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
197 檔
20.6%
根據最新整理的 13F 季度數據集，Bulldog Investors, LLP 於 Q3 2025 結束時的管理資產規模為 US$4.5億。該機構在本季度申報了 197 檔美股持倉，呈現出該時期的主要投資地圖。
觀察 Q3 2025 的申報異動，Bulldog Investors, LLP 採取了強勁的買進策略，建倉與加碼動作（合計 116 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 GAM, STEW, CET）占據了總市值的 20.6%，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 | GAM | General American Investors | 股票-其他 | 4.72% | +0.26% | -4.24% | |
| 2 | STEW | Srh Total Return Fund Inc | 股票-其他 | 4.70% | +0.35% | — | |
| 3 | CET | Central Securities CORP | 股票-其他 | 4.59% | +0.74% | +4.88% | |
| 4 | NBXG | Neuberger Next Generation Co | 股票-其他 | 4.05% | +0.88% | +0.24% | |
| 5 | DSM | Bnym Strat Muni Bnd | 股票-其他 | 3.60% | -0.41% | +1.07% | |
| 6 | CION | Cion Investment CORP | 股票-其他 | 3.37% | -0.25% | — | |
| 7 | TRC | Tejon Ranch Co | 股票-其他 | 2.92% | -0.10% | +0.06% | |
| 8 | RWAY | Runway Growth Finance CORP | 股票-其他 | 2.45% | -0.59% | +0.09% | |
| 9 | XCMUX | Mfs High Yield Municipal Tr | 股票-其他 | 2.41% | -2.84% | EXIT | |
| 10 | AFB | Allianceberstein Ntl Muni | 股票-其他 | 2.34% | — | -20.02% | |
| 11 | CNNE | Cannae Holdings Inc | 股票-其他 | 2.24% | -0.27% | -2.27% | |
| 12 | TPL | Texas Pacific Land CORP | 股票-能源 | 2.10% | -0.23% | +8.99% | |
| 13 | XGDVX | Gabelli Dividend & Income Tr | 股票-其他 | 1.89% | +0.13% | -0.08% | |
| 14 | XCXHX | Mfs Investment Grade Muni | 股票-其他 | 1.78% | -2.13% | EXIT | |
| 15 | OXLC | Oxford Lane Capital CORP | 股票-其他 | 1.75% | — | — | |
| 16 | ✓ | Roman Dbdr Acquisition CORP | 股票-其他 | 1.64% | — | -0.47% | |
| 17 | CCAP | Crescent Capital Bdc Inc | 股票-其他 | 1.44% | -0.20% | +50.67% | |
| 18 | IIF | Morgan Stanley India Invest | 股票-其他 | 1.40% | — | -22.95% | |
| 19 | GF | New Germany Fund Inc/the | 股票-其他 | 1.31% | +0.12% | -0.41% | |
| 20 | VLGEA | Village Super Market-class A | 股票-其他 | 1.31% | -0.04% | +184.49% | |
| 21 | OTF | Blue Owl Technology Finance | 股票-其他 | 1.25% | -0.08% | +740.26% | |
| 22 | BCIC | Bcp Investment CORP | 股票-其他 | 1.23% | -0.03% | +112.43% | |
| 23 | ALX | Alexander's Inc | 股票-其他 | 1.22% | +0.21% | +6.93% | |
| 24 | CUBWW | Lionheart Holdings | 股票-其他 | 1.16% | — | -1.77% | |
| 25 | XENWX | Eaton Vance New York Municip | 股票-其他 | 1.10% | — | -7.42% | |
| 26 | MRCC | Monroe Capital CORP | 股票-其他 | 1.06% | -1.00% | EXIT | |
| 27 | LEO | Bny Mellon Strategic Muni | 股票-其他 | 1.05% | -0.08% | +18.20% | |
| 28 | SIMA | SIM Acquisition Corp. I | 股票-其他 | 1.01% | -0.48% | EXIT | |
| 29 | ✓ | Jackson Acquisition Co Ii | 股票-其他 | 0.99% | -0.52% | -0.88% | |
| 30 | EVAC-WT | EQV Ventures Acquisition Corp. II WT | 股票-其他 | 0.97% | — | — | |
| 31 | ALFUW | Centurion Acquisition Corp. | 股票-其他 | 0.87% | — | -2.42% | |
| 32 | ✓ | Spring Vy Acquisition CORP I | 股票-其他 | 0.87% | — | — | |
| 33 | IHD | Voya Emrg Mrkt Hi Dvd Eqty | 股票-其他 | 0.84% | +0.04% | +169.26% | |
| 34 | ECF | Ellsworth Growth And Income | 股票-其他 | 0.84% | +0.09% | — | |
| 35 | FSK | Fs Kkr Capital CORP | 股票-金融 | 0.83% | -1.16% | EXIT | |
| 36 | DMB | Bny Mellon Muni Bnd Infra | 股票-其他 | 0.82% | -0.26% | +91.66% | |
| 37 | GDL | Gdl Fund | 股票-其他 | 0.81% | -0.01% | -0.35% | |
| 38 | ✓ | M3brigade Acquisition V CORP | 股票-其他 | 0.80% | — | -0.63% | |
| 39 | ✓ | Soulpower Acquisition CORP | 股票-其他 | 0.79% | — | +42.76% | |
| 40 | ✓ | 股票-其他 | 0.78% | — | -10.82% | ||
| 41 | ✓ | 股票-其他 | 0.75% | -0.01% | -2.97% | ||
| 42 | ✓ | 股票-其他 | 0.71% | — | -5.06% | ||
| 43 | ✓ | Blue Acquisition CORP. | 股票-其他 | 0.71% | — | — | |
| 44 | IAE | Voya Asia Pac Hi Dvd Eq Inc | 股票-其他 | 0.70% | +0.16% | +423.99% | |
| 45 | ✓ | Silverbox CORP Iv | 股票-其他 | 0.67% | — | -2.25% | |
| 46 | ✓ | 股票-其他 | 0.63% | -0.24% | EXIT | ||
| 47 | ✓ | 股票-其他 | 0.63% | — | -2.26% | ||
| 48 | ✓ | Fact Ii Acquisition CORP | 股票-其他 | 0.61% | — | +31.49% | |
| 49 | ✓ | 股票-其他 | 0.60% | +0.41% | +27.34% | ||
| 50 | GLO | Clough Global Opportunities | 股票-其他 | 0.59% | +0.41% | +75.08% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CET | Central Securities CORP | +1.5% | +4.88% | 加碼 |
| 2 | NBXG | Neuberger Next Generation Co | +1.1% | +0.24% | 加碼 |
| 3 | TRC | Tejon Ranch Co | +0.7% | +0.06% | 加碼 |
| 4 | ✓ | +0.5% | -2.97% | 加碼 | |
| 5 | BCIC | Bcp Investment CORP | +0.4% | +112.43% | 加碼 |
| 6 | CNNE | Cannae Holdings Inc | +0.4% | -2.27% | 加碼 |
| 7 | ✓ | Roman Dbdr Acquisition CORP | +0.3% | -0.47% | 加碼 |
| 8 | GLO | Clough Global Opportunities | +0.3% | +75.08% | 加碼 |
| 9 | RWAY | Runway Growth Finance CORP | +0.2% | +0.09% | 加碼 |
| 10 | XCXEX | Mfs High Income Municipal Tr | +0.2% | +1.35% | 加碼 |
| 11 | ICMB | Investcorp Credit Management | +0.2% | +45.83% | 加碼 |
| 12 | ✓ | +0.2% | -1.23% | 加碼 | |
| 13 | ZTR | Virtus Total Return Fund Inc | +0.2% | — | 加碼 |
| 14 | ✓ | +0.1% | -5.06% | 加碼 | |
| 15 | GF | New Germany Fund Inc/the | +0.1% | -0.41% | 加碼 |
| 16 | ✓ | Fact Ii Acquisition CORP | +0.1% | +31.49% | 加碼 |
| 17 | ECF | Ellsworth Growth And Income | +0.1% | — | 不變 |
| 18 | GAM | General American Investors | +0.1% | -4.24% | 減碼 |
| 19 | MXE | Mexico Equity And Income Fd | 0% | — | 不變 |
| 20 | ✓ | 0% | -17.17% | 加碼 | |
| 21 | ✓ | M3brigade Acquisition V CORP | 0% | -0.95% | 減碼 |
| 22 | ✓ | 0% | — | 不變 | |
| 23 | ✓ | 0% | -0.47% | 加碼 | |
| 24 | BCV | Bancroft Fund LTD | 0% | — | 不變 |
| 25 | ✓ | Range Cap Acquisition CORP | 0% | -1.23% | 加碼 |
| 26 | ✓ | Sim Acquisition CORP. I | 0% | -0.73% | 減碼 |
| 27 | ✓ | Dynamix CORP | 0% | -68.51% | 減碼 |
| 28 | ✓ | Inflection Point Acquisition | 0% | -17.17% | 加碼 |
| 29 | ✓ | Launch Two Acquisition CORP. | 0% | -5.11% | 加碼 |
| 30 | ✓ | Centurion Acquisition CORP | — | -2.42% | 減碼 |
| 31 | ✓ | Lionheart Holdings | — | -1.34% | 減碼 |
| 32 | GDL | Gdl Fund | 0% | -0.35% | 加碼 |
| 33 | HHH | Howard Hughes Holdings Inc | 0% | — | 不變 |
| 34 | XCXHX | Mfs Investment Grade Muni | -0.1% | +9.44% | 加碼 |
| 35 | SSSS | Suro Capital CORP | -0.1% | -39.92% | 減碼 |
| 36 | XCMUX | Mfs High Yield Municipal Tr | -0.1% | +12.13% | 加碼 |
| 37 | ✓ | Aldel Finl Ii Inc | -0.1% | -5.90% | 減碼 |
| 38 | PFX | Phenixfin CORP | -0.1% | — | 不變 |
| 39 | XGDVX | Gabelli Dividend & Income Tr | -0.1% | -0.08% | 減碼 |
| 40 | ✓ | Jackson Acquisition Co Ii | -0.1% | -0.88% | 加碼 |
| 41 | ✓ | Tavia Acquisition CORP | -0.1% | -1.67% | 減碼 |
| 42 | EVAC-WT | EQV Ventures Acquisition Corp. II WT | -0.1% | — | 不變 |
| 43 | ✓ | Legato Merger CORP Iii | -0.2% | -6.01% | 減碼 |
| 44 | ✓ | Silverbox CORP Iv | -0.2% | -2.25% | 減碼 |
| 45 | EAF | GrafTech International Ltd. | -0.2% | -5.42% | 減碼 |
| 46 | ✓ | -0.2% | -2.26% | 減碼 | |
| 47 | ✓ | -0.2% | -10.82% | 減碼 | |
| 48 | SIMA | SIM Acquisition Corp. I | -0.2% | -1.22% | 減碼 |
| 49 | ALFUW | Centurion Acquisition Corp. | -0.2% | -2.42% | 減碼 |
| 50 | CCIX | Churchill Capital Corp IX | -0.2% | — | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Bulldog Investors, LLP 在 Q3 2025 季度的美股持倉總市值約為 US$4.5億，共申報了 197 個公開持股部位。
在 Q3 2025 季度，Bulldog Investors, LLP 按市值排列的前三大核心持股分別為：GAM (4.7%)、STEW (4.7%)、CET (4.6%)。其中最大持股部位 GAM 佔據整體投資組合約 4.7% 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
OXLC
市值: US$757.3萬
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 Q3 2025 季度中，Bulldog Investors, LLP 共進行了 193 項持倉異動，包含新建倉 89 個部位、加碼 27 個部位、減碼 32 個部位以及清倉 45 個部位。 其中最大新建倉標的為 OXLC。 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。
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。