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: 0001599882
申報總市值
US$10.6億
US$10.6億
94 檔
17.9%
在 Q4 2025 的 13F 官方備案中，Rhenman & Partners Asset Management AB 管理的美股投資組合規模來到 US$10.6億，整體持股檔數為 94 檔。
在 Q4 2025 期間，Rhenman & Partners Asset Management AB 展現了靈活的資產再平衡步調，透過出清 11 檔弱勢或達到目標價部位，將資金轉置於 13 檔新建倉標的之中。
在資產配置集中度方面，Rhenman & Partners Asset Management AB 的前 5 大核心持股（包含 REGN, LLY, BSX 等）合計佔整體申報市值的 17.9%，反映機構在主要關鍵部位上的權重分佈。
本季最大新建倉標的
AMGN
市值: US$1178.3萬
本季最大獲利了結 / 清倉標的
EXK
前期市值: US$1903.9萬
| # | 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 | REGN | Regeneron Pharmaceuticals | 股票-醫療保健 | 4.43% | -2.98% | +70.08% | |
| 2 | LLY | Eli Lilly & Co | 股票-醫療保健 | 4.24% | -1.30% | -20.97% | |
| 3 | BSX | Boston Scientific CORP | 股票-醫療保健 | 3.84% | -3.03% | -1.55% | |
| 4 | MDT | Medtronic plc | 股票-醫療保健 | 2.66% | +0.11% | +44.39% | |
| 5 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 2.54% | -0.80% | -1.03% | |
| 6 | COO | Cooper Cos Inc/the | 股票-醫療保健 | 2.51% | -0.07% | +38.19% | |
| 7 | CVS | Cvs Health CORP | 股票-醫療保健 | 2.49% | -0.25% | +20.96% | |
| 8 | ABBV | Abbvie Inc | 股票-醫療保健 | 2.36% | +0.38% | -15.19% | |
| 9 | GKOS | Glaukos CORP | 股票-醫療保健 | 2.22% | +0.45% | -8.70% | |
| 10 | DHR | Danaher CORP | 股票-醫療保健 | 2.12% | +1.02% | -26.33% | |
| 11 | COR | Cencora Inc | 股票-醫療保健 | 2.00% | -0.78% | +1.60% | |
| 12 | VERA | Vera Therapeutics Inc | 股票-其他 | 1.99% | — | +223.08% | |
| 13 | MCK | Mckesson CORP | 股票-醫療保健 | 1.96% | -0.62% | -3.76% | |
| 14 | AXSM | Axsome Therapeutics Inc | 股票-醫療保健 | 1.96% | +0.13% | -33.56% | |
| 15 | ALHC | Alignment Healthcare Inc | 股票-其他 | 1.86% | -0.05% | -31.76% | |
| 16 | INSM | Insmed Inc | 股票-醫療保健 | 1.85% | -1.69% | -13.88% | |
| 17 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.82% | -1.02% | +11.98% | |
| 18 | PRCT | Procept Biorobotics CORP | 股票-其他 | 1.80% | -0.73% | +56.67% | |
| 19 | ALNY | Alnylam Pharmaceuticals Inc | 股票-醫療保健 | 1.70% | -0.92% | +43.29% | |
| 20 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 1.69% | +2.15% | -12.20% | |
| 21 | NBIX | Neurocrine Biosciences Inc | 股票-醫療保健 | 1.66% | -0.27% | +9.39% | |
| 22 | PODD | Insulet CORP | 股票-醫療保健 | 1.62% | +0.24% | +5.17% | |
| 23 | DOCS | Doximity Inc-class A | 股票-醫療保健 | 1.54% | -0.38% | +174.08% | |
| 24 | EW | Edwards Lifesciences CORP | 股票-醫療保健 | 1.54% | +0.61% | +24.84% | |
| 25 | NUVL | Nuvalent Inc-a | 股票-其他 | 1.54% | -1.03% | EXIT | |
| 26 | BIIB | Biogen Inc | 股票-醫療保健 | 1.52% | -0.54% | +67.91% | |
| 27 | VRTX | Vertex Pharmaceuticals Inc | 股票-醫療保健 | 1.45% | -0.96% | -27.05% | |
| 28 | EHC | Encompass Health CORP | 股票-醫療保健 | 1.45% | +0.04% | +22.50% | |
| 29 | GILD | Gilead Sciences Inc | 股票-醫療保健 | 1.45% | -0.75% | +57.39% | |
| 30 | ALGN | Align Technology Inc | 股票-醫療保健 | 1.44% | +0.84% | +19.28% | |
| 31 | THC | Tenet Healthcare CORP | 股票-醫療保健 | 1.42% | +0.24% | +30.93% | |
| 32 | BMRN | Biomarin Pharmaceutical Inc | 股票-醫療保健 | 1.19% | +0.13% | +15.19% | |
| 33 | JAZZ | Jazz Pharmaceuticals plc | 股票-醫療保健 | 1.18% | +0.22% | -22.10% | |
| 34 | IONS | Ionis Pharmaceuticals Inc | 股票-醫療保健 | 1.17% | -0.41% | -48.87% | |
| 35 | AMGN | Amgen Inc | 股票-醫療保健 | 1.10% | -0.25% | — | |
| 36 | LIVN | LivaNova PLC | 股票-其他 | 1.09% | +0.05% | +258.49% | |
| 37 | MDGL | Madrigal Pharmaceuticals Inc | 股票-醫療保健 | 1.06% | -1.14% | +7.12% | |
| 38 | CI | THE Cigna Group | 股票-醫療保健 | 0.99% | +0.19% | -16.88% | |
| 39 | GPCR | Structure Therapeutics Inc | 股票-其他 | 0.96% | -0.02% | -18.05% | |
| 40 | SNDX | Syndax Pharmaceuticals Inc | 股票-其他 | 0.96% | +0.07% | -15.16% | |
| 41 | NRIX | Nurix Therapeutics Inc | 股票-其他 | 0.95% | +0.97% | +54.68% | |
| 42 | PNTG | Pennant Group Inc/the | 股票-其他 | 0.94% | +0.26% | — | |
| 43 | ADPT | Adaptive Biotechnologies | 股票-其他 | 0.92% | -1.23% | EXIT | |
| 44 | PEN | Penumbra Inc | 股票-醫療保健 | 0.92% | — | +53.66% | |
| 45 | ARWR | Arrowhead Pharmaceuticals In | 股票-醫療保健 | 0.90% | -0.14% | — | |
| 46 | APLSUSD | Apellis Pharmaceuticals Inc | 股票-其他 | 0.88% | — | +61.23% | |
| 47 | NTRA | Natera Inc | 股票-醫療保健 | 0.87% | +0.29% | +30.65% | |
| 48 | KURA | Kura Oncology Inc | 股票-其他 | 0.85% | +0.34% | +77.96% | |
| 49 | ACLXGBX | Arcellx Inc | 股票-其他 | 0.81% | — | +104.60% | |
| 50 | IDYA | Ideaya Biosciences Inc | 股票-其他 | 0.81% | +0.16% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | REGN | Regeneron Pharmaceuticals | +2.2% | +70.08% | 加碼 |
| 2 | VERA | Vera Therapeutics Inc | +1.6% | +223.08% | 加碼 |
| 3 | NUVL | Nuvalent Inc-a | +1% | +211.14% | 加碼 |
| 4 | LIVN | LivaNova PLC | +0.8% | +258.49% | 加碼 |
| 5 | COO | Cooper Cos Inc/the | +0.7% | +38.19% | 加碼 |
| 6 | BIIB | Biogen Inc | +0.7% | +67.91% | 加碼 |
| 7 | NRIX | Nurix Therapeutics Inc | +0.6% | +54.68% | 加碼 |
| 8 | MDT | Medtronic plc | +0.5% | +44.39% | 加碼 |
| 9 | BTSG | Brightspring Health Services | +0.5% | +230.00% | 加碼 |
| 10 | GILD | Gilead Sciences Inc | +0.5% | +57.39% | 加碼 |
| 11 | DOCS | Doximity Inc-class A | +0.4% | +174.08% | 加碼 |
| 12 | GH | Guardant Health Inc | +0.4% | +60.00% | 加碼 |
| 13 | GPCR | Structure Therapeutics Inc | +0.4% | -18.05% | 減碼 |
| 14 | IMCR | Immunocore Holdings Plc-adr | +0.4% | +442.04% | 加碼 |
| 15 | KURA | Kura Oncology Inc | +0.4% | +77.96% | 加碼 |
| 16 | PEN | Penumbra Inc | +0.4% | +53.66% | 加碼 |
| 17 | KRYS | Krystal Biotech Inc | +0.4% | +112.77% | 加碼 |
| 18 | NTRA | Natera Inc | +0.3% | +30.65% | 加碼 |
| 19 | MIRM | Mirum Pharmaceuticals Inc | +0.3% | +88.88% | 加碼 |
| 20 | APLSUSD | Apellis Pharmaceuticals Inc | +0.3% | +61.23% | 加碼 |
| 21 | ALGN | Align Technology Inc | +0.3% | +19.28% | 加碼 |
| 22 | MLTX | Moonlake Immunotherapeutics | +0.3% | +75.85% | 加碼 |
| 23 | PRCT | Procept Biorobotics CORP | +0.3% | +56.67% | 加碼 |
| 24 | ACLXGBX | Arcellx Inc | +0.2% | +104.60% | 加碼 |
| 25 | XENE | Xenon Pharmaceuticals Inc | +0.2% | +71.60% | 加碼 |
| 26 | TMO | Thermo Fisher Scientific Inc | +0.2% | +11.98% | 加碼 |
| 27 | EW | Edwards Lifesciences CORP | +0.2% | +24.84% | 加碼 |
| 28 | CVS | Cvs Health CORP | +0.2% | +20.96% | 加碼 |
| 29 | IQV | Iqvia Holdings Inc | +0.2% | +35.90% | 加碼 |
| 30 | IOVA | Iovance Biotherapeutics Inc | +0.2% | +45.32% | 加碼 |
| 31 | ISRG | Intuitive Surgical Inc | +0.1% | -1.03% | 減碼 |
| 32 | GKOS | Glaukos CORP | +0.1% | -8.70% | 減碼 |
| 33 | MDGL | Madrigal Pharmaceuticals Inc | +0.1% | +7.12% | 加碼 |
| 34 | STVN | Stevanato Group S.p.A. | +0.1% | +188.28% | 加碼 |
| 35 | THC | Tenet Healthcare CORP | +0.1% | +30.93% | 加碼 |
| 36 | ADPT | Adaptive Biotechnologies | +0.1% | +22.22% | 加碼 |
| 37 | BRKR | Bruker CORP | +0.1% | -4.54% | 減碼 |
| 38 | ALNY | Alnylam Pharmaceuticals Inc | +0.1% | +43.29% | 加碼 |
| 39 | RLAY | Relay Therapeutics Inc | +0.1% | — | 不變 |
| 40 | BMRN | Biomarin Pharmaceutical Inc | +0.1% | +15.19% | 加碼 |
| 41 | ALKS | Alkermes plc | 0% | +41.76% | 加碼 |
| 42 | OCUL | Ocular Therapeutix Inc | 0% | +31.19% | 加碼 |
| 43 | JANX | Janux Therapeutics Inc | 0% | +125.09% | 加碼 |
| 44 | XNCR | Xencor Inc | 0% | — | 不變 |
| 45 | ATEC | Alphatec Holdings Inc | 0% | +11.11% | 加碼 |
| 46 | STOK | Stoke Therapeutics Inc | 0% | -13.60% | 減碼 |
| 47 | DNLI | Denali Therapeutics Inc | 0% | — | 不變 |
| 48 | IRTC | Irhythm Holdings Inc | 0% | — | 不變 |
| 49 | SNDX | Syndax Pharmaceuticals Inc | 0% | -15.16% | 減碼 |
| 50 | VCEL | Vericel CORP | 0% | — | 不變 |
根據 SEC 官方 Form 13F 申報備案，Rhenman & Partners Asset Management AB 在 Q4 2025 季度的美股持倉總市值約為 US$10.6億，共申報了 94 個公開持股部位。
在 Q4 2025 季度，Rhenman & Partners Asset Management AB 按市值排列的前三大核心持股分別為：REGN (4.4%)、LLY (4.2%)、BSX (3.8%)。其中最大持股部位 REGN 佔據整體投資組合約 4.4% 的權重。
在 Q4 2025 季度中，Rhenman & Partners Asset Management AB 共進行了 99 項持倉異動，包含新建倉 13 個部位、加碼 43 個部位、減碼 32 個部位以及清倉 11 個部位。 其中最大新建倉標的為 AMGN。 本季清倉部位包含 EXK。
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。
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。
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。