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: 0001238990
申報總市值
US$20.2億
US$20.2億
163 檔
11.3%
Punch & Associates Investment Management, Inc. 在 Q1 2026 季度的美股部位總計估值為 US$20.2億，分散於 163 個持倉標的之中，反映其市場參與廣度與投資規模。
Punch & Associates Investment Management, Inc. 於 Q1 2026 展現出進攻型調倉步調，本季推動了 21 檔股票的新建倉與 85 檔既有部位加碼，整體資金傾向擴大在美股市場的曝險佈局。
在資產配置集中度方面，Punch & Associates Investment Management, Inc. 的前 5 大核心持股（包含 SNEX, LAUR, UTI 等）合計佔整體申報市值的 11.3%，反映機構在主要關鍵部位上的權重分佈。
| # | 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 | SNEX | Stonex Group Inc | 股票-金融 | 4.39% | -0.32% | +33.30% | |
| 2 | LAUR | Laureate Education Inc | 股票-其他 | 2.36% | -0.13% | -7.83% | |
| 3 | UTI | Universal Technical Institut | 股票-其他 | 2.24% | +0.08% | -7.95% | |
| 4 | ACA | Arcosa Inc | 股票-工業 | 2.22% | +0.28% | +0.23% | |
| 5 | ATEN | A10 Networks Inc | 股票-其他 | 1.95% | +0.25% | +1.69% | |
| 6 | RDNT | Radnet Inc | 股票-醫療保健 | 1.92% | +0.01% | -8.58% | |
| 7 | SILA | Sila Realty Trust Inc | 股票-其他 | 1.84% | -1.84% | EXIT | |
| 8 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.78% | +0.12% | -18.50% | |
| 9 | SPNT | SiriusPoint Ltd. | 股票-其他 | 1.76% | +0.02% | +1.83% | |
| 10 | TDW | Tidewater Inc | 股票-能源 | 1.68% | -0.55% | +4.27% | |
| 11 | RPRX | Royalty Pharma plc | 股票-醫療保健 | 1.66% | — | -0.26% | |
| 12 | LQDT | Liquidity Services Inc | 股票-其他 | 1.62% | +0.23% | +1.11% | |
| 13 | TREE | Lendingtree Inc | 股票-其他 | 1.60% | -0.01% | +37.77% | |
| 14 | GSL | Global Ship Lease, Inc. | 股票-其他 | 1.54% | -0.12% | -26.11% | |
| 15 | NPKI | Npk International Inc | 股票-其他 | 1.52% | -0.15% | -1.84% | |
| 16 | PLOW | Douglas Dynamics Inc | 股票-其他 | 1.51% | +0.25% | +1.16% | |
| 17 | CVCO | Cavco Industries Inc | 股票-循環性消費 | 1.42% | +0.22% | +21.26% | |
| 18 | FIBK | First Interstate Bancsys-a | 股票-其他 | 1.42% | +0.06% | +1.60% | |
| 19 | PSMT | Pricesmart Inc | 股票-非循環性消費 | 1.41% | +0.25% | +1.61% | |
| 20 | VTS | Vitesse Energy Inc | 股票-其他 | 1.40% | -0.16% | -7.29% | |
| 21 | PARR | Par Pacific Holdings Inc | 股票-能源 | 1.36% | -0.40% | -35.12% | |
| 22 | WTTR | Select Water Solutions Inc | 股票-其他 | 1.35% | +0.07% | +1.85% | |
| 23 | BG | Bunge Global SA | 股票-非循環性消費 | 1.34% | -0.65% | -4.13% | |
| 24 | GRBK | Green Brick Partners Inc | 股票-其他 | 1.33% | +0.18% | +1.73% | |
| 25 | IIIV | I3 Verticals Inc-class A | 股票-其他 | 1.33% | -0.17% | +32.81% | |
| 26 | JCAP | Jefferson Capital Inc | 股票-其他 | 1.24% | +0.15% | — | |
| 27 | ENVA | Enova International Inc | 股票-金融 | 1.20% | +0.74% | +1.92% | |
| 28 | APAM | Artisan Partners Asset Ma -a | 股票-金融 | 1.16% | -0.14% | +25.92% | |
| 29 | RTO | Rentokil Initial Plc-sp Adr | 股票-其他 | 1.09% | -0.24% | -0.29% | |
| 30 | PDX | Pimco Dynamic Income Strat | 股票-其他 | 1.08% | -0.36% | -19.26% | |
| 31 | ADUS | Addus Homecare CORP | 股票-其他 | 1.05% | -0.02% | +5.98% | |
| 32 | BXC | Bluelinx Holdings Inc | 股票-其他 | 1.01% | +0.02% | +2.07% | |
| 33 | SFM | Sprouts Farmers Market Inc | 股票-非循環性消費 | 0.97% | +0.06% | +26.08% | |
| 34 | VRRM | Verra Mobility CORP | 股票-其他 | 0.95% | -0.95% | EXIT | |
| 35 | MELI | Mercadolibre Inc | 股票-循環性消費 | 0.93% | -0.15% | +9.31% | |
| 36 | MSFT | Microsoft CORP | 股票-科技 | 0.92% | -0.12% | +16.48% | |
| 37 | LZ | Legalzoomcom Inc | 股票-其他 | 0.88% | -0.02% | +2.37% | |
| 38 | IQV | Iqvia Holdings Inc | 股票-醫療保健 | 0.87% | -0.07% | +0.11% | |
| 39 | DSP | Viant Technology Inc-a | 股票-其他 | 0.87% | +0.07% | +16.44% | |
| 40 | KKR | Kkr & Co Inc | 股票-金融 | 0.86% | -0.12% | +0.07% | |
| 41 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 0.86% | -0.09% | +0.06% | |
| 42 | HLMN | Hillman Solutions CORP | 股票-其他 | 0.85% | -0.06% | +1.73% | |
| 43 | MRVL | Marvell Technology Inc | 股票-科技 | 0.80% | +1.28% | +80.61% | |
| 44 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.77% | -0.11% | +0.11% | |
| 45 | CSW | Csw Industrials Inc | 股票-工業 | 0.77% | -0.02% | +1.94% | |
| 46 | BV | Brightview Holdings Inc | 股票-其他 | 0.76% | +0.07% | +2.04% | |
| 47 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.75% | -0.03% | -3.45% | |
| 48 | EOG | Eog Resources Inc | 股票-能源 | 0.75% | -0.17% | +0.48% | |
| 49 | BRSP | Brightspire Capital Inc | 股票-其他 | 0.75% | -0.10% | -1.02% | |
| 50 | PAYS | Paysign Inc | 股票-其他 | 0.70% | +0.14% | +40.73% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | TDW | Tidewater Inc | +0.7% | +4.27% | 加碼 |
| 2 | ATEN | A10 Networks Inc | +0.5% | +1.69% | 加碼 |
| 3 | SNEX | Stonex Group Inc | +0.5% | +33.30% | 加碼 |
| 4 | UTI | Universal Technical Institut | +0.5% | -7.95% | 減碼 |
| 5 | WTTR | Select Water Solutions Inc | +0.4% | +1.85% | 加碼 |
| 6 | MRVL | Marvell Technology Inc | +0.4% | +80.61% | 加碼 |
| 7 | BG | Bunge Global SA | +0.4% | -4.13% | 減碼 |
| 8 | PLOW | Douglas Dynamics Inc | +0.3% | +1.16% | 加碼 |
| 9 | RPRX | Royalty Pharma plc | +0.3% | -0.26% | 減碼 |
| 10 | PSMT | Pricesmart Inc | +0.3% | +1.61% | 加碼 |
| 11 | PAYS | Paysign Inc | +0.3% | +40.73% | 加碼 |
| 12 | NPKI | Npk International Inc | +0.2% | -1.84% | 減碼 |
| 13 | SMRT | Smartrent Inc | +0.2% | +163.88% | 加碼 |
| 14 | APEI | American Public Education | +0.2% | -0.16% | 減碼 |
| 15 | EOG | Eog Resources Inc | +0.2% | +0.48% | 加碼 |
| 16 | IIIV | I3 Verticals Inc-class A | +0.2% | +32.81% | 加碼 |
| 17 | RFIL | Rf Industries LTD | +0.2% | -6.20% | 減碼 |
| 18 | PARR | Par Pacific Holdings Inc | +0.2% | -35.12% | 減碼 |
| 19 | AVNS | Avanos Medical Inc | +0.2% | +61.88% | 加碼 |
| 20 | SFM | Sprouts Farmers Market Inc | +0.2% | +26.08% | 加碼 |
| 21 | TREE | Lendingtree Inc | +0.1% | +37.77% | 加碼 |
| 22 | SILA | Sila Realty Trust Inc | +0.1% | +7.34% | 加碼 |
| 23 | APAM | Artisan Partners Asset Ma -a | +0.1% | +25.92% | 加碼 |
| 24 | TGT | Target CORP | +0.1% | +0.02% | 加碼 |
| 25 | MLR | Miller Industries Inc/tenn | +0.1% | +36.08% | 加碼 |
| 26 | CSV | Carriage Services Inc | +0.1% | +6.91% | 加碼 |
| 27 | LINC | Lincoln Educational Services | +0.1% | -30.40% | 減碼 |
| 28 | TRNS | Transcat Inc | +0.1% | +9.35% | 加碼 |
| 29 | EPSN | Epsilon Energy LTD | +0.1% | +26.53% | 加碼 |
| 30 | DSP | Viant Technology Inc-a | +0.1% | +16.44% | 加碼 |
| 31 | RTO | Rentokil Initial Plc-sp Adr | +0.1% | -0.29% | 減碼 |
| 32 | HTLD | Heartland Express Inc | +0.1% | +14.06% | 加碼 |
| 33 | PDEX | Pro-dex Inc | +0.1% | +2.89% | 加碼 |
| 34 | GRBK | Green Brick Partners Inc | 0% | +1.73% | 加碼 |
| 35 | NATR | Natures Sunshine Prods Inc | 0% | — | 不變 |
| 36 | NVEC | Nve CORP | 0% | +1.77% | 加碼 |
| 37 | DUK | Duke Energy CORP | 0% | -0.06% | 減碼 |
| 38 | SJT | San Juan Basin Royalty Tr | 0% | +34.17% | 加碼 |
| 39 | FLXS | Flexsteel Inds | 0% | +0.60% | 加碼 |
| 40 | KRT | Karat Packaging Inc | 0% | +10.38% | 加碼 |
| 41 | QXO 5.5 05-15-28債券 | Qxo Inc | 0% | +16.31% | 加碼 |
| 42 | WM | Waste Management Inc | 0% | +0.23% | 加碼 |
| 43 | LGCY | Legacy Education Inc | 0% | — | 不變 |
| 44 | KEQU | Kewaunee Scientific Cp | 0% | +23.05% | 加碼 |
| 45 | KKR 6.25 03-01-28 D債券 | Kkr & Co Inc | 0% | +43.71% | 加碼 |
| 46 | INFU | Infusystem Holdings Inc | 0% | +1.60% | 加碼 |
| 47 | MAMA | Mama's Creations Inc | 0% | — | 不變 |
| 48 | PLBC | Plumas Bancorp | 0% | — | 不變 |
| 49 | LQDT | Liquidity Services Inc | 0% | +1.11% | 加碼 |
| 50 | LEGH | Legacy Housing CORP | 0% | -0.34% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Punch & Associates Investment Management, Inc. 在 Q1 2026 季度的美股持倉總市值約為 US$20.2億，共申報了 163 個公開持股部位。
在 Q1 2026 季度，Punch & Associates Investment Management, Inc. 按市值排列的前三大核心持股分別為：SNEX (4.4%)、LAUR (2.4%)、UTI (2.2%)。其中最大持股部位 SNEX 佔據整體投資組合約 4.4% 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
JCAP
市值: US$2145.8萬
本季最大獲利了結 / 清倉標的
HSTM
前期市值: US$1042.3萬
在 Q1 2026 季度中，Punch & Associates Investment Management, Inc. 共進行了 166 項持倉異動，包含新建倉 21 個部位、加碼 85 個部位、減碼 46 個部位以及清倉 14 個部位。 其中最大新建倉標的為 JCAP。 本季清倉部位包含 HSTM。
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。