Investors

Net Asset Value (NAV)

Net Asset Value (NAV) per share (in CHF)
as at 21 September 2023	CHF 10.65
as at 14 September 2023	CHF 10.69
as at 7 September 2023	CHF 10.73

Distributions to Shareholders 2011 - 2023: Total CHF 18.62

Year	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Distribution per share	2.00	1.00	1.00	1.00	1.00	1.00	3.00	1.00	0.45	1.17	1.00	1.00	1.00	3.00
NAV	16.72	15.43	15.77	16.60	17.86	16.72	16.33	16.22	13.61	14.45	13.96	16.03	11.77	10.65
Distribution in % to NAV	11.96%	6.48%	6.34%	6.02%	5.60%	5.98%	18.37%	6.17%	3.31%	8.10%	7.16%	6.24%	8.50%	28.17%

Alpine Select N ISIN: CH0019199550

Alpine Select Monthly return table (share price)

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	YTD
2023	-1.7%	1.7%	-0.8%	0.0%	0.0%	0.0%	-0.9%	-4.6%					-6.2%
2022	0.7%	-6.5%	3.4%	0.0%	-3.1%	-3.7%	-1.5%	-0.8%	-5.5%	0.0%	0.8%	0.0%	-15.4%
2021	0.7%	2.9%	3.5%	3.4%	0.7%	-0.7%	1.4%	1.4%	2.1%	1.3%	2.6%	-0.6%	20.3%
2020	0.0%	-1.4%	-7.8%	2.3%	0.1%	1.6%	0.8%	0.8%	1.6%	0.8%	2.3%	3.0%	3.7%
2019	0.0%	0.7%	0.7%	1.4%	-1.4%	0.0%	1.2%	0.7%	0.0%	0.7%	1.4%	0.7%	6.4%
2018	1.8%	0.0%	-0.6%	0.0%	0.5%	-1.3%	0.6%	-0.7%	0.0%	-4.6%	-1.4%	-3.1%	-8.3%
2017	1.2%	2.0%	0.3%	-0.3%	2.1%	1.4%	1.7%	0.0%	1.6%	5.8%	-0.6%	0.0%	16.0%
2016	-1.8%	-1.2%	0.0%	1.8%	3.0%	0.0%	0.0%	0.9%	0.9%	0.6%	1.8%	0.6%	6.8%
2015	2.3%	1.7%	3.8%	1.0%	-0.5%	-1.6%	1.1%	-3.9%	-2.9%	0.3%	0.6%	-0.9%	0.7%
2014	4.2%	1.2%	-0.6%	-0.6%	5.2%	1.2%	-0.6%	0.3%	-1.4%	1.8%	0.6%	1.1%	12.8%
2013	1.9%	-0.3%	0.6%	0.3%	2.0%	-1.9%	1.6%	-1.0%	2.9%	5.1%	0.3%	0.0%	12.0%
2012	1.0%	2.9%	4.1%	0.6%	0.0%	0.6%	0.9%	0.3%	-0.6%	-0.6%	-1.9%	1.3%	8.8%
2011	4.2%	3.5%	-0.8%	3.6%	3.7%	-0.3%	-1.8%	-3.9%	-1.0%	0.0%	-1.9%	0.3%	5.3%
2010	-1.2%	2.8%	2.3%	1.6%	0.0%	2.9%	1.4%	1.6%	2.5%	3.8%	7.4%	3.0%	31.9%
2009	-2.8%	-0.9%	0.9%	0.9%	3.8%	1.7%	3.6%	2.5%	5.0%	0.8%	-2.3%	0.0%	13.6%
2008	-5.6%	0.0%	-2.3%	1.2%	-4.7%	0.0%	-1.2%	-1.3%	-6.3%	-15.5%	-9.6%	-2.6%	-39.5%
2007	9.0%	-2.1%	-0.5%	2.0%	0.6%	0.0%	-2.1%	-5.8%	0.0%	0.6%	0.0%	0.5%	1.7%
2006	3.7%	4.5%	3.7%	1.7%	-1.7%	1.2%	1.1%	0.0%	1.8%	5.1%	1.6%	1.7%	27.1%
2005	0.8%	0.0%	1.1%	-0.7%	1.1%	0.4%	5.2%	1.0%	3.6%	0.0%	-1.9%	-0.4%	10.4%
2004	3.6%	4.9%	6.3%	2.2%	1.4%	-0.8%	0.0%	1.5%	0.0%	0.0%	-1.1%	-0.5%	18.8%
2003	n/a	n/a	n/a	n/a	n/a	2.6%	0.8%	2.1%	1.5%	1.7%	0.5%	0.2%	9.7%

Annual report

Semi-Annual Report

Monthly Report

Latest Corporate Documents

Shareholders' Meetings

NAV AND SHARE PRICE

Alpine Select’s goal is to achieve attractive absolute returns by building a diversified portfolio investing in securities, quoted or otherwise, of Swiss and foreign corporations. Furthermore, Alpine Select takes positions in special situations (significant transactional events such as spin-offs, acquisitions, arbitrages, mergers, carve-outs and recapitalizations).

Investment Rationale

It is the intention of Alpine Select to be recognized as an efficient company. Accordingly, emphasis is on retaining a light and flexible cost structure with the Company contracting outside expertise when cost/benefit of such advice can be demonstrated

Alpine Select applies a shareholder friendly dividend policy: The Company intends to distribute a dividend to shareholders, taking the return goals and economic situations of the Company into consideration (since 2014 an annual dividend has been distributed).

It is the intention of Alpine Select to be recognized as an efficient company. Accordingly, emphasis is on retaining a light and flexible cost structure with the Company contracting outside expertise when cost/benefit of such advice can be demonstrated.

Due to its listing on the Swiss Stock Exchange, Alpine offers daily liquidity within a stable regulatory environment.

Pooling of investors’ interest through investment policy and business Credo
Access the investment capabilities of the experienced Alpine Select investment team
Members of the investment team are significantly invested in Alpine Select Ltd. and Alpine Select Alternative Fund
Cost efficient set-up: 'Performance before growth'
Stable regulatory environment, regular updates and reports

Share Buyback Program 2020 - 2023 (expired 31 May 2023)

The Ordinary Shareholders' Meeting of Alpine Select held on 20 May 2020 authorized the board of directors to repurchase up to 10% of the share capital in the period up to the ordinary shareholders' meeting in 2022 for the subsequent definitive cancellation of the shares through a capital reduction. Based on this authorization the board of directors launched the buyback program 2020 – 2022 by publishing the buyback notice on 24 June 2020 (“Buyback program 2020”). Alpine Select can acquire up to a maximum of 925,797 registered shares under the Buyback program 2020. As of 27 May 2022, Alpine Select has acquired a total of 397,202 treasury shares under the Buyback program 2020, equalling 4.29% of the share capital.

At the proposal of the board of directors, the Ordinary Shareholders’ Meeting of Alpine Select held on 18 May 2022 authorized the board of directors to extend the Buyback program 2020 until 31 May 2023. With the prolongation of the Buyback program 2020, the maximum number of shares to be repurchased remains at 925,797 treasury shares (corresponding to 10% of the share capital). During the extension of the Buyback program 2020, a further maximum number of 528,595 Alpine Select shares can be bought back. The actual number of shares bought back will be determined by Alpine Select's freely available liquidity on the one hand and by the supply on the second trading line on the other hand. The board of directors will propose to the ordinary shareholders' meeting 2023 a capital reduction by cancellation of all shares purchased within the prolonged Buyback program 2020.

Valor	55,039,512
ISIN	CH0550395120
Ticker	ALPNE

Buyback Notice

Result of the Share Buyback Program 2020 - 2023

The share buyback program approved by the ordinary shareholders’ meeting held on 20 May 2020 and extended by one year by the ordinary shareholders’ meeting on 18 May 2022 expired on 31 May 2023. During this period, Alpine Select repurchased a total of 548,070 treasury shares. At the ordinary shareholders’ meeting held on 17 May 2023, the shareholders approved the cancellation of the 548,070 treasury shares and the corresponding reduction of the share capital. The share capital now amounts to CHF 174,198.00.

Click below for an overview on the transactions made in own shares during the 2020 - 2023 share buyback program.

Alpine Select: Share buyback via second trading line

Incorporation date	18 September 1997
Listing	SIX Swiss Exchange, Swiss Standard Segment
Stock Exchange Symbol	ALPN
ISIN Cide	CH0019199550
Reuters	ALPN.S
Bloomberg	ALPN SW EQUITY
Types of shares:	Registered shares
Shares issued:	8'709'900
Nominal value	CHF 0.02
Net Asset Value	Published on the Company Website, in Finanz und Wirtschaft, Zurich (Saturday edition), on various data providers
Management fee	None
Performance fee	None
Advisory fee	TCHF 108/annually
Custodian	Bank Julius Bär & Co. AG
Distributions	Out of retained earnings