13F 申报指南13F 概念全攻略
什么是 SEC Form 13F 申报？美股机构大户持股全攻略
完整解读 Form 13F 申报规范、1 亿美元门槛与 45 天延迟申报机制，学会如何追踪顶级对冲基金与机构法人持仓动向。
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CIK: 0001145020
申报总市值
US$104.5亿
US$104.5亿
176 檔
28.1%
根据最新整理的 13F 季度数据集，Thornburg Investment Management Inc 于 Q3 2025 结束时的管理资产规模为 US$104.5亿。该机构在本季度申报了 176 档美股持仓，呈现出该时期的主要投资地图。
在 Q3 2025，Thornburg Investment Management Inc 展现出较为审慎的避险与获利了结姿态。本季共减仓 98 个仓位并完全清仓 27 档持股，调降曝光的仓位数量高于加仓动作。
在资产配置集中度方面，Thornburg Investment Management Inc 的前 5 大核心持股（包含 C, T, AVGO 等）合计占整体申报市值的 28.1%，反映机构在主要关键仓位上的权重分布。
本季最大新建仓标的
TDG
市值: US$6278.5万
本季最大获利了结 / 清仓标的
STVN
前期市值: US$2.3亿
| # | 代码 | 标的名称 | 资产子类别 | 占比 | 占比变动 | 持仓量变化 | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | C | Citigroup Inc | 股票-金融 | 10.62% | +0.70% | -0.55% | |
| 2 | T | At&t Inc | 股票-通信服务 | 10.41% | -2.21% | +2.81% | |
| 3 | AVGO | Broadcom Inc | 股票-科技 | 9.49% | -0.08% | -16.66% | |
| 4 | CME | Cme Group Inc | 股票-金融 | 3.92% | -1.12% | +7.74% | |
| 5 | MRK | Merck & Co. Inc. | 股票-医疗保健 | 3.85% | — | -25.56% | |
| 6 | EQH | Equitable Holdings Inc | 股票-金融 | 3.22% | +0.24% | +0.25% | |
| 7 | TRP | Tc Energy CORP | 股票-能源 | 2.86% | -0.05% | +4.32% | |
| 8 | HD | Home Depot Inc | 股票-周期性消费 | 2.73% | -0.21% | +0.62% | |
| 9 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 2.42% | +1.03% | -6.23% | |
| 10 | MDT | Medtronic plc | 股票-医疗保健 | 2.40% | +0.07% | +0.39% | |
| 11 | ENB | Enbridge Inc | 股票-能源 | 2.36% | -0.15% | — | |
| 12 | CSCO | Cisco Systems Inc | 股票-科技 | 2.33% | +0.70% | +6.69% | |
| 13 | CP | Canadian Pacific Kansas City | 股票-工业 | 2.23% | +0.01% | +12.24% | |
| 14 | LIN | Linde plc | 股票-原材料 | 1.71% | -0.06% | +6.00% | |
| 15 | GOOGL | Alphabet Inc-cl A | 股票-通信服务 | 1.63% | +0.40% | -3.48% | |
| 16 | RF | Regions Financial CORP | 股票-金融 | 1.59% | +0.18% | +0.62% | |
| 17 | ALC | Alcon Inc. | 股票-医疗保健 | 1.40% | -0.28% | -11.15% | |
| 18 | META | Meta Platforms Inc-class A | 股票-通信服务 | 1.38% | -0.05% | -6.91% | |
| 19 | BABA | Alibaba Group Holding-sp Adr | 股票-周期性消费 | 1.29% | -0.22% | +14.30% | |
| 20 | ✓ | Ferrovial Se | 股票-其他 | 1.29% | -0.04% | +0.28% | |
| 21 | ABBV | Abbvie Inc | 股票-医疗保健 | 1.21% | +0.16% | +25.50% | |
| 22 | BZ | Kanzhun LTD - Adr | 股票-其他 | 1.17% | -0.20% | -17.42% | |
| 23 | FCX | Freeport-mcmoran Inc | 股票-原材料 | 0.95% | +0.26% | -36.39% | |
| 24 | SCHW | Schwab (charles) CORP | 股票-金融 | 0.94% | +0.24% | -7.11% | |
| 25 | MELI | Mercadolibre Inc | 股票-周期性消费 | 0.91% | -0.08% | -2.51% | |
| 26 | SLRC | Slr Investment CORP | 股票-其他 | 0.87% | -0.13% | — | |
| 27 | CIM | Chimera Investment CORP | 股票-其他 | 0.87% | -0.01% | +1.43% | |
| 28 | TDG | Transdigm Group Inc | 股票-工业 | 0.82% | -0.33% | — | |
| 29 | MA | Mastercard Inc - A | 股票-金融 | 0.77% | +0.10% | -4.27% | |
| 30 | SOBO | South Bow CORP | 股票-其他 | 0.74% | — | +20.61% | |
| 31 | SE | Sea Ltd-adr | 股票-通信服务 | 0.72% | +0.01% | -2.90% | |
| 32 | LYB | LyondellBasell Industries N.V. | 股票-原材料 | 0.66% | -0.78% | -47.81% | |
| 33 | RACE | Ferrari N.V. | 股票-周期性消费 | 0.56% | -0.06% | +9.68% | |
| 34 | CACI | Caci International Inc -cl A | 股票-科技 | 0.56% | -0.10% | +0.22% | |
| 35 | TJX | Tjx Companies Inc | 股票-周期性消费 | 0.52% | +0.01% | -13.69% | |
| 36 | AZNN | Astrazeneca Plc-spons Adr | 股票-其他 | 0.51% | — | -4.61% | |
| 37 | COF | Capital One Financial CORP | 股票-金融 | 0.51% | +0.12% | -3.33% | |
| 38 | LHX | L3harris Technologies Inc | 股票-工业 | 0.51% | -0.02% | -0.07% | |
| 39 | MFIC | Midcap Financial Investment | 股票-其他 | 0.49% | -0.07% | +6.81% | |
| 40 | PFE | Pfizer Inc | 股票-医疗保健 | 0.48% | -0.20% | -86.14% | |
| 41 | MRX | Marex Group plc | 股票-其他 | 0.46% | -0.03% | +27.55% | |
| 42 | NVO | Novo-nordisk A/s-spons Adr | 股票-医疗保健 | 0.39% | — | -33.83% | |
| 43 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.38% | — | -0.35% | |
| 44 | ELME | Elme Communities | 股票-其他 | 0.35% | — | -20.25% | |
| 45 | BKNG | Booking Holdings Inc | 股票-周期性消费 | 0.34% | +0.05% | -10.23% | |
| 46 | ANET | Arista Networks Inc | 股票-科技 | 0.31% | -0.02% | +13.38% | |
| 47 | CWST | Casella Waste Systems Inc-a | 股票-工业 | 0.31% | -0.17% | EXIT | |
| 48 | VRT | Vertiv Holdings Co-a | 股票-工业 | 0.28% | -0.24% | -19.13% | |
| 49 | SHOP | Shopify Inc - Class A | 股票-科技 | 0.27% | -0.02% | -18.27% | |
| 50 | ADBE | Adobe Inc | 股票-科技 | 0.27% | +0.09% | — |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | C | Citigroup Inc | +2.8% | -0.55% | 加仓 |
| 2 | AVGO | Broadcom Inc | +2.5% | -16.66% | 减仓 |
| 3 | CP | Canadian Pacific Kansas City | +0.7% | +12.24% | 加仓 |
| 4 | TSM | Taiwan Semiconductor-sp Adr | +0.6% | -6.23% | 减仓 |
| 5 | GOOGL | Alphabet Inc-cl A | +0.6% | -3.48% | 加仓 |
| 6 | BZ | Kanzhun LTD - Adr | +0.5% | -17.42% | 加仓 |
| 7 | SOBO | South Bow CORP | +0.5% | +20.61% | 加仓 |
| 8 | BABA | Alibaba Group Holding-sp Adr | +0.4% | +14.30% | 加仓 |
| 9 | TRP | Tc Energy CORP | +0.3% | +4.32% | 加仓 |
| 10 | ABBV | Abbvie Inc | +0.3% | +25.50% | 加仓 |
| 11 | CSCO | Cisco Systems Inc | +0.2% | +6.69% | 加仓 |
| 12 | ✓ | Ferrovial Se | +0.2% | +0.28% | 加仓 |
| 13 | RF | Regions Financial CORP | +0.2% | +0.62% | 加仓 |
| 14 | ENB | Enbridge Inc | +0.1% | — | 不变 |
| 15 | LHX | L3harris Technologies Inc | +0.1% | -0.07% | 减仓 |
| 16 | HD | Home Depot Inc | +0.1% | +0.62% | 加仓 |
| 17 | CACI | Caci International Inc -cl A | +0.1% | +0.22% | 减仓 |
| 18 | MRX | Marex Group plc | +0.1% | +27.55% | 加仓 |
| 19 | CME | Cme Group Inc | +0.1% | +7.74% | 加仓 |
| 20 | P | Everpure Inc-a | +0.1% | -6.39% | 减仓 |
| 21 | CMCSA 2 10-15-29债券 | Comcast Holdings CORP | +0.1% | — | 加仓 |
| 22 | TLN | Talen Energy CORP | +0.1% | -11.05% | 减仓 |
| 23 | SHOP | Shopify Inc - Class A | +0.1% | -18.27% | 减仓 |
| 24 | ITT | Itt Inc | +0.1% | +27.71% | 加仓 |
| 25 | BAP | Credicorp Ltd. | +0.1% | -9.94% | 加仓 |
| 26 | TBBB | BBB Foods Inc. | +0.1% | -5.15% | 加仓 |
| 27 | VRT | Vertiv Holdings Co-a | +0.1% | -19.13% | 减仓 |
| 28 | SE | Sea Ltd-adr | +0.1% | -2.90% | 减仓 |
| 29 | RACE | Ferrari N.V. | +0.1% | +9.68% | 加仓 |
| 30 | AGYS | Agilysys Inc | +0.1% | -3.13% | 减仓 |
| 31 | MYRG | Myr Group Inc/delaware | +0.1% | -15.23% | 减仓 |
| 32 | ING | Ing Groep N.v.-sponsored Adr | +0.1% | +2.16% | 加仓 |
| 33 | TCOM | Trip.com Group Ltd-adr | +0.1% | +36.53% | 加仓 |
| 34 | NU | Nu Holdings Ltd. | 0% | -13.46% | 减仓 |
| 35 | COHR | Coherent CORP | 0% | -10.82% | 减仓 |
| 36 | THC | Tenet Healthcare CORP | 0% | -3.38% | 减仓 |
| 37 | CRDO | Credo Technology Group Holding Ltd | 0% | -35.57% | 减仓 |
| 38 | AGX | Argan Inc | 0% | -3.33% | 减仓 |
| 39 | COF | Capital One Financial CORP | 0% | -3.33% | 减仓 |
| 40 | ASML | ASML Holding N.V. | 0% | -9.10% | 减仓 |
| 41 | MUFG | Mitsubishi Ufj Finl-spon Adr | 0% | +2.36% | 加仓 |
| 42 | STKL | Sunopta Inc | 0% | +12.39% | 加仓 |
| 43 | DTM | Dt Midstream Inc | 0% | -0.42% | 加仓 |
| 44 | RMBS | Rambus Inc | 0% | -20.93% | 减仓 |
| 45 | EFA | Ishares Msci Eafe ETF | 0% | +46.86% | 加仓 |
| 46 | LIN | Linde plc | 0% | +6.00% | 加仓 |
| 47 | META | Meta Platforms Inc-class A | 0% | -6.91% | 减仓 |
| 48 | MELI | Mercadolibre Inc | 0% | -2.51% | 减仓 |
| 49 | SONY | Sony Group CORP - Sp Adr | 0% | +1.49% | 加仓 |
| 50 | AMD | Advanced Micro Devices | 0% | -2.18% | 减仓 |
根据 SEC 官方 Form 13F 申报备案，Thornburg Investment Management Inc 在 Q3 2025 季度的美股持仓总市值约为 US$104.5亿，共申报了 176 个公开持股仓位。
在 Q3 2025 季度，Thornburg Investment Management Inc 按市值排列的前三大核心持股分别为：C (10.6%)、T (10.4%)、AVGO (9.5%)。其中最大持股仓位 C 占据整体投资组合约 10.6% 的权重。
在 Q3 2025 季度中，Thornburg Investment Management Inc 共进行了 191 项持仓异动，包含新建仓 18 个仓位、加仓 48 个仓位、减仓 98 个仓位以及清仓 27 个仓位。 其中最大新建仓标的为 TDG。 本季清仓仓位包含 STVN。
本页面所有持股数据均直接同步自美国证券交易委员会（SEC）EDGAR 官方系统之 13F-HR / 13F-HR/A 季度申报文件。AlphaSMO 通过机器解析 CUSIP 与个股对照，提供 100% 精准对齐的历史时序数据集，并支持 Schema.org 结构化数据格式。
精选 AlphaSMO 大户持股与内部人交易深度分析，提升投资决策胜率
完整解读 Form 13F 申报规范、1 亿美元门槛与 45 天延迟申报机制，学会如何追踪顶级对冲基金与机构法人持仓动向。
深入剖析 5% 股权申报门槛、13D 与 13G 之差异，以及最新 SEC 申报时程规范，洞察机构法人的激进投资动向。