Alpine Investment Management Ltd

CIK

1964631

Location

HONG KONG, K3

Portfolio Value

Small $205,887,166

Diversification

Highly concentrated

Filing Date

Global Rank

#4,126 / 8,605 ▼ 43 · as of Mar 2026

Top Industry

Software - Application 44.5%

3Y Alpha vs SPY

-18.1%

Period ended 3 months ago

Filed May 15, 2026 · 55d

14 quarters · since Dec 2022

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+6.5%

SPY

+76.5%

Annualised alpha

-18.7%

Max drawdown

−33.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

10 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

44.5%

+8.7 pts

Top 5

94.2%

+5.1 pts

Top 10

100.0%

0.0 pts

HHI

3,162

Highly concentrated+1,057

Portfolio Trend

14 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	47.9%	$98,559,190	4
Consumer Cyclical	36.6%	$75,288,706	2
Financial Services	11.3%	$23,195,480	1
Communication Services	4.3%	$8,843,790	3

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

3 positions

Ticker	Company	Δ Shares	Shares	Value
LU	Lufax Holding Ltd	+4,297,500	12,404,000	$23,195,480
YMM	Full Truck Alliance Co. Ltd.	+3,605,200	11,050,000	$91,715,000
BABA	Alibaba Group Holding Ltd	+384,470	523,270	$65,649,454
No positions match the current search.

Trimmed

Positions the filer reduced

3 positions

Ticker	Company	Δ Shares	Shares	Value
JOYY	JOYY Inc.	−430,753	65,547	$3,827,289
PDD	PDD Holdings Inc.	−211,862	94,336	$9,639,252
NVDA	Nvidia Corp	−144,900	20,500	$3,575,200
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
META	Meta Platforms, Inc.	6,420	$3,673,074
MU	Micron Technology Inc	7,700	$2,601,368
MOMO	Hello Group Inc.	233,234	$1,343,427
LITE	Lumentum Holdings Inc.	950	$667,622
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
WB	WEIBO Corp	386,000	$3,944,920
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

10 positions · $205,887,166 total · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Financial Services Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
YMM	Full Truck Alliance Co. Ltd. Technology	Added	11,050,000	+3,605,200	$91,715,000	+14.8%	44.55%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Added	523,270	+384,470	$65,649,454	+222.7%	31.89%
LU	Lufax Holding Ltd Financial Services	Added	12,404,000	+4,297,500	$23,195,480	+11.8%	11.27%
PDD	PDD Holdings Inc. Consumer Cyclical	Reduced	94,336	-211,862	$9,639,252	−72.2%	4.68%
JOYY	JOYY Inc. Communication Services	Reduced	65,547	-430,753	$3,827,289	−88.1%	1.86%
META	Meta Platforms, Inc. Communication Services	NEW	6,420	NEW	$3,673,074	NEW	1.78%
NVDA	Nvidia Corp Technology	Reduced	20,500	-144,900	$3,575,200	−88.4%	1.74%
MU	Micron Technology Inc Technology	NEW	7,700	NEW	$2,601,368	NEW	1.26%
MOMO	Hello Group Inc. Communication Services	NEW	233,234	NEW	$1,343,427	NEW	0.65%
LITE	Lumentum Holdings Inc. Technology	NEW	950	NEW	$667,622	NEW	0.32%