SEC Filing Analysis: Alpine Woods Capital Investors, LLC

Executive Summary

• Trading Significance: Medium
• Key Takeaway: Alpine Woods Capital Investors, LLC filed its quarterly Form 13F-HR, disclosing $430.16 million in managed assets across 153 positions as of September 30, 2025. The portfolio shows a heavy concentration in large-cap technology and financial sectors, with a notable hedge via QQQ put options.
• Market Impact: As a standard quarterly disclosure from a mid-sized fund, this filing is unlikely to cause significant market shifts. However, it provides valuable insight into institutional sentiment and positioning within key sectors.

Filer Information

Field	Value
Company	ALPINE WOODS CAPITAL INVESTORS, LLC
Ticker Symbol	null (Private)
CIK	0001226886
Type	Institutional Investment Manager

Portfolio Summary

Field	Value
Form Type	13F-HR
Period of Report	2025-09-30
Total Portfolio Value	$430,158,495
Total Number of Holdings	153

Portfolio Composition & Key Holdings

The portfolio is concentrated in Information Technology, Financials, and Health Care, consistent with a large-cap growth and value strategy.

Top 10 Holdings by Value

Issuer	Value (USD)	Class
Broadcom Inc	$26,685,760	Common Stock
JPMorgan Chase & Co.	$16,770,151	Common Stock
Apple Inc	$15,729,004	Common Stock
Alphabet Inc	$14,682,899	Class C Stock
Microsoft Corp	$13,710,137	Common Stock
Agnico Eagle Mines Ltd	$12,006,023	Common Stock
L3Harris Technologies Inc	$10,416,313	Common Stock
NVIDIA Corporation	$9,871,948	Common Stock
AbbVie Inc	$8,110,615	Common Stock
Bank of America Corp	$7,242,823	Common Stock

Notable Positions

• QQQ Put Options: The filing discloses two separate put option positions on the Invesco QQQ Trust (QQQ) with a notional value of approximately $296,250. While small relative to the total portfolio, this indicates a bearish hedge against a potential downturn in the Nasdaq-100 index.
• Sector Concentration: The top holdings reveal a significant bet on mega-cap technology (Broadcom, Apple, Alphabet, Microsoft, NVIDIA) and major US financial institutions (JPMorgan, Bank of America).

Investment Insights

Positive Market Indicators

• Core Large-Cap Conviction: Strong, continued investment in established market leaders suggests confidence in their long-term stability and growth.
• Diversification: With 153 holdings, the fund is well-diversified, reducing single-stock risk.

Risk Factors & Concerning Signals

• Hedging Activity: The presence of QQQ put options, though a small position, signals a degree of caution or a strategy to protect against near-term market volatility in the tech sector.
• Economic Sensitivity: Heavy exposure to financials and technology makes the portfolio sensitive to macroeconomic shifts, particularly changes in interest rates and economic growth forecasts.

Key Takeaways

1. Tech and Finance Focus: Alpine Woods maintains a strong conviction in the technology and financial sectors as primary drivers of their portfolio.
2. Strategic Hedging: The fund is not purely long; it employs options to hedge against market risks, reflecting a sophisticated risk management approach.
3. Snapshot in Time: This filing reflects positions held at the end of Q3 2025. The portfolio may have changed since the reporting date.

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IMPORTANT DISCLAIMER: This analysis is for informational purposes only and is not intended as investment advice. The information presented is based on publicly available SEC filings and should not be construed as a recommendation to buy, sell, or hold any securities. Past performance does not guarantee future results. All investments carry risk, including the potential loss of principal. Please consult with a qualified financial advisor before making any investment decisions.

Analysis generated on 2025-10-15 | Data source: SEC EDGAR