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: 0001103646
申報總市值
US$25.7億
US$25.7億
732 檔
12.1%
Q1 2025 季度申報顯示，Css Llc/il 揭露的美股組合總市值為 US$25.7億，涵蓋 732 個不同之權益投資部位。
在 Q1 2025，Css Llc/il 展現出較為審慎的避險與獲利了結姿態。本季共減碼 14 個部位並完全清倉 105 檔持股，調降曝險的部位數量高於加碼動作。
整體而言，Css Llc/il 的前 5 大持股（包含 MSTR, AAL 6.5 07-01-25, LRN 1.125 09-01-27）貢獻了組合市值的 12.1%，形成該機構在 Q1 2025 季度的基本面基石。
僅顯示前 200 大持股（共 732 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 | MSTR | Strategy Inc | 股票-科技 | 3.99% | -0.50% | -37.13% | |
| 2 | AAL 6.5 07-01-25債券 | American Airlines Group | 債券 | 3.70% | — | -0.74% | |
| 3 | LRN 1.125 09-01-27債券 | Stride Inc | 債券 | 3.65% | -0.85% | EXIT | |
| 4 | INSM 0.75 06-01-28債券 | Insmed Inc | 債券 | 2.93% | — | +28.43% | |
| 5 | JAZZ 2 06-15-26債券 | Jazz Investments I LTD | 債券 | 2.76% | -3.06% | EXIT | |
| 6 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 2.49% | +0.30% | -45.31% | |
| 7 | IONS 0 04-01-26債券 | Ionis Pharmaceuticals In | 債券 | 2.45% | — | +30.73% | |
| 8 | PENN 2.75 05-15-26債券 | Penn Entertainment Inc | 債券 | 1.90% | — | +58.96% | |
| 9 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 1.88% | -0.06% | -4.15% | |
| 10 | VAC 0 01-15-26債券 | Marriott Vacation Worldw | 債券 | 1.75% | — | +8.12% | |
| 11 | BTU 3.25 03-01-28債券 | Peabody Energy CORP | 債券 | 1.43% | -1.54% | -33.32% | |
| 12 | AXON | Axon Enterprise Inc | 股票-工業 | 1.37% | — | +3060.27% | |
| 13 | LUV 1.25 05-01-25債券 | Southwest Airlines Co | 債券 | 1.34% | — | — | |
| 14 | IMAX 0.5 04-01-26債券 | Imax CORP | 債券 | 1.33% | — | — | |
| 15 | FOUR 0 12-15-25債券 | Shift4 Payments Inc | 債券 | 1.33% | — | +606.68% | |
| 16 | TLT | Ishares 20+ Year Treasury Bd | ETF-政府公債 | 1.22% | -0.33% | +163.34% | |
| 17 | VTR 3.75 06-01-26債券 | Ventas Realty LP | 債券 | 1.20% | — | — | |
| 18 | MSTR 0.875 03-15-31債券 | Strategy Inc | 債券 | 1.20% | — | — | |
| 19 | TVTX 2.5 09-15-25債券 | Travere Therapeutics Inc | 債券 | 1.14% | — | — | |
| 20 | AAL | American Airlines Group Inc | 股票-工業 | 1.12% | -0.09% | -38.68% | |
| 21 | SNAP 0.75 08-01-26債券 | Snap Inc | 債券 | 1.01% | -0.02% | +4.37% | |
| 22 | LNT 3.875 03-15-26債券 | Alliant Energy CORP | 債券 | 0.97% | — | +73.15% | |
| 23 | KIM 7.25 PERP N債券 | Kimco Realty CORP | 債券 | 0.97% | -0.10% | -24.33% | |
| 24 | RSP | Invesco S&p 500 Equal Weight | ETF-大型股與成長 | 0.96% | -0.15% | -1.86% | |
| 25 | RIG 4.625 09-30-29 *債券 | Transocean Interntnl LTD | 債券 | 0.93% | -1.46% | +16.82% | |
| 26 | MNKD 2.5 03-01-26債券 | Mannkind CORP | 債券 | 0.89% | — | +11.84% | |
| 27 | ASND 2.25 04-01-28債券 | Ascendis Pharma A/s | 債券 | 0.88% | — | +285.71% | |
| 28 | SNDK | Sandisk Corporation | 股票-科技 | 0.86% | — | — | |
| 29 | DUK 4.125 04-15-26債券 | Duke Energy CORP | 債券 | 0.85% | — | +27.63% | |
| 30 | APO 6.75 07-31-26債券 | Apollo Global Management | 債券 | 0.81% | +2.44% | -59.10% | |
| 31 | WKC 3.25 07-01-28債券 | World Kinect Group | 債券 | 0.77% | — | +25.41% | |
| 32 | RIG 4 12-15-25 *債券 | Transocean Interntnl LTD | 債券 | 0.76% | — | +15.35% | |
| 33 | ECHO 3.875 11-30-30債券 | Echostar CORP | 債券 | 0.71% | -1.67% | -22.76% | |
| 34 | MSTR 0.625 03-15-30債券 | Strategy Inc | 債券 | 0.64% | — | — | |
| 35 | SOFI | Sofi Technologies Inc | 股票-金融 | 0.62% | -0.01% | EXIT | |
| 36 | BECNUSD | Beacon Roofing Supply Inc | 股票-其他 | 0.60% | — | +1063.40% | |
| 37 | STEW | Srh Total Return Fund Inc | 股票-其他 | 0.59% | -0.06% | -6.22% | |
| 38 | IAU | Ishares Gold Trust | ETF-避險與商品 | 0.56% | -0.25% | — | |
| 39 | IWP | Ishares Russell Mid-cap Grow | ETF-其他 | 0.53% | — | — | |
| 40 | GME | Gamestop Corp-class A | 股票-循環性消費 | 0.51% | -0.24% | +1084.70% | |
| 41 | EQXCN 4.75 10-15-28債券 | Equinox Gold CORP | 債券 | 0.51% | +0.06% | — | |
| 42 | ✓ | Archimedes Tech Spac Partner | 股票-其他 | 0.45% | — | — | |
| 43 | GLD | Spdr Gold Shares | ETF-避險與商品 | 0.45% | -0.86% | -22.13% | |
| 44 | PI 1.125 05-15-27債券 | Impinj Inc | 債券 | 0.44% | — | — | |
| 45 | MTSI 0.25 03-15-26債券 | M/a-com Tech Solutions | 債券 | 0.43% | — | — | |
| 46 | ✓ | Moneylion Inc | 股票-其他 | 0.42% | — | +422.84% | |
| 47 | GTLS 6.75 12-15-25 B債券 | Chart Industries Inc | 債券 | 0.42% | — | -81.36% | |
| 48 | RIVN | Rivian Automotive Inc-a | 股票-循環性消費 | 0.40% | -0.04% | -0.09% | |
| 49 | W 3.25 09-15-27債券 | Wayfair Inc | 債券 | 0.40% | +0.15% | NEW | |
| 50 | ABR 7.5 08-01-25債券 | Arbor Realty Trust Inc | 債券 | 0.38% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | MSTR | Strategy Inc | +4% | -37.13% | 加碼 |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | +1.3% | -45.31% | 加碼 |
| 3 | TVTX 2.5 09-15-25債券 | Travere Therapeutics Inc | +1% | — | 加碼 |
| 4 | AAL | American Airlines Group Inc | +0.5% | -38.68% | 加碼 |
| 5 | 0VVB | Paramount Global-class B | +0.3% | -2.81% | 加碼 |
| 6 | CVNA | Carvana Co | -0.2% | -66.67% | 減碼 |
| 7 | AMD | Advanced Micro Devices | -0.2% | +281.77% | 減碼 |
| 8 | NIO | Nio Inc - Adr | -0.2% | -15.83% | 加碼 |
| 9 | BIO-B | Bio-rad Laboratories -cl B | -0.2% | -18.57% | 減碼 |
| 10 | LBRDA | Liberty Broadband-a | -0.2% | +22.50% | 減碼 |
| 11 | PEO | Adams Natural Resources Fund | -0.2% | -21.30% | 減碼 |
| 12 | PCG | P G & E CORP | -0.3% | -56.44% | 減碼 |
| 13 | RIG 4 12-15-25 *債券 | Transocean Interntnl LTD | -0.3% | +15.35% | 減碼 |
| 14 | MPC | Marathon Petroleum CORP | -0.4% | -36.48% | 減碼 |
| 15 | BIIB | Biogen Inc | -0.5% | — | 減碼 |
| 16 | IWD | Ishares Russell 1000 Value E | -0.7% | — | 減碼 |
| 17 | DKS | Dick's Sporting Goods Inc | -0.8% | -47.77% | 減碼 |
| 18 | CCL1EUR | Carnival CORP LTD | -0.9% | -86.03% | 減碼 |
| 19 | NVAX | Novavax Inc | -1.3% | -88.64% | 減碼 |
| 20 | TSLA | Tesla Inc | -2.7% | -69.23% | 減碼 |
| 21 | DXCM 0.75 12-01-23債券 | Dexcom Inc | — | EXIT | 清倉 |
| 22 | W 1.125 11-01-24債券 | Wayfair Inc | — | EXIT | 清倉 |
| 23 | AAL 6.5 07-01-25債券 | American Airlines Group | — | NEW | 新建倉 |
| 24 | LRN 1.125 09-01-27債券 | Stride Inc | — | NEW | 新建倉 |
| 25 | INSM 0.75 06-01-28債券 | Insmed Inc | — | NEW | 新建倉 |
| 26 | JAZZ 2 06-15-26債券 | Jazz Investments I LTD | — | NEW | 新建倉 |
| 27 | IONS 0 04-01-26債券 | Ionis Pharmaceuticals In | — | NEW | 新建倉 |
| 28 | CHGG 0.125 03-15-25債券 | Chegg Inc | — | EXIT | 清倉 |
| 29 | GFLCN 6 03-15-23債券 | Gfl Environmental Inc | — | EXIT | 清倉 |
| 30 | NEE 4.872 09-01-22債券 | Nextera Energy Inc | — | EXIT | 清倉 |
| 31 | WORK 0.5 04-15-25債券 | Slack Technologies LLC | — | EXIT | 清倉 |
| 32 | XYZ 0.5 05-15-23債券 | Block Inc | — | EXIT | 清倉 |
| 33 | PENN 2.75 05-15-26債券 | Penn Entertainment Inc | — | NEW | 新建倉 |
| 34 | VOO | Vanguard S&p 500 ETF | — | NEW | 新建倉 |
| 35 | LINTA 3.5 01-15-31債券 | Liberty Interactive LLC | — | EXIT | 清倉 |
| 36 | PLUG 3.75 06-01-25債券 | Plug Power Inc | — | EXIT | 清倉 |
| 37 | VAC 0 01-15-26債券 | Marriott Vacation Worldw | — | NEW | 新建倉 |
| 38 | STAR 3.125 09-15-22債券 | Istar Inc | — | EXIT | 清倉 |
| 39 | COHR 0.25 09-01-22債券 | Ii-vi Inc | — | EXIT | 清倉 |
| 40 | MRNA | Moderna Inc | — | EXIT | 清倉 |
| 41 | BTU 3.25 03-01-28債券 | Peabody Energy CORP | — | NEW | 新建倉 |
| 42 | AXON | Axon Enterprise Inc | — | NEW | 新建倉 |
| 43 | LUV 1.25 05-01-25債券 | Southwest Airlines Co | — | NEW | 新建倉 |
| 44 | IMAX 0.5 04-01-26債券 | Imax CORP | — | NEW | 新建倉 |
| 45 | FOUR 0 12-15-25債券 | Shift4 Payments Inc | — | NEW | 新建倉 |
| 46 | ZNGA 0.25 06-01-24債券 | Zynga Inc | — | EXIT | 清倉 |
| 47 | PCG 5.5 08-16-23債券 | Pg&e CORP | — | EXIT | 清倉 |
| 48 | TLT | Ishares 20+ Year Treasury Bd | — | NEW | 新建倉 |
| 49 | VTR 3.75 06-01-26債券 | Ventas Realty LP | — | NEW | 新建倉 |
| 50 | MSTR 0.875 03-15-31債券 | Strategy Inc | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Css Llc/il 在 Q1 2025 季度的美股持倉總市值約為 US$25.7億，共申報了 732 個公開持股部位。
在 Q1 2025 季度，Css Llc/il 按市值排列的前三大核心持股分別為：MSTR (4.0%)、AAL 6.5 07-01-25 (3.7%)、LRN 1.125 09-01-27 (3.6%)。其中最大持股部位 MSTR 佔據整體投資組合約 4.0% 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
AAL 6.5 07-01-25
市值: US$6732.7萬
本季最大獲利了結 / 清倉標的
DXCM 0.75 12-01-23
前期市值: US$1.0億
在 Q1 2025 季度中，Css Llc/il 共進行了 200 項持倉異動，包含新建倉 75 個部位、加碼 6 個部位、減碼 14 個部位以及清倉 105 個部位。 其中最大新建倉標的為 AAL 6.5 07-01-25。 本季清倉部位包含 DXCM 0.75 12-01-23。
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。