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: 0001316507
申報總市值
US$300.7億
US$300.7億
890 檔
17.7%
在 Q4 2025 的 13F 官方備案中，Calamos Advisors LLC 管理的美股投資組合規模來到 US$300.7億，整體持股檔數為 890 檔。
從 Q4 2025 申報觀察，Calamos Advisors LLC 採取防禦導向的調倉策略，本季減碼 80 檔個股並出清 36 檔部位，顯示機構在該時期進行風險控制與流動性回收。
從部位權重觀察，前 5 大標的（包含 NVDA, SPY, AAPL）累計市值佔比達 17.7%，是驅動 Calamos Advisors LLC 該季度整體投資組合績效表現的核心支柱。
僅顯示前 200 大持股（共 890 檔）
| # | 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 | NVDA | Nvidia CORP | 股票-科技 | 5.12% | -0.37% | -2.85% | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 4.18% | -1.17% | -17.29% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 4.07% | -0.40% | -2.43% | |
| 4 | MSFT | Microsoft CORP | 股票-科技 | 3.91% | -0.60% | -7.96% | |
| 5 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.73% | -0.14% | -2.26% | |
| 6 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.69% | -0.20% | +1.89% | |
| 7 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 1.92% | -0.68% | -9.23% | |
| 8 | AVGO | Broadcom Inc | 股票-科技 | 1.83% | -0.08% | +0.11% | |
| 9 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.65% | -0.25% | -2.25% | |
| 10 | TSLA | Tesla Inc | 股票-循環性消費 | 1.35% | -0.06% | -3.06% | |
| 11 | WDC 3 11-15-28債券 | Western Digital CORP | 債券 | 1.32% | +1.33% | -2.54% | |
| 12 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | 債券 | 1.12% | -0.19% | -15.39% | |
| 13 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.10% | +0.12% | -0.64% | |
| 14 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.09% | +0.05% | -3.90% | |
| 15 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 1.06% | -0.14% | -13.67% | |
| 16 | NFLX | Netflix Inc | 股票-通訊服務 | 0.95% | -0.25% | +844.79% | |
| 17 | V | Visa Inc-class A Shares | 股票-金融 | 0.92% | -0.07% | -2.70% | |
| 18 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.86% | -0.07% | -4.21% | |
| 19 | BA 6 10-15-27債券 | Boeing Co/the | 債券 | 0.81% | -0.04% | -9.20% | |
| 20 | WMT | Walmart Inc | 股票-非循環性消費 | 0.62% | -0.17% | -10.58% | |
| 21 | SPOT 0 03-15-26債券 | Spotify USA Inc | 債券 | 0.61% | — | -7.79% | |
| 22 | WFC | Wells Fargo & Co | 股票-金融 | 0.61% | -0.09% | -2.06% | |
| 23 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.56% | +0.05% | +2.93% | |
| 24 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | 債券 | 0.54% | -0.02% | +8.89% | |
| 25 | W 3.5 11-15-28債券 | Wayfair Inc | 債券 | 0.53% | -0.36% | EXIT | |
| 26 | XOM | Exxon Mobil CORP | 股票-能源 | 0.53% | -0.25% | -1.26% | |
| 27 | DUK 4.125 04-15-26債券 | Duke Energy CORP | 債券 | 0.53% | -0.31% | EXIT | |
| 28 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | 債券 | 0.52% | +0.09% | -25.91% | |
| 29 | MA | Mastercard Inc - A | 股票-金融 | 0.52% | -0.03% | -2.52% | |
| 30 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.51% | -0.12% | +1.89% | |
| 31 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 0.49% | -0.04% | -3.90% | |
| 32 | BAC | Bank Of America CORP | 股票-金融 | 0.48% | +0.02% | +2.35% | |
| 33 | HPE 7.625 09-01-27債券 | Hp Enterprise Co | 債券 | 0.47% | +0.29% | -10.73% | |
| 34 | SO 7.125 12-15-28 A債券 | Southern Co | 債券 | 0.47% | -0.03% | — | |
| 35 | ABNB 0 03-15-26債券 | Airbnb Inc | 債券 | 0.47% | — | — | |
| 36 | UBER 0.875 12-01-28 2028債券 | Uber Technologies Inc | 債券 | 0.46% | -0.03% | -1.86% | |
| 37 | MU | Micron Technology Inc | 股票-科技 | 0.43% | +0.81% | +0.79% | |
| 38 | MKSI 1.25 06-01-30債券 | Mks Inc | 債券 | 0.43% | +0.04% | +0.08% | |
| 39 | KKR 6.25 03-01-28 D債券 | Kkr & Co Inc | 債券 | 0.41% | -0.01% | -0.58% | |
| 40 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.41% | -0.13% | -11.70% | |
| 41 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.40% | -0.04% | +3.43% | |
| 42 | ON 0.5 03-01-29債券 | On Semiconductor CORP | 債券 | 0.38% | +0.12% | — | |
| 43 | SNOW 0 10-01-27債券 | Snowflake Inc | 債券 | 0.37% | -0.05% | +60.60% | |
| 44 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.37% | -0.05% | +15.03% | |
| 45 | MCHP 7.5 03-15-28債券 | Microchip Technology Inc | 債券 | 0.37% | -0.01% | +0.28% | |
| 46 | RIVN 4.625 03-15-29債券 | Rivian Auto Inc | 債券 | 0.36% | +0.01% | -0.02% | |
| 47 | ORCL | Oracle CORP | 股票-科技 | 0.36% | -0.03% | -26.59% | |
| 48 | APO 6.75 07-31-26債券 | Apollo Global Management | 債券 | 0.36% | — | -10.47% | |
| 49 | EEM | Ishares Msci Emerging Market | ETF-新興市場 | 0.35% | +0.05% | — | |
| 50 | CVX | Chevron CORP | 股票-能源 | 0.35% | -0.20% | -3.36% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +0.7% | +1.89% | 加碼 |
| 2 | WDC 3 11-15-28債券 | Western Digital CORP | +0.4% | -2.54% | 減碼 |
| 3 | LLY | Eli Lilly & Co | +0.3% | -0.64% | 減碼 |
| 4 | GOOG | Alphabet Inc-cl C | +0.2% | -3.90% | 減碼 |
| 5 | AAPL | Apple Inc | +0.2% | -2.43% | 減碼 |
| 6 | MU | Micron Technology Inc | +0.2% | +0.79% | 加碼 |
| 7 | DUK 4.125 04-15-26債券 | Duke Energy CORP | +0.2% | +47.42% | 加碼 |
| 8 | NFLX | Netflix Inc | +0.2% | +844.79% | 加碼 |
| 9 | MRK | Merck & Co. Inc. | +0.1% | +52.84% | 加碼 |
| 10 | SNOW 0 10-01-27債券 | Snowflake Inc | +0.1% | +60.60% | 加碼 |
| 11 | ALB 7.25 03-01-27債券 | Albemarle CORP | +0.1% | +21.25% | 加碼 |
| 12 | IQV | Iqvia Holdings Inc | +0.1% | +268.09% | 加碼 |
| 13 | JAZZ 3.125 09-15-30債券 | Jazz Investments I LTD | +0.1% | +84.33% | 加碼 |
| 14 | AVGO | Broadcom Inc | +0.1% | +0.11% | 加碼 |
| 15 | AMZN | Amazon.com Inc | +0.1% | -2.26% | 減碼 |
| 16 | TMO | Thermo Fisher Scientific Inc | +0.1% | +15.03% | 加碼 |
| 17 | LITE 1.5 12-15-29債券 | Lumentum Holdings Inc | +0.1% | -21.64% | 減碼 |
| 18 | ISRG | Intuitive Surgical Inc | +0.1% | +19.97% | 加碼 |
| 19 | ✓ | Realogy Hldgs CORP Com | +0.1% | +526.75% | 加碼 |
| 20 | CRM | Salesforce Inc | +0.1% | +34.99% | 加碼 |
| 21 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | +0.1% | +0.09% | 加碼 |
| 22 | BRKR 6.375 09-01-28債券 | Bruker CORP | +0.1% | +41.33% | 加碼 |
| 23 | AMAT | Applied Materials Inc | +0.1% | +34.49% | 加碼 |
| 24 | C | Citigroup Inc | +0.1% | +23.64% | 加碼 |
| 25 | AEIS 2.5 09-15-28債券 | Advanced Energy Ind | +0.1% | +12.86% | 加碼 |
| 26 | GS | Goldman Sachs Group Inc | +0.1% | +2.93% | 加碼 |
| 27 | LRCX | Lam Research CORP | +0.1% | +8.91% | 加碼 |
| 28 | IBB | Ishares Biotechnology ETF | +0.1% | +8.84% | 加碼 |
| 29 | JD 0.25 06-01-29債券 | Jd.com Inc | +0.1% | +51.69% | 加碼 |
| 30 | EVRG 4.5 12-15-27債券 | Evergy Inc | +0.1% | +32.95% | 加碼 |
| 31 | CVS | Cvs Health CORP | +0.1% | +92.58% | 加碼 |
| 32 | CSX | Csx CORP | +0.1% | +34.43% | 加碼 |
| 33 | JNJ | Johnson & Johnson | +0.1% | +1.89% | 加碼 |
| 34 | MKSI 1.25 06-01-30債券 | Mks Inc | +0.1% | +0.08% | 加碼 |
| 35 | RIVN 4.625 03-15-29債券 | Rivian Auto Inc | +0.1% | -0.02% | 減碼 |
| 36 | RGEN 1 12-15-28債券 | Repligen CORP | +0.1% | +3526.70% | 加碼 |
| 37 | FCX | Freeport-mcmoran Inc | +0.1% | +13.40% | 加碼 |
| 38 | AMD | Advanced Micro Devices | +0.1% | -8.99% | 減碼 |
| 39 | WFC | Wells Fargo & Co | +0.1% | -2.06% | 減碼 |
| 40 | DG | Dollar General CORP | +0.1% | +32.88% | 加碼 |
| 41 | MDT | Medtronic plc | +0.1% | +24.69% | 加碼 |
| 42 | ✓ | Cyberark Software LTD. Cmn | +0.1% | +54.29% | 加碼 |
| 43 | APP | Applovin Corp-class A | +0.1% | +73.27% | 加碼 |
| 44 | RIVN 3.625 10-15-30債券 | Rivian Auto Inc | +0.1% | — | 不變 |
| 45 | SPGI | S&p Global Inc | +0.1% | +15.77% | 加碼 |
| 46 | DHR | Danaher CORP | +0.1% | +9.03% | 加碼 |
| 47 | BAC | Bank Of America CORP | +0.1% | +2.35% | 加碼 |
| 48 | FROG | JFrog Ltd. | 0% | +280.13% | 加碼 |
| 49 | RKLB | Rocket Lab CORP | 0% | +628.18% | 加碼 |
| 50 | GM | General Motors Co | 0% | -2.11% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Calamos Advisors LLC 在 Q4 2025 季度的美股持倉總市值約為 US$300.7億，共申報了 890 個公開持股部位。
在 Q4 2025 季度，Calamos Advisors LLC 按市值排列的前三大核心持股分別為：NVDA (5.1%)、SPY (4.2%)、AAPL (4.1%)。其中最大持股部位 NVDA 佔據整體投資組合約 5.1% 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
SO 7.125 12-15-28 A
市值: US$1.3億
本季最大獲利了結 / 清倉標的
AXON 0.5 12-15-27
前期市值: US$1.0億
在 Q4 2025 季度中，Calamos Advisors LLC 共進行了 197 項持倉異動，包含新建倉 25 個部位、加碼 56 個部位、減碼 80 個部位以及清倉 36 個部位。 其中最大新建倉標的為 SO 7.125 12-15-28 A。 本季清倉部位包含 AXON 0.5 12-15-27。
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。