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: 0001390202
申報總市值
US$39.0億
US$39.0億
147 檔
51.1%
截至 Q3 2025 季度末，Laurion Capital Management LP 的美股持倉估值約為 US$39.0億，全數申報部位共有 147 檔。
Q3 2025 的申報記錄反映 Laurion Capital Management LP 的板塊替換策略：機構本季推動了 89 筆增持與 106 筆減持，籌碼呈現明顯的結構重組。
整體而言，Laurion Capital Management LP 的前 5 大持股（包含 HYG, IWM, AAPL）貢獻了組合市值的 51.1%，形成該機構在 Q3 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 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投資等級債 | 12.91% | -0.43% | EXIT | |
| 2 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 8.73% | — | +180.00% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 4.30% | -1.69% | EXIT | |
| 4 | ABBV | Abbvie Inc | 股票-醫療保健 | 4.20% | +0.19% | +54.94% | |
| 5 | BLK | Blackrock Inc | 股票-金融 | 4.09% | — | +1260.10% | |
| 6 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 3.82% | -1.42% | -6.21% | |
| 7 | GS | Goldman Sachs Group Inc | 股票-金融 | 3.57% | +0.48% | +30.64% | |
| 8 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 3.48% | -1.43% | +53.57% | |
| 9 | TXN | Texas Instruments Inc | 股票-科技 | 3.08% | +0.14% | NEW | |
| 10 | JPM | Jpmorgan Chase & Co | 股票-金融 | 2.98% | -3.62% | +2.09% | |
| 11 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.89% | -0.23% | -20.91% | |
| 12 | MSTR | Strategy Inc | 股票-科技 | 2.78% | — | +20853.18% | |
| 13 | IBM | Intl Business Machines CORP | 股票-科技 | 2.75% | +0.54% | — | |
| 14 | NVDA | Nvidia CORP | 股票-科技 | 2.59% | -2.12% | EXIT | |
| 15 | HON | Honeywell International Inc | 股票-工業 | 2.02% | — | +369.30% | |
| 16 | MRVL | Marvell Technology Inc | 股票-科技 | 1.83% | +0.73% | +80.81% | |
| 17 | APP | Applovin Corp-class A | 股票-科技 | 1.62% | +1.66% | NEW | |
| 18 | BBIO | Bridgebio Pharma Inc | 股票-醫療保健 | 1.57% | -1.51% | -27.28% | |
| 19 | NSC | Norfolk Southern CORP | 股票-工業 | 1.56% | -1.30% | +101.13% | |
| 20 | BA | Boeing Co/the | 股票-工業 | 1.52% | -0.36% | EXIT | |
| 21 | BAC | Bank Of America CORP | 股票-金融 | 1.38% | — | -10.17% | |
| 22 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 1.30% | +0.15% | +454.82% | |
| 23 | MS | Morgan Stanley | 股票-金融 | 1.16% | — | -50.37% | |
| 24 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.14% | +0.03% | NEW | |
| 25 | MLYS | Mineralys Therapeutics Inc | 股票-其他 | 1.12% | -0.91% | -2.39% | |
| 26 | MA | Mastercard Inc - A | 股票-金融 | 1.06% | +0.01% | NEW | |
| 27 | C | Citigroup Inc | 股票-金融 | 1.01% | -0.98% | +83.85% | |
| 28 | CVNA | Carvana Co | 股票-循環性消費 | 0.99% | +2.27% | NEW | |
| 29 | COIN | Coinbase Global Inc -class A | 股票-金融 | 0.93% | +0.86% | +3160.07% | |
| 30 | SPOT | Spotify Technology S.A. | 股票-通訊服務 | 0.86% | +0.21% | +9.68% | |
| 31 | SHOP | Shopify Inc - Class A | 股票-科技 | 0.77% | -0.36% | +193.06% | |
| 32 | FSLR | First Solar Inc | 股票-科技 | 0.75% | — | +2103.58% | |
| 33 | BX | Blackstone Inc | 股票-金融 | 0.67% | -0.25% | +254.21% | |
| 34 | NUVB | Nuvation Bio Inc | 股票-其他 | 0.62% | -0.32% | -5.23% | |
| 35 | WFC | Wells Fargo & Co | 股票-金融 | 0.61% | -0.59% | +21.07% | |
| 36 | EA | Electronic Arts Inc | 股票-通訊服務 | 0.61% | -3.86% | — | |
| 37 | FICO | Fair Isaac CORP | 股票-科技 | 0.55% | — | — | |
| 38 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 0.54% | +0.38% | NEW | |
| 39 | KKR | Kkr & Co Inc | 股票-金融 | 0.49% | -0.56% | EXIT | |
| 40 | RDDT | Reddit Inc-cl A | 股票-通訊服務 | 0.44% | +0.21% | +1559.68% | |
| 41 | QCOM | Qualcomm Inc | 股票-科技 | 0.41% | +2.27% | NEW | |
| 42 | RCL | Royal Caribbean Cruises Ltd. | 股票-循環性消費 | 0.36% | -0.55% | +43.00% | |
| 43 | ADI | Analog Devices Inc | 股票-科技 | 0.35% | -0.16% | +51.01% | |
| 44 | DE | Deere & Co | 股票-工業 | 0.34% | +0.07% | NEW | |
| 45 | BBIO 2.25 02-01-29債券 | Bridgebio Pharma Inc | 債券 | 0.32% | -0.40% | — | |
| 46 | SMCI | Super Micro Computer Inc | 股票-科技 | 0.32% | — | — | |
| 47 | NIO 3.875 10-15-29債券 | Nio Inc | 債券 | 0.32% | -0.33% | — | |
| 48 | SNPS | Synopsys Inc | 股票-科技 | 0.31% | -0.26% | — | |
| 49 | GEV | GE Vernova Inc | 股票-工業 | 0.29% | -1.65% | -57.55% | |
| 50 | SPGI | S&p Global Inc | 股票-金融 | 0.29% | +0.09% | NEW |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | +5.4% | +82.10% | 加碼 |
| 2 | BLK | Blackrock Inc | +3.6% | +1260.10% | 加碼 |
| 3 | GOOG | Alphabet Inc-cl C | +2.8% | +53.57% | 加碼 |
| 4 | GOOGL | Alphabet Inc-cl A | +2.4% | -6.21% | 加碼 |
| 5 | TXN | Texas Instruments Inc | +2.2% | +270.63% | 加碼 |
| 6 | AAPL | Apple Inc | +1.9% | +34.48% | 加碼 |
| 7 | GS | Goldman Sachs Group Inc | +1.8% | +30.64% | 加碼 |
| 8 | BAC | Bank Of America CORP | +1.2% | -10.17% | 加碼 |
| 9 | MA | Mastercard Inc - A | +0.9% | -47.36% | 加碼 |
| 10 | AMZN | Amazon.com Inc | +0.9% | -69.08% | 加碼 |
| 11 | COIN | Coinbase Global Inc -class A | +0.9% | +3160.07% | 加碼 |
| 12 | C | Citigroup Inc | +0.8% | +83.85% | 加碼 |
| 13 | SHOP | Shopify Inc - Class A | +0.7% | +193.06% | 加碼 |
| 14 | SPOT | Spotify Technology S.A. | +0.6% | +9.68% | 加碼 |
| 15 | EA | Electronic Arts Inc | +0.6% | — | 加碼 |
| 16 | BA | Boeing Co/the | +0.6% | +15.88% | 加碼 |
| 17 | FICO | Fair Isaac CORP | +0.5% | — | 加碼 |
| 18 | RDDT | Reddit Inc-cl A | +0.4% | +1559.68% | 加碼 |
| 19 | MLYS | Mineralys Therapeutics Inc | +0.4% | -2.39% | 減碼 |
| 20 | MS | Morgan Stanley | +0.3% | -50.37% | 加碼 |
| 21 | RCL | Royal Caribbean Cruises Ltd. | +0.3% | +43.00% | 加碼 |
| 22 | BX | Blackstone Inc | +0.2% | +254.21% | 加碼 |
| 23 | NUVB | Nuvation Bio Inc | +0.2% | -5.23% | 減碼 |
| 24 | CHTR | Charter Communications Inc-a | +0.2% | — | 加碼 |
| 25 | PEPG | Pepgen Inc | +0.1% | +133.38% | 加碼 |
| 26 | AARD | Aardvark Therapeutics Inc | +0.1% | +6.13% | 加碼 |
| 27 | DAL | Delta Air Lines Inc | +0.1% | — | 加碼 |
| 28 | CRH | CRH plc | +0.1% | +21.03% | 加碼 |
| 29 | PYXS | Pyxis Oncology Inc | +0.1% | — | 不變 |
| 30 | JEF | Jefferies Financial Group In | 0% | +65.04% | 加碼 |
| 31 | CRDF | Cardiff Oncology Inc | 0% | +37.20% | 加碼 |
| 32 | VTLUSD | Immunic Inc | 0% | -1.20% | 加碼 |
| 33 | NIO 4.625 10-15-30債券 | Nio Inc | 0% | — | 不變 |
| 34 | FERG | Ferguson Enterprises Inc | 0% | -5.22% | 加碼 |
| 35 | TTWO | Take-two Interactive Softwre | 0% | +455.56% | 加碼 |
| 36 | ABOS | Acumen Pharmaceuticals Inc | 0% | — | 不變 |
| 37 | NFLX | Netflix Inc | — | -70.69% | 加碼 |
| 38 | APO | Apollo Global Management Inc | — | -72.48% | 加碼 |
| 39 | VEEV | Veeva Systems Inc-class A | — | -34.07% | 減碼 |
| 40 | NIO 3.875 10-15-29債券 | Nio Inc | 0% | — | 不變 |
| 41 | CRC | California Resources CORP | 0% | -17.24% | 減碼 |
| 42 | ARES | Ares Management CORP - A | 0% | -22.92% | 減碼 |
| 43 | MRK | Merck & Co. Inc. | -0.1% | -56.14% | 減碼 |
| 44 | FLUT | Flutter Entertainment plc | -0.1% | — | 減碼 |
| 45 | LNG | Cheniere Energy Inc | -0.1% | -4.93% | 加碼 |
| 46 | CME | Cme Group Inc | -0.1% | -2.57% | 加碼 |
| 47 | BBIO 2.25 02-01-29債券 | Bridgebio Pharma Inc | -0.1% | — | 不變 |
| 48 | LPLA | Lpl Financial Holdings Inc | -0.1% | +5.33% | 減碼 |
| 49 | CCL1EUR | Carnival CORP LTD | -0.2% | — | 減碼 |
| 50 | MDB | Mongodb Inc | -0.2% | +4151.76% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Laurion Capital Management LP 在 Q3 2025 季度的美股持倉總市值約為 US$39.0億，共申報了 147 個公開持股部位。
在 Q3 2025 季度，Laurion Capital Management LP 按市值排列的前三大核心持股分別為：HYG (12.9%)、IWM (8.7%)、AAPL (4.3%)。其中最大持股部位 HYG 佔據整體投資組合約 12.9% 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
ABBV
市值: US$2.4億
本季最大獲利了結 / 清倉標的
HES
前期市值: US$1.8億
在 Q3 2025 季度中，Laurion Capital Management LP 共進行了 195 項持倉異動，包含新建倉 53 個部位、加碼 36 個部位、減碼 23 個部位以及清倉 83 個部位。 其中最大新建倉標的為 ABBV。 本季清倉部位包含 HES。
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。