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。
AlphaSMO 權威研究指南閱讀專題
CIK: 0001167456
申報總市值
US$70.2億
US$70.2億
497 檔
7.5%
AQR Arbitrage LLC 在 Q4 2025 季度的美股部位總計估值為 US$70.2億，分散於 497 個持倉標的之中，反映其市場參與廣度與投資規模。
AQR Arbitrage LLC 於 Q4 2025 展現出進攻型調倉步調，本季推動了 98 檔股票的新建倉與 22 檔既有部位加碼，整體資金傾向擴大在美股市場的曝險佈局。
從部位權重觀察，前 5 大標的（包含 QRVO, TECK, NSC）累計市值佔比達 7.5%，是驅動 AQR Arbitrage LLC 該季度整體投資組合績效表現的核心支柱。
僅顯示前 200 大持股（共 497 檔）
| # | 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 | QRVO | Qorvo Inc | 股票-科技 | 2.49% | +0.17% | — | |
| 2 | TECK | Teck Resources Ltd-cls B | 股票-原物料 | 2.38% | -0.18% | +812.98% | |
| 3 | NSC | Norfolk Southern CORP | 股票-工業 | 2.08% | +0.50% | +74.45% | |
| 4 | ✓ | Cyberark Software LTD. Cmn | 股票-其他 | 2.04% | — | +77.63% | |
| 5 | DKNG 0 03-15-28債券 | Draftkings Holdings Inc | 債券 | 2.02% | -1.29% | EXIT | |
| 6 | AL | Air Lease CORP | 股票-其他 | 2.01% | -1.79% | EXIT | |
| 7 | CADE | Cadence Bank | 股票-其他 | 1.96% | — | — | |
| 8 | NGDN | New Gold Inc | 股票-其他 | 1.93% | — | — | |
| 9 | GTLS | Chart Industries Inc | 股票-工業 | 1.88% | +0.22% | +14.51% | |
| 10 | CMA | Comerica Inc | 股票-其他 | 1.85% | — | — | |
| 11 | ON 0.5 03-01-29債券 | On Semiconductor CORP | 債券 | 1.80% | -1.37% | +112.06% | |
| 12 | SNAP 0.5 05-01-30債券 | Snap Inc | 債券 | 1.72% | — | +241.28% | |
| 13 | DXCM 0.375 05-15-28債券 | Dexcom Inc | 債券 | 1.62% | -1.27% | EXIT | |
| 14 | FYBR | Frontier Communications Pare | 股票-其他 | 1.60% | — | +26.42% | |
| 15 | TXNM | Txnm Energy Inc | 股票-公用事業 | 1.46% | -0.23% | +12.69% | |
| 16 | EA | Electronic Arts Inc | 股票-通訊服務 | 1.45% | +0.68% | +236.22% | |
| 17 | KVUE | Kenvue Inc | 股票-非循環性消費 | 1.27% | +0.73% | — | |
| 18 | LBRDK | Liberty Broadband-c | 股票-通訊服務 | 1.09% | -0.36% | +24.70% | |
| 19 | DAY | Dayforce Inc | 股票-其他 | 1.08% | — | +135.65% | |
| 20 | MSTR 0 12-01-29債券 | Strategy Inc | 債券 | 1.08% | -0.85% | — | |
| 21 | WBD | Warner Bros Discovery Inc | 股票-通訊服務 | 1.05% | +0.30% | — | |
| 22 | SMCI 3.5 03-01-29債券 | Super Micro Computer Inc | 債券 | 0.99% | -0.69% | +197.26% | |
| 23 | SDA | Sealed Air CORP | 股票-循環性消費 | 0.92% | -1.21% | EXIT | |
| 24 | RIO | Rio Tinto Plc-spon Adr | 股票-原物料 | 0.90% | — | +105.40% | |
| 25 | 8QR | Confluent Inc-class A | 股票-其他 | 0.89% | — | — | |
| 26 | 1RG | Rev Group Inc | 股票-其他 | 0.87% | — | — | |
| 27 | NWE | Northwestern Energy Group In | 股票-公用事業 | 0.82% | -0.05% | +2434.88% | |
| 28 | ✓ | Csg Systems International In | 股票-其他 | 0.81% | -0.71% | EXIT | |
| 29 | WT 3.25 08-15-29債券 | Wisdomtree Inc | 債券 | 0.80% | — | — | |
| 30 | GPN 1.5 03-01-31債券 | Global Payments Inc | 債券 | 0.77% | -0.16% | — | |
| 31 | BHF | Brighthouse Financial Inc | 股票-金融 | 0.77% | — | — | |
| 32 | WTRG | Essential Utilities Inc | 股票-公用事業 | 0.77% | +0.03% | — | |
| 33 | PATK 1.75 12-01-28債券 | Patrick Industries Inc | 債券 | 0.76% | — | -34.64% | |
| 34 | CDTX | Cidara Therapeutics Inc | 股票-其他 | 0.73% | — | — | |
| 35 | 9HI | Hillenbrand Inc | 股票-其他 | 0.70% | — | — | |
| 36 | CWAN | Clearwater Analytics Holdings, Inc. | 股票-科技 | 0.67% | -1.28% | EXIT | |
| 37 | HO1 | Hologic Inc | 股票-其他 | 0.66% | -1.30% | EXIT | |
| 38 | JD 0.25 06-01-29債券 | Jd.com Inc | 債券 | 0.61% | -0.13% | — | |
| 39 | TCOM 0.75 06-15-29債券 | Trip.com Group LTD | 債券 | 0.60% | -0.13% | — | |
| 40 | AM6 | Amicus Therapeutics Inc | 股票-其他 | 0.59% | -1.39% | EXIT | |
| 41 | BOX 1.5 09-15-29債券 | Box Inc | 債券 | 0.57% | — | — | |
| 42 | ✓ | Realogy Hldgs CORP Com | 股票-其他 | 0.56% | — | +98.21% | |
| 43 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | 債券 | 0.56% | +0.13% | — | |
| 44 | GRPN 4.875 06-30-30 UNRS債券 | Groupon Inc | 債券 | 0.55% | +0.04% | — | |
| 45 | WB 1.375 12-01-30債券 | Weibo CORP | 債券 | 0.55% | +0.15% | — | |
| 46 | EVAC-WT | EQV Ventures Acquisition Corp. II WT | 股票-其他 | 0.53% | — | — | |
| 47 | F 0 03-15-26債券 | Ford Motor Company | 債券 | 0.53% | — | -4.95% | |
| 48 | BL 1 06-01-29債券 | Blackline Inc | 債券 | 0.53% | — | +23500.00% | |
| 49 | PRGS 3.5 03-01-30債券 | Progress Software CORP | 債券 | 0.51% | -0.04% | +570.10% | |
| 50 | VSH 2.25 09-15-30債券 | Vishay Intertechnology | 債券 | 0.50% | -0.58% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | TECK | Teck Resources Ltd-cls B | +2.1% | +812.98% | 加碼 |
| 2 | DKNG 0 03-15-28債券 | Draftkings Holdings Inc | +1.2% | +186.58% | 加碼 |
| 3 | SNAP 0.5 05-01-30債券 | Snap Inc | +1.1% | +241.28% | 加碼 |
| 4 | EA | Electronic Arts Inc | +0.9% | +236.22% | 加碼 |
| 5 | ON 0.5 03-01-29債券 | On Semiconductor CORP | +0.8% | +112.06% | 加碼 |
| 6 | NWE | Northwestern Energy Group In | +0.8% | +2434.88% | 加碼 |
| 7 | NSC | Norfolk Southern CORP | +0.6% | +74.45% | 加碼 |
| 8 | ✓ | Cyberark Software LTD. Cmn | +0.5% | +77.63% | 加碼 |
| 9 | DAY | Dayforce Inc | +0.5% | +135.65% | 加碼 |
| 10 | SMCI 3.5 03-01-29債券 | Super Micro Computer Inc | +0.5% | +197.26% | 加碼 |
| 11 | BL 1 06-01-29債券 | Blackline Inc | +0.5% | +23500.00% | 加碼 |
| 12 | RIO | Rio Tinto Plc-spon Adr | +0.5% | +105.40% | 加碼 |
| 13 | PRGS 3.5 03-01-30債券 | Progress Software CORP | +0.4% | +570.10% | 加碼 |
| 14 | AL | Air Lease CORP | +0.4% | +47.25% | 加碼 |
| 15 | ✓ | Realogy Hldgs CORP Com | +0.3% | +98.21% | 加碼 |
| 16 | FYBR | Frontier Communications Pare | +0.1% | +26.42% | 加碼 |
| 17 | AHL-PD | Aspen Insurance Holdings Limited | +0.1% | +55.15% | 加碼 |
| 18 | STAA | Staar Surgical Co | 0% | +45.06% | 加碼 |
| 19 | VSH 2.25 09-15-30債券 | Vishay Intertechnology | — | +23.14% | 加碼 |
| 20 | GTLS | Chart Industries Inc | -0.1% | +14.51% | 加碼 |
| 21 | TXNM | Txnm Energy Inc | -0.1% | +12.69% | 加碼 |
| 22 | DXCM 0.375 05-15-28債券 | Dexcom Inc | -0.2% | +8.19% | 加碼 |
| 23 | ✓ | Rf Acquisition CORP Ii | -0.2% | -77.96% | 減碼 |
| 24 | ✓ | Vine Hill Cap Invt CORP. | -0.2% | -59.51% | 減碼 |
| 25 | ✓ | -0.2% | -40.74% | 減碼 | |
| 26 | ✓ | -0.2% | -38.51% | 減碼 | |
| 27 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | -0.2% | — | 不變 |
| 28 | ✓ | -0.3% | -50.90% | 減碼 | |
| 29 | DBX 0 03-01-26債券 | Dropbox Inc | -0.4% | -76.81% | 減碼 |
| 30 | BSY 0.375 07-01-27債券 | Bentley Systems | -0.4% | -82.76% | 減碼 |
| 31 | BA 6 10-15-27債券 | Boeing Co/the | -0.4% | -97.94% | 減碼 |
| 32 | DBX 0 03-01-28債券 | Dropbox Inc | -0.5% | -98.79% | 減碼 |
| 33 | PATK 1.75 12-01-28債券 | Patrick Industries Inc | -0.6% | -34.64% | 減碼 |
| 34 | SNOW 0 10-01-29債券 | Snowflake Inc | -0.8% | -99.00% | 減碼 |
| 35 | FIVN 1 03-15-29債券 | Five9 Inc | -1.1% | -99.48% | 減碼 |
| 36 | EXAS 0.375 03-01-28債券 | Exact Sciences CORP | -1.3% | -99.83% | 減碼 |
| 37 | AKAM 1.125 02-15-29債券 | Akamai Technologies Inc | -1.5% | -99.62% | 減碼 |
| 38 | QRVO | Qorvo Inc | — | NEW | 新建倉 |
| 39 | IPG | Interpublic Group Of Cos Inc | — | EXIT | 清倉 |
| 40 | CADE | Cadence Bank | — | NEW | 新建倉 |
| 41 | NGDN | New Gold Inc | — | NEW | 新建倉 |
| 42 | AEBA | Allete Inc | — | EXIT | 清倉 |
| 43 | CMA | Comerica Inc | — | NEW | 新建倉 |
| 44 | AYS1 | Sandstorm Gold LTD | — | EXIT | 清倉 |
| 45 | KEL | Kellanova | — | EXIT | 清倉 |
| 46 | KVUE | Kenvue Inc | — | NEW | 新建倉 |
| 47 | VRNA | Verona Pharma PLC - Adr | — | EXIT | 清倉 |
| 48 | AVDX | Avidxchange Holdings Inc | — | EXIT | 清倉 |
| 49 | MSTR 0 12-01-29債券 | Strategy Inc | — | NEW | 新建倉 |
| 50 | ✓ | Wns Holdings LTD | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，AQR Arbitrage LLC 在 Q4 2025 季度的美股持倉總市值約為 US$70.2億，共申報了 497 個公開持股部位。
在 Q4 2025 季度，AQR Arbitrage LLC 按市值排列的前三大核心持股分別為：QRVO (2.5%)、TECK (2.4%)、NSC (2.1%)。其中最大持股部位 QRVO 佔據整體投資組合約 2.5% 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
QRVO
市值: US$1.2億
本季最大獲利了結 / 清倉標的
IPG
前期市值: US$1.0億
在 Q4 2025 季度中，AQR Arbitrage LLC 共進行了 199 項持倉異動，包含新建倉 98 個部位、加碼 22 個部位、減碼 14 個部位以及清倉 65 個部位。 其中最大新建倉標的為 QRVO。 本季清倉部位包含 IPG。
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。