Abstract: Configuration of alliance portfolio diversity is an important strategy decision during the allocation of alliance portfolio. In this paper, we combine organization, technology and geography dimensions to depict alliance portfolio diversity. Based on configuration perspective, we use fsQCA (fuzzy-set qualitative comparative analysis) to analyze and investigate the influence of different patterns formed by organization/technology/country diversity to the innovation catch-up performance for latecomers. We find two paths leading to high innovation catch-up performance, which is technology focused and organization dispersive, organization and country dispersive. Accordingly, latecomer firms can choose from three configurations to gain high performance. Thus, this study offers implications for latecomers how to allocate alliance portfolio diversity.