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: 0001798849
申報總市值
US$102.8億
US$102.8億
40 檔
35.3%
Q4 2025 季度申報顯示，Durable Capital Partners LP 揭露的美股組合總市值為 US$102.8億，涵蓋 40 個不同之權益投資部位。
Durable Capital Partners LP 在 Q4 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 35 檔，反映機構對當前市場環境或個別公司估值採取較為保留之看法。
整體而言，Durable Capital Partners LP 的前 5 大持股（包含 RBC, DASH, MELI）貢獻了組合市值的 35.3%，形成該機構在 Q4 2025 季度的基本面基石。
| # | 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 | RBC | RBC Bearings Inc | 股票-工業 | 9.95% | -2.02% | -6.99% | |
| 2 | DASH | Doordash Inc - A | 股票-循環性消費 | 7.67% | +0.85% | +114.08% | |
| 3 | MELI | Mercadolibre Inc | 股票-循環性消費 | 5.87% | -1.14% | +75.52% | |
| 4 | CPNG | Coupang Inc | 股票-循環性消費 | 5.46% | -1.84% | -1.53% | |
| 5 | APG | Api Group CORP | 股票-工業 | 5.44% | -1.16% | +0.80% | |
| 6 | XPO | Xpo Inc | 股票-工業 | 5.08% | -1.04% | -8.82% | |
| 7 | CIGI | Colliers Intl Gr-subord Vot | 股票-其他 | 4.69% | -0.91% | EXIT | |
| 8 | FOUR | Shift4 Payments Inc-class A | 股票-科技 | 3.94% | -0.69% | +17.43% | |
| 9 | CVNA | Carvana Co | 股票-循環性消費 | 3.69% | +1.08% | +3.65% | |
| 10 | FERG | Ferguson Enterprises Inc | 股票-工業 | 3.29% | +1.62% | +43.38% | |
| 11 | RKT | Rocket Cos Inc-class A | 股票-金融 | 3.20% | -0.30% | +58.95% | |
| 12 | SHOP | Shopify Inc - Class A | 股票-科技 | 3.11% | +1.40% | -55.03% | |
| 13 | AYI | Acuity Inc | 股票-工業 | 2.78% | -0.78% | -40.21% | |
| 14 | MDLN | Medline Inc-cl A | 股票-其他 | 2.74% | -2.32% | — | |
| 15 | PRVA | Privia Health Group Inc | 股票-其他 | 2.71% | +0.35% | +3.39% | |
| 16 | OPCH | Option Care Health Inc | 股票-醫療保健 | 2.71% | -1.23% | +20.98% | |
| 17 | AFRM | Affirm Holdings Inc | 股票-金融 | 2.59% | +0.85% | -41.28% | |
| 18 | Q | Qnity Electronics Inc | 股票-科技 | 2.16% | +1.19% | — | |
| 19 | VEEV | Veeva Systems Inc-class A | 股票-醫療保健 | 2.01% | — | -24.38% | |
| 20 | ULS | Ul Solutions Inc - Class A | 股票-工業 | 1.91% | +0.01% | — | |
| 21 | CLH | Clean Harbors Inc | 股票-工業 | 1.85% | -0.51% | +45.51% | |
| 22 | WRBY | Warby Parker Inc-class A | 股票-其他 | 1.51% | +0.50% | -16.48% | |
| 23 | VSEC | Vse CORP | 股票-工業 | 1.44% | -0.49% | +1.64% | |
| 24 | DSGX | Descartes Systems Grp/the | 股票-科技 | 1.42% | — | — | |
| 25 | SRAD | Sportradar Group AG | 股票-其他 | 1.34% | — | — | |
| 26 | TWLO | Twilio Inc - A | 股票-科技 | 1.29% | +3.70% | NEW | |
| 27 | TECH | Bio-techne CORP | 股票-醫療保健 | 1.16% | -2.06% | +49.64% | |
| 28 | YOU | Clear Secure Inc -class A | 股票-科技 | 1.15% | -1.48% | EXIT | |
| 29 | GSHD | Goosehead Insurance Inc -a | 股票-其他 | 1.09% | +0.18% | +1.35% | |
| 30 | APP | Applovin Corp-class A | 股票-科技 | 1.04% | — | -13.01% | |
| 31 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 0.93% | — | -66.97% | |
| 32 | RBLX | Roblox CORP -class A | 股票-通訊服務 | 0.89% | -0.38% | EXIT | |
| 33 | CBZ | Cbiz Inc | 股票-其他 | 0.78% | — | -58.42% | |
| 34 | TOST | Toast Inc-class A | 股票-科技 | 0.77% | — | -63.86% | |
| 35 | FSV | Firstservice CORP | 股票-其他 | 0.64% | — | -80.30% | |
| 36 | FIG | Figma Inc-cl A | 股票-其他 | 0.61% | — | -67.83% | |
| 37 | ANDG | Andersen Group Inc - A | 股票-其他 | 0.41% | +0.14% | — | |
| 38 | AUR | Aurora Innovation Inc | 股票-循環性消費 | 0.25% | +0.66% | -43.80% | |
| 39 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 0.23% | -2.62% | EXIT | |
| 40 | DUOL | Duolingo | 股票-科技 | 0.20% | — | -86.38% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | DASH | Doordash Inc - A | +4.3% | +114.08% | 加碼 |
| 2 | MELI | Mercadolibre Inc | +2.8% | +75.52% | 加碼 |
| 3 | RBC | RBC Bearings Inc | +2.7% | -6.99% | 減碼 |
| 4 | APG | Api Group CORP | +1.7% | +0.80% | 加碼 |
| 5 | RKT | Rocket Cos Inc-class A | +1.6% | +58.95% | 加碼 |
| 6 | FERG | Ferguson Enterprises Inc | +1.5% | +43.38% | 加碼 |
| 7 | CVNA | Carvana Co | +1.2% | +3.65% | 加碼 |
| 8 | OPCH | Option Care Health Inc | +1.2% | +20.98% | 加碼 |
| 9 | XPO | Xpo Inc | +0.9% | -8.82% | 減碼 |
| 10 | CLH | Clean Harbors Inc | +0.9% | +45.51% | 加碼 |
| 11 | FOUR | Shift4 Payments Inc-class A | +0.7% | +17.43% | 加碼 |
| 12 | TECH | Bio-techne CORP | +0.6% | +49.64% | 加碼 |
| 13 | PRVA | Privia Health Group Inc | +0.6% | +3.39% | 加碼 |
| 14 | CIGI | Colliers Intl Gr-subord Vot | +0.4% | -8.90% | 減碼 |
| 15 | VSEC | Vse CORP | +0.4% | +1.64% | 加碼 |
| 16 | GSHD | Goosehead Insurance Inc -a | +0.2% | +1.35% | 加碼 |
| 17 | APP | Applovin Corp-class A | 0% | -13.01% | 減碼 |
| 18 | AUR | Aurora Innovation Inc | -0.2% | -43.80% | 減碼 |
| 19 | WRBY | Warby Parker Inc-class A | -0.3% | -16.48% | 減碼 |
| 20 | YOU | Clear Secure Inc -class A | -0.4% | -45.63% | 減碼 |
| 21 | CPNG | Coupang Inc | -0.5% | -1.53% | 減碼 |
| 22 | AYI | Acuity Inc | -0.7% | -40.21% | 減碼 |
| 23 | CBZ | Cbiz Inc | -0.8% | -58.42% | 減碼 |
| 24 | VEEV | Veeva Systems Inc-class A | -0.8% | -24.38% | 減碼 |
| 25 | AFRM | Affirm Holdings Inc | -0.8% | -41.28% | 減碼 |
| 26 | TOST | Toast Inc-class A | -1% | -63.86% | 減碼 |
| 27 | BKNG | Booking Holdings Inc | -1.3% | -66.97% | 減碼 |
| 28 | FIG | Figma Inc-cl A | -1.5% | -67.83% | 減碼 |
| 29 | SHOP | Shopify Inc - Class A | -1.9% | -55.03% | 減碼 |
| 30 | DUOL | Duolingo | -1.9% | -86.38% | 減碼 |
| 31 | FSV | Firstservice CORP | -2.1% | -80.30% | 減碼 |
| 32 | RBLX | Roblox CORP -class A | -2.7% | -67.06% | 減碼 |
| 33 | ENTG | Entegris Inc | — | EXIT | 清倉 |
| 34 | FLUT | Flutter Entertainment plc | — | EXIT | 清倉 |
| 35 | WST | West Pharmaceutical Services | — | EXIT | 清倉 |
| 36 | INTU | Intuit Inc | — | EXIT | 清倉 |
| 37 | MDLN | Medline Inc-cl A | — | NEW | 新建倉 |
| 38 | Q | Qnity Electronics Inc | — | NEW | 新建倉 |
| 39 | ESAB | Esab CORP | — | EXIT | 清倉 |
| 40 | ULS | Ul Solutions Inc - Class A | — | NEW | 新建倉 |
| 41 | WIX | Wix.com Ltd. | — | EXIT | 清倉 |
| 42 | HUBS | Hubspot Inc | — | EXIT | 清倉 |
| 43 | DSGX | Descartes Systems Grp/the | — | NEW | 新建倉 |
| 44 | SRAD | Sportradar Group AG | — | NEW | 新建倉 |
| 45 | TWLO | Twilio Inc - A | — | NEW | 新建倉 |
| 46 | FND | Floor & Decor Holdings Inc-a | — | EXIT | 清倉 |
| 47 | MASI* | Masimo CORP | — | EXIT | 清倉 |
| 48 | RH | Rh | — | EXIT | 清倉 |
| 49 | ANDG | Andersen Group Inc - A | — | NEW | 新建倉 |
| 50 | BIRK | Birkenstock Holding plc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Durable Capital Partners LP 在 Q4 2025 季度的美股持倉總市值約為 US$102.8億，共申報了 40 個公開持股部位。
在 Q4 2025 季度，Durable Capital Partners LP 按市值排列的前三大核心持股分別為：RBC (9.9%)、DASH (7.7%)、MELI (5.9%)。其中最大持股部位 RBC 佔據整體投資組合約 9.9% 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
MDLN
市值: US$2.9億
本季最大獲利了結 / 清倉標的
ENTG
前期市值: US$3.5億
在 Q4 2025 季度中，Durable Capital Partners LP 共進行了 56 項持倉異動，包含新建倉 8 個部位、加碼 13 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 MDLN。 本季清倉部位包含 ENTG。
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。