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: 0001787258
申報總市值
US$27.2億
US$27.2億
383 檔
9.4%
截至 Q4 2025 季度末，Cinctive Capital Management LP 的美股持倉估值約為 US$27.2億，全數申報部位共有 383 檔。
Cinctive Capital Management LP 在 Q4 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 118 檔，反映機構對當前市場環境或個別公司估值採取較為保留之看法。
檢視投資組合結構，前 5 大主力部位（包含 SPY, VST, CVX）占據了總市值的 9.4%，展現出該機構在 Q4 2025 的重點資金聚焦與風險分佈特徵。
僅顯示前 200 大持股（共 383 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 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 5.17% | +4.82% | NEW | |
| 2 | VST | Vistra CORP | 股票-公用事業 | 2.91% | +0.50% | +50.69% | |
| 3 | CVX | Chevron CORP | 股票-能源 | 1.98% | — | +448.08% | |
| 4 | FYBR | Frontier Communications Pare | 股票-其他 | 1.97% | — | +26.44% | |
| 5 | EXK | Exact Sciences CORP | 股票-原物料 | 1.81% | — | +1359.27% | |
| 6 | ✓ | Cyberark Software LTD. Cmn | 股票-其他 | 1.78% | — | +11.68% | |
| 7 | ✓ | Lifezone Metalslimited | 股票-其他 | 1.60% | -0.48% | +66.84% | |
| 8 | KMI | Kinder Morgan, Inc. | 股票-能源 | 1.40% | +0.64% | NEW | |
| 9 | SRE | Sempra | 股票-公用事業 | 1.40% | -0.28% | -0.27% | |
| 10 | TEAM | Atlassian Corp-cl A | 股票-科技 | 1.36% | — | — | |
| 11 | NVDA | Nvidia CORP | 股票-科技 | 1.29% | -0.45% | +63.03% | |
| 12 | CEG | Constellation Energy | 股票-公用事業 | 1.24% | -1.42% | EXIT | |
| 13 | ROST | Ross Stores Inc | 股票-循環性消費 | 1.18% | -0.34% | -41.38% | |
| 14 | BAC | Bank Of America CORP | 股票-金融 | 1.14% | +0.34% | NEW | |
| 15 | WBI | Waterbridge Infrastruc-cl A | 股票-其他 | 1.12% | -0.78% | +43.31% | |
| 16 | EXE | Expand Energy CORP | 股票-能源 | 1.09% | -0.27% | -23.77% | |
| 17 | VLO | Valero Energy CORP | 股票-能源 | 1.08% | -1.95% | +102.51% | |
| 18 | CVLT | Commvault Systems Inc | 股票-科技 | 1.07% | — | — | |
| 19 | HBAN | Huntington Bancshares Inc | 股票-金融 | 0.99% | -0.30% | EXIT | |
| 20 | HUBS | Hubspot Inc | 股票-科技 | 0.95% | — | +10.35% | |
| 21 | ✓ | Rice Acquisition CORP 3 | 股票-其他 | 0.92% | -0.47% | — | |
| 22 | FFIV | F5 Inc | 股票-科技 | 0.89% | — | — | |
| 23 | PEG | Public Service Enterprise Gp | 股票-公用事業 | 0.86% | -0.45% | EXIT | |
| 24 | HO1 | Hologic Inc | 股票-其他 | 0.85% | — | +216.25% | |
| 25 | COF | Capital One Financial CORP | 股票-金融 | 0.85% | +0.42% | +9.99% | |
| 26 | JBS | Jbs N.v. | 股票-其他 | 0.84% | -0.07% | +40.99% | |
| 27 | C | Citigroup Inc | 股票-金融 | 0.78% | -0.50% | -29.17% | |
| 28 | MS | Morgan Stanley | 股票-金融 | 0.78% | -0.63% | +6003.32% | |
| 29 | 8QR | Confluent Inc-class A | 股票-其他 | 0.74% | — | -14.00% | |
| 30 | BIRK | Birkenstock Holding plc | 股票-其他 | 0.73% | -0.30% | EXIT | |
| 31 | TXRH | Texas Roadhouse Inc | 股票-循環性消費 | 0.73% | -0.62% | -28.53% | |
| 32 | ORLY | O'reilly Automotive Inc | 股票-循環性消費 | 0.71% | +0.46% | +84.36% | |
| 33 | NRG | Nrg Energy Inc | 股票-公用事業 | 0.69% | — | — | |
| 34 | CHDN | Churchill Downs Inc | 股票-循環性消費 | 0.67% | +0.97% | -44.19% | |
| 35 | HD | Home Depot Inc | 股票-循環性消費 | 0.66% | -0.51% | -36.81% | |
| 36 | FIVE | Five Below | 股票-循環性消費 | 0.65% | -0.24% | +44.39% | |
| 37 | NSC | Norfolk Southern CORP | 股票-工業 | 0.64% | +0.20% | NEW | |
| 38 | FHN | First Horizon CORP | 股票-金融 | 0.62% | -0.31% | +18.42% | |
| 39 | EVR | Evercore Inc - A | 股票-金融 | 0.60% | +0.28% | NEW | |
| 40 | BL | Blackline Inc | 股票-科技 | 0.60% | — | +30.54% | |
| 41 | MRCY | Mercury Systems Inc | 股票-工業 | 0.58% | -0.03% | EXIT | |
| 42 | RL | Ralph Lauren CORP | 股票-循環性消費 | 0.58% | -0.57% | — | |
| 43 | NIQ | NIQ Global Intelligence plc | 股票-其他 | 0.57% | +0.33% | -20.58% | |
| 44 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.57% | -0.07% | — | |
| 45 | APPN | Appian Corp-a | 股票-其他 | 0.57% | — | +58.99% | |
| 46 | TGT | Target CORP | 股票-循環性消費 | 0.56% | -1.02% | +324.87% | |
| 47 | MU | Micron Technology Inc | 股票-科技 | 0.56% | -0.30% | -41.12% | |
| 48 | NEE | Nextera Energy Inc | 股票-公用事業 | 0.53% | +1.00% | NEW | |
| 49 | DT | Dynatrace Inc | 股票-科技 | 0.53% | -0.03% | EXIT | |
| 50 | SF | Stifel Financial CORP | 股票-金融 | 0.52% | -0.16% | +1908.59% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | EXK | Exact Sciences CORP | +1.8% | +1359.27% | 加碼 |
| 2 | CVX | Chevron CORP | +1.7% | +448.08% | 加碼 |
| 3 | VST | Vistra CORP | +0.8% | +50.69% | 加碼 |
| 4 | MS | Morgan Stanley | +0.8% | +6003.32% | 加碼 |
| 5 | HO1 | Hologic Inc | +0.6% | +216.25% | 加碼 |
| 6 | FYBR | Frontier Communications Pare | +0.6% | +26.44% | 加碼 |
| 7 | VLO | Valero Energy CORP | +0.6% | +102.51% | 加碼 |
| 8 | NVDA | Nvidia CORP | +0.6% | +63.03% | 加碼 |
| 9 | HBAN | Huntington Bancshares Inc | +0.5% | +83.93% | 加碼 |
| 10 | ✓ | Lifezone Metalslimited | +0.5% | +66.84% | 加碼 |
| 11 | SF | Stifel Financial CORP | +0.5% | +1908.59% | 加碼 |
| 12 | TGT | Target CORP | +0.5% | +324.87% | 加碼 |
| 13 | CEG | Constellation Energy | +0.4% | +15.76% | 加碼 |
| 14 | FIVE | Five Below | +0.3% | +44.39% | 加碼 |
| 15 | ORLY | O'reilly Automotive Inc | +0.3% | +84.36% | 加碼 |
| 16 | PWR | Quanta Services Inc | +0.3% | +193.50% | 加碼 |
| 17 | APPN | Appian Corp-a | +0.3% | +58.99% | 加碼 |
| 18 | JBS | Jbs N.v. | +0.3% | +40.99% | 加碼 |
| 19 | DAY | Dayforce Inc | +0.3% | +1076.14% | 加碼 |
| 20 | ANF | Abercrombie & Fitch Co-cl A | +0.3% | +350.48% | 加碼 |
| 21 | AS | Amer Sports, Inc. | +0.3% | +491.94% | 加碼 |
| 22 | BEN | Franklin Resources Inc | +0.2% | +216.37% | 加碼 |
| 23 | ASML | ASML Holding N.V. | +0.2% | +64.51% | 加碼 |
| 24 | AM | Antero Midstream CORP | +0.2% | +235.93% | 加碼 |
| 25 | REGN | Regeneron Pharmaceuticals | +0.2% | +227.47% | 加碼 |
| 26 | TWLO | Twilio Inc - A | +0.2% | +40.74% | 加碼 |
| 27 | SPGI | S&p Global Inc | +0.2% | +1250.00% | 加碼 |
| 28 | BAC | Bank Of America CORP | -0.1% | -21.64% | 減碼 |
| 29 | EXE | Expand Energy CORP | -0.1% | -23.77% | 減碼 |
| 30 | ARGX | Argenx Se - Adr | -0.1% | -46.29% | 減碼 |
| 31 | ✓ | On Holding AG | -0.1% | -43.06% | 減碼 |
| 32 | WTTR | Select Water Solutions Inc | -0.2% | -54.95% | 減碼 |
| 33 | TXRH | Texas Roadhouse Inc | -0.2% | -28.53% | 減碼 |
| 34 | INTC | Intel CORP | -0.2% | -55.52% | 減碼 |
| 35 | CFG | Citizens Financial Group | -0.2% | -43.43% | 減碼 |
| 36 | IRTC | Irhythm Holdings Inc | -0.2% | -82.26% | 減碼 |
| 37 | DXCM | Dexcom Inc | -0.2% | -90.16% | 減碼 |
| 38 | VOO | Vanguard S&P 500 ETF | -0.2% | -33.66% | 減碼 |
| 39 | OI | O-i Glass Inc | -0.2% | -91.95% | 減碼 |
| 40 | PODD | Insulet CORP | -0.2% | -74.40% | 減碼 |
| 41 | 6D8 | Dupont De Nemours Inc | -0.2% | -91.00% | 減碼 |
| 42 | CHDN | Churchill Downs Inc | -0.2% | -44.19% | 減碼 |
| 43 | IBKR | Interactive Brokers Gro-cl A | -0.2% | -50.85% | 減碼 |
| 44 | SLV | Ishares Silver Trust | -0.2% | -75.00% | 減碼 |
| 45 | GAP | Gap Inc/the | -0.3% | -69.71% | 減碼 |
| 46 | VOYA | Voya Financial Inc | -0.3% | -90.04% | 減碼 |
| 47 | TNET | Trinet Group Inc | -0.3% | -70.37% | 減碼 |
| 48 | CYTK | Cytokinetics Inc | -0.3% | -93.79% | 減碼 |
| 49 | CNP | Centerpoint Energy Inc | -0.3% | -59.63% | 減碼 |
| 50 | COHR | Coherent CORP | -0.3% | -94.11% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Cinctive Capital Management LP 在 Q4 2025 季度的美股持倉總市值約為 US$27.2億，共申報了 383 個公開持股部位。
在 Q4 2025 季度，Cinctive Capital Management LP 按市值排列的前三大核心持股分別為：SPY (5.2%)、VST (2.9%)、CVX (2.0%)。其中最大持股部位 SPY 佔據整體投資組合約 5.2% 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
SPY
市值: US$9546.9萬
本季最大獲利了結 / 清倉標的
FLR
前期市值: US$3119.2萬
在 Q4 2025 季度中，Cinctive Capital Management LP 共進行了 200 項持倉異動，包含新建倉 55 個部位、加碼 27 個部位、減碼 49 個部位以及清倉 69 個部位。 其中最大新建倉標的為 SPY。 本季清倉部位包含 FLR。
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。