ALPINE ASSOCIATES MANAGEMENT INC. Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EXAS	EXACT SCIENCES CORP	805,500	$81,807	5.4%	$80.31	0.0%	COM	30063P105
NGD	NEW GOLD INC CDA	9,363,161	$81,553	5.4%	$7.53	0.0%	COM	644535106
BA	BOEING CO	294,701	$63,985	4.3%	$205.66	0.0%	COM	097023105
RNA	AVIDITY BIOSCIENCES INC	867,530	$62,575	4.2%	$64.59	0.0%	COM	05370A108
—	CIDARA THERAPEUTICS INC	208,560	$46,069	3.1%	$220.89	—	COM NEW	171757206
KVUE	KENVUE INC	2,158,626	$37,236	2.5%	$16.26	0.0%	COM	49177J102
QRVO	QORVO INC	415,059	$35,077	2.3%	$88.25	0.0%	COM	74736K101
HOLX	HOLOGIC INC	435,350	$32,429	2.2%	$73.07	0.0%	COM	436440101
BHF	BRIGHTHOUSE FINL INC	372,683	$24,146	1.6%	$58.76	0.0%	COM	10922N103
CMA	COMERICA INC	240,376	$20,896	1.4%	$79.98	0.0%	COM	200340107
CFLT	CONFLUENT INC	610,500	$18,462	1.2%	$24.55	0.0%	CLASS A COM	20717M103
SEE	SEALED AIR CORP NEW	427,100	$17,695	1.2%	$38.57	0.0%	COM	81211K100
—	HILLENBRAND INC	548,200	$17,389	1.2%	$31.72	—	COM	431571108
WBD	WARNER BROS DISCOVERY INC	570,000	$16,427	1.1%	$23.37	0.0%	COM SER A	934423104
FOLD	AMICUS THERAPEUTICS INC	949,200	$13,517	0.9%	$9.82	0.0%	COM	03152W109
JHG	JANUS HENDERSON GROUP PLC	260,042	$12,370	0.8%	$44.24	0.0%	ORD SHS	G4474Y214
—	REV GROUP INC	202,491	$12,313	0.8%	$60.81	—	COM	749527107
—	JAMF HLDG CORP	940,798	$12,240	0.8%	$13.01	—	COM	47074L105
—	AVADEL PHARMACEUTICALS PLC	525,550	$11,326	0.8%	$21.55	—	COM SHS	G29687103
RKT	ROCKET COS INC	574,254	$11,118	0.7%	$17.88	0.0%	COM CL A	77311W101
SEMR	SEMRUSH HLDGS INC	879,994	$10,463	0.7%	$9.37	0.0%	CL A COM	81686C104
VECO	VEECO INSTRS INC DEL	353,400	$10,100	0.7%	$29.65	0.0%	COM	922417100
—	ASTRIA THERAPEUTICS INC	728,922	$9,542	0.6%	$13.09	—	COM	04635X102
CWAN	CLEARWATER ANALYTICS HLDGS I	385,000	$9,286	0.6%	$20.03	0.0%	CL A	185123106
—	DYNAVAX TECHNOLOGIES CORP	475,000	$7,306	0.5%	$15.38	—	COM NEW	268158201
DBRG	DIGITALBRIDGE GROUP INC	380,000	$5,829	0.4%	$12.01	0.0%	CL A NEW	25401T603
TWO	TWO HBRS INVT CORP	474,600	$4,983	0.3%	$10.50	—	COM	90187B804
ALEX	ALEXANDER & BALDWIN INC NEW	228,294	$4,712	0.3%	$20.64	—	COM	014491104
FRGE	FORGE GLOBAL HOLDINGS INC	98,107	$4,372	0.3%	$33.80	0.0%	COM SHS	34629L202
PCH	POTLATCHDELTIC CORPORATION	95,600	$3,803	0.3%	$39.78	—	COM	737630103
CSGS	CSG SYS INTL INC	47,500	$3,643	0.2%	$73.52	0.0%	COM	126349109
UDMY	UDEMY INC	569,800	$3,333	0.2%	$5.83	0.0%	COM	902685106
SUNC	SUNOCOCORP LLC	57,376	$2,827	0.2%	$49.49	0.0%	COM SHS LLC	86765Q106
CIVI	CIVITAS RESOURCES INC	94,700	$2,565	0.2%	$28.53	0.0%	COM NEW	17888H103
QCOM	QUALCOMM INC	14,403	$2,464	0.2%	$170.79	0.0%	COM	747525103
—	TREEHOUSE FOODS INC	94,750	$2,235	0.1%	$23.59	—	COM	89469A104
EB	EVENTBRITE INC	500,000	$2,225	0.1%	$3.10	0.0%	COM CL A	29975E109
AXTA	AXALTA COATING SYS LTD	47,400	$1,531	0.1%	$29.34	0.0%	COM	G0750C108
IAG	IAMGOLD CORP	69,482	$1,147	0.1%	$14.09	0.0%	COM	450913108
GETY	GETTY IMAGES HOLDINGS INC	94,500	$127	0.0%	$1.72	0.0%	CL A COM	374275105

Increased Positions (12)

AL AIR LEASE CORP 4.8%

Value ($000) $71,851 (+2261.5%) Shares 1,118,656 (+2240.1%) Est. Cost $63.51 Unrealized +0.3%

EA ELECTRONIC ARTS INC 3.7%

Value ($000) $55,455 (+159.4%) Shares 271,400 (+156.0%) Est. Cost $187.47 Unrealized +7.6%

— ANYWHERE REAL ESTATE INC 1.3%

Value ($000) $19,785 (+180.0%) Shares 1,397,243 (+109.4%) Est. Cost $12.45 Unrealized —

— DAYFORCE INC 1.5%

Value ($000) $23,129 (+118.1%) Shares 334,426 (+117.2%) Est. Cost $65.79 Unrealized +4.6%

TXNM TXNM ENERGY INC 2.0%

Value ($000) $29,841 (+45.2%) Shares 506,807 (+39.4%) Est. Cost $56.14 Unrealized +2.8%

TECK TECK RESOURCES LTD 1.2%

Value ($000) $18,237 (+22.7%) Shares 380,800 (+12.4%) Est. Cost — Unrealized —

SSTK SHUTTERSTOCK INC 1.5%

Value ($000) $22,060 (+17.2%) Shares 1,154,955 (+28.0%) Est. Cost $23.00 Unrealized -7.1%

TGNA TEGNA INC 1.2%

Value ($000) $18,563 (+18.8%) Shares 956,367 (+24.5%) Est. Cost $19.20 Unrealized +2.9%

AMWD AMERICAN WOODMARK CORPORATIO 0.8%

Value ($000) $12,226 (-12.6%) Shares 226,833 (+8.3%) Est. Cost $61.15 Unrealized -4.2%

AHL ASPEN INSURANCE HOLDINGS LTD 0.6%

Value ($000) $9,367 (+17.9%) Shares 252,487 (+16.7%) Est. Cost $33.45 Unrealized +10.3%

— SOHO HOUSE & CO INC 0.7%

Value ($000) $10,396 (+7.2%) Shares 1,160,256 (+5.8%) Est. Cost $8.86 Unrealized —

— STRIVE INC 0.0%

Value ($000) $339 (-52.7%) Shares 459,475 (+60.3%) Est. Cost $1.84 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AL	AIR LEASE CORP	1,118,656 (+2240.1%)	$71,851 (+2261.5%)	4.8%	$63.51	+0.3%	CL A	00912X302
EA	ELECTRONIC ARTS INC	271,400 (+156.0%)	$55,455 (+159.4%)	3.7%	$187.47	+7.6%	COM	285512109
—	ANYWHERE REAL ESTATE INC	1,397,243 (+109.4%)	$19,785 (+180.0%)	1.3%	$12.45	—	COM	75605Y106
—	DAYFORCE INC	334,426 (+117.2%)	$23,129 (+118.1%)	1.5%	$65.79	+4.6%	COM	15677J108
TXNM	TXNM ENERGY INC	506,807 (+39.4%)	$29,841 (+45.2%)	2.0%	$56.14	+2.8%	COM	69349H107
TECK	TECK RESOURCES LTD	380,800 (+12.4%)	$18,237 (+22.7%)	1.2%	—	—	CALL	878742204
SSTK	SHUTTERSTOCK INC	1,154,955 (+28.0%)	$22,060 (+17.2%)	1.5%	$23.00	-7.1%	COM	825690100
TGNA	TEGNA INC	956,367 (+24.5%)	$18,563 (+18.8%)	1.2%	$19.20	+2.9%	COM	87901J105
AMWD	AMERICAN WOODMARK CORPORATIO	226,833 (+8.3%)	$12,226 (-12.6%)	0.8%	$61.15	-4.2%	COM	030506109
AHL	ASPEN INSURANCE HOLDINGS LTD	252,487 (+16.7%)	$9,367 (+17.9%)	0.6%	$33.45	+10.3%	ORD SHS CL A	G05384501
—	SOHO HOUSE & CO INC	1,160,256 (+5.8%)	$10,396 (+7.2%)	0.7%	$8.86	—	COM CL A	586001109
—	STRIVE INC	459,475 (+60.3%)	$339 (-52.7%)	0.0%	$1.84	—	CL A COM	862945102

Exited Positions (40)

— VERONA PHARMA PLC 8.2%

Value ($000) $123,469 Shares 1,157,050 Est. Cost $106.71 Unrealized —

— KELLANOVA 7.2%

Value ($000) $107,666 Shares 1,312,677 Est. Cost $77.10 Unrealized +7.2%

— SPIRIT AEROSYSTEMS HLDGS INC 6.8%

Value ($000) $101,707 Shares 2,634,904 Est. Cost $32.87 Unrealized —

— MR COOPER GROUP INC 5.8%

Value ($000) $86,581 Shares 406,140 Est. Cost $151.94 Unrealized —

— MERUS N V 5.2%

Value ($000) $78,672 Shares 835,600 Est. Cost $94.15 Unrealized —

— INTERPUBLIC GROUP COS INC 3.6%

Value ($000) $53,399 Shares 1,913,244 Est. Cost $26.23 Unrealized -1.0%

— SANDSTORM GOLD LTD 3.1%

Value ($000) $47,173 Shares 3,767,815 Est. Cost $12.52 Unrealized —

— INFORMATICA INC 2.8%

Value ($000) $41,822 Shares 1,683,653 Est. Cost $24.43 Unrealized —

— ALLETE INC 2.3%

Value ($000) $34,529 Shares 520,018 Est. Cost $63.40 Unrealized —

— WNS HLDGS LTD 1.8%

Value ($000) $27,273 Shares 358,050 Est. Cost $76.17 Unrealized —

— AVIDXCHANGE HOLDINGS INC 1.5%

Value ($000) $22,438 Shares 2,255,100 Est. Cost $9.79 Unrealized —

— CUREVAC N V 0.8%

Value ($000) $12,372 Shares 2,295,422 Est. Cost $5.42 Unrealized —

— STEELCASE INC 0.8%

Value ($000) $12,372 Shares 719,300 Est. Cost $17.20 Unrealized —

— ARIS WATER SOLUTIONS INC 0.8%

Value ($000) $11,704 Shares 474,609 Est. Cost $24.66 Unrealized —

— TELUS INTL CDA INC 0.7%

Value ($000) $11,200 Shares 2,500,000 Est. Cost $4.48 Unrealized —

CCRN CROSS CTRY HEALTHCARE INC 0.7%

Value ($000) $10,934 Shares 770,029 Est. Cost $15.46 Unrealized -29.3%

— METSERA INC 0.7%

Value ($000) $10,215 Shares 195,200 Est. Cost $52.33 Unrealized —

CORZ CORE SCIENTIFIC INC NEW 0.7%

Value ($000) $9,824 Shares 547,600 Est. Cost $14.67 Unrealized +18.9%

— TOURMALINE BIO INC 0.6%

Value ($000) $9,383 Shares 196,177 Est. Cost $47.83 Unrealized —

— VERINT SYS INC 0.6%

Value ($000) $9,216 Shares 455,100 Est. Cost $20.25 Unrealized —

— POTBELLY CORP 0.6%

Value ($000) $8,934 Shares 524,296 Est. Cost $17.04 Unrealized —

— PROS HOLDINGS INC 0.6%

Value ($000) $8,509 Shares 371,408 Est. Cost $22.91 Unrealized —

— ZIMVIE INC 0.5%

Value ($000) $8,012 Shares 423,000 Est. Cost $18.94 Unrealized —

— 89BIO INC 0.5%

Value ($000) $7,788 Shares 529,800 Est. Cost $14.70 Unrealized —

— PERFORMANT HEALTHCARE INC 0.5%

Value ($000) $7,497 Shares 969,869 Est. Cost $7.73 Unrealized —

— MRC GLOBAL INC 0.5%

Value ($000) $7,346 Shares 509,400 Est. Cost $14.19 Unrealized —

— VIMEO INC 0.5%

Value ($000) $7,145 Shares 921,885 Est. Cost $7.75 Unrealized —

— VITAL ENERGY INC 0.4%

Value ($000) $6,630 Shares 392,555 Est. Cost $16.89 Unrealized —

— INTEGRAL AD SCIENCE HLDNG CO 0.4%

Value ($000) $6,520 Shares 641,140 Est. Cost $10.17 Unrealized —

— SCPHARMACEUTICALS INC 0.4%

Value ($000) $5,449 Shares 961,065 Est. Cost $5.67 Unrealized —

— WIDEOPENWEST INC 0.4%

Value ($000) $5,291 Shares 1,025,400 Est. Cost $5.16 Unrealized —

— SAPIENS INTL CORP N V 0.3%

Value ($000) $5,218 Shares 121,339 Est. Cost $43.00 Unrealized —

PAAS PAN AMERN SILVER CORP 0.3%

Value ($000) $4,671 Shares 120,616 Est. Cost $32.15 Unrealized +30.2%

TASK TASKUS INC 0.3%

Value ($000) $4,324 Shares 242,222 Est. Cost $15.23 Unrealized -16.1%

— PREMIER INC 0.2%

Value ($000) $3,457 Shares 124,357 Est. Cost $27.80 Unrealized —

— VERITEX HLDGS INC 0.2%

Value ($000) $3,440 Shares 102,600 Est. Cost $33.53 Unrealized —

— HANESBRANDS INC 0.2%

Value ($000) $2,691 Shares 408,340 Est. Cost $6.59 Unrealized —

— PARAMOUNT GROUP INC 0.1%

Value ($000) $2,010 Shares 307,363 Est. Cost $6.54 Unrealized —

HNI HNI CORP 0.1%

Value ($000) $1,832 Shares 39,100 Est. Cost $47.36 Unrealized -10.8%

SUN SUNOCO LP/SUNOCO FIN CORP 0.0%

Value ($000) $223 Shares 4,457 Est. Cost $50.01 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	VERONA PHARMA PLC	1,157,050	$123,469	8.2%	$106.71	—	—	925050106
—	KELLANOVA	1,312,677	$107,666	7.2%	$77.10	+7.2%	—	487836108
—	SPIRIT AEROSYSTEMS HLDGS INC	2,634,904	$101,707	6.8%	$32.87	—	—	848574109
—	MR COOPER GROUP INC	406,140	$86,581	5.8%	$151.94	—	—	62482R107
—	MERUS N V	835,600	$78,672	5.2%	$94.15	—	—	N5749R100
—	INTERPUBLIC GROUP COS INC	1,913,244	$53,399	3.6%	$26.23	-1.0%	—	460690100
—	SANDSTORM GOLD LTD	3,767,815	$47,173	3.1%	$12.52	—	—	80013R206
—	INFORMATICA INC	1,683,653	$41,822	2.8%	$24.43	—	—	45674M101
—	ALLETE INC	520,018	$34,529	2.3%	$63.40	—	—	018522300
—	WNS HLDGS LTD	358,050	$27,273	1.8%	$76.17	—	—	G98196101
—	AVIDXCHANGE HOLDINGS INC	2,255,100	$22,438	1.5%	$9.79	—	—	05368X102
—	CUREVAC N V	2,295,422	$12,372	0.8%	$5.42	—	—	N2451R105
—	STEELCASE INC	719,300	$12,372	0.8%	$17.20	—	—	858155203
—	ARIS WATER SOLUTIONS INC	474,609	$11,704	0.8%	$24.66	—	—	04041L106
—	TELUS INTL CDA INC	2,500,000	$11,200	0.7%	$4.48	—	—	87975H100
CCRN	CROSS CTRY HEALTHCARE INC	770,029	$10,934	0.7%	$15.46	-29.3%	—	227483104
—	METSERA INC	195,200	$10,215	0.7%	$52.33	—	—	59267L107
CORZ	CORE SCIENTIFIC INC NEW	547,600	$9,824	0.7%	$14.67	+18.9%	—	21874A106
—	TOURMALINE BIO INC	196,177	$9,383	0.6%	$47.83	—	—	89157D105
—	VERINT SYS INC	455,100	$9,216	0.6%	$20.25	—	—	92343X100
—	POTBELLY CORP	524,296	$8,934	0.6%	$17.04	—	—	73754Y100
—	PROS HOLDINGS INC	371,408	$8,509	0.6%	$22.91	—	—	74346Y103
—	ZIMVIE INC	423,000	$8,012	0.5%	$18.94	—	—	98888T107
—	89BIO INC	529,800	$7,788	0.5%	$14.70	—	—	282559103
—	PERFORMANT HEALTHCARE INC	969,869	$7,497	0.5%	$7.73	—	—	71377E105
—	MRC GLOBAL INC	509,400	$7,346	0.5%	$14.19	—	—	55345K103
—	VIMEO INC	921,885	$7,145	0.5%	$7.75	—	—	92719V100
—	VITAL ENERGY INC	392,555	$6,630	0.4%	$16.89	—	—	516806205
—	INTEGRAL AD SCIENCE HLDNG CO	641,140	$6,520	0.4%	$10.17	—	—	45828L108
—	SCPHARMACEUTICALS INC	961,065	$5,449	0.4%	$5.67	—	—	810648105
—	WIDEOPENWEST INC	1,025,400	$5,291	0.4%	$5.16	—	—	96758W101
—	SAPIENS INTL CORP N V	121,339	$5,218	0.3%	$43.00	—	—	G7T16G103
PAAS	PAN AMERN SILVER CORP	120,616	$4,671	0.3%	$32.15	+30.2%	—	697900108
TASK	TASKUS INC	242,222	$4,324	0.3%	$15.23	-16.1%	—	87652V109
—	PREMIER INC	124,357	$3,457	0.2%	$27.80	—	—	74051N102
—	VERITEX HLDGS INC	102,600	$3,440	0.2%	$33.53	—	—	923451108
—	HANESBRANDS INC	408,340	$2,691	0.2%	$6.59	—	—	410345102
—	PARAMOUNT GROUP INC	307,363	$2,010	0.1%	$6.54	—	—	69924R108
HNI	HNI CORP	39,100	$1,832	0.1%	$47.36	-10.8%	—	404251100
SUN	SUNOCO LP/SUNOCO FIN CORP	4,457	$223	0.0%	$50.01	—	—	86765K109

Decreased Positions (14)

SIMO SILICON MOTION TECHNOLOGY CO 0.5%

Value ($000) $7,414 (-68.4%) Shares 79,976 (-67.7%) Est. Cost $66.67 Unrealized —

NSC NORFOLK SOUTHN CORP 9.0%

Value ($000) $135,166 (-10.5%) Shares 468,155 (-6.9%) Est. Cost $276.03 Unrealized +4.6%

STAA STAAR SURGICAL CO 0.7%

Value ($000) $10,774 (-56.1%) Shares 466,607 (-48.9%) Est. Cost $23.84 Unrealized +8.1%

— CYBERARK SOFTWARE LTD 5.6%

Value ($000) $84,910 (-13.9%) Shares 190,355 (-6.8%) Est. Cost $483.15 Unrealized —

GTLS CHART INDS INC 5.9%

Value ($000) $88,872 (-12.8%) Shares 430,936 (-15.4%) Est. Cost $183.79 Unrealized +10.3%

LBRDK LIBERTY BROADBAND CORP 1.5%

Value ($000) $23,053 (-28.7%) Shares 474,349 (-6.8%) Est. Cost $69.01 Unrealized -24.6%

— FRONTIER COMMUNICATIONS PARE 4.8%

Value ($000) $72,773 (-5.6%) Shares 1,911,556 (-7.3%) Est. Cost $35.60 Unrealized —

PRA PROASSURANCE CORP 1.3%

Value ($000) $20,195 (-11.6%) Shares 835,890 (-12.2%) Est. Cost $21.79 Unrealized +10.4%

GENVR GEN DIGITAL INC 0.1%

Value ($000) $1,453 (-45.0%) Shares 329,465 (-13.1%) Est. Cost $8.16 Unrealized —

— SYNOVUS FINL CORP 0.6%

Value ($000) $9,525 (-4.9%) Shares 190,312 (-6.8%) Est. Cost $49.08 Unrealized —

PLYM PLYMOUTH INDL REIT INC 0.3%

Value ($000) $3,972 (-8.6%) Shares 181,555 (-6.8%) Est. Cost $22.33 Unrealized —

— GUESS INC 0.4%

Value ($000) $5,397 (-6.5%) Shares 322,209 (-6.7%) Est. Cost $16.71 Unrealized —

CTLP CANTALOUPE INC 1.3%

Value ($000) $20,288 (-0.8%) Shares 1,910,357 (-1.2%) Est. Cost $9.63 Unrealized +10.1%

IMXI INTERNATIONAL MNY EXPRESS IN 0.4%

Value ($000) $5,996 (+2.5%) Shares 390,333 (-6.8%) Est. Cost $12.39 Unrealized +21.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SIMO	SILICON MOTION TECHNOLOGY CO	79,976 (-67.7%)	$7,414 (-68.4%)	0.5%	$66.67	—	SPONSORED ADR	82706C108
NSC	NORFOLK SOUTHN CORP	468,155 (-6.9%)	$135,166 (-10.5%)	9.0%	$276.03	+4.6%	COM	655844108
STAA	STAAR SURGICAL CO	466,607 (-48.9%)	$10,774 (-56.1%)	0.7%	$23.84	+8.1%	COM PAR $0.01	852312305
—	CYBERARK SOFTWARE LTD	190,355 (-6.8%)	$84,910 (-13.9%)	5.6%	$483.15	—	SHS	M2682V108
GTLS	CHART INDS INC	430,936 (-15.4%)	$88,872 (-12.8%)	5.9%	$183.79	+10.3%	COM	16115Q308
LBRDK	LIBERTY BROADBAND CORP	474,349 (-6.8%)	$23,053 (-28.7%)	1.5%	$69.01	-24.6%	COM SER C	530307305
—	FRONTIER COMMUNICATIONS PARE	1,911,556 (-7.3%)	$72,773 (-5.6%)	4.8%	$35.60	—	COM	35909D109
PRA	PROASSURANCE CORP	835,890 (-12.2%)	$20,195 (-11.6%)	1.3%	$21.79	+10.4%	COM	74267C106
GENVR	GEN DIGITAL INC	329,465 (-13.1%)	$1,453 (-45.0%)	0.1%	$8.16	—	RIGHT 99/99/9999	668771116
—	SYNOVUS FINL CORP	190,312 (-6.8%)	$9,525 (-4.9%)	0.6%	$49.08	—	COM NEW	87161C501
PLYM	PLYMOUTH INDL REIT INC	181,555 (-6.8%)	$3,972 (-8.6%)	0.3%	$22.33	—	COM	729640102
—	GUESS INC	322,209 (-6.7%)	$5,397 (-6.5%)	0.4%	$16.71	—	COM	401617105
CTLP	CANTALOUPE INC	1,910,357 (-1.2%)	$20,288 (-0.8%)	1.3%	$9.63	+10.1%	COM	138103106
IMXI	INTERNATIONAL MNY EXPRESS IN	390,333 (-6.8%)	$5,996 (+2.5%)	0.4%	$12.39	+21.2%	COM	46005L101

Unchanged Positions (1)

SMLR SEMLER SCIENTIFIC INC 0.1%

Value ($000) $1,462 Shares 95,600 Est. Cost $34.40 Unrealized -34.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SMLR	SEMLER SCIENTIFIC INC	95,600	$1,462	0.1%	$34.40	-34.1%	COM	81684M104