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: 0001568280
申報總市值
US$50.5億
US$50.5億
93 檔
20.5%
在 Q2 2025 的 13F 官方備案中，BW Gestao de Investimentos Ltda. 管理的美股投資組合規模來到 US$50.5億，整體持股檔數為 93 檔。
Q2 2025 數據顯示 BW Gestao de Investimentos Ltda. 積極進場，新開立 37 個部位並同步加碼 36 檔個股，反映機構在該季度的資金注入與籌碼積累。
在資產配置集中度方面，BW Gestao de Investimentos Ltda. 的前 5 大核心持股（包含 SPY, IWM, THC 等）合計佔整體申報市值的 20.5%，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 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 18.11% | +9.50% | -62.09% | |
| 2 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 12.84% | -5.08% | -6.67% | |
| 3 | THC | Tenet Healthcare CORP | 股票-醫療保健 | 5.46% | -0.97% | +15.89% | |
| 4 | ARKK | Ark Innovation ETF | ETF-其他 | 4.33% | -0.20% | EXIT | |
| 5 | RBA | Rb Global Inc | 股票-工業 | 3.36% | -1.17% | +35.44% | |
| 6 | FOUR | Shift4 Payments Inc-class A | 股票-科技 | 3.04% | -0.22% | EXIT | |
| 7 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 2.78% | -0.13% | -88.12% | |
| 8 | NTNX | Nutanix Inc - A | 股票-科技 | 2.50% | -0.85% | +27.07% | |
| 9 | EWZ | Ishares Msci Brazil ETF | ETF-其他 | 2.45% | +2.05% | NEW | |
| 10 | CVS | Cvs Health CORP | 股票-醫療保健 | 2.08% | — | +373.33% | |
| 11 | KRE | Ss Spdr S&p Regional Bank | ETF-其他 | 1.99% | — | — | |
| 12 | PRGO | Perrigo Company plc | 股票-醫療保健 | 1.67% | -0.16% | EXIT | |
| 13 | PCG | P G & E CORP | 股票-公用事業 | 1.66% | -0.14% | — | |
| 14 | GLOB | Globant S.A. | 股票-科技 | 1.65% | -0.45% | +133.53% | |
| 15 | ECL | Ecolab Inc | 股票-原物料 | 1.46% | +0.07% | +14.35% | |
| 16 | ALIT | Alight Inc - Class A | 股票-其他 | 1.44% | -0.08% | +30.46% | |
| 17 | XLV | Ss Health Care Select Sector | ETF-其他 | 1.31% | -0.35% | +1927.98% | |
| 18 | TSLA | Tesla Inc | 股票-循環性消費 | 1.26% | -0.75% | +47.94% | |
| 19 | XLF | Ss Financial Select Sector | ETF-其他 | 1.20% | — | — | |
| 20 | GT | Goodyear Tire & Rubber Co | 股票-循環性消費 | 1.19% | -0.05% | EXIT | |
| 21 | MSFT | Microsoft CORP | 股票-科技 | 1.18% | +0.95% | +38.84% | |
| 22 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.13% | +0.32% | +139.72% | |
| 23 | BIRK | Birkenstock Holding plc | 股票-其他 | 1.11% | -0.14% | +52.37% | |
| 24 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投資等級債 | 1.05% | — | -69.50% | |
| 25 | NRG | Nrg Energy Inc | 股票-公用事業 | 1.04% | -0.43% | EXIT | |
| 26 | EIX | Edison International | 股票-公用事業 | 1.03% | — | — | |
| 27 | PENN | Penn Entertainment Inc | 股票-循環性消費 | 1.01% | -0.27% | EXIT | |
| 28 | XRT | Ss Spdr S&p Retail ETF | ETF-其他 | 0.98% | — | — | |
| 29 | AER | AerCap Holdings N.V. | 股票-工業 | 0.96% | -0.18% | EXIT | |
| 30 | CPRI | Capri Holdings Limited | 股票-循環性消費 | 0.92% | -0.71% | -5.69% | |
| 31 | BX | Blackstone Inc | 股票-金融 | 0.88% | -0.25% | +15.34% | |
| 32 | KWEB | Kranesh Csi China Internet | ETF-新興市場 | 0.86% | — | +73.10% | |
| 33 | ITB | Ishares U.s. Home Constructi | ETF-其他 | 0.79% | — | — | |
| 34 | ✓ | Ci&t Inc | 股票-其他 | 0.73% | -0.20% | +9.20% | |
| 35 | AMTM | Amentum Holdings Inc | 股票-工業 | 0.72% | — | +81.30% | |
| 36 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.71% | — | +497.21% | |
| 37 | GFR | Greenfire Resources LTD | 股票-其他 | 0.62% | — | +95.82% | |
| 38 | NOG | Northern Oil And Gas Inc | 股票-能源 | 0.62% | — | +10.69% | |
| 39 | AVGO | Broadcom Inc | 股票-科技 | 0.62% | -1.03% | EXIT | |
| 40 | PATH | Uipath Inc - Class A | 股票-科技 | 0.59% | -0.67% | +2.29% | |
| 41 | CLVT | Clarivate Plc | 股票-其他 | 0.52% | -0.07% | -12.47% | |
| 42 | ✓ | On Holding AG | 股票-其他 | 0.50% | — | +650.00% | |
| 43 | CALF | Pcr US Sm Cp Csh Cws Etf-usd | ETF-其他 | 0.49% | — | — | |
| 44 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.48% | — | +116.67% | |
| 45 | CCL1EUR | Carnival CORP LTD | 股票-循環性消費 | 0.45% | — | +100.00% | |
| 46 | KVUE | Kenvue Inc | 股票-非循環性消費 | 0.44% | — | — | |
| 47 | IFF | Intl Flavors & Fragrances | 股票-原物料 | 0.40% | -0.18% | — | |
| 48 | PLNT | Planet Fitness Inc - Cl A | 股票-循環性消費 | 0.39% | +0.42% | — | |
| 49 | WCN | Waste Connections Inc | 股票-工業 | 0.39% | -0.07% | +27.78% | |
| 50 | JBS | Jbs N.v. | 股票-其他 | 0.37% | +0.03% | NEW |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | IWM | Ishares Russell 2000 ETF | +3.4% | -6.67% | 減碼 |
| 2 | ARKK | Ark Innovation ETF | +2.8% | +41.51% | 加碼 |
| 3 | THC | Tenet Healthcare CORP | +2.8% | +15.89% | 加碼 |
| 4 | KRE | Ss Spdr S&p Regional Bank | +2% | NEW | 新建倉 |
| 5 | CVS | Cvs Health CORP | +1.8% | +373.33% | 加碼 |
| 6 | PCG | P G & E CORP | +1.7% | NEW | 新建倉 |
| 7 | RBA | Rb Global Inc | +1.6% | +35.44% | 加碼 |
| 8 | XLV | Ss Health Care Select Sector | +1.3% | +1927.98% | 加碼 |
| 9 | XLF | Ss Financial Select Sector | +1.2% | NEW | 新建倉 |
| 10 | NTNX | Nutanix Inc - A | +1.2% | +27.07% | 加碼 |
| 11 | EIX | Edison International | +1% | NEW | 新建倉 |
| 12 | FOUR | Shift4 Payments Inc-class A | +1% | -8.15% | 減碼 |
| 13 | XRT | Ss Spdr S&p Retail ETF | +1% | NEW | 新建倉 |
| 14 | NRG | Nrg Energy Inc | +1% | +566.67% | 加碼 |
| 15 | GLOB | Globant S.A. | +1% | +133.53% | 加碼 |
| 16 | AMZN | Amazon.com Inc | +0.8% | +139.72% | 加碼 |
| 17 | ITB | Ishares U.s. Home Constructi | +0.8% | NEW | 新建倉 |
| 18 | TSLA | Tesla Inc | +0.8% | +47.94% | 加碼 |
| 19 | MSFT | Microsoft CORP | +0.7% | +38.84% | 加碼 |
| 20 | META | Meta Platforms Inc-class A | +0.6% | +497.21% | 加碼 |
| 21 | BIRK | Birkenstock Holding plc | +0.6% | +52.37% | 加碼 |
| 22 | ALIT | Alight Inc - Class A | +0.6% | +30.46% | 加碼 |
| 23 | ECL | Ecolab Inc | +0.6% | +14.35% | 加碼 |
| 24 | PRGO | Perrigo Company plc | +0.5% | +13.18% | 加碼 |
| 25 | AVGO | Broadcom Inc | +0.5% | +133.33% | 加碼 |
| 26 | AMTM | Amentum Holdings Inc | +0.5% | +81.30% | 加碼 |
| 27 | KWEB | Kranesh Csi China Internet | +0.5% | +73.10% | 加碼 |
| 28 | ✓ | On Holding AG | +0.5% | +650.00% | 加碼 |
| 29 | KVUE | Kenvue Inc | +0.4% | NEW | 新建倉 |
| 30 | IFF | Intl Flavors & Fragrances | +0.4% | NEW | 新建倉 |
| 31 | PLNT | Planet Fitness Inc - Cl A | +0.4% | NEW | 新建倉 |
| 32 | JBS | Jbs N.v. | +0.4% | NEW | 新建倉 |
| 33 | FLUT | Flutter Entertainment plc | +0.4% | NEW | 新建倉 |
| 34 | BX | Blackstone Inc | +0.4% | +15.34% | 加碼 |
| 35 | GOOGL | Alphabet Inc-cl A | +0.3% | +116.67% | 加碼 |
| 36 | PENN | Penn Entertainment Inc | +0.3% | +2.01% | 加碼 |
| 37 | CCL1EUR | Carnival CORP LTD | +0.3% | +100.00% | 加碼 |
| 38 | FTAI | FTAI Aviation Ltd. | +0.3% | NEW | 新建倉 |
| 39 | GFR | Greenfire Resources LTD | +0.3% | +95.82% | 加碼 |
| 40 | CLS | Celestica Inc | +0.3% | +133.33% | 加碼 |
| 41 | SRAD | Sportradar Group AG | +0.3% | +712.50% | 加碼 |
| 42 | PATH | Uipath Inc - Class A | +0.2% | +2.29% | 加碼 |
| 43 | CPA | Copa Holdings, S.A. | +0.2% | NEW | 新建倉 |
| 44 | HLI | Houlihan Lokey Inc | +0.2% | NEW | 新建倉 |
| 45 | DNN | Denison Mines CORP | +0.2% | NEW | 新建倉 |
| 46 | EXE | Expand Energy CORP | +0.2% | NEW | 新建倉 |
| 47 | ✓ | Ci&t Inc | +0.2% | +9.20% | 加碼 |
| 48 | AMD | Advanced Micro Devices | +0.2% | NEW | 新建倉 |
| 49 | VTEX | Vtex | +0.2% | +1301.05% | 加碼 |
| 50 | GT | Goodyear Tire & Rubber Co | +0.2% | -21.04% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，BW Gestao de Investimentos Ltda. 在 Q2 2025 季度的美股持倉總市值約為 US$50.5億，共申報了 93 個公開持股部位。
在 Q2 2025 季度，BW Gestao de Investimentos Ltda. 按市值排列的前三大核心持股分別為：SPY (18.1%)、IWM (12.8%)、THC (5.5%)。其中最大持股部位 SPY 佔據整體投資組合約 18.1% 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
KRE
市值: US$4689.2萬
本季最大獲利了結 / 清倉標的
FEZ
前期市值: US$8161.5萬
在 Q2 2025 季度中，BW Gestao de Investimentos Ltda. 共進行了 118 項持倉異動，包含新建倉 37 個部位、加碼 36 個部位、減碼 14 個部位以及清倉 31 個部位。 其中最大新建倉標的為 KRE。 本季清倉部位包含 FEZ。
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。