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: 0001504304
申報總市值
US$4.5億
US$4.5億
171 檔
19.3%
Bulldog Investors, LLP 在 Q2 2025 季度的美股部位總計估值為 US$4.5億，分散於 171 個持倉標的之中，反映其市場參與廣度與投資規模。
在 Q2 2025 期間，Bulldog Investors, LLP 展現了靈活的資產再平衡步調，透過出清 32 檔弱勢或達到目標價部位，將資金轉置於 61 檔新建倉標的之中。
從部位權重觀察，前 5 大標的（包含 STEW, GAM, CET）累計市值佔比達 19.3%，是驅動 Bulldog Investors, LLP 該季度整體投資組合績效表現的核心支柱。
| # | 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 | STEW | Srh Total Return Fund Inc | 股票-其他 | 5.00% | +0.35% | -8.00% | |
| 2 | GAM | General American Investors | 股票-其他 | 4.85% | +0.26% | — | |
| 3 | CET | Central Securities CORP | 股票-其他 | 4.45% | +0.74% | +43.73% | |
| 4 | NBXG | Neuberger Next Generation Co | 股票-其他 | 4.19% | +0.88% | +26.34% | |
| 5 | CION | Cion Investment CORP | 股票-其他 | 3.72% | -0.25% | -9.23% | |
| 6 | DSM | Bnym Strat Muni Bnd | 股票-其他 | 3.68% | -0.41% | +2.74% | |
| 7 | TRC | Tejon Ranch Co | 股票-其他 | 3.39% | -0.10% | +49.06% | |
| 8 | AFB | Allianceberstein Ntl Muni | 股票-其他 | 3.03% | — | +6.92% | |
| 9 | CNNE | Cannae Holdings Inc | 股票-其他 | 2.85% | -0.27% | +42.00% | |
| 10 | RWAY | Runway Growth Finance CORP | 股票-其他 | 2.82% | -0.59% | +30.81% | |
| 11 | TPL | Texas Pacific Land CORP | 股票-能源 | 2.38% | -0.23% | +11.25% | |
| 12 | XCMUX | Mfs High Yield Municipal Tr | 股票-其他 | 2.25% | -2.84% | EXIT | |
| 13 | IIF | Morgan Stanley India Invest | 股票-其他 | 2.13% | — | +4.22% | |
| 14 | XGDVX | Gabelli Dividend & Income Tr | 股票-其他 | 1.98% | +0.13% | -0.07% | |
| 15 | ✓ | Roman Dbdr Acquisition CORP | 股票-其他 | 1.79% | — | +39.10% | |
| 16 | XCXHX | Mfs Investment Grade Muni | 股票-其他 | 1.73% | -2.13% | EXIT | |
| 17 | GF | New Germany Fund Inc/the | 股票-其他 | 1.49% | +0.12% | +10.52% | |
| 18 | ARES | Ares Management Corporation | 股票-金融 | 1.37% | — | -3.95% | |
| 19 | LPAAU | Launch One Acquisition Corp. | 股票-其他 | 1.36% | — | -5.47% | |
| 20 | CUBWW | Lionheart Holdings | 股票-其他 | 1.29% | — | -5.52% | |
| 21 | XENWX | Eaton Vance New York Municip | 股票-其他 | 1.23% | — | -3.63% | |
| 22 | ALX | Alexander's Inc | 股票-其他 | 1.20% | +0.21% | — | |
| 23 | BTX | Blackrock Tech & Priv Eqty | 股票-其他 | 1.13% | +0.02% | NEW | |
| 24 | CPTAUSD | Logan Ridge Finance CORP | 股票-其他 | 1.12% | — | -2.80% | |
| 25 | SIMA | SIM Acquisition Corp. I | 股票-其他 | 1.11% | -0.48% | EXIT | |
| 26 | ✓ | Jackson Acquisition Co Ii | 股票-其他 | 1.08% | -0.52% | +6.16% | |
| 27 | EVAC-WT | EQV Ventures Acquisition Corp. II WT | 股票-其他 | 1.07% | — | — | |
| 28 | CCAP | Crescent Capital Bdc Inc | 股票-其他 | 1.04% | -0.20% | — | |
| 29 | PGZ | Principal Real Estate Income | 股票-其他 | 0.99% | — | +0.41% | |
| 30 | ALFUW | Centurion Acquisition Corp. | 股票-其他 | 0.98% | — | -6.80% | |
| 31 | ✓ | 股票-其他 | 0.94% | — | — | ||
| 32 | ✓ | M3brigade Acquisition V CORP | 股票-其他 | 0.94% | — | -48.36% | |
| 33 | LEO | Bny Mellon Strategic Muni | 股票-其他 | 0.92% | -0.08% | — | |
| 34 | GDL | Gdl Fund | 股票-其他 | 0.87% | -0.01% | +11.93% | |
| 35 | DMA | Destra Multi-alternative | 股票-其他 | 0.86% | -0.02% | -1.13% | |
| 36 | ✓ | 股票-其他 | 0.84% | -0.01% | +219.12% | ||
| 37 | ✓ | 股票-其他 | 0.82% | — | +49.85% | ||
| 38 | ECF | Ellsworth Growth And Income | 股票-其他 | 0.81% | +0.09% | — | |
| 39 | ✓ | Silverbox CORP Iv | 股票-其他 | 0.78% | — | -9.19% | |
| 40 | ✓ | 股票-其他 | 0.77% | +1.40% | NEW | ||
| 41 | ✓ | Blue Acquisition CORP. | 股票-其他 | 0.72% | — | — | |
| 42 | ✓ | 股票-其他 | 0.70% | — | -10.63% | ||
| 43 | ✓ | 股票-其他 | 0.69% | -0.24% | EXIT | ||
| 44 | BCIC | Bcp Investment CORP | 股票-其他 | 0.69% | -0.03% | — | |
| 45 | ✓ | 股票-其他 | 0.65% | — | — | ||
| 46 | EAF | GrafTech International Ltd. | 股票-其他 | 0.65% | -0.24% | EXIT | |
| 47 | KTF | Dws Municipal Income Trust | 股票-其他 | 0.64% | — | -6.32% | |
| 48 | ✓ | 股票-其他 | 0.64% | — | — | ||
| 49 | ✓ | 股票-其他 | 0.62% | — | — | ||
| 50 | ✓ | Soulpower Acquisition CORP | 股票-其他 | 0.60% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CET | Central Securities CORP | +1.3% | +43.73% | 加碼 |
| 2 | NBXG | Neuberger Next Generation Co | +1.2% | +26.34% | 加碼 |
| 3 | ALX | Alexander's Inc | +1.2% | NEW | 新建倉 |
| 4 | TRC | Tejon Ranch Co | +1.1% | +49.06% | 加碼 |
| 5 | CCAP | Crescent Capital Bdc Inc | +1% | NEW | 新建倉 |
| 6 | CNNE | Cannae Holdings Inc | +1% | +42.00% | 加碼 |
| 7 | LEO | Bny Mellon Strategic Muni | +0.9% | NEW | 新建倉 |
| 8 | ✓ | Blue Acquisition CORP. | +0.7% | NEW | 新建倉 |
| 9 | ✓ | +0.7% | NEW | 新建倉 | |
| 10 | ✓ | +0.6% | NEW | 新建倉 | |
| 11 | ✓ | +0.6% | NEW | 新建倉 | |
| 12 | ✓ | Soulpower Acquisition CORP | +0.6% | NEW | 新建倉 |
| 13 | RWAY | Runway Growth Finance CORP | +0.6% | +30.81% | 加碼 |
| 14 | ✓ | +0.6% | +219.12% | 加碼 | |
| 15 | VLGEA | Village Super Market-class A | +0.5% | NEW | 新建倉 |
| 16 | ✓ | Lightwave Acquisition CORP | +0.5% | NEW | 新建倉 |
| 17 | ✓ | +0.5% | NEW | 新建倉 | |
| 18 | BBDC | Barings Bdc Inc | +0.5% | NEW | 新建倉 |
| 19 | ✓ | Blue Wtr Acquisition CORP. I | +0.5% | NEW | 新建倉 |
| 20 | ✓ | Roman Dbdr Acquisition CORP | +0.5% | +39.10% | 加碼 |
| 21 | DMB | Bny Mellon Muni Bnd Infra | +0.5% | NEW | 新建倉 |
| 22 | XPMAX | Pioneer Municipal High Inc | +0.4% | NEW | 新建倉 |
| 23 | ✓ | +0.4% | NEW | 新建倉 | |
| 24 | XMHIX | Pioneer Muni High Inc Tr | +0.3% | NEW | 新建倉 |
| 25 | ✓ | +0.3% | NEW | 新建倉 | |
| 26 | IHD | Voya Emrg Mrkt Hi Dvd Eqty | +0.3% | NEW | 新建倉 |
| 27 | GF | New Germany Fund Inc/the | +0.3% | +10.52% | 加碼 |
| 28 | BTX | Blackrock Tech & Priv Eqty | +0.3% | +23.94% | 加碼 |
| 29 | ✓ | Soulpower Acquisition CORP | +0.3% | NEW | 新建倉 |
| 30 | ✓ | Cal Redwood Acquisition CORP | +0.3% | NEW | 新建倉 |
| 31 | ✓ | Armada Acquisition CORP Ii | +0.3% | NEW | 新建倉 |
| 32 | ✓ | +0.3% | NEW | 新建倉 | |
| 33 | ✓ | +0.3% | NEW | 新建倉 | |
| 34 | ✓ | +0.3% | +49.85% | 加碼 | |
| 35 | ✓ | +0.3% | NEW | 新建倉 | |
| 36 | ✓ | Pelican Acquisition CORP | +0.3% | NEW | 新建倉 |
| 37 | IIF | Morgan Stanley India Invest | +0.2% | +4.22% | 加碼 |
| 38 | XMIOX | Pioneer Muni High Inc Opp | +0.2% | NEW | 新建倉 |
| 39 | ✓ | +0.2% | +53.74% | 加碼 | |
| 40 | GAM | General American Investors | +0.2% | — | 不變 |
| 41 | ✓ | Drugs Made In Amer Acqutn Co | +0.2% | NEW | 新建倉 |
| 42 | ✓ | Berto Acquisition CORP | +0.2% | NEW | 新建倉 |
| 43 | ✓ | +0.2% | NEW | 新建倉 | |
| 44 | JOF | Japan Smaller Capitalization | +0.2% | NEW | 新建倉 |
| 45 | ZTR | Virtus Total Return Fund Inc | +0.2% | +83.86% | 加碼 |
| 46 | XCXEX | Mfs High Income Municipal Tr | +0.2% | +98.95% | 加碼 |
| 47 | OTF | Blue Owl Technology Finance | +0.2% | NEW | 新建倉 |
| 48 | ✓ | Dune Acquisition CORP Ii | +0.2% | NEW | 新建倉 |
| 49 | ✓ | Best Spac I Acquisition CORP | +0.2% | NEW | 新建倉 |
| 50 | ✓ | +0.1% | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Bulldog Investors, LLP 在 Q2 2025 季度的美股持倉總市值約為 US$4.5億，共申報了 171 個公開持股部位。
在 Q2 2025 季度，Bulldog Investors, LLP 按市值排列的前三大核心持股分別為：STEW (5.0%)、GAM (4.8%)、CET (4.5%)。其中最大持股部位 STEW 佔據整體投資組合約 5.0% 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
ALX
市值: US$474.1萬
本季最大獲利了結 / 清倉標的
BNY MELLON MUN INCOME INC COM
前期市值: US$1147.6萬
在 Q2 2025 季度中，Bulldog Investors, LLP 共進行了 172 項持倉異動，包含新建倉 61 個部位、加碼 30 個部位、減碼 49 個部位以及清倉 32 個部位。 其中最大新建倉標的為 ALX。 本季清倉部位包含 BNY MELLON MUN INCOME INC COM。
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。
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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。