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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
Cap. Flow
-$217M
Cap. Flow %
-14.44%
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
BA icon
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
VRNT
101
DELISTED
Verint Systems
VRNT
– –
-455,100
Closed -$9.22M
VTLE
102
DELISTED
Vital Energy
VTLE
– –
-392,555
Closed -$6.63M
WNS
103
DELISTED
WNS Holdings
WNS
– –
-358,050
Closed -$27.3M
WOW
104
DELISTED
WideOpenWest
WOW
– –
-1,025,400
Closed -$5.29M
ZIMV
105
DELISTED
ZimVie
ZIMV
– –
-423,000
Closed -$8.01M
PHLT
106
DELISTED
Performant Healthcare Inc
PHLT
– –
-969,869
Closed -$7.5M
MTSR
107
DELISTED
Metsera Inc
MTSR
– –
-195,200
Closed -$10.2M
1 2 3 4
5

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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.