Alpine Associates Management Inc. is an SEC-registered investment adviser based in Palm Beach, FL that reports managing 9 hedge funds on Form ADV. It reports $2.1 billion in regulatory assets under management. Its private funds, of all types, hold $2.0 billion in gross assets. Its disclosed U.S. stock holdings returned an estimated -5.8% 2026 YTD through Jun 30 (S&P 500: +9.5%), based on 13F filings. Over a longer period they returned an estimated -16.2% from Q3 2024 to Q2 2026, compared with +37.2% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $2.1 billionForm ADV Item 5.F
- Gross assets of private funds
- $2.0 billionAll private fund types, Form ADV
- Hedge funds managed
- 99 private funds in total
- Employees
- 26Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 138901
- Latest Form ADV
- 03/26/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
Estimated by AltMountain, derived from the firm’s public Form 13F filings. Not reported by the firm and not the return of any fund.
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q2 2026 | +0.8% | +14.8% |
| Q1 2026 | -6.6% | -4.6% |
| Q4 2025 | -3.7% | +2.4% |
| Q3 2025 | -4.2% | +7.8% |
| Q2 2025 | -5.8% | +10.4% |
| Q1 2025 | +3.0% | -4.5% |
| Q4 2024 | -1.7% | +2.1% |
| Q3 2024 | +1.1% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Manager of this firm? Report your fund’s actual net return, or email hello@altmountain.com to correct or remove this estimate. Removal requests from the firm are honored.
13F holdings as of Jun 30, 2026
The 50 largest of 66 share positions ($1,597,653,628) reported by Alpine Associates Management Inc. on Form 13F for the quarter ended Jun 30, 2026, filed Aug 6, 2026. Shown as filed with the SEC. Original filing on SEC.gov ↗
| Stock | Value | % of 13F portfolio | Shares | Shares vs prior quarter |
|---|---|---|---|---|
| Norfolk Southn Corp | $145,232,046 | 9.09% | 461,655 | -0.60% |
| Chart Inds Inc | $103,197,555 | 6.46% | 493,910 | +15.20% |
| Qorvo Inc | $74,444,290 | 4.66% | 798,159 | -0.42% |
| Silicon Laboratories Inc | $65,292,395 | 4.09% | 298,739 | +34.29% |
| Unifirst Corp Mass | $62,244,362 | 3.90% | 235,364 | +8.44% |
| Penumbra Inc | $59,672,330 | 3.74% | 188,986 | +43.23% |
| Kenvue Inc | $58,314,547 | 3.65% | 3,051,520 | +2.80% |
| Webster Finl Corp | $57,930,182 | 3.63% | 758,050 | +82.00% |
| Electronic Arts Inc | $53,280,669 | 3.33% | 259,855 | -18.99% |
| Skywater Technology Inc | $47,222,886 | 2.96% | 1,356,200 | +10.43% |
| Warner Bros Discovery Inc | $45,641,786 | 2.86% | 1,711,995 | +9.42% |
| Roku Inc | $45,344,455 | 2.84% | 328,250 | New |
| Topbuild Cor | $38,911,817 | 2.44% | 91,308 | New |
| Globalstar Inc | $38,015,025 | 2.38% | 467,647 | New |
| Bio-techne Corp | $35,466,300 | 2.22% | 502,000 | New |
| Valaris LTD | $34,147,337 | 2.14% | 470,349 | -0.46% |
| Brighthouse Finl Inc | $31,075,236 | 1.95% | 490,920 | +8.14% |
| Janus Henderson Group PLC | $30,570,488 | 1.91% | 587,894 | -0.45% |
| Aes Corp | $30,308,729 | 1.90% | 2,067,444 | +9.38% |
| NCR Atleos Corporation | $28,895,868 | 1.81% | 665,650 | +40.20% |
| Liveramp Hldgs Inc | $27,640,935 | 1.73% | 734,350 | New |
| Dominion Energy Inc | $26,373,597 | 1.65% | 386,200 | New |
| Axcelis Technologies Inc | $25,557,753 | 1.60% | 134,905 | New |
| Txnm Energy Inc | $24,606,635 | 1.54% | 433,368 | -15.38% |
| Digitalbridge Group Inc | $24,336,548 | 1.52% | 1,542,240 | +6.19% |
| Zim Integrated Shipping Serv | $24,334,674 | 1.52% | 935,949 | -20.77% |
| Select Med Hldgs Corp | $21,535,710 | 1.35% | 1,304,404 | +10.85% |
| National Storage Affiliates | $21,067,172 | 1.32% | 473,739 | -0.45% |
| Organon & Co | $18,214,455 | 1.14% | 1,345,233 | New |
| Caesars Entertainment Inc Ne | $17,039,598 | 1.07% | 564,599 | New |
| Nuvalent Inc | $15,968,553 | 1.00% | 129,300 | New |
| Iridium Communications Inc | $15,890,045 | 0.99% | 289,700 | New |
| Shutterstock Inc | $15,840,992 | 0.99% | 1,135,555 | -0.39% |
| Liberty Broadband Corp | $15,624,283 | 0.98% | 469,762 | -0.51% |
| International Money Express | $14,264,316 | 0.89% | 987,150 | +64.25% |
| Whitestone REIT | $12,115,593 | 0.76% | 639,008 | New |
| Talkspace Inc | $11,609,395 | 0.73% | 2,232,576 | +20.35% |
| Leggett & Platt Inc | $11,242,771 | 0.70% | 960,100 | New |
| Stellar Bancorp Inc | $11,157,051 | 0.70% | 283,750 | +50.41% |
| Sila Realty Trust Inc | $11,097,460 | 0.69% | 365,529 | New |
| Avanos Med Inc | $10,763,609 | 0.67% | 432,621 | New |
| Lci Inds | $10,228,005 | 0.64% | 96,600 | New |
| Xoma Royalty Corporation | $10,171,017 | 0.64% | 239,318 | New |
| Corebridge Finl Inc | $9,893,955 | 0.62% | 345,580 | +20.30% |
| Allied Gold Corp | $9,314,301 | 0.58% | 392,168 | -53.16% |
| Sunococorp LLC | $8,629,482 | 0.54% | 127,523 | -31.69% |
| Global Business Travel Group | $8,583,081 | 0.54% | 914,066 | New |
| Compass Inc | $8,264,749 | 0.52% | 670,296 | -30.34% |
| Two Harbors Inventment Corpo | $8,205,914 | 0.51% | 661,234 | -0.45% |
| Apogee Therapeutics Inc | $7,685,067 | 0.48% | 57,900 | New |
Changes since Mar 31, 2026
Comparing the share counts in the two quarter-end filings: 29 new positions, 33 sold out, 18 increased, 17 reduced and 2 unchanged.
New positions
| Stock | Value | Shares |
|---|---|---|
| Roku Inc | $45,344,455 | 328,250 |
| Topbuild Cor | $38,911,817 | 91,308 |
| Globalstar Inc | $38,015,025 | 467,647 |
| Bio-techne Corp | $35,466,300 | 502,000 |
| Liveramp Hldgs Inc | $27,640,935 | 734,350 |
| Dominion Energy Inc | $26,373,597 | 386,200 |
| Axcelis Technologies Inc | $25,557,753 | 134,905 |
| Organon & Co | $18,214,455 | 1,345,233 |
| Caesars Entertainment Inc Ne | $17,039,598 | 564,599 |
| Nuvalent Inc | $15,968,553 | 129,300 |
| Iridium Communications Inc | $15,890,045 | 289,700 |
| Whitestone REIT | $12,115,593 | 639,008 |
| Leggett & Platt Inc | $11,242,771 | 960,100 |
| Sila Realty Trust Inc | $11,097,460 | 365,529 |
| Avanos Med Inc | $10,763,609 | 432,621 |
| Lci Inds | $10,228,005 | 96,600 |
| Xoma Royalty Corporation | $10,171,017 | 239,318 |
| Global Business Travel Group | $8,583,081 | 914,066 |
| Apogee Therapeutics Inc | $7,685,067 | 57,900 |
| Payoneer Global Inc | $7,120,001 | 1,000,000 |
Sold out
| Stock | Value at Mar 31, 2026 | Shares held then |
|---|---|---|
| Air Lease Corp | $89,766,950 | 1,382,306 |
| Arcellx Inc | $43,401,960 | 378,000 |
| Apellis Pharmaceuticals Inc | $34,758,721 | 864,000 |
| Centessa Pharmaceuticals PLC | $34,377,660 | 865,500 |
| Masimo Corp | $33,617,430 | 189,000 |
| Hologic Inc | $32,670,754 | 432,210 |
| CSG SYS Intl Inc | $32,177,050 | 402,515 |
| Clearwater Analytics Hldgs I | $29,927,537 | 1,265,435 |
| Sealed Air Corp New | $26,277,045 | 624,900 |
| Thermon Group Hldgs Inc | $24,488,454 | 485,882 |
| Proassurance Corp | $23,374,985 | 945,590 |
| Amicus Therapeutics Inc | $23,080,907 | 1,596,190 |
| Cantaloupe Inc | $22,464,034 | 2,078,079 |
| Onestream Inc | $22,096,608 | 920,692 |
| Day One Biopharmaceuticals I | $19,832,002 | 925,000 |
| Sunopta Inc | $19,244,304 | 2,969,800 |
| Semrush Hldgs Inc | $18,914,081 | 1,584,094 |
| Sun Ctry Airls Hldgs Inc | $18,714,682 | 1,132,850 |
| Veris Residential Inc Com | $14,123,289 | 748,452 |
| Silicon Motion Technology Co | $13,124,231 | 116,878 |
Largest increases
| Stock | Change in shares | Change | Value now | Shares now |
|---|---|---|---|---|
| Webster Finl Corp | +341,550 | +82.00% | $57,930,182 | 758,050 |
| Penumbra Inc | +57,036 | +43.23% | $59,672,330 | 188,986 |
| Silicon Laboratories Inc | +76,289 | +34.29% | $65,292,395 | 298,739 |
| Chart Inds Inc | +65,156 | +15.20% | $103,197,555 | 493,910 |
| NCR Atleos Corporation | +190,850 | +40.20% | $28,895,868 | 665,650 |
| International Money Express | +386,152 | +64.25% | $14,264,316 | 987,150 |
| Unifirst Corp Mass | +18,314 | +8.44% | $62,244,362 | 235,364 |
| Skywater Technology Inc | +128,100 | +10.43% | $47,222,886 | 1,356,200 |
| Warner Bros Discovery Inc | +147,345 | +9.42% | $45,641,786 | 1,711,995 |
| Stellar Bancorp Inc | +95,100 | +50.41% | $11,157,051 | 283,750 |
| Axalta Coating SYS LTD | +96,330 | +203.98% | $4,912,487 | 143,556 |
| Aes Corp | +177,281 | +9.38% | $30,308,729 | 2,067,444 |
| Brighthouse Finl Inc | +36,973 | +8.14% | $31,075,236 | 490,920 |
| Select Med Hldgs Corp | +127,704 | +10.85% | $21,535,710 | 1,304,404 |
| Talkspace Inc | +377,576 | +20.35% | $11,609,395 | 2,232,576 |
| Corebridge Finl Inc | +58,317 | +20.30% | $9,893,955 | 345,580 |
| Kenvue Inc | +83,000 | +2.80% | $58,314,547 | 3,051,520 |
| Digitalbridge Group Inc | +89,905 | +6.19% | $24,336,548 | 1,542,240 |
Largest reductions
| Stock | Change in shares | Change | Value now | Shares now |
|---|---|---|---|---|
| Electronic Arts Inc | -60,909 | -18.99% | $53,280,669 | 259,855 |
| Allied Gold Corp | -445,132 | -53.16% | $9,314,301 | 392,168 |
| Zim Integrated Shipping Serv | -245,351 | -20.77% | $24,334,674 | 935,949 |
| Txnm Energy Inc | -78,738 | -15.38% | $24,606,635 | 433,368 |
| Sunococorp LLC | -59,153 | -31.69% | $8,629,482 | 127,523 |
| Compass Inc | -291,913 | -30.34% | $8,264,749 | 670,296 |
| Norfolk Southn Corp | -2,800 | -0.60% | $145,232,046 | 461,655 |
| Gold Resource Corp | -553,755 | -28.64% | $1,738,646 | 1,379,877 |
| Qorvo Inc | -3,400 | -0.42% | $74,444,290 | 798,159 |
| Valaris LTD | -2,151 | -0.46% | $34,147,337 | 470,349 |
| Janus Henderson Group PLC | -2,682 | -0.45% | $30,570,488 | 587,894 |
| National Storage Affiliates | -2,161 | -0.45% | $21,067,172 | 473,739 |
| Liberty Broadband Corp | -2,400 | -0.51% | $15,624,283 | 469,762 |
| Shutterstock Inc | -4,400 | -0.39% | $15,840,992 | 1,135,555 |
| Two Harbors Inventment Corpo | -3,017 | -0.45% | $8,205,914 | 661,234 |
| Clear Channel Outdoor Hldgs | -7,599 | -0.51% | $3,611,611 | 1,492,401 |
| Getty Images Holdings Inc | -343 | -0.36% | $80,674 | 93,808 |
Each list shows up to 20 positions, largest first by dollar amount. Changes compare two quarter-end snapshots, with the earlier share count adjusted for stock splits AltMountain detected. They do not show when, or at what price, anything was bought or sold.
From public Form 13F filings, not verified. Form 13F is filed up to 45 days after the quarter ends, so positions may have changed. It lists only certain long positions in U.S.-listed stocks and exchange-traded funds; options are not shown here, and short positions, most bonds, cash, non-U.S. securities and private investments are not reported at all, so a holding may be one side of a hedge. A filing covers the manager as a whole, not any single fund, and filings contain errors. This is not investment advice or a recommendation to buy or sell any security. Disclosures
Hedge funds filing Form D (1)
Matched to this firm by the fund names and related persons in each Form D. The list may be incomplete.
Private funds reported on Form ADV (9)
As reported in the adviser's Form ADV filed Mar 25, 2024. Funds also listed from Form D are shown above.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. AltMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures