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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
+21.54%
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
$1.66B
AUM Growth
-$218M
Cap. Flow
-$372M
Cap. Flow %
-22.46%
Top 10 Hldgs %
59.15%
Holding
98
New
48
Increased
11
Reduced
6
Closed
31

Top Buys

Rank Stock Value
1
NSC icon
Norfolk Southern
NSC
+$140M
2
VRNA
Verona Pharma
VRNA
+$121M
3
CYBR
CyberArk
CYBR
+$87.6M
4
GTLS
Chart Industries
GTLS
+$82.7M
5
MRUS
Merus
MRUS
+$54.4M

Top Sells

Rank Stock Value
1
HES
Hess
HES
+$212M
2
ANSS
Ansys
ANSS
+$157M
3
BPMC
Blueprint Medicines
BPMC
+$136M
4
AMED
Amedisys
AMED
+$108M
5
SWTX
SpringWorks Therapeutics
SWTX
+$54M

Sector Composition

Rank Sector Weight
1 Industrials 21.58%
2 Technology 18.47%
3 Healthcare 18.39%
4 Communication Services 13.91%
5 Financials 7.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CVE.WS
76
DELISTED
Cenovus Energy Inc Warrants
CVE.WS
– –
-127,258
Closed -$1.13M
DNB
77
DELISTED
Dun & Bradstreet
DNB
– –
-2,568,947
Closed -$23.4M
ESGR
78
DELISTED
Enstar Group
ESGR
– –
-88,132
Closed -$29.6M
ETWO
79
DELISTED
E2open Parent Holdings
ETWO
– –
-4,374,650
Closed -$14.1M
EVRI
80
DELISTED
Everi Holdings
EVRI
– –
-2,067,362
Closed -$29.4M
FARO
81
DELISTED
Faro Technologies
FARO
– –
-602,000
Closed -$26.4M
FL
82
DELISTED
Foot Locker
FL
– –
-755,450
Closed -$18.5M
GMS
83
DELISTED
GMS Inc
GMS
– –
-220,000
Closed -$23.9M
HES
84
DELISTED
Hess
HES
– –
-1,531,496
Closed -$212M
INZY
85
DELISTED
Inozyme Pharma
INZY
– –
-2,188,100
Closed -$8.75M
JNPR
86
DELISTED
Juniper Networks
JNPR
– –
-1,059,464
Closed -$42.3M
MAG
87
DELISTED
MAG Silver
MAG
– –
-2,545,149
Closed -$53.8M
NVEE
88
DELISTED
NV5 Global
NVEE
– –
-1,322,232
Closed -$30.5M
RDUS
89
DELISTED
Radius Recycling
RDUS
– –
-1,496,319
Closed -$44.4M
SAGE
90
DELISTED
Sage Therapeutics
SAGE
– –
-1,273,348
Closed -$11.6M
SGRY icon
91
Surgery Partners
SGRY
$2.03B
– –
-540,025
Closed -$12M
SKX
92
DELISTED
Skechers
SKX
– –
-358,900
Closed -$22.6M
STR
93
DELISTED
Sitio Royalties
STR
– –
-1,342,500
Closed -$24.7M
SWTX
94
DELISTED
SpringWorks Therapeutics
SWTX
– –
-1,149,000
Closed -$54M
TGI
95
DELISTED
Triumph Group
TGI
– –
-680,271
Closed -$17.5M
VERV
96
DELISTED
Verve Therapeutics
VERV
– –
-2,738,212
Closed -$30.8M
VIGL
97
DELISTED
Vigil Neuroscience
VIGL
– –
-1,094,900
Closed -$8.7M
WBA
98
DELISTED
Walgreens Boots Alliance
WBA
– –
-1,740,581
Closed -$20M
1 2 3
4

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Alpine Associates Management's Q3 2025 Portfolio in Review

As of Q3 2025, Alpine Associates Management held 98 positions worth $1.66B, down 12% from $1.87B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Alpine Associates Management withdrew a net $372M in Q3 2025, closing 31 positions and reducing 6 holdings. Its most notable exit was Hess, an estimated $212M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 22% of assets, up from 13% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Alpine Associates Management opened a new position in Norfolk Southern worth $151M.

  • Alpine Associates Management's largest Q3 2025 buy was Norfolk Southern: 502,610 shares worth $151M.
  • Alpine Associates Management added most to Chart Industries in Q3 2025, an estimated $82.7M increase.
  • Alpine Associates Management's biggest Q3 2025 reduction was Kellanova, cutting an estimated $9.28M.
  • Alpine Associates Management fully exited Hess in Q3 2025, selling an estimated $212M.
  • Alpine Associates Management's ten largest holdings make up 59% of its $1.66B portfolio in Q3 2025.
  • Alpine Associates Management opened 48 new positions and closed 31 in Q3 2025.
  • Alpine Associates Management's portfolio value fell 12% quarter-over-quarter to $1.66B.

Based on Alpine Associates Management's 13F filing for Q3 2025, filed 6 Nov 2025.