13F 申报指南13F 概念全攻略
什么是 SEC Form 13F 申报？美股机构大户持股全攻略
完整解读 Form 13F 申报规范、1 亿美元门槛与 45 天延迟申报机制，学会如何追踪顶级对冲基金与机构法人持仓动向。
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CIK: 0001315421
申报总市值
US$55.0亿
US$55.0亿
1174 檔
21.7%
截至 Q4 2025 季度末，Graham Capital Management, L.P. 的美股持仓估值约为 US$55.0亿，全数申报仓位共有 1174 档。
Graham Capital Management, L.P. 在 Q4 2025 进行了结构性的板块轮动与仓位换股。在开立 60 个全新仓位及加仓 48 档持股的同时，亦同步清仓 45 档并减仓 43 档标的。
在资产配置集中度方面，Graham Capital Management, L.P. 的前 5 大核心持股（包含 MSTR, IBIT, APLD 2.75 06-01-30 等）合计占整体申报市值的 21.7%，反映机构在主要关键仓位上的权重分布。
仅显示前 200 大持股（共 1174 只）
| # | 代码 | 标的名称 | 资产子类别 | 占比 | 占比变动 | 持仓量变化 | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSTR | Strategy Inc | 股票-科技 | 15.13% | -0.04% | EXIT | |
| 2 | IBIT | Ishares Bitcoin Trust ETF | ETF-加密货币 | 4.41% | -1.81% | -20.91% | |
| 3 | APLD 2.75 06-01-30债券 | Applied Digital CORP | 债券 | 4.11% | -0.56% | — | |
| 4 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 2.79% | +1.81% | -8.74% | |
| 5 | FBTC | Fidelity Wise Origin Bitcoin | ETF-加密货币 | 2.13% | -0.34% | — | |
| 6 | RUN 4 03-01-30债券 | Sunrun Inc | 债券 | 1.79% | -0.37% | +12.50% | |
| 7 | PCT 7.25 08-15-30债券 | Purecycle Technologies | 债券 | 1.65% | -1.44% | EXIT | |
| 8 | RIVN 3.625 10-15-30债券 | Rivian Auto Inc | 债券 | 1.61% | -0.22% | — | |
| 9 | GPRE 5.25 11-01-30 UNRS债券 | Green Plains Inc | 债券 | 1.47% | -0.56% | — | |
| 10 | TLRY 5.2 06-15-27债券 | Tilray Brands Inc | 债券 | 1.46% | -0.58% | +1.71% | |
| 11 | REAL 4 02-15-31债券 | THE Realreal Inc | 债券 | 1.44% | -0.14% | +76.39% | |
| 12 | GRPN 4.875 06-30-30 UNRS债券 | Groupon Inc | 债券 | 1.39% | +0.03% | +55.56% | |
| 13 | AMZN | Amazon.com Inc | 股票-周期性消费 | 1.36% | -0.73% | +32.23% | |
| 14 | CLMT | Calumet Inc | 股票-其他 | 1.24% | -0.37% | — | |
| 15 | EOSE | Eos Energy Enterprises Inc | 股票-其他 | 1.22% | +0.06% | -42.58% | |
| 16 | META | Meta Platforms Inc-class A | 股票-通信服务 | 1.19% | -0.12% | +89.74% | |
| 17 | KWEB | Kranesh Csi China Internet | ETF-新兴市场 | 1.16% | -0.11% | +749.67% | |
| 18 | EWC | Ishares Msci Canada ETF | ETF-其他 | 1.04% | — | +525.46% | |
| 19 | TLT | Ishares 20+ Year Treasury Bd | ETF-政府公债 | 1.02% | -0.21% | +253.62% | |
| 20 | BBIO 2.5 03-15-27债券 | Bridgebio Pharma Inc | 债券 | 1.00% | -0.25% | -13.60% | |
| 21 | NVDA | Nvidia CORP | 股票-科技 | 0.99% | +0.26% | +134.38% | |
| 22 | METC 0 11-01-31债券 | Ramaco Resources Inc | 债券 | 0.96% | -0.28% | — | |
| 23 | NFLX | Netflix Inc | 股票-通信服务 | 0.88% | -0.80% | +9342.07% | |
| 24 | CLSK 0 06-15-30债券 | Cleanspark Inc | 债券 | 0.86% | +0.01% | — | |
| 25 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投资级债 | 0.83% | -4.41% | -28.28% | |
| 26 | GME | Gamestop Corp-class A | 股票-周期性消费 | 0.82% | -0.25% | +1.18% | |
| 27 | CIFR | Cipher Digital Inc | 股票-科技 | 0.80% | -0.01% | — | |
| 28 | BITO | Proshares Bitcoin Etf-usd | ETF-加密货币 | 0.73% | — | — | |
| 29 | UPS | United Parcel Service-cl B | 股票-工业 | 0.72% | -0.32% | EXIT | |
| 30 | MARA 0 03-01-30债券 | Mara Holdings Inc | 债券 | 0.68% | +0.48% | — | |
| 31 | C | Citigroup Inc | 股票-金融 | 0.67% | -0.20% | +115.83% | |
| 32 | MU | Micron Technology Inc | 股票-科技 | 0.66% | — | +15.29% | |
| 33 | ✓ | Applied Optoele | 股票-其他 | 0.63% | -0.35% | EXIT | |
| 34 | BA | Boeing Co/the | 股票-工业 | 0.61% | -0.17% | +52.10% | |
| 35 | FSLR | First Solar Inc | 股票-科技 | 0.61% | -0.04% | +63.46% | |
| 36 | GOOG | Alphabet Inc-cl C | 股票-通信服务 | 0.61% | -0.06% | +58.82% | |
| 37 | PCT | Purecycle Technologies Inc | 股票-其他 | 0.54% | -0.32% | +3.79% | |
| 38 | CRM | Salesforce Inc | 股票-科技 | 0.53% | -0.96% | +241.40% | |
| 39 | CME | Cme Group Inc | 股票-金融 | 0.52% | -0.22% | +4.35% | |
| 40 | MCD | Mcdonald's CORP | 股票-周期性消费 | 0.50% | — | +249.43% | |
| 41 | BXMT 5.5 03-15-27债券 | Blackstone Mortgage Tr | 债券 | 0.49% | -0.06% | — | |
| 42 | SEI 0.25 10-01-31债券 | Solaris Energy Infrastru | 债券 | 0.47% | -0.40% | EXIT | |
| 43 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股与成长 | 0.46% | +0.88% | -87.02% | |
| 44 | NVAX | Novavax Inc | 股票-医疗保健 | 0.41% | -0.05% | +0.57% | |
| 45 | BE 3 06-01-28债券 | Bloom Energy CORP | 债券 | 0.40% | — | -99.46% | |
| 46 | OPEN | Opendoor Technologies Inc | 股票-房地产 | 0.39% | -0.10% | +14.83% | |
| 47 | XLU | St Sr Utl Sl Se Spdr Etf-usd | ETF-其他 | 0.39% | +0.02% | -42.77% | |
| 48 | EMBJ | Embraer Sa-spon Adr | 股票-工业 | 0.38% | +0.01% | +27.57% | |
| 49 | OIH | Vaneck Oil Services ETF | ETF-其他 | 0.33% | — | — | |
| 50 | INTC | Intel CORP | 股票-科技 | 0.32% | -0.09% | — |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | KWEB | Kranesh Csi China Internet | +1.1% | +749.67% | 加仓 |
| 2 | REAL 4 02-15-31债券 | THE Realreal Inc | +1% | +76.39% | 加仓 |
| 3 | EWC | Ishares Msci Canada ETF | +0.9% | +525.46% | 加仓 |
| 4 | TLT | Ishares 20+ Year Treasury Bd | +0.8% | +253.62% | 加仓 |
| 5 | QQQ | Invesco Qqq Trust Series 1 | +0.8% | -8.74% | 减仓 |
| 6 | NFLX | Netflix Inc | +0.8% | +9342.07% | 加仓 |
| 7 | RUN 4 03-01-30债券 | Sunrun Inc | +0.8% | +12.50% | 加仓 |
| 8 | GRPN 4.875 06-30-30 UNRS债券 | Groupon Inc | +0.8% | +55.56% | 加仓 |
| 9 | RIVN 3.625 10-15-30债券 | Rivian Auto Inc | +0.7% | — | 不变 |
| 10 | META | Meta Platforms Inc-class A | +0.7% | +89.74% | 加仓 |
| 11 | NVDA | Nvidia CORP | +0.7% | +134.38% | 加仓 |
| 12 | AMZN | Amazon.com Inc | +0.7% | +32.23% | 加仓 |
| 13 | UPS | United Parcel Service-cl B | +0.7% | +1271.31% | 加仓 |
| 14 | ✓ | Applied Optoele | +0.6% | +361.80% | 加仓 |
| 15 | C | Citigroup Inc | +0.5% | +115.83% | 加仓 |
| 16 | CLMT | Calumet Inc | +0.5% | — | 不变 |
| 17 | PCT 7.25 08-15-30债券 | Purecycle Technologies | +0.5% | +8.95% | 加仓 |
| 18 | CRM | Salesforce Inc | +0.4% | +241.40% | 加仓 |
| 19 | MU | Micron Technology Inc | +0.4% | +15.29% | 加仓 |
| 20 | BBIO 2.5 03-15-27债券 | Bridgebio Pharma Inc | +0.4% | -13.60% | 减仓 |
| 21 | MCD | Mcdonald's CORP | +0.4% | +249.43% | 加仓 |
| 22 | GOOG | Alphabet Inc-cl C | +0.4% | +58.82% | 加仓 |
| 23 | FSLR | First Solar Inc | +0.4% | +63.46% | 加仓 |
| 24 | TLRY 5.2 06-15-27债券 | Tilray Brands Inc | +0.4% | +1.71% | 加仓 |
| 25 | BA | Boeing Co/the | +0.3% | +52.10% | 加仓 |
| 26 | FBTC | Fidelity Wise Origin Bitcoin | +0.3% | — | 不变 |
| 27 | PG | Procter & Gamble Co/the | +0.3% | +726.70% | 加仓 |
| 28 | IEX | Idex CORP | +0.2% | +2499.61% | 加仓 |
| 29 | AVGO | Broadcom Inc | +0.2% | +925.01% | 加仓 |
| 30 | MSFT | Microsoft CORP | +0.2% | +144.71% | 加仓 |
| 31 | EMBJ | Embraer Sa-spon Adr | +0.2% | +27.57% | 加仓 |
| 32 | FXI | Ishares China Large-cap ETF | +0.2% | +65.67% | 加仓 |
| 33 | ADBE | Adobe Inc | +0.2% | +106.65% | 加仓 |
| 34 | CHKP | Check Point Software Technologies Ltd. | +0.2% | +373.24% | 加仓 |
| 35 | WMT | Walmart Inc | +0.2% | +327.60% | 加仓 |
| 36 | HD | Home Depot Inc | +0.2% | +67.05% | 加仓 |
| 37 | RL | Ralph Lauren CORP | +0.1% | +658.68% | 加仓 |
| 38 | CTAS | Cintas CORP | +0.1% | +490.74% | 加仓 |
| 39 | V | Visa Inc-class A Shares | +0.1% | +53.36% | 加仓 |
| 40 | CNI | Canadian Natl Railway Co | +0.1% | +1541.00% | 加仓 |
| 41 | NTRA | Natera Inc | +0.1% | +729.75% | 加仓 |
| 42 | COR | Cencora Inc | +0.1% | +95.63% | 加仓 |
| 43 | RTX | Rtx CORP | +0.1% | +348.33% | 加仓 |
| 44 | T | At&t Inc | +0.1% | +590.48% | 加仓 |
| 45 | SBUX | Starbucks CORP | +0.1% | +809.26% | 加仓 |
| 46 | GME | Gamestop Corp-class A | +0.1% | +1.18% | 加仓 |
| 47 | OPEN | Opendoor Technologies Inc | +0.1% | +14.83% | 加仓 |
| 48 | RMD | Resmed Inc | +0.1% | +179.79% | 加仓 |
| 49 | FCX | Freeport-mcmoran Inc | +0.1% | +116.56% | 加仓 |
| 50 | AMD | Advanced Micro Devices | +0.1% | +421.38% | 加仓 |
根据 SEC 官方 Form 13F 申报备案，Graham Capital Management, L.P. 在 Q4 2025 季度的美股持仓总市值约为 US$55.0亿，共申报了 1174 个公开持股仓位。
在 Q4 2025 季度，Graham Capital Management, L.P. 按市值排列的前三大核心持股分别为：MSTR (15.1%)、IBIT (4.4%)、APLD 2.75 06-01-30 (4.1%)。其中最大持股仓位 MSTR 占据整体投资组合约 15.1% 的权重。
精选 AlphaSMO 大户持股与内部人交易深度分析，提升投资决策胜率
完整解读 Form 13F 申报规范、1 亿美元门槛与 45 天延迟申报机制，学会如何追踪顶级对冲基金与机构法人持仓动向。
本季最大新建仓标的
APLD 2.75 06-01-30
市值: US$1.7亿
本季最大获利了结 / 清仓标的
IWM
前期市值: US$11.0亿
在 Q4 2025 季度中，Graham Capital Management, L.P. 共进行了 196 项持仓异动，包含新建仓 60 个仓位、加仓 48 个仓位、减仓 43 个仓位以及清仓 45 个仓位。 其中最大新建仓标的为 APLD 2.75 06-01-30。 本季清仓仓位包含 IWM。
本页面所有持股数据均直接同步自美国证券交易委员会（SEC）EDGAR 官方系统之 13F-HR / 13F-HR/A 季度申报文件。AlphaSMO 通过机器解析 CUSIP 与个股对照，提供 100% 精准对齐的历史时序数据集，并支持 Schema.org 结构化数据格式。
解析公司高管、董事与 10% 大股东之 Form 4 内部人交易申报，掌握高管自家股票买卖第一手信号。
深入剖析 5% 股权申报门槛、13D 与 13G 之差异，以及最新 SEC 申报时程规范，洞察机构法人的激进投资动向。