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: 0001632813
申報總市值
US$118.0億
US$118.0億
292 檔
17.7%
CMT Capital Markets Trading GmbH 在 Q1 2025 季度的美股部位總計估值為 US$118.0億，分散於 292 個持倉標的之中，反映其市場參與廣度與投資規模。
從 Q1 2025 申報觀察，CMT Capital Markets Trading GmbH 採取防禦導向的調倉策略，本季減碼 80 檔個股並出清 52 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 NFLX, META, META PLATFORMS INC）累計市值佔比達 17.7%，是驅動 CMT Capital Markets Trading GmbH 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 292 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 | NFLX | Netflix, Inc. | 股票-通訊服務 | 8.75% | -0.69% | +0.41% | |
| 2 | META | Meta Platforms, Inc. | 股票-通訊服務 | 5.53% | -0.81% | -10.99% | |
| 3 | ✓ | Meta Platforms Inc | 股票-其他 | 5.03% | -0.30% | +1.68% | |
| 4 | MSFT | Microsoft Corporation | 股票-科技 | 4.50% | +0.37% | +58.12% | |
| 5 | AAPL | Apple Inc. | 股票-科技 | 3.88% | +0.25% | +44.94% | |
| 6 | JPM | JPMorgan Chase & Co. | 股票-金融 | 3.59% | -0.18% | -18.39% | |
| 7 | JPM | JPMorgan Chase & Co. | 股票-金融 | 2.99% | -0.10% | -7.08% | |
| 8 | GOOG | Alphabet Inc. | 股票-通訊服務 | 2.35% | -0.10% | -8.60% | |
| 9 | C | Citigroup Inc. | 股票-金融 | 2.11% | -1.45% | -33.33% | |
| 10 | ADBE | Adobe Inc. | 股票-科技 | 2.09% | -1.65% | -23.49% | |
| 11 | DIS | The Walt Disney Company | 股票-通訊服務 | 2.01% | -0.01% | -3.18% | |
| 12 | SPY | State Street SPDR S&P 500 ETF Trust | ETF-大型股與成長 | 1.62% | +0.15% | +94.22% | |
| 13 | SMHC | VanEck China Semiconductor ETF | ETF-新興市場 | 1.59% | -1.61% | -37.22% | |
| 14 | C | Citigroup Inc. | 股票-金融 | 1.53% | -1.10% | -31.11% | |
| 15 | GS | The Goldman Sachs Group, Inc. | 股票-金融 | 1.50% | +2.26% | +1598.36% | |
| 16 | ✓ | Alphabet Inc | 股票-其他 | 1.42% | +0.53% | +16.51% | |
| 17 | INDS | Pacer Benchmark Industrial Real Estate SCTR ETF | ETF-其他 | 1.40% | -0.12% | -4.20% | |
| 18 | ✓ | Spdr S&P 500 Etf Tr Put Option | ETF-大型股與成長 | 1.40% | -0.13% | +147.51% | |
| 19 | MSFT | Microsoft Corporation | 股票-科技 | 1.29% | +0.38% | +17.14% | |
| 20 | SMHC | VanEck China Semiconductor ETF | ETF-新興市場 | 1.27% | -0.97% | -54.12% | |
| 21 | TSLA | Tesla, Inc. | 股票-循環性消費 | 1.24% | +0.16% | +24.72% | |
| 22 | GS | The Goldman Sachs Group, Inc. | 股票-金融 | 1.22% | +1.04% | +651.79% | |
| 23 | TSLA | Tesla, Inc. | 股票-循環性消費 | 1.20% | +0.57% | -29.68% | |
| 24 | AMZN | Amazon.com, Inc. | 股票-循環性消費 | 1.12% | -0.21% | +1.64% | |
| 25 | AVGO | Broadcom Inc. | 股票-科技 | 1.09% | +0.04% | -52.73% | |
| 26 | CRM | Salesforce, Inc. | 股票-科技 | 1.04% | +0.24% | -7.26% | |
| 27 | IBM | International Business Machines Corporation | 股票-科技 | 0.96% | +0.05% | -7.52% | |
| 28 | AVGO | Broadcom Inc. | 股票-科技 | 0.95% | -0.04% | -34.85% | |
| 29 | AXP | American Express Company | 股票-金融 | 0.94% | -0.13% | +86.65% | |
| 30 | BABA | Alibaba Group Holding Limited | 股票-循環性消費 | 0.94% | -0.48% | +11.20% | |
| 31 | HOOD | Robinhood Markets, Inc. | 股票-金融 | 0.86% | +0.02% | -22.99% | |
| 32 | NFLX | Netflix, Inc. | 股票-通訊服務 | 0.82% | -0.14% | -46.28% | |
| 33 | WFC | Wells Fargo & Company | 股票-金融 | 0.74% | -0.10% | +40.93% | |
| 34 | AVGO | Broadcom Inc. | 股票-科技 | 0.74% | +0.07% | -7.32% | |
| 35 | COIN | Coinbase Global, Inc. | 股票-金融 | 0.73% | -0.12% | -18.40% | |
| 36 | PYPL | PayPal Holdings, Inc. | 股票-金融 | 0.72% | -0.11% | +142.79% | |
| 37 | ✓ | Adobe Inc | 股票-其他 | 0.68% | +1.56% | +7.61% | |
| 38 | ✓ | Pdd Holdings Inc | 股票-其他 | 0.68% | +0.11% | -41.83% | |
| 39 | SBUX | Starbucks Corporation | 股票-循環性消費 | 0.66% | -0.27% | -13.55% | |
| 40 | SHOP | Shopify Inc. | 股票-科技 | 0.66% | -0.65% | -45.33% | |
| 41 | MCHX | Marchex, Inc. | 股票-其他 | 0.64% | +0.04% | -66.97% | |
| 42 | MA | Mastercard Incorporated | 股票-金融 | 0.63% | — | -41.20% | |
| 43 | SBUX | Starbucks Corporation | 股票-循環性消費 | 0.62% | -0.19% | +41.91% | |
| 44 | BABA | Alibaba Group Holding Limited | 股票-循環性消費 | 0.62% | -0.18% | +23.18% | |
| 45 | BAC | Bank of America Corporation | 股票-金融 | 0.58% | -0.01% | -45.20% | |
| 46 | ✓ | Pdd Holdings Inc | 股票-其他 | 0.57% | +0.06% | -7.91% | |
| 47 | ✓ | Invesco QQQ Tr Put Option 06/2 | 股票-其他 | 0.53% | -0.08% | +67.98% | |
| 48 | IBM | International Business Machines Corporation | 股票-科技 | 0.53% | +0.14% | -35.48% | |
| 49 | AMD | Advanced Micro Devices, Inc. | 股票-科技 | 0.50% | +0.83% | +7.42% | |
| 50 | GLD | SPDR Gold Shares | ETF-避險與商品 | 0.49% | -1.01% | +1088.79% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | NFLX | Netflix, Inc. | +2.6% | +0.41% | 減碼 |
| 2 | JPM | JPMorgan Chase & Co. | +2.1% | -7.08% | 加碼 |
| 3 | GOOG | Alphabet Inc. | +2% | -8.60% | 加碼 |
| 4 | SMHC | VanEck China Semiconductor ETF | +1.5% | -37.22% | 加碼 |
| 5 | INDS | Pacer Benchmark Industrial Real Estate SCTR ETF | +1.4% | -4.20% | 加碼 |
| 6 | MSFT | Microsoft Corporation | +1.4% | +58.12% | 減碼 |
| 7 | ✓ | Meta Platforms Inc | +1.2% | +1.68% | 減碼 |
| 8 | SMHC | VanEck China Semiconductor ETF | +1.2% | -54.12% | 加碼 |
| 9 | JPM | JPMorgan Chase & Co. | +1.1% | -18.39% | 減碼 |
| 10 | ✓ | Alphabet Inc | +1.1% | +16.51% | 加碼 |
| 11 | ADBE | Adobe Inc. | +1.1% | -23.49% | 加碼 |
| 12 | GS | The Goldman Sachs Group, Inc. | +1% | +1598.36% | 加碼 |
| 13 | IBM | International Business Machines Corporation | +0.9% | -7.52% | 加碼 |
| 14 | AXP | American Express Company | +0.8% | +86.65% | 加碼 |
| 15 | AVGO | Broadcom Inc. | +0.8% | -52.73% | 加碼 |
| 16 | C | Citigroup Inc. | +0.8% | -33.33% | 減碼 |
| 17 | AAPL | Apple Inc. | +0.7% | +44.94% | 減碼 |
| 18 | SBUX | Starbucks Corporation | +0.6% | -13.55% | 加碼 |
| 19 | COIN | Coinbase Global, Inc. | +0.6% | -18.40% | 加碼 |
| 20 | SBUX | Starbucks Corporation | +0.5% | +41.91% | 加碼 |
| 21 | C | Citigroup Inc. | +0.5% | -31.11% | 減碼 |
| 22 | WFC | Wells Fargo & Company | +0.4% | +40.93% | 減碼 |
| 23 | COIN | Coinbase Global, Inc. | +0.4% | -40.70% | 加碼 |
| 24 | SBUX | Starbucks CORP | +0.4% | +14.32% | 加碼 |
| 25 | ORCL | Oracle Corporation | +0.4% | -1.87% | 加碼 |
| 26 | META | Meta Platforms Inc-class A | +0.4% | +1751.79% | 加碼 |
| 27 | SHOP | Shopify Inc. | +0.4% | -45.33% | 加碼 |
| 28 | CRM | Salesforce, Inc. | +0.3% | -7.26% | 減碼 |
| 29 | ORCL | Oracle Corporation | +0.3% | -35.37% | 加碼 |
| 30 | ASML | ASML Holding N.V. | +0.2% | +42.07% | 加碼 |
| 31 | QCOM | QUALCOMM Incorporated | +0.2% | -52.86% | 加碼 |
| 32 | PFE | Pfizer Inc. | +0.2% | +8.38% | 加碼 |
| 33 | SHOP | Shopify Inc. | +0.1% | -36.52% | 加碼 |
| 34 | MU | Micron Technology, Inc. | +0.1% | +1239.00% | 加碼 |
| 35 | V | Visa Inc. | 0% | -29.82% | 減碼 |
| 36 | ✓ | Pdd Holdings Inc | 0% | -41.83% | 減碼 |
| 37 | ✓ | Intel CORP | 0% | +29.46% | 加碼 |
| 38 | FDX | FedEx Corporation | — | -64.71% | 減碼 |
| 39 | EA | Electronic Arts Inc. | — | -43.64% | 減碼 |
| 40 | CRM | Salesforce, Inc. | 0% | +27.39% | 減碼 |
| 41 | AMZN | Amazon.com, Inc. | 0% | +1.64% | 加碼 |
| 42 | AMD | Advanced Micro Devices | 0% | — | 減碼 |
| 43 | GRPN | Groupon, Inc. | 0% | +101.74% | 減碼 |
| 44 | NEM | Newmont Corporation | 0% | -45.04% | 減碼 |
| 45 | ✓ | Apa Corporation | 0% | -24.25% | 減碼 |
| 46 | ✓ | Apa Corporation | 0% | -45.00% | 減碼 |
| 47 | B | Barrick Mining Corporation | -0.1% | -46.53% | 減碼 |
| 48 | LVS | Las Vegas Sands Corp. | -0.1% | -80.96% | 減碼 |
| 49 | FCX | Freeport-McMoRan Inc. | -0.1% | -44.31% | 減碼 |
| 50 | JD | JD.com, Inc. | -0.1% | -27.73% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，CMT Capital Markets Trading GmbH 在 Q1 2025 季度的美股持倉總市值約為 US$118.0億，共申報了 292 個公開持股部位。
在 Q1 2025 季度，CMT Capital Markets Trading GmbH 按市值排列的前三大核心持股分別為：NFLX (8.8%)、META (5.5%)、META PLATFORMS INC (5.0%)。其中最大持股部位 NFLX 佔據整體投資組合約 8.8% 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$1.2億
本季最大獲利了結 / 清倉標的
BEYOND MEAT INC
前期市值: US$7332.7萬
在 Q1 2025 季度中，CMT Capital Markets Trading GmbH 共進行了 200 項持倉異動，包含新建倉 38 個部位、加碼 30 個部位、減碼 80 個部位以及清倉 52 個部位。 其中最大新建倉標的為 SPY。 本季清倉部位包含 BEYOND MEAT INC。
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。