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。
AlphaSMO 权威研究指南阅读专题
CIK: 0001306923
申报总市值
US$7.2亿
US$7.2亿
44 檔
35.9%
根据最新整理的 13F 季度数据集，Palo Alto Investors LP 于 Q3 2025 结束时的管理资产规模为 US$7.2亿。该机构在本季度申报了 44 档美股持仓，呈现出该时期的主要投资地图。
在 Q3 2025，Palo Alto Investors LP 展现出较为审慎的避险与获利了结姿态。本季共减仓 19 个仓位并完全清仓 8 档持股，调降曝光的仓位数量高于加仓动作。
在资产配置集中度方面，Palo Alto Investors LP 的前 5 大核心持股（包含 INSM, PTCT, ACAD 等）合计占整体申报市值的 35.9%，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 | INSM | Insmed Inc | 股票-医疗保健 | 13.11% | -4.29% | -43.15% | |
| 2 | PTCT | Ptc Therapeutics Inc | 股票-医疗保健 | 9.80% | +0.76% | +112.22% | |
| 3 | ACAD | Acadia Pharmaceuticals Inc | 股票-医疗保健 | 9.74% | +0.23% | -3.77% | |
| 4 | AM6 | Amicus Therapeutics Inc | 股票-其他 | 7.83% | -2.46% | EXIT | |
| 5 | BMRN | Biomarin Pharmaceutical Inc | 股票-医疗保健 | 7.56% | -0.52% | -10.29% | |
| 6 | BIIB | Biogen Inc | 股票-医疗保健 | 4.81% | +0.24% | -9.77% | |
| 7 | UTHR | United Therapeutics CORP | 股票-医疗保健 | 4.51% | -1.01% | -39.06% | |
| 8 | ANAB | Anaptysbio Inc | 股票-其他 | 3.82% | +0.22% | -17.14% | |
| 9 | IOVA | Iovance Biotherapeutics Inc | 股票-其他 | 3.06% | -0.37% | +122.15% | |
| 10 | NVCR | NovoCure Limited | 股票-医疗保健 | 3.00% | +0.55% | +30.52% | |
| 11 | DYN | Dyne Therapeutics Inc | 股票-其他 | 2.96% | +0.48% | +376.52% | |
| 12 | IRON | Disc Medicine Inc | 股票-其他 | 2.74% | +0.28% | +53.96% | |
| 13 | ALNY | Alnylam Pharmaceuticals Inc | 股票-医疗保健 | 2.73% | — | -57.21% | |
| 14 | GOSS | Gossamer Bio Inc | 股票-其他 | 2.66% | — | -4.79% | |
| 15 | PRTA | Prothena Corporation plc | 股票-其他 | 2.39% | -0.25% | +3.87% | |
| 16 | RARE | Ultragenyx Pharmaceutical In | 股票-其他 | 2.06% | +0.84% | +658.01% | |
| 17 | AGIO | Agios Pharmaceuticals Inc | 股票-其他 | 1.97% | -0.01% | -1.22% | |
| 18 | SNDX | Syndax Pharmaceuticals Inc | 股票-其他 | 1.86% | -0.48% | +47.38% | |
| 19 | EHTH | Ehealth Inc | 股票-其他 | 1.23% | +0.02% | -2.11% | |
| 20 | DNLI | Denali Therapeutics Inc | 股票-其他 | 1.10% | -0.69% | EXIT | |
| 21 | ALGN | Align Technology Inc | 股票-医疗保健 | 1.06% | -0.36% | +21.08% | |
| 22 | ALKS | Alkermes plc | 股票-医疗保健 | 1.02% | +0.45% | -16.78% | |
| 23 | RNAGBP | Avidity Biosciences Inc | 股票-其他 | 0.89% | — | -7.62% | |
| 24 | MIRM | Mirum Pharmaceuticals Inc | 股票-其他 | 0.88% | +1.05% | — | |
| 25 | CDNA | Caredx Inc | 股票-其他 | 0.85% | +0.68% | — | |
| 26 | TSHA | Taysha Gene Therapies Inc | 股票-其他 | 0.75% | +0.36% | — | |
| 27 | NUVB | Nuvation Bio Inc | 股票-其他 | 0.70% | -0.07% | +32.08% | |
| 28 | ACRS | Aclaris Therapeutics Inc | 股票-其他 | 0.55% | +0.25% | +12.72% | |
| 29 | CRSP | CRISPR Therapeutics AG | 股票-医疗保健 | 0.49% | +0.01% | -7.62% | |
| 30 | TVTX | Travere Therapeutics Inc | 股票-其他 | 0.49% | +0.27% | — | |
| 31 | EW | Edwards Lifesciences CORP | 股票-医疗保健 | 0.48% | +0.01% | -14.78% | |
| 32 | NBIX | Neurocrine Biosciences Inc | 股票-医疗保健 | 0.47% | +0.06% | +35.87% | |
| 33 | STOK | Stoke Therapeutics Inc | 股票-其他 | 0.46% | -0.04% | -16.24% | |
| 34 | PYXS | Pyxis Oncology Inc | 股票-其他 | 0.43% | +0.13% | — | |
| 35 | BNTX | Biontech Se-adr | 股票-其他 | 0.36% | -0.02% | -22.19% | |
| 36 | BCYC | Bicycle Therapeutics Plc-adr | 股票-其他 | 0.32% | -0.02% | -11.19% | |
| 37 | ALDX | Aldeyra Therapeutics Inc | 股票-其他 | 0.22% | +0.01% | — | |
| 38 | HUM | Humana Inc | 股票-医疗保健 | 0.19% | +0.11% | — | |
| 39 | ORKA | Oruka Therapeutics Inc | 股票-其他 | 0.15% | -0.01% | — | |
| 40 | ABEO | Abeona Therapeutics Inc | 股票-其他 | 0.11% | +0.02% | — | |
| 41 | URGN | UroGen Pharma Ltd. | 股票-其他 | 0.09% | +0.05% | — | |
| 42 | ✓ | Proqr Therapeutics N.v. | 股票-其他 | 0.07% | — | — | |
| 43 | ✓ | Akari Therapeutics PLC | 股票-其他 | 0.03% | — | — | |
| 44 | GBIOGBX | Generation Bio Co | 股票-其他 | 0.02% | — | -90.00% |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | PTCT | Ptc Therapeutics Inc | +5.9% | +112.22% | 加仓 |
| 2 | DYN | Dyne Therapeutics Inc | +2.3% | +376.52% | 加仓 |
| 3 | GOSS | Gossamer Bio Inc | +1.4% | -4.79% | 减仓 |
| 4 | ACAD | Acadia Pharmaceuticals Inc | +1.3% | -3.77% | 减仓 |
| 5 | IOVA | Iovance Biotherapeutics Inc | +1% | +122.15% | 加仓 |
| 6 | SNDX | Syndax Pharmaceuticals Inc | +0.8% | +47.38% | 加仓 |
| 7 | NUVB | Nuvation Bio Inc | +0.4% | +32.08% | 加仓 |
| 8 | AGIO | Agios Pharmaceuticals Inc | +0.4% | -1.22% | 减仓 |
| 9 | TSHA | Taysha Gene Therapies Inc | +0.4% | — | 减仓 |
| 10 | MIRM | Mirum Pharmaceuticals Inc | +0.3% | — | 不变 |
| 11 | ACRS | Aclaris Therapeutics Inc | +0.3% | +12.72% | 加仓 |
| 12 | STOK | Stoke Therapeutics Inc | +0.3% | -16.24% | 减仓 |
| 13 | PYXS | Pyxis Oncology Inc | +0.2% | — | 不变 |
| 14 | ANAB | Anaptysbio Inc | +0.2% | -17.14% | 减仓 |
| 15 | NBIX | Neurocrine Biosciences Inc | +0.2% | +35.87% | 加仓 |
| 16 | TVTX | Travere Therapeutics Inc | +0.1% | — | 不变 |
| 17 | URGN | UroGen Pharma Ltd. | 0% | — | 不变 |
| 18 | ABEO | Abeona Therapeutics Inc | 0% | — | 不变 |
| 19 | GBIOGBX | Generation Bio Co | 0% | -90.00% | 减仓 |
| 20 | ✓ | Akari Therapeutics PLC | — | — | 不变 |
| 21 | HUM | Humana Inc | 0% | — | 不变 |
| 22 | ALDX | Aldeyra Therapeutics Inc | 0% | — | 不变 |
| 23 | EW | Edwards Lifesciences CORP | -0.1% | -14.78% | 减仓 |
| 24 | BCYC | Bicycle Therapeutics Plc-adr | -0.1% | -11.19% | 减仓 |
| 25 | BNTX | Biontech Se-adr | -0.1% | -22.19% | 减仓 |
| 26 | ALGN | Align Technology Inc | -0.1% | +21.08% | 加仓 |
| 27 | ALKS | Alkermes plc | -0.4% | -16.78% | 减仓 |
| 28 | NVCR | NovoCure Limited | -0.4% | +30.52% | 加仓 |
| 29 | BIIB | Biogen Inc | -0.5% | -9.77% | 减仓 |
| 30 | EHTH | Ehealth Inc | -0.9% | -2.11% | 减仓 |
| 31 | INSM | Insmed Inc | -1.2% | -43.15% | 减仓 |
| 32 | PRTA | Prothena Corporation plc | -1.5% | +3.87% | 减仓 |
| 33 | ALNY | Alnylam Pharmaceuticals Inc | -1.6% | -57.21% | 减仓 |
| 34 | UTHR | United Therapeutics CORP | -1.7% | -39.06% | 减仓 |
| 35 | AM6 | Amicus Therapeutics Inc | -3.6% | -4.33% | 减仓 |
| 36 | BMRN | Biomarin Pharmaceutical Inc | -5.8% | -10.29% | 减仓 |
| 37 | IRON | Disc Medicine Inc | — | NEW | 新建仓 |
| 38 | SRPT | Sarepta Therapeutics Inc | — | EXIT | 清仓 |
| 39 | RARE | Ultragenyx Pharmaceutical In | — | NEW | 新建仓 |
| 40 | STAA | Staar Surgical Co | — | EXIT | 清仓 |
| 41 | DNLI | Denali Therapeutics Inc | — | NEW | 新建仓 |
| 42 | RNAGBP | Avidity Biosciences Inc | — | NEW | 新建仓 |
| 43 | CDNA | Caredx Inc | — | NEW | 新建仓 |
| 44 | ✓ | Acelyrin Inc | — | EXIT | 清仓 |
| 45 | CRSP | CRISPR Therapeutics AG | — | NEW | 新建仓 |
| 46 | ✓ | Verve Therapeutics Inc | — | EXIT | 清仓 |
| 47 | KPTIEUR | Karyopharm Therapeutics Inc | — | EXIT | 清仓 |
| 48 | ORKA | Oruka Therapeutics Inc | — | NEW | 新建仓 |
| 49 | VYNE | Vyne Therapeutics Inc | — | EXIT | 清仓 |
| 50 | ✓ | Proqr Therapeutics N.v. | — | NEW | 新建仓 |
根据 SEC 官方 Form 13F 申报备案，Palo Alto Investors LP 在 Q3 2025 季度的美股持仓总市值约为 US$7.2亿，共申报了 44 个公开持股仓位。
在 Q3 2025 季度，Palo Alto Investors LP 按市值排列的前三大核心持股分别为：INSM (13.1%)、PTCT (9.8%)、ACAD (9.7%)。其中最大持股仓位 INSM 占据整体投资组合约 13.1% 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
IRON
市值: US$1482.2万
本季最大获利了结 / 清仓标的
SRPT
前期市值: US$1341.9万
在 Q3 2025 季度中，Palo Alto Investors LP 共进行了 44 项持仓异动，包含新建仓 8 个仓位、加仓 9 个仓位、减仓 19 个仓位以及清仓 8 个仓位。 其中最大新建仓标的为 IRON。 本季清仓仓位包含 SRPT。
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。