ACR Alpine Capital Research, LLC Long-Term Concentrated

CIK: 0001508822 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 5, 2026

Total Value ($000): $6,413,298 (100.0% shares, 0.0% debt)

Holdings (34)

New Positions (2)

RPV INVESCO EXCHANGE TRADED FD T 0.6%

Value ($000) $36,485 Shares 352,994 Est. Cost $103.36 Unrealized —

VGSH VANGUARD SCOTTSDALE FDS 0.1%

Value ($000) $5,080 Shares 86,500 Est. Cost $58.73 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RPV	INVESCO EXCHANGE TRADED FD T	352,994	$36,485	0.6%	$103.36	—	S&P500 PUR VAL	46137V258
VGSH	VANGUARD SCOTTSDALE FDS	86,500	$5,080	0.1%	$58.73	—	SHORT TERM TREAS	92206C102

Increased Positions (15)

GBIL GOLDMAN SACHS ETF TR 12.6%

Value ($000) $811,058 (+69.7%) Shares 8,115,451 (+70.2%) Est. Cost $100.08 Unrealized —

ARW ARROW ELECTRS INC 5.9%

Value ($000) $379,635 (+29.8%) Shares 3,445,593 (+42.6%) Est. Cost $115.26 Unrealized -1.5%

LEN LENNAR CORP 5.2%

Value ($000) $330,509 (-9.0%) Shares 3,215,072 (+11.6%) Est. Cost $126.87 Unrealized -4.9%

CVX CHEVRON CORP NEW 6.4%

Value ($000) $413,061 (+7.6%) Shares 2,710,197 (+9.7%) Est. Cost $138.72 Unrealized +9.1%

IAC IAC INC 0.3%

Value ($000) $16,852 (+172.2%) Shares 430,987 (+137.2%) Est. Cost $38.14 Unrealized -8.2%

SGOV ISHARES TR 0.3%

Value ($000) $16,321 (+68.8%) Shares 162,305 (+69.1%) Est. Cost $100.64 Unrealized —

LBTYA LIBERTY GLOBAL LTD 3.7%

Value ($000) $240,033 (-1.4%) Shares 21,546,970 (+1.5%) Est. Cost $11.25 Unrealized -1.6%

KW KENNEDY-WILSON HOLDINGS INC 0.1%

Value ($000) $4,530 (+193.4%) Shares 468,476 (+152.4%) Est. Cost $8.66 Unrealized +3.5%

SMBC SOUTHERN MO BANCORP INC 0.1%

Value ($000) $5,382 (+92.4%) Shares 91,032 (+71.1%) Est. Cost $46.82 Unrealized +17.6%

JEF JEFFERIES FINL GROUP INC 0.1%

Value ($000) $5,934 (+70.0%) Shares 95,758 (+79.5%) Est. Cost $44.60 Unrealized +27.1%

DELL DELL TECHNOLOGIES INC 0.2%

Value ($000) $13,447 (-9.9%) Shares 106,822 (+1.5%) Est. Cost $68.32 Unrealized +106.0%

MRK MERCK & CO INC 0.1%

Value ($000) $3,884 (+28.0%) Shares 36,896 (+2.1%) Est. Cost $89.31 Unrealized +4.4%

LEN/B LENNAR CORP 0.0%

Value ($000) $2,871 (-17.1%) Shares 30,188 (+4.5%) Est. Cost $91.22 Unrealized +23.6%

APG API GROUP CORP 0.0%

Value ($000) $2,355 (+13.9%) Shares 61,560 (+2.3%) Est. Cost $29.39 Unrealized +25.8%

FPH FIVE POINT HOLDINGS LLC 0.1%

Value ($000) $6,231 (-4.3%) Shares 1,114,757 (+4.9%) Est. Cost $4.11 Unrealized +43.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GBIL	GOLDMAN SACHS ETF TR	8,115,451 (+70.2%)	$811,058 (+69.7%)	12.6%	$100.08	—	ACCES TREASURY	381430529
ARW	ARROW ELECTRS INC	3,445,593 (+42.6%)	$379,635 (+29.8%)	5.9%	$115.26	-1.5%	COM	042735100
LEN	LENNAR CORP	3,215,072 (+11.6%)	$330,509 (-9.0%)	5.2%	$126.87	-4.9%	CL A	526057104
CVX	CHEVRON CORP NEW	2,710,197 (+9.7%)	$413,061 (+7.6%)	6.4%	$138.72	+9.1%	COM	166764100
IAC	IAC INC	430,987 (+137.2%)	$16,852 (+172.2%)	0.3%	$38.14	-8.2%	COM NEW	44891N208
SGOV	ISHARES TR	162,305 (+69.1%)	$16,321 (+68.8%)	0.3%	$100.64	—	0-3 MNTH TREASRY	46436E718
LBTYA	LIBERTY GLOBAL LTD	21,546,970 (+1.5%)	$240,033 (-1.4%)	3.7%	$11.25	-1.6%	COM CL A	G61188101
KW	KENNEDY-WILSON HOLDINGS INC	468,476 (+152.4%)	$4,530 (+193.4%)	0.1%	$8.66	+3.5%	COM	489398107
SMBC	SOUTHERN MO BANCORP INC	91,032 (+71.1%)	$5,382 (+92.4%)	0.1%	$46.82	+17.6%	COM	843380106
JEF	JEFFERIES FINL GROUP INC	95,758 (+79.5%)	$5,934 (+70.0%)	0.1%	$44.60	+27.1%	COM	47233W109
DELL	DELL TECHNOLOGIES INC	106,822 (+1.5%)	$13,447 (-9.9%)	0.2%	$68.32	+106.0%	CL C	24703L202
MRK	MERCK & CO INC	36,896 (+2.1%)	$3,884 (+28.0%)	0.1%	$89.31	+4.4%	COM	58933Y105
LEN/B	LENNAR CORP	30,188 (+4.5%)	$2,871 (-17.1%)	0.0%	$91.22	+23.6%	CL B	526057302
APG	API GROUP CORP	61,560 (+2.3%)	$2,355 (+13.9%)	0.0%	$29.39	+25.8%	COM STK	00187Y100
FPH	FIVE POINT HOLDINGS LLC	1,114,757 (+4.9%)	$6,231 (-4.3%)	0.1%	$4.11	+43.9%	COM CL A	33833Q106

Exited Positions (3)

CORZ CORE SCIENTIFIC INC NEW 0.0%

Value ($000) $2,781 Shares 155,000 Est. Cost $10.70 Unrealized +63.0%

SLDP SOLID POWER INC 0.0%

Value ($000) $295 Shares 85,000 Est. Cost $4.69 Unrealized +17.6%

NINEQ NINE ENERGY SERVICE INC 0.0%

Value ($000) $9 Shares 15,000 Est. Cost $5.47 Unrealized -91.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CORZ	CORE SCIENTIFIC INC NEW	155,000	$2,781	0.0%	$10.70	+63.0%	—	21874A106
SLDP	SOLID POWER INC	85,000	$295	0.0%	$4.69	+17.6%	—	83422N105
NINEQ	NINE ENERGY SERVICE INC	15,000	$9	0.0%	$5.47	-91.0%	—	65441V101

Decreased Positions (7)

GM GENERAL MTRS CO 5.9%

Value ($000) $380,986 (-13.7%) Shares 4,685,024 (-35.3%) Est. Cost $37.84 Unrealized +86.0%

DG DOLLAR GEN CORP NEW 5.4%

Value ($000) $348,602 (-13.4%) Shares 2,625,611 (-32.6%) Est. Cost $77.02 Unrealized +44.8%

MGA MAGNA INTL INC 5.0%

Value ($000) $320,134 (+11.2%) Shares 6,006,268 (-1.1%) Est. Cost $46.71 Unrealized +4.6%

JPM JPMORGAN CHASE & CO. 4.9%

Value ($000) $314,869 (-9.3%) Shares 977,188 (-11.2%) Est. Cost $157.02 Unrealized +97.1%

LBTYK LIBERTY GLOBAL LTD 1.1%

Value ($000) $70,841 (-15.4%) Shares 6,416,755 (-9.9%) Est. Cost $9.07 Unrealized +22.6%

MGM MGM RESORTS INTERNATIONAL 0.0%

Value ($000) $2,390 (-61.9%) Shares 65,506 (-63.8%) Est. Cost $40.77 Unrealized -16.8%

LILAK LIBERTY LATIN AMERICA LTD 0.0%

Value ($000) $3,118 (-37.1%) Shares 417,972 (-28.8%) Est. Cost $6.91 Unrealized +19.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GM	GENERAL MTRS CO	4,685,024 (-35.3%)	$380,986 (-13.7%)	5.9%	$37.84	+86.0%	COM	37045V100
DG	DOLLAR GEN CORP NEW	2,625,611 (-32.6%)	$348,602 (-13.4%)	5.4%	$77.02	+44.8%	COM	256677105
MGA	MAGNA INTL INC	6,006,268 (-1.1%)	$320,134 (+11.2%)	5.0%	$46.71	+4.6%	COM	559222401
JPM	JPMORGAN CHASE & CO.	977,188 (-11.2%)	$314,869 (-9.3%)	4.9%	$157.02	+97.1%	COM	46625H100
LBTYK	LIBERTY GLOBAL LTD	6,416,755 (-9.9%)	$70,841 (-15.4%)	1.1%	$9.07	+22.6%	COM CL C	G61188127
MGM	MGM RESORTS INTERNATIONAL	65,506 (-63.8%)	$2,390 (-61.9%)	0.0%	$40.77	-16.8%	COM	552953101
LILAK	LIBERTY LATIN AMERICA LTD	417,972 (-28.8%)	$3,118 (-37.1%)	0.0%	$6.91	+19.1%	COM CL C	G9001E128

Unchanged Positions (10)

FDX FEDEX CORP 7.8%

Value ($000) $502,800 Shares 1,740,634 Est. Cost $249.41 Unrealized +4.9%

C CITIGROUP INC 6.5%

Value ($000) $418,882 Shares 3,589,696 Est. Cost $52.12 Unrealized +98.9%

JNJ JOHNSON & JOHNSON 7.2%

Value ($000) $462,957 Shares 2,237,048 Est. Cost $142.92 Unrealized +37.8%

VOD VODAFONE GROUP PLC NEW 5.4%

Value ($000) $344,393 Shares 26,070,647 Est. Cost $10.01 Unrealized —

MSFT MICROSOFT CORP 5.2%

Value ($000) $336,299 Shares 695,379 Est. Cost $351.61 Unrealized +42.4%

BCS BARCLAYS PLC 0.2%

Value ($000) $11,554 Shares 454,000 Est. Cost $7.67 Unrealized —

THO THOR INDS INC 6.6%

Value ($000) $424,415 Shares 4,133,782 Est. Cost $91.11 Unrealized +13.4%

BRK/B BERKSHIRE HATHAWAY INC DEL 1.8%

Value ($000) $113,090 Shares 224,988 Est. Cost $313.56 Unrealized +58.7%

NFE NEW FORTRESS ENERGY INC 0.0%

Value ($000) $137 Shares 120,000 Est. Cost $2.85 Unrealized -48.2%

BRK/A BERKSHIRE HATHAWAY INC DEL 1.0%

Value ($000) $64,158 Shares 85 Est. Cost $692527.00 Unrealized +7.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FDX	FEDEX CORP	1,740,634	$502,800	7.8%	$249.41	+4.9%	COM	31428X106
C	CITIGROUP INC	3,589,696	$418,882	6.5%	$52.12	+98.9%	COM NEW	172967424
JNJ	JOHNSON & JOHNSON	2,237,048	$462,957	7.2%	$142.92	+37.8%	COM	478160104
VOD	VODAFONE GROUP PLC NEW	26,070,647	$344,393	5.4%	$10.01	—	SPONSORED ADR	92857W308
MSFT	MICROSOFT CORP	695,379	$336,299	5.2%	$351.61	+42.4%	COM	594918104
BCS	BARCLAYS PLC	454,000	$11,554	0.2%	$7.67	—	ADR	06738E204
THO	THOR INDS INC	4,133,782	$424,415	6.6%	$91.11	+13.4%	COM	885160101
BRK/B	BERKSHIRE HATHAWAY INC DEL	224,988	$113,090	1.8%	$313.56	+58.7%	CL B NEW	084670702
NFE	NEW FORTRESS ENERGY INC	120,000	$137	0.0%	$2.85	-48.2%	COM CL A	644393100
BRK/A	BERKSHIRE HATHAWAY INC DEL	85	$64,158	1.0%	$692527.00	+7.8%	CL A	084670108