Alpine Investment Management Ltd Hedge Fund

CIK: 0001964631 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $384,393 (100.0% shares, 0.0% debt)

Holdings (10)

New Positions (6)

— ALIBABA GROUP HLDG LTD 10.5%

Value ($000) $40,310 Shares 2,750 Est. Cost — Unrealized —

PDD PDD HOLDINGS INC 9.0%

Value ($000) $34,720 Shares 306,198 Est. Cost $113.39 Unrealized —

NVDA NVIDIA CORPORATION 8.0%

Value ($000) $30,847 Shares 165,400 Est. Cost $186.13 Unrealized 0.0%

— ADVANCED MICRO DEVICES INC 7.0%

Value ($000) $26,770 Shares 1,250 Est. Cost — Unrealized —

BABA ALIBABA GROUP HLDG LTD 5.3%

Value ($000) $20,345 Shares 138,800 Est. Cost $146.58 Unrealized —

WB WEIBO CORP 1.0%

Value ($000) $3,945 Shares 386,000 Est. Cost $10.22 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ALIBABA GROUP HLDG LTD	2,750	$40,310	10.5%	—	—	PUT	01609W952
PDD	PDD HOLDINGS INC	306,198	$34,720	9.0%	$113.39	—	SPONSORED ADR	722304102
NVDA	NVIDIA CORPORATION	165,400	$30,847	8.0%	$186.13	0.0%	COM	67066G104
—	ADVANCED MICRO DEVICES INC	1,250	$26,770	7.0%	—	—	PUT	007903957
BABA	ALIBABA GROUP HLDG LTD	138,800	$20,345	5.3%	$146.58	—	SPONSORED ADS	01609W102
WB	WEIBO CORP	386,000	$3,945	1.0%	$10.22	—	SPONSORED ADR	948596101

Increased Positions (2)

YMM FULL TRUCK ALLIANCE CO LTD 20.8%

Value ($000) $79,883 (+54.0%) Shares 7,444,800 (+86.1%) Est. Cost $11.31 Unrealized —

LU LUFAX HOLDING LTD 5.4%

Value ($000) $20,753 (+21.0%) Shares 8,106,500 (+91.9%) Est. Cost $3.34 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
YMM	FULL TRUCK ALLIANCE CO LTD	7,444,800 (+86.1%)	$79,883 (+54.0%)	20.8%	$11.31	—	SPONSORED ADS	35969L108
LU	LUFAX HOLDING LTD	8,106,500 (+91.9%)	$20,753 (+21.0%)	5.4%	$3.34	—	SPONSORED ADR	54975P201

Exited Positions (1)

AGX ARGAN INC 4.2%

Value ($000) $16,203 Shares 60,000 Est. Cost $228.35 Unrealized +38.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AGX	ARGAN INC	60,000	$16,203	4.2%	$228.35	+38.8%	—	04010E109

Decreased Positions (2)

— PDD HOLDINGS INC 24.6%

Value ($000) $94,681 (-46.3%) Shares 8,350 (-37.5%) Est. Cost — Unrealized —

JOYY JOYY INC 8.4%

Value ($000) $32,140 (-4.6%) Shares 496,300 (-13.7%) Est. Cost $41.98 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	PDD HOLDINGS INC	8,350 (-37.5%)	$94,681 (-46.3%)	24.6%	—	—	CALL	722304902
JOYY	JOYY INC	496,300 (-13.7%)	$32,140 (-4.6%)	8.4%	$41.98	—	ADS REPSTG COM A	46591M109