ACR Alpine Capital Research, LLC
Long book
$6.70B
Q1 2026
Positions
36
Top-10 weight
75%
concentration
Last quarter
+5.4%
SPY +14.8%
Turnover
16%
of book per quarter
Strategy in plain words
auto-generated from filingsACR Alpine Capital Research, LLC is a concentrated fundamental stock-picker, running a $6.70B US long book across 36 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: GOLDMAN SACHS ACCESS TREASUR, CHEVRON CORP, JOHNSON & JOHNSON, ARROW ELECTRONICS INC, VODAFONE GROUP PLC-SP ADR.
Over the last 9 quarters its long book ran on average 0.3pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-2.3%
Q2 2024
+5.3%
Q3 2024
+1.5%
Q4 2024
-0.3%
Q1 2025
+6.6%
Q2 2025
+9.9%
Q3 2025
+7.5%
Q4 2025
+3.8%
Q1 2026
+5.4%
Sector allocation
Industrials 34%
Financials 17%
Consumer discretionary 13%
Energy 11%
Healthcare 10%
Technology 8%
Communications 7%
Services media 0%
Long book by quarter
What does ACR Alpine own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CVX CHEVRON CORP | Energy | 2.7M | $568.7M | 8.5% | +1.4% |
| JNJ JOHNSON & JOHNSON | Healthcare | 2.2M | $527.4M | 7.9% | -3.6% |
| ARW ARROW ELECTRONICS INC | Consumer discretionary | 3.6M | $513.2M | 7.7% | +3.9% |
| C CITIGROUP INC | Financials | 3.5M | $402.0M | 6.0% | -1.3% |
| FDX FEDEX CORP | Industrials | 1.1M | $400.2M | 6.0% | -35.4% |
| THO THOR INDUSTRIES INC | Industrials | 4.9M | $391.7M | 5.8% | +18.6% |
| LEN LENNAR CORP-A | Industrials | 4.2M | $365.8M | 5.5% | +31.0% |
| MSFT MICROSOFT CORP | Technology | 981.6K | $363.4M | 5.4% | +41.2% |
| GM GENERAL MOTORS CO | Industrials | 4.0M | $299.9M | 4.5% | -14.1% |
| JPM JPMORGAN CHASE & CO | Financials | 978.5K | $287.8M | 4.3% | +0.1% |
| LBTYA LIBERTY GLOBAL LTD-A | Communications | 23.6M | $285.9M | 4.3% | +9.7% |
| MGA MAGNA INTERNATIONAL INC | Industrials | 4.8M | $270.5M | 4.0% | -19.3% |
| DG DOLLAR GENERAL CORP | Consumer discretionary | 1.1M | $133.3M | 2.0% | -57.2% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 224.7K | $107.7M | 1.6% | -0.1% |
| LBTYK LIBERTY GLOBAL LTD-C | Communications | 6.9M | $80.8M | 1.2% | +7.3% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 85 | $61.0M | 0.9% | Held |
| DELL DELL TECHNOLOGIES -C | Technology | 116.9K | $19.2M | 0.3% | +9.4% |
| PPLI PEOPLE INC | Technology | 450.8K | $18.0M | 0.3% | +4.6% |
| SMBC SOUTHERN MISSOURI BANCORP | Financials | 94.7K | $6.1M | 0.1% | +4.0% |
| FPH FIVE POINT HOLDINGS LLC-CL A | Real estate | 1.2M | $5.9M | 0.1% | +10.3% |
| JEF JEFFERIES FINANCIAL GROUP IN | Financials | 124.8K | $5.1M | 0.1% | +30.3% |
| MRK MERCK & CO. INC. | Healthcare | 39.4K | $4.7M | 0.1% | +6.9% |
| BVE DIAMOND HILL INVESTMENT GRP | — | 23.8K | $4.1M | 0.1% | New |
| LILAK LIBERTY LATIN AMERIC-CL C | Communications | 416.2K | $3.7M | 0.1% | -0.4% |
| MGM MGM RESORTS INTERNATIONAL | Services media | 90.4K | $3.3M | 0.0% | +38.1% |
| ZD ZIFF DAVIS INC | Communications | 72.7K | $3.0M | 0.0% | New |
| LEN/B LENNAR CORP - B SHS | Industrials | 34.0K | $2.9M | 0.0% | +12.5% |
| APG API GROUP CORP | Services media | 66.5K | $2.7M | 0.0% | +7.9% |
| ECHO ECHOSTAR CORP-A | Communications | 12.5K | $1.5M | 0.0% | New |
| NINE NINE ENERGY SERVICE INC | Energy | 46.5K | $279K | 0.0% | New |
| NFE NEW FORTRESS ENERGY INC | Utilities | 120.0K | $71K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 30, 2026 | 67 | $6.70B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 5, 2026 | 64 | $6.41B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 30, 2025 | 64 | $5.85B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 1, 2025 | 66 | $5.59B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 6, 2025 | 72 | $4.78B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 6, 2025 | 66 | $4.62B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 4, 2024 | 67 | $3.39B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 1, 2024 | 63 | $3.24B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 6, 2024 | 64 | $3.30B | canonical | SEC ↗ |
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