Alpine Investment Management Ltd

CIK 1964631 · View on SEC EDGAR ↗

Portfolio value
$411.2M
#4,293 of 9,443 by 13F value · top 45.5%
Positions
9
As of
June 30, 2026

Portfolio value QoQ: +2.6% 13F does not disclose cash

Top 10 holdings weight
100.00%
Top 25 holdings weight
100.00%
Positions above 1%
9
Effective number of positions
4.3

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

Turnover Q2 2026: 18.66% Est. buys $291,632,420 · sells $75,751,186

Median holding: 2.0 quarters Tracked Q4 2024–Q2 2026 · 28.1% still held

New positions
3
Increased
6
Decreased
0
Closed
4
On this page

Performance vs S&P 500

Tracked Q4 2024–Q2 2026
+12.7%
S&P 500 total return (same window)
+28.1%
Excess return
-15.4%

Annualized: +8.3% · S&P 500: +18.0%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 100.0% · Options excluded: 54.1%

Sector breakdown

Industrials
34.0%
Retail
30.8%
Communications
10.2%
Communication Services
8.4%
Financial Services
6.7%
Technology
5.3%
Other/Unmapped
4.6%

Full portfolio 9 positions

Type Streak 8Q trend
YMM Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 Class A Ordinary Shares) $139,748,351 33.99% 17,210,388 $48,033,351 Up ×3
PDD PDD Holdings Inc. - American Depositary Shares $126,746,848 30.82% 1,661,600 $117,107,596 Up ×1
LITE Lumentum Holdings Inc. - Common Stock $41,826,135 10.17% 48,745 $41,158,513 Up ×1
NVDA NVIDIA Corporation - Common Stock $21,929,864 5.33% 109,600 $18,354,664 Up ×1
TME Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares $20,191,953 4.91% 2,418,198 Up ×1
Unknown issuer (CUSIP: 722304902) $19,070,000 4.64% 2,500 Up ×1
LU Lufax Holding Ltd American Depositary Shares, each representing two (2) Ordinary Shares $18,400,780 4.47% 13,939,985 $-4,794,700 Up ×3
MOMO Hello Group Inc. - American Depositary Shares $14,306,860 3.48% 2,466,700 $12,963,432 Up ×1
QFIN Qfin Holdings, Inc. - American Depositary Shares $8,976,618 2.18% 567,781 Up ×1

Conviction holdings

Positions increased for 3+ consecutive quarters.

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

Security Value % of portfolio Streak
YMM $139,748,351 33.99% up ×3
LU $18,400,780 4.47% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
TME $20,191,953 2,418,198 4.91%
Unknown issuer (CUSIP: 722304902) $19,070,000 2,500 4.64%
QFIN $8,976,618 567,781 2.18%

Top movers (QoQ)

Security Action Shares Δ Value Δ
YMM Bought more +6.2M +$48.0M
LU Bought more +1.5M -$4.8M

4 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
PDD Sept. 30, 2025 900,000 $94,194,000 -32.9%
BABA June 30, 2026 523,270 $65,649,454 27.3%
TSM June 30, 2025 275,000 $45,650,000 85.5%
PDD March 31, 2025 400,000 $38,796,000 -25.0%
MU March 31, 2025 325,000 $27,352,000 1033.2%
AGX Dec. 31, 2025 60,000 $16,203,000 65.8%
CIEN March 31, 2025 150,000 $12,721,500 561.2%
BABA March 31, 2025 125,000 $10,598,750 -7.6%
BEKE March 31, 2025 550,000 $10,131,000 -14.5%
MOMO June 30, 2025 1,551,200 $9,788,072 -32.1%
ZGN Sept. 30, 2025 850,000 $7,267,500 46.9%
DECK Sept. 30, 2025 65,000 $6,699,550 -11.4%
WB March 31, 2026 386,000 $3,944,920 -19.1%
JOYY June 30, 2026 65,547 $3,827,289 11.7%
META June 30, 2026 6,420 $3,673,075 -2.6%
MU June 30, 2026 7,700 $2,601,368 -14.7%
EDU March 31, 2025 10,000 $641,800 16.6%
WB June 30, 2025 2,675 $25,332 -25.8%