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
870 檔
17.8%
根據最新整理的 13F 季度數據集，Css Llc/il 於 Q4 2025 結束時的管理資產規模為 US$25.7億。該機構在本季度申報了 870 檔美股持倉，呈現出該時期的主要投資地圖。
Q4 2025 的申報記錄反映 Css Llc/il 的板塊替換策略：機構本季推動了 98 筆增持與 99 筆減持，籌碼呈現明顯的結構重組。
整體而言，Css Llc/il 的前 5 大持股（包含 ECHO 3.875 11-30-30, LITE 0.5 06-15-28, SPY）貢獻了組合市值的 17.8%，形成該機構在 Q4 2025 季度的基本面基石。
僅顯示前 200 大持股（共 870 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 | ECHO 3.875 11-30-30債券 | Echostar CORP | 債券 | 5.63% | -1.67% | +162.52% | |
| 2 | LITE 0.5 06-15-28債券 | Lumentum Holdings Inc | 債券 | 5.11% | -0.81% | +14.10% | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 3.51% | +0.30% | -9.71% | |
| 4 | JAZZ 2 06-15-26債券 | Jazz Investments I LTD | 債券 | 3.35% | -3.06% | EXIT | |
| 5 | IONS 0 04-01-26債券 | Ionis Pharmaceuticals In | 債券 | 2.74% | — | -28.20% | |
| 6 | WDC | Western Digital Corporation | 股票-科技 | 2.53% | — | — | |
| 7 | BTU 3.25 03-01-28債券 | Peabody Energy CORP | 債券 | 2.26% | -1.54% | +18.61% | |
| 8 | LYV 3.125 01-15-29債券 | Live Nation Entertainmen | 債券 | 2.12% | -2.39% | EXIT | |
| 9 | EQXCN 4.75 10-15-28債券 | Equinox Gold CORP | 債券 | 1.97% | +0.06% | — | |
| 10 | MSTR | Strategy Inc | 股票-科技 | 1.91% | -0.50% | -3.68% | |
| 11 | LITE 1.5 12-15-29債券 | Lumentum Holdings Inc | 債券 | 1.77% | — | -44.44% | |
| 12 | RIG 4.625 09-30-29 *債券 | Transocean Interntnl LTD | 債券 | 1.67% | -1.46% | +19.77% | |
| 13 | BBIO 2.25 02-01-29債券 | Bridgebio Pharma Inc | 債券 | 1.33% | — | NEW | |
| 14 | BAC 7.25 PERP L債券 | Bank Of America CORP | 債券 | 1.31% | +1.87% | +554.89% | |
| 15 | GME | Gamestop Corp-class A | 股票-循環性消費 | 1.31% | -0.24% | -7.59% | |
| 16 | GLD | Spdr Gold Shares | ETF-避險與商品 | 1.31% | -0.86% | +60.28% | |
| 17 | SOFI | Sofi Technologies Inc | 股票-金融 | 1.06% | -0.01% | EXIT | |
| 18 | RSP | Invesco S&p 500 Equal Weight | ETF-大型股與成長 | 0.94% | -0.15% | +22.77% | |
| 19 | GH 1.25 02-15-31債券 | Guardant Health Inc | 債券 | 0.89% | -0.13% | — | |
| 20 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 0.88% | -0.06% | +13.08% | |
| 21 | AAL | American Airlines Group Inc | 股票-工業 | 0.83% | -0.09% | -14.76% | |
| 22 | CORZW | Core Scientific Inc - 27 | 股票-其他 | 0.76% | +0.85% | +99.37% | |
| 23 | IAU | Ishares Gold Trust | ETF-避險與商品 | 0.71% | -0.25% | +6.49% | |
| 24 | MNKD 2.5 03-01-26債券 | Mannkind CORP | 債券 | 0.71% | — | — | |
| 25 | SNOW 0 10-01-27債券 | Snowflake Inc | 債券 | 0.69% | -0.08% | EXIT | |
| 26 | AKAM 1.125 02-15-29債券 | Akamai Technologies Inc | 債券 | 0.68% | +0.29% | +120.37% | |
| 27 | COLL 2.875 02-15-29債券 | Collegium Pharma Inc | 債券 | 0.66% | — | — | |
| 28 | RKLB | Rocket Lab CORP | 股票-工業 | 0.65% | — | -1.27% | |
| 29 | VTR 3.75 06-01-26債券 | Ventas Realty LP | 債券 | 0.65% | — | +246.56% | |
| 30 | LRN 1.125 09-01-27債券 | Stride Inc | 債券 | 0.63% | -0.85% | EXIT | |
| 31 | MARA 2.125 09-01-31債券 | Mara Holdings Inc | 債券 | 0.61% | -0.24% | +6.25% | |
| 32 | BYND 7 10-15-30債券 | Beyond Meat Inc | 債券 | 0.58% | -0.15% | — | |
| 33 | HAE 2.5 06-01-29債券 | Haemonetics CORP | 債券 | 0.58% | +0.44% | — | |
| 34 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | 債券 | 0.56% | +0.23% | — | |
| 35 | FLNC 2.25 06-15-30債券 | Fluence Energy Inc | 債券 | 0.55% | -0.30% | EXIT | |
| 36 | W 3.5 11-15-28債券 | Wayfair Inc | 債券 | 0.52% | — | -70.19% | |
| 37 | KIM 7.25 PERP N債券 | Kimco Realty CORP | 債券 | 0.52% | -0.10% | -27.55% | |
| 38 | CIFR 1.75 05-15-30債券 | Cipher Digital Inc | 債券 | 0.46% | — | — | |
| 39 | SWZ | Total Return Securities Fund | 股票-其他 | 0.46% | -0.05% | +204.58% | |
| 40 | WOLF 2.5 06-15-31債券 | Wolfspeed Inc | 債券 | 0.45% | +1.46% | — | |
| 41 | F 0 03-15-26債券 | Ford Motor Company | 債券 | 0.43% | — | +483.19% | |
| 42 | ECHO | Echostar Corp-a | 股票-通訊服務 | 0.41% | -0.04% | +7.92% | |
| 43 | CELC 2.75 08-01-31債券 | Celcuity Inc | 債券 | 0.41% | -0.28% | — | |
| 44 | MARA 0 03-01-30債券 | Mara Holdings Inc | 債券 | 0.40% | -0.18% | — | |
| 45 | PTCT 1.5 09-15-26債券 | Ptc Therapeutics Inc | 債券 | 0.40% | +0.55% | -62.50% | |
| 46 | MSTR 2.25 06-15-32債券 | Strategy Inc | 債券 | 0.39% | -0.37% | EXIT | |
| 47 | PSKY | Paramount Skydance Cl B | 股票-通訊服務 | 0.39% | — | -12.06% | |
| 48 | STEW | Srh Total Return Fund Inc | 股票-其他 | 0.38% | -0.06% | +0.04% | |
| 49 | SMCI 3.5 03-01-29債券 | Super Micro Computer Inc | 債券 | 0.38% | -0.06% | EXIT | |
| 50 | LYFT 0.625 03-01-29債券 | Lyft Inc | 債券 | 0.37% | — | +178.76% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ECHO 3.875 11-30-30債券 | Echostar CORP | +4% | +162.52% | 加碼 |
| 2 | LITE 0.5 06-15-28債券 | Lumentum Holdings Inc | +2.9% | +14.10% | 加碼 |
| 3 | BBIO 2.25 02-01-29債券 | Bridgebio Pharma Inc | +1.3% | +1666.67% | 加碼 |
| 4 | BAC 7.25 PERP L債券 | Bank Of America CORP | +1.1% | +554.89% | 加碼 |
| 5 | GLD | Spdr Gold Shares | +0.6% | +60.28% | 加碼 |
| 6 | BTU 3.25 03-01-28債券 | Peabody Energy CORP | +0.5% | +18.61% | 加碼 |
| 7 | VTR 3.75 06-01-26債券 | Ventas Realty LP | +0.5% | +246.56% | 加碼 |
| 8 | RIG 4.625 09-30-29 *債券 | Transocean Interntnl LTD | +0.4% | +19.77% | 加碼 |
| 9 | JAZZ 2 06-15-26債券 | Jazz Investments I LTD | +0.4% | +4.00% | 加碼 |
| 10 | AKAM 1.125 02-15-29債券 | Akamai Technologies Inc | +0.4% | +120.37% | 加碼 |
| 11 | SOFI | Sofi Technologies Inc | +0.4% | +56.84% | 加碼 |
| 12 | F 0 03-15-26債券 | Ford Motor Company | +0.4% | +483.19% | 加碼 |
| 13 | EQXCN 4.75 10-15-28債券 | Equinox Gold CORP | +0.3% | — | 不變 |
| 14 | LITE 1.5 12-15-29債券 | Lumentum Holdings Inc | +0.3% | -44.44% | 減碼 |
| 15 | SWZ | Total Return Securities Fund | +0.3% | +204.58% | 加碼 |
| 16 | SPB 3.375 06-01-29債券 | Spectrum Brands Inc | +0.3% | +240.31% | 加碼 |
| 17 | CORZW | Core Scientific Inc - 27 | +0.2% | +99.37% | 加碼 |
| 18 | LNT 3.875 03-15-26債券 | Alliant Energy CORP | +0.2% | +212.01% | 加碼 |
| 19 | LYFT 0.625 03-01-29債券 | Lyft Inc | +0.2% | +178.76% | 加碼 |
| 20 | SMCI 3.5 03-01-29債券 | Super Micro Computer Inc | +0.2% | +137.50% | 加碼 |
| 21 | RKLB | Rocket Lab CORP | +0.2% | -1.27% | 減碼 |
| 22 | BRW | Saba Capital Income & Opport | +0.2% | +542.71% | 加碼 |
| 23 | RSP | Invesco S&p 500 Equal Weight | +0.2% | +22.77% | 加碼 |
| 24 | PENN 2.75 05-15-26債券 | Penn Entertainment Inc | +0.2% | +9722.22% | 加碼 |
| 25 | ✓ | Berto Acquisition CORP | +0.2% | +2365.08% | 加碼 |
| 26 | ECHO | Echostar Corp-a | +0.1% | +7.92% | 加碼 |
| 27 | VOO | Vanguard S&p 500 ETF | +0.1% | +13.08% | 加碼 |
| 28 | XLF | Ss Financial Select Sector | +0.1% | +118.75% | 加碼 |
| 29 | AAL | American Airlines Group Inc | +0.1% | -14.76% | 減碼 |
| 30 | HO1 | Hologic Inc | +0.1% | +502.62% | 加碼 |
| 31 | IAU | Ishares Gold Trust | +0.1% | +6.49% | 加碼 |
| 32 | EXAS 0.375 03-01-28債券 | Exact Sciences CORP | +0.1% | +81.50% | 加碼 |
| 33 | RIVN | Rivian Automotive Inc-a | +0.1% | +2.53% | 加碼 |
| 34 | EA | Electronic Arts Inc | +0.1% | +138.78% | 加碼 |
| 35 | CIFR 1.75 05-15-30債券 | Cipher Digital Inc | +0.1% | — | 不變 |
| 36 | CIO | City Office Reit Inc | +0.1% | +1743.48% | 加碼 |
| 37 | WBD | Warner Bros Discovery Inc | +0.1% | +424.00% | 加碼 |
| 38 | BKD 2 10-15-26債券 | Brookdale Senior Living | +0.1% | — | 不變 |
| 39 | W | Wayfair Inc- Class A | +0.1% | +42.86% | 加碼 |
| 40 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | +145.39% | 加碼 |
| 41 | BHF | Brighthouse Financial Inc | +0.1% | +155.00% | 加碼 |
| 42 | CTA | Simplify Managed Futures St | 0% | +29.82% | 加碼 |
| 43 | OPFI | Oppfi Inc | -0.1% | -84.01% | 減碼 |
| 44 | ZTR | Virtus Total Return Fund Inc | -0.1% | -68.49% | 減碼 |
| 45 | SMR | Nuscale Power CORP | -0.1% | -31.91% | 減碼 |
| 46 | RIOT | Riot Platforms Inc | -0.1% | -28.80% | 減碼 |
| 47 | AR | Antero Resources CORP | -0.1% | -70.76% | 減碼 |
| 48 | NIO | Nio Inc - Adr | -0.1% | +19.88% | 加碼 |
| 49 | GEN | Gen Digital Inc | -0.1% | -53.00% | 減碼 |
| 50 | EFA | Ishares Msci Eafe ETF | -0.1% | -35.34% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Css Llc/il 在 Q4 2025 季度的美股持倉總市值約為 US$25.7億，共申報了 870 個公開持股部位。
在 Q4 2025 季度，Css Llc/il 按市值排列的前三大核心持股分別為：ECHO 3.875 11-30-30 (5.6%)、LITE 0.5 06-15-28 (5.1%)、SPY (3.5%)。其中最大持股部位 ECHO 3.875 11-30-30 佔據整體投資組合約 5.6% 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
WDC
市值: US$5684.9萬
本季最大獲利了結 / 清倉標的
SNDK
前期市值: US$3702.6萬
在 Q4 2025 季度中，Css Llc/il 共進行了 197 項持倉異動，包含新建倉 60 個部位、加碼 38 個部位、減碼 48 個部位以及清倉 51 個部位。 其中最大新建倉標的為 WDC。 本季清倉部位包含 SNDK。
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。