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: 0001509842
申報總市值
US$78.2億
US$78.2億
48 檔
38.5%
截至 Q2 2025 季度末，PointState Capital LP 的美股持倉估值約為 US$78.2億，全數申報部位共有 48 檔。
Q2 2025 的申報記錄反映 PointState Capital LP 的板塊替換策略：機構本季推動了 28 筆增持與 27 筆減持，籌碼呈現明顯的結構重組。
整體而言，PointState Capital LP 的前 5 大持股（包含 SPY, GLW, ILMN）貢獻了組合市值的 38.5%，形成該機構在 Q2 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 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 18.84% | -42.00% | EXIT | |
| 2 | GLW | Corning Inc | 股票-科技 | 8.30% | — | +6.22% | |
| 3 | ILMN | Illumina Inc | 股票-醫療保健 | 6.67% | +1.71% | +65.71% | |
| 4 | TEVA | Teva Pharmaceutical-sp Adr | 股票-醫療保健 | 6.23% | -0.75% | EXIT | |
| 5 | PCG | P G & E CORP | 股票-公用事業 | 5.88% | +6.35% | +101.16% | |
| 6 | LITE | Lumentum Holdings Inc | 股票-科技 | 3.67% | — | -26.05% | |
| 7 | COF | Capital One Financial CORP | 股票-金融 | 3.36% | +0.61% | -11.25% | |
| 8 | SCHW | Schwab (charles) CORP | 股票-金融 | 3.35% | — | -21.32% | |
| 9 | FLUT | Flutter Entertainment plc | 股票-循環性消費 | 3.30% | -0.71% | +38.88% | |
| 10 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.94% | +4.34% | NEW | |
| 11 | NVT | nVent Electric plc | 股票-工業 | 2.78% | -3.29% | EXIT | |
| 12 | BAC | Bank Of America CORP | 股票-金融 | 2.20% | — | +20.74% | |
| 13 | CX | Cemex Sab-spons Adr Part Cer | 股票-其他 | 2.11% | +0.21% | — | |
| 14 | EWY | Ishares Msci South Korea ETF | ETF-其他 | 2.04% | -2.68% | EXIT | |
| 15 | XYZ | Block Inc | 股票-金融 | 1.94% | -0.02% | — | |
| 16 | CPNG | Coupang Inc | 股票-循環性消費 | 1.93% | +0.74% | -56.99% | |
| 17 | CRH | CRH plc | 股票-原物料 | 1.82% | — | -45.60% | |
| 18 | GLNG | Golar LNG Limited | 股票-能源 | 1.76% | -1.61% | EXIT | |
| 19 | ARMK | Aramark | 股票-工業 | 1.73% | -0.60% | -8.16% | |
| 20 | CCC | Ccc Intelligent Solutions Ho | 股票-科技 | 1.45% | — | — | |
| 21 | GGAL | Grupo Financiero Galicia-adr | 股票-其他 | 1.23% | +0.12% | +6.30% | |
| 22 | GRAB | Grab Holdings Limited | 股票-科技 | 1.18% | +2.13% | -56.31% | |
| 23 | EXE | Expand Energy CORP | 股票-能源 | 1.10% | — | — | |
| 24 | TLN | Talen Energy CORP | 股票-公用事業 | 1.10% | — | -34.03% | |
| 25 | OKTA | Okta Inc | 股票-科技 | 1.10% | — | -3.01% | |
| 26 | CAI | Caris Life Sciences Inc | 股票-其他 | 1.02% | -0.11% | — | |
| 27 | COHR | Coherent CORP | 股票-科技 | 0.94% | — | +6.57% | |
| 28 | BBAR | Bbva Argentina Sa-adr | 股票-其他 | 0.93% | +0.15% | +10.31% | |
| 29 | ✓ | Cyberark Software LTD. Cmn | 股票-其他 | 0.88% | — | +388.60% | |
| 30 | EXPE | Expedia Group Inc | 股票-循環性消費 | 0.80% | — | -60.46% | |
| 31 | WCC | Wesco International Inc | 股票-工業 | 0.79% | -1.02% | EXIT | |
| 32 | RKT | Rocket Cos Inc-class A | 股票-金融 | 0.76% | -0.51% | EXIT | |
| 33 | PCG 4.25 12-01-27債券 | Pg&e CORP | 債券 | 0.76% | — | — | |
| 34 | CRS | Carpenter Technology | 股票-工業 | 0.61% | -0.06% | EXIT | |
| 35 | SUPV | Grupo Supervielle Sa-sp Adr | 股票-其他 | 0.57% | -0.15% | EXIT | |
| 36 | DDOG | Datadog Inc - Class A | 股票-科技 | 0.49% | — | — | |
| 37 | BMA | Banco Macro Sa-adr | 股票-其他 | 0.47% | +0.21% | +73.19% | |
| 38 | AMRZ | Amrize Ltd | 股票-原物料 | 0.44% | — | — | |
| 39 | ROIV | Roivant Sciences Ltd. | 股票-醫療保健 | 0.42% | — | -10.63% | |
| 40 | EQT | Eqt CORP | 股票-能源 | 0.40% | — | — | |
| 41 | FRPT | Freshpet Inc | 股票-非循環性消費 | 0.37% | — | — | |
| 42 | NTRA | Natera Inc | 股票-醫療保健 | 0.36% | -0.97% | -81.42% | |
| 43 | NVDA | Nvidia CORP | 股票-科技 | 0.31% | — | -85.86% | |
| 44 | VST | Vistra CORP | 股票-公用事業 | 0.19% | — | -84.86% | |
| 45 | DHT | DHT Holdings, Inc. | 股票-其他 | 0.15% | — | — | |
| 46 | ALVO | Alvotech | 股票-其他 | 0.15% | — | -10.67% | |
| 47 | RBLX | Roblox CORP -class A | 股票-通訊服務 | 0.11% | — | — | |
| 48 | SRE | Sempra | 股票-公用事業 | 0.09% | — | -96.48% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ILMN | Illumina Inc | +3.5% | +65.71% | 加碼 |
| 2 | PCG | P G & E CORP | +2.5% | +101.16% | 加碼 |
| 3 | CX | Cemex Sab-spons Adr Part Cer | +2.1% | NEW | 新建倉 |
| 4 | EWY | Ishares Msci South Korea ETF | +2% | NEW | 新建倉 |
| 5 | TEVA | Teva Pharmaceutical-sp Adr | +2% | +29.68% | 加碼 |
| 6 | XYZ | Block Inc | +1.9% | NEW | 新建倉 |
| 7 | AMZN | Amazon.com Inc | +1.9% | +138.08% | 加碼 |
| 8 | GLW | Corning Inc | +1.8% | +6.22% | 加碼 |
| 9 | FLUT | Flutter Entertainment plc | +1.6% | +38.88% | 加碼 |
| 10 | CCC | Ccc Intelligent Solutions Ho | +1.5% | NEW | 新建倉 |
| 11 | EXE | Expand Energy CORP | +1.1% | NEW | 新建倉 |
| 12 | CAI | Caris Life Sciences Inc | +1% | NEW | 新建倉 |
| 13 | RKT | Rocket Cos Inc-class A | +0.8% | NEW | 新建倉 |
| 14 | ✓ | Cyberark Software LTD. Cmn | +0.7% | +388.60% | 加碼 |
| 15 | GLNG | Golar LNG Limited | +0.7% | +51.15% | 加碼 |
| 16 | BAC | Bank Of America CORP | +0.7% | +20.74% | 加碼 |
| 17 | CRS | Carpenter Technology | +0.6% | NEW | 新建倉 |
| 18 | LITE | Lumentum Holdings Inc | +0.6% | -26.05% | 減碼 |
| 19 | DDOG | Datadog Inc - Class A | +0.5% | NEW | 新建倉 |
| 20 | AMRZ | Amrize Ltd | +0.4% | NEW | 新建倉 |
| 21 | EQT | Eqt CORP | +0.4% | NEW | 新建倉 |
| 22 | FRPT | Freshpet Inc | +0.4% | NEW | 新建倉 |
| 23 | COHR | Coherent CORP | +0.3% | +6.57% | 加碼 |
| 24 | COF | Capital One Financial CORP | +0.3% | -11.25% | 減碼 |
| 25 | ARMK | Aramark | +0.3% | -8.16% | 減碼 |
| 26 | BMA | Banco Macro Sa-adr | +0.2% | +73.19% | 加碼 |
| 27 | DHT | DHT Holdings, Inc. | +0.2% | NEW | 新建倉 |
| 28 | RBLX | Roblox CORP -class A | +0.1% | NEW | 新建倉 |
| 29 | SUPV | Grupo Supervielle Sa-sp Adr | +0.1% | +43.55% | 加碼 |
| 30 | BBAR | Bbva Argentina Sa-adr | +0.1% | +10.31% | 加碼 |
| 31 | GGAL | Grupo Financiero Galicia-adr | 0% | +6.30% | 加碼 |
| 32 | ROIV | Roivant Sciences Ltd. | 0% | -10.63% | 減碼 |
| 33 | TLN | Talen Energy CORP | 0% | -34.03% | 減碼 |
| 34 | PCG 4.25 12-01-27債券 | Pg&e CORP | 0% | — | 不變 |
| 35 | ALVO | Alvotech | 0% | -10.67% | 減碼 |
| 36 | OKTA | Okta Inc | 0% | -3.01% | 減碼 |
| 37 | SCHW | Schwab (charles) CORP | -0.1% | -21.32% | 減碼 |
| 38 | NVT | nVent Electric plc | -0.3% | -38.21% | 減碼 |
| 39 | WFC | Wells Fargo & Co | -0.3% | EXIT | 清倉 |
| 40 | VST | Vistra CORP | -0.5% | -84.86% | 減碼 |
| 41 | EXPE | Expedia Group Inc | -1.1% | -60.46% | 減碼 |
| 42 | GRAB | Grab Holdings Limited | -1.1% | -56.31% | 減碼 |
| 43 | NVDA | Nvidia CORP | -1.1% | -85.86% | 減碼 |
| 44 | RBRK | Rubrik Inc-a | -1.2% | EXIT | 清倉 |
| 45 | NTRA | Natera Inc | -1.2% | -81.42% | 減碼 |
| 46 | CPNG | Coupang Inc | -1.2% | -56.99% | 減碼 |
| 47 | APO | Apollo Global Management Inc | -1.2% | EXIT | 清倉 |
| 48 | CRH | CRH plc | -1.2% | -45.60% | 減碼 |
| 49 | KKR | Kkr & Co Inc | -1.4% | EXIT | 清倉 |
| 50 | MSFT | Microsoft CORP | -1.4% | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，PointState Capital LP 在 Q2 2025 季度的美股持倉總市值約為 US$78.2億，共申報了 48 個公開持股部位。
在 Q2 2025 季度，PointState Capital LP 按市值排列的前三大核心持股分別為：SPY (18.8%)、GLW (8.3%)、ILMN (6.7%)。其中最大持股部位 SPY 佔據整體投資組合約 18.8% 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
CX
市值: US$1.4億
本季最大獲利了結 / 清倉標的
RSP
前期市值: US$2.1億
在 Q2 2025 季度中，PointState Capital LP 共進行了 55 項持倉異動，包含新建倉 14 個部位、加碼 14 個部位、減碼 19 個部位以及清倉 8 個部位。 其中最大新建倉標的為 CX。 本季清倉部位包含 RSP。
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。