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: 0001353098
申報總市值
US$3.9億
US$3.9億
116 檔
14.9%
Cutler Capital Management, LLC 在 Q2 2025 季度的美股部位總計估值為 US$3.9億，分散於 116 個持倉標的之中，反映其市場參與廣度與投資規模。
觀察 Q2 2025 的資金脈絡，Cutler Capital Management, LLC 在獲利結算 10 檔個股的同時，將資本重新部署至 9 檔新選標的，展現主動管理機構的輪動節奏。
在資產配置集中度方面，Cutler Capital Management, LLC 的前 5 大核心持股（包含 AEM, MET, CTO 等）合計佔整體申報市值的 14.9%，反映機構在主要關鍵部位上的權重分佈。
| # | 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 | AEM | Agnico Eagle Mines LTD | 股票-原物料 | 5.45% | -1.82% | -2.40% | |
| 2 | MET | Metlife Inc | 股票-金融 | 4.62% | +0.41% | -0.72% | |
| 3 | CTO | Cto Realty Growth Inc | 股票-其他 | 3.86% | +0.34% | +234.59% | |
| 4 | TSBK | Timberland Bancorp Inc | 股票-其他 | 3.24% | +0.22% | -0.14% | |
| 5 | EXSR | Exchange Bank Santa Rosa Cal | 股票-其他 | 2.79% | +0.23% | — | |
| 6 | FBIZ | First Business Financial Ser | 股票-其他 | 2.75% | +0.28% | +0.26% | |
| 7 | SHEL | Shell Plc-adr | 股票-能源 | 2.71% | -0.58% | -0.36% | |
| 8 | SBFG | Sb Financial Group Inc | 股票-其他 | 2.60% | +0.33% | -0.15% | |
| 9 | ET | Energy Transfer LP | 股票-能源 | 2.48% | -0.25% | -5.49% | |
| 10 | ✓ | 股票-其他 | 2.38% | — | -0.78% | ||
| 11 | BG | Bunge Global SA | 股票-非循環性消費 | 2.23% | -0.57% | -0.97% | |
| 12 | FENY | Fidelity Msci Energy Index | ETF-大型股與成長 | 2.21% | -0.41% | +2.66% | |
| 13 | PKBK | Parke Bancorp Inc | 股票-其他 | 2.19% | +0.27% | +0.23% | |
| 14 | PFE | Pfizer Inc | 股票-醫療保健 | 2.12% | -0.36% | +0.20% | |
| 15 | ✓ | 股票-其他 | 2.01% | — | -0.87% | ||
| 16 | ✓ | 股票-其他 | 1.91% | — | -0.50% | ||
| 17 | VICI | Vici Properties Inc | 股票-房地產 | 1.88% | -0.11% | +0.55% | |
| 18 | BMBN | Benchmark Bankshares Inc | 股票-其他 | 1.74% | +0.23% | +1.90% | |
| 19 | LFGP | Ledyard Financial Group Inc | 股票-其他 | 1.63% | +0.04% | — | |
| 20 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.60% | -0.06% | +0.52% | |
| 21 | ✓ | 股票-其他 | 1.51% | — | -1.25% | ||
| 22 | VTRS | Viatris Inc | 股票-醫療保健 | 1.44% | +0.18% | -0.22% | |
| 23 | WY | Weyerhaeuser Co | 股票-房地產 | 1.42% | +0.03% | +0.22% | |
| 24 | BORT | Bank Of Botetourt Buchanan V | 股票-其他 | 1.38% | +0.13% | +7.85% | |
| 25 | FXNC | First National Corp/va | 股票-其他 | 1.37% | +0.10% | — | |
| 26 | VZ | Verizon Communications Inc | 股票-通訊服務 | 1.33% | -0.32% | +0.52% | |
| 27 | PTBS | Potomac Bancshares Inc | 股票-其他 | 1.33% | +0.21% | +4.36% | |
| 28 | ✓ | 股票-其他 | 1.31% | — | -0.51% | ||
| 29 | CPKF | Chesapeake Finl Shs Inc | 股票-其他 | 1.26% | +0.13% | — | |
| 30 | ALRS | Alerus Financial CORP | 股票-其他 | 1.17% | +0.22% | -1.87% | |
| 31 | APLE | Apple Hospitality Reit Inc | 股票-房地產 | 1.15% | +0.37% | +1.03% | |
| 32 | GMREUSD | Global Medical Reit Inc | 股票-其他 | 1.14% | — | +3.48% | |
| 33 | CWBC | Community West Bancshares | 股票-其他 | 1.10% | +0.11% | — | |
| 34 | ✓ | 股票-其他 | 1.09% | — | -1.46% | ||
| 35 | CSBB | Csb Bancorp Inc | 股票-其他 | 1.04% | -0.03% | — | |
| 36 | ACI | Albertsons Cos Inc - Class A | 股票-非循環性消費 | 1.01% | -0.04% | +2.22% | |
| 37 | FMBM | F & M Bank CORP | 股票-其他 | 1.00% | +0.15% | — | |
| 38 | ✓ | 股票-其他 | 0.99% | — | — | ||
| 39 | SFL | SFL Corporation Ltd. | 股票-其他 | 0.98% | -0.12% | -0.44% | |
| 40 | AIG | American International Group | 股票-金融 | 0.98% | -0.03% | — | |
| 41 | ✓ | 股票-其他 | 0.92% | — | +81.29% | ||
| 42 | MFGI | Merchants Financial Group In | 股票-其他 | 0.82% | +0.16% | — | |
| 43 | HCI | Hci Group Inc | 股票-其他 | 0.81% | +0.04% | — | |
| 44 | LXPUSD | Lxp Industrial Trust | 股票-其他 | 0.79% | — | +1.42% | |
| 45 | ✓ | Duke Energy | 股票-其他 | 0.79% | — | — | |
| 46 | ENR | Energizer Holdings Inc | 股票-其他 | 0.79% | +0.21% | +23.45% | |
| 47 | CNH | CNH Industrial N.V. | 股票-工業 | 0.78% | -0.01% | -46.57% | |
| 48 | ✓ | Ford Motor Co | 股票-其他 | 0.78% | — | -3.19% | |
| 49 | ABCB | Ameris Bancorp | 股票-金融 | 0.78% | +0.05% | +2.07% | |
| 50 | MOAT | Vaneck Morningstar Wide Moat | ETF-其他 | 0.75% | +0.05% | +1.41% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CTO | Cto Realty Growth Inc | +2.6% | +234.59% | 加碼 |
| 2 | HCI | Hci Group Inc | +0.8% | NEW | 新建倉 |
| 3 | ES | Eversource Energy | +0.6% | NEW | 新建倉 |
| 4 | SIRI 3.75 03-15-28債券 | Sirius Xm Holdings | +0.4% | — | 加碼 |
| 5 | AEM | Agnico Eagle Mines LTD | +0.4% | -2.40% | 減碼 |
| 6 | BMBN | Benchmark Bankshares Inc | +0.3% | +1.90% | 加碼 |
| 7 | SPYM | Ste Str Spdr Pt S&p 500 ETF | +0.3% | NEW | 新建倉 |
| 8 | AMPH 2 03-15-29債券 | Amphastar Pharmaceutical | +0.2% | — | 加碼 |
| 9 | ABNB 0 03-15-26債券 | Airbnb Inc | +0.2% | — | 加碼 |
| 10 | FBIZ | First Business Financial Ser | +0.2% | +0.26% | 加碼 |
| 11 | PKBK | Parke Bancorp Inc | +0.2% | +0.23% | 加碼 |
| 12 | BORT | Bank Of Botetourt Buchanan V | +0.2% | +7.85% | 加碼 |
| 13 | ALRS | Alerus Financial CORP | +0.2% | -1.87% | 減碼 |
| 14 | PTBS | Potomac Bancshares Inc | +0.1% | +4.36% | 加碼 |
| 15 | TSBK | Timberland Bancorp Inc | +0.1% | -0.14% | 減碼 |
| 16 | FSBH | Fsbh CORP | +0.1% | — | 不變 |
| 17 | CPKF | Chesapeake Finl Shs Inc | +0.1% | — | 不變 |
| 18 | ABCB | Ameris Bancorp | +0.1% | +2.07% | 加碼 |
| 19 | BG | Bunge Global SA | +0.1% | -0.97% | 減碼 |
| 20 | FBTC | Fidelity Wise Origin Bitcoin | +0.1% | NEW | 新建倉 |
| 21 | ORCL | Oracle CORP | +0.1% | — | 不變 |
| 22 | FMBM | F & M Bank CORP | +0.1% | — | 不變 |
| 23 | FWONK 2.25 08-15-27債券 | Liberty Media CORP | +0.1% | — | 減碼 |
| 24 | SKE | Skeena Resources LTD | +0.1% | NEW | 新建倉 |
| 25 | CWBC | Community West Bancshares | +0.1% | — | 不變 |
| 26 | MSFT | Microsoft CORP | +0.1% | -6.11% | 減碼 |
| 27 | MOAT | Vaneck Morningstar Wide Moat | +0.1% | +1.41% | 加碼 |
| 28 | EPR 5.75 PERP C債券 | Epr Properties | +0.1% | -0.91% | 減碼 |
| 29 | FCCO | First Community CORP | +0.1% | — | 不變 |
| 30 | PFIS | Peoples Financial Services | +0.1% | — | 不變 |
| 31 | PRGS 3.5 03-01-30債券 | Progress Software CORP | +0.1% | — | 減碼 |
| 32 | SLB | Slb LTD | +0.1% | +44.53% | 加碼 |
| 33 | TSM | Taiwan Semiconductor-sp Adr | 0% | NEW | 新建倉 |
| 34 | MOTG | Vaneck Mstar Gl Wide Moat | 0% | NEW | 新建倉 |
| 35 | GLD | Spdr Gold Shares | 0% | NEW | 新建倉 |
| 36 | CZBT | Citizens Bancorp Of Virginia | 0% | — | 不變 |
| 37 | RSP | Invesco S&p 500 Equal Weight | 0% | NEW | 新建倉 |
| 38 | FLG 6 11-01-51債券 | Flagstar Bank NA | 0% | — | 減碼 |
| 39 | INVA 2.125 03-15-28債券 | Innoviva Inc | 0% | — | 減碼 |
| 40 | VTRS | Viatris Inc | 0% | -0.22% | 減碼 |
| 41 | WIW | Western Asst Infl-lnk Opp | 0% | +11.94% | 加碼 |
| 42 | MFGI | Merchants Financial Group In | 0% | — | 不變 |
| 43 | GTLS 6.75 12-15-25 B債券 | Chart Industries Inc | 0% | — | 不變 |
| 44 | FISI | Financial Institutions Inc | 0% | +1.91% | 加碼 |
| 45 | HWC | Hancock Whitney CORP | 0% | — | 不變 |
| 46 | JNJ | Johnson & Johnson | 0% | — | 不變 |
| 47 | T | At&t Inc | 0% | — | 不變 |
| 48 | AMZN | Amazon.com Inc | 0% | — | 不變 |
| 49 | MTB | M & T Bank CORP | 0% | — | 不變 |
| 50 | GDX | Vaneck Gold Miners ETF | 0% | -8.60% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Cutler Capital Management, LLC 在 Q2 2025 季度的美股持倉總市值約為 US$3.9億，共申報了 116 個公開持股部位。
在 Q2 2025 季度，Cutler Capital Management, LLC 按市值排列的前三大核心持股分別為：AEM (5.5%)、MET (4.6%)、CTO (3.9%)。其中最大持股部位 AEM 佔據整體投資組合約 5.5% 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
HCI
市值: US$232.7萬
本季最大獲利了結 / 清倉標的
CTO 3.875 04-15-25 *
前期市值: US$843.8萬
在 Q2 2025 季度中，Cutler Capital Management, LLC 共進行了 85 項持倉異動，包含新建倉 9 個部位、加碼 28 個部位、減碼 38 個部位以及清倉 10 個部位。 其中最大新建倉標的為 HCI。 本季清倉部位包含 CTO 3.875 04-15-25 *。
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。