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: 0001238990
申报总市值
US$20.2亿
US$20.2亿
160 檔
11.6%
在 Q3 2025 的 13F 官方备案中，Punch & Associates Investment Management, Inc. 管理的美股投资组合规模来到 US$20.2亿，整体持股档数为 160 档。
在 Q3 2025，Punch & Associates Investment Management, Inc. 操作展现出积极扩展与加仓意向。本季共新建仓 20 个新仓位，并对 100 个既有持股进行加仓（合计增持 120 档），相较减仓与清仓仓位显著占优。
在资产配置集中度方面，Punch & Associates Investment Management, Inc. 的前 5 大核心持股（包含 SNEX, RDNT, LAUR 等）合计占整体申报市值的 11.6%，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 | SNEX | Stonex Group Inc | 股票-金融 | 4.16% | -0.32% | -2.14% | |
| 2 | RDNT | Radnet Inc | 股票-医疗保健 | 2.87% | +0.01% | -6.87% | |
| 3 | LAUR | Laureate Education Inc | 股票-其他 | 2.35% | -0.13% | -14.38% | |
| 4 | UTI | Universal Technical Institut | 股票-其他 | 2.19% | +0.08% | +14.38% | |
| 5 | ACA | Arcosa Inc | 股票-工业 | 1.98% | +0.28% | -0.06% | |
| 6 | GSL | Global Ship Lease, Inc. | 股票-其他 | 1.95% | -0.12% | -8.75% | |
| 7 | GOOGL | Alphabet Inc-cl A | 股票-通信服务 | 1.89% | +0.12% | -2.97% | |
| 8 | VTS | Vitesse Energy Inc | 股票-其他 | 1.71% | -0.16% | +17.89% | |
| 9 | SILA | Sila Realty Trust Inc | 股票-其他 | 1.65% | -1.84% | EXIT | |
| 10 | VRRM | Verra Mobility CORP | 股票-其他 | 1.62% | -0.95% | EXIT | |
| 11 | PDX | Pimco Dynamic Income Strat | 股票-其他 | 1.53% | -0.36% | -0.95% | |
| 12 | GRBK | Green Brick Partners Inc | 股票-其他 | 1.52% | +0.18% | -4.06% | |
| 13 | ATEN | A10 Networks Inc | 股票-其他 | 1.51% | +0.25% | +4.03% | |
| 14 | PARR | Par Pacific Holdings Inc | 股票-能源 | 1.46% | -0.40% | -9.88% | |
| 15 | IIIV | I3 Verticals Inc-class A | 股票-其他 | 1.46% | -0.17% | +1.41% | |
| 16 | LQDT | Liquidity Services Inc | 股票-其他 | 1.45% | +0.23% | +38.92% | |
| 17 | CVCO | Cavco Industries Inc | 股票-周期性消费 | 1.44% | +0.22% | +0.03% | |
| 18 | BXC | Bluelinx Holdings Inc | 股票-其他 | 1.36% | +0.02% | -0.77% | |
| 19 | FIBK | First Interstate Bancsys-a | 股票-其他 | 1.34% | +0.06% | +4.39% | |
| 20 | TREE | Lendingtree Inc | 股票-其他 | 1.30% | -0.01% | +0.89% | |
| 21 | LZ | Legalzoomcom Inc | 股票-其他 | 1.28% | -0.02% | +33.65% | |
| 22 | NPKI | Npk International Inc | 股票-其他 | 1.24% | -0.15% | +1.46% | |
| 23 | RPRX | Royalty Pharma plc | 股票-医疗保健 | 1.22% | — | -0.01% | |
| 24 | KKR | Kkr & Co Inc | 股票-金融 | 1.20% | -0.12% | +0.22% | |
| 25 | PSMT | Pricesmart Inc | 股票-非周期性消费 | 1.12% | +0.25% | +5.61% | |
| 26 | PLOW | Douglas Dynamics Inc | 股票-其他 | 1.11% | +0.25% | +0.36% | |
| 27 | APAM | Artisan Partners Asset Ma -a | 股票-金融 | 1.11% | -0.14% | +0.51% | |
| 28 | WTTR | Select Water Solutions Inc | 股票-其他 | 1.10% | +0.07% | +0.16% | |
| 29 | MSFT | Microsoft CORP | 股票-科技 | 1.10% | -0.12% | +0.13% | |
| 30 | SFM | Sprouts Farmers Market Inc | 股票-非周期性消费 | 1.09% | +0.06% | +0.68% | |
| 31 | MELI | Mercadolibre Inc | 股票-周期性消费 | 1.06% | -0.15% | +0.69% | |
| 32 | TDW | Tidewater Inc | 股票-能源 | 1.06% | -0.55% | +0.71% | |
| 33 | ULTA | Ulta Beauty Inc | 股票-周期性消费 | 1.04% | -0.15% | +0.19% | |
| 34 | CLMB | Climb Global Solutions Inc | 股票-其他 | 1.00% | — | — | |
| 35 | SPNT | SiriusPoint Ltd. | 股票-其他 | 0.99% | +0.02% | +27.86% | |
| 36 | ADUS | Addus Homecare CORP | 股票-其他 | 0.98% | -0.02% | +29.07% | |
| 37 | IQV | Iqvia Holdings Inc | 股票-医疗保健 | 0.96% | -0.07% | +0.29% | |
| 38 | ORCL | Oracle CORP | 股票-科技 | 0.96% | -0.08% | -27.88% | |
| 39 | HLMN | Hillman Solutions CORP | 股票-其他 | 0.93% | -0.06% | +0.05% | |
| 40 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 0.90% | -0.09% | +0.21% | |
| 41 | BLDR | Builders Firstsource Inc | 股票-工业 | 0.90% | -0.17% | -0.14% | |
| 42 | BG | Bunge Global SA | 股票-非周期性消费 | 0.89% | -0.65% | -0.46% | |
| 43 | RTO | Rentokil Initial Plc-sp Adr | 股票-其他 | 0.87% | -0.24% | -0.07% | |
| 44 | BV | Brightview Holdings Inc | 股票-其他 | 0.85% | +0.07% | +0.43% | |
| 45 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.83% | -0.03% | -23.52% | |
| 46 | MDXG | Mimedx Group Inc | 股票-其他 | 0.81% | -0.07% | +1.57% | |
| 47 | ALG | Alamo Group Inc | 股票-其他 | 0.77% | -0.06% | -4.17% | |
| 48 | DIS | Walt Disney Co/the | 股票-通信服务 | 0.76% | -0.10% | +0.29% | |
| 49 | TMO | Thermo Fisher Scientific Inc | 股票-医疗保健 | 0.76% | -0.11% | -0.04% | |
| 50 | AMP | Ameriprise Financial Inc | 股票-金融 | 0.75% | — | -1.03% |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | LQDT | Liquidity Services Inc | +0.8% | +38.92% | 加仓 |
| 2 | LZ | Legalzoomcom Inc | +0.8% | +33.65% | 加仓 |
| 3 | NPKI | Npk International Inc | +0.8% | +1.46% | 加仓 |
| 4 | IIIV | I3 Verticals Inc-class A | +0.7% | +1.41% | 加仓 |
| 5 | PARR | Par Pacific Holdings Inc | +0.7% | -9.88% | 减仓 |
| 6 | RDNT | Radnet Inc | +0.6% | -6.87% | 减仓 |
| 7 | GOOGL | Alphabet Inc-cl A | +0.5% | -2.97% | 减仓 |
| 8 | UTI | Universal Technical Institut | +0.4% | +14.38% | 加仓 |
| 9 | LAUR | Laureate Education Inc | +0.4% | -14.38% | 减仓 |
| 10 | CSV | Carriage Services Inc | +0.3% | +59.33% | 加仓 |
| 11 | ULTA | Ulta Beauty Inc | +0.3% | +0.19% | 加仓 |
| 12 | ADUS | Addus Homecare CORP | +0.3% | +29.07% | 加仓 |
| 13 | INFU | Infusystem Holdings Inc | +0.3% | -7.83% | 加仓 |
| 14 | PSMT | Pricesmart Inc | +0.3% | +5.61% | 加仓 |
| 15 | FIBK | First Interstate Bancsys-a | +0.2% | +4.39% | 加仓 |
| 16 | MSFT | Microsoft CORP | +0.2% | +0.13% | 加仓 |
| 17 | MELI | Mercadolibre Inc | +0.2% | +0.69% | 加仓 |
| 18 | PLOW | Douglas Dynamics Inc | +0.2% | +0.36% | 加仓 |
| 19 | CLFD | Clearfield Inc | +0.2% | +48.37% | 加仓 |
| 20 | SPNT | SiriusPoint Ltd. | +0.2% | +27.86% | 加仓 |
| 21 | IQV | Iqvia Holdings Inc | +0.2% | +0.29% | 加仓 |
| 22 | RFIL | Rf Industries LTD | +0.2% | -0.96% | 加仓 |
| 23 | GSL | Global Ship Lease, Inc. | +0.2% | -8.75% | 减仓 |
| 24 | ACA | Arcosa Inc | +0.2% | -0.06% | 加仓 |
| 25 | MYFW | First Western Financial Inc | +0.2% | -1.03% | 加仓 |
| 26 | ORCL | Oracle CORP | +0.1% | -27.88% | 减仓 |
| 27 | RSSS | Research Solutions Inc | +0.1% | +3.36% | 加仓 |
| 28 | TDW | Tidewater Inc | +0.1% | +0.71% | 加仓 |
| 29 | ACIC | American Coastal Insurance C | +0.1% | +21.39% | 加仓 |
| 30 | ISSC | Innovative Solutions & Supp | +0.1% | +46.05% | 加仓 |
| 31 | KEQU | Kewaunee Scientific Cp | +0.1% | +61.86% | 加仓 |
| 32 | NVEC | Nve CORP | +0.1% | +57.46% | 加仓 |
| 33 | OPXS | Optex Systems Holdings Inc | +0.1% | -3.51% | 减仓 |
| 34 | FLXS | Flexsteel Inds | +0.1% | +22.50% | 加仓 |
| 35 | BWB | Bridgewater Bancshares Inc | +0.1% | +2.35% | 加仓 |
| 36 | AGYS | Agilysys Inc | +0.1% | +0.13% | 加仓 |
| 37 | GHM | Graham CORP | +0.1% | -7.51% | 减仓 |
| 38 | VTS | Vitesse Energy Inc | +0.1% | +17.89% | 加仓 |
| 39 | BRSP | Brightspire Capital Inc | +0.1% | +13.84% | 加仓 |
| 40 | SHOO | Steven Madden LTD | +0.1% | +0.34% | 加仓 |
| 41 | RCMT | Rcm Technologies Inc | +0.1% | +28.58% | 加仓 |
| 42 | ALNT | Allient Inc | +0.1% | -12.25% | 减仓 |
| 43 | ATEN | A10 Networks Inc | +0.1% | +4.03% | 加仓 |
| 44 | RPRX | Royalty Pharma plc | +0.1% | -0.01% | 加仓 |
| 45 | CLMB | Climb Global Solutions Inc | +0.1% | — | 减仓 |
| 46 | ARHS | Arhaus Inc | +0.1% | +1.09% | 加仓 |
| 47 | LGCY | Legacy Education Inc | +0.1% | +5.44% | 加仓 |
| 48 | TAYD | Taylor Devices Inc | +0.1% | +2.65% | 加仓 |
| 49 | KKR | Kkr & Co Inc | 0% | +0.22% | 加仓 |
| 50 | DIS | Walt Disney Co/the | 0% | +0.29% | 加仓 |
根据 SEC 官方 Form 13F 申报备案，Punch & Associates Investment Management, Inc. 在 Q3 2025 季度的美股持仓总市值约为 US$20.2亿，共申报了 160 个公开持股仓位。
在 Q3 2025 季度，Punch & Associates Investment Management, Inc. 按市值排列的前三大核心持股分别为：SNEX (4.2%)、RDNT (2.9%)、LAUR (2.4%)。其中最大持股仓位 SNEX 占据整体投资组合约 4.2% 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
TREE
市值: US$2250.4万
本季最大获利了结 / 清仓标的
CSWC
前期市值: US$1532.3万
在 Q3 2025 季度中，Punch & Associates Investment Management, Inc. 共进行了 177 项持仓异动，包含新建仓 20 个仓位、加仓 100 个仓位、减仓 33 个仓位以及清仓 24 个仓位。 其中最大新建仓标的为 TREE。 本季清仓仓位包含 CSWC。
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。