Qatar Investment Authority and Q Healthcare Report 13.25M Shares of ALHC

Rhea-AI Filing Summary

Qatar Investment Authority and its subsidiary Q Healthcare Holding LLC filed a Schedule 13G reporting ownership of 13,246,096 shares of Alignment Healthcare, Inc. common stock, representing 6.69% of the outstanding shares. The filing states each reporting person has sole voting and sole dispositive power over those shares and that the percent was calculated using 198,031,417 shares outstanding per Alignment Healthcares July 25, 2025 disclosure. The statement includes a joint filing agreement and a certification that the stake was not acquired to influence control of the issuer.

Positive

• Reported beneficial ownership of 13,246,096 shares (6.69%) which is material and transparent
• Sole voting and sole dispositive power clearly disclosed for the reported shares
• Filed as Schedule 13G with a certification indicating passive intent and regulatory compliance
• Includes a joint filing agreement demonstrating coordination in disclosure between QIA and its subsidiary

Negative

• None.

Insights

Financial Analyst

TL;DR: A sovereign investor disclosed a significant passive stake (6.69%) in ALHC with sole voting/dispositive power.

This Schedule 13G shows QIA and its subsidiary directly hold 13,246,096 shares, equal to 6.69% of Alignment Healthcare on the stated share base. The filing is presented under the passive investor regime and includes a certification that the holdings are not intended to change or influence control. For investors, a >5% disclosure by a large sovereign fund signals meaningful ownership concentration but the filing explicitly frames the position as non-control and passive.

Corporate Governance Expert

TL;DR: Reporting indicates clear sole voting/dispositive authority but disclaims intent to influence control.

The document records sole voting and dispositive power for both QIA and Q Healthcare over the same block of shares and includes a joint filing agreement. The explicit disclaimer and Schedule 13G submission suggest a passive investment posture rather than an activist or control-seeking approach. Governance implications rest on whether future filings or board engagement follow; this filing alone does not allege coordination to change control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Alignment Healthcare, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

01625V104

(CUSIP Number)

09/17/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 01625V104

1

Names of Reporting Persons

Qatar Investment Authority

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

QATAR

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,246,096.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,246,096.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,246,096.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.69 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: (1) Calculated based on 198,031,417 shares of common stock, $0.001 par value per share, outstanding as of July 25, 2025, as reported by Alignment Healthcare, Inc. in its Form 10-Q filed with the Securities and Exchange Commission on July 30, 2025.

SCHEDULE 13G

CUSIP No. 01625V104

1

Names of Reporting Persons

Q Healthcare Holding LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

QATAR

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,246,096.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,246,096.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,246,096.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.69 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Alignment Healthcare, Inc.
(b)	Address of issuer's principal executive offices: 1100 W. Town and Country Road, Suite 1600, Orange, CA 92868
Item 2.
(a)	Name of person filing: Qatar Investment Authority | Q Healthcare Holding LLC Qatar Investment Authority ("QIA") is the sole member of Q Healthcare Holding LLC ("Q Healthcare"). Q Healthcare directly holds 13,246,096 shares of common stock of the Issuer. Each of QIA and Q Healthcare may be deemed to beneficially own the shares of common stock of the Issuer beneficially owned by them directly or indirectly controlled by it, but each disclaims beneficial ownership of such securities, except to the extent of such holder's pecuniary interest therein.
(b)	Address or principal business office or, if none, residence: QIA - Ooredoo Tower (Building 14), Al Dafna Street (Street 801), Al Dafna (Zone 61), Doha, State of Qatar | Q Healthcare - Ooredoo Tower (Building 14), Al Dafna Street (Street 801), Al Dafna (Zone 61), Doha, State of Qatar
(c)	Citizenship: QIA - Qatar | Q Healthcare - Qatar
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 01625V104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Each of QIA and Q Healthcare may be deemed to beneficially own 13,246,096 shares.
(b)	Percent of class: The number of Shares that each of QIA and Q Healthcare may be deemed to beneficially own constitutes 6.69% of the Shares outstanding.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Each of QIA and Q Healthcare: 13,246,096
	(ii) Shared power to vote or to direct the vote: Each of QIA and Q Healthcare: 0
	(iii) Sole power to dispose or to direct the disposition of: Each of QIA and Q Healthcare: 13,246,096
	(iv) Shared power to dispose or to direct the disposition of: Each of QIA and Q Healthcare: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Qatar Investment Authority

Signature:	/s/ Mohammed Fahad Al Khulaifi
Name/Title:	Mohammed Fahad Al Khulaifi, Head of Compliance
Date:	09/24/2025

Q Healthcare Holding LLC

Signature:	/s/ Mohammed Fahad Al Khulaifi
Name/Title:	Mohammed Fahad Al Khulaifi, Head of Compliance
Date:	09/24/2025

Exhibit Information

Exhibit 1 Joint Filing Agreement, dated September 24, 2025

FAQ

What stake did Qatar Investment Authority report in Alignment Healthcare (ALHC)?

The filing reports beneficial ownership of 13,246,096 shares, equal to 6.69% of outstanding common stock.

Does Qatar Investment Authority claim voting or disposition control over the ALHC shares?

Yes. The filing states each reporting person has sole voting and sole dispositive power over the 13,246,096 shares.

Under which SEC form was the ownership disclosed for ALHC?

Ownership was disclosed on a Schedule 13G, which is used for passive investors.

What share count was used to calculate the 6.69% ownership percentage?

The percentage was calculated using 198,031,417 shares outstanding, as reported by the company in its July 25, 2025 disclosure.

When was the Schedule 13G for ALHC signed?

The signatures on the filing are dated September 24, 2025.