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。
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CIK: 0001454937
申報總市值
US$1.4億
US$1.4億
44 檔
78.7%
在 Q4 2025 的 13F 官方備案中，AEGON USA Investment Management, LLC 管理的美股投資組合規模來到 US$1.4億，整體持股檔數為 44 檔。
從 Q4 2025 申報觀察，AEGON USA Investment Management, LLC 採取防禦導向的調倉策略，本季減碼 6 檔個股並出清 3 檔部位，顯示機構在該時期進行風險控制與流動性回收。
在資產配置集中度方面，AEGON USA Investment Management, LLC 的前 5 大核心持股（包含 VTI, WW, WFC 7.5 PERP L 等）合計佔整體申報市值的 78.7%，反映機構在主要關鍵部位上的權重分佈。
| # | 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 | VTI | Vanguard Total Stock Mkt ETF | ETF-其他 | 67.38% | +2.53% | -1.99% | |
| 2 | WW | Ww International Inc-new | 股票-其他 | 3.76% | +0.44% | -37.97% | |
| 3 | WFC 7.5 PERP L債券 | Wells Fargo & Company | 債券 | 2.46% | -0.20% | — | |
| 4 | BND | Vanguard Total Bond Market | ETF-其他 | 2.15% | -0.24% | -0.96% | |
| 5 | BAC 7.25 PERP L債券 | Bank Of America CORP | 債券 | 1.99% | -0.08% | — | |
| 6 | KKR 6.25 03-01-28 D債券 | Kkr & Co Inc | 債券 | 1.37% | -0.12% | +38.52% | |
| 7 | F 0 03-15-26債券 | Ford Motor Company | 債券 | 1.36% | — | — | |
| 8 | UBER 0.875 12-01-28 2028債券 | Uber Technologies Inc | 債券 | 1.29% | -0.12% | — | |
| 9 | SRLN | Ss Blackstone Sr Loan ETF | ETF-其他 | 1.23% | -0.07% | — | |
| 10 | APO 6.75 07-31-26債券 | Apollo Global Management | 債券 | 1.21% | -0.06% | — | |
| 11 | GPN 1.5 03-01-31債券 | Global Payments Inc | 債券 | 1.14% | -0.08% | — | |
| 12 | DUK 4.125 04-15-26債券 | Duke Energy CORP | 債券 | 1.04% | -1.24% | EXIT | |
| 13 | BKLN | Invesco Senior Loan ETF | ETF-其他 | 0.94% | +0.16% | — | |
| 14 | CNP 4.25 08-15-26債券 | Centerpoint Energy Inc | 債券 | 0.87% | -0.08% | — | |
| 15 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | 債券 | 0.87% | -0.12% | — | |
| 16 | ARES 6.75 10-01-27 B債券 | Ares Management CORP | 債券 | 0.81% | -0.05% | — | |
| 17 | EVRG 4.5 12-15-27債券 | Evergy Inc | 債券 | 0.80% | -0.03% | — | |
| 18 | VTR 3.75 06-01-26債券 | Ventas Realty LP | 債券 | 0.76% | -0.89% | EXIT | |
| 19 | EXPE 0 02-15-26債券 | Expedia Group Inc | 債券 | 0.70% | — | — | |
| 20 | CMS 3.375 05-01-28債券 | Cms Energy CORP | 債券 | 0.68% | -0.08% | — | |
| 21 | SO 4.5 06-15-27債券 | Southern Co | 債券 | 0.57% | -0.06% | — | |
| 22 | VGSH | Vanguard Short-term Treasury | ETF-政府公債 | 0.56% | -0.06% | — | |
| 23 | LNT 3.875 03-15-26債券 | Alliant Energy CORP | 債券 | 0.55% | — | — | |
| 24 | NEE 3 03-01-27債券 | Nextera Energy Capital | 債券 | 0.54% | -0.09% | — | |
| 25 | WEC 4.375 06-01-29債券 | Wec Energy Group Inc | 債券 | 0.41% | -0.04% | — | |
| 26 | WEC 4.375 06-01-27債券 | Wec Energy Group Inc | 債券 | 0.40% | -0.04% | — | |
| 27 | HFRO | Highland Opport & Income | 股票-其他 | 0.37% | -0.11% | -16.74% | |
| 28 | AWK 3.625 06-15-26債券 | American Water Capital C | 債券 | 0.35% | -0.39% | EXIT | |
| 29 | MTH 1.75 05-15-28債券 | Meritage Homes CORP | 債券 | 0.33% | -0.01% | — | |
| 30 | VUG | Vanguard Growth ETF | ETF-其他 | 0.33% | -0.06% | — | |
| 31 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投資等級債 | 0.32% | -0.03% | — | |
| 32 | NEE 7.299 06-01-27債券 | Nextera Energy Inc | 債券 | 0.29% | -0.04% | — | |
| 33 | NVST 1.75 08-15-28債券 | Envista Holdings CORP | 債券 | 0.26% | -0.02% | — | |
| 34 | PNW 4.75 06-15-27債券 | Pinnacle West Capital | 債券 | 0.26% | -0.01% | — | |
| 35 | SPHQ | Invesco S&p 500 Quality ETF | ETF-大型股與成長 | 0.26% | -0.01% | +3.36% | |
| 36 | FCT | First Trust Snr Fl Rt Inc Ii | 股票-其他 | 0.21% | — | — | |
| 37 | XEFRX | Eaton Vance Sr Fltg Rate Tr | 股票-其他 | 0.19% | -0.02% | +63.36% | |
| 38 | HIX | Western Asset High Inc Ii | 股票-其他 | 0.18% | -0.02% | — | |
| 39 | EFT | Eaton Vance Fltng Rt Inc Tr | 股票-其他 | 0.14% | -0.01% | — | |
| 40 | CCO | Clear Channel Outdoor Holdin | 股票-其他 | 0.14% | -0.01% | -63.47% | |
| 41 | IHRT | Iheartmedia Inc - Class A | 股票-其他 | 0.14% | -0.03% | -60.03% | |
| 42 | RXT | Rackspace Technology Inc | 股票-其他 | 0.14% | — | — | |
| 43 | CSWC 5.125 11-15-29債券 | Capital Southwest CORP | 債券 | 0.13% | -0.01% | — | |
| 44 | HYT | Blackrock CORP Hi Yld | 股票-其他 | 0.13% | -0.02% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | VTI | Vanguard Total Stock Mkt ETF | +2.5% | -1.99% | 減碼 |
| 2 | KKR 6.25 03-01-28 D債券 | Kkr & Co Inc | +0.4% | +38.52% | 加碼 |
| 3 | APO 6.75 07-31-26債券 | Apollo Global Management | +0.1% | — | 不變 |
| 4 | EXPE 0 02-15-26債券 | Expedia Group Inc | +0.1% | — | 不變 |
| 5 | VTR 3.75 06-01-26債券 | Ventas Realty LP | +0.1% | — | 不變 |
| 6 | F 0 03-15-26債券 | Ford Motor Company | +0.1% | — | 不變 |
| 7 | XEFRX | Eaton Vance Sr Fltg Rate Tr | +0.1% | +63.36% | 加碼 |
| 8 | BND | Vanguard Total Bond Market | +0.1% | -0.96% | 減碼 |
| 9 | ARES 6.75 10-01-27 B債券 | Ares Management CORP | +0.1% | — | 不變 |
| 10 | WFC 7.5 PERP L債券 | Wells Fargo & Company | 0% | — | 不變 |
| 11 | NEE 3 03-01-27債券 | Nextera Energy Capital | 0% | — | 不變 |
| 12 | BKLN | Invesco Senior Loan ETF | 0% | — | 不變 |
| 13 | BAC 7.25 PERP L債券 | Bank Of America CORP | 0% | — | 不變 |
| 14 | SRLN | Ss Blackstone Sr Loan ETF | 0% | — | 不變 |
| 15 | GPN 1.5 03-01-31債券 | Global Payments Inc | 0% | — | 不變 |
| 16 | SPHQ | Invesco S&p 500 Quality ETF | 0% | +3.36% | 加碼 |
| 17 | CNP 4.25 08-15-26債券 | Centerpoint Energy Inc | 0% | — | 不變 |
| 18 | NEE 7.299 06-01-27債券 | Nextera Energy Inc | 0% | — | 不變 |
| 19 | VUG | Vanguard Growth ETF | 0% | — | 不變 |
| 20 | VGSH | Vanguard Short-term Treasury | 0% | — | 不變 |
| 21 | CMS 3.375 05-01-28債券 | Cms Energy CORP | 0% | — | 不變 |
| 22 | NVST 1.75 08-15-28債券 | Envista Holdings CORP | 0% | — | 不變 |
| 23 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | 0% | — | 不變 |
| 24 | AWK 3.625 06-15-26債券 | American Water Capital C | 0% | — | 不變 |
| 25 | FCT | First Trust Snr Fl Rt Inc Ii | 0% | — | 不變 |
| 26 | CSWC 5.125 11-15-29債券 | Capital Southwest CORP | 0% | — | 不變 |
| 27 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | — | — | 不變 |
| 28 | EVRG 4.5 12-15-27債券 | Evergy Inc | — | — | 不變 |
| 29 | SO 4.5 06-15-27債券 | Southern Co | — | — | 不變 |
| 30 | LNT 3.875 03-15-26債券 | Alliant Energy CORP | — | — | 不變 |
| 31 | MTH 1.75 05-15-28債券 | Meritage Homes CORP | — | — | 不變 |
| 32 | HIX | Western Asset High Inc Ii | — | — | 不變 |
| 33 | PNW 4.75 06-15-27債券 | Pinnacle West Capital | — | — | 不變 |
| 34 | DUK 4.125 04-15-26債券 | Duke Energy CORP | 0% | — | 不變 |
| 35 | WEC 4.375 06-01-27債券 | Wec Energy Group Inc | 0% | — | 不變 |
| 36 | WEC 4.375 06-01-29債券 | Wec Energy Group Inc | 0% | — | 不變 |
| 37 | HFRO | Highland Opport & Income | -0.1% | -16.74% | 減碼 |
| 38 | IHRT | Iheartmedia Inc - Class A | -0.1% | -60.03% | 減碼 |
| 39 | UBER 0.875 12-01-28 2028債券 | Uber Technologies Inc | -0.1% | — | 不變 |
| 40 | CCO | Clear Channel Outdoor Holdin | -0.1% | -63.47% | 減碼 |
| 41 | WW | Ww International Inc-new | -1.7% | -37.97% | 減碼 |
| 42 | SO 3.875 12-15-25債券 | Southern Co | — | EXIT | 清倉 |
| 43 | CBL | Cbl & Associates Properties | — | EXIT | 清倉 |
| 44 | EFT | Eaton Vance Fltng Rt Inc Tr | — | NEW | 新建倉 |
| 45 | RXT | Rackspace Technology Inc | — | NEW | 新建倉 |
| 46 | HYT | Blackrock CORP Hi Yld | — | NEW | 新建倉 |
| 47 | NMFC 7.5 10-15-25債券 | New Mountain Finance Cor | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，AEGON USA Investment Management, LLC 在 Q4 2025 季度的美股持倉總市值約為 US$1.4億，共申報了 44 個公開持股部位。
在 Q4 2025 季度，AEGON USA Investment Management, LLC 按市值排列的前三大核心持股分別為：VTI (67.4%)、WW (3.8%)、WFC 7.5 PERP L (2.5%)。其中最大持股部位 VTI 佔據整體投資組合約 67.4% 的權重。
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。
本季最大新建倉標的
EFT
市值: US$20.1萬
本季最大獲利了結 / 清倉標的
SO 3.875 12-15-25
前期市值: US$255.3萬
在 Q4 2025 季度中，AEGON USA Investment Management, LLC 共進行了 15 項持倉異動，包含新建倉 3 個部位、加碼 3 個部位、減碼 6 個部位以及清倉 3 個部位。 其中最大新建倉標的為 EFT。 本季清倉部位包含 SO 3.875 12-15-25。
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。
解析公司高管、董事與 10% 大股東之 Form 4 內部人交易申報，掌握高管自家股票買賣第一手訊號。
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。