Alpine Associates Management Inc. In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 9, 2024), Alpine Associates Management Inc. reported 41 stock positions worth $2.1 billion . Its top holding was Hess (HES) at 11.8% of the portfolio, followed by Axonics (6.8% ) and Ansys (ANSS, 6.1% ). Compared with Q1 2024, it opened 18 new positions, sold out of 16, added to 16 and reduced 5. The biggest buy was a new position in Stericycle (SRCL) and the biggest sale an exit from Pioneer Natural Resources (PXD).
Location PALM BEACH, FL
CIK 0001396835
Portfolio Value $2.1B (Q2 2024) Holdings 41 stocks · $2.1B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2024 HES Hess Corp. 1,663,800 $245.4M Reduce -2.3% AXONICS INC 2,108,871 $141.8M Add +16.2% ANSS Ansys Inc. 396,633 $127.5M Reduce -25.3% AMED Amedisys Inc. 1,280,897 $117.6M Add +0.9% CTLT Catalent Inc. 2,061,251 $115.9M Add +3.8% DFS Discover Financial Services 859,494 $112.4M Reduce -14.0% X United States Steel Corp. 2,667,932 $100.8M Add +13.5% CERE Cerevel Therapeutics Holding 2,353,694 $96.2M Add +0.5% ACI Albertsons Cos Inc. Class A 4,667,734 $92.2M No change JNPR Juniper Networks Inc. 2,374,164 $86.6M Add +9.1% MGRC McGrath Rentcorp 710,853 $75.7M Add +9.8% OLK Olink Holding AB - ADR 2,604,720 $66.4M Add +0.9% SRCL Stericycle Inc. 1,071,700 $62.3M New ETRN Equitrans Midstream Corp. 3,769,955 $48.9M Add +1.8% HCP Hashicorp Inc. Class A 1,440,804 $48.5M New CPRI Capri Holdings Ltd. 1,262,110 $41.8M Reduce -15.9% WIRE Encore Wire Corp. 134,042 $38.8M New STER Sterling Check Corp. 2,477,920 $36.7M Add +24.5% VZIO Vizio Holding Corp. Class A 3,080,298 $33.3M Add +9.7% PRFT Perficient Inc. 435,098 $32.5M New SIMO Silicon Motion Technol-ADR 399,319 $32.3M Reduce -8.1% HIBB Hibbett Inc. 354,363 $30.9M New HAYN Haynes International Inc. 485,360 $28.5M Add +37.4% EDR Endeavor Group Hold Class A 942,000 $25.5M New AY Atlantica Sustainable Infras 1,079,688 $23.7M New NVEI Nuvei Corp.-Subordinate VTG 715,203 $23.2M New SWN Southwestern Energy Co. 3,314,122 $22.3M Add +62.3% ALE Allete Inc. 352,600 $22.0M New HA Hawaiian Holdings Inc. 1,756,553 $21.8M Add +0.0% HOLI Hollysys Automation Technolo 954,411 $20.7M Add +1.4% AGS Playags Inc. 1,530,843 $17.6M New PWSC Powerschool Holdings Inc. Class A 709,342 $15.9M New MRO Marathon Oil Corp. 528,800 $15.2M New SQSP Squarespace Inc. Class A 330,700 $14.4M New CHX Championx Corp. 354,900 $11.8M New AAN The Aaron's Co. Inc. filed as THE AARONS COMPANY INC 839,571 $8.4M New MTTR Matterport Inc. 1,301,100 $5.8M New PFS Provident Financial Services 398,911 $5.7M New NWLI National Western Life Grou-A 11,148 $5.5M No change INBX Inhibrx Biosciences Inc. 305,967 $4.3M Add +16.1% DO Diamond Offshore Drilling Inc. 117,300 $1.8M New
Options reported separately and not counted above: IP calls ($9.8M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.9M (not counted above) Security Class Shares / Principal Value Change CVE.WS Cenovus Energy Inc. -CW26 *W EXP 01/01/202 127,258 $1.9M No change
Total filed on the 13F, all lines: $2.1B.
Portfolio Sells Q1 2024 → Q2 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▲ PXD Pioneer Natural Resources Co. Sold out 0.00% −7.21 AEL American National Group Inc. Sold out 0.00% −4.72 CPE Callon Petroleum Co. Sold out 0.00% −3.34 DOOR Masonite International Corp. Sold out 0.00% −3.28 TCN Tricon Residential Inc. Sold out 0.00% −1.86 SP SP Plus Corp. Sold out 0.00% −1.86 NGMS Neogames SA Sold out 0.00% −1.41 ERF Enerplus Corp. Sold out 0.00% −1.37 CMBT CMB Tech NV Sold out 0.00% −1.22 EVBG Everbridge Inc. Sold out 0.00% −1.16 M D C HLDGS INC Sold out 0.00% −1.15 ANSS Ansys Inc. Reduce -25.3% 6.13% −1.05 CPRI Capri Holdings Ltd. Reduce -15.9% 2.01% −0.64 SPR Spirit Aerosystems Hold Class A Sold out 0.00% −0.49 FUSN Fusion Pharmaceuticals Inc. Sold out 0.00% −0.49 TGAN Transphorm Inc. Sold out 0.00% −0.47 LBAI Lakeland Bancorp Inc. Sold out 0.00% −0.24 EAGLE BULK SHIPPING INC Sold out 0.00% −0.21 SIMO Silicon Motion Technol-ADR Reduce -8.1% 1.56% +0.25 DFS Discover Financial Services Reduce -14.0% 5.41% +0.30 HES Hess Corp. Reduce -2.3% 11.81% +1.67
Portfolio Buys Q1 2024 → Q2 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▼ SRCL Stericycle Inc. New 3.00% +3.00 HCP Hashicorp Inc. Class A New 2.34% +2.34 AXONICS INC Add +16.2% 6.82% +1.94 WIRE Encore Wire Corp. New 1.87% +1.87 PRFT Perficient Inc. New 1.57% +1.57 HIBB Hibbett Inc. New 1.49% +1.49 EDR Endeavor Group Hold Class A New 1.22% +1.22 CTLT Catalent Inc. Add +3.8% 5.58% +1.20 AY Atlantica Sustainable Infras New 1.14% +1.14 NVEI Nuvei Corp.-Subordinate VTG New 1.11% +1.11 X United States Steel Corp. Add +13.5% 4.85% +1.11 AMED Amedisys Inc. Add +0.9% 5.66% +1.09 ALE Allete Inc. New 1.06% +1.06 JNPR Juniper Networks Inc. Add +9.1% 4.16% +1.02 AGS Playags Inc. New 0.85% +0.85 OLK Olink Holding AB - ADR Add +0.9% 3.19% +0.82 CERE Cerevel Therapeutics Holding Add +0.5% 4.63% +0.77 PWSC Powerschool Holdings Inc. Class A New 0.76% +0.76 MRO Marathon Oil Corp. New 0.73% +0.73 SQSP Squarespace Inc. Class A New 0.69% +0.69 CHX Championx Corp. New 0.57% +0.57 ETRN Equitrans Midstream Corp. Add +1.8% 2.35% +0.55 HAYN Haynes International Inc. Add +37.4% 1.37% +0.54 MGRC McGrath Rentcorp Add +9.8% 3.64% +0.53 STER Sterling Check Corp. Add +24.5% 1.76% +0.52 SWN Southwestern Energy Co. Add +62.3% 1.07% +0.47 AAN The Aaron's Co. Inc. New 0.40% +0.40 VZIO Vizio Holding Corp. Class A Add +9.7% 1.60% +0.40 MTTR Matterport Inc. New 0.28% +0.28 PFS Provident Financial Services New 0.28% +0.28 HA Hawaiian Holdings Inc. Add +0.0% 1.05% +0.14 DO Diamond Offshore Drilling Inc. New 0.09% +0.09 HOLI Hollysys Automation Technolo Add +1.4% 0.99% +0.05 INBX Inhibrx Biosciences Inc. Add +16.1% 0.21% −1.23
Options Activity Q1 2024 → Q2 2024 Security Type Change vs Q1 2024 Underlying Shares Value ▼ IP International Paper Co. call New 226,400 $9.8M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 65 $1.6B NSC, GTLS, QRVO, SLAB, UNF Q1 2026 69 $1.7B NSC, AL, GTLS, EA, QRVO Q4 2025 65 $1.5B NSC, GTLS, CYBR, EXAS, NGD Q3 2025 65 $1.6B NSC, VRNA, K, GTLS, SPR Q2 2025 47 $1.9B HES, ANSS, BPMC, K, SPR Q1 2025 44 $1.9B HES, DFS, ANSS, SPR, K Q4 2024 41 $1.6B HES, DFS, ANSS, SPR, JNPR Q3 2024 48 $2.2B HES, AXONICS INC, ANSS, CTLT, DFS Q2 2024 41 $2.1B HES, AXONICS INC, ANSS, AMED, CTLT Q1 2024 39 $2.6B HES, PXD, ANSS, DFS, AXONICS INC