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: 0000949615
申報總市值
US$51.0億
US$51.0億
44 檔
39.5%
截至 Q4 2025 季度末，Kayne Anderson Capital Advisors LP 的美股持倉估值約為 US$51.0億，全數申報部位共有 44 檔。
在 Q4 2025，Kayne Anderson Capital Advisors LP 展現出較為審慎的避險與獲利了結姿態。本季共減碼 22 個部位並完全清倉 11 檔持股，調降曝險的部位數量高於加碼動作。
整體而言，Kayne Anderson Capital Advisors LP 的前 5 大持股（包含 WMB, EPD, ET）貢獻了組合市值的 39.5%，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 | WMB | Williams Cos Inc | 股票-能源 | 10.44% | +0.46% | +0.38% | |
| 2 | EPD | Enterprise Products Partners | 股票-能源 | 9.72% | -0.17% | -0.05% | |
| 3 | ET | Energy Transfer LP | 股票-能源 | 8.97% | -0.04% | -0.05% | |
| 4 | MPLX | Mplx LP | 股票-能源 | 8.76% | -0.99% | -0.09% | |
| 5 | KMI | Kinder Morgan, Inc. | 股票-能源 | 7.88% | -1.20% | +1.33% | |
| 6 | LNG | Cheniere Energy Inc | 股票-能源 | 6.94% | -0.09% | -0.92% | |
| 7 | TRP | Tc Energy CORP | 股票-能源 | 6.68% | -0.68% | -0.26% | |
| 8 | OKE | Oneok Inc | 股票-能源 | 6.06% | -0.11% | +1.94% | |
| 9 | ENB | Enbridge Inc | 股票-能源 | 4.99% | -0.98% | -0.22% | |
| 10 | MNR | Mach Natural Resources LP | 股票-其他 | 4.81% | -1.24% | — | |
| 11 | TRGP | Targa Resources CORP | 股票-能源 | 3.62% | +1.37% | -16.04% | |
| 12 | WES | Western Midstream Partners L | 股票-能源 | 3.50% | +0.28% | +14.11% | |
| 13 | DTM | Dt Midstream Inc | 股票-能源 | 2.35% | +0.17% | -0.40% | |
| 14 | PAA | Plains All Amer Pipeline LP | 股票-能源 | 2.09% | +0.05% | — | |
| 15 | SRE | Sempra | 股票-公用事業 | 1.92% | -0.01% | -1.13% | |
| 16 | AM | Antero Midstream CORP | 股票-能源 | 1.83% | -0.88% | +25.89% | |
| 17 | PBA | Pembina Pipeline CORP | 股票-能源 | 1.53% | +0.54% | -0.12% | |
| 18 | HESM | Hess Midstream LP - Class A | 股票-其他 | 1.29% | -0.83% | +20.74% | |
| 19 | ETR | Entergy CORP | 股票-公用事業 | 1.29% | -0.43% | -1.67% | |
| 20 | CNP | Centerpoint Energy Inc | 股票-公用事業 | 1.08% | +0.08% | — | |
| 21 | LIN | Linde plc | 股票-原物料 | 0.81% | — | -0.08% | |
| 22 | EE | Excelerate Energy Inc-a | 股票-其他 | 0.58% | +0.09% | +16.57% | |
| 23 | AROC | Archrock Inc | 股票-能源 | 0.33% | +0.11% | -0.32% | |
| 24 | PPL | Ppl CORP | 股票-公用事業 | 0.30% | +0.05% | -16.92% | |
| 25 | KYN | Kayne Anderson Energy Infra | 股票-其他 | 0.23% | -0.22% | EXIT | |
| 26 | NRG | Nrg Energy Inc | 股票-公用事業 | 0.19% | -0.06% | -5.57% | |
| 27 | EXC | Exelon CORP | 股票-公用事業 | 0.19% | — | +9.04% | |
| 28 | KNRG | Smplfy Kyn Andr En & Infr Cr | ETF-其他 | 0.18% | +0.01% | — | |
| 29 | NFG | National Fuel Gas Co | 股票-能源 | 0.17% | -0.10% | -0.74% | |
| 30 | TLN | Talen Energy CORP | 股票-公用事業 | 0.13% | -0.02% | -1.19% | |
| 31 | XEL | Xcel Energy Inc | 股票-公用事業 | 0.13% | -0.15% | EXIT | |
| 32 | GEV | GE Vernova Inc | 股票-工業 | 0.12% | +0.01% | -1.19% | |
| 33 | CTRI | Centuri Holdings Inc | 股票-其他 | 0.11% | -0.06% | EXIT | |
| 34 | AQN | Algonquin Power & Utilities | 股票-其他 | 0.11% | — | -1.18% | |
| 35 | PCG 6 12-01-27 A債券 | Pg&e CORP | 債券 | 0.10% | — | -67.07% | |
| 36 | PWR | Quanta Services Inc | 股票-工業 | 0.10% | +0.01% | -88.95% | |
| 37 | POWL | Powell Industries Inc | 股票-工業 | 0.08% | +0.02% | — | |
| 38 | PAGP | Plains Gp Holdings Lp-cl A | 股票-能源 | 0.08% | — | -2.05% | |
| 39 | AES | Aes CORP | 股票-公用事業 | 0.08% | — | — | |
| 40 | NEE 7.234 11-01-27債券 | Nextera Energy Inc | 債券 | 0.07% | — | +140.00% | |
| 41 | NXE | Nexgen Energy LTD | 股票-其他 | 0.07% | — | — | |
| 42 | CCJ | Cameco CORP | 股票-能源 | 0.06% | — | +115.96% | |
| 43 | KGS | Kodiak Gas Services Inc | 股票-其他 | 0.03% | +0.96% | -2.06% | |
| 44 | GLP | Global Partners LP | 股票-其他 | 0.03% | +0.23% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | MPLX | Mplx LP | +0.8% | -0.09% | 減碼 |
| 2 | WES | Western Midstream Partners L | +0.6% | +14.11% | 加碼 |
| 3 | EPD | Enterprise Products Partners | +0.6% | -0.05% | 減碼 |
| 4 | OKE | Oneok Inc | +0.4% | +1.94% | 加碼 |
| 5 | AM | Antero Midstream CORP | +0.3% | +25.89% | 加碼 |
| 6 | TRP | Tc Energy CORP | +0.3% | -0.26% | 減碼 |
| 7 | HESM | Hess Midstream LP - Class A | +0.3% | +20.74% | 加碼 |
| 8 | DTM | Dt Midstream Inc | +0.2% | -0.40% | 減碼 |
| 9 | PAA | Plains All Amer Pipeline LP | +0.2% | — | 不變 |
| 10 | EE | Excelerate Energy Inc-a | +0.2% | +16.57% | 加碼 |
| 11 | KMI | Kinder Morgan, Inc. | +0.1% | +1.33% | 加碼 |
| 12 | NEE 7.234 11-01-27債券 | Nextera Energy Inc | 0% | +140.00% | 加碼 |
| 13 | CCJ | Cameco CORP | 0% | +115.96% | 加碼 |
| 14 | ETR | Entergy CORP | 0% | -1.67% | 減碼 |
| 15 | AQN | Algonquin Power & Utilities | 0% | -1.18% | 減碼 |
| 16 | EXC | Exelon CORP | 0% | +9.04% | 加碼 |
| 17 | SRE | Sempra | 0% | -1.13% | 減碼 |
| 18 | GEV | GE Vernova Inc | 0% | -1.19% | 減碼 |
| 19 | AROC | Archrock Inc | 0% | -0.32% | 減碼 |
| 20 | NRG | Nrg Energy Inc | 0% | -5.57% | 減碼 |
| 21 | NFG | National Fuel Gas Co | 0% | -0.74% | 減碼 |
| 22 | TLN | Talen Energy CORP | 0% | -1.19% | 減碼 |
| 23 | PBA | Pembina Pipeline CORP | 0% | -0.12% | 減碼 |
| 24 | ET | Energy Transfer LP | -0.1% | -0.05% | 減碼 |
| 25 | LIN | Linde plc | -0.1% | -0.08% | 減碼 |
| 26 | PPL | Ppl CORP | -0.1% | -16.92% | 減碼 |
| 27 | ENB | Enbridge Inc | -0.1% | -0.22% | 減碼 |
| 28 | XEL | Xcel Energy Inc | -0.1% | -46.15% | 減碼 |
| 29 | WMB | Williams Cos Inc | -0.2% | +0.38% | 加碼 |
| 30 | TRGP | Targa Resources CORP | -0.2% | -16.04% | 減碼 |
| 31 | PCG 6 12-01-27 A債券 | Pg&e CORP | -0.2% | -67.07% | 減碼 |
| 32 | MNR | Mach Natural Resources LP | -0.7% | — | 不變 |
| 33 | PWR | Quanta Services Inc | -0.8% | -88.95% | 減碼 |
| 34 | LNG | Cheniere Energy Inc | -1.2% | -0.92% | 減碼 |
| 35 | CNP | Centerpoint Energy Inc | — | NEW | 新建倉 |
| 36 | APD | Air Products & Chemicals Inc | — | EXIT | 清倉 |
| 37 | ✓ | Utilities Select Sector SPDR | — | EXIT | 清倉 |
| 38 | NEE 7.299 06-01-27債券 | Nextera Energy Inc | — | EXIT | 清倉 |
| 39 | VST | Vistra CORP | — | EXIT | 清倉 |
| 40 | CTRI | Centuri Holdings Inc | — | NEW | 新建倉 |
| 41 | FSLR | First Solar Inc | — | EXIT | 清倉 |
| 42 | POWL | Powell Industries Inc | — | NEW | 新建倉 |
| 43 | XOP | Ss Spdr S&p Og Exp & Prod | — | EXIT | 清倉 |
| 44 | AES | Aes CORP | — | NEW | 新建倉 |
| 45 | NXE | Nexgen Energy LTD | — | NEW | 新建倉 |
| 46 | GNRC | Generac Holdings Inc | — | EXIT | 清倉 |
| 47 | NXT | Nextpower Inc-cl A | — | EXIT | 清倉 |
| 48 | EOSE | Eos Energy Enterprises Inc | — | EXIT | 清倉 |
| 49 | ARRY | Array Technologies Inc | — | EXIT | 清倉 |
| 50 | SHLS | Shoals Technologies Group -a | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Kayne Anderson Capital Advisors LP 在 Q4 2025 季度的美股持倉總市值約為 US$51.0億，共申報了 44 個公開持股部位。
在 Q4 2025 季度，Kayne Anderson Capital Advisors LP 按市值排列的前三大核心持股分別為：WMB (10.4%)、EPD (9.7%)、ET (9.0%)。其中最大持股部位 WMB 佔據整體投資組合約 10.4% 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
CNP
市值: US$4734.7萬
本季最大獲利了結 / 清倉標的
APD
前期市值: US$2718.1萬
在 Q4 2025 季度中，Kayne Anderson Capital Advisors LP 共進行了 48 項持倉異動，包含新建倉 5 個部位、加碼 10 個部位、減碼 22 個部位以及清倉 11 個部位。 其中最大新建倉標的為 CNP。 本季清倉部位包含 APD。
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。