.0%

+4K

FEDEX FGHT HLDG CO I…0.0%

+2K

Increased

GBIL19.2%

+2.4M(+21%)

LBTYK1.4%

+2.0M(+28%)

THO5.9%

+624K(+13%)

DG2.8%

+605K(+54%)

LEN6.1%

+531K(+13%)

GM4.9%

+422K(+10%)

MSFT6.0%

+155K(+16%)

FPH0.1%

+60K(+5%)

SATS0.1%

+54K(+428%)

CHV6.5%

+32K(+1%)

Decreased

VOD4.5%

-2,835,851(-11%)

ARW4.4%

-2,120,432(-59%)

TRVC4.1%

-1,468,853(-41%)

0J7Q0.2%

-158,962(-35%)

LILAB0.0%

-61,575(-15%)

DELL0.4%

-58,088(-50%)

LBTYK3.8%

-49,652(-0%)

SGOV0.3%

-44,600(-17%)

MGA4.5%

-38,368(-1%)

FDX4.9%

-11,345(-1%)

Exited

DHIL

-23,754

-354,611

NINE ENERGY SERVICE …

-46,500

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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