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AAM
Alpine Associates Management Portfolio holdings
AUM
$1.6B
1-Year Est. Return
93.19%
This Fund
S&P 500
This Quarter
Est. Return
+18.13%
1 Year Est. Return
+93.19%
3 Year Est. Return
+366.27%
5 Year Est. Return
+1,301.74%
10 Year Est. Return
+22,525.34%
AUM
$1.5B
AUM Growth
-$153M
(-9.3%)
Cap. Flow
-$217M
Cap. Flow
% of AUM
-14.44%
Top 10 Holdings %
Top 10 Hldgs %
53.13%
Holding
107
New
40
Increased
12
Reduced
14
Closed
40
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NGD
New Gold Inc
NGD
|
+$70.5M |
| 2 |
AL
Air Lease Corp
AL
|
+$68.4M |
| 3 |
EXAS
Exact Sciences
EXAS
|
+$64.7M |
| 4 |
Boeing
BA
|
+$60.6M |
| 5 |
RNAM
Avidity Biosciences
RNAM
|
+$56M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VRNA
Verona Pharma
VRNA
|
+$123M |
| 2 |
K
Kellanova
K
|
+$108M |
| 3 |
SPR
Spirit AeroSystems
SPR
|
+$102M |
| 4 |
COOP
Mr. Cooper
COOP
|
+$86.6M |
| 5 |
MRUS
Merus
MRUS
|
+$78.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 25.91% |
| 2 | Healthcare | 18.41% |
| 3 | Technology | 16.19% |
| 4 | Communication Services | 14.01% |
| 5 | Financials | 7.86% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
CALL
Teck Resources
TECK
$32.4B
| $18.2M | 1.21% |
380,800
+42,100
| +12% | +$1.82M |
|
|
SEE
27
DELISTED
Sealed Air
SEE
| $17.7M | 1.18% |
+427,100
| New | +$16.5M |
|
|
HI
28
DELISTED
Hillenbrand
HI
| $17.4M | 1.16% |
+548,200
| New | +$16.9M |
|
29
Warner Bros
WBD
$66.2B
| $16.4M | 1.09% |
+570,000
| New | +$13.3M |
|
|
FOLD
30
DELISTED
Amicus Therapeutics
FOLD
| $13.5M | 0.9% |
+949,200
| New | +$9.33M |
|
|
JHG
31
DELISTED
Janus Henderson
JHG
| $12.4M | 0.82% |
+260,042
| New | +$11.5M |
|
|
REVG
32
DELISTED
REV Group
REVG
| $12.3M | 0.82% |
+202,491
| New | +$11.4M |
|
|
JAMF
33
DELISTED
Jamf
JAMF
| $12.2M | 0.81% |
+940,798
| New | +$11.4M |
|
|
AMWD
34
DELISTED
American Woodmark
AMWD
| $12.2M | 0.81% |
226,833
+17,409
| +8% | +$1.02M |
|
|
AVDL
35
DELISTED
Avadel Pharmaceuticals
AVDL
| $11.3M | 0.75% |
+525,550
| New | +$10.2M |
|
36
Rocket Companies
RKT
$37.4B
| $11.1M | 0.74% |
+574,254
| New | +$10.3M |
|
37
STAAR Surgical
STAA
$1.15B
| $10.8M | 0.72% |
466,607
-446,480
| -49% | -$11.5M |
|
|
SEMR
38
DELISTED
Semrush
SEMR
| $10.5M | 0.7% |
+879,994
| New | +$8.24M |
|
|
SHCO
39
DELISTED
Soho House & Co
SHCO
| $10.4M | 0.69% |
1,160,256
+64,057
| +6% | +$568K |
|
40
Veeco
VECO
$3.15B
| $10.1M | 0.67% |
+353,400
| New | +$10.5M |
|
|
ATXS
41
DELISTED
Astria Therapeutics
ATXS
| $9.54M | 0.63% |
+728,922
| New | +$8.71M |
|
|
SNV
42
DELISTED
Synovus
SNV
| $9.53M | 0.63% |
190,312
-13,788
| -7% | -$663K |
|
|
AHL
43
DELISTED
Aspen Insurance
AHL
| $9.37M | 0.62% |
252,487
+36,086
| +17% | +$1.33M |
|
|
CWAN
44
DELISTED
Clearwater Analytics
CWAN
| $9.29M | 0.62% |
+385,000
| New | +$7.71M |
|
45
Silicon Motion
SIMO
$9.07B
| $7.41M | 0.49% |
79,976
-167,474
| -68% | -$15.4M |
|
|
DVAX
46
DELISTED
Dynavax Technologies
DVAX
| $7.31M | 0.49% |
+475,000
| New | +$5.23M |
|
47
International Money Express
IMXI
$367M
| $6M | 0.4% |
390,333
-28,259
| -7% | -$424K |
|
48
DigitalBridge
DBRG
$2.95B
| $5.83M | 0.39% |
+380,000
| New | +$4.57M |
|
|
GES
49
DELISTED
Guess Inc
GES
| $5.4M | 0.36% |
322,209
-23,188
| -7% | -$392K |
|
|
TWO
50
Two Harbors Investment
TWO
$1.26B
| $4.98M | 0.33% |
+474,600
| New | +$4.75M |
|
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Alpine Associates Management's Q4 2025 Portfolio in Review
As of Q4 2025, Alpine Associates Management held 107 positions worth $1.5B, down 9.3% from $1.66B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Alpine Associates Management withdrew a net $217M in Q4 2025, closing 40 positions and reducing 14 holdings. Its most notable exit was Verona Pharma, an estimated $123M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 26% of assets, up from 22% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Alpine Associates Management opened a new position in New Gold Inc worth $81.6M.
- Alpine Associates Management's largest Q4 2025 buy was New Gold Inc: 9,363,161 shares worth $81.6M.
- Alpine Associates Management added most to Air Lease Corp in Q4 2025, an estimated $68.4M increase.
- Alpine Associates Management's biggest Q4 2025 reduction was Chart Industries, cutting an estimated $15.8M.
- Alpine Associates Management fully exited Verona Pharma in Q4 2025, selling an estimated $123M.
- Alpine Associates Management's ten largest holdings make up 53% of its $1.5B portfolio in Q4 2025.
- Alpine Associates Management opened 40 new positions and closed 40 in Q4 2025.
- Alpine Associates Management's portfolio value fell 9.3% quarter-over-quarter to $1.5B.
Based on Alpine Associates Management's 13F filing for Q4 2025, filed 5 Feb 2026.