综合金融平台Diversified financial platform · platform
JPMorgan
摩根大通
公开持仓Public holdings
13F-RS 研究可用度13F-RS research usability
53.9
覆盖coverage 70% · 置信confidence B
结论先行Answer first
前五大占17.0%，最值得继续核验的动作是增持MICRON TECHNOLOGY INCTop five represent 17.0%; increase in MICRON TECHNOLOGY INC is the clearest next diligence lead
最大可见非期权证券持仓为NVIDIA CORPORATION（4.8%）；季度快照换手代理为9.5%，前十大延续率为100.0%。该机构归入“银行/综合平台”，13F只能解释公开的美国可报告证券多头。
The largest visible non-option security is NVIDIA CORPORATION (4.8%). The quarterly snapshot turnover proxy is 9.5%, and top-ten persistence is 100.0%. The manager is classified as Diversified financial platform; 13F covers only visible reportable U.S. long securities.
按上季可见权重 × 股数降幅排序；完整非期权证券变化见下方。Ranked by prior visible weight × share decline; the full non-option security changes appear below.
下一步Next diligence
把增持MICRON TECHNOLOGY INC作为研究线索，结合公司基本面、估值、催化剂及13D/G核验；不要直接跟单。
Treat the increase in MICRON TECHNOLOGY INC as a research lead and verify fundamentals, valuation, catalysts and any 13D/G filings; do not copy mechanically.
CUSIP bridge · terminal event
公司行动换算与事件退出Corporate-action adjustments and event exits
下列旧证券没有被机械写成“清仓”。股票事件按权威比例恢复可比基线；现金/CVR并购没有 13F 继承证券，直接从卖出分类剔除。
These obsolete securities are not mechanically labeled as exits. Stock events use primary-source ratios to restore comparable baselines; cash/CVR mergers have no 13F successor and are excluded from sale classification.
| 生效日Effective | 上季证券Prior security | 可比证券 / 事件处置Comparable security / event treatment | 证据Evidence |
|---|---|---|---|
| 2026-04-07 | HOLOGIC INCCUSIP 436440101 · 3,301,493 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceBlackstone 与 TPG 完成收购；每股 76 美元现金加一份最高 3 美元的 CVR，证券注销，不推断为管理人主动卖出Blackstone and TPG completed the acquisition for $76 cash plus one CVR worth up to $3 per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-04-08 | AIR LEASE CORPCUSIP 00912X302 · 1,598,123 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceSumisho Air Lease 完成私有化；每股 65 美元现金，A 类普通股注销，不推断为管理人主动卖出Sumisho Air Lease completed the take-private for $65 cash per share; the Class A common stock was cancelled, so no manager-initiated sale is inferred |
| 2026-04-09 | SEALED AIR CORP NEWCUSIP 81211K100 · 2,644,269 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceCD&R 完成收购；每股 42.15 美元现金，证券注销，不推断为管理人主动卖出CD&R completed the acquisition for $42.15 cash per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-04-27 | AMICUS THERAPEUTICSCUSIP 03152W109 · 6,749,190 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceBioMarin 完成收购；每股 14.50 美元现金，证券注销，不推断为管理人主动卖出BioMarin completed the acquisition for $14.50 cash per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-04-28 | ARCELLX INCCUSIP 03940C100 · 593,573 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceGilead 完成收购；每股 115 美元现金加一份 5 美元 CVR，证券注销，不推断为管理人主动卖出Gilead completed the acquisition for $115 cash plus one $5 CVR per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-05-05 | TERNS PHARMACEUTICALS INCCUSIP 880881107 · 2,869,728 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceMerck 完成要约收购及合并；每股 53 美元现金，证券注销，不推断为管理人主动卖出Merck completed the tender offer and merger for $53 cash per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-05-07 | COTERRA ENERGY INCCUSIP 127097103 · 12,865,905 股shares | DEVON ENERGY CORP NEWCUSIP 25179M103换股所得 9,006,134 股 + 原有继承证券 4,056,069 股 = 可比基准 13,062,202 股；本季申报 8,719,666 股Converted 9,006,134 shares + 4,056,069 pre-existing successor shares = 13,062,202 comparable baseline shares; current filing 8,719,666 shares | 核验来源Verification sourceCoterra 与 Devon 完成全股票合并；每股 Coterra 换 0.70 股 Devon，先并入原有 Devon 基线再比较Coterra and Devon completed an all-stock merger; each Coterra share converted into 0.70 Devon shares, which are added to any existing Devon baseline before comparison |
| 2026-05-14 | TRI POINTE HOMES INCCUSIP 87265H109 · 1,060,807 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceSumitomo Forestry 完成收购；每股 47 美元现金，证券注销，不推断为管理人主动卖出Sumitomo Forestry completed the acquisition for $47 cash per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-05-14 | APELLIS PHARMACEUTICALS INCCUSIP 03753U106 · 2,047,927 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceBiogen 完成收购；每股 41 美元现金加一份最高 4 美元的 CVR，证券注销，不推断为管理人主动卖出Biogen completed the acquisition for $41 cash plus one CVR worth up to $4 per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-05-18 | SOLENO THERAPEUTICS INCCUSIP 834203309 · 51,480 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceNeurocrine 完成收购；每股 53 美元现金，证券注销，不推断为管理人主动卖出Neurocrine completed the acquisition for $53 cash per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-06-10 | MASIMO CORPCUSIP 574795100 · 572,645 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceDanaher 完成收购；每股 180 美元现金，证券注销，不推断为管理人主动卖出Danaher completed the acquisition for $180 cash per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-06-24 | CENTESSA PHARMACEUTICALS PLCCUSIP 152309100 · 477,597 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourceLilly 完成收购；每股 38 美元现金加一份最高 9 美元的 CVR，ADS 注销，不推断为管理人主动卖出Lilly completed the acquisition for $38 cash plus one CVR worth up to $9 per share; the ADS was cancelled, so no manager-initiated sale is inferred |
| 2026-06-25 | CLEARWATER ANALYTICS HLDGS ICUSIP 185123106 · 4,443,464 股shares | 现金/CVR 已结算；无 13F 继承证券。本项列入公司事件，不推断为主动卖出。Cash/CVR settled with no 13F successor security. This is recorded as a corporate event, not inferred as an active sale. | 核验来源Verification sourcePermira 与 Warburg Pincus 牵头的投资者集团完成私有化；每股 24.55 美元现金，证券注销，不推断为管理人主动卖出A Permira- and Warburg Pincus-led investor group completed the take-private for $24.55 cash per share; the security was cancelled, so no manager-initiated sale is inferred |
| 2026-04-20 | ASCENDIS PHARMA A/SCUSIP 04351P101 · 539,434 股shares | ASCENDIS PHARMA A/SCUSIP K08588103权威比例基准 539,434 股；本季申报 367,781 股Primary-ratio baseline 539,434 shares; current filing 367,781 shares | 核验来源Verification sourceADS 按 1:1 强制转换为普通股并更换 CUSIPMandatory 1:1 ADS-to-ordinary-share exchange and CUSIP change |
| 2026-05-04 | THOMSON REUTERS CORPCUSIP 884903808 · 1,321,128 股shares | THOMSON REUTERS CORPCUSIP 884903881权威比例基准 1,300,730 股；本季申报 975,009 股Primary-ratio baseline 1,300,730 shares; current filing 975,009 shares | 核验来源Verification source资本返还后按 0.984560:1 合股并更换 CUSIP0.984560-for-1 share consolidation after a return of capital, with a CUSIP change |
| 2026-05-07 | CARNIVAL CORPCUSIP 143658300 · 19,811,869 股shares | CARNIVAL CORP LTDCUSIP G2004J103权威比例基准 19,811,869 股；本季申报 24,508,386 股Primary-ratio baseline 19,811,869 shares; current filing 24,508,386 shares | 核验来源Verification source公司结构简化及迁册，旧股按 1:1 对应新 CUSIPCorporate simplification and redomiciliation, with old shares mapped 1:1 to the new CUSIP |
| 2026-06-24 | DUPONT DE NEMOURS INCCUSIP 26614N102 · 4,265,449 股shares | DUPONT DE NEMOURS INCCUSIP 26614N201权威比例基准 1,421,816 股；本季申报 1,516,414 股Primary-ratio baseline 1,421,816 shares; current filing 1,516,414 shares | 核验来源Verification source1:3 反向拆股并更换 CUSIP1-for-3 reverse stock split and CUSIP change |
| 2026-06-29 | HONEYWELL INTL INCCUSIP 438516106 · 7,239,680 股shares | HONEYWELL AEROSPACE INCCUSIP 43849R105权威比例基准 3,619,840 股；本季申报 3,881,348 股Primary-ratio baseline 3,619,840 shares; current filing 3,881,348 shares HONEYWELL INTL INCCUSIP 438516205权威比例基准 3,619,840 股；本季申报 3,270,903 股Primary-ratio baseline 3,619,840 shares; current filing 3,270,903 shares | 核验来源Verification source航天业务分拆，同时原公司 1:2 反向拆股并更换 CUSIPAerospace spin-off plus a 1-for-2 reverse split and CUSIP change for the remaining company |
| 2026-06-30 | MARQETA INCCUSIP 57142B104 · 345,993 股shares | MARQETA INCCUSIP 57142B203权威比例基准 86,498 股；本季申报 0 股Primary-ratio baseline 86,498 shares; current filing 0 shares | 核验来源Verification source1:4 反向拆股在季末收盘生效；部分13F用新CUSIP但仍报拆股前数量，本季只桥接身份、不推断交易A 1-for-4 reverse split took effect at the quarter-end close; some 13Fs use the new CUSIP with pre-split quantities, so this quarter bridges identity without inferring trading |
CIK · accession · accepted date
本季申报链Current filing chain
先展示 13F-NT 关系通知，再展示解析到的 13F-HR / HR-A。价值单位说明保留检测结果和归一化倍数。
Relationship notices appear before resolved 13F-HR / HR-A filings. Unit notes preserve the detection result and normalization multiplier.
| 法律申报人Legal filer | CIK | Form | Accession | 申报日Filed | 解析 / 单位说明Resolution / unit note |
|---|---|---|---|---|---|
| JPMORGAN CHASE & CO | CIK 0000019617 | 13F-HR | 0000019617-26-000325 | 2026-08-12 | usd_consistent_with_implied_prices |
2026-03-31 → 2026-06-30
持仓与季度变化Holdings and quarterly change
前十大可见非期权证券Top visible non-option holdings 10
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| NVIDIA CORPORATIONCOMMON · CUSIP 67066G104 | — | $87.62bn | 4.85% | 449,404,578 | 0.4% |
| APPLE INCCOMMON · CUSIP 037833100 | — | $64.45bn | 3.57% | 228,762,008 | -1.2% |
| MICROSOFT CORPCOMMON · CUSIP 594918104 | — | $49.82bn | 2.76% | 135,173,516 | 6.3% |
| ALPHABET INCCOMMON · CUSIP 02079K107 | — | $48.42bn | 2.68% | 137,833,254 | 15.0% |
| AMAZON COM INCCOMMON · CUSIP 023135106 | — | $40.34bn | 2.23% | 167,979,147 | -0.6% |
| BROADCOM INCCOMMON · CUSIP 11135F101 | — | $35.39bn | 1.96% | 95,016,148 | 3.5% |
| STATE STREET SPDR S&P 500 ETFFUND · CUSIP 78462F103 | — | $35.31bn | 1.95% | 47,650,227 | 4.1% |
| ALPHABET INCCOMMON · CUSIP 02079K305 | — | $32.51bn | 1.80% | 91,919,476 | 29.6% |
| MICRON TECHNOLOGY INCCOMMON · CUSIP 595112103 | — | $29.59bn | 1.64% | 25,836,011 | 63.8% |
| META PLATFORMS INCCOMMON · CUSIP 30303M102 | — | $25.85bn | 1.43% | 45,944,387 | -8.4% |
新建仓位New positions 10
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| SPACE EXPLORATION TECHN CORPCOMMON · CUSIP 84615Q103 | — | $2.56bn | 0.14% | 15,563,576 | — |
| CEREBRAS SYSTEMS INCCOMMON · CUSIP 15675D103 | — | $670.3m | 0.04% | 3,100,806 | — |
| INNIO NVCOMMON · CUSIP N52A8C105 | — | $473.4m | 0.03% | 12,353,527 | — |
| ROUNDHILL MEMORY ETFFUND · CUSIP 77926X320 | — | $393.8m | 0.02% | 5,473,904 | — |
| ISHRS SYS ALT ACT ETFFUND · CUSIP 09290C665 | — | $300.1m | 0.02% | 10,676,181 | — |
| FERVO ENERGY COCOMMON · CUSIP 31556C106 | — | $240.4m | 0.01% | 7,566,646 | — |
| FEDEX FGHT HLDG CO INCCOMMON · CUSIP 314352105 | — | $199.6m | 0.01% | 1,333,133 | — |
| DPC HOLDINGS PLCCOMMON · CUSIP G2R11M108 | — | $139.3m | 0.01% | 2,691,463 | — |
| ISHARES GLOBAL GB USD HA ETFFUND · CUSIP 092528835 | — | $120.2m | 0.01% | 2,382,374 | — |
| VANECK DIGITAL TRANSFORMATIOFUND · CUSIP 92189H821 | — | $68.1m | 0.00% | 3,425,961 | — |
增持仓位Added positions 10
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| MICRON TECHNOLOGY INCCOMMON · CUSIP 595112103 | — | $29.59bn | 1.64% | 25,836,011 | 63.8% |
| ADVANCED MICRO DEVICES INCCOMMON · CUSIP 007903107 | — | $21.75bn | 1.20% | 40,309,233 | 66.2% |
| LAM RESEARCH CORPCOMMON · CUSIP 512807306 | — | $18.62bn | 1.03% | 45,317,479 | 38.5% |
| ALPHABET INCCOMMON · CUSIP 02079K107 | — | $48.42bn | 2.68% | 137,833,254 | 15.0% |
| ALPHABET INCCOMMON · CUSIP 02079K305 | — | $32.51bn | 1.80% | 91,919,476 | 29.6% |
| APPLIED MATLS INCCOMMON · CUSIP 038222105 | — | $9.65bn | 0.53% | 13,886,053 | 182.0% |
| CORNING INCCOMMON · CUSIP 219350105 | — | $9.21bn | 0.51% | 36,016,393 | 203.4% |
| SANDISK CORPCOMMON · CUSIP 80004C200 | — | $8.08bn | 0.45% | 3,941,436 | 175.8% |
| CATERPILLAR INCCOMMON · CUSIP 149123101 | — | $7.57bn | 0.42% | 7,325,731 | 149.1% |
| INTEL CORPCOMMON · CUSIP 458140100 | — | $6.64bn | 0.37% | 50,425,548 | 54.0% |
减持仓位Reduced positions 10
用公司行动调整后的股数判断，按上季可见权重 × 股数降幅排序；报告权重变化不是交易量。Classified from corporate-action-adjusted shares and ranked by prior visible weight × share decline; reported weight change is not trading volume.
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| EXXON MOBIL CORPCOMMON · CUSIP 30231G102 | — | $8.77bn | 0.48% | 64,457,292 | -24.7% |
| INTUITCOMMON · CUSIP 461202103 | — | $1.28bn | 0.07% | 4,808,487 | -63.3% |
| WALMART INCCOMMON · CUSIP 931142103 | — | $11.04bn | 0.61% | 96,309,921 | -21.4% |
| SCHWAB CHARLES CORPCOMMON · CUSIP 808513105 | — | $4.45bn | 0.25% | 49,165,186 | -33.4% |
| META PLATFORMS INCCOMMON · CUSIP 30303M102 | — | $25.85bn | 1.43% | 45,944,387 | -8.4% |
| MASTERCARD INCORPORATEDCOMMON · CUSIP 57636Q104 | — | $14.39bn | 0.80% | 28,228,027 | -13.6% |
| INSMED INCCOMMON · CUSIP 457669307 | — | $1.09bn | 0.06% | 10,428,170 | -56.8% |
| MEDTRONIC PLCCOMMON · CUSIP G5960L103 | — | $2.25bn | 0.12% | 27,784,471 | -45.5% |
| ALIBABA GROUP HLDG LTDADR · CUSIP 01609W102 | — | $422.0m | 0.02% | 4,418,393 | -78.4% |
| ISHARES CORE S&P 500 ETFFUND · CUSIP 464287200 | — | $15.28bn | 0.85% | 20,535,841 | -12.8% |
退出候选Apparent exits 10
仅表示排除已知公司事件后，本期未见同一可比证券；到期、退市及未知事件仍须核验。Only means the comparable security is absent after known event checks; maturities, delistings and unknown events still require review.
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| DAY ONE BIOPHARMACEUTICALS ICOMMON · CUSIP 23954D109 | — | $67.1m | 0.00% | 3,134,753 | -100.0% |
| SEAGATE HDD CAYMANBOND · CUSIP 81180WBL4 | — | $55.6m | 0.00% | 12,818,000 | -100.0% |
| ONESTREAM INCCOMMON · CUSIP 68278B107 | — | $35.2m | 0.00% | 1,467,884 | -100.0% |
| FRONTIER NUCLEAR & MINERALSCOMMON · CUSIP 359134103 | — | $32.3m | 0.00% | 16,009,164 | -100.0% |
| VERIS RESIDENTIAL INCCOMMON · CUSIP 554489104 | — | $26.3m | 0.00% | 1,386,022 | -100.0% |
| JETBLUE AIRWAYS CORPBOND · CUSIP 477143AR2 | — | $25.4m | 0.00% | 26,946,000 | -100.0% |
| CSG SYS INTL INCBOND · CUSIP 126349AH2 | — | $23.6m | 0.00% | 19,346,000 | -100.0% |
| CSG SYS INTL INCCOMMON · CUSIP 126349109 | — | $22.8m | 0.00% | 285,306 | -100.0% |
| DUKE ENERGY CORP NEWBOND · CUSIP 26441CBY0 | — | $19.8m | 0.00% | 17,882,000 | -100.0% |
| HERITAGE COMM CORPCOMMON · CUSIP 426927109 | — | $17.7m | 0.00% | 1,440,695 | -100.0% |
期权切片Options slice 10
Put/Call 股数是标的股数；13F 没有执行价、到期日、权利金或净方向。Put/call shares are underlying shares; 13F omits strike, expiry, premium and net direction.
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| INVESCO QQQ TROPTION · CUSIP 46090E953 | PUT | $9.17bn | 0.51% | 12,657,600 | 137.9% |
| STATE STR SPDR S&P 500 ETF TOPTION · CUSIP 78462F953 | PUT | $7.75bn | 0.43% | 10,452,800 | -44.6% |
| ISHARES TROPTION · CUSIP 464287955 | PUT | $5.39bn | 0.30% | 20,172,700 | 6.6% |
| SPDR GOLD TROPTION · CUSIP 78463V957 | PUT | $4.37bn | 0.24% | 11,859,200 | -4.5% |
| NVIDIA CORPORATIONOPTION · CUSIP 67066G904 | CALL | $3.48bn | 0.19% | 17,836,900 | -4.8% |
| INVESCO QQQ TROPTION · CUSIP 46090E903 | CALL | $2.75bn | 0.15% | 3,801,300 | 26.2% |
| APPLE INCOPTION · CUSIP 037833950 | PUT | $2.17bn | 0.12% | 7,717,200 | 118.5% |
| AMAZON COM INCOPTION · CUSIP 023135906 | CALL | $1.80bn | 0.10% | 7,481,100 | -13.0% |
| APPLE INCOPTION · CUSIP 037833900 | CALL | $1.79bn | 0.10% | 6,350,800 | -40.2% |
| ISHARES INCOPTION · CUSIP 464286952 | PUT | $1.67bn | 0.09% | 8,462,800 | 5,716.4% |
13F-RS-v1.0
评分拆解Score breakdown
| 维度Dimension | 得分Score | 相对满分Relative to max | 比例Ratio |
|---|---|---|---|
| 申报完整性Filing integrity | 15.0 / 15 | 100% | |
| 实体映射Entity mapping | 10.0 / 10 | 100% | |
| 策略适配度Strategy fit | 4.5 / 15 | 30% | |
| 集中度信息密度Concentration signal | 4.2 / 10 | 42% | |
| 高确信度可识别性Conviction identifiability | 2.0 / 15 | 13% | |
| 延续性 / 换手Persistence / turnover | 9.4 / 10 | 94% | |
| 申报时滞Filing lag | 0.6 / 10 | 6% | |
| 不可见风险Opacity risk | 8.2 / 10 | 82% | |
| 独立共识Independent consensus | 0.0 / 5 | 0% |
策略分类：综合金融平台。分数衡量公开13F的研究可用度，不评价未来收益。Strategy classification: Diversified financial platform. The score measures public-13F research usability, not future returns.
H（高确信度可识别性）当前以单仓≥2%为有限代理，尚未接入风格基准主动权重，因此该分项覆盖度只有50%。H (conviction identifiability) currently uses positions ≥2% as a limited proxy; style-benchmark active weights are not yet available, so this component has only 50% coverage.