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: 0001738654
申報總市值
US$16.4億
US$16.4億
46 檔
30.9%
在 Q2 2025 的 13F 官方備案中，Opti Capital Management, LP 管理的美股投資組合規模來到 US$16.4億，整體持股檔數為 46 檔。
在 Q2 2025 期間，Opti Capital Management, LP 展現了靈活的資產再平衡步調，透過出清 17 檔弱勢或達到目標價部位，將資金轉置於 10 檔新建倉標的之中。
從部位權重觀察，前 5 大標的（包含 TDOC 1.25 06-01-27, XYZ 0.25 11-01-27, IDCC 3.5 06-01-27）累計市值佔比達 30.9%，是驅動 Opti Capital Management, LP 該季度整體投資組合績效表現的核心支柱。
| # | 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 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | 債券 | 7.44% | -0.48% | +10.96% | |
| 2 | XYZ 0.25 11-01-27債券 | Block Inc | 債券 | 7.01% | -4.47% | -5.82% | |
| 3 | IDCC 3.5 06-01-27債券 | Interdigital Inc | 債券 | 5.31% | — | — | |
| 4 | SNAP 0.125 03-01-28債券 | Snap Inc | 債券 | 4.55% | -0.68% | +19.45% | |
| 5 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | 債券 | 4.45% | — | +8.13% | |
| 6 | NVCR 0 11-01-25債券 | Novocure LTD | 債券 | 4.18% | — | — | |
| 7 | HALO 0.25 03-01-27債券 | Halozyme Therapeutics In | 債券 | 4.02% | — | +18.33% | |
| 8 | NVMI 0 10-15-25債券 | Nova LTD | 債券 | 3.80% | — | — | |
| 9 | SEALTD 2.375 12-01-25債券 | Sea LTD | 債券 | 3.60% | — | — | |
| 10 | LYV 3.125 01-15-29債券 | Live Nation Entertainmen | 債券 | 3.26% | -0.07% | — | |
| 11 | RPD 0.25 03-15-27債券 | Rapid7 Inc | 債券 | 3.08% | +1.03% | +12.56% | |
| 12 | NCLH 1.125 02-15-27債券 | Ncl Corporation LTD | 債券 | 2.80% | — | — | |
| 13 | FSLY 0 03-15-26債券 | Fastly Inc | 債券 | 2.50% | — | +7.01% | |
| 14 | NICEIT 0 09-15-25債券 | Nice LTD | 債券 | 2.47% | — | — | |
| 15 | NCLH 2.5 02-15-27債券 | Ncl Corporation LTD | 債券 | 2.46% | — | — | |
| 16 | CYTK 3.5 07-01-27債券 | Cytokinetics Inc | 債券 | 2.39% | — | +77.87% | |
| 17 | CNP 4.25 08-15-26債券 | Centerpoint Energy Inc | 債券 | 2.16% | — | — | |
| 18 | SEALTD 0.25 09-15-26債券 | Sea LTD | 債券 | 2.06% | -0.03% | — | |
| 19 | ENPH 0 03-01-26債券 | Enphase Energy Inc | 債券 | 2.04% | — | +150.00% | |
| 20 | ALNY 1 09-15-27債券 | Alnylam Pharmaceuticals | 債券 | 2.00% | — | — | |
| 21 | PI 1.125 05-15-27債券 | Impinj Inc | 債券 | 1.93% | — | — | |
| 22 | EXAS 0.375 03-15-27債券 | Exact Sciences CORP | 債券 | 1.93% | — | +42.00% | |
| 23 | TRIP 0.25 04-01-26債券 | Tripadvisor Inc | 債券 | 1.64% | — | — | |
| 24 | DVAX 2.5 05-15-26債券 | Dynavax Technologies | 債券 | 1.57% | — | — | |
| 25 | CNMD 2.25 06-15-27債券 | Conmed CORP | 債券 | 1.49% | -2.05% | EXIT | |
| 26 | PAR 1.5 10-15-27債券 | Par Technology CORP | 債券 | 1.44% | — | — | |
| 27 | GH 0 11-15-27債券 | Guardant Health Inc | 債券 | 1.42% | — | +995.52% | |
| 28 | NVST 1.75 08-15-28債券 | Envista Holdings CORP | 債券 | 1.38% | — | -16.13% | |
| 29 | PRGS 1 04-15-26債券 | Progress Software CORP | 債券 | 1.36% | -1.50% | EXIT | |
| 30 | NEO 0.25 01-15-28債券 | Neogenomics Inc | 債券 | 1.32% | — | +87.28% | |
| 31 | FVRR 0 11-01-25債券 | Fiverr International LTD | 債券 | 1.25% | — | — | |
| 32 | EGHT 4 02-01-28債券 | 8x8 Inc | 債券 | 1.24% | — | -13.48% | |
| 33 | UPWK 0.25 08-15-26債券 | Upwork Inc | 債券 | 1.21% | — | — | |
| 34 | DAY 0.25 03-15-26債券 | Dayforce Inc | 債券 | 1.18% | — | +30.30% | |
| 35 | MTN 0 01-01-26債券 | Vail Resorts Inc | 債券 | 1.13% | — | — | |
| 36 | PCRX 0.75 08-01-25債券 | Pacira Biosciences Inc | 債券 | 1.06% | — | — | |
| 37 | WIX 0 08-15-25債券 | Wix LTD | 債券 | 1.00% | — | — | |
| 38 | OMCL 0.25 09-15-25債券 | Omnicell Inc | 債券 | 0.99% | — | — | |
| 39 | BAND 0.5 04-01-28債券 | Bandwidth Inc | 債券 | 0.96% | -0.52% | EXIT | |
| 40 | ALRM 0 01-15-26債券 | Alarm.com Hldgs Inc | 債券 | 0.94% | — | — | |
| 41 | LPSN 0 12-15-26債券 | Liveperson Inc | 債券 | 0.83% | — | — | |
| 42 | LCII 1.125 05-15-26債券 | Lci Industries | 債券 | 0.50% | -0.36% | EXIT | |
| 43 | MCHP 0.75 06-01-30債券 | Microchip Technology Inc | 債券 | 0.39% | -1.02% | EXIT | |
| 44 | TMDX 1.5 06-01-28債券 | Transmedics Group Inc | 債券 | 0.23% | -2.27% | — | |
| 45 | GOSS | Gossamer Bio Inc | 股票-其他 | 0.03% | — | — | |
| 46 | TPIC 5.25 03-15-28債券 | Tpi Composites Inc | 債券 | 0.02% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | SEALTD 2.375 12-01-25債券 | Sea LTD | +3.6% | NEW | 新建倉 |
| 2 | LYV 3.125 01-15-29債券 | Live Nation Entertainmen | +3.3% | NEW | 新建倉 |
| 3 | NCLH 1.125 02-15-27債券 | Ncl Corporation LTD | +2.8% | NEW | 新建倉 |
| 4 | NCLH 2.5 02-15-27債券 | Ncl Corporation LTD | +2.5% | NEW | 新建倉 |
| 5 | CNP 4.25 08-15-26債券 | Centerpoint Energy Inc | +2.2% | NEW | 新建倉 |
| 6 | SEALTD 0.25 09-15-26債券 | Sea LTD | +2.1% | NEW | 新建倉 |
| 7 | ALNY 1 09-15-27債券 | Alnylam Pharmaceuticals | +2% | NEW | 新建倉 |
| 8 | PAR 1.5 10-15-27債券 | Par Technology CORP | +1.4% | NEW | 新建倉 |
| 9 | GH 0 11-15-27債券 | Guardant Health Inc | +1.3% | +995.52% | 加碼 |
| 10 | ENPH 0 03-01-26債券 | Enphase Energy Inc | +1.2% | +150.00% | 加碼 |
| 11 | NVMI 0 10-15-25債券 | Nova LTD | +1.1% | — | 不變 |
| 12 | CYTK 3.5 07-01-27債券 | Cytokinetics Inc | +0.8% | +77.87% | 加碼 |
| 13 | NEO 0.25 01-15-28債券 | Neogenomics Inc | +0.6% | +87.28% | 加碼 |
| 14 | SNAP 0.125 03-01-28債券 | Snap Inc | +0.5% | +19.45% | 加碼 |
| 15 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | +0.5% | +8.13% | 加碼 |
| 16 | EXAS 0.375 03-15-27債券 | Exact Sciences CORP | +0.5% | +42.00% | 加碼 |
| 17 | MCHP 0.75 06-01-30債券 | Microchip Technology Inc | +0.4% | NEW | 新建倉 |
| 18 | BAND 0.5 04-01-28債券 | Bandwidth Inc | +0.4% | +73.91% | 加碼 |
| 19 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | +0.3% | +10.96% | 加碼 |
| 20 | TMDX 1.5 06-01-28債券 | Transmedics Group Inc | +0.2% | NEW | 新建倉 |
| 21 | DAY 0.25 03-15-26債券 | Dayforce Inc | +0.2% | +30.30% | 加碼 |
| 22 | RPD 0.25 03-15-27債券 | Rapid7 Inc | +0.2% | +12.56% | 加碼 |
| 23 | HALO 0.25 03-01-27債券 | Halozyme Therapeutics In | +0.1% | +18.33% | 加碼 |
| 24 | IDCC 3.5 06-01-27債券 | Interdigital Inc | 0% | — | 不變 |
| 25 | PI 1.125 05-15-27債券 | Impinj Inc | 0% | — | 不變 |
| 26 | FSLY 0 03-15-26債券 | Fastly Inc | 0% | +7.01% | 加碼 |
| 27 | GOSS | Gossamer Bio Inc | — | — | 不變 |
| 28 | TPIC 5.25 03-15-28債券 | Tpi Composites Inc | 0% | — | 不變 |
| 29 | LCII 1.125 05-15-26債券 | Lci Industries | 0% | — | 不變 |
| 30 | WIX 0 08-15-25債券 | Wix LTD | -0.1% | — | 不變 |
| 31 | ALRM 0 01-15-26債券 | Alarm.com Hldgs Inc | -0.1% | — | 不變 |
| 32 | OMCL 0.25 09-15-25債券 | Omnicell Inc | -0.1% | — | 不變 |
| 33 | PCRX 0.75 08-01-25債券 | Pacira Biosciences Inc | -0.1% | — | 不變 |
| 34 | MTN 0 01-01-26債券 | Vail Resorts Inc | -0.1% | — | 不變 |
| 35 | UPWK 0.25 08-15-26債券 | Upwork Inc | -0.1% | — | 不變 |
| 36 | FVRR 0 11-01-25債券 | Fiverr International LTD | -0.1% | — | 不變 |
| 37 | TRIP 0.25 04-01-26債券 | Tripadvisor Inc | -0.1% | — | 不變 |
| 38 | LPSN 0 12-15-26債券 | Liveperson Inc | -0.1% | — | 不變 |
| 39 | ETSY 0.125 09-01-27債券 | Etsy Inc | -0.1% | EXIT | 清倉 |
| 40 | NICEIT 0 09-15-25債券 | Nice LTD | -0.2% | — | 不變 |
| 41 | FIVN 1 03-15-29債券 | Five9 Inc | -0.2% | EXIT | 清倉 |
| 42 | ITGR | Integer Holdings CORP | -0.2% | EXIT | 清倉 |
| 43 | NVCR 0 11-01-25債券 | Novocure LTD | -0.3% | — | 不變 |
| 44 | CRNC 1.5 07-01-28債券 | Cerence Inc | -0.3% | EXIT | 清倉 |
| 45 | VECO 3.75 06-01-27債券 | Veeco Instruments Inc | -0.3% | EXIT | 清倉 |
| 46 | EGHT 4 02-01-28債券 | 8x8 Inc | -0.3% | -13.48% | 減碼 |
| 47 | NVST 1.75 08-15-28債券 | Envista Holdings CORP | -0.3% | -16.13% | 減碼 |
| 48 | DVAX 2.5 05-15-26債券 | Dynavax Technologies | -0.5% | — | 不變 |
| 49 | TDOC 0.875 06-01-25債券 | Livongo Health | -0.6% | EXIT | 清倉 |
| 50 | PRGS 1 04-15-26債券 | Progress Software CORP | -0.6% | -33.61% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Opti Capital Management, LP 在 Q2 2025 季度的美股持倉總市值約為 US$16.4億，共申報了 46 個公開持股部位。
在 Q2 2025 季度，Opti Capital Management, LP 按市值排列的前三大核心持股分別為：TDOC 1.25 06-01-27 (7.4%)、XYZ 0.25 11-01-27 (7.0%)、IDCC 3.5 06-01-27 (5.3%)。其中最大持股部位 TDOC 1.25 06-01-27 佔據整體投資組合約 7.4% 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
SEALTD 2.375 12-01-25
市值: US$6343.9萬
本季最大獲利了結 / 清倉標的
FIVN 0.5 06-01-25
前期市值: US$6163.5萬
在 Q2 2025 季度中，Opti Capital Management, LP 共進行了 45 項持倉異動，包含新建倉 10 個部位、加碼 13 個部位、減碼 5 個部位以及清倉 17 個部位。 其中最大新建倉標的為 SEALTD 2.375 12-01-25。 本季清倉部位包含 FIVN 0.5 06-01-25。
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。