1y return+25.5%S&P 500 +20.9%
3y return+47.2%S&P 500 +68.5%
5y return+34.3%S&P 500 +74.5%
10y return+193.5%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $293 against $357 in the S&P 500.2
ACR Alpine Capital Research, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| GBILGoldman Sachs Etf Tr | $1.4B | 19.2% | +21.4% |
| JNJJohnson & Johnson | $545.1M | 7.7% | |
| CVXChevron Corporation | $461.0M | 6.5% | +1.2% |
| LENLennar Corp | $429.2M | 6.1% | +12.6% |
| MSFTMicrosoft Corp | $423.9M | 6.0% | +15.8% |
| THOThor Inds Inc | $415.5M | 5.9% | +12.7% |
| FDXFedex Corp | $348.3M | 4.9% | −1.0% |
| GMGeneral Mtrs Co | $342.8M | 4.9% | +10.5% |
| JPMJpmorgan Chase & Co | $319.9M | 4.5% | |
| VODVodafone Group PLC | $317.7M | 4.5% | −10.6% |
| MGAMagna Intl Inc | $315.8M | 4.5% | |
| ARWArrow Electrs Inc | $311.1M | 4.4% | −59.3% |
| CCitigroup Inc | $290.5M | 4.1% | −41.4% |
| ELVElevance Health Inc Formerly | $285.4M | 4.1% | New |
| Liberty Global LtdCUSIP G61188101 | $268.3M | 3.8% | |
| DGDollar Gen Corp | $198.8M | 2.8% | +53.9% |
| BRK/BBerkshire Hathaway Inc Del | $122.0M | 1.7% | +8.5% |
| Liberty Global LtdCUSIP G61188127 | $97.3M | 1.4% | +28.4% |
| BRK/ABerkshire Hathaway Inc Del | $63.7M | 0.9% | |
| DELLDell Technologies Inc | $25.4M | 0.4% | −49.7% |
| SGOVIshares Tr | $21.8M | 0.3% | −17.1% |
| PPLIPeople Inc | $13.5M | 0.2% | −35.3% |
| BCSBarclays PLC | $12.2M | 0.2% | |
| CRKComstock Res Inc | $8.2M | 0.1% | New |
| SMBCSouthern Mo Bancorp Inc | $6.9M | 0.1% | −3.9% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| DELLDell Technologies Inc | June 30, 2020 | +685.4% | $25.4M |
| BCSBarclays PLC | June 30, 2020 | +374.5% | $12.2M |
| JPMJpmorgan Chase & Co | June 30, 2020 | +248.0% | $319.9M |
| JEFJefferies Financial Group In | June 30, 2020 | +221.4% | $6.5M |
| GMGeneral Mtrs Co | June 30, 2020 | +204.7% | $342.8M |
| BRK/BBerkshire Hathaway Inc Del | June 30, 2020 | +180.3% | $122.0M |
| CCitigroup Inc | June 30, 2020 | +173.9% | $290.5M |
| SMBCSouthern Mo Bancorp Inc | March 31, 2021 | +93.3% | $6.9M |
| LEN/BLennar Corp | June 30, 2020 | +92.5% | $3.6M |
| CVXChevron Corporation | June 30, 2020 | +85.8% | $461.0M |
Sold off last quarter
- Diamond Hill Invt Group IncCUSIP 25264R207 was $4.1M
- Kennedy-wilson Holdings IncCUSIP 489398107 was $3.8M
- NINENine Energy Service Inc was $279K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +3.9% | +14.8% |
| March 31, 2026 | +3.3% | −4.6% |
| December 31, 2025 | +6.9% | +2.4% |
| September 30, 2025 | +9.3% | +7.8% |
| June 30, 2025 | +5.8% | +10.5% |
| March 31, 2025 | −0.9% | −4.6% |
| December 31, 2024 | −3.5% | +2.1% |
| September 30, 2024 | +4.6% | +5.4% |
| June 30, 2024 | −3.2% | +4.0% |
| March 31, 2024 | +9.3% | +10.0% |
| December 31, 2023 | +8.0% | +11.2% |
| September 30, 2023 | −2.9% | −3.6% |
| June 30, 2023 | +6.1% | +8.3% |
| March 31, 2023 | +4.1% | +7.0% |
| December 31, 2022 | +10.6% | +7.1% |
| September 30, 2022 | −12.5% | −5.3% |
| June 30, 2022 | −13.1% | −16.5% |
| March 31, 2022 | −2.4% | −4.9% |
| December 31, 2021 | +3.7% | +10.7% |
| September 30, 2021 | −3.0% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: ACR Alpine Capital Research, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1508822&type=13F-HR&dateb=&owner=include&count=40CIK 1508822
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1508822/000150882226000005/Filed July 29, 2026 · accession 0001508822-26-000005