<p>Element Pointe Advisors LLC 在最近向证券交易委员会提交的 13F 文件中表示，在第二季度减少了其在微软公司（NASDAQ:MSFT - 免费报告）股票中的持仓，减少幅度为 22.3%。该公司在此期间出售了 1,253 股后，持有 4,356 股这家软件巨头的股票。微软大约占 Element Pointe Advisors LLC 投资组合的 0.5%，是其第 21 大持仓。Element Pointe Advisors LLC 在微软的持股在最近的报告期末价值为 2,166,000 美元。</p>
<ul>
<li>甲骨文股票遭重创：其人工智能管道为何可能推动 2026 年的反弹</li>
</ul>
<p>其他几家机构投资者也增加或减少了对该公司的持股。Longfellow Investment Management Co. LLC 在第二季度将其在微软的持股增加了 51.3%。Longfellow Investment Management Co. LLC 目前持有 59 股这家软件巨头的股票，价值 29,000 美元，此前在上个季度又增持了 20 股。Bulwark Capital Corp 在第二季度购买了微软的新股份，估计价值约为 32,000 美元。Westend Capital Management LLC 在第二季度将其在微软的持仓增加了 386.7%。Westend Capital Management LLC 目前持有 73 股这家软件巨头的股票，价值 36,000 美元，此前在上个季度又购买了 58 股。LSV Asset Management 在第四季度获得了微软的新持仓，价值约为 44,000 美元。最后，伊利诺伊大学基金会在第二季度购买了微软的新持仓，估计价值约为 50,000 美元。目前，71.13% 的股票由机构投资者和对冲基金持有。</p>
<h2>分析师评级升级与降级</h2>
<p>多位分析师对该股票发表了看法。DA Davidson 在 12 月 4 日的研究报告中重申了对微软的 &#34;买入&#34; 评级，并设定了 650.00 美元的目标价。Wolfe Research 在 10 月 28 日的研究报告中设定了微软的 675.00 美元价格目标，并给予该股票 &#34;跑赢大盘&#34; 的评级。Piper Sandler 在 10 月 30 日的研究报告中重申了 &#34;增持&#34; 评级，并对微软设定了 650.00 美元的目标价。Guggenheim 在 11 月 19 日的报告中设定了微软的 675.00 美元价格目标。最后，Sanford C. Bernstein 在 10 月 30 日的研究报告中将微软的价格目标从 637.00 美元上调至 645.00 美元，并给予公司 &#34;跑赢大盘&#34; 的评级。两位分析师对该股票给予了强烈买入评级，三十七位分析师给予了买入评级，四位分析师给予了持有评级。根据 MarketBeat 的数据，微软的平均评级为 &#34;适度买入&#34;，共识价格目标为 632.34 美元。</p>
<ul>
<li>沃尔玛的纳斯达克转型可能会改变 WMT 股票的一切</li>
</ul>
<p><strong>获取我们对微软的最新股票分析</strong></p>
<h2>微软的内部活动</h2>
<p>在相关消息中，执行副总裁 Takeshi Numoto 于 12 月 4 日出售了 2,850 股公司的股票。该股票以平均价格 478.72 美元出售，总交易额为 1,364,352.00 美元。出售后，该执行副总裁持有 55,782 股公司股票，价值 26,703,959.04 美元。这代表其持仓减少了 4.86%。该交易在向证券交易委员会提交的文件中披露，相关文件可在 SEC 网站上获取。此外，首席执行官 Judson Althoff 于 12 月 2 日出售了 12,750 股微软股票。该股票以平均价格 491.52 美元出售，总价值为 6,266,880.00 美元。完成出售后，首席执行官持有 129,349 股公司股票，价值约为 63,577,620.48 美元。这笔交易使其持有的股票减少了 8.97%。该交易的 SEC 文件提供了更多信息。在过去 90 天内，内部人士共出售了价值 27,598,872 美元的 54,100 股公司股票。公司内部人士持有 0.03% 的公司股票。</p>
<h2>微软股票下跌 1.0%</h2>
<ul>
<li>办公套件价格上涨：微软的大胆举措伴随风险</li>
</ul>
<p>微软股票周一开盘价为 478.53 美元。该公司的市值为 3.56 万亿美元，市盈率为 34.03，PEG 比率为 1.79，贝塔值为 1.07。微软公司 52 周低点为 344.79 美元，52 周高点为 555.45 美元。该公司的债务与股本比率为 0.10，速动比率为 1.39，流动比率为 1.40。该公司的 50 日移动平均价格为 504.05 美元，200 日移动平均价格为 502.65 美元。</p>
<p>微软（NASDAQ:MSFT - 获取免费报告）最近在 10 月 29 日发布了季度财报。这家软件巨头报告该季度每股收益为 4.13 美元，超出市场共识预期的 3.65 美元，超出幅度为 0.48 美元。微软的净利润率为 35.71%，股本回报率为 32.45%。该公司在该季度的收入为 776.7 亿美元，而分析师预期为 754.9 亿美元。在去年同期，该公司每股收益为 3.30 美元。微软该季度的收入较去年同期增长了 18.4%。股票分析师预测微软公司今年将发布 13.08 美元的每股收益。</p>
<h2>微软股息公告</h2>
<p>该公司最近还披露了季度股息，将于 3 月 12 日支付。2 月 19 日的股东将获得 0.91 美元的股息。该股息的除息日期为 2 月 19 日。这代表年化股息为 3.64 美元，股息收益率为 0.8%。微软的股息支付比率（DPR）为 25.89%。</p>
<h2>关于微软</h2>
<p>（免费报告）</p>
<p>微软公司在全球范围内开发和支持软件、服务、设备和解决方案。生产力和商业流程部门提供办公软件、Exchange、SharePoint、Microsoft Teams、Office 365 安全与合规、Microsoft Viva 和 Microsoft 365 Copilot；以及办公消费者服务，如 Microsoft 365 消费者订阅、Office 本地授权和其他办公服务。</p>
<h2>另见</h2>
<ul>
<li>五只我们更看好的股票超过微软</li>
<li>什么是空头头寸？如何使用它</li>
<li>Dave &amp; Buster’s 的反转在双底突破后进入游戏</li>
<li>低市盈率成长股：解锁投资机会</li>
<li>3 只在 10 年期国债利率上升时值得购买的金融股</li>
<li>投资旅游股票的好处</li>
<li>迪士尼的 10 亿美元交易将其魔力带入 OpenAI</li>
</ul>
<p><strong>想看看其他对微软持有的对冲基金吗？</strong> 请访问 HoldingsChannel.com，获取微软公司（NASDAQ:MSFT - 免费报告）的最新 13F 文件和内部交易。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9TVNGVA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9TVNGVA"/></p>
<p><em>此即时新闻提醒由叙事科学技术和 MarketBeat 的金融数据生成，以便为读者提供最快的报道和公正的覆盖。请将任何问题或意见发送至 contact@marketbeat.com。</em></p>
<h2>你现在应该投资 1,000 美元在微软吗？</h2>
<p>在考虑微软之前，你需要听听这个。</p>
<p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只顶级分析师悄悄向客户推荐的股票，建议在更广泛的市场注意到之前购买……而微软并不在名单上。</p>
<p>虽然微软目前在分析师中获得了适度买入评级，但顶级分析师认为这五只股票更值得购买。</p>
<p>在这里查看这五只股票</p>

微软

2 倍做多 MSFT ETF - GraniteShares

MSFO

微软每日 1 倍做空 ETF - Direxion

微软每日 2 倍做多 ETF - Direxion

MSFX

MSFY

<p>Element Pointe Advisors LLC 在第二季度减少了其微软持股 22.3%，目前持有 4,356 股，价值 217 万美元。其他投资者也调整了他们的持股，分析师维持 “适度买入” 评级，目标价共识为 632.34 美元。内部人士最近出售了价值 2760 万美元的股票。微软的股票开盘价为 478.53 美元，市值为 3.56 万亿美元</p>

<p>Element Pointe Advisors LLC lessened its position in shares of Microsoft Corporation (NASDAQ:MSFT - Free Report) by 22.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,356 shares of the software giant's stock after selling 1,253 shares during the period. Microsoft makes up about 0.5% of Element Pointe Advisors LLC's portfolio, making the stock its 21st largest holding. Element Pointe Advisors LLC's holdings in Microsoft were worth $2,166,000 at the end of the most recent reporting period.</p>
<div class="lb-trans"><p>Element Pointe Advisors LLC 在最近向证券交易委员会提交的 13F 文件中表示，在第二季度减少了其在微软公司（NASDAQ:MSFT - 免费报告）股票中的持仓，减少幅度为 22.3%。该公司在此期间出售了 1,253 股后，持有 4,356 股这家软件巨头的股票。微软大约占 Element Pointe Advisors LLC 投资组合的 0.5%，是其第 21 大持仓。Element Pointe Advisors LLC 在微软的持股在最近的报告期末价值为 2,166,000 美元。</p>
</div><ul>
<li>Oracle Stock Hit Hard: Why Its AI Pipeline Could Drive a 2026 Rally</li>
</ul>
<div class="lb-trans"><ul>
<li>甲骨文股票遭重创：其人工智能管道为何可能推动 2026 年的反弹</li>
</ul>
</div><p>Several other institutional investors have also added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC raised its stake in Microsoft by 51.3% during the second quarter. Longfellow Investment Management Co. LLC now owns 59 shares of the software giant's stock worth $29,000 after acquiring an additional 20 shares in the last quarter. Bulwark Capital Corp bought a new stake in shares of Microsoft during the 2nd quarter valued at approximately $32,000. Westend Capital Management LLC increased its position in Microsoft by 386.7% during the 2nd quarter. Westend Capital Management LLC now owns 73 shares of the software giant's stock worth $36,000 after purchasing an additional 58 shares in the last quarter. LSV Asset Management acquired a new position in Microsoft during the 4th quarter worth approximately $44,000. Finally, University of Illinois Foundation bought a new position in Microsoft in the 2nd quarter valued at approximately $50,000. 71.13% of the stock is currently owned by institutional investors and hedge funds.</p>
<div class="lb-trans"><p>其他几家机构投资者也增加或减少了对该公司的持股。Longfellow Investment Management Co. LLC 在第二季度将其在微软的持股增加了 51.3%。Longfellow Investment Management Co. LLC 目前持有 59 股这家软件巨头的股票，价值 29,000 美元，此前在上个季度又增持了 20 股。Bulwark Capital Corp 在第二季度购买了微软的新股份，估计价值约为 32,000 美元。Westend Capital Management LLC 在第二季度将其在微软的持仓增加了 386.7%。Westend Capital Management LLC 目前持有 73 股这家软件巨头的股票，价值 36,000 美元，此前在上个季度又购买了 58 股。LSV Asset Management 在第四季度获得了微软的新持仓，价值约为 44,000 美元。最后，伊利诺伊大学基金会在第二季度购买了微软的新持仓，估计价值约为 50,000 美元。目前，71.13% 的股票由机构投资者和对冲基金持有。</p>
</div><h2>Analyst Upgrades and Downgrades</h2>
<div class="lb-trans"><h2>分析师评级升级与降级</h2>
</div><p>A number of analysts have weighed in on the stock. DA Davidson reaffirmed a &#34;buy&#34; rating and set a $650.00 target price on shares of Microsoft in a research note on Thursday, December 4th. Wolfe Research set a $675.00 price objective on Microsoft and gave the stock an &#34;outperform&#34; rating in a research report on Tuesday, October 28th. Piper Sandler reiterated an &#34;overweight&#34; rating and issued a $650.00 target price on shares of Microsoft in a research report on Thursday, October 30th. Guggenheim set a $675.00 price target on Microsoft in a report on Wednesday, November 19th. Finally, Sanford C. Bernstein upped their price objective on Microsoft from $637.00 to $645.00 and gave the company an &#34;outperform&#34; rating in a research note on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Microsoft has an average rating of &#34;Moderate Buy&#34; and a consensus price target of $632.34.</p>
<div class="lb-trans"><p>多位分析师对该股票发表了看法。DA Davidson 在 12 月 4 日的研究报告中重申了对微软的 &#34;买入&#34; 评级，并设定了 650.00 美元的目标价。Wolfe Research 在 10 月 28 日的研究报告中设定了微软的 675.00 美元价格目标，并给予该股票 &#34;跑赢大盘&#34; 的评级。Piper Sandler 在 10 月 30 日的研究报告中重申了 &#34;增持&#34; 评级，并对微软设定了 650.00 美元的目标价。Guggenheim 在 11 月 19 日的报告中设定了微软的 675.00 美元价格目标。最后，Sanford C. Bernstein 在 10 月 30 日的研究报告中将微软的价格目标从 637.00 美元上调至 645.00 美元，并给予公司 &#34;跑赢大盘&#34; 的评级。两位分析师对该股票给予了强烈买入评级，三十七位分析师给予了买入评级，四位分析师给予了持有评级。根据 MarketBeat 的数据，微软的平均评级为 &#34;适度买入&#34;，共识价格目标为 632.34 美元。</p>
</div><ul>
<li>Walmart’s NASDAQ Switch Could Change Everything for WMT Stock</li>
</ul>
<div class="lb-trans"><ul>
<li>沃尔玛的纳斯达克转型可能会改变 WMT 股票的一切</li>
</ul>
</div><p><strong>Get Our Latest Stock Analysis on Microsoft</strong></p>
<div class="lb-trans"><p><strong>获取我们对微软的最新股票分析</strong></p>
</div><h2>Insider Activity at Microsoft</h2>
<div class="lb-trans"><h2>微软的内部活动</h2>
</div><p>In related news, EVP Takeshi Numoto sold 2,850 shares of the company's stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $478.72, for a total transaction of $1,364,352.00. Following the sale, the executive vice president owned 55,782 shares in the company, valued at $26,703,959.04. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities &amp; Exchange Commission, which is available at the SEC website. Also, CEO Judson Althoff sold 12,750 shares of Microsoft stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $491.52, for a total value of $6,266,880.00. Following the completion of the sale, the chief executive officer owned 129,349 shares of the company's stock, valued at approximately $63,577,620.48. The trade was a 8.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,100 shares of company stock worth $27,598,872 in the last 90 days. Corporate insiders own 0.03% of the company's stock.</p>
<div class="lb-trans"><p>在相关消息中，执行副总裁 Takeshi Numoto 于 12 月 4 日出售了 2,850 股公司的股票。该股票以平均价格 478.72 美元出售，总交易额为 1,364,352.00 美元。出售后，该执行副总裁持有 55,782 股公司股票，价值 26,703,959.04 美元。这代表其持仓减少了 4.86%。该交易在向证券交易委员会提交的文件中披露，相关文件可在 SEC 网站上获取。此外，首席执行官 Judson Althoff 于 12 月 2 日出售了 12,750 股微软股票。该股票以平均价格 491.52 美元出售，总价值为 6,266,880.00 美元。完成出售后，首席执行官持有 129,349 股公司股票，价值约为 63,577,620.48 美元。这笔交易使其持有的股票减少了 8.97%。该交易的 SEC 文件提供了更多信息。在过去 90 天内，内部人士共出售了价值 27,598,872 美元的 54,100 股公司股票。公司内部人士持有 0.03% 的公司股票。</p>
</div><h2>Microsoft Stock Down 1.0%</h2>
<div class="lb-trans"><h2>微软股票下跌 1.0%</h2>
</div><ul>
<li>Office Suite Gets Pricier: Microsoft’s Bold Move Comes With Risk</li>
</ul>
<div class="lb-trans"><ul>
<li>办公套件价格上涨：微软的大胆举措伴随风险</li>
</ul>
</div><p>Microsoft stock opened at $478.53 on Monday. The firm has a market cap of $3.56 trillion, a price-to-earnings ratio of 34.03, a PEG ratio of 1.79 and a beta of 1.07. Microsoft Corporation has a 52-week low of $344.79 and a 52-week high of $555.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 1.40. The firm has a 50 day moving average price of $504.05 and a two-hundred day moving average price of $502.65.</p>
<div class="lb-trans"><p>微软股票周一开盘价为 478.53 美元。该公司的市值为 3.56 万亿美元，市盈率为 34.03，PEG 比率为 1.79，贝塔值为 1.07。微软公司 52 周低点为 344.79 美元，52 周高点为 555.45 美元。该公司的债务与股本比率为 0.10，速动比率为 1.39，流动比率为 1.40。该公司的 50 日移动平均价格为 504.05 美元，200 日移动平均价格为 502.65 美元。</p>
</div><p>Microsoft (NASDAQ:MSFT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The software giant reported $4.13 earnings per share for the quarter, topping the consensus estimate of $3.65 by $0.48. Microsoft had a net margin of 35.71% and a return on equity of 32.45%. The company had revenue of $77.67 billion during the quarter, compared to analysts' expectations of $75.49 billion. During the same period in the prior year, the company posted $3.30 earnings per share. Microsoft's revenue for the quarter was up 18.4% compared to the same quarter last year. Equities analysts predict that Microsoft Corporation will post 13.08 EPS for the current year.</p>
<div class="lb-trans"><p>微软（NASDAQ:MSFT - 获取免费报告）最近在 10 月 29 日发布了季度财报。这家软件巨头报告该季度每股收益为 4.13 美元，超出市场共识预期的 3.65 美元，超出幅度为 0.48 美元。微软的净利润率为 35.71%，股本回报率为 32.45%。该公司在该季度的收入为 776.7 亿美元，而分析师预期为 754.9 亿美元。在去年同期，该公司每股收益为 3.30 美元。微软该季度的收入较去年同期增长了 18.4%。股票分析师预测微软公司今年将发布 13.08 美元的每股收益。</p>
</div><h2>Microsoft Dividend Announcement</h2>
<div class="lb-trans"><h2>微软股息公告</h2>
</div><p>The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 19th will be given a $0.91 dividend. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 0.8%. Microsoft's dividend payout ratio (DPR) is 25.89%.</p>
<div class="lb-trans"><p>该公司最近还披露了季度股息，将于 3 月 12 日支付。2 月 19 日的股东将获得 0.91 美元的股息。该股息的除息日期为 2 月 19 日。这代表年化股息为 3.64 美元，股息收益率为 0.8%。微软的股息支付比率（DPR）为 25.89%。</p>
</div><h2>About Microsoft</h2>
<div class="lb-trans"><h2>关于微软</h2>
</div><p>(Free Report)</p>
<div class="lb-trans"><p>（免费报告）</p>
</div><p>Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.</p>
<div class="lb-trans"><p>微软公司在全球范围内开发和支持软件、服务、设备和解决方案。生产力和商业流程部门提供办公软件、Exchange、SharePoint、Microsoft Teams、Office 365 安全与合规、Microsoft Viva 和 Microsoft 365 Copilot；以及办公消费者服务，如 Microsoft 365 消费者订阅、Office 本地授权和其他办公服务。</p>
</div><h2>See Also</h2>
<div class="lb-trans"><h2>另见</h2>
</div><ul>
<li>Five stocks we like better than Microsoft</li>
<li>What is Short Interest? How to Use It</li>
<li>Dave &amp; Buster’s Reversal Is in PLAY After Double-Bottom Breakout</li>
<li>Low PE Growth Stocks: Unlocking Investment Opportunities</li>
<li>3 Finance Stocks to Buy on Rising 10-Year Treasury Rates</li>
<li>Investing in Travel Stocks Benefits</li>
<li>Disney's $1 Billion Deal Brings Its Magic to OpenAI</li>
</ul>
<div class="lb-trans"><ul>
<li>五只我们更看好的股票超过微软</li>
<li>什么是空头头寸？如何使用它</li>
<li>Dave &amp; Buster’s 的反转在双底突破后进入游戏</li>
<li>低市盈率成长股：解锁投资机会</li>
<li>3 只在 10 年期国债利率上升时值得购买的金融股</li>
<li>投资旅游股票的好处</li>
<li>迪士尼的 10 亿美元交易将其魔力带入 OpenAI</li>
</ul>
</div><p><strong>Want to see what other hedge funds are holding MSFT?</strong> Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Corporation (NASDAQ:MSFT - Free Report).</p>
<div class="lb-trans"><p><strong>想看看其他对微软持有的对冲基金吗？</strong> 请访问 HoldingsChannel.com，获取微软公司（NASDAQ:MSFT - 免费报告）的最新 13F 文件和内部交易。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9TVNGVA" alt="" original-src="https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NASDAQ&amp;Symbol=MSFT"/></p>
<p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p>
<div class="lb-trans"><p><em>此即时新闻提醒由叙事科学技术和 MarketBeat 的金融数据生成，以便为读者提供最快的报道和公正的覆盖。请将任何问题或意见发送至 contact@marketbeat.com。</em></p>
</div><h2>Should You Invest $1,000 in Microsoft Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1,000 美元在微软吗？</h2>
</div><p>Before you consider Microsoft, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑微软之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microsoft wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只顶级分析师悄悄向客户推荐的股票，建议在更广泛的市场注意到之前购买……而微软并不在名单上。</p>
</div><p>While Microsoft currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然微软目前在分析师中获得了适度买入评级，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>在这里查看这五只股票</p>
</div>

Element Pointe Advisors LLC Has $2.17 Million Position in Microsoft Corporation $MSFT

- Element Pointe Advisors LLC 在第二季度减少了 22.3% 的微软股份。  
- 该公司持有 4,356 股微软股票，价值约 2,166,000 美元。  
- 71.13% 的微软股票目前由机构投资者和对冲基金持有。  

Element Pointe Advisors LLC 在微软公司$MSFT 持有 217 万美元的头寸