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: 0000938206
申報總市值
US$172.6億
US$172.6億
404 檔
9.6%
Driehaus Capital Management LLC 在 Q4 2025 季度的美股部位總計估值為 US$172.6億，分散於 404 個持倉標的之中，反映其市場參與廣度與投資規模。
觀察 Q4 2025 的資金脈絡，Driehaus Capital Management LLC 在獲利結算 46 檔個股的同時，將資本重新部署至 43 檔新選標的，展現主動管理機構的輪動節奏。
在資產配置集中度方面，Driehaus Capital Management LLC 的前 5 大核心持股（包含 TSM, CRNX, PRAX 等）合計佔整體申報市值的 9.6%，反映機構在主要關鍵部位上的權重分佈。
僅顯示前 200 大持股（共 404 檔）
| # | 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 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 4.47% | -0.42% | -3.56% | |
| 2 | CRNX | Crinetics Pharmaceuticals In | 股票-其他 | 2.02% | -0.31% | -1.45% | |
| 3 | PRAX | Praxis Precision Medicines I | 股票-其他 | 1.87% | -0.39% | +86.41% | |
| 4 | GH | Guardant Health Inc | 股票-醫療保健 | 1.49% | +0.30% | -0.42% | |
| 5 | XENE | Xenon Pharmaceuticals Inc | 股票-其他 | 1.38% | -0.37% | +8.86% | |
| 6 | PL | Planet Labs Pbc | 股票-工業 | 1.14% | -0.34% | -40.78% | |
| 7 | APGE | Apogee Therapeutics Inc | 股票-其他 | 1.12% | +0.15% | +1.17% | |
| 8 | EOSE | Eos Energy Enterprises Inc | 股票-其他 | 1.11% | -0.08% | +117.35% | |
| 9 | SITM | Sitime CORP | 股票-科技 | 0.99% | +0.16% | -28.22% | |
| 10 | NTRA | Natera Inc | 股票-醫療保健 | 0.97% | +0.18% | +6.78% | |
| 11 | CCJ | Cameco CORP | 股票-能源 | 0.95% | -0.44% | -12.86% | |
| 12 | FTAI | FTAI Aviation Ltd. | 股票-工業 | 0.94% | -0.60% | +6.94% | |
| 13 | RYTM | Rhythm Pharmaceuticals Inc | 股票-其他 | 0.93% | -0.20% | -7.12% | |
| 14 | HDB | Hdfc Bank Ltd-adr | 股票-金融 | 0.92% | — | +16.13% | |
| 15 | BAP | Credicorp Ltd. | 股票-金融 | 0.92% | +0.14% | +6.76% | |
| 16 | SEPN | Septerna Inc | 股票-其他 | 0.91% | +0.08% | -2.24% | |
| 17 | NU | Nu Holdings Ltd. | 股票-金融 | 0.88% | -0.13% | +91.85% | |
| 18 | BBIO | Bridgebio Pharma Inc | 股票-醫療保健 | 0.87% | -0.63% | EXIT | |
| 19 | PI | Impinj Inc | 股票-科技 | 0.87% | — | +43.34% | |
| 20 | CRS | Carpenter Technology | 股票-工業 | 0.86% | -0.10% | +47.22% | |
| 21 | CW | Curtiss-wright CORP | 股票-工業 | 0.86% | -0.12% | -14.56% | |
| 22 | LITE | Lumentum Holdings Inc | 股票-科技 | 0.85% | -0.77% | -43.82% | |
| 23 | IBN | Icici Bank Ltd-spon Adr | 股票-金融 | 0.82% | — | -24.18% | |
| 24 | IDCC | Interdigital Inc | 股票-科技 | 0.81% | -0.62% | +13.64% | |
| 25 | XMTR | Xometry Inc-a | 股票-其他 | 0.80% | +0.54% | +32.65% | |
| 26 | ARWR | Arrowhead Pharmaceuticals In | 股票-醫療保健 | 0.80% | +0.09% | -15.72% | |
| 27 | GPCR | Structure Therapeutics Inc | 股票-其他 | 0.78% | -0.08% | +88.03% | |
| 28 | WVE | Wave Life Sciences Ltd. | 股票-其他 | 0.76% | -0.11% | +4.49% | |
| 29 | FN | Fabrinet | 股票-科技 | 0.75% | -1.44% | -35.47% | |
| 30 | WFRD | Weatherford International plc | 股票-能源 | 0.74% | — | +43.56% | |
| 31 | UEC | Uranium Energy CORP | 股票-能源 | 0.72% | -0.65% | -3.96% | |
| 32 | EWTX | Edgewise Therapeutics Inc | 股票-其他 | 0.71% | +0.07% | +88.09% | |
| 33 | EMBJ | Embraer Sa-spon Adr | 股票-工業 | 0.70% | — | +71.16% | |
| 34 | KRMN | Karman Holdings Inc | 股票-工業 | 0.67% | -0.58% | EXIT | |
| 35 | PTGX | Protagonist Therapeutics Inc | 股票-其他 | 0.65% | -0.04% | -3.57% | |
| 36 | TARS | Tarsus Pharmaceuticals Inc | 股票-其他 | 0.65% | -0.36% | +13.71% | |
| 37 | CVNA | Carvana Co | 股票-循環性消費 | 0.65% | — | -28.61% | |
| 38 | SYRE | Spyre Therapeutics Inc | 股票-其他 | 0.64% | +0.41% | +39.90% | |
| 39 | CR | Crane Co | 股票-工業 | 0.63% | -0.22% | -6.07% | |
| 40 | EYE | National Vision Holdings Inc | 股票-其他 | 0.63% | -0.66% | EXIT | |
| 41 | VSEC | Vse CORP | 股票-工業 | 0.61% | -0.54% | +54.06% | |
| 42 | RMBS | Rambus Inc | 股票-科技 | 0.60% | — | — | |
| 43 | DFTX | Definium Therapeutics Inc | 股票-其他 | 0.59% | +1.05% | — | |
| 44 | TMDX | Transmedics Group Inc | 股票-醫療保健 | 0.59% | -0.03% | EXIT | |
| 45 | PTCT | Ptc Therapeutics Inc | 股票-醫療保健 | 0.59% | +0.17% | +0.39% | |
| 46 | SRRK | Scholar Rock Holding CORP | 股票-其他 | 0.58% | +0.01% | -3.51% | |
| 47 | SPXC | Spx Technologies Inc | 股票-工業 | 0.58% | -0.12% | +56.06% | |
| 48 | ITUB | Itau Unibanco H-spon Prf Adr | 股票-金融 | 0.58% | -0.08% | +11.96% | |
| 49 | KYMR | Kymera Therapeutics Inc | 股票-其他 | 0.57% | -0.03% | +13.86% | |
| 50 | COHR | Coherent CORP | 股票-科技 | 0.56% | -0.31% | +2.07% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | PRAX | Praxis Precision Medicines I | +1.7% | +86.41% | 加碼 |
| 2 | GPCR | Structure Therapeutics Inc | +0.6% | +88.03% | 加碼 |
| 3 | EOSE | Eos Energy Enterprises Inc | +0.6% | +117.35% | 加碼 |
| 4 | GH | Guardant Health Inc | +0.5% | -0.42% | 減碼 |
| 5 | APGE | Apogee Therapeutics Inc | +0.5% | +1.17% | 加碼 |
| 6 | IMNM | Immunome Inc | +0.5% | +432.05% | 加碼 |
| 7 | EWTX | Edgewise Therapeutics Inc | +0.5% | +88.09% | 加碼 |
| 8 | WVE | Wave Life Sciences Ltd. | +0.4% | +4.49% | 加碼 |
| 9 | NU | Nu Holdings Ltd. | +0.4% | +91.85% | 加碼 |
| 10 | SYRE | Spyre Therapeutics Inc | +0.4% | +39.90% | 加碼 |
| 11 | CRS | Carpenter Technology | +0.4% | +47.22% | 加碼 |
| 12 | ARQT | Arcutis Biotherapeutics Inc | +0.4% | +133.59% | 加碼 |
| 13 | EMBJ | Embraer Sa-spon Adr | +0.3% | +71.16% | 加碼 |
| 14 | ULS | Ul Solutions Inc - Class A | +0.3% | +191.94% | 加碼 |
| 15 | NTRA | Natera Inc | +0.3% | +6.78% | 加碼 |
| 16 | ARWR | Arrowhead Pharmaceuticals In | +0.3% | -15.72% | 減碼 |
| 17 | ONTO | Onto Innovation Inc | +0.3% | +247.38% | 加碼 |
| 18 | WFRD | Weatherford International plc | +0.3% | +43.56% | 加碼 |
| 19 | REAL | Realreal Inc/the | +0.3% | +53.65% | 加碼 |
| 20 | GGAL | Grupo Financiero Galicia-adr | +0.3% | +31.52% | 加碼 |
| 21 | ATEC | Alphatec Holdings Inc | +0.3% | +102.81% | 加碼 |
| 22 | ORA | Ormat Technologies Inc | +0.3% | +226.41% | 加碼 |
| 23 | BBIO | Bridgebio Pharma Inc | +0.3% | +1.14% | 加碼 |
| 24 | SEPN | Septerna Inc | +0.3% | -2.24% | 減碼 |
| 25 | SMTC | Semtech CORP | +0.2% | +108.33% | 加碼 |
| 26 | MTSI | Macom Technology Solutions H | +0.2% | +28.58% | 加碼 |
| 27 | NXT | Nextpower Inc-cl A | +0.2% | +74.38% | 加碼 |
| 28 | VIST | Vista Energy Sab De Cv | +0.2% | +1123.28% | 加碼 |
| 29 | XMTR | Xometry Inc-a | +0.2% | +32.65% | 加碼 |
| 30 | COHR | Coherent CORP | +0.2% | +2.07% | 加碼 |
| 31 | TARS | Tarsus Pharmaceuticals Inc | +0.2% | +13.71% | 加碼 |
| 32 | SPXC | Spx Technologies Inc | +0.2% | +56.06% | 加碼 |
| 33 | VSEC | Vse CORP | +0.2% | +54.06% | 加碼 |
| 34 | PI | Impinj Inc | +0.2% | +43.34% | 加碼 |
| 35 | NUVL | Nuvalent Inc-a | +0.2% | +123.27% | 加碼 |
| 36 | KYMR | Kymera Therapeutics Inc | +0.2% | +13.86% | 加碼 |
| 37 | XENE | Xenon Pharmaceuticals Inc | +0.2% | +8.86% | 加碼 |
| 38 | CUBI | Customers Bancorp Inc | +0.2% | +79.75% | 加碼 |
| 39 | COCO | Vita Coco Co Inc/the | +0.2% | +61.88% | 加碼 |
| 40 | SGI | Somnigroup International Inc | +0.2% | +173.53% | 加碼 |
| 41 | TNL | Travel + Leisure Co | +0.2% | +52.16% | 加碼 |
| 42 | FTAI | FTAI Aviation Ltd. | +0.2% | +6.94% | 加碼 |
| 43 | EYE | National Vision Holdings Inc | +0.2% | +59.88% | 加碼 |
| 44 | ATRO | Astronics CORP | +0.2% | +155.55% | 加碼 |
| 45 | OSIS | Osi Systems Inc | +0.2% | +60.33% | 加碼 |
| 46 | 62C | Piper Sandler Cos | +0.2% | +86.46% | 加碼 |
| 47 | INDA | Ishares Msci India ETF | +0.2% | +449.51% | 加碼 |
| 48 | DQ | Daqo New Energy Corp-adr | +0.2% | +955.80% | 加碼 |
| 49 | LITE | Lumentum Holdings Inc | +0.1% | -43.82% | 減碼 |
| 50 | HDB | Hdfc Bank Ltd-adr | +0.1% | +16.13% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Driehaus Capital Management LLC 在 Q4 2025 季度的美股持倉總市值約為 US$172.6億，共申報了 404 個公開持股部位。
在 Q4 2025 季度，Driehaus Capital Management LLC 按市值排列的前三大核心持股分別為：TSM (4.5%)、CRNX (2.0%)、PRAX (1.9%)。其中最大持股部位 TSM 佔據整體投資組合約 4.5% 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
RMBS
市值: US$8767.8萬
本季最大獲利了結 / 清倉標的
CVLT
前期市值: US$1.2億
在 Q4 2025 季度中，Driehaus Capital Management LLC 共進行了 200 項持倉異動，包含新建倉 43 個部位、加碼 57 個部位、減碼 54 個部位以及清倉 46 個部位。 其中最大新建倉標的為 RMBS。 本季清倉部位包含 CVLT。
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。