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
109 檔
15.9%
截至 Q3 2025 季度末，BW Gestao de Investimentos Ltda. 的美股持倉估值約為 US$50.5億，全數申報部位共有 109 檔。
在 Q3 2025，BW Gestao de Investimentos Ltda. 操作展現出積極擴展與加碼意向。本季共新建倉 61 個新部位，並對 25 個既有持股進行加碼（合計增持 86 檔），相較減碼與清倉部位顯著佔優。
檢視投資組合結構，前 5 大主力部位（包含 IWM, TSLA, SPY）占據了總市值的 15.9%，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 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 11.64% | -5.08% | -21.43% | |
| 2 | TSLA | Tesla Inc | 股票-循環性消費 | 9.37% | -0.75% | +415.39% | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 5.83% | +9.50% | -71.01% | |
| 4 | IVV | Ishares Core S&p 500 ETF | ETF-大型股與成長 | 4.54% | +9.69% | — | |
| 5 | THC | Tenet Healthcare CORP | 股票-醫療保健 | 3.78% | -0.97% | -41.63% | |
| 6 | ARKK | Ark Innovation ETF | ETF-其他 | 3.77% | -0.20% | EXIT | |
| 7 | RBA | Rb Global Inc | 股票-工業 | 3.25% | -1.17% | -8.02% | |
| 8 | XLV | Ss Health Care Select Sector | ETF-其他 | 3.23% | -0.35% | +131.88% | |
| 9 | PATH | Uipath Inc - Class A | 股票-科技 | 2.76% | -0.67% | +331.46% | |
| 10 | XRT | Ss Spdr S&p Retail ETF | ETF-其他 | 2.26% | — | +100.00% | |
| 11 | FOUR | Shift4 Payments Inc-class A | 股票-科技 | 2.14% | -0.22% | EXIT | |
| 12 | PCG | P G & E CORP | 股票-公用事業 | 1.85% | -0.14% | — | |
| 13 | NTNX | Nutanix Inc - A | 股票-科技 | 1.81% | -0.85% | -27.57% | |
| 14 | KVUE | Kenvue Inc | 股票-非循環性消費 | 1.72% | — | +384.15% | |
| 15 | PRGO | Perrigo Company plc | 股票-醫療保健 | 1.54% | -0.16% | EXIT | |
| 16 | ALIT | Alight Inc - Class A | 股票-其他 | 1.43% | -0.08% | +67.77% | |
| 17 | ECL | Ecolab Inc | 股票-原物料 | 1.41% | +0.07% | -7.59% | |
| 18 | ITB | Ishares U.s. Home Constructi | ETF-其他 | 1.41% | — | +50.00% | |
| 19 | EIX | Edison International | 股票-公用事業 | 1.13% | — | — | |
| 20 | EWZ | Ishares Msci Brazil ETF | ETF-其他 | 1.13% | +2.05% | NEW | |
| 21 | CPRI | Capri Holdings Limited | 股票-循環性消費 | 1.10% | -0.71% | +3.18% | |
| 22 | CVS | Cvs Health CORP | 股票-醫療保健 | 1.02% | — | -56.34% | |
| 23 | DKS | Dick's Sporting Goods Inc | 股票-循環性消費 | 1.01% | -0.50% | — | |
| 24 | BIRK | Birkenstock Holding plc | 股票-其他 | 1.00% | -0.14% | -4.62% | |
| 25 | AA | Alcoa CORP | 股票-原物料 | 0.99% | -0.64% | — | |
| 26 | EXE | Expand Energy CORP | 股票-能源 | 0.99% | -0.08% | EXIT | |
| 27 | GLOB | Globant S.A. | 股票-科技 | 0.96% | -0.45% | -10.72% | |
| 28 | COPX | Global X Copper Miners ETF | ETF-其他 | 0.94% | -0.35% | — | |
| 29 | OC | Owens Corning | 股票-工業 | 0.89% | — | — | |
| 30 | FTAI | FTAI Aviation Ltd. | 股票-工業 | 0.89% | — | +90.77% | |
| 31 | HUT | Hut 8 CORP | 股票-金融 | 0.88% | +0.25% | NEW | |
| 32 | KRE | Ss Spdr S&p Regional Bank | ETF-其他 | 0.83% | — | -62.00% | |
| 33 | VRNS | Varonis Systems Inc | 股票-科技 | 0.80% | -0.12% | — | |
| 34 | EQT | Eqt CORP | 股票-能源 | 0.79% | -0.09% | EXIT | |
| 35 | GT | Goodyear Tire & Rubber Co | 股票-循環性消費 | 0.71% | -0.05% | EXIT | |
| 36 | WIX | Wix.com Ltd. | 股票-科技 | 0.68% | — | — | |
| 37 | GFR | Greenfire Resources LTD | 股票-其他 | 0.66% | — | -0.76% | |
| 38 | AER | AerCap Holdings N.V. | 股票-工業 | 0.64% | -0.18% | EXIT | |
| 39 | TECK | Teck Resources Ltd-cls B | 股票-原物料 | 0.62% | +0.14% | NEW | |
| 40 | PENN | Penn Entertainment Inc | 股票-循環性消費 | 0.61% | -0.27% | EXIT | |
| 41 | KWEB | Kranesh Csi China Internet | ETF-新興市場 | 0.59% | — | -44.94% | |
| 42 | IFF | Intl Flavors & Fragrances | 股票-原物料 | 0.58% | -0.18% | +68.11% | |
| 43 | NRG | Nrg Energy Inc | 股票-公用事業 | 0.57% | -0.43% | EXIT | |
| 44 | NOG | Northern Oil And Gas Inc | 股票-能源 | 0.56% | — | — | |
| 45 | ✓ | Ci&t Inc | 股票-其他 | 0.55% | -0.20% | -14.92% | |
| 46 | AMTM | Amentum Holdings Inc | 股票-工業 | 0.54% | — | -28.47% | |
| 47 | PLNT | Planet Fitness Inc - Cl A | 股票-循環性消費 | 0.52% | +0.42% | +35.27% | |
| 48 | MSFT | Microsoft CORP | 股票-科技 | 0.50% | +0.95% | -60.39% | |
| 49 | CCJ | Cameco CORP | 股票-能源 | 0.50% | -0.04% | +237.50% | |
| 50 | CLVT | Clarivate Plc | 股票-其他 | 0.48% | -0.07% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | TSLA | Tesla Inc | +8.9% | +415.39% | 加碼 |
| 2 | XLV | Ss Health Care Select Sector | +3.2% | +131.88% | 加碼 |
| 3 | PATH | Uipath Inc - Class A | +2.4% | +331.46% | 加碼 |
| 4 | ARKK | Ark Innovation ETF | +2.2% | -31.03% | 減碼 |
| 5 | IWM | Ishares Russell 2000 ETF | +2.2% | -21.43% | 減碼 |
| 6 | RBA | Rb Global Inc | +1.5% | -8.02% | 加碼 |
| 7 | THC | Tenet Healthcare CORP | +1.1% | -41.63% | 減碼 |
| 8 | COPX | Global X Copper Miners ETF | +0.7% | — | 加碼 |
| 9 | CVS | Cvs Health CORP | +0.7% | -56.34% | 加碼 |
| 10 | EQT | Eqt CORP | +0.6% | +250.54% | 加碼 |
| 11 | ALIT | Alight Inc - Class A | +0.6% | +67.77% | 加碼 |
| 12 | ECL | Ecolab Inc | +0.5% | -7.59% | 加碼 |
| 13 | NRG | Nrg Energy Inc | +0.5% | -47.37% | 加碼 |
| 14 | TECK | Teck Resources Ltd-cls B | +0.5% | — | 加碼 |
| 15 | BIRK | Birkenstock Holding plc | +0.5% | -4.62% | 加碼 |
| 16 | NTNX | Nutanix Inc - A | +0.5% | -27.57% | 減碼 |
| 17 | PRGO | Perrigo Company plc | +0.4% | +7.66% | 加碼 |
| 18 | EAT | Brinker International Inc | +0.4% | +250.88% | 加碼 |
| 19 | GFR | Greenfire Resources LTD | +0.4% | -0.76% | 加碼 |
| 20 | ✓ | On Holding AG | +0.3% | -12.28% | 加碼 |
| 21 | AMTM | Amentum Holdings Inc | +0.3% | -28.47% | 加碼 |
| 22 | CPRI | Capri Holdings Limited | +0.3% | +3.18% | 減碼 |
| 23 | GLOB | Globant S.A. | +0.3% | -10.72% | 加碼 |
| 24 | KWEB | Kranesh Csi China Internet | +0.2% | -44.94% | 減碼 |
| 25 | CLS | Celestica Inc | +0.2% | -54.89% | 加碼 |
| 26 | FOUR | Shift4 Payments Inc-class A | +0.1% | -12.34% | 減碼 |
| 27 | VTEX | Vtex | +0.1% | -6.16% | 加碼 |
| 28 | NOG | Northern Oil And Gas Inc | +0.1% | — | 加碼 |
| 29 | CENX | Century Aluminum Company | +0.1% | — | 加碼 |
| 30 | SRAD | Sportradar Group AG | +0.1% | -59.51% | 加碼 |
| 31 | CLVT | Clarivate Plc | +0.1% | — | 減碼 |
| 32 | CCL1EUR | Carnival CORP LTD | +0.1% | -57.89% | 減碼 |
| 33 | WCN | Waste Connections Inc | +0.1% | -15.83% | 加碼 |
| 34 | ✓ | Ci&t Inc | +0.1% | -14.92% | 減碼 |
| 35 | EPAM | Epam Systems Inc | +0.1% | — | 不變 |
| 36 | AMZN | Amazon.com Inc | 0% | -70.85% | 減碼 |
| 37 | MSFT | Microsoft CORP | 0% | -60.39% | 減碼 |
| 38 | AAPL | Apple Inc | 0% | — | 不變 |
| 39 | SHW | Sherwin-williams Co/the | 0% | -39.49% | 減碼 |
| 40 | SGML | Sigma Lithium CORP | 0% | +22.60% | 加碼 |
| 41 | LOW | Lowe's Cos Inc | 0% | -53.84% | 減碼 |
| 42 | PENN | Penn Entertainment Inc | -0.1% | -45.24% | 減碼 |
| 43 | ALB | Albemarle CORP | -0.1% | — | 減碼 |
| 44 | GT | Goodyear Tire & Rubber Co | -0.3% | -19.83% | 減碼 |
| 45 | BX | Blackstone Inc | -0.3% | -75.99% | 減碼 |
| 46 | AER | AerCap Holdings N.V. | -0.6% | -37.62% | 減碼 |
| 47 | EWZ | Ishares Msci Brazil ETF | -2.5% | -58.36% | 減碼 |
| 48 | SPY | Ss Spdr S&p 500 ETF Trust-us | -26.2% | -71.01% | 減碼 |
| 49 | QQQ | Invesco Qqq Trust Series 1 | — | EXIT | 清倉 |
| 50 | IVV | Ishares Core S&p 500 ETF | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，BW Gestao de Investimentos Ltda. 在 Q3 2025 季度的美股持倉總市值約為 US$50.5億，共申報了 109 個公開持股部位。
在 Q3 2025 季度，BW Gestao de Investimentos Ltda. 按市值排列的前三大核心持股分別為：IWM (11.6%)、TSLA (9.4%)、SPY (5.8%)。其中最大持股部位 IWM 佔據整體投資組合約 11.6% 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
IVV
市值: US$1.0億
本季最大獲利了結 / 清倉標的
QQQ
前期市值: US$4.7億
在 Q3 2025 季度中，BW Gestao de Investimentos Ltda. 共進行了 146 項持倉異動，包含新建倉 61 個部位、加碼 25 個部位、減碼 21 個部位以及清倉 39 個部位。 其中最大新建倉標的為 IVV。 本季清倉部位包含 QQQ。
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。