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Livermore
Livermore
ZHEN

Alpine Investment Management Ltd

SEC CIK
0001964631
Latest filing
Aug 13, 2026

The latest 13F from Alpine Investment Management Ltd covers Q2 2026 (filed Aug 13, 2026): 9 long positions worth $411.2M. The top 10 holdings make up 100.0% of the portfolio, and the largest is Full Truck Alliance Co. Ltd. (YMM) at 34.0%. Livermore has 16 filings on Form 13F from this institution, going back to Q4 2022.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$48.2M
Added
6
Est. +$243.4M
Reduced
0
Sold out
4
Est. −$75.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. YMMFull Truck Alliance Co. Ltd.
    34.0%$139.7MHistory
  2. PDDPDD Holdings Inc.
    30.8%$126.7MHistory
  3. LITELumentum Holdings Inc.
    10.2%$41.8MHistory
  4. NVDANVIDIA Corp
    5.3%$21.9MHistory
  5. TMETencent Music Entertainment Group
    4.9%$20.2MHistory

Share of portfolio

Top 5 holdings and the other 4 positions, by share of portfolio value

  1. YMM34.0%
  2. PDD30.8%
  3. LITE10.2%
  4. NVDA5.3%
  5. TME4.9%
  6. Other 4 positions14.8%

Biggest buys

New and added positions, by estimated amount bought

  1. PDDPDD Holdings Inc.
    +$119.6MAddedHistory
  2. YMMFull Truck Alliance Co. Ltd.
    +$50.0MAddedHistory
  3. LITELumentum Holdings Inc.
    +$41.0MAddedHistory
  4. TMETencent Music Entertainment Group
    +$20.2MNewHistory
  5. Pinduoduo Inc722304902
    +$19.1MNew

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. PDDPDD Holdings Inc.
    +26.14 pp4.7% → 30.8%History
  2. LITELumentum Holdings Inc.
    +9.85 pp0.3% → 10.2%History
  3. TMETencent Music Entertainment Group
    +4.91 pp0.0% → 4.9%History
  4. Pinduoduo Inc722304902
    +4.64 pp0.0% → 4.6%
  5. NVDANVIDIA Corp
    +3.60 pp1.7% → 5.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BABAAlibaba Group Holding Ltd
    −$65.6MSold outHistory
  2. JOYYJOYY Inc.
    −$3.83MSold outHistory
  3. METAMeta Platforms, Inc.
    −$3.67MSold outHistory
  4. MUMicron Technology Inc
    −$2.60MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. BABAAlibaba Group Holding Ltd
    −31.89 pp31.9% → 0.0%History
  2. JOYYJOYY Inc.
    −1.86 pp1.9% → 0.0%History
  3. METAMeta Platforms, Inc.
    −1.78 pp1.8% → 0.0%History
  4. MUMicron Technology Inc
    −1.26 pp1.3% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$411.2M
+$205.3M (+99.7%) vs. prior quarter
Positions
9
−1 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
24.6%
Q2 2026, one quarter
Average holding period
3.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2022), so positions held before then are understated.

13F filings by quarter

15 quarters, going back to Q4 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $477.8M (Q1 2023)

Q4 2022: $368.7MQ1 2023: $477.8MQ2 2023: $340.0MQ3 2023: $274.6MQ4 2023: $244.3MQ1 2024: $304.0MQ2 2024: $260.3MQ3 2024: $150.7MQ4 2024: $156.2MQ1 2025: $107.6MQ2 2025: $209.0MQ3 2025: $118.9MQ4 2025: $222.6MQ1 2026: $205.9MQ2 2026: $411.2M
Q4 2022Q2 2026
13F filings of Alpine Investment Management Ltd by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 20269$411.2MYMMPDDLITEvs. Q1 2026SEC
Q1 2026May 15, 202610$205.9MYMMBABALUvs. Q4 2025SEC
Q4 2025Feb 13, 20267$222.6MYMMPDDJOYYvs. Q3 2025SEC
Q3 2025Nov 13, 20254$118.9MYMMJOYYLUvs. Q2 2025SEC
Q2 2025Aug 13, 20255$209.0MPDDYMMJOYYvs. Q1 2025SEC
Q1 2025May 14, 20255$107.6MTSMJOYYZGNvs. Q4 2024SEC
Q4 2024Feb 13, 20259$156.2MPDDTSMMUvs. Q3 2024SEC
Q3 2024Nov 14, 20245$150.7MZTOYMMNXTvs. Q2 2024SEC
Q2 2024Aug 13, 20248$260.3MPDDBABAEDUvs. Q1 2024SEC
Q1 2024May 14, 202412$304.0MBABAPDDTSMvs. Q4 2023SEC
Q4 2023Feb 14, 20248$244.3MBABADQZTOvs. Q3 2023SEC
Q3 2023Nov 14, 20235$274.6MBABADQBEKEvs. Q2 2023SEC
Q2 2023Aug 11, 20238$340.0MBABADQPDDvs. Q1 2023SEC
Q1 2023May 12, 202310$477.8MBABAPDDDQvs. Q4 2022SEC
Q4 2022May 15, 2023Amended10$368.7MBABADQMOMO–SEC

13D and 13G filings

Companies where Alpine Investment Management Ltd reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Alpine Investment Management Ltd does not currently report owning 5% or more of any company.

Latest filings

11 filings on file made by Alpine Investment Management Ltd or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Alpine Investment Management Ltd
CompanyFiled (ET)FilerFormStakeChangeEvent dateFiling
ARWArrow Electronics, Inc.Aug 5, 20266:45 PM ETACR Alpine Capital Research, LLCand 12 others13G/A2.90%1.46M shares−3.80 ppfrom 6.70%Below 5%Jun 30, 2026SEC
THOThor Industries IncMay 19, 20266:54 PM ETACR Alpine Capital Research, LLCand 11 others13G/A10.00%5.28M shares+0.70 ppfrom 9.30%May 13, 2026SEC
LBTYALiberty Global Ltd.Apr 9, 20268:41 PM ETACR Alpine Capital Research, LLCand 12 others13G/A13.50%23.6M shares+2.10 ppfrom 11.40%Mar 31, 2026SEC
THOThor Industries IncApr 9, 20268:39 PM ETACR Alpine Capital Research, LLCand 11 others13G/A9.30%4.90M shares+1.30 ppfrom 8.00%Mar 31, 2026SEC
ARWArrow Electronics, Inc.Feb 10, 20262:49 PM ETACR Alpine Capital Research, LLCand 12 others13G/A6.70%3.45M shares+1.60 ppfrom 5.10%Dec 31, 2025SEC
ARWArrow Electronics, Inc.Oct 24, 20254:30 PM ETACR Alpine Capital Research, LLCand 12 others13G5.10%2.63M sharesNewOct 17, 2025SEC
THOThor Industries IncAug 1, 20259:34 PM ETACR Alpine Capital Research, LLCand 11 others13G/A8.00%4.27M shares+1.40 ppfrom 6.60%Jun 30, 2025SEC
THOThor Industries IncMay 9, 20254:16 PM ETACR Alpine Capital Research, LLCand 11 others13G/A6.60%3.48M shares+1.50 ppfrom 5.10%Mar 31, 2025SEC
LBTYALiberty Global Ltd.May 9, 20254:15 PM ETACR Alpine Capital Research, LLCand 12 others13G/A11.40%19.8M shares+1.40 ppfrom 10.00%Mar 31, 2025SEC
THOThor Industries IncMar 12, 20258:14 PM ETACR Alpine Capital Research, LLCand 11 others13G5.10%2.72M sharesNewMar 5, 2025SEC
LBTYALiberty Global Ltd.Dec 27, 20249:39 PM ETACR Alpine Capital Research, LLCand 12 others13G/A10.00%17.3M shares–Dec 24, 2024SEC