Alpine Investment Management Ltd In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Alpine Investment Management Ltd reported 8 stock positions worth $260.3 million . Its top holding was PDD (PDD) at 30.9% of the portfolio, followed by Alibaba Group Holding-SP ADR (BABA, 18.3% ) and New Oriental Educatio-SP ADR (EDU, 17.3% ). Compared with Q1 2024, it opened 2 new positions, sold out of 6, added to 3 and reduced 3. The biggest buy was a new position in New Oriental Educatio-SP ADR (EDU) and the biggest sale an exit from Taiwan Semiconductor-SP ADR (TSM).
Location HONG KONG, K3
CIK 0001964631
Portfolio Value $260.3M (Q2 2024) Holdings 8 stocks · $260.3M 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 PDD PDD Holdings Inc. 605,000 $80.4M Add +5.2% BABA Alibaba Group Holding-SP ADR 660,000 $47.5M Reduce -38.6% EDU New Oriental Educatio-SP ADR 580,278 $45.1M New MU Micron Technology Inc. 250,000 $32.9M Add +42.9% MOMO Hello Group Inc. -SPN ADR 3,500,000 $21.4M Add +0.5% LVS Las Vegas Sands Corp. 416,684 $18.4M New ARRY Array Technologies Inc. 750,000 $7.7M Reduce -16.7% YMM Full Truck Alliance -SPN ADR 842,256 $6.8M Reduce -73.6%
Options reported separately and not counted above: PDD HOLDINGS INC calls ($281.2M), ALIBABA GROUP HLDG LTD calls ($144.0M), TAIWAN SEMICONDUCTOR MANUFAC calls ($43.5M), ADVANCED MICRO DEVICES INC calls ($20.3M).
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 ▲ TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −14.54 BABA Alibaba Group Holding-SP ADR Reduce -38.6% 18.26% −7.33 YMM Full Truck Alliance -SPN ADR Reduce -73.6% 2.60% −5.02 BKNG Booking Holdings Inc. Sold out 0.00% −2.98 BEKE Ke Holdings Inc.-ADR Sold out 0.00% −2.94 JKS Jinkosolar Holding Co.-ADR Sold out 0.00% −2.49 VALE Vale SA-SP ADR Sold out 0.00% −2.21 ARRY Array Technologies Inc. Reduce -16.7% 2.96% −1.46 FUTU Futu Holdings Ltd.-ADR Sold out 0.00% −1.33
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 ▼ EDU New Oriental Educatio-SP ADR New 17.33% +17.33 PDD PDD Holdings Inc. Add +5.2% 30.90% +8.92 LVS Las Vegas Sands Corp. New 7.08% +7.08 MU Micron Technology Inc. Add +42.9% 12.63% +5.85 MOMO Hello Group Inc. -SPN ADR Add +0.5% 8.23% +1.11
Options Activity Q1 2024 → Q2 2024 Security Type Change vs Q1 2024 Underlying Shares Value ▼ INVESCO QQQ TR call Sold out 12,500 $555.0Mbefore exit PDD HOLDINGS INC call New 21,150 $281.2M ALIBABA GROUP HLDG LTD call New 20,000 $144.0M TAIWAN SEMICONDUCTOR MANUFAC call New 2,500 $43.5M ADVANCED MICRO DEVICES INC call New 1,250 $20.3M ADVANCED MICRO DEVICES INC put Sold out 500 $9.0Mbefore 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 9 $411.2M YMM, PDD, LITE, NVDA, TME Q1 2026 10 $205.9M YMM, BABA, LU, PDD, JOYY Q4 2025 7 $222.6M YMM, PDD, JOYY, NVDA, LU Q3 2025 4 $118.9M YMM, JOYY, LU, AGX Q2 2025 5 $209.0M PDD, YMM, JOYY, ZGN, DECK Q1 2025 5 $107.6M TSM, JOYY, ZGN, MOMO, WB Q4 2024 9 $156.2M PDD, TSM, MU, MOMO, CIEN Q3 2024 5 $150.7M ZTO, YMM, NXT, MOMO, MU Q2 2024 8 $260.3M PDD, BABA, EDU, MU, MOMO Q1 2024 12 $304.0M BABA, PDD, TSM, YMM, MOMO