Alpine Investment Management Ltd

CIK 0001964631 · Q1 2026

13F Equity AUM

$400.8M

+4.3% QoQ

Positions

+3 QoQ

AUM Rank

#4,945

Top 40%

Skill Alpha (FF)

-8.3%/yr^ns

No Clear Edge

Rank #7,874 · Top 96%

vs S&P -7.8%/yr (unadj.)

Quarters Tracked

~3 years

Portfolio Concentration

Top 5: 87.9%Top 10: 98.8%Top 20: 100.0%

YMM22.9%

PDD19.1%

ALIBABA GROUP HLDG LTD16.4%

BABA16.4%

SNDK13.1%

LU5.8%

PDD2.4%

JOYY0.9%

META0.9%

NVDA0.9%

Others (3)1.2%

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

Sector Allocation

Consumer Cyclical37.9%

Technology37.7%

Unclassified16.4%

Financial Services5.8%

Communication Services2.2%

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

Position Sizing

Positions: 13Median: 2.40%Avg: 7.69%

0–0.5%

2(0.5%)

0.5–1%

4(3.4%)

1–3%

1(2.4%)

3–5%

0(0.0%)

5%+

6(93.7%)

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

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Portfolio Overlap

Shared: 12Unique: 1vs 20 funds

0.2%Low

Fund positions

7,299

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.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

0.3%

0.3%

0.2%

0.2%

VANGUARD CAPITAL MANAGEMENT LLC

0.3%

GEODE CAPITAL MANAGEMENT, LLC

0.2%

BANK OF AMERICA CORP /DE/

0.2%

FMR LLC

0.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.1%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New5Increased4Decreased4Exited2

New Positions

SNDK13.1%

+825

META0.9%

+6K

MU0.7%

+8K

MOMO0.3%

+233K

LITE0.2%

+950

Increased

LU5.8%

+4.3M(+53%)

YMM22.9%

+3.6M(+48%)

BABA16.4%

+384K(+277%)

ALIBABA GROUP HLDG L…16.4%

+3K(+91%)

Decreased

JOYY0.9%

-430,753(-87%)

PDD2.4%

-211,862(-69%)

NVDA0.9%

-144,900(-88%)

PDD19.1%

-850(-10%)

Exited

AMD

-1,250

-386,000

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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