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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 | |
|---|---|---|---|---|---|---|
|
ALEX
51
DELISTED
Alexander & Baldwin
ALEX
| $4.71M | 0.31% |
+228,294
| New | +$3.97M |
|
|
FRGE
52
DELISTED
Forge Global Holdings
FRGE
| $4.37M | 0.29% |
+98,107
| New | +$3.32M |
|
|
PLYM
53
DELISTED
Plymouth Industrial REIT
PLYM
| $3.97M | 0.26% |
181,555
-13,144
| -7% | -$289K |
|
|
PCH
54
DELISTED
PotlatchDeltic
PCH
| $3.8M | 0.25% |
+95,600
| New | +$3.87M |
|
|
CSGS
55
DELISTED
CSG Systems International
CSGS
| $3.64M | 0.24% |
+47,500
| New | +$3.51M |
|
|
UDMY
56
DELISTED
Udemy
UDMY
| $3.33M | 0.22% |
+569,800
| New | +$3.32M |
|
|
SUNC
57
SunocoCorp LLC
SUNC
$3.64B
| $2.83M | 0.19% |
+57,376
| New | +$2.89M |
|
|
CIVI
58
DELISTED
Civitas Resources
CIVI
| $2.57M | 0.17% |
+94,700
| New | +$2.74M |
|
59
Qualcomm
QCOM
$176B
| $2.46M | 0.16% |
+14,403
| New | +$2.47M |
|
|
THS
60
DELISTED
Treehouse Foods
THS
| $2.24M | 0.15% |
+94,750
| New | +$2.07M |
|
|
EB
61
DELISTED
Eventbrite
EB
| $2.23M | 0.15% |
+500,000
| New | +$1.55M |
|
62
Axalta
AXTA
$8.17B
| $1.53M | 0.1% |
+47,400
| New | +$1.39M |
|
|
SMLR
63
DELISTED
Semler Scientific
SMLR
| $1.46M | 0.1% |
95,600
| – | – |
|
|
GENVR
64
Gen Digital Inc Contingent Value Rights
GENVR
| $1.45M | 0.1% |
329,465
-49,883
| -13% | -$255K |
|
65
IAMGOLD
IAG
$10.5B
| $1.15M | 0.08% |
+69,482
| New | +$979K |
|
66
Strive Inc
ASST
$1.05B
| $339K | 0.02% |
22,974
+8,643
| +60% | +$206K |
|
67
Getty Images
GETY
$183M
| $127K | 0.01% |
+94,500
| New | +$163K |
|
|
ALE
68
DELISTED
Allete
ALE
| – | – |
-520,018
| Closed | -$34.5M |
|
|
ARIS
69
DELISTED
Aris Water Solutions
ARIS
| – | – |
-474,609
| Closed | -$11.7M |
|
|
AVDX
70
DELISTED
AvidXchange
AVDX
| – | – |
-2,255,100
| Closed | -$22.4M |
|
|
CCRN
71
DELISTED
Cross Country Healthcare
CCRN
| – | – |
-770,029
| Closed | -$10.9M |
|
|
COOP
72
DELISTED
Mr. Cooper
COOP
| – | – |
-406,140
| Closed | -$86.6M |
|
73
Core Scientific
CORZ
$6.75B
| – | – |
-547,600
| Closed | -$9.82M |
|
|
CVAC
74
DELISTED
CureVac
CVAC
| – | – |
-2,295,422
| Closed | -$12.4M |
|
|
ETNB
75
DELISTED
89bio
ETNB
| – | – |
-529,800
| Closed | -$7.79M |
|
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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.