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: 0001399770
申報總市值
US$57.1億
US$57.1億
85 檔
83.6%
Q3 2025 季度申報顯示，Kohlberg Kravis Roberts & Co. L.P. 揭露的美股組合總市值為 US$57.1億，涵蓋 85 個不同之權益投資部位。
在 Q3 2025，Kohlberg Kravis Roberts & Co. L.P. 操作展現出積極擴展與加碼意向。本季共新建倉 35 個新部位，並對 23 個既有持股進行加碼（合計增持 58 檔），相較減碼與清倉部位顯著佔優。
檢視投資組合結構，前 5 大主力部位（包含 BTSG, HSIC, BBIO）占據了總市值的 83.6%，展現出該機構在 Q3 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 | BTSG | Brightspring Health Services | 股票-其他 | 38.19% | -0.55% | — | |
| 2 | HSIC | Henry Schein Inc | 股票-醫療保健 | 17.41% | +1.32% | — | |
| 3 | BBIO | Bridgebio Pharma Inc | 股票-醫療保健 | 11.54% | -1.12% | — | |
| 4 | NIQ | NIQ Global Intelligence plc | 股票-其他 | 7.90% | -1.46% | — | |
| 5 | PSKY | Paramount Skydance Cl B | 股票-通訊服務 | 4.96% | +0.03% | — | |
| 6 | BV | Brightview Holdings Inc | 股票-其他 | 4.88% | +0.59% | — | |
| 7 | CRGY | Crescent Energy Inc-a | 股票-能源 | 4.00% | -2.31% | — | |
| 8 | JBLU 0.5 04-01-26債券 | Jetblue Airways CORP | 債券 | 1.99% | — | -11.21% | |
| 9 | KREF | Kkr Real Estate Finance Trus | 股票-其他 | 1.51% | +0.06% | — | |
| 10 | MSGS | Madison Square Garden Sports | 股票-通訊服務 | 1.16% | — | — | |
| 11 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | 債券 | 0.62% | -0.04% | EXIT | |
| 12 | BHC | Bausch Health Cos Inc | 股票-醫療保健 | 0.57% | -0.08% | — | |
| 13 | CABO 0 03-15-26債券 | Cable One Inc | 債券 | 0.51% | — | +11.99% | |
| 14 | DXCM 0.25 11-15-25債券 | Dexcom Inc | 債券 | 0.36% | — | — | |
| 15 | IMCR 2.5 02-01-30債券 | Immunocore Holdings | 債券 | 0.36% | -0.08% | +3.77% | |
| 16 | DEC | Diversified Energy Company | 股票-其他 | 0.35% | — | -29.71% | |
| 17 | NCLH | Norwegian Cruise Line Holdings Ltd. | 股票-循環性消費 | 0.30% | — | -13.48% | |
| 18 | UGI 5 06-01-28債券 | Ugi CORP | 債券 | 0.28% | -0.02% | +27.41% | |
| 19 | SABHLD 7.32 08-01-26債券 | Sabre Glbl Inc | 債券 | 0.26% | -0.10% | -5.01% | |
| 20 | FSK | Fs Kkr Capital CORP | 股票-金融 | 0.25% | -0.01% | — | |
| 21 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | 債券 | 0.21% | -0.04% | +6.35% | |
| 22 | WEC 4.375 06-01-29債券 | Wec Energy Group Inc | 債券 | 0.16% | -0.01% | — | |
| 23 | RDFN 0.5 04-01-27債券 | Redfin CORP | 債券 | 0.16% | — | — | |
| 24 | TEM | Tempus Ai Inc-cl A | 股票-醫療保健 | 0.16% | +0.02% | — | |
| 25 | MTN 0 01-01-26債券 | Vail Resorts Inc | 債券 | 0.12% | — | +22.61% | |
| 26 | SNAP 0.125 03-01-28債券 | Snap Inc | 債券 | 0.10% | -0.01% | — | |
| 27 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | 債券 | 0.10% | -0.08% | EXIT | |
| 28 | CNP 4.25 08-15-26債券 | Centerpoint Energy Inc | 債券 | 0.09% | — | — | |
| 29 | CHRS | Coherus Oncology Inc | 股票-其他 | 0.08% | -0.02% | — | |
| 30 | HOUS 0.25 06-15-26債券 | Anywhere Re Grp/realogy | 債券 | 0.08% | — | — | |
| 31 | BL 1 06-01-29債券 | Blackline Inc | 債券 | 0.08% | — | -23.33% | |
| 32 | SNOW 0 10-01-29債券 | Snowflake Inc | 債券 | 0.07% | -0.01% | — | |
| 33 | DBX 0 03-01-28債券 | Dropbox Inc | 債券 | 0.06% | — | — | |
| 34 | NVCR 0 11-01-25債券 | Novocure LTD | 債券 | 0.06% | — | -9.87% | |
| 35 | RDFN 0 10-15-25債券 | Redfin CORP | 債券 | 0.05% | — | — | |
| 36 | CABO 1.125 03-15-28債券 | Cable One Inc | 債券 | 0.05% | — | +22.45% | |
| 37 | ITRI 1.375 07-15-30債券 | Itron Inc | 債券 | 0.05% | -0.02% | -64.64% | |
| 38 | MTH 1.75 05-15-28債券 | Meritage Homes CORP | 債券 | 0.05% | -0.03% | +58.75% | |
| 39 | ON 0.5 03-01-29債券 | On Semiconductor CORP | 債券 | 0.04% | -0.03% | -17.66% | |
| 40 | WGO 3.25 01-15-30債券 | Winnebago Industries | 債券 | 0.04% | +0.10% | -4.34% | |
| 41 | TVTX 2.25 03-01-29債券 | Travere Therapeutics Inc | 債券 | 0.04% | -0.01% | +144.79% | |
| 42 | SPOT 0 03-15-26債券 | Spotify USA Inc | 債券 | 0.04% | — | +34.02% | |
| 43 | PATK 1.75 12-01-28債券 | Patrick Industries Inc | 債券 | 0.04% | -0.01% | +109.40% | |
| 44 | MIRM 4 05-01-29債券 | Mirum Pharmaceuticals | 債券 | 0.04% | — | — | |
| 45 | PRGS 3.5 03-01-30債券 | Progress Software CORP | 債券 | 0.03% | -0.01% | +63.84% | |
| 46 | VAC 0 01-15-26債券 | Marriott Vacation Worldw | 債券 | 0.03% | — | — | |
| 47 | VRNS 1 09-15-29債券 | Varonis System Inc | 債券 | 0.03% | -0.03% | — | |
| 48 | IONS 1.75 06-15-28債券 | Ionis Pharmaceuticals In | 債券 | 0.03% | -0.02% | EXIT | |
| 49 | MKSI 1.25 06-01-30債券 | Mks Inc | 債券 | 0.03% | -0.02% | -3.79% | |
| 50 | JAZZ 3.125 09-15-30債券 | Jazz Investments I LTD | 債券 | 0.03% | -0.02% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CRGY | Crescent Energy Inc-a | +3.9% | — | 加碼 |
| 2 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | +0.6% | +123.55% | 加碼 |
| 3 | SABHLD 7.32 08-01-26債券 | Sabre Glbl Inc | +0.2% | -5.01% | 加碼 |
| 4 | BTSG | Brightspring Health Services | +0.2% | — | 減碼 |
| 5 | CABO 0 03-15-26債券 | Cable One Inc | +0.1% | +11.99% | 加碼 |
| 6 | MTN 0 01-01-26債券 | Vail Resorts Inc | +0.1% | +22.61% | 加碼 |
| 7 | SNAP 0.125 03-01-28債券 | Snap Inc | 0% | — | 加碼 |
| 8 | CHRS | Coherus Oncology Inc | 0% | — | 不變 |
| 9 | PATK 1.75 12-01-28債券 | Patrick Industries Inc | 0% | +109.40% | 加碼 |
| 10 | DBX 0 03-01-28債券 | Dropbox Inc | 0% | — | 加碼 |
| 11 | IONS 1.75 06-15-28債券 | Ionis Pharmaceuticals In | 0% | +111.54% | 加碼 |
| 12 | POST 2.5 08-15-27債券 | Post Holdings Inc | 0% | +32.13% | 加碼 |
| 13 | PSN 2.625 03-01-29債券 | Parsons CORP | 0% | +37.44% | 加碼 |
| 14 | SPOT 0 03-15-26債券 | Spotify USA Inc | 0% | +34.02% | 加碼 |
| 15 | MIRM 4 05-01-29債券 | Mirum Pharmaceuticals | 0% | — | 不變 |
| 16 | LYV 3.125 01-15-29債券 | Live Nation Entertainmen | 0% | +39.58% | 加碼 |
| 17 | ENOV 3.875 10-15-28債券 | Enovis CORP | 0% | -11.86% | 加碼 |
| 18 | PRGS 3.5 03-01-30債券 | Progress Software CORP | — | +63.84% | 加碼 |
| 19 | HALO 0.25 03-01-27債券 | Halozyme Therapeutics In | — | +46.40% | 加碼 |
| 20 | BSY 0.375 07-01-27債券 | Bentley Systems | — | +30.89% | 加碼 |
| 21 | WK 1.25 08-15-28債券 | Workiva Inc | — | +41.92% | 加碼 |
| 22 | DXCM 0.375 05-15-28債券 | Dexcom Inc | — | +34.67% | 加碼 |
| 23 | JBTM 0.25 05-15-26債券 | Jbt Marel CORP | 0% | — | 減碼 |
| 24 | VTR 3.75 06-01-26債券 | Ventas Realty LP | 0% | -30.30% | 減碼 |
| 25 | ON 0.5 03-01-29債券 | On Semiconductor CORP | 0% | -17.66% | 加碼 |
| 26 | LNTH 2.625 12-15-27債券 | Lantheus Holdings Inc | 0% | — | 不變 |
| 27 | GPN 1.5 03-01-31債券 | Global Payments Inc | 0% | +215.00% | 減碼 |
| 28 | AWK 3.625 06-15-26債券 | American Water Capital C | 0% | — | 不變 |
| 29 | BMRN 1.25 05-15-27債券 | Biomarin Pharmaceutical | 0% | -63.89% | 減碼 |
| 30 | PD 1.5 10-15-28 *債券 | Pagerduty Inc. | 0% | +31.47% | 減碼 |
| 31 | NVST 1.75 08-15-28債券 | Envista Holdings CORP | 0% | -38.46% | 減碼 |
| 32 | NVCR 0 11-01-25債券 | Novocure LTD | 0% | -9.87% | 減碼 |
| 33 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | 0% | +2.03% | 加碼 |
| 34 | WGO 3.25 01-15-30債券 | Winnebago Industries | 0% | -4.34% | 減碼 |
| 35 | NCLH | Norwegian Cruise Line Holdings Ltd. | -0.1% | -13.48% | 減碼 |
| 36 | IMCR 2.5 02-01-30債券 | Immunocore Holdings | -0.1% | +3.77% | 加碼 |
| 37 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | -0.1% | +6.35% | 減碼 |
| 38 | AKAM 1.125 02-15-29債券 | Akamai Technologies Inc | -0.1% | +30.77% | 減碼 |
| 39 | CABO 1.125 03-15-28債券 | Cable One Inc | -0.2% | +22.45% | 減碼 |
| 40 | MSGS | Madison Square Garden Sports | -0.2% | — | 不變 |
| 41 | DEC | Diversified Energy Company | -0.2% | -29.71% | 減碼 |
| 42 | BHC | Bausch Health Cos Inc | -0.2% | — | 不變 |
| 43 | FSK | Fs Kkr Capital CORP | -0.2% | — | 不變 |
| 44 | AEIS 2.5 09-15-28債券 | Advanced Energy Ind | -0.3% | — | 減碼 |
| 45 | JBLU 0.5 04-01-26債券 | Jetblue Airways CORP | -0.9% | -11.21% | 減碼 |
| 46 | KREF | Kkr Real Estate Finance Trus | -1% | — | 不變 |
| 47 | HSIC | Henry Schein Inc | -1.2% | — | 加碼 |
| 48 | HOUS 0.25 06-15-26債券 | Anywhere Re Grp/realogy | -1.9% | — | 減碼 |
| 49 | BBIO | Bridgebio Pharma Inc | -3.5% | — | 減碼 |
| 50 | BV | Brightview Holdings Inc | -4.8% | — | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Kohlberg Kravis Roberts & Co. L.P. 在 Q3 2025 季度的美股持倉總市值約為 US$57.1億，共申報了 85 個公開持股部位。
在 Q3 2025 季度，Kohlberg Kravis Roberts & Co. L.P. 按市值排列的前三大核心持股分別為：BTSG (38.2%)、HSIC (17.4%)、BBIO (11.5%)。其中最大持股部位 BTSG 佔據整體投資組合約 38.2% 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
NIQ
市值: US$4.7億
本季最大獲利了結 / 清倉標的
NCLH 1.125 02-15-27
前期市值: US$1.4億
在 Q3 2025 季度中，Kohlberg Kravis Roberts & Co. L.P. 共進行了 102 項持倉異動，包含新建倉 35 個部位、加碼 23 個部位、減碼 19 個部位以及清倉 25 個部位。 其中最大新建倉標的為 NIQ。 本季清倉部位包含 NCLH 1.125 02-15-27。
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。