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: 0001738654
申报总市值
US$16.4亿
US$16.4亿
43 檔
27.1%
在 Q4 2025 的 13F 官方备案中，Opti Capital Management, LP 管理的美股投资组合规模来到 US$16.4亿，整体持股档数为 43 档。
Opti Capital Management, LP 在 Q4 2025 进行了结构性的板块轮动与仓位换股。在开立 14 个全新仓位及加仓 9 档持股的同时，亦同步清仓 15 档并减仓 5 档标的。
在资产配置集中度方面，Opti Capital Management, LP 的前 5 大核心持股（包含 XYZ 0.25 11-01-27, FSLY 7.75 06-01-28, LYV 3.125 01-15-29 等）合计占整体申报市值的 27.1%，反映机构在主要关键仓位上的权重分布。
| # | 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 | XYZ 0.25 11-01-27债券 | Block Inc | 债券 | 9.28% | -4.47% | — | |
| 2 | FSLY 7.75 06-01-28债券 | Fastly Inc | 债券 | 7.30% | — | — | |
| 3 | LYV 3.125 01-15-29债券 | Live Nation Entertainmen | 债券 | 6.30% | -0.07% | -18.47% | |
| 4 | TDOC 1.25 06-01-27债券 | Teladoc Health Inc | 债券 | 4.86% | -0.48% | — | |
| 5 | SNAP 0.125 03-01-28债券 | Snap Inc | 债券 | 4.62% | -0.68% | +25.25% | |
| 6 | BSY 0.375 07-01-27债券 | Bentley Systems | 债券 | 4.40% | -0.78% | +43.82% | |
| 7 | ENPH 0 03-01-26债券 | Enphase Energy Inc | 债券 | 3.97% | — | — | |
| 8 | DXCM 0.375 05-15-28债券 | Dexcom Inc | 债券 | 3.90% | -0.65% | — | |
| 9 | TMDX 1.5 06-01-28债券 | Transmedics Group Inc | 债券 | 3.83% | -2.27% | +16.67% | |
| 10 | RPD 0.25 03-15-27债券 | Rapid7 Inc | 债券 | 3.35% | +1.03% | -4.93% | |
| 11 | MARA 0 06-01-31债券 | Mara Holdings Inc | 债券 | 3.14% | — | — | |
| 12 | BL 1 06-01-29债券 | Blackline Inc | 债券 | 2.70% | -1.03% | — | |
| 13 | WK 1.25 08-15-28债券 | Workiva Inc | 债券 | 2.46% | -0.17% | +10.49% | |
| 14 | DKNG 0 03-15-28债券 | Draftkings Holdings Inc | 债券 | 2.32% | -0.68% | +59.77% | |
| 15 | BABA 0.5 06-01-31债券 | Alibaba Group Holding | 债券 | 2.27% | +2.16% | NEW | |
| 16 | BMRN 1.25 05-15-27债券 | Biomarin Pharmaceutical | 债券 | 2.25% | -0.28% | — | |
| 17 | TRIP 0.25 04-01-26债券 | Tripadvisor Inc | 债券 | 2.16% | — | — | |
| 18 | CFLT 0 01-15-27债券 | Confluent Inc | 债券 | 2.13% | — | — | |
| 19 | ETSY 0.125 09-01-27债券 | Etsy Inc | 债券 | 2.03% | -0.46% | — | |
| 20 | BILL 0 04-01-30债券 | Bill Holdings Inc | 债券 | 2.02% | -0.48% | — | |
| 21 | FIVN 1 03-15-29债券 | Five9 Inc | 债券 | 1.97% | -2.22% | +241.10% | |
| 22 | VRNS 1 09-15-29债券 | Varonis System Inc | 债券 | 1.95% | -0.95% | — | |
| 23 | PAR 1.5 10-15-27债券 | Par Technology CORP | 债券 | 1.75% | — | -23.44% | |
| 24 | MCHP 0.75 06-01-30债券 | Microchip Technology Inc | 债券 | 1.73% | -1.02% | EXIT | |
| 25 | AEIS 2.5 09-15-28债券 | Advanced Energy Ind | 债券 | 1.72% | — | — | |
| 26 | BAND 0.5 04-01-28债券 | Bandwidth Inc | 债券 | 1.57% | -0.52% | EXIT | |
| 27 | DAY 0.25 03-15-26债券 | Dayforce Inc | 债券 | 1.56% | — | — | |
| 28 | MTN 0 01-01-26债券 | Vail Resorts Inc | 债券 | 1.49% | — | — | |
| 29 | NVST 1.75 08-15-28债券 | Envista Holdings CORP | 债券 | 1.48% | — | — | |
| 30 | CNMD 2.25 06-15-27债券 | Conmed CORP | 债券 | 1.40% | -2.05% | EXIT | |
| 31 | WKC 3.25 07-01-28债券 | World Kinect Group | 债券 | 1.29% | -0.27% | — | |
| 32 | PRGS 1 04-15-26债券 | Progress Software CORP | 债券 | 1.26% | -1.50% | EXIT | |
| 33 | ALRM 0 01-15-26债券 | Alarm.com Hldgs Inc | 债券 | 1.24% | — | — | |
| 34 | BOX 1.5 09-15-29债券 | Box Inc | 债券 | 0.89% | -0.33% | +25.00% | |
| 35 | LCII 1.125 05-15-26债券 | Lci Industries | 债券 | 0.66% | -0.36% | EXIT | |
| 36 | FSLY 0 03-15-26债券 | Fastly Inc | 债券 | 0.54% | — | -83.76% | |
| 37 | SHAK 0 03-01-28债券 | Shake Shack Inc | 债券 | 0.48% | -0.30% | — | |
| 38 | SNAP 0 05-01-27债券 | Snap Inc | 债券 | 0.38% | -0.06% | — | |
| 39 | NTNX 0.5 12-15-29债券 | Nutanix Inc | 债券 | 0.35% | +0.60% | NEW | |
| 40 | ENOV 3.875 10-15-28债券 | Enovis CORP | 债券 | 0.32% | — | — | |
| 41 | ETSY 0.25 06-15-28债券 | Etsy Inc | 债券 | 0.31% | -2.11% | — | |
| 42 | SEALTD 0.25 09-15-26债券 | Sea LTD | 债券 | 0.18% | -0.03% | -95.94% | |
| 43 | RGEN 1 12-15-28债券 | Repligen CORP | 债券 | 0.17% | -0.46% | EXIT |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | BSY 0.375 07-01-27债券 | Bentley Systems | +1.8% | +43.82% | 加仓 |
| 2 | SNAP 0.125 03-01-28债券 | Snap Inc | +1.5% | +25.25% | 加仓 |
| 3 | FIVN 1 03-15-29债券 | Five9 Inc | +1.5% | +241.10% | 加仓 |
| 4 | XYZ 0.25 11-01-27债券 | Block Inc | +1.4% | — | 不变 |
| 5 | MCHP 0.75 06-01-30债券 | Microchip Technology Inc | +1.3% | +248.09% | 加仓 |
| 6 | TMDX 1.5 06-01-28债券 | Transmedics Group Inc | +1.2% | +16.67% | 加仓 |
| 7 | DKNG 0 03-15-28债券 | Draftkings Holdings Inc | +1.1% | +59.77% | 加仓 |
| 8 | TDOC 1.25 06-01-27债券 | Teladoc Health Inc | +0.8% | — | 不变 |
| 9 | ENPH 0 03-01-26债券 | Enphase Energy Inc | +0.6% | — | 不变 |
| 10 | WK 1.25 08-15-28债券 | Workiva Inc | +0.6% | +10.49% | 加仓 |
| 11 | BAND 0.5 04-01-28债券 | Bandwidth Inc | +0.5% | +22.50% | 加仓 |
| 12 | RPD 0.25 03-15-27债券 | Rapid7 Inc | +0.4% | -4.93% | 减仓 |
| 13 | BMRN 1.25 05-15-27债券 | Biomarin Pharmaceutical | +0.3% | — | 不变 |
| 14 | TRIP 0.25 04-01-26债券 | Tripadvisor Inc | +0.3% | — | 不变 |
| 15 | ETSY 0.125 09-01-27债券 | Etsy Inc | +0.3% | — | 不变 |
| 16 | BOX 1.5 09-15-29债券 | Box Inc | +0.3% | +25.00% | 加仓 |
| 17 | NVST 1.75 08-15-28债券 | Envista Holdings CORP | +0.2% | — | 不变 |
| 18 | DAY 0.25 03-15-26债券 | Dayforce Inc | +0.2% | — | 不变 |
| 19 | MTN 0 01-01-26债券 | Vail Resorts Inc | +0.2% | — | 不变 |
| 20 | CNMD 2.25 06-15-27债券 | Conmed CORP | +0.2% | — | 不变 |
| 21 | ALRM 0 01-15-26债券 | Alarm.com Hldgs Inc | +0.2% | — | 不变 |
| 22 | PRGS 1 04-15-26债券 | Progress Software CORP | +0.2% | — | 不变 |
| 23 | LCII 1.125 05-15-26债券 | Lci Industries | +0.1% | — | 不变 |
| 24 | SNAP 0 05-01-27债券 | Snap Inc | +0.1% | — | 不变 |
| 25 | ETSY 0.25 06-15-28债券 | Etsy Inc | 0% | — | 不变 |
| 26 | PAR 1.5 10-15-27债券 | Par Technology CORP | -0.2% | -23.44% | 减仓 |
| 27 | LYV 3.125 01-15-29债券 | Live Nation Entertainmen | -1.1% | -18.47% | 减仓 |
| 28 | FSLY 0 03-15-26债券 | Fastly Inc | -2.3% | -83.76% | 减仓 |
| 29 | SEALTD 0.25 09-15-26债券 | Sea LTD | -3.5% | -95.94% | 减仓 |
| 30 | STX 3.5 06-01-28债券 | Seagate Hdd Cayman | — | EXIT | 清仓 |
| 31 | IDCC 3.5 06-01-27债券 | Interdigital Inc | — | EXIT | 清仓 |
| 32 | FSLY 7.75 06-01-28债券 | Fastly Inc | — | NEW | 新建仓 |
| 33 | HALO 0.25 03-01-27债券 | Halozyme Therapeutics In | — | EXIT | 清仓 |
| 34 | NVCR 0 11-01-25债券 | Novocure LTD | — | EXIT | 清仓 |
| 35 | DXCM 0.375 05-15-28债券 | Dexcom Inc | — | NEW | 新建仓 |
| 36 | MARA 0 06-01-31债券 | Mara Holdings Inc | — | NEW | 新建仓 |
| 37 | BL 1 06-01-29债券 | Blackline Inc | — | NEW | 新建仓 |
| 38 | WDC 3 11-15-28债券 | Western Digital CORP | — | EXIT | 清仓 |
| 39 | EXAS 0.375 03-15-27债券 | Exact Sciences CORP | — | EXIT | 清仓 |
| 40 | ITRI 1.375 07-15-30债券 | Itron Inc | — | EXIT | 清仓 |
| 41 | BABA 0.5 06-01-31债券 | Alibaba Group Holding | — | NEW | 新建仓 |
| 42 | CFLT 0 01-15-27债券 | Confluent Inc | — | NEW | 新建仓 |
| 43 | ASND 2.25 04-01-28债券 | Ascendis Pharma A/s | — | EXIT | 清仓 |
| 44 | BILL 0 04-01-30债券 | Bill Holdings Inc | — | NEW | 新建仓 |
| 45 | VRNS 1 09-15-29债券 | Varonis System Inc | — | NEW | 新建仓 |
| 46 | GH 0 11-15-27债券 | Guardant Health Inc | — | EXIT | 清仓 |
| 47 | AEIS 2.5 09-15-28债券 | Advanced Energy Ind | — | NEW | 新建仓 |
| 48 | FVRR 0 11-01-25债券 | Fiverr International LTD | — | EXIT | 清仓 |
| 49 | UPWK 0.25 08-15-26债券 | Upwork Inc | — | EXIT | 清仓 |
| 50 | WKC 3.25 07-01-28债券 | World Kinect Group | — | NEW | 新建仓 |
根据 SEC 官方 Form 13F 申报备案，Opti Capital Management, LP 在 Q4 2025 季度的美股持仓总市值约为 US$16.4亿，共申报了 43 个公开持股仓位。
在 Q4 2025 季度，Opti Capital Management, LP 按市值排列的前三大核心持股分别为：XYZ 0.25 11-01-27 (9.3%)、FSLY 7.75 06-01-28 (7.3%)、LYV 3.125 01-15-29 (6.3%)。其中最大持股仓位 XYZ 0.25 11-01-27 占据整体投资组合约 9.3% 的权重。
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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
FSLY 7.75 06-01-28
市值: US$1.0亿
本季最大获利了结 / 清仓标的
STX 3.5 06-01-28
前期市值: US$1.3亿
在 Q4 2025 季度中，Opti Capital Management, LP 共进行了 43 项持仓异动，包含新建仓 14 个仓位、加仓 9 个仓位、减仓 5 个仓位以及清仓 15 个仓位。 其中最大新建仓标的为 FSLY 7.75 06-01-28。 本季清仓仓位包含 STX 3.5 06-01-28。
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。