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
124 檔
16.5%
根據最新整理的 13F 季度數據集，Cutler Capital Management, LLC 於 Q3 2025 結束時的管理資產規模為 US$3.9億。該機構在本季度申報了 124 檔美股持倉，呈現出該時期的主要投資地圖。
Cutler Capital Management, LLC 在 Q3 2025 進行了結構性的板塊輪動與部位換股。在開立 21 個全新部位及加碼 44 檔持股的同時，亦同步清倉 14 檔並減碼 38 檔標的。
整體而言，Cutler Capital Management, LLC 的前 5 大持股（包含 AEM, MET, CTO）貢獻了組合市值的 16.5%，形成該機構在 Q3 2025 季度的基本面基石。
| # | 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 | 6.57% | -1.82% | -7.11% | |
| 2 | MET | Metlife Inc | 股票-金融 | 4.35% | +0.41% | +0.42% | |
| 3 | CTO | Cto Realty Growth Inc | 股票-其他 | 3.45% | +0.34% | +3.57% | |
| 4 | TSBK | Timberland Bancorp Inc | 股票-其他 | 3.09% | +0.22% | -2.21% | |
| 5 | EXSR | Exchange Bank Santa Rosa Cal | 股票-其他 | 2.77% | +0.23% | +0.13% | |
| 6 | FBIZ | First Business Financial Ser | 股票-其他 | 2.54% | +0.28% | -0.20% | |
| 7 | SHEL | Shell Plc-adr | 股票-能源 | 2.52% | -0.58% | -0.03% | |
| 8 | SBFG | Sb Financial Group Inc | 股票-其他 | 2.41% | +0.33% | -0.08% | |
| 9 | ✓ | 股票-其他 | 2.30% | — | -0.24% | ||
| 10 | FENY | Fidelity Msci Energy Index | ETF-大型股與成長 | 2.14% | -0.41% | +0.26% | |
| 11 | PKBK | Parke Bancorp Inc | 股票-其他 | 2.13% | +0.27% | +0.32% | |
| 12 | BG | Bunge Global SA | 股票-非循環性消費 | 2.08% | -0.57% | +0.51% | |
| 13 | PFE | Pfizer Inc | 股票-醫療保健 | 2.06% | -0.36% | +1.04% | |
| 14 | ET | Energy Transfer LP | 股票-能源 | 1.98% | -0.25% | -8.19% | |
| 15 | ✓ | 股票-其他 | 1.97% | — | +46.89% | ||
| 16 | ✓ | 股票-其他 | 1.94% | — | -0.17% | ||
| 17 | VICI | Vici Properties Inc | 股票-房地產 | 1.73% | -0.11% | +0.42% | |
| 18 | ✓ | 股票-其他 | 1.72% | — | — | ||
| 19 | BMBN | Benchmark Bankshares Inc | 股票-其他 | 1.66% | +0.23% | -0.41% | |
| 20 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.56% | -0.06% | +0.35% | |
| 21 | LFGP | Ledyard Financial Group Inc | 股票-其他 | 1.51% | +0.04% | +3.43% | |
| 22 | FXNC | First National Corp/va | 股票-其他 | 1.47% | +0.10% | -0.03% | |
| 23 | VTRS | Viatris Inc | 股票-醫療保健 | 1.46% | +0.18% | +0.01% | |
| 24 | VZ | Verizon Communications Inc | 股票-通訊服務 | 1.45% | -0.32% | +17.08% | |
| 25 | PTBS | Potomac Bancshares Inc | 股票-其他 | 1.38% | +0.21% | +4.47% | |
| 26 | BORT | Bank Of Botetourt Buchanan V | 股票-其他 | 1.37% | +0.13% | -2.12% | |
| 27 | ✓ | 股票-其他 | 1.33% | — | +222.87% | ||
| 28 | WY | Weyerhaeuser Co | 股票-房地產 | 1.30% | +0.03% | +3.25% | |
| 29 | ✓ | 股票-其他 | 1.24% | — | — | ||
| 30 | CPKF | Chesapeake Finl Shs Inc | 股票-其他 | 1.23% | +0.13% | +3.41% | |
| 31 | ✓ | 股票-其他 | 1.17% | — | +39.20% | ||
| 32 | FMBM | F & M Bank CORP | 股票-其他 | 1.12% | +0.15% | -0.69% | |
| 33 | APLE | Apple Hospitality Reit Inc | 股票-房地產 | 1.10% | +0.37% | +1.23% | |
| 34 | CWBC | Community West Bancshares | 股票-其他 | 1.08% | +0.11% | +0.06% | |
| 35 | XRN | Chiron Real Estate Inc | 股票-其他 | 1.07% | +0.22% | — | |
| 36 | CSBB | Csb Bancorp Inc | 股票-其他 | 1.06% | -0.03% | -2.90% | |
| 37 | ALRS | Alerus Financial CORP | 股票-其他 | 1.04% | +0.22% | -5.13% | |
| 38 | ENR | Energizer Holdings Inc | 股票-其他 | 1.01% | +0.21% | +12.91% | |
| 39 | ✓ | 股票-其他 | 0.99% | — | -0.42% | ||
| 40 | MFGI | Merchants Financial Group In | 股票-其他 | 0.96% | +0.16% | +19.42% | |
| 41 | HCI | Hci Group Inc | 股票-其他 | 0.94% | +0.04% | — | |
| 42 | MOAT | Vaneck Morningstar Wide Moat | ETF-其他 | 0.89% | +0.05% | +21.53% | |
| 43 | LXPUSD | Lxp Industrial Trust | 股票-其他 | 0.83% | — | +4.69% | |
| 44 | SFL | SFL Corporation Ltd. | 股票-其他 | 0.83% | -0.12% | +1.48% | |
| 45 | ACI | Albertsons Cos Inc - Class A | 股票-非循環性消費 | 0.82% | -0.04% | +9.69% | |
| 46 | AIG | American International Group | 股票-金融 | 0.82% | -0.03% | — | |
| 47 | ABCB | Ameris Bancorp | 股票-金融 | 0.81% | +0.05% | — | |
| 48 | ✓ | Duke Energy | 股票-其他 | 0.73% | — | — | |
| 49 | ✓ | Ford Motor Co | 股票-其他 | 0.73% | — | -0.22% | |
| 50 | FCCO | First Community CORP | 股票-其他 | 0.69% | +0.05% | — |
| # | 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 | +2.2% | +3.57% | 加碼 |
| 2 | AEM | Agnico Eagle Mines LTD | +1.5% | -7.11% | 減碼 |
| 3 | ✓ | +0.9% | +222.87% | 加碼 | |
| 4 | ✓ | +0.7% | +39.20% | 加碼 | |
| 5 | ✓ | +0.5% | +46.89% | 加碼 | |
| 6 | ✓ | +0.4% | +51.15% | 加碼 | |
| 7 | BMBN | Benchmark Bankshares Inc | +0.2% | -0.41% | 加碼 |
| 8 | FMBM | F & M Bank CORP | +0.2% | -0.69% | 減碼 |
| 9 | PTBS | Potomac Bancshares Inc | +0.2% | +4.47% | 加碼 |
| 10 | MOAT | Vaneck Morningstar Wide Moat | +0.2% | +21.53% | 加碼 |
| 11 | SLB | Slb LTD | +0.2% | +60.01% | 加碼 |
| 12 | ✓ | Airbnb Inc Bond | +0.2% | — | 加碼 |
| 13 | MFGI | Merchants Financial Group In | +0.2% | +19.42% | 加碼 |
| 14 | BORT | Bank Of Botetourt Buchanan V | +0.2% | -2.12% | 加碼 |
| 15 | FSBH | Fsbh CORP | +0.2% | — | 不變 |
| 16 | GDX | Vaneck Gold Miners ETF | +0.2% | -3.25% | 減碼 |
| 17 | ABCB | Ameris Bancorp | +0.1% | — | 加碼 |
| 18 | ORCL | Oracle CORP | +0.1% | — | 不變 |
| 19 | PKBK | Parke Bancorp Inc | +0.1% | +0.32% | 加碼 |
| 20 | FCCO | First Community CORP | +0.1% | — | 不變 |
| 21 | CPKF | Chesapeake Finl Shs Inc | +0.1% | +3.41% | 加碼 |
| 22 | AGI | Alamos Gold Inc-class A | +0.1% | +69.53% | 加碼 |
| 23 | VOO | Vanguard S&p 500 ETF | +0.1% | +40.75% | 加碼 |
| 24 | VZ | Verizon Communications Inc | +0.1% | +17.08% | 加碼 |
| 25 | ENR | Energizer Holdings Inc | +0.1% | +12.91% | 加碼 |
| 26 | CZBT | Citizens Bancorp Of Virginia | +0.1% | +21.23% | 加碼 |
| 27 | VTRS | Viatris Inc | +0.1% | +0.01% | 減碼 |
| 28 | MSFT | Microsoft CORP | +0.1% | +1.49% | 減碼 |
| 29 | CWBC | Community West Bancshares | 0% | +0.06% | 加碼 |
| 30 | BANC | Banc Of California Inc | 0% | +1.29% | 加碼 |
| 31 | GOOGL | Alphabet Inc-cl A | 0% | +4.56% | 加碼 |
| 32 | QQQ | Invesco Qqq Trust Series 1 | 0% | +66.20% | 加碼 |
| 33 | ALRS | Alerus Financial CORP | 0% | -5.13% | 減碼 |
| 34 | HWC | Hancock Whitney CORP | 0% | — | 不變 |
| 35 | LXPUSD | Lxp Industrial Trust | 0% | +4.69% | 加碼 |
| 36 | FISI | Financial Institutions Inc | 0% | +0.84% | 加碼 |
| 37 | WIW | Western Asst Infl-lnk Opp | 0% | +2.36% | 加碼 |
| 38 | JPM | Jpmorgan Chase & Co | 0% | — | 減碼 |
| 39 | FRAF | Franklin Financial Services | 0% | — | 不變 |
| 40 | JNJ | Johnson & Johnson | 0% | -5.97% | 減碼 |
| 41 | AMZN | Amazon.com Inc | 0% | +2.40% | 加碼 |
| 42 | CSBB | Csb Bancorp Inc | — | -2.90% | 減碼 |
| 43 | EPR 5.75 PERP C債券 | Epr Properties | — | — | 減碼 |
| 44 | PFIS | Peoples Financial Services | — | — | 不變 |
| 45 | MTB | M & T Bank CORP | — | +1.86% | 加碼 |
| 46 | SBCF | Seacoast Banking Corp/fl | — | — | 不變 |
| 47 | SSBUSD | Southstate Bank CORP | — | — | 不變 |
| 48 | SCHF | Schwab Intl Equity ETF | — | — | 不變 |
| 49 | IBM | Intl Business Machines CORP | — | — | 不變 |
| 50 | DUK | Duke Energy CORP | — | +12.25% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Cutler Capital Management, LLC 在 Q3 2025 季度的美股持倉總市值約為 US$3.9億，共申報了 124 個公開持股部位。
在 Q3 2025 季度，Cutler Capital Management, LLC 按市值排列的前三大核心持股分別為：AEM (6.6%)、MET (4.3%)、CTO (3.5%)。其中最大持股部位 AEM 佔據整體投資組合約 6.6% 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
XRN
市值: US$335.3萬
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 Q3 2025 季度中，Cutler Capital Management, LLC 共進行了 117 項持倉異動，包含新建倉 21 個部位、加碼 44 個部位、減碼 38 個部位以及清倉 14 個部位。 其中最大新建倉標的為 XRN。 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。