ACR Alpine Capital Research, LLC Long-Term Concentrated

Location: St. Louis, MO

CIK: 0001508822 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 5, 2026

Total Value: $6.413B (100.0% shares, 0.0% debt)

Holdings (34)

GBIL GOLDMAN SACHS ETF TR 12.6%

Value $811M Shares 8,115,451 Share Price $99.94 Est. Cost/Share $100.08 Unrealized @ Report Date —

FDX FEDEX CORP 7.8%

Value $503M Shares 1,740,634 Share Price $288.86 * Est. Cost/Share $249.41 Unrealized @ Report Date +4.9%

JNJ JOHNSON & JOHNSON 7.2%

Value $463M Shares 2,237,048 Share Price $206.95 * Est. Cost/Share $142.92 Unrealized @ Report Date +37.8%

THO THOR INDS INC 6.6%

Value $424M Shares 4,133,782 Share Price $102.67 Est. Cost/Share $91.11 Unrealized @ Report Date +13.4%

C CITIGROUP INC 6.5%

Value $419M Shares 3,589,696 Share Price $116.69 * Est. Cost/Share $52.12 Unrealized @ Report Date +98.9%

CVX CHEVRON CORP NEW 6.4%

Value $413M Shares 2,710,197 Share Price $152.41 Est. Cost/Share $138.72 Unrealized @ Report Date +9.1%

GM GENERAL MTRS CO 5.9%

Value $381M Shares 4,685,024 Share Price $81.32 * Est. Cost/Share $37.84 Unrealized @ Report Date +86.0%

ARW ARROW ELECTRS INC 5.9%

Value $380M Shares 3,445,593 Share Price $110.18 * Est. Cost/Share $115.26 Unrealized @ Report Date -1.5%

DG DOLLAR GEN CORP NEW 5.4%

Value $349M Shares 2,625,611 Share Price $132.77 * Est. Cost/Share $77.02 Unrealized @ Report Date +44.8%

VOD VODAFONE GROUP PLC NEW 5.4%

Value $344M Shares 26,070,647 Share Price $13.21 Est. Cost/Share $10.01 Unrealized @ Report Date —

MSFT MICROSOFT CORP 5.2%

Value $336M Shares 695,379 Share Price $483.62 * Est. Cost/Share $351.61 Unrealized @ Report Date +42.4%

LEN LENNAR CORP 5.2%

Value $331M Shares 3,215,072 Share Price $102.80 * Est. Cost/Share $126.87 Unrealized @ Report Date -4.9%

MGA MAGNA INTL INC 5.0%

Value $320M Shares 6,006,268 Share Price $53.30 * Est. Cost/Share $46.71 Unrealized @ Report Date +4.6%

JPM JPMORGAN CHASE & CO. 4.9%

Value $315M Shares 977,188 Share Price $322.22 * Est. Cost/Share $157.02 Unrealized @ Report Date +97.1%

LBTYA LIBERTY GLOBAL LTD 3.7%

Value $240M Shares 21,546,970 Share Price $11.14 Est. Cost/Share $11.25 Unrealized @ Report Date -1.6%

BRK/B BERKSHIRE HATHAWAY INC DEL 1.8%

Value $113M Shares 224,988 Share Price $502.65 Est. Cost/Share $313.56 Unrealized @ Report Date +58.7%

LBTYK LIBERTY GLOBAL LTD 1.1%

Value $70.84M Shares 6,416,755 Share Price $11.04 Est. Cost/Share $9.07 Unrealized @ Report Date +22.6%

BRK/A BERKSHIRE HATHAWAY INC DEL 1.0%

Value $64.16M Shares 85 Share Price $754800.00 Est. Cost/Share $692527.00 Unrealized @ Report Date +7.8%

RPV INVESCO EXCHANGE TRADED FD T 0.6%

Value $36.49M Shares 352,994 Share Price $103.36 Est. Cost/Share $103.36 Unrealized @ Report Date —

IAC IAC INC 0.3%

Value $16.85M Shares 430,987 Share Price $39.10 * Est. Cost/Share $38.14 Unrealized @ Report Date -8.2%

SGOV ISHARES TR 0.3%

Value $16.32M Shares 162,305 Share Price $100.56 Est. Cost/Share $100.64 Unrealized @ Report Date —

DELL DELL TECHNOLOGIES INC 0.2%

Value $13.45M Shares 106,822 Share Price $125.88 * Est. Cost/Share $68.32 Unrealized @ Report Date +106.0%

BCS BARCLAYS PLC 0.2%

Value $11.55M Shares 454,000 Share Price $25.45 Est. Cost/Share $7.67 Unrealized @ Report Date —

FPH FIVE POINT HOLDINGS LLC 0.1%

Value $6.231M Shares 1,114,757 Share Price $5.59 * Est. Cost/Share $4.11 Unrealized @ Report Date +43.9%

JEF JEFFERIES FINL GROUP INC 0.1%

Value $5.934M Shares 95,758 Share Price $61.97 * Est. Cost/Share $44.60 Unrealized @ Report Date +27.1%

SMBC SOUTHERN MO BANCORP INC 0.1%

Value $5.382M Shares 91,032 Share Price $59.12 * Est. Cost/Share $46.82 Unrealized @ Report Date +17.6%

VGSH VANGUARD SCOTTSDALE FDS 0.1%

Value $5.08M Shares 86,500 Share Price $58.73 Est. Cost/Share $58.73 Unrealized @ Report Date —

KW KENNEDY-WILSON HOLDINGS INC 0.1%

Value $4.53M Shares 468,476 Share Price $9.67 * Est. Cost/Share $8.66 Unrealized @ Report Date +3.5%

MRK MERCK & CO INC 0.1%

Value $3.884M Shares 36,896 Share Price $105.26 * Est. Cost/Share $89.31 Unrealized @ Report Date +4.4%

LILAK LIBERTY LATIN AMERICA LTD 0.0%

Value $3.118M Shares 417,972 Share Price $7.46 * Est. Cost/Share $6.91 Unrealized @ Report Date +19.1%

LEN/B LENNAR CORP 0.0%

Value $2.871M Shares 30,188 Share Price $95.12 * Est. Cost/Share $91.22 Unrealized @ Report Date +23.6%

MGM MGM RESORTS INTERNATIONAL 0.0%

Value $2.39M Shares 65,506 Share Price $36.49 * Est. Cost/Share $40.77 Unrealized @ Report Date -16.8%

APG API GROUP CORP 0.0%

Value $2.355M Shares 61,560 Share Price $38.26 * Est. Cost/Share $29.39 Unrealized @ Report Date +25.8%

NFE NEW FORTRESS ENERGY INC 0.0%

Value $137K Shares 120,000 Share Price $1.14 * Est. Cost/Share $2.85 Unrealized @ Report Date -48.2%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
GBIL	GOLDMAN SACHS ETF TR	8,115,451	$811M	12.6%	$99.94	$100.08	—	ACCES TREASURY	381430529
FDX	FEDEX CORP	1,740,634	$503M	7.8%	$288.86 *	$249.41	+4.9%	COM	31428X106
JNJ	JOHNSON & JOHNSON	2,237,048	$463M	7.2%	$206.95 *	$142.92	+37.8%	COM	478160104
THO	THOR INDS INC	4,133,782	$424M	6.6%	$102.67	$91.11	+13.4%	COM	885160101
C	CITIGROUP INC	3,589,696	$419M	6.5%	$116.69 *	$52.12	+98.9%	COM NEW	172967424
CVX	CHEVRON CORP NEW	2,710,197	$413M	6.4%	$152.41	$138.72	+9.1%	COM	166764100
GM	GENERAL MTRS CO	4,685,024	$381M	5.9%	$81.32 *	$37.84	+86.0%	COM	37045V100
ARW	ARROW ELECTRS INC	3,445,593	$380M	5.9%	$110.18 *	$115.26	-1.5%	COM	042735100
DG	DOLLAR GEN CORP NEW	2,625,611	$349M	5.4%	$132.77 *	$77.02	+44.8%	COM	256677105
VOD	VODAFONE GROUP PLC NEW	26,070,647	$344M	5.4%	$13.21	$10.01	—	SPONSORED ADR	92857W308
MSFT	MICROSOFT CORP	695,379	$336M	5.2%	$483.62 *	$351.61	+42.4%	COM	594918104
LEN	LENNAR CORP	3,215,072	$331M	5.2%	$102.80 *	$126.87	-4.9%	CL A	526057104
MGA	MAGNA INTL INC	6,006,268	$320M	5.0%	$53.30 *	$46.71	+4.6%	COM	559222401
JPM	JPMORGAN CHASE & CO.	977,188	$315M	4.9%	$322.22 *	$157.02	+97.1%	COM	46625H100
LBTYA	LIBERTY GLOBAL LTD	21,546,970	$240M	3.7%	$11.14	$11.25	-1.6%	COM CL A	G61188101
BRK/B	BERKSHIRE HATHAWAY INC DEL	224,988	$113M	1.8%	$502.65	$313.56	+58.7%	CL B NEW	084670702
LBTYK	LIBERTY GLOBAL LTD	6,416,755	$70.84M	1.1%	$11.04	$9.07	+22.6%	COM CL C	G61188127
BRK/A	BERKSHIRE HATHAWAY INC DEL	85	$64.16M	1.0%	$754800.00	$692527.00	+7.8%	CL A	084670108
RPV	INVESCO EXCHANGE TRADED FD T	352,994	$36.49M	0.6%	$103.36	$103.36	—	S&P500 PUR VAL	46137V258
IAC	IAC INC	430,987	$16.85M	0.3%	$39.10 *	$38.14	-8.2%	COM NEW	44891N208
SGOV	ISHARES TR	162,305	$16.32M	0.3%	$100.56	$100.64	—	0-3 MNTH TREASRY	46436E718
DELL	DELL TECHNOLOGIES INC	106,822	$13.45M	0.2%	$125.88 *	$68.32	+106.0%	CL C	24703L202
BCS	BARCLAYS PLC	454,000	$11.55M	0.2%	$25.45	$7.67	—	ADR	06738E204
FPH	FIVE POINT HOLDINGS LLC	1,114,757	$6.231M	0.1%	$5.59 *	$4.11	+43.9%	COM CL A	33833Q106
JEF	JEFFERIES FINL GROUP INC	95,758	$5.934M	0.1%	$61.97 *	$44.60	+27.1%	COM	47233W109
SMBC	SOUTHERN MO BANCORP INC	91,032	$5.382M	0.1%	$59.12 *	$46.82	+17.6%	COM	843380106
VGSH	VANGUARD SCOTTSDALE FDS	86,500	$5.08M	0.1%	$58.73	$58.73	—	SHORT TERM TREAS	92206C102
KW	KENNEDY-WILSON HOLDINGS INC	468,476	$4.53M	0.1%	$9.67 *	$8.66	+3.5%	COM	489398107
MRK	MERCK & CO INC	36,896	$3.884M	0.1%	$105.26 *	$89.31	+4.4%	COM	58933Y105
LILAK	LIBERTY LATIN AMERICA LTD	417,972	$3.118M	0.0%	$7.46 *	$6.91	+19.1%	COM CL C	G9001E128
LEN/B	LENNAR CORP	30,188	$2.871M	0.0%	$95.12 *	$91.22	+23.6%	CL B	526057302
MGM	MGM RESORTS INTERNATIONAL	65,506	$2.39M	0.0%	$36.49 *	$40.77	-16.8%	COM	552953101
APG	API GROUP CORP	61,560	$2.355M	0.0%	$38.26 *	$29.39	+25.8%	COM STK	00187Y100
NFE	NEW FORTRESS ENERGY INC	120,000	$137K	0.0%	$1.14 *	$2.85	-48.2%	COM CL A	644393100