ACR Alpine Capital Research, LLC

CIK 1508822 · View on SEC EDGAR ↗

Portfolio value
$3.3B
#1,083 of 9,443 by 13F value · top 11.5%
Positions
38
As of
June 30, 2026

Portfolio value QoQ: -4.2% 13F does not disclose cash

Top 10 holdings weight
85.23%
Top 25 holdings weight
98.98%
Positions above 1%
17
Effective number of positions
11.9

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 45.2% Est. buys $1,532,080,768 · sells $1,626,978,776

Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 74.5% still held

New positions
5
Increased
18
Decreased
12
Closed
2
On this page

Sector breakdown

Healthcare
22.2%
Consumer products
11.4%
Technology
11.4%
Consumer Discretionary
10.6%
Logistics & Transportation
9.2%
Industrials
8.2%
Retail
5.2%
Financials
3.1%
Telecommunication
2.9%
Energy
1.9%
Communication Services
0.5%
Financial Services
0.2%
Real Estate
0.1%
Utilities
0.1%
Other/Unmapped
13.1%

Full portfolio 38 positions

Type Streak 8Q trend
JNJ Johnson & Johnson Common Stock $476,346,389 14.36% 1,875,601 $409,874,642 Up ×1
LEN Lennar Corporation Class A Common Stock $378,795,725 11.42% 4,186,051 $56,773,477 Up ×3
MSFT Microsoft Corporation - Common Stock $367,081,454 11.07% 984,080 $56,736,081 Up ×3
FDX FedEx Corporation Common Stock $306,392,784 9.24% 978,484 $258,229,412 Up ×1
ARW Arrow Electronics, Inc. Common Stock $268,803,233 8.10% 1,259,563 $204,436,523 Up ×1
ELV Elevance Health, Inc. Common Stock $254,804,222 7.68% 658,869 Up ×1
MGA Magna International, Inc. Common Stock $253,507,873 7.64% 3,860,918 $200,531,403 Up ×1
GBIL $247,926,649 7.47% 2,475,306 $50,026,251 Up ×1
DG Dollar General Corporation Common Stock $172,464,645 5.20% 1,498,259 $58,117,232 Up ×1
BRKB $100,958,298 3.04% 201,759 $12,826,151 Up ×2
BRKA $61,405,700 1.85% 82 $2,518,220
CVX Chevron Corporation Common Stock $58,864,451 1.77% 355,119 $-437,443,250 Down ×1
VOD Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares $52,938,987 1.60% 4,002,948 $-280,055,050 Down ×1
THO Thor Industries, Inc. Common Stock $49,208,605 1.48% 654,718 $-296,660,529 Down ×1
GM General Motors Company Common Stock $45,907,538 1.38% 595,583 $-213,326,222 Down ×1
JPM JP Morgan Chase & Co. Common Stock $45,595,105 1.37% 139,294 $-201,120,341 Down ×1
C Citigroup, Inc. Common Stock $39,534,361 1.19% 282,469 $-13,141,862 Down ×2
LBTYA Liberty Global Ltd. - Class A Common Shares $26,167,589 0.79% 2,301,459 $-231,892,264 Down ×1
SGOV iShares 0-3 Month Treasury Bond ETF $21,821,934 0.66% 216,767 $-4,487,268 Down ×1
LBTYK Liberty Global Ltd. - Class C Common Shares $12,856,019 0.39% 1,168,729 $-54,655,087 Down ×1
BCS Barclays PLC Common Stock $12,194,440 0.37% 454,000 $2,587,800
DELL Dell Technologies Inc. Class C Common Stock $10,874,949 0.33% 25,205 $248,024 Down ×1
IAC IAC Inc. - Common Stock $7,901,761 0.24% 171,182 $-485,565 Down ×1
CRK Comstock Resources, Inc. Common Stock $5,522,131 0.17% 370,116
SATS EchoStar Corporation - Common stock $5,304,086 0.16% 52,257 $3,840,711 Up ×1
JEF Jefferies Financial Group Inc. Common Stock $4,997,100 0.15% 99,982 $919,087 Up ×3
SMBC Southern Missouri Bancorp, Inc. - Common Stock $4,658,108 0.14% 61,122 $399,960 Down ×2
MRK Merck & Company, Inc. Common Stock (new) $4,576,399 0.14% 35,614 $4,058,069 Up ×1
FPH Five Point Holdings, LLC Class A Common Shares $4,266,149 0.13% 809,516 $433,290 Up ×3
LILAK Liberty Latin America Ltd. - Class C Common Stock $2,762,661 0.08% 354,642 $2,582,707 Up ×1
MGM MGM Resorts International Common Stock $2,554,058 0.08% 53,421 $611,070 Up ×2
TLN Talen Energy Corporation - Common Stock $2,497,690 0.08% 6,500
APG APi Group Corporation Common Stock $2,487,597 0.07% 58,739 $2,178,632 Up ×3
ZD Ziff Davis, Inc. - Common Stock $2,444,108 0.07% 46,670 $1,297,593 Up ×1
LENB $1,935,918 0.06% 21,823 $839,750 Up ×1
RPV $474,971 0.01% 4,173
Unknown issuer (CUSIP: 314352105) $229,973 0.01% 1,523 Up ×1
NFE New Fortress Energy Inc. - Class A Common Stock $43,572 0.00% 120,000 $-27,228

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
LEN $378,795,725 11.42% up ×3
MSFT $367,081,454 11.07% up ×3
JEF $4,997,100 0.15% up ×3
FPH $4,266,149 0.13% up ×3
APG $2,487,597 0.07% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
ELV $254,804,222 658,869 7.68%
CRK $5,522,131 370,116 0.17%
TLN $2,497,690 6,500 0.08%
RPV $474,971 4,173 0.01%
Unknown issuer (CUSIP: 314352105) $229,973 1,523 0.01%

Top movers (QoQ)

Security Action Shares Δ Value Δ
ARW Bought more +811K +$204.4M
MGA Bought more +2.9M +$200.5M
DG Bought more +535K +$58.1M
LEN Bought more +478K +$56.8M
MSFT Bought more +146K +$56.7M
GBIL Bought more +500K +$50.0M
C Trimmed -182K -$13.1M
BRKB Bought more +18K +$12.8M
SGOV Trimmed -45K -$4.5M
SATS Bought more +40K +$3.8M

10 positions hidden (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
RPV March 31, 2026 344,851 $35,643,799 No longer tracked
VGSH March 31, 2026 86,500 $5,080,145
SNREY June 30, 2025 104,817 $5,061,613 No longer tracked
DHIL June 30, 2026 16,165 $2,781,997 No longer tracked
CORZ Dec. 31, 2025 155,000 $2,780,700 30.9%
TLN June 30, 2025 11,076 $2,211,545 8.5%
RPV Sept. 30, 2025 21,062 $1,974,773 No longer tracked
HHH March 31, 2025 21,192 $1,630,089 -9.5%
KW June 30, 2026 144,531 $1,563,825 No longer tracked
FTAI June 30, 2025 12,500 $1,387,875 77.8%
CRK June 30, 2025 32,738 $665,891 -49.8%
ANGI June 30, 2025 27,478 $423,435 -69.9%
SLDP Dec. 31, 2025 85,000 $294,950 -43.2%
HES Sept. 30, 2025 511 $70,794 No longer tracked
EARN Sept. 30, 2025 11,978 $68,874 -18.1%
NINEQ Dec. 31, 2025 15,000 $9,479 No longer tracked