# ACR Alpine Capital Research, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1508822. Source: https://holderbook.com/funds/1508822-acr-alpine-capital-research-llc/

- Reported value: $7.0B
- Positions: 38
- Weight of the ten largest: 70.4%
- Filed: 2026-07-29

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| GOLDMAN SACHS ETF TR | [GBIL](https://holderbook.com/stocks/GBIL/) | $1.4B | 13,511,909 | 19.2% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $545.1M | 2,146,488 | 7.7% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $461.0M | 2,780,991 | 6.5% | 26 |
| LENNAR CORP | [LEN](https://holderbook.com/stocks/LEN/) | $429.2M | 4,743,250 | 6.1% | 17 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $423.9M | 1,136,273 | 6.0% | 31 |
| THOR INDS INC | [THO](https://holderbook.com/stocks/THO/) | $415.5M | 5,527,556 | 5.9% | 15 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $348.3M | 1,112,339 | 4.9% | 17 |
| GENERAL MTRS CO | [GM](https://holderbook.com/stocks/GM/) | $342.8M | 4,447,271 | 4.9% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $319.9M | 977,345 | 4.5% | 31 |
| VODAFONE GROUP PLC | [VOD](https://holderbook.com/stocks/VOD/) | $317.7M | 24,019,101 | 4.5% | 31 |
| MAGNA INTL INC | [MGA](https://holderbook.com/stocks/MGA/) | $315.8M | 4,809,078 | 4.5% | 31 |
| ARROW ELECTRS INC | [ARW](https://holderbook.com/stocks/ARW/) | $311.1M | 1,457,881 | 4.4% | 9 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $290.5M | 2,075,702 | 4.1% | 31 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $285.4M | 737,922 | 4.1% | 1 |
| LIBERTY GLOBAL LTD | [LBTYA](https://holderbook.com/stocks/LBTYA/) | $268.3M | 23,595,165 | 3.8% | 11 |
| DOLLAR GEN CORP | [DG](https://holderbook.com/stocks/DG/) | $198.8M | 1,727,299 | 2.8% | 8 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $122.0M | 243,736 | 1.7% | 31 |
| LIBERTY GLOBAL LTD | [LBTYK](https://holderbook.com/stocks/LBTYK/) | $97.3M | 8,841,834 | 1.4% | 11 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $63.7M | 85 | 0.9% | 7 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $25.4M | 58,798 | 0.4% | 31 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $21.8M | 216,767 | 0.3% | 4 |
| PEOPLE INC | [PPLI](https://holderbook.com/stocks/PPLI/) | $13.5M | 291,826 | 0.2% | 21 |
| BARCLAYS PLC | [BCS](https://holderbook.com/stocks/BCS/) | $12.2M | 454,000 | 0.2% | 31 |
| COMSTOCK RES INC | [CRK](https://holderbook.com/stocks/CRK/) | $8.2M | 546,413 | 0.1% | 1 |
| SOUTHERN MO BANCORP INC | [SMBC](https://holderbook.com/stocks/SMBC/) | $6.9M | 91,020 | 0.1% | 22 |
| FIVE POINT HOLDINGS LLC | [FPH](https://holderbook.com/stocks/FPH/) | $6.8M | 1,288,800 | 0.1% | 23 |
| ECHOSTAR CORP | [ECHO](https://holderbook.com/stocks/ECHO/) | $6.7M | 66,050 | 0.1% | 2 |
| JEFFERIES FINANCIAL GROUP IN | [JEF](https://holderbook.com/stocks/JEF/) | $6.5M | 129,527 | 0.1% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $5.3M | 41,146 | 0.1% | 18 |
| ZIFF DAVIS INC | [ZD](https://holderbook.com/stocks/ZD/) | $4.5M | 86,526 | 0.1% | 2 |
| MGM RESORTS INTERNATIONAL | [MGM](https://holderbook.com/stocks/MGM/) | $4.4M | 92,792 | 0.1% | 10 |
| LENNAR CORP | [LENB](https://holderbook.com/stocks/LENB/) | $3.6M | 40,626 | 0.1% | 28 |
| API GROUP CORP | [APG](https://holderbook.com/stocks/APG/) | $2.8M | 66,358 | 0.0% | 6 |
| LIBERTY LATIN AMERICA LTD | [LILAK](https://holderbook.com/stocks/LILAK/) | $2.8M | 354,642 | 0.0% | 31 |
| TALEN ENERGY CORP | [TLN](https://holderbook.com/stocks/TLN/) | $2.5M | 6,500 | 0.0% | 1 |
| INVESCO EXCHANGE TRADED FD T | [RPV](https://holderbook.com/stocks/RPV/) | $475.0K | 4,173 | 0.0% | 1 |
| FEDEX FGHT HLDG CO INC | - | $231.5K | 1,533 | 0.0% | 1 |
| NEW FORTRESS ENERGY INC | [NFE](https://holderbook.com/stocks/NFE/) | $43.6K | 120,000 | 0.0% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +3.9% | +14.8% | -10.9% | 100% |
| Q1 2026 | +3.3% | -4.6% | +8.0% | 100% |
| Q4 2025 | +6.9% | +2.4% | +4.5% | 100% |
| Q3 2025 | +9.4% | +7.8% | +1.5% | 100% |
| Q2 2025 | +5.8% | +10.5% | -4.7% | 100% |
| Q1 2025 | -0.9% | -4.6% | +3.6% | 100% |
| Q4 2024 | -3.5% | +2.1% | -5.7% | 100% |
| Q3 2024 | +4.6% | +5.4% | -0.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $7.0B | 38 |
| Q1 2026 | $6.7B | 36 |
| Q4 2025 | $6.4B | 34 |
| Q3 2025 | $5.9B | 35 |
| Q2 2025 | $5.6B | 36 |
| Q1 2025 | $4.8B | 41 |
| Q4 2024 | $4.6B | 38 |
| Q3 2024 | $3.4B | 37 |
| Q2 2024 | $3.2B | 35 |
| Q1 2024 | $3.3B | 39 |
| Q4 2023 | $3.0B | 39 |
| Q3 2023 | $3.1B | 39 |