Alpine Investment Management Ltd

CIK 0001964631 · Q2 2026

13F Equity AUM

$411.2M

+2.6% QoQ

Positions

-4 QoQ

AUM Rank

#5,541

Top 44%

Skill Alpha (FF)

-8.9%/yr^ns

No Clear Edge

Rank #8,005 · Top 96%

vs S&P -4.7%/yr (unadj.)

Quarters Tracked

~3 years

Portfolio Concentration

Top 5: 85.2%Top 10: 100.0%Top 20: 100.0%

YMM34.0%

PDD30.8%

LITE10.2%

NVDA5.3%

TME4.9%

PDD4.6%

LU4.5%

MOMO3.5%

QFIN2.2%

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

Sector Allocation

Technology49.5%

Consumer Cyclical35.5%

Communication Services8.4%

Financial Services6.7%

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

Position Sizing

Positions: 9Median: 4.91%Avg: 11.11%

0–0.5%

0(0.0%)

0.5–1%

0(0.0%)

1–3%

1(2.2%)

3–5%

4(17.5%)

5%+

4(80.3%)

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

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Portfolio Overlap

Shared: 0Unique: 9vs 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

New2Increased6Decreased1Exited6

New Positions

TME4.9%

+2.4M

QFIN2.2%

+568K

Increased

YMM34.0%

+6.2M(+56%)

MOMO3.5%

+2.2M(+958%)

PDD30.8%

+1.6M(+1661%)

LU4.5%

+1.5M(+12%)

NVDA5.3%

+89K(+435%)

LITE10.2%

+48K(+5031%)

Decreased

PDD4.6%

-5,000(-67%)

Exited

ALIBABA GROUP HLDG L…

-5,250

BABA

-523,270

SNDK

-825

JOYY

-65,547

Holdings

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