ACR Alpine Capital Research, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), ACR Alpine Capital Research, LLC reported 41 stock positions worth $4.8 billion. Its top holding was Goldman Sachs Access Treasur (GBIL) at 8.8% of the portfolio, followed by FedEx (FDX, 8.1%) and Johnson & Johnson (JNJ, 7.7%). Compared with Q4 2024, it opened 4 new positions, sold out of 1, added to 20 and reduced 13. The biggest buy was FedEx (FDX, shares +86%) and the biggest sale Goldman Sachs Access Treasur (GBIL, shares −19%).
- Most Recent 13F
- Q2 2026
- Location
- ST. LOUIS, MO
- CIK
- 0001508822
- Portfolio Value
- $4.8B (Q1 2025)
- SEC Filing
- 0001085146-25-002641 ↗ filed May 6, 2025
Holdings Value
Holdings 41 stocks · $4.8B
| GBIL Goldman Sachs Access Treasur | 8.76% | 4,177,961 | $418.5M | Reduce -18.8% |
| FDX FedEx Corp. | 8.08% | 1,585,033 | $386.4M | Add +85.9% |
| JNJ Johnson & Johnson | 7.73% | 2,226,559 | $369.3M | Add +21.0% |
| DG Dollar General Corp. | 7.72% | 4,197,437 | $369.1M | Add +3.9% |
| C Citigroup Inc. | 7.69% | 5,177,452 | $367.5M | Reduce -10.1% |
| CVX Chevron Corp. | 7.68% | 2,193,567 | $367.0M | Add +1.6% |
| GM General Motors Co. | 7.57% | 7,691,140 | $361.7M | Add +4.0% |
| LEN Lennar Corp. Class A | 6.44% | 2,679,944 | $307.6M | Add +61.1% |
| JPM JPMorgan Chase & Co. | 5.77% | 1,124,542 | $275.9M | Reduce -13.3% |
| THO Thor Industries Inc. | 5.52% | 3,482,917 | $264.0M | Add +62.5% |
| MSFT Microsoft Corp. | 5.50% | 700,762 | $263.1M | Add +1.1% |
| VOD Vodafone Group PLC-SP ADR | 5.04% | 25,696,928 | $240.8M | Add +16.8% |
| LBTYA Liberty Global Ltd. Class A | 4.78% | 19,835,384 | $228.3M | Add +14.2% |
| MGA Magna International Inc. | 4.25% | 5,982,399 | $203.3M | Add +8.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.55% | 229,287 | $122.1M | Reduce -49.9% |
| LBTYK Liberty Global Ltd. Class C | 1.83% | 7,303,923 | $87.4M | Reduce -2.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.42% | 85 | $67.9M | Reduce -42.6% |
| BCS Barclays PLC-Spons ADR | 0.25% | 793,122 | $12.2M | Reduce -15.3% |
| DELL Dell Technologies -C | 0.20% | 106,642 | $9.7M | Add +18.0% |
| ARW Arrow Electronics Inc. | 0.19% | 86,541 | $9.0M | Add +399.5% |
| PPLI People Inc. filed as IAC INC | 0.16% | 163,727 | $7.5M | Add +86.9% |
| FPH Five Point Holdings LLC Class A | 0.11% | 998,198 | $5.3M | Add +3.4% |
| MGM MGM Resorts International | 0.11% | 173,221 | $5.1M | Add +6.9% |
| SNREY Sunrise Communicat Class A | 0.11% | 104,817 | $5.1M | Reduce -23.8% |
| LEN.B Lennar Corp. Class B | 0.08% | 33,347 | $3.6M | Reduce -13.9% |
| MRK Merck & Co. Inc. | 0.06% | 33,126 | $3.0M | Add +20.3% |
| LILAK Liberty Latin Americ Class C | 0.06% | 426,505 | $2.6M | Reduce -1.0% |
| HES Hess Corp. | 0.05% | 16,161 | $2.6M | Add +8.2% |
| SMBC Southern Missouri Bancorp | 0.05% | 48,543 | $2.5M | Add +2.3% |
| TLN Talen Energy Corp. | 0.05% | 11,076 | $2.2M | Reduce -7.9% |
| JEF Jefferies Financial Group Inc. | 0.04% | 36,155 | $1.9M | Reduce -66.2% |
| CORZ Core Scientific Inc. | 0.03% | 208,000 | $1.5M | Add +69.1% |
| FTAI Ftai Aviation Ltd. | 0.03% | 12,500 | $1.4M | New |
| ANGI Angi Inc. | 0.03% | 85,906 | $1.3M | New |
| KW Kennedy-Wilson Holdings Inc. | 0.02% | 113,483 | $985K | New |
| APG Api Group Corp. | 0.02% | 26,490 | $947K | New |
| CRK Comstock Resources Inc. | 0.01% | 32,738 | $666K | No change |
| RPV Invesco S&P 500 Pure Value E | 0.01% | 4,091 | $378K | Reduce -98.2% |
| SLDP Solid Power Inc. | 0.00% | 85,000 | $89K | No change |
| EARN Ellington Credit Co. | 0.00% | 11,978 | $65K | No change |
| NINEQ Nine Energy Service Inc. | 0.00% | 15,000 | $17K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| GBIL Goldman Sachs Access Treasur | Reduce -18.8% | 8.76% | −2.38 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -49.9% | 2.55% | −1.94 |
| C Citigroup Inc. | Reduce -10.1% | 7.69% | −1.09 |
| JPM JPMorgan Chase & Co. | Reduce -13.3% | 5.77% | −0.96 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -42.6% | 1.42% | −0.76 |
| RPV Invesco S&P 500 Pure Value E | Reduce -98.2% | 0.01% | −0.44 |
| LBTYK Liberty Global Ltd. Class C | Reduce -2.3% | 1.83% | −0.30 |
| JEF Jefferies Financial Group Inc. | Reduce -66.2% | 0.04% | −0.14 |
| HHH Howard Hughes Holdings Inc. | Sold out | 0.00% | −0.05 |
| LEN.B Lennar Corp. Class B | Reduce -13.9% | 0.08% | −0.03 |
| SNREY Sunrise Communicat Class A | Reduce -23.8% | 0.11% | −0.02 |
| BCS Barclays PLC-Spons ADR | Reduce -15.3% | 0.25% | −0.01 |
| TLN Talen Energy Corp. | Reduce -7.9% | 0.05% | −0.01 |
| LILAK Liberty Latin Americ Class C | Reduce -1.0% | 0.06% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| FDX FedEx Corp. | Add +85.9% | 8.08% | +2.89 |
| JNJ Johnson & Johnson | Add +21.0% | 7.73% | +1.96 |
| LEN Lennar Corp. Class A | Add +61.1% | 6.44% | +1.52 |
| DG Dollar General Corp. | Add +3.9% | 7.72% | +1.08 |
| THO Thor Industries Inc. | Add +62.5% | 5.52% | +1.08 |
| VOD Vodafone Group PLC-SP ADR | Add +16.8% | 5.04% | +0.99 |
| CVX Chevron Corp. | Add +1.6% | 7.68% | +0.90 |
| ARW Arrow Electronics Inc. | Add +399.5% | 0.19% | +0.15 |
| PPLI People Inc. | Add +86.9% | 0.16% | +0.08 |
| FPH Five Point Holdings LLC Class A | Add +3.4% | 0.11% | +0.03 |
| FTAI Ftai Aviation Ltd. | New | 0.03% | +0.03 |
| ANGI Angi Inc. | New | 0.03% | +0.03 |
| KW Kennedy-Wilson Holdings Inc. | New | 0.02% | +0.02 |
| APG Api Group Corp. | New | 0.02% | +0.02 |
| HES Hess Corp. | Add +8.2% | 0.05% | +0.01 |
| MRK Merck & Co. Inc. | Add +20.3% | 0.06% | +0.00 |
| CORZ Core Scientific Inc. | Add +69.1% | 0.03% | −0.01 |
| SMBC Southern Missouri Bancorp | Add +2.3% | 0.05% | −0.01 |
| MGM MGM Resorts International | Add +6.9% | 0.11% | −0.01 |
| DELL Dell Technologies -C | Add +18.0% | 0.20% | −0.02 |
| LBTYA Liberty Global Ltd. Class A | Add +14.2% | 4.78% | −0.03 |
| MGA Magna International Inc. | Add +8.1% | 4.25% | −0.76 |
| MSFT Microsoft Corp. | Add +1.1% | 5.50% | −0.83 |
| GM General Motors Co. | Add +4.0% | 7.57% | −0.97 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 38 | $7.0B | GBIL, JNJ, CVX, LEN, MSFT |
| Q1 2026 | 36 | $6.7B | GBIL, CVX, JNJ, ARW, VOD |
| Q4 2025 | 34 | $6.4B | GBIL, FDX, JNJ, THO, C |
| Q3 2025 | 35 | $5.9B | GBIL, GM, THO, JNJ, FDX |
| Q2 2025 | 36 | $5.6B | GBIL, C, DG, THO, GM |
| Q1 2025 | 41 | $4.8B | GBIL, FDX, JNJ, DG, C |
| Q4 2024 | 38 | $4.6B | GBIL, C, GM, CVX, JPM |
| Q3 2024 | 37 | $3.4B | GBIL, C, GM, MGA, VOD |
| Q2 2024 | 35 | $3.2B | GBIL, C, GM, BRK.B, MGA |
| Q1 2024 | 39 | $3.3B | GBIL, C, GM, BRK.B, MGA |