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: 0001389933
申報總市值
US$5.2億
US$5.2億
77 檔
32.0%
Q4 2025 季度申報顯示，DAFNA Capital Management LLC 揭露的美股組合總市值為 US$5.2億，涵蓋 77 個不同之權益投資部位。
Q4 2025 的申報記錄反映 DAFNA Capital Management LLC 的板塊替換策略：機構本季推動了 28 筆增持與 39 筆減持，籌碼呈現明顯的結構重組。
檢視投資組合結構，前 5 大主力部位（包含 RVMD, XBI, STXS）占據了總市值的 32.0%，展現出該機構在 Q4 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 | RVMD | Revolution Medicines Inc | 股票-醫療保健 | 11.18% | +7.24% | -8.01% | |
| 2 | XBI | Ss Spdr S&p Biotech ETF | ETF-科技型 | 9.53% | -3.32% | -16.19% | |
| 3 | STXS | Stereotaxis Inc | 股票-其他 | 7.31% | -1.24% | — | |
| 4 | ATRC | Atricure Inc | 股票-其他 | 5.49% | -0.69% | +0.87% | |
| 5 | CYTK | Cytokinetics Inc | 股票-醫療保健 | 5.48% | -0.47% | -6.06% | |
| 6 | IDYA | Ideaya Biosciences Inc | 股票-其他 | 4.07% | -0.08% | -6.15% | |
| 7 | AXGN | Axogen Inc | 股票-其他 | 3.63% | -0.04% | -35.76% | |
| 8 | XENE | Xenon Pharmaceuticals Inc | 股票-其他 | 3.00% | -0.43% | — | |
| 9 | IBB | Ishares Biotechnology ETF | ETF-科技型 | 2.67% | -0.85% | -33.57% | |
| 10 | BHVN | Biohaven Ltd. | 股票-其他 | 2.51% | -1.24% | +306.08% | |
| 11 | RCUS | Arcus Biosciences Inc | 股票-其他 | 2.39% | +0.42% | -31.28% | |
| 12 | NBIX | Neurocrine Biosciences Inc | 股票-醫療保健 | 2.33% | -0.26% | — | |
| 13 | DAWNGBX | Day One Biopharmaceuticals I | 股票-其他 | 2.16% | -4.77% | EXIT | |
| 14 | TNDM | Tandem Diabetes Care Inc | 股票-其他 | 1.81% | -0.53% | — | |
| 15 | ASND | Ascendis Pharma A/S | 股票-其他 | 1.40% | -1.21% | EXIT | |
| 16 | DXCM | Dexcom Inc | 股票-醫療保健 | 1.36% | -0.12% | +34.67% | |
| 17 | SNDX | Syndax Pharmaceuticals Inc | 股票-其他 | 1.36% | +0.24% | -44.51% | |
| 18 | 4XC1 | Kalvista Pharmaceuticals Inc | 股票-其他 | 1.34% | -1.22% | EXIT | |
| 19 | CMPS | Compass Pathways PLC | 股票-其他 | 1.30% | +2.39% | — | |
| 20 | INGN | Inogen Inc | 股票-其他 | 1.29% | -0.15% | +36.56% | |
| 21 | ASND 2.25 04-01-28債券 | Ascendis Pharma A/s | 債券 | 1.27% | -1.35% | EXIT | |
| 22 | DNLI | Denali Therapeutics Inc | 股票-其他 | 1.22% | +2.23% | +89.02% | |
| 23 | MBX | Mbx Biosciences Inc | 股票-其他 | 1.21% | -1.07% | +94.43% | |
| 24 | BCAX | Bicara Therapeutics Inc | 股票-其他 | 1.02% | -0.30% | -17.48% | |
| 25 | LKFT | Lakefront Biotherapeutic-adr | 股票-其他 | 0.99% | -0.15% | — | |
| 26 | CATBUSD | Astria Therapeutics Inc | 股票-其他 | 0.93% | — | -4.69% | |
| 27 | EWTX | Edgewise Therapeutics Inc | 股票-其他 | 0.92% | +0.96% | -25.26% | |
| 28 | IMVT | Immunovant Inc | 股票-其他 | 0.89% | +0.25% | -21.39% | |
| 29 | PRCT | Procept Biorobotics CORP | 股票-其他 | 0.88% | -0.16% | — | |
| 30 | HELP | Cybin Inc | 股票-其他 | 0.86% | +0.11% | — | |
| 31 | ALKS | Alkermes plc | 股票-醫療保健 | 0.85% | -0.11% | -3.34% | |
| 32 | LRMR | Larimar Therapeutics Inc | 股票-其他 | 0.83% | -0.91% | -8.62% | |
| 33 | STOK | Stoke Therapeutics Inc | 股票-其他 | 0.80% | -0.15% | -35.88% | |
| 34 | LXEO | Lexeo Therapeutics Inc | 股票-其他 | 0.79% | -0.16% | -4.81% | |
| 35 | BCRX | Biocryst Pharmaceuticals Inc | 股票-其他 | 0.76% | -0.17% | +91.64% | |
| 36 | NKTR | Nektar Therapeutics | 股票-其他 | 0.74% | +1.54% | +36.37% | |
| 37 | ✓ | Proqr Therapeutics N.v. | 股票-其他 | 0.74% | -0.04% | — | |
| 38 | IPSC | Century Therapeutics Inc | 股票-其他 | 0.65% | -0.13% | +63.92% | |
| 39 | ✓ | Immatics NV | 股票-其他 | 0.64% | -0.28% | +11.12% | |
| 40 | GPCR | Structure Therapeutics Inc | 股票-其他 | 0.60% | -0.03% | -37.29% | |
| 41 | MPLT | Maplight Therapeutics Inc | 股票-其他 | 0.59% | +0.38% | — | |
| 42 | ALGN | Align Technology Inc | 股票-醫療保健 | 0.58% | -0.13% | +45.45% | |
| 43 | KURA | Kura Oncology Inc | 股票-其他 | 0.57% | -0.19% | -49.10% | |
| 44 | AQST | Aquestive Therapeutics Inc | 股票-其他 | 0.56% | +0.16% | -26.66% | |
| 45 | RAPP | Rapport Therapeutics Inc | 股票-其他 | 0.53% | +0.07% | — | |
| 46 | PROF | Profound Medical CORP | 股票-其他 | 0.52% | -0.06% | — | |
| 47 | SPRY | Ars Pharmaceuticals Inc | 股票-其他 | 0.51% | — | +35.28% | |
| 48 | ✓ | Mediwound LTD | 股票-其他 | 0.49% | -0.09% | — | |
| 49 | VKTX | Viking Therapeutics Inc | 股票-醫療保健 | 0.49% | — | -7.75% | |
| 50 | PODD | Insulet CORP | 股票-醫療保健 | 0.45% | +1.28% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | RVMD | Revolution Medicines Inc | +3.6% | -8.01% | 減碼 |
| 2 | BHVN | Biohaven Ltd. | +1.6% | +306.08% | 加碼 |
| 3 | MBX | Mbx Biosciences Inc | +0.8% | +94.43% | 加碼 |
| 4 | TNDM | Tandem Diabetes Care Inc | +0.7% | — | 不變 |
| 5 | DNLI | Denali Therapeutics Inc | +0.6% | +89.02% | 加碼 |
| 6 | IDYA | Ideaya Biosciences Inc | +0.4% | -6.15% | 減碼 |
| 7 | IPSC | Century Therapeutics Inc | +0.4% | +63.92% | 加碼 |
| 8 | DAWNGBX | Day One Biopharmaceuticals I | +0.4% | — | 不變 |
| 9 | AXGN | Axogen Inc | +0.4% | -35.76% | 減碼 |
| 10 | CATBUSD | Astria Therapeutics Inc | +0.4% | -4.69% | 減碼 |
| 11 | BCRX | Biocryst Pharmaceuticals Inc | +0.4% | +91.64% | 加碼 |
| 12 | ATRC | Atricure Inc | +0.3% | +0.87% | 加碼 |
| 13 | RCUS | Arcus Biosciences Inc | +0.3% | -31.28% | 減碼 |
| 14 | DXCM | Dexcom Inc | +0.3% | +34.67% | 加碼 |
| 15 | CLDX | Celldex Therapeutics Inc | +0.3% | +179.46% | 加碼 |
| 16 | ALGN | Align Technology Inc | +0.2% | +45.45% | 加碼 |
| 17 | LXEO | Lexeo Therapeutics Inc | +0.2% | -4.81% | 減碼 |
| 18 | GPCR | Structure Therapeutics Inc | +0.2% | -37.29% | 減碼 |
| 19 | SPRY | Ars Pharmaceuticals Inc | +0.2% | +35.28% | 加碼 |
| 20 | CMPS | Compass Pathways PLC | +0.2% | — | 不變 |
| 21 | ✓ | Immatics NV | +0.2% | +11.12% | 加碼 |
| 22 | XENE | Xenon Pharmaceuticals Inc | +0.1% | — | 不變 |
| 23 | IMVT | Immunovant Inc | +0.1% | -21.39% | 減碼 |
| 24 | CYTK | Cytokinetics Inc | +0.1% | -6.06% | 減碼 |
| 25 | 4XC1 | Kalvista Pharmaceuticals Inc | +0.1% | -15.60% | 減碼 |
| 26 | INGN | Inogen Inc | +0.1% | +36.56% | 加碼 |
| 27 | VKTX | Viking Therapeutics Inc | +0.1% | -7.75% | 減碼 |
| 28 | EWTX | Edgewise Therapeutics Inc | +0.1% | -25.26% | 減碼 |
| 29 | ✓ | Polypid LTD | 0% | — | 不變 |
| 30 | ERAS | Erasca Inc | 0% | -27.30% | 減碼 |
| 31 | ALLO | Allogene Therapeutics Inc | 0% | — | 不變 |
| 32 | LRMR | Larimar Therapeutics Inc | 0% | -8.62% | 減碼 |
| 33 | FHTX | Foghorn Therapeutics Inc | 0% | — | 不變 |
| 34 | AUTL | Autolus Therapeutics PLC | 0% | — | 不變 |
| 35 | NGNE | Neurogene Inc | — | -7.90% | 減碼 |
| 36 | ✓ | Compugen LTD | — | — | 不變 |
| 37 | BCYC | Bicycle Therapeutics Plc-adr | 0% | — | 不變 |
| 38 | ✓ | Mediwound LTD | 0% | — | 不變 |
| 39 | RAPP | Rapport Therapeutics Inc | 0% | — | 不變 |
| 40 | BNTX | Biontech Se-adr | 0% | — | 不變 |
| 41 | NKTR | Nektar Therapeutics | 0% | +36.37% | 加碼 |
| 42 | ORIC | Oric Pharmaceuticals Inc | 0% | +34.75% | 加碼 |
| 43 | ✓ | Adc Therapeutics SA | -0.1% | -36.86% | 減碼 |
| 44 | PODD | Insulet CORP | -0.1% | — | 不變 |
| 45 | ASND 2.25 04-01-28債券 | Ascendis Pharma A/s | -0.1% | — | 不變 |
| 46 | ✓ | Proqr Therapeutics N.v. | -0.1% | — | 不變 |
| 47 | OBIO | Orchestra Biomed Holdings In | -0.1% | -65.12% | 減碼 |
| 48 | LKFT | Lakefront Biotherapeutic-adr | -0.1% | — | 不變 |
| 49 | NBIX | Neurocrine Biosciences Inc | -0.1% | — | 不變 |
| 50 | TELA | Tela Bio Inc | -0.1% | — | 不變 |
根據 SEC 官方 Form 13F 申報備案，DAFNA Capital Management LLC 在 Q4 2025 季度的美股持倉總市值約為 US$5.2億，共申報了 77 個公開持股部位。
在 Q4 2025 季度，DAFNA Capital Management LLC 按市值排列的前三大核心持股分別為：RVMD (11.2%)、XBI (9.5%)、STXS (7.3%)。其中最大持股部位 RVMD 佔據整體投資組合約 11.2% 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
PRCT
市值: US$377.5萬
本季最大獲利了結 / 清倉標的
MERUS N V
前期市值: US$2075.5萬
在 Q4 2025 季度中，DAFNA Capital Management LLC 共進行了 67 項持倉異動，包含新建倉 12 個部位、加碼 16 個部位、減碼 29 個部位以及清倉 10 個部位。 其中最大新建倉標的為 PRCT。 本季清倉部位包含 MERUS N V。
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。