Institutional Manager · CIK 0001964631
Alpine Investment Management Ltd
HONG KONG, K3 · File #028-22984
Latest AUM
$384.4M
Positions
10
Top-10 Concentration
100.0%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| REDUCE | PDD HOLDINGS INC | PDD | -5,000 | -$56.7M | -$25.1M |
| NEW | ALIBABA GROUP HLDG LTD | BBAAY | +2,750 | +$40.3M | $0 |
| ADD | FULL TRUCK ALLIANCE CO LTD | YMM | +3,444,800 | +$37.0M | -$9.0M |
| NEW | PDD HOLDINGS INC | PDD | +306,198 | +$34.7M | $0 |
| NEW | NVIDIA CORPORATION | NVDA | +165,400 | +$30.8M | $0 |
| NEW | ADVANCED MICRO DEVICES INC | AMD | +1,250 | +$26.8M | $0 |
| NEW | ALIBABA GROUP HLDG LTD | BBAAY | +138,800 | +$20.3M | $0 |
| EXITED | ARGAN INC | 04010E109 | -60,000 | -$16.2M | $0 |
| ADD | LUFAX HOLDING LTD | LU | +3,881,500 | +$9.9M | -$6.3M |
| REDUCE | JOYY INC | JOYY | -78,700 | -$5.1M | +$3.5M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202510 pos · $384.4M
- 13F HOLDINGS REPORTQ/E Sep 20255 pos · $295.4M
- 13F HOLDINGS REPORTQ/E Jun 20258 pos · $331.5M
- 13F HOLDINGS REPORTQ/E Mar 202510 pos · $455.9M
- 13F HOLDINGS REPORTQ/E Dec 202414 pos · $353.6M
- 13F HOLDINGS REPORTQ/E Sep 20248 pos · $371.7M
- 13F HOLDINGS REPORTQ/E Jun 202412 pos · $749.2M
- 13F HOLDINGS REPORTQ/E Mar 202414 pos · $868.0M
- 13F HOLDINGS REPORTQ/E Dec 20239 pos · $5.00B
Top 10 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | PDD HOLDINGS INC | PDD | 8,350 | $94.7M | 24.63% |
| 2 | FULL TRUCK ALLIANCE CO LTD | YMM | 7,444,800 | $79.9M | 20.78% |
| 3 | ALIBABA GROUP HLDG LTD | BBAAY | 2,750 | $40.3M | 10.49% |
| 4 | PDD HOLDINGS INC | PDD | 306,198 | $34.7M | 9.03% |
| 5 | JOYY INC | JOYY | 496,300 | $32.1M | 8.36% |
| 6 | NVIDIA CORPORATION | NVDA | 165,400 | $30.8M | 8.02% |
| 7 | ADVANCED MICRO DEVICES INC | AMD | 1,250 | $26.8M | 6.96% |
| 8 | LUFAX HOLDING LTD | LU | 8,106,500 | $20.8M | 5.40% |
| 9 | ALIBABA GROUP HLDG LTD | BBAAY | 138,800 | $20.3M | 5.29% |
| 10 | WEIBO CORP | WEIBF | 386,000 | $3.9M | 1.03% |