13F 申報指南13F 觀念全攻略
什麼是 SEC Form 13F 申報？美股機構大戶持股全攻略
完整解讀 Form 13F 申報規範、1 億美元門檻與 45 天延遲申報機制，學會如何追蹤頂級對沖基金與機構法人持倉動向。
AlphaSMO 權威研究指南閱讀專題
CIK: 0001920938
申報總市值
US$27.0億
US$27.0億
55 檔
31.4%
截至 Q2 2025 季度末，Braidwell LP 的美股持倉估值約為 US$27.0億，全數申報部位共有 55 檔。
在 Q2 2025，Braidwell LP 展現出較為審慎的避險與獲利了結姿態。本季共減碼 19 個部位並完全清倉 16 檔持股，調降曝險的部位數量高於加碼動作。
檢視投資組合結構，前 5 大主力部位（包含 GH 1.25 02-15-31, CAI, NBIX）占據了總市值的 31.4%，展現出該機構在 Q2 2025 的重點資金聚焦與風險分佈特徵。
| # | 代號 | 標的名稱 | 資產子類別 | 佔比 | 佔比變動 | 持倉量變化 | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GH 1.25 02-15-31債券 | Guardant Health Inc | 債券 | 8.77% | -3.42% | EXIT | |
| 2 | CAI | Caris Life Sciences Inc | 股票-其他 | 6.69% | +0.66% | — | |
| 3 | NBIX | Neurocrine Biosciences Inc | 股票-醫療保健 | 4.99% | -0.77% | -2.64% | |
| 4 | NVCR 0 11-01-25債券 | Novocure LTD | 債券 | 4.71% | — | — | |
| 5 | XENE | Xenon Pharmaceuticals Inc | 股票-其他 | 3.86% | -0.07% | +33.03% | |
| 6 | ARGX | Argenx Se - Adr | 股票-醫療保健 | 3.67% | -1.46% | +20.92% | |
| 7 | RGEN 1 12-15-28債券 | Repligen CORP | 債券 | 3.44% | -2.68% | +3.06% | |
| 8 | KRYS | Krystal Biotech Inc | 股票-醫療保健 | 3.42% | +0.20% | +81.61% | |
| 9 | ALGN | Align Technology Inc | 股票-醫療保健 | 3.22% | — | -6.37% | |
| 10 | LEGN | Legend Biotech Corp-adr | 股票-其他 | 3.09% | — | -14.64% | |
| 11 | IRTC 1.5 09-01-29債券 | Irhythm Holdings Inc | 債券 | 3.08% | — | -18.60% | |
| 12 | NUVL | Nuvalent Inc-a | 股票-其他 | 3.07% | -2.39% | EXIT | |
| 13 | NEO 0.25 01-15-28債券 | Neogenomics Inc | 債券 | 2.98% | -2.44% | — | |
| 14 | CGON | Cg Oncology Inc | 股票-其他 | 2.92% | -2.22% | EXIT | |
| 15 | IRWD 1.5 06-15-26債券 | Ironwood Pharmaceuticals | 債券 | 2.68% | — | — | |
| 16 | EWTX | Edgewise Therapeutics Inc | 股票-其他 | 2.34% | +0.53% | +111.93% | |
| 17 | INSP | Inspire Medical Systems Inc | 股票-醫療保健 | 2.32% | -0.05% | +72.75% | |
| 18 | APGE | Apogee Therapeutics Inc | 股票-其他 | 2.20% | -1.34% | EXIT | |
| 19 | GKOS | Glaukos CORP | 股票-醫療保健 | 2.13% | +0.32% | -3.37% | |
| 20 | DHR | Danaher CORP | 股票-醫療保健 | 2.09% | +0.18% | — | |
| 21 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.88% | +0.14% | +5.87% | |
| 22 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 1.67% | -0.16% | +1.82% | |
| 23 | IRTC | Irhythm Holdings Inc | 股票-醫療保健 | 1.58% | +0.48% | -46.08% | |
| 24 | ADPT | Adaptive Biotechnologies | 股票-其他 | 1.54% | — | -19.58% | |
| 25 | GH | Guardant Health Inc | 股票-醫療保健 | 1.49% | -0.72% | -36.88% | |
| 26 | ATEC | Alphatec Holdings Inc | 股票-其他 | 1.38% | +1.30% | -14.66% | |
| 27 | SYRE | Spyre Therapeutics Inc | 股票-其他 | 1.32% | +1.32% | — | |
| 28 | VKTX | Viking Therapeutics Inc | 股票-醫療保健 | 1.30% | — | +0.11% | |
| 29 | KPTI 6 05-13-29 *債券 | Karyopharm Therapeutics | 債券 | 1.22% | — | — | |
| 30 | TMDX | Transmedics Group Inc | 股票-醫療保健 | 1.17% | +0.41% | -70.17% | |
| 31 | PEN | Penumbra Inc | 股票-醫療保健 | 1.14% | -1.15% | EXIT | |
| 32 | DYN | Dyne Therapeutics Inc | 股票-其他 | 1.07% | -0.26% | -9.61% | |
| 33 | KNSA | Kiniksa Pharmaceuticals International, plc | 股票-其他 | 1.04% | -0.01% | -43.83% | |
| 34 | HROW | Harrow Inc | 股票-其他 | 0.91% | -0.18% | EXIT | |
| 35 | KIDS | Orthopediatrics CORP | 股票-其他 | 0.81% | +0.20% | — | |
| 36 | IMCR 2.5 02-01-30債券 | Immunocore Holdings | 債券 | 0.80% | — | -48.24% | |
| 37 | MRVI | Maravai Lifesciences Hldgs-a | 股票-其他 | 0.69% | +1.04% | — | |
| 38 | APLSUSD | Apellis Pharmaceuticals Inc | 股票-其他 | 0.66% | — | -32.15% | |
| 39 | SION | Sionna Therapeutics Inc | 股票-其他 | 0.64% | — | — | |
| 40 | MDGL | Madrigal Pharmaceuticals Inc | 股票-醫療保健 | 0.63% | — | +24.83% | |
| 41 | DXCM 0.25 11-15-25債券 | Dexcom Inc | 債券 | 0.62% | — | — | |
| 42 | RGEN | Repligen CORP | 股票-醫療保健 | 0.61% | +0.70% | +77.03% | |
| 43 | ORKA | Oruka Therapeutics Inc | 股票-其他 | 0.58% | +0.98% | NEW | |
| 44 | CSTL | Castle Biosciences Inc | 股票-其他 | 0.57% | — | +125.25% | |
| 45 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.53% | — | — | |
| 46 | GMED | Globus Medical Inc - A | 股票-醫療保健 | 0.50% | — | — | |
| 47 | DAWNGBX | Day One Biopharmaceuticals I | 股票-其他 | 0.48% | — | -38.32% | |
| 48 | XNCR | Xencor Inc | 股票-其他 | 0.45% | — | — | |
| 49 | CELC | Celcuity Inc | 股票-其他 | 0.40% | -0.11% | EXIT | |
| 50 | ATEC 0.75 08-01-26債券 | Alphatec Holdings Inc | 債券 | 0.20% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CAI | Caris Life Sciences Inc | +6.7% | NEW | 新建倉 |
| 2 | KPTI 6 05-13-29 *債券 | Karyopharm Therapeutics | +1.2% | NEW | 新建倉 |
| 3 | NUVL | Nuvalent Inc-a | +1% | +39.83% | 加碼 |
| 4 | KRYS | Krystal Biotech Inc | +0.9% | +81.61% | 加碼 |
| 5 | GH 1.25 02-15-31債券 | Guardant Health Inc | +0.8% | — | 不變 |
| 6 | XENE | Xenon Pharmaceuticals Inc | +0.7% | +33.03% | 加碼 |
| 7 | SION | Sionna Therapeutics Inc | +0.6% | NEW | 新建倉 |
| 8 | INSP | Inspire Medical Systems Inc | +0.6% | +72.75% | 加碼 |
| 9 | UNH | Unitedhealth Group Inc | +0.5% | NEW | 新建倉 |
| 10 | GMED | Globus Medical Inc - A | +0.5% | NEW | 新建倉 |
| 11 | EWTX | Edgewise Therapeutics Inc | +0.4% | +111.93% | 加碼 |
| 12 | NBIX | Neurocrine Biosciences Inc | +0.4% | -2.64% | 減碼 |
| 13 | ARGX | Argenx Se - Adr | +0.3% | +20.92% | 加碼 |
| 14 | CSTL | Castle Biosciences Inc | +0.3% | +125.25% | 加碼 |
| 15 | ADPT | Adaptive Biotechnologies | +0.3% | -19.58% | 減碼 |
| 16 | ALGN | Align Technology Inc | +0.3% | -6.37% | 減碼 |
| 17 | RGEN | Repligen CORP | +0.2% | +77.03% | 加碼 |
| 18 | APGE | Apogee Therapeutics Inc | +0.2% | -4.02% | 減碼 |
| 19 | ISRG | Intuitive Surgical Inc | +0.1% | +1.82% | 加碼 |
| 20 | ✓ | Crescent Biopharma Inc. | +0.1% | NEW | 新建倉 |
| 21 | PEN | Penumbra Inc | +0.1% | +17.71% | 加碼 |
| 22 | CGON | Cg Oncology Inc | +0.1% | — | 不變 |
| 23 | CELC | Celcuity Inc | +0.1% | — | 不變 |
| 24 | VKTX | Viking Therapeutics Inc | +0.1% | +0.11% | 加碼 |
| 25 | RGEN 1 12-15-28債券 | Repligen CORP | +0.1% | +3.06% | 加碼 |
| 26 | MDGL | Madrigal Pharmaceuticals Inc | +0.1% | +24.83% | 加碼 |
| 27 | MRVI | Maravai Lifesciences Hldgs-a | 0% | — | 不變 |
| 28 | SRZN | Surrozen Inc | 0% | NEW | 新建倉 |
| 29 | HROW | Harrow Inc | 0% | -8.84% | 減碼 |
| 30 | ORKA | Oruka Therapeutics Inc | 0% | -3.03% | 減碼 |
| 31 | ATEC 0.75 08-01-26債券 | Alphatec Holdings Inc | — | — | 不變 |
| 32 | DXCM 0.25 11-15-25債券 | Dexcom Inc | 0% | — | 不變 |
| 33 | ✓ | Zura Bio LTD | 0% | — | 不變 |
| 34 | TRVI | Trevi Therapeutics Inc | 0% | EXIT | 清倉 |
| 35 | GKOS | Glaukos CORP | 0% | -3.37% | 減碼 |
| 36 | SKYE | Skye Bioscience Inc | -0.1% | EXIT | 清倉 |
| 37 | BBNX | Beta Bionics Inc | -0.1% | EXIT | 清倉 |
| 38 | IRTC 1.5 09-01-29債券 | Irhythm Holdings Inc | -0.1% | -18.60% | 減碼 |
| 39 | NVCR 0 11-01-25債券 | Novocure LTD | -0.1% | — | 不變 |
| 40 | LUNG | Pulmonx CORP | -0.1% | — | 不變 |
| 41 | NEO 0.25 01-15-28債券 | Neogenomics Inc | -0.1% | — | 不變 |
| 42 | AARD | Aardvark Therapeutics Inc | -0.1% | EXIT | 清倉 |
| 43 | ✓ | -0.1% | EXIT | 清倉 | |
| 44 | SYRE | Spyre Therapeutics Inc | -0.1% | — | 不變 |
| 45 | ATEC | Alphatec Holdings Inc | -0.1% | -14.66% | 減碼 |
| 46 | DHR | Danaher CORP | -0.1% | — | 不變 |
| 47 | KIDS | Orthopediatrics CORP | -0.2% | — | 不變 |
| 48 | ✓ | -0.2% | EXIT | 清倉 | |
| 49 | XNCR | Xencor Inc | -0.2% | — | 不變 |
| 50 | IRWD 1.5 06-15-26債券 | Ironwood Pharmaceuticals | -0.2% | — | 不變 |
根據 SEC 官方 Form 13F 申報備案，Braidwell LP 在 Q2 2025 季度的美股持倉總市值約為 US$27.0億，共申報了 55 個公開持股部位。
在 Q2 2025 季度，Braidwell LP 按市值排列的前三大核心持股分別為：GH 1.25 02-15-31 (8.8%)、CAI (6.7%)、NBIX (5.0%)。其中最大持股部位 GH 1.25 02-15-31 佔據整體投資組合約 8.8% 的權重。
精選 AlphaSMO 大戶持股與內部人交易深度分析，提升投資決策勝率
完整解讀 Form 13F 申報規範、1 億美元門檻與 45 天延遲申報機制，學會如何追蹤頂級對沖基金與機構法人持倉動向。
本季最大新建倉標的
CAI
市值: US$2.0億
本季最大獲利了結 / 清倉標的
BBIO 2.5 03-15-27
前期市值: US$7199.7萬
在 Q2 2025 季度中，Braidwell LP 共進行了 56 項持倉異動，包含新建倉 7 個部位、加碼 14 個部位、減碼 19 個部位以及清倉 16 個部位。 其中最大新建倉標的為 CAI。 本季清倉部位包含 BBIO 2.5 03-15-27。
本頁面所有持股數據均直接同步自美國證券交易委員會（SEC）EDGAR 官方系統之 13F-HR / 13F-HR/A 季度申報文件。AlphaSMO 透過機器解析 CUSIP 與個股對照，提供 100% 精準對齊的歷史時序數據集，並支援 Schema.org 結構化資料格式。
解析公司高管、董事與 10% 大股東之 Form 4 內部人交易申報，掌握高管自家股票買賣第一手訊號。
深入剖析 5% 股益申報門檻、13D 與 13G 之差異，以及最新 SEC 申報時程規範，洞察機構法人的激進投資動向。