Alpine Associates Management Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 21, 2026), Alpine Associates Management Inc. reported 69 stock positions worth $1.7 billion. Its top holding was Norfolk Southern (NSC) at 7.9% of the portfolio, followed by Sumisho Air Lease (AL, 5.3%) and Chart Industries (GTLS, 5.2%). Compared with Q4 2025, it opened 40 new positions, sold out of 36, added to 21 and reduced 8. The biggest buy was a new position in Unifirst (UNF) and the biggest sale an exit from Cyberark Software Ltd./Israel (CYBR).
- Most Recent 13F
- Q2 2026
- Location
- PALM BEACH, FL
- CIK
- 0001396835
- Portfolio Value
- $1.7B (Q1 2026)
- SEC Filing
- 0001396835-26-000004 ↗ filed Apr 21, 2026
Holdings Value
Holdings 69 stocks · $1.7B
| NSC Norfolk Southern Corp. | 7.86% | 464,455 | $133.3M | Reduce -0.8% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 5.29% | 1,382,306 | $89.8M | Add +23.6% |
| GTLS Chart Industries Inc. | 5.23% | 428,754 | $88.6M | Reduce -0.5% |
| EA Electronic Arts Inc. | 3.86% | 320,764 | $65.4M | Add +18.2% |
| QRVO Qorvo Inc. | 3.66% | 801,559 | $62.0M | Add +93.1% |
| UNF Unifirst Corp. | 3.22% | 217,050 | $54.6M | New |
| KVUE Kenvue Inc. | 3.02% | 2,968,520 | $51.2M | Add +37.5% |
| VAL Valaris Ltd. | 2.73% | 472,500 | $46.3M | New |
| SLAB Silicon Laboratories Inc. | 2.73% | 222,450 | $46.3M | New |
| ACLX Arcellx Inc. | 2.56% | 378,000 | $43.4M | New |
| PEN Penumbra Inc. | 2.55% | 131,950 | $43.3M | New |
| WBD Warner Bros Discovery Inc. | 2.53% | 1,564,650 | $43.0M | Add +174.5% |
| APLS Apellis Pharmaceuticals Inc. | 2.05% | 864,000 | $34.8M | New |
| CNTA Centessa Pharmaceuticals Ltd. | 2.03% | 865,500 | $34.4M | New |
| SKYT Skywater Technology Inc. | 1.98% | 1,228,100 | $33.7M | New |
| MASI Masimo Corp. | 1.98% | 189,000 | $33.6M | New |
| HOLX Hologic Inc. | 1.93% | 432,210 | $32.7M | Reduce -0.7% |
| CSGS CSG Systems Intl Inc. | 1.90% | 402,515 | $32.2M | Add +747.4% |
| ZIM Zim Integrated Shipping Serv | 1.84% | 1,181,300 | $31.1M | New |
| JHG Janus Henderson Group PLC | 1.79% | 590,576 | $30.3M | Add +127.1% |
| TXNM TXNM Energy Inc. | 1.76% | 512,106 | $29.9M | Add +1.1% |
| CWAN Clearwater Analytics HDS-A | 1.76% | 1,265,435 | $29.9M | Add +228.7% |
| WBS Webster Financial Corp. | 1.70% | 416,500 | $28.9M | New |
| BHF Brighthouse Financial Inc. | 1.60% | 453,947 | $27.2M | Add +21.8% |
| AES AES Corp. | 1.57% | 1,890,163 | $26.6M | New |
| SEE Sealed Air Corp. | 1.55% | 624,900 | $26.3M | Add +46.3% |
| AAUC Allied Gold Corp. | 1.53% | 837,300 | $25.9M | New |
| THR Thermon Group Holdings Inc. | 1.44% | 485,882 | $24.5M | New |
| LBRDK Liberty Broadband-C | 1.40% | 472,162 | $23.7M | Reduce -0.5% |
| PRA Proassurance Corp. | 1.38% | 945,590 | $23.4M | Add +13.1% |
| FOLD Amicus Therapeutics Inc. | 1.36% | 1,596,190 | $23.1M | Add +68.2% |
| CTLP Cantaloupe Inc. | 1.32% | 2,078,079 | $22.5M | Add +8.8% |
| DBRG Digitalbridge Group Inc. | 1.32% | 1,452,335 | $22.4M | Add +282.2% |
| OS Onestream Inc. | 1.30% | 920,692 | $22.1M | New |
| NATL NCR Atleos Corp. | 1.22% | 474,800 | $20.7M | New |
| DAWN Day One Biopharmaceuticals I | 1.17% | 925,000 | $19.8M | New |
| STKL Sunopta Inc. | 1.13% | 2,969,800 | $19.2M | New |
| SEM Select Medical Holdings Corp. | 1.13% | 1,176,700 | $19.2M | New |
| SSTK Shutterstock Inc. | 1.12% | 1,139,955 | $18.9M | Reduce -1.3% |
| SEMR Semrush Holdings Inc. Class A | 1.12% | 1,584,094 | $18.9M | Add +80.0% |
| SNCY Sun Country Airlines Holding filed as SUN CTRY AIRLS HLDGS INC | 1.10% | 1,132,850 | $18.7M | New |
| NSA National Storage Affiliates | 1.06% | 475,900 | $18.0M | New |
| VRE Veris Residential Inc. | 0.83% | 748,452 | $14.1M | New |
| SIMO Silicon Motion Technol-ADR | 0.77% | 116,878 | $13.1M | Add +46.1% |
| SUNC Sunococorp LLC | 0.68% | 186,676 | $11.5M | Add +225.4% |
| TALK Talkspace Inc. | 0.57% | 1,855,000 | $9.6M | New |
| IMXI International Money Express | 0.56% | 600,998 | $9.5M | Add +54.0% |
| AMWD American Woodmark Corp. | 0.53% | 225,795 | $9.0M | Reduce -0.5% |
| CDE Coeur Mining Inc. | 0.45% | 407,542 | $7.6M | New |
| TWO Two Harbors Investment Corp. | 0.45% | 664,251 | $7.6M | Add +40.0% |
| TERN Terns Pharmaceuticals Inc. | 0.44% | 142,250 | $7.5M | New |
| COMP Compass Inc. Class A | 0.41% | 962,209 | $7.0M | New |
| STEL Stellar Bancorp Inc. | 0.41% | 188,650 | $6.9M | New |
| CRBG Corebridge Financial Inc. | 0.40% | 287,263 | $6.9M | New |
| TPH Tri Pointe Homes Inc. | 0.39% | 141,750 | $6.6M | New |
| TEX Terex Corp. | 0.37% | 107,432 | $6.3M | New |
| EHAB Enhabit Inc. | 0.37% | 450,000 | $6.3M | New |
| UDMY Udemy Inc. | 0.32% | 1,187,402 | $5.5M | Add +108.4% |
| EWCZ European Wax Center Inc. Class A | 0.26% | 777,103 | $4.5M | New |
| CCO Clear Channel Outdoor Holdin | 0.21% | 1,500,000 | $3.6M | New |
| CTRA Coterra Energy Inc. | 0.20% | 94,500 | $3.3M | New |
| GOLD RESOURCE CORP | 0.14% | 1,933,632 | $2.3M | New |
| KW Kennedy-Wilson Holdings Inc. | 0.12% | 189,000 | $2.0M | New |
| PKST Peakstone Realty Trust | 0.12% | 94,500 | $2.0M | New |
| AXTA Axalta Coating Systems Ltd. | 0.08% | 47,226 | $1.3M | Reduce -0.4% |
| ONTF ON24 Inc. | 0.07% | 146,623 | $1.2M | New |
| BCO The Brink's Co. | 0.02% | 3,829 | $397K | New |
| ALGT Allegiant Travel Co. | 0.02% | 4,800 | $389K | New |
| GETY Getty Images Holdings Inc. | 0.00% | 94,151 | $75K | Reduce -0.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $159K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 329,465 | $159K | No change |
Total filed on the 13F, all lines: $1.7B.
Portfolio Sells Q4 2025 → Q1 2026
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −5.72 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −5.51 |
| NGD New Gold Inc. | Sold out | 0.00% | −5.50 |
| FYBR Frontier Communications Pare | Sold out | 0.00% | −4.90 |
| BA The Boeing Co. | Sold out | 0.00% | −4.31 |
| RNAM Avidity Biosciences Inc. | Sold out | 0.00% | −4.22 |
| CDTX Cidara Therapeutics Inc. | Sold out | 0.00% | −3.10 |
| DAY Dayforce Inc. | Sold out | 0.00% | −1.56 |
| CMA Comerica Inc. | Sold out | 0.00% | −1.41 |
| HOUS Anywhere Real Estate Inc. | Sold out | 0.00% | −1.33 |
| TGNA Tegna Inc. | Sold out | 0.00% | −1.25 |
| NSC Norfolk Southern Corp. | Reduce -0.8% | 7.86% | −1.25 |
| CFLT Confluent Inc. Class A | Sold out | 0.00% | −1.24 |
| HI Hillenbrand Inc. | Sold out | 0.00% | −1.17 |
| REVG Rev Group Inc. | Sold out | 0.00% | −0.83 |
| JAMF Jamf Holding Corp. | Sold out | 0.00% | −0.82 |
| AVDL Avadel Pharmaceuticals Ltd. | Sold out | 0.00% | −0.76 |
| GTLS Chart Industries Inc. | Reduce -0.5% | 5.23% | −0.76 |
| RKT Rocket Cos Inc. Class A | Sold out | 0.00% | −0.75 |
| STAA Staar Surgical Co. | Sold out | 0.00% | −0.73 |
| SHCO Soho House & Co. Inc. | Sold out | 0.00% | −0.70 |
| VECO Veeco Instruments Inc. | Sold out | 0.00% | −0.68 |
| ATXS Astria Therapeutics Inc. | Sold out | 0.00% | −0.64 |
| SNV Synovus Financial Corp. | Sold out | 0.00% | −0.64 |
| AHL Aspen Insurance Holdings Class A | Sold out | 0.00% | −0.63 |
| DVAX Dynavax Technologies Corp. | Sold out | 0.00% | −0.49 |
| SSTK Shutterstock Inc. | Reduce -1.3% | 1.12% | −0.37 |
| GES Guess? Inc. | Sold out | 0.00% | −0.36 |
| ALEX Alexander & Baldwin Inc. | Sold out | 0.00% | −0.32 |
| FRGE Forge Global Holdings Inc. | Sold out | 0.00% | −0.29 |
| AMWD American Woodmark Corp. | Reduce -0.5% | 0.53% | −0.29 |
| PLYM Plymouth Industrial REIT Inc. | Sold out | 0.00% | −0.27 |
| HOLX Hologic Inc. | Reduce -0.7% | 1.93% | −0.26 |
| PCH Potlatchdeltic Corp. | Sold out | 0.00% | −0.26 |
| CIVI Civitas Resources Inc. | Sold out | 0.00% | −0.17 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.17 |
| LBRDK Liberty Broadband-C | Reduce -0.5% | 1.40% | −0.15 |
| THS Treehouse Foods Inc. | Sold out | 0.00% | −0.15 |
| EB Eventbrite Inc. Class A | Sold out | 0.00% | −0.15 |
| SMLR Semler Scientific Inc. | Sold out | 0.00% | −0.10 |
| IAG Iamgold Corp. | Sold out | 0.00% | −0.08 |
| AXTA Axalta Coating Systems Ltd. | Reduce -0.4% | 0.08% | −0.03 |
| STRIVE INC | Sold out | 0.00% | −0.02 |
| GETY Getty Images Holdings Inc. | Reduce -0.4% | 0.00% | −0.00 |
Portfolio Buys Q4 2025 → Q1 2026
| UNF Unifirst Corp. | New | 3.22% | +3.22 |
| VAL Valaris Ltd. | New | 2.73% | +2.73 |
| SLAB Silicon Laboratories Inc. | New | 2.73% | +2.73 |
| ACLX Arcellx Inc. | New | 2.56% | +2.56 |
| PEN Penumbra Inc. | New | 2.55% | +2.55 |
| APLS Apellis Pharmaceuticals Inc. | New | 2.05% | +2.05 |
| CNTA Centessa Pharmaceuticals Ltd. | New | 2.03% | +2.03 |
| SKYT Skywater Technology Inc. | New | 1.98% | +1.98 |
| MASI Masimo Corp. | New | 1.98% | +1.98 |
| ZIM Zim Integrated Shipping Serv | New | 1.84% | +1.84 |
| WBS Webster Financial Corp. | New | 1.70% | +1.70 |
| CSGS CSG Systems Intl Inc. | Add +747.4% | 1.90% | +1.65 |
| AES AES Corp. | New | 1.57% | +1.57 |
| AAUC Allied Gold Corp. | New | 1.53% | +1.53 |
| THR Thermon Group Holdings Inc. | New | 1.44% | +1.44 |
| WBD Warner Bros Discovery Inc. | Add +174.5% | 2.53% | +1.43 |
| OS Onestream Inc. | New | 1.30% | +1.30 |
| QRVO Qorvo Inc. | Add +93.1% | 3.66% | +1.29 |
| NATL NCR Atleos Corp. | New | 1.22% | +1.22 |
| DAWN Day One Biopharmaceuticals I | New | 1.17% | +1.17 |
| CWAN Clearwater Analytics HDS-A | Add +228.7% | 1.76% | +1.14 |
| STKL Sunopta Inc. | New | 1.13% | +1.13 |
| SEM Select Medical Holdings Corp. | New | 1.13% | +1.13 |
| SNCY Sun Country Airlines Holding | New | 1.10% | +1.10 |
| NSA National Storage Affiliates | New | 1.06% | +1.06 |
| JHG Janus Henderson Group PLC | Add +127.1% | 1.79% | +0.95 |
| DBRG Digitalbridge Group Inc. | Add +282.2% | 1.32% | +0.93 |
| VRE Veris Residential Inc. | New | 0.83% | +0.83 |
| TALK Talkspace Inc. | New | 0.57% | +0.57 |
| KVUE Kenvue Inc. | Add +37.5% | 3.02% | +0.51 |
| SUNC Sunococorp LLC | Add +225.4% | 0.68% | +0.49 |
| CDE Coeur Mining Inc. | New | 0.45% | +0.45 |
| AL Sumisho Air Lease Corp. | Add +23.6% | 5.29% | +0.45 |
| FOLD Amicus Therapeutics Inc. | Add +68.2% | 1.36% | +0.45 |
| TERN Terns Pharmaceuticals Inc. | New | 0.44% | +0.44 |
| COMP Compass Inc. Class A | New | 0.41% | +0.41 |
| SEMR Semrush Holdings Inc. Class A | Add +80.0% | 1.12% | +0.41 |
| STEL Stellar Bancorp Inc. | New | 0.41% | +0.41 |
| CRBG Corebridge Financial Inc. | New | 0.40% | +0.40 |
| TPH Tri Pointe Homes Inc. | New | 0.39% | +0.39 |
| TEX Terex Corp. | New | 0.37% | +0.37 |
| EHAB Enhabit Inc. | New | 0.37% | +0.37 |
| SEE Sealed Air Corp. | Add +46.3% | 1.55% | +0.36 |
| SIMO Silicon Motion Technol-ADR | Add +46.1% | 0.77% | +0.27 |
| EWCZ European Wax Center Inc. Class A | New | 0.26% | +0.26 |
| CCO Clear Channel Outdoor Holdin | New | 0.21% | +0.21 |
| CTRA Coterra Energy Inc. | New | 0.20% | +0.20 |
| IMXI International Money Express | Add +54.0% | 0.56% | +0.16 |
| GOLD RESOURCE CORP | New | 0.14% | +0.14 |
| KW Kennedy-Wilson Holdings Inc. | New | 0.12% | +0.12 |
Options Activity Q4 2025 → Q1 2026
| TECK Teck Resources Ltd.-CLS B | call | Sold out | 380,800 | $18.2Mbefore exit |
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 |