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: 0001909846
申報總市值
US$1.7億
US$1.7億
2796 檔
7.6%
在 Q4 2025 的 13F 官方備案中，Covestor Ltd 管理的美股投資組合規模來到 US$1.7億，整體持股檔數為 2796 檔。
Covestor Ltd 於 Q4 2025 展現出進攻型調倉步調，本季推動了 2 檔股票的新建倉與 30 檔既有部位加碼，整體資金傾向擴大在美股市場的曝險佈局。
在資產配置集中度方面，Covestor Ltd 的前 5 大核心持股（包含 VEA, VTI, NVDA 等）合計佔整體申報市值的 7.6%，反映機構在主要關鍵部位上的權重分佈。
本季最大新建倉標的
MTW
市值: US$34.0萬
本季最大獲利了結 / 清倉標的
ETNBGBP
前期市值: US$31.4萬
僅顯示前 200 大持股（共 2796 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 | VEA | Vanguard Ftse Developed ETF | ETF-其他 | 1.66% | -0.20% | +4.84% | |
| 2 | VTI | Vanguard Total Stock Mkt ETF | ETF-其他 | 1.64% | +0.02% | +1.42% | |
| 3 | NVDA | Nvidia CORP | 股票-科技 | 1.45% | -0.40% | -2.10% | |
| 4 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 1.12% | -0.09% | +1.97% | |
| 5 | WULF | Terawulf Inc | 股票-金融 | 0.99% | +0.58% | +73.79% | |
| 6 | MSFT | Microsoft CORP | 股票-科技 | 0.91% | -0.11% | +1.97% | |
| 7 | AAPL | Apple Inc | 股票-科技 | 0.90% | — | +5.49% | |
| 8 | VYM | Vanguard High Dvd Yield ETF | ETF-其他 | 0.83% | -0.12% | +4.79% | |
| 9 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.80% | -0.09% | -6.68% | |
| 10 | JOE | St Joe Co/the | 股票-其他 | 0.79% | -0.18% | +7.20% | |
| 11 | ECHO | Echostar Corp-a | 股票-通訊服務 | 0.72% | +0.54% | -9.13% | |
| 12 | SPXL | Direxion Daily S&p 500 Bull | ETF-大型股與成長 | 0.62% | +0.14% | +1.13% | |
| 13 | AMZN | Amazon.com Inc | 股票-循環性消費 | 0.60% | -0.06% | +2.58% | |
| 14 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.59% | -0.23% | +1.50% | |
| 15 | BW | Babcock & Wilcox Enterpr | 股票-其他 | 0.58% | +0.90% | NEW | |
| 16 | CRS | Carpenter Technology | 股票-工業 | 0.58% | -0.05% | +334.33% | |
| 17 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.51% | +0.03% | -8.67% | |
| 18 | HUT | Hut 8 CORP | 股票-金融 | 0.51% | +0.52% | +355350.00% | |
| 19 | FWRD | Forward Air CORP | 股票-其他 | 0.51% | -0.49% | +123.27% | |
| 20 | CORZ | Core Scientific Inc | 股票-科技 | 0.50% | +0.22% | +224.06% | |
| 21 | NBIS | Nebius Group N.V. | 股票-其他 | 0.49% | -0.41% | +34.86% | |
| 22 | ✓ | Avadel Pharmaceuticals PLC ADR | 股票-其他 | 0.48% | — | +357283.33% | |
| 23 | KD | Kyndryl Holdings Inc | 股票-科技 | 0.47% | -0.27% | +9.51% | |
| 24 | BND | Vanguard Total Bond Market | ETF-其他 | 0.46% | -0.07% | +12.56% | |
| 25 | OSK | Oshkosh CORP | 股票-工業 | 0.46% | -0.09% | -3.99% | |
| 26 | AVGO | Broadcom Inc | 股票-科技 | 0.42% | -0.02% | +5.06% | |
| 27 | MLI | Mueller Industries Inc | 股票-工業 | 0.36% | — | +174.70% | |
| 28 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 0.35% | -0.08% | -19.87% | |
| 29 | KALU | Kaiser Aluminum CORP | 股票-其他 | 0.35% | — | +584300.00% | |
| 30 | YEXT | Yext Inc | 股票-其他 | 0.35% | -0.10% | +61.93% | |
| 31 | ABG | Asbury Automotive Group | 股票-循環性消費 | 0.34% | -0.05% | — | |
| 32 | MA | Mastercard Inc - A | 股票-金融 | 0.33% | -0.06% | -1.26% | |
| 33 | HA7 | Enviri CORP | 股票-其他 | 0.32% | -0.47% | EXIT | |
| 34 | DE | Deere & Co | 股票-工業 | 0.32% | -0.04% | +7.18% | |
| 35 | ROK | Rockwell Automation Inc | 股票-工業 | 0.32% | +0.51% | +764.48% | |
| 36 | VISN | Vistance Networks Inc | 股票-科技 | 0.32% | +0.07% | +1.39% | |
| 37 | RAL | Ralliant CORP | 股票-科技 | 0.31% | -0.01% | +4096.74% | |
| 38 | ONDS | Ondas Inc | 股票-科技 | 0.29% | -0.86% | EXIT | |
| 39 | PDYN | Palladyne Ai CORP | 股票-其他 | 0.28% | -0.30% | +482.18% | |
| 40 | BHF | Brighthouse Financial Inc | 股票-金融 | 0.28% | +0.02% | +20.49% | |
| 41 | LCII | Lci Industries | 股票-循環性消費 | 0.28% | -0.01% | +245.92% | |
| 42 | MUB | Ishares National Muni Bond E | ETF-其他 | 0.27% | -0.03% | +11.16% | |
| 43 | SCHP | Schwab U.s. Tips ETF | ETF-其他 | 0.26% | -0.04% | +11.67% | |
| 44 | V | Visa Inc-class A Shares | 股票-金融 | 0.26% | -0.03% | -3.02% | |
| 45 | SEM | Select Medical Holdings CORP | 股票-其他 | 0.25% | -0.02% | +110.03% | |
| 46 | USHY | Ishares Broad Usd High Yield | ETF-非投資等級債 | 0.25% | -0.03% | +10.21% | |
| 47 | AA | Alcoa CORP | 股票-原物料 | 0.24% | +0.01% | +314.27% | |
| 48 | CNXC | Concentrix CORP | 股票-科技 | 0.24% | — | +5.12% | |
| 49 | SPHR | Sphere Entertainment Co | 股票-通訊服務 | 0.24% | +0.01% | -9.27% | |
| 50 | VO | Vanguard Mid-cap ETF | ETF-其他 | 0.24% | +0.01% | +3.92% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | HUT | Hut 8 CORP | +0.5% | +355350.00% | 加碼 |
| 2 | ✓ | Avadel Pharmaceuticals PLC ADR | +0.5% | +357283.33% | 加碼 |
| 3 | CRS | Carpenter Technology | +0.5% | +334.33% | 加碼 |
| 4 | WULF | Terawulf Inc | +0.4% | +73.79% | 加碼 |
| 5 | BW | Babcock & Wilcox Enterpr | +0.4% | +25.21% | 加碼 |
| 6 | KALU | Kaiser Aluminum CORP | +0.4% | +584300.00% | 加碼 |
| 7 | CORZ | Core Scientific Inc | +0.3% | +224.06% | 加碼 |
| 8 | RAL | Ralliant CORP | +0.3% | +4096.74% | 加碼 |
| 9 | ROK | Rockwell Automation Inc | +0.3% | +764.48% | 加碼 |
| 10 | FWRD | Forward Air CORP | +0.3% | +123.27% | 加碼 |
| 11 | HA7 | Enviri CORP | +0.3% | +236.40% | 加碼 |
| 12 | MLI | Mueller Industries Inc | +0.2% | +174.70% | 加碼 |
| 13 | LCII | Lci Industries | +0.2% | +245.92% | 加碼 |
| 14 | AA | Alcoa CORP | +0.2% | +314.27% | 加碼 |
| 15 | PATK | Patrick Industries Inc | +0.2% | +456.68% | 加碼 |
| 16 | PDYN | Palladyne Ai CORP | +0.2% | +482.18% | 加碼 |
| 17 | CALM | Cal-maine Foods Inc | +0.2% | +244.25% | 加碼 |
| 18 | TIGO | Millicom International Cellular S.A. | +0.2% | +1781.44% | 加碼 |
| 19 | ✓ | +0.2% | +5616.27% | 加碼 | |
| 20 | JOE | St Joe Co/the | +0.1% | +7.20% | 加碼 |
| 21 | SEM | Select Medical Holdings CORP | +0.1% | +110.03% | 加碼 |
| 22 | BKH | Black Hills CORP | +0.1% | +1179.57% | 加碼 |
| 23 | ECHO | Echostar Corp-a | +0.1% | -9.13% | 減碼 |
| 24 | CWAN | Clearwater Analytics Holdings, Inc. | +0.1% | +145.21% | 加碼 |
| 25 | NXDR | Nextdoor Holdings Inc | +0.1% | +941.04% | 加碼 |
| 26 | PFSI | Pennymac Financial Services | +0.1% | +307.94% | 加碼 |
| 27 | POWL | Powell Industries Inc | +0.1% | +2320.69% | 加碼 |
| 28 | YEXT | Yext Inc | +0.1% | +61.93% | 加碼 |
| 29 | HCC | Warrior Met Coal Inc | +0.1% | +386.39% | 加碼 |
| 30 | ATI | Ati Inc | +0.1% | +1288.03% | 加碼 |
| 31 | GOOGL | Alphabet Inc-cl A | +0.1% | -6.68% | 減碼 |
| 32 | VEA | Vanguard Ftse Developed ETF | +0.1% | +4.84% | 加碼 |
| 33 | KHC | Kraft Heinz Co/the | -0.1% | -94.57% | 減碼 |
| 34 | UGI | Ugi CORP | -0.1% | -89.82% | 減碼 |
| 35 | MEDP | Medpace Holdings Inc | -0.1% | -85.47% | 減碼 |
| 36 | HPE | Hewlett Packard Enterprise | -0.1% | -89.04% | 減碼 |
| 37 | AYI | Acuity Inc | -0.1% | -67.64% | 減碼 |
| 38 | BUR | Burford Capital Limited | -0.1% | -99.94% | 減碼 |
| 39 | NWE | Northwestern Energy Group In | -0.2% | -99.93% | 減碼 |
| 40 | TLN | Talen Energy CORP | -0.2% | -93.36% | 減碼 |
| 41 | SOC | Sable Offshore CORP | -0.2% | -99.96% | 減碼 |
| 42 | DXC | Dxc Technology Co | -0.2% | -71.58% | 減碼 |
| 43 | 6D8 | Dupont De Nemours Inc | -0.2% | -85.89% | 減碼 |
| 44 | MU | Micron Technology Inc | -0.2% | -73.98% | 減碼 |
| 45 | SPOT | Spotify Technology S.A. | -0.3% | -87.08% | 減碼 |
| 46 | J | Jacobs Solutions Inc | -0.3% | -93.04% | 減碼 |
| 47 | FLEX | Flex Ltd. | -0.4% | -89.59% | 減碼 |
| 48 | MTW | Manitowoc Company Inc | — | NEW | 新建倉 |
| 49 | ETNBGBP | 89bio Inc | — | EXIT | 清倉 |
| 50 | AVNW | Aviat Networks Inc | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Covestor Ltd 在 Q4 2025 季度的美股持倉總市值約為 US$1.7億，共申報了 2796 個公開持股部位。
在 Q4 2025 季度，Covestor Ltd 按市值排列的前三大核心持股分別為：VEA (1.7%)、VTI (1.6%)、NVDA (1.4%)。其中最大持股部位 VEA 佔據整體投資組合約 1.7% 的權重。
在 Q4 2025 季度中，Covestor Ltd 共進行了 50 項持倉異動，包含新建倉 2 個部位、加碼 30 個部位、減碼 17 個部位以及清倉 1 個部位。 其中最大新建倉標的為 MTW。 本季清倉部位包含 ETNBGBP。
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。
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。
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。