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: 0001125725
申報總市值
US$5.1億
US$5.1億
86 檔
30.4%
Q4 2025 季度申報顯示，Gagnon Securities LLC 揭露的美股組合總市值為 US$5.1億，涵蓋 86 個不同之權益投資部位。
Gagnon Securities LLC 在 Q4 2025 進行了結構性的板塊輪動與部位換股。在開立 2 個全新部位及加碼 20 檔持股的同時，亦同步清倉 2 檔並減碼 26 檔標的。
整體而言，Gagnon Securities LLC 的前 5 大持股（包含 CDNA, WGS, AL）貢獻了組合市值的 30.4%，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 | CDNA | Caredx Inc | 股票-其他 | 6.81% | +2.89% | +2.63% | |
| 2 | WGS | Genedx Holdings CORP | 股票-其他 | 6.71% | +2.62% | -5.77% | |
| 3 | AL | Air Lease CORP | 股票-其他 | 6.50% | — | -17.94% | |
| 4 | ENSG | Ensign Group Inc/the | 股票-醫療保健 | 6.40% | -2.86% | -1.36% | |
| 5 | AMRC | Ameresco Inc-cl A | 股票-其他 | 4.97% | -0.44% | -3.09% | |
| 6 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 3.67% | -1.07% | -26.67% | |
| 7 | EXK | Exact Sciences CORP | 股票-原物料 | 3.46% | — | -6.70% | |
| 8 | EPD | Enterprise Products Partners | 股票-能源 | 3.44% | -0.79% | -0.22% | |
| 9 | BL | Blackline Inc | 股票-科技 | 3.15% | -0.45% | +0.17% | |
| 10 | PROF | Profound Medical CORP | 股票-其他 | 3.12% | -0.34% | +12.18% | |
| 11 | FRSH | Freshworks Inc-cl A | 股票-其他 | 3.07% | -0.09% | -34.08% | |
| 12 | NVGS | Navigator Holdings Ltd. | 股票-其他 | 3.04% | -3.96% | EXIT | |
| 13 | EQIX | Equinix Inc | 股票-房地產 | 2.67% | -0.40% | -0.64% | |
| 14 | PCRX | Pacira Biosciences Inc | 股票-其他 | 2.64% | -0.18% | +11.45% | |
| 15 | BLFS | Biolife Solutions Inc | 股票-其他 | 2.63% | +0.62% | -0.26% | |
| 16 | FIVN | Five9 Inc | 股票-科技 | 2.55% | +0.86% | +108.99% | |
| 17 | KMX | Carmax Inc | 股票-循環性消費 | 2.52% | +0.42% | +41.86% | |
| 18 | CAKE | Cheesecake Factory Inc/the | 股票-循環性消費 | 2.33% | +0.64% | -0.33% | |
| 19 | CARG | Cargurus Inc | 股票-循環性消費 | 2.11% | +0.34% | -0.55% | |
| 20 | GNRC | Generac Holdings Inc | 股票-工業 | 2.10% | +0.84% | -2.54% | |
| 21 | AMPL | Amplitude Inc-class A | 股票-其他 | 1.65% | -0.08% | +36.84% | |
| 22 | HZO | Marinemax Inc | 股票-其他 | 1.59% | +0.15% | +23.23% | |
| 23 | TMCI | Treace Medical Concepts Inc | 股票-其他 | 1.55% | +0.77% | +37.74% | |
| 24 | VERX | Vertex Inc - Class A | 股票-其他 | 1.48% | +0.43% | -3.71% | |
| 25 | CMG | Chipotle Mexican Grill Inc | 股票-循環性消費 | 1.18% | -0.13% | +30.38% | |
| 26 | PRLB | Proto Labs Inc | 股票-其他 | 1.15% | +0.41% | +2.57% | |
| 27 | DV | Doubleverify Holdings Inc | 股票-其他 | 1.15% | +0.05% | -27.69% | |
| 28 | CELC | Celcuity Inc | 股票-其他 | 1.08% | -0.31% | -1.03% | |
| 29 | CTRE | Caretrust Reit Inc | 股票-房地產 | 0.98% | -0.10% | -1.93% | |
| 30 | KLTR | Kaltura Inc | 股票-其他 | 0.96% | -0.08% | -0.85% | |
| 31 | QDEL | Quidelortho CORP | 股票-其他 | 0.93% | +2.03% | +29.94% | |
| 32 | GOOG | Alphabet Inc. | 股票-通訊服務 | 0.87% | -0.86% | EXIT | |
| 33 | ICUI | Icu Medical Inc | 股票-其他 | 0.84% | -0.04% | +1.12% | |
| 34 | WCPRF | Whitecap Resources Inc | 股票-其他 | 0.83% | -0.24% | -0.09% | |
| 35 | PNTG | Pennant Group Inc/the | 股票-其他 | 0.79% | +0.01% | -2.93% | |
| 36 | NVDA | Nvidia CORP | 股票-科技 | 0.78% | -0.01% | -0.27% | |
| 37 | OSUR | Orasure Technologies Inc | 股票-其他 | 0.77% | +0.21% | -1.57% | |
| 38 | ASPN | Aspen Aerogels Inc | 股票-其他 | 0.65% | +0.45% | -35.42% | |
| 39 | TPR | Tapestry Inc | 股票-循環性消費 | 0.56% | — | -0.03% | |
| 40 | PTEN | Patterson-uti Energy Inc | 股票-能源 | 0.44% | -0.76% | +69.04% | |
| 41 | CNF | Cnfinance Holdings LTD | 股票-其他 | 0.39% | -0.10% | -0.11% | |
| 42 | NCNO | Ncino Inc | 股票-其他 | 0.38% | -0.04% | +92.10% | |
| 43 | MCHP | Microchip Technology Inc | 股票-科技 | 0.35% | +0.07% | +0.51% | |
| 44 | GNL | Global Net Lease Inc | 股票-房地產 | 0.30% | -0.09% | -12.01% | |
| 45 | GNTX | Gentex CORP | 股票-循環性消費 | 0.26% | -0.01% | +0.83% | |
| 46 | SAM | Boston Beer Company Inc-a | 股票-非循環性消費 | 0.25% | -0.13% | -70.45% | |
| 47 | NTDOY | Nintendo Co Ltd-unspons Adr | 股票-其他 | 0.24% | -0.08% | +0.25% | |
| 48 | SLG | Sl Green Realty CORP | 股票-房地產 | 0.24% | +0.04% | -0.57% | |
| 49 | PFE | Pfizer Inc | 股票-醫療保健 | 0.22% | -0.18% | +2.76% | |
| 50 | FLG | Flagstar Bank NA | 股票-金融 | 0.19% | -0.01% | -0.11% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CDNA | Caredx Inc | +1.8% | +2.63% | 加碼 |
| 2 | EXK | Exact Sciences CORP | +1.5% | -6.70% | 減碼 |
| 3 | PROF | Profound Medical CORP | +1.4% | +12.18% | 加碼 |
| 4 | FIVN | Five9 Inc | +1.1% | +108.99% | 加碼 |
| 5 | WGS | Genedx Holdings CORP | +0.9% | -5.77% | 減碼 |
| 6 | CELC | Celcuity Inc | +0.6% | -1.03% | 減碼 |
| 7 | AMPL | Amplitude Inc-class A | +0.6% | +36.84% | 加碼 |
| 8 | KMX | Carmax Inc | +0.5% | +41.86% | 加碼 |
| 9 | NVGS | Navigator Holdings Ltd. | +0.4% | -0.46% | 減碼 |
| 10 | PCRX | Pacira Biosciences Inc | +0.3% | +11.45% | 加碼 |
| 11 | HZO | Marinemax Inc | +0.3% | +23.23% | 加碼 |
| 12 | CMG | Chipotle Mexican Grill Inc | +0.2% | +30.38% | 加碼 |
| 13 | PTEN | Patterson-uti Energy Inc | +0.2% | +69.04% | 加碼 |
| 14 | QDEL | Quidelortho CORP | +0.2% | +29.94% | 加碼 |
| 15 | BL | Blackline Inc | +0.2% | +0.17% | 加碼 |
| 16 | NCNO | Ncino Inc | +0.2% | +92.10% | 加碼 |
| 17 | ICUI | Icu Medical Inc | +0.2% | +1.12% | 加碼 |
| 18 | KLTR | Kaltura Inc | +0.1% | -0.85% | 減碼 |
| 19 | CNF | Cnfinance Holdings LTD | +0.1% | -0.11% | 減碼 |
| 20 | EPD | Enterprise Products Partners | +0.1% | -0.22% | 減碼 |
| 21 | WCPRF | Whitecap Resources Inc | +0.1% | -0.09% | 減碼 |
| 22 | GAMB | Gambling.com Group Limited | +0.1% | +357.76% | 加碼 |
| 23 | CARG | Cargurus Inc | +0.1% | -0.55% | 減碼 |
| 24 | TPR | Tapestry Inc | +0.1% | -0.03% | 減碼 |
| 25 | PNTG | Pennant Group Inc/the | +0.1% | -2.93% | 減碼 |
| 26 | PRLB | Proto Labs Inc | +0.1% | +2.57% | 加碼 |
| 27 | WEAV | Weave Communications Inc | +0.1% | +54.77% | 加碼 |
| 28 | EQIX | Equinix Inc | 0% | -0.64% | 減碼 |
| 29 | SHOP | Shopify Inc - Class A | 0% | -31.08% | 減碼 |
| 30 | GNTX | Gentex CORP | -0.1% | +0.83% | 加碼 |
| 31 | NTDOY | Nintendo Co Ltd-unspons Adr | -0.1% | +0.25% | 加碼 |
| 32 | SLG | Sl Green Realty CORP | -0.1% | -0.57% | 減碼 |
| 33 | BLFS | Biolife Solutions Inc | -0.1% | -0.26% | 減碼 |
| 34 | CAKE | Cheesecake Factory Inc/the | -0.2% | -0.33% | 減碼 |
| 35 | ISRG | Intuitive Surgical Inc | -0.2% | -26.67% | 減碼 |
| 36 | OSUR | Orasure Technologies Inc | -0.3% | -1.57% | 減碼 |
| 37 | GOOG | Alphabet Inc. | -0.3% | +0.14% | 加碼 |
| 38 | VERX | Vertex Inc - Class A | -0.4% | -3.71% | 減碼 |
| 39 | DV | Doubleverify Holdings Inc | -0.5% | -27.69% | 減碼 |
| 40 | GNRC | Generac Holdings Inc | -0.5% | -2.54% | 減碼 |
| 41 | SAM | Boston Beer Company Inc-a | -0.7% | -70.45% | 減碼 |
| 42 | AMRC | Ameresco Inc-cl A | -0.8% | -3.09% | 減碼 |
| 43 | AL | Air Lease CORP | -1.2% | -17.94% | 減碼 |
| 44 | FRSH | Freshworks Inc-cl A | -1.3% | -34.08% | 減碼 |
| 45 | TMCI | Treace Medical Concepts Inc | -1.5% | +37.74% | 加碼 |
| 46 | ASPN | Aspen Aerogels Inc | -1.8% | -35.42% | 減碼 |
| 47 | PSIX | Power Solutions Internationa | — | EXIT | 清倉 |
| 48 | BLZE | Backblaze Inc-a | — | EXIT | 清倉 |
| 49 | BX | Blackstone Inc | — | NEW | 新建倉 |
| 50 | AKAM | Akamai Technologies Inc | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Gagnon Securities LLC 在 Q4 2025 季度的美股持倉總市值約為 US$5.1億，共申報了 86 個公開持股部位。
在 Q4 2025 季度，Gagnon Securities LLC 按市值排列的前三大核心持股分別為：CDNA (6.8%)、WGS (6.7%)、AL (6.5%)。其中最大持股部位 CDNA 佔據整體投資組合約 6.8% 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
BX
市值: US$22.7萬
本季最大獲利了結 / 清倉標的
PSIX
前期市值: US$636.2萬
在 Q4 2025 季度中，Gagnon Securities LLC 共進行了 50 項持倉異動，包含新建倉 2 個部位、加碼 20 個部位、減碼 26 個部位以及清倉 2 個部位。 其中最大新建倉標的為 BX。 本季清倉部位包含 PSIX。
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。