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。
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CIK: 0001534259
申報總市值
US$14.7億
US$14.7億
38 檔
59.3%
Q3 2025 季度申報顯示，Partners Group Holding AG 揭露的美股組合總市值為 US$14.7億，涵蓋 38 個不同之權益投資部位。
在 Q3 2025，Partners Group Holding AG 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 6 檔持股，調降曝險的部位數量高於加碼動作。
檢視投資組合結構，前 5 大主力部位（包含 KLC, CLARIVATE PLC, APO）占據了總市值的 59.3%，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 | KLC | Kindercare Learning Cos Inc | 股票-其他 | 30.02% | +10.33% | — | |
| 2 | ✓ | Clarivate PLC | 股票-其他 | 5.44% | — | — | |
| 3 | APO | Apollo Global Management Inc | 股票-金融 | 4.88% | -0.97% | +4.90% | |
| 4 | NU | Nu Holdings Ltd. | 股票-金融 | 4.26% | -0.51% | +3009.10% | |
| 5 | BN | Brookfield CORP | 股票-金融 | 3.69% | -0.41% | +47.82% | |
| 6 | AMT | American Tower CORP | 股票-房地產 | 3.34% | -0.61% | -5.48% | |
| 7 | ARES | Ares Management CORP - A | 股票-金融 | 3.21% | -0.10% | +2.32% | |
| 8 | KKR | Kkr & Co Inc | 股票-金融 | 3.10% | -0.34% | -5.10% | |
| 9 | BX | Blackstone Inc | 股票-金融 | 2.99% | -0.28% | -11.55% | |
| 10 | AWK | American Water Works Co Inc | 股票-公用事業 | 2.79% | -0.39% | -13.70% | |
| 11 | ATO | Atmos Energy CORP | 股票-公用事業 | 2.58% | -0.55% | -15.92% | |
| 12 | RSG | Republic Services Inc | 股票-工業 | 2.48% | -0.42% | -7.64% | |
| 13 | UNP | Union Pacific CORP | 股票-工業 | 2.45% | -0.13% | -12.82% | |
| 14 | WMB | Williams Cos Inc | 股票-能源 | 2.30% | -0.61% | -14.32% | |
| 15 | CMS | Cms Energy CORP | 股票-公用事業 | 2.17% | -0.34% | -12.63% | |
| 16 | ARCC | Ares Capital CORP | 股票-金融 | 2.00% | — | +4.80% | |
| 17 | EQIX | Equinix Inc | 股票-房地產 | 1.96% | -0.06% | -2.43% | |
| 18 | CSX | Csx CORP | 股票-工業 | 1.88% | -0.46% | +19.20% | |
| 19 | SRE | Sempra | 股票-公用事業 | 1.88% | -0.42% | -19.08% | |
| 20 | WM | Waste Management Inc | 股票-工業 | 1.85% | -0.39% | -8.11% | |
| 21 | OWL | Blue Owl Capital Inc | 股票-金融 | 1.82% | -0.31% | +8.34% | |
| 22 | CNI | Canadian Natl Railway Co | 股票-工業 | 1.60% | — | -26.62% | |
| 23 | ✓ | Ferrovial Se | 股票-其他 | 1.58% | +0.54% | -24.17% | |
| 24 | TPG | Tpg Inc | 股票-金融 | 1.53% | -0.16% | -6.14% | |
| 25 | CCI | Crown Castle Inc | 股票-房地產 | 1.35% | — | -9.74% | |
| 26 | SBAC | Sba Communications CORP | 股票-房地產 | 1.34% | -0.23% | -8.43% | |
| 27 | TRP | Tc Energy CORP | 股票-能源 | 1.28% | -1.83% | -18.17% | |
| 28 | ODFL | Old Dominion Freight Line | 股票-工業 | 1.11% | -0.44% | -11.54% | |
| 29 | ENB | Enbridge Inc | 股票-能源 | 0.80% | -1.02% | -6.96% | |
| 30 | ARCB | Arcbest CORP | 股票-其他 | 0.57% | -0.12% | — | |
| 31 | ADT | Adt Inc | 股票-工業 | 0.54% | -0.05% | -55.39% | |
| 32 | LTH | Life Time Group Holdings Inc | 股票-其他 | 0.43% | +0.08% | — | |
| 33 | XPO | Xpo Inc | 股票-工業 | 0.33% | -0.03% | -19.19% | |
| 34 | KMI | Kinder Morgan, Inc. | 股票-能源 | 0.32% | -0.16% | +1.16% | |
| 35 | EPD | Enterprise Products Partners | 股票-能源 | 0.03% | — | — | |
| 36 | ✓ | Neuehealth Inc | 股票-其他 | 0.03% | — | — | |
| 37 | ET | Energy Transfer LP | 股票-能源 | 0.02% | — | — | |
| 38 | PBA | Pembina Pipeline CORP | 股票-能源 | 0.02% | -0.03% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | BN | Brookfield CORP | +2.2% | +47.82% | 加碼 |
| 2 | NU | Nu Holdings Ltd. | +2.2% | +3009.10% | 不變 |
| 3 | APO | Apollo Global Management Inc | +1.4% | +4.90% | 加碼 |
| 4 | ✓ | Clarivate PLC | +1.2% | — | 不變 |
| 5 | OWL | Blue Owl Capital Inc | +1.1% | +8.34% | 加碼 |
| 6 | BX | Blackstone Inc | +0.9% | -11.55% | 減碼 |
| 7 | ARES | Ares Management CORP - A | +0.8% | +2.32% | 減碼 |
| 8 | KKR | Kkr & Co Inc | +0.7% | -5.10% | 減碼 |
| 9 | TPG | Tpg Inc | +0.5% | -6.14% | 減碼 |
| 10 | ARCC | Ares Capital CORP | +0.5% | +4.80% | 加碼 |
| 11 | CSX | Csx CORP | +0.4% | +19.20% | 減碼 |
| 12 | WMB | Williams Cos Inc | +0.3% | -14.32% | 減碼 |
| 13 | ENB | Enbridge Inc | +0.3% | -6.96% | 減碼 |
| 14 | SRE | Sempra | +0.2% | -19.08% | 減碼 |
| 15 | ARCB | Arcbest CORP | +0.2% | — | 加碼 |
| 16 | ODFL | Old Dominion Freight Line | +0.2% | -11.54% | 加碼 |
| 17 | ATO | Atmos Energy CORP | +0.2% | -15.92% | 減碼 |
| 18 | EQIX | Equinix Inc | +0.2% | -2.43% | 減碼 |
| 19 | LTH | Life Time Group Holdings Inc | +0.1% | — | 不變 |
| 20 | KMI | Kinder Morgan, Inc. | +0.1% | +1.16% | 加碼 |
| 21 | ✓ | Ferrovial Se | +0.1% | -24.17% | 減碼 |
| 22 | WM | Waste Management Inc | 0% | -8.11% | 減碼 |
| 23 | CMS | Cms Energy CORP | 0% | -12.63% | 減碼 |
| 24 | EPD | Enterprise Products Partners | 0% | — | 加碼 |
| 25 | CCI | Crown Castle Inc | — | -9.74% | 減碼 |
| 26 | ET | Energy Transfer LP | — | — | 加碼 |
| 27 | ✓ | Neuehealth Inc | — | — | 不變 |
| 28 | PBA | Pembina Pipeline CORP | — | — | 不變 |
| 29 | UNP | Union Pacific CORP | 0% | -12.82% | 減碼 |
| 30 | RSG | Republic Services Inc | 0% | -7.64% | 減碼 |
| 31 | AMT | American Tower CORP | -0.1% | -5.48% | 減碼 |
| 32 | AWK | American Water Works Co Inc | -0.1% | -13.70% | 減碼 |
| 33 | SBAC | Sba Communications CORP | -0.2% | -8.43% | 減碼 |
| 34 | TRP | Tc Energy CORP | -0.2% | -18.17% | 減碼 |
| 35 | CNI | Canadian Natl Railway Co | -0.4% | -26.62% | 減碼 |
| 36 | ADT | Adt Inc | -0.8% | -55.39% | 減碼 |
| 37 | KLC | Kindercare Learning Cos Inc | -9.5% | — | 不變 |
| 38 | GBDC | Golub Capital Bdc Inc | — | EXIT | 清倉 |
| 39 | ✓ | Global Blue Group Holding AG | — | EXIT | 清倉 |
| 40 | CG | Carlyle Group Inc/the | — | EXIT | 清倉 |
| 41 | OBDC | Blue Owl Capital CORP | — | EXIT | 清倉 |
| 42 | XPO | Xpo Inc | — | NEW | 新建倉 |
| 43 | TEM | Tempus Ai Inc-cl A | — | EXIT | 清倉 |
| 44 | FTS | Fortis Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Partners Group Holding AG 在 Q3 2025 季度的美股持倉總市值約為 US$14.7億，共申報了 38 個公開持股部位。
在 Q3 2025 季度，Partners Group Holding AG 按市值排列的前三大核心持股分別為：KLC (30.0%)、CLARIVATE PLC (5.4%)、APO (4.9%)。其中最大持股部位 KLC 佔據整體投資組合約 30.0% 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
XPO
市值: US$601.3萬
本季最大獲利了結 / 清倉標的
GBDC
前期市值: US$3029.4萬
在 Q3 2025 季度中，Partners Group Holding AG 共進行了 38 項持倉異動，包含新建倉 1 個部位、加碼 9 個部位、減碼 22 個部位以及清倉 6 個部位。 其中最大新建倉標的為 XPO。 本季清倉部位包含 GBDC。
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。