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: 0000009015
申報總市值
US$56.4億
US$56.4億
171 檔
51.3%
Q3 2025 季度申報顯示，Barings LLC 揭露的美股組合總市值為 US$56.4億，涵蓋 171 個不同之權益投資部位。
觀察 Q3 2025 的申報異動，Barings LLC 採取了強勁的買進策略，建倉與加碼動作（合計 27 筆）涵蓋多個核心板塊，展現機構對特定產業前景之樂觀態度。
檢視投資組合結構，前 5 大主力部位（包含 IVV, QQQ, IWO）占據了總市值的 51.3%，展現出該機構在 Q3 2025 的重點資金聚焦與風險分佈特徵。
| # | 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 | IVV | Ishares Core S&p 500 ETF | ETF-大型股與成長 | 20.35% | +6.01% | +1.14% | |
| 2 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 10.20% | +3.17% | +0.11% | |
| 3 | IWO | Ishares Russell 2000 Growth | ETF-中小型股 | 9.89% | +3.22% | -2.78% | |
| 4 | VCSH | Vanguard S/t CORP Bond ETF | ETF-投資等級公司債 | 7.77% | +0.62% | — | |
| 5 | IGSB | Ishares 1-5y Inv Grade CORP | ETF-其他 | 6.91% | +0.56% | — | |
| 6 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-投資等級公司債 | 5.88% | -9.90% | +3764.27% | |
| 7 | JAAA | Janus Henderson Aaa Clo ETF | ETF-其他 | 5.80% | -6.10% | — | |
| 8 | BBDC | Barings Bdc Inc | 股票-其他 | 2.27% | +0.25% | — | |
| 9 | VT | Vanguard Tot World Stk ETF | ETF-其他 | 2.13% | +0.11% | +2.74% | |
| 10 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 1.46% | +0.02% | +28.44% | |
| 11 | PDD | Pdd Holdings Inc | 股票-循環性消費 | 1.36% | -0.27% | +11.48% | |
| 12 | IEF | Ishares 7-10 Year Treasury B | ETF-政府公債 | 1.16% | +0.03% | -1.73% | |
| 13 | HLF 4.25 06-15-28債券 | Herbalife LTD | 債券 | 1.09% | +0.12% | +62.75% | |
| 14 | URTH | Ishares Msci World ETF | ETF-其他 | 1.08% | +0.14% | -13.12% | |
| 15 | WPM | Wheaton Precious Metals CORP | 股票-原物料 | 0.95% | -0.07% | +1.80% | |
| 16 | AU | AngloGold Ashanti plc | 股票-原物料 | 0.90% | -0.01% | -1.03% | |
| 17 | ARX | Accelerant Holdings | 股票-其他 | 0.88% | -0.07% | — | |
| 18 | IVW | Ishares S&p 500 Growth ETF | ETF-大型股與成長 | 0.85% | — | +51.87% | |
| 19 | USHY | Ishares Broad Usd High Yield | ETF-非投資等級債 | 0.85% | -0.16% | +165.54% | |
| 20 | FLOT | Ishares Floating Rate Bond E | ETF-其他 | 0.76% | +0.07% | — | |
| 21 | SE | Sea Ltd-adr | 股票-通訊服務 | 0.71% | +0.09% | -8.79% | |
| 22 | IEV | Ishares Europe ETF | ETF-其他 | 0.71% | -0.50% | -21.72% | |
| 23 | PSN 2.625 03-01-29債券 | Parsons CORP | 債券 | 0.65% | +0.35% | +0.44% | |
| 24 | CRH | CRH plc | 股票-原物料 | 0.64% | +0.05% | -3.78% | |
| 25 | IGV | Ishares Expanded Tech-softwa | ETF-科技型 | 0.59% | -0.31% | EXIT | |
| 26 | EEM | Ishares Msci Emerging Market | ETF-新興市場 | 0.54% | -0.11% | -6.51% | |
| 27 | NU | Nu Holdings Ltd. | 股票-金融 | 0.48% | +0.10% | +10.20% | |
| 28 | DYNF | Ishrs US E F R A Etf-usd Inc | ETF-其他 | 0.48% | +0.47% | — | |
| 29 | SABHLD 7.32 08-01-26債券 | Sabre Glbl Inc | 債券 | 0.44% | +0.03% | +0.46% | |
| 30 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 0.41% | +0.09% | — | |
| 31 | AON | Aon plc | 股票-金融 | 0.40% | +0.03% | +1240.97% | |
| 32 | HDB | Hdfc Bank Ltd-adr | 股票-金融 | 0.39% | +0.03% | +100.11% | |
| 33 | ONC | Beone Medicines Ltd-adr | 股票-其他 | 0.36% | +0.01% | — | |
| 34 | UNIT 7.5 12-01-27債券 | Uniti Group Inc | 債券 | 0.34% | -0.03% | — | |
| 35 | QGEN | Qiagen N.V. | 股票-醫療保健 | 0.34% | — | — | |
| 36 | EMBD | Global X Emerging Markets Bd | ETF-新興市場 | 0.31% | +0.02% | -0.51% | |
| 37 | EWJ | Ishares Msci Japan ETF | ETF-其他 | 0.30% | +0.01% | — | |
| 38 | SU | Suncor Energy Inc | 股票-能源 | 0.28% | +0.05% | — | |
| 39 | CVX | Chevron CORP | 股票-能源 | 0.27% | -0.05% | +107.30% | |
| 40 | LIN | Linde plc | 股票-原物料 | 0.26% | +0.01% | -7.97% | |
| 41 | EOSE | Eos Energy Enterprises Inc | 股票-其他 | 0.26% | +0.03% | — | |
| 42 | CTGO | Contango Silver & Gold Inc | 股票-其他 | 0.23% | -0.01% | — | |
| 43 | XOM | Exxon Mobil CORP | 股票-能源 | 0.22% | -0.04% | -17.66% | |
| 44 | VGT | Vanguard Info Tech ETF | ETF-科技型 | 0.22% | +0.26% | — | |
| 45 | YUMC | Yum China Holdings Inc | 股票-循環性消費 | 0.21% | — | -0.52% | |
| 46 | COP | Conocophillips | 股票-能源 | 0.20% | -0.04% | +0.20% | |
| 47 | ZD 3.625 03-01-28債券 | Ziff Davis Inc | 債券 | 0.18% | +0.02% | — | |
| 48 | NEM | Newmont CORP | 股票-原物料 | 0.18% | -0.02% | +32.98% | |
| 49 | ENB | Enbridge Inc | 股票-能源 | 0.18% | -0.11% | EXIT | |
| 50 | QQQM | Invesco Nasdaq 100 ETF | ETF-科技型 | 0.17% | +0.06% | -3.19% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | +5.6% | +3764.27% | 加碼 |
| 2 | VT | Vanguard Tot World Stk ETF | +1.5% | +2.74% | 加碼 |
| 3 | IVW | Ishares S&p 500 Growth ETF | +0.8% | +51.87% | 加碼 |
| 4 | HLF 4.25 06-15-28債券 | Herbalife LTD | +0.6% | +62.75% | 加碼 |
| 5 | AON | Aon plc | +0.4% | +1240.97% | 加碼 |
| 6 | NU | Nu Holdings Ltd. | +0.2% | +10.20% | 加碼 |
| 7 | EWJ | Ishares Msci Japan ETF | +0.2% | — | 加碼 |
| 8 | AU | AngloGold Ashanti plc | +0.2% | -1.03% | 減碼 |
| 9 | PSN 2.625 03-01-29債券 | Parsons CORP | +0.2% | +0.44% | 加碼 |
| 10 | EOSE | Eos Energy Enterprises Inc | +0.2% | — | 加碼 |
| 11 | NEM | Newmont CORP | +0.1% | +32.98% | 加碼 |
| 12 | ADM | Archer-daniels-midland Co | +0.1% | +425.56% | 加碼 |
| 13 | CTGO | Contango Silver & Gold Inc | +0.1% | — | 不變 |
| 14 | CVX | Chevron CORP | +0.1% | +107.30% | 加碼 |
| 15 | WPM | Wheaton Precious Metals CORP | 0% | +1.80% | 減碼 |
| 16 | IGV | Ishares Expanded Tech-softwa | 0% | — | 不變 |
| 17 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.1% | +28.44% | 加碼 |
| 18 | URTH | Ishares Msci World ETF | -0.1% | -13.12% | 減碼 |
| 19 | PDD | Pdd Holdings Inc | -0.2% | +11.48% | 加碼 |
| 20 | MOS | Mosaic Co/the | -0.2% | -61.96% | 減碼 |
| 21 | FPE | Ft-preferred Secur & Inc ETF | -0.2% | -53.81% | 減碼 |
| 22 | YUMC | Yum China Holdings Inc | -0.4% | -0.52% | 減碼 |
| 23 | QQQ | Invesco Qqq Trust Series 1 | -0.5% | +0.11% | 減碼 |
| 24 | SUSC | Ishares Esg Aware Usd Corpor | -0.5% | -17.49% | 減碼 |
| 25 | IWO | Ishares Russell 2000 Growth | -0.6% | -2.78% | 加碼 |
| 26 | BBDC | Barings Bdc Inc | -1% | — | 不變 |
| 27 | IVV | Ishares Core S&p 500 ETF | -2.1% | +1.14% | 加碼 |
| 28 | VCSH | Vanguard S/t CORP Bond ETF | -2.3% | — | 不變 |
| 29 | JAAA | Janus Henderson Aaa Clo ETF | — | NEW | 新建倉 |
| 30 | QUAL | Ishares Msci USA Quality Fac | — | EXIT | 清倉 |
| 31 | ARX | Accelerant Holdings | — | NEW | 新建倉 |
| 32 | USHY | Ishares Broad Usd High Yield | — | NEW | 新建倉 |
| 33 | SHV | Ishares 0-1 Year Treasury Bo | — | EXIT | 清倉 |
| 34 | DYNF | Ishrs US E F R A Etf-usd Inc | — | NEW | 新建倉 |
| 35 | BEKE | Ke Holdings Inc-adr | — | EXIT | 清倉 |
| 36 | VFH | Vanguard Financials ETF | — | EXIT | 清倉 |
| 37 | SPHD | Invesco S&p 500 High Dividen | — | EXIT | 清倉 |
| 38 | UNIT 7.5 12-01-27債券 | Uniti Group Inc | — | NEW | 新建倉 |
| 39 | AGG | Ishares Core U.s. Aggregate | — | EXIT | 清倉 |
| 40 | CEMB | Ishares Jp Morgan Em Corpora | — | EXIT | 清倉 |
| 41 | ZD 3.625 03-01-28債券 | Ziff Davis Inc | — | NEW | 新建倉 |
| 42 | UPST 0.25 08-15-26債券 | Upstart Holdings Inc | — | EXIT | 清倉 |
| 43 | JXI | Ishares Global Utilities ETF | — | NEW | 新建倉 |
| 44 | EQT | Eqt CORP | — | NEW | 新建倉 |
| 45 | GLD | Spdr Gold Shares | — | NEW | 新建倉 |
| 46 | ✓ | Moneylion Inc | — | EXIT | 清倉 |
| 47 | CPT | Camden Property Trust | — | NEW | 新建倉 |
| 48 | SLB | Slb LTD | — | EXIT | 清倉 |
| 49 | CIB | Grupo Cibest Sa-adr | — | NEW | 新建倉 |
| 50 | ECL | Ecolab Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Barings LLC 在 Q3 2025 季度的美股持倉總市值約為 US$56.4億，共申報了 171 個公開持股部位。
在 Q3 2025 季度，Barings LLC 按市值排列的前三大核心持股分別為：IVV (20.4%)、QQQ (10.2%)、IWO (9.9%)。其中最大持股部位 IVV 佔據整體投資組合約 20.4% 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
JAAA
市值: US$3.0億
本季最大獲利了結 / 清倉標的
QUAL
前期市值: US$4913.8萬
在 Q3 2025 季度中，Barings LLC 共進行了 46 項持倉異動，包含新建倉 11 個部位、加碼 16 個部位、減碼 8 個部位以及清倉 11 個部位。 其中最大新建倉標的為 JAAA。 本季清倉部位包含 QUAL。
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。