综合金融平台Diversified financial platform · platform
Morgan Stanley
摩根士丹利
研究可用度中Medium research usability
13F-RS 研究可用度13F-RS research usability
57.8
覆盖coverage 70% · 置信confidence B
结论先行Answer first
前五大占14.5%，最值得继续核验的动作是增持MICRON TECHNOLOGY INCTop five represent 14.5%; 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（3.8%）；季度快照换手代理为4.7%，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 (3.8%). The quarterly snapshot turnover proxy is 4.7%, 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 · 3,573,011 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 · 2,304,844 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 · 4,175,824 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 · 6,998,884 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 · 925,813 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 · 6,449,140 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 · 8,927,080 股shares | DEVON ENERGY CORP NEWCUSIP 25179M103换股所得 6,248,956 股 + 原有继承证券 11,726,849 股 = 可比基准 17,975,805 股；本季申报 23,513,769 股Converted 6,248,956 shares + 11,726,849 pre-existing successor shares = 17,975,805 comparable baseline shares; current filing 23,513,769 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 · 948,783 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 · 10,042,399 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 · 242,262 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 · 752,417 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 · 4,268,353 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 · 2,546,987 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 · 606,348 股shares | ASCENDIS PHARMA A/SCUSIP K08588103权威比例基准 606,348 股；本季申报 544,393 股Primary-ratio baseline 606,348 shares; current filing 544,393 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 · 3,262,425 股shares | THOMSON REUTERS CORPCUSIP 884903881权威比例基准 3,212,053 股；本季申报 4,435,768 股Primary-ratio baseline 3,212,053 shares; current filing 4,435,768 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 · 14,361,676 股shares | CARNIVAL CORP LTDCUSIP G2004J103权威比例基准 14,361,676 股；本季申报 14,396,460 股Primary-ratio baseline 14,361,676 shares; current filing 14,396,460 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 · 8,149,632 股shares | DUPONT DE NEMOURS INCCUSIP 26614N201权威比例基准 2,716,544 股；本季申报 2,715,459 股Primary-ratio baseline 2,716,544 shares; current filing 2,715,459 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 · 18,428,804 股shares | HONEYWELL AEROSPACE INCCUSIP 43849R105权威比例基准 9,214,402 股；本季申报 9,286,812 股Primary-ratio baseline 9,214,402 shares; current filing 9,286,812 shares HONEYWELL INTL INCCUSIP 438516205权威比例基准 9,214,402 股；本季申报 9,632,173 股Primary-ratio baseline 9,214,402 shares; current filing 9,632,173 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 · 2,375,099 股shares | MARQETA INCCUSIP 57142B203权威比例换算为 593,775 股；本季却申报 1,310,610 股，因口径冲突不计算变化Primary ratio implies 593,775 shares, while the current filing reports 1,310,610; no change is calculated because the conventions conflict季末报量口径冲突，本季只桥接身份、不分类买卖Quarter-end quantity convention conflict; identity bridged without trade classification | 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 |
|---|---|---|---|---|---|
| MORGAN STANLEY | CIK 0000895421 | 13F-HR | 0000895421-26-000243 | 2026-08-13 | 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 CORPORATIONCOM · CUSIP 67066G104 | — | $71.32bn | 3.77% | 356,420,089 | 3.9% |
| APPLE INCCOM · CUSIP 037833100 | — | $70.20bn | 3.71% | 242,614,238 | -0.8% |
| MICROSOFT CORPCOM · CUSIP 594918104 | — | $47.63bn | 2.52% | 127,674,661 | 2.2% |
| ALPHABET INCCAP STK CL A · CUSIP 02079K305 | — | $43.07bn | 2.28% | 120,511,301 | -0.4% |
| AMAZON COM INCCOM · CUSIP 023135106 | — | $42.75bn | 2.26% | 179,376,541 | 3.1% |
| BROADCOM INCCOM · CUSIP 11135F101 | — | $29.86bn | 1.58% | 79,037,987 | 4.1% |
| ALPHABET INCCAP STK CL C · CUSIP 02079K107 | — | $25.59bn | 1.35% | 72,425,149 | 1.1% |
| STATE STR SPDR S&P 500 ETF TTR UNIT · CUSIP 78462F103 | — | $24.11bn | 1.27% | 32,285,648 | -20.3% |
| META PLATFORMS INCCL A · CUSIP 30303M102 | — | $22.21bn | 1.18% | 39,435,817 | 3.6% |
| JPMORGAN CHASE & COCOM · CUSIP 46625H100 | — | $21.96bn | 1.16% | 67,092,426 | -2.1% |
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 CORPCLASS A COM STK · CUSIP 84615Q103 | — | $2.31bn | 0.12% | 13,532,773 | — |
| CEREBRAS SYSTEMS INCCOM CL A · CUSIP 15675D103 | — | $712.6m | 0.04% | 3,224,209 | — |
| MADISON AIR SOLUTIONS CORPCOM SHS CL A · CUSIP 55658T105 | — | $225.9m | 0.01% | 5,793,130 | — |
| FEDEX FGHT HLDG CO INCCOMMON STOCK · CUSIP 314352105 | — | $219.7m | 0.01% | 1,454,800 | — |
| ROUNDHILL ETF TRUSTMEMORY ETF · CUSIP 77926X320 | — | $203.5m | 0.01% | 2,756,064 | — |
| BLACKROCK ETF TRUSTISHA IN CTRY ETF · CUSIP 09290C764 | — | $199.4m | 0.01% | 5,446,981 | — |
| BLACKROCK ETF TRUST IIISHA GLO USD ETF · CUSIP 092528835 | — | $122.2m | 0.01% | 2,429,490 | — |
| OCEANAGOLD CORPCOM NEW · CUSIP 675222400 | — | $77.6m | 0.00% | 3,092,997 | — |
| KEEL INFRASTRUCTURE CORPCOM SHS · CUSIP 486917107 | — | $72.8m | 0.00% | 12,682,283 | — |
| ALPHABET INCDEP SHS RP1/20 B · CUSIP 02079K602 | — | $48.8m | 0.00% | 973,637 | — |
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 INCCOM · CUSIP 595112103 | — | $21.32bn | 1.13% | 18,470,449 | 9.7% |
| ADVANCED MICRO DEVICES INCCOM · CUSIP 007903107 | — | $14.11bn | 0.75% | 24,286,371 | 2.1% |
| INTEL CORPCOM · CUSIP 458140100 | — | $8.59bn | 0.45% | 61,516,453 | 13.9% |
| APPLIED MATLS INCCOM · CUSIP 038222105 | — | $9.78bn | 0.52% | 13,523,832 | 14.2% |
| MICROSOFT CORPCOM · CUSIP 594918104 | — | $47.63bn | 2.52% | 127,674,661 | 2.2% |
| ELI LILLY & COCOM · CUSIP 532457108 | — | $19.46bn | 1.03% | 16,226,398 | 5.1% |
| NVIDIA CORPORATIONCOM · CUSIP 67066G104 | — | $71.32bn | 3.77% | 356,420,089 | 3.9% |
| BROADCOM INCCOM · CUSIP 11135F101 | — | $29.86bn | 1.58% | 79,037,987 | 4.1% |
| WESTERN DIGITAL CORPCOM · CUSIP 958102105 | — | $5.20bn | 0.28% | 8,148,144 | 2.6% |
| META PLATFORMS INCCL A · CUSIP 30303M102 | — | $22.21bn | 1.18% | 39,435,817 | 3.6% |
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 |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF TTR UNIT · CUSIP 78462F103 | — | $24.11bn | 1.27% | 32,285,648 | -20.3% |
| ISHARES TRRUSSELL 2000 ETF · CUSIP 464287655 | — | $5.62bn | 0.30% | 18,693,662 | -37.2% |
| SALESFORCE INCCOM · CUSIP 79466L302 | — | $3.65bn | 0.19% | 23,311,316 | -26.4% |
| AMGEN INCCOM · CUSIP 031162100 | — | $4.94bn | 0.26% | 13,653,692 | -13.8% |
| VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT · CUSIP 921943858 | — | $5.24bn | 0.28% | 73,490,701 | -13.2% |
| ZOETIS INCCL A · CUSIP 98978V103 | — | $638.0m | 0.03% | 8,878,849 | -37.2% |
| GE VERNOVA INCCOM · CUSIP 36828A101 | — | $6.72bn | 0.35% | 5,715,959 | -10.3% |
| SNOWFLAKE INCCOM SHS · CUSIP 833445109 | — | $887.2m | 0.05% | 3,486,180 | -51.7% |
| ISHARES TRIBOXX HI YD ETF · CUSIP 464288513 | — | $1.55bn | 0.08% | 19,441,067 | -25.9% |
| VANECK ETF TRUSTSEMICONDUCTR ETF · CUSIP 92189F676 | — | $2.67bn | 0.14% | 4,074,538 | -25.4% |
本季未见｜不分类为退出Current absences | not classified as exits 10
组合、关系通知或保密口径使缺席含义不完整；这些证券不进入退出候选或跨机构卖出共识。Combination, notice or confidential scope makes absence incomplete; these securities do not enter apparent exits or cross-manager sell consensus.
| 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 |
|---|---|---|---|---|---|
| SEABRIDGE GOLD INCCOM · CUSIP 811916105 | — | $55.4m | 0.00% | 1,955,941 | — |
| MFS CHARTER INCOME TRSH BEN INT · CUSIP 552727109 | — | $46.5m | 0.00% | 7,677,944 | — |
| CSG SYS INTL INCCOM · CUSIP 126349109 | — | $44.9m | 0.00% | 561,671 | — |
| ONESTREAM INCCL A · CUSIP 68278B107 | — | $39.6m | 0.00% | 1,651,031 | — |
| CANTALOUPE INCCOM · CUSIP 138103106 | — | $38.8m | 0.00% | 3,589,508 | — |
| TASEKO MINES LTDCOM · CUSIP 876511106 | — | $38.2m | 0.00% | 5,921,244 | — |
| PROASSURANCE CORPCOM · CUSIP 74267C106 | — | $35.6m | 0.00% | 1,438,224 | — |
| ENVIRI CORPCOM · CUSIP 415864107 | — | $25.7m | 0.00% | 1,307,663 | — |
| CLEARWAY ENERGY INCCL A · CUSIP 18539C105 | — | $23.1m | 0.00% | 590,337 | — |
| BITFARMS LTDCOM · CUSIP 09173B107 | — | $20.9m | 0.00% | 10,710,324 | — |
期权切片Options slice 0
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 |
|---|---|---|---|---|---|
| 无可展示记录No records to display | |||||
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 | 2.7 / 10 | 27% | |
| 高确信度可识别性Conviction identifiability | 1.7 / 15 | 11% | |
| 延续性 / 换手Persistence / turnover | 9.7 / 10 | 97% | |
| 申报时滞Filing lag | 0.3 / 10 | 3% | |
| 不可见风险Opacity risk | 8.9 / 10 | 89% | |
| 独立共识Independent consensus | 5.0 / 5 | 100% |
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.