Alpine Investment Management Ltd

Q4 2025 13F-HR Holdings

Location
Hong Kong, K3
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
10
Total value ($000)
$384,393
Net value change ($000)
+89,009 (30.1%)
New positions
4
Sold out positions
1
Turnover %
47.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
PDD 34,720 NEW
NVDA 30,847 NEW
YMM 28,003 54.0%
BABA 20,345 NEW
WB 3,945 NEW
LU 3,599 21.0%
Top Reduces (Value $000, Stocks/ETFs)
AGX -16,203 -100.0%
JOYY -1,561 -4.6%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 161,761 (42.1% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type