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: 0001853322
申報總市值
US$15.5億
US$15.5億
1111 檔
6.4%
Q3 2025 季度申報顯示，Dark Forest Capital Management LP 揭露的美股組合總市值為 US$15.5億，涵蓋 1111 個不同之權益投資部位。
在 Q3 2025，Dark Forest Capital Management LP 操作展現出積極擴展與加碼意向。本季共新建倉 75 個新部位，並對 54 個既有持股進行加碼（合計增持 129 檔），相較減碼與清倉部位顯著佔優。
整體而言，Dark Forest Capital Management LP 的前 5 大持股（包含 L, EWZ, SPG）貢獻了組合市值的 6.4%，形成該機構在 Q3 2025 季度的基本面基石。
僅顯示前 200 大持股（共 1111 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 | L | Loews CORP | 股票-金融 | 0.84% | +0.32% | +582.75% | |
| 2 | EWZ | Ishares Msci Brazil ETF | ETF-其他 | 0.83% | -0.02% | EXIT | |
| 3 | SPG | Simon Property Group Inc | 股票-房地產 | 0.79% | — | +9.58% | |
| 4 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 0.64% | — | — | |
| 5 | INDA | Ishares Msci India ETF | ETF-其他 | 0.64% | +1.09% | NEW | |
| 6 | COF | Capital One Financial CORP | 股票-金融 | 0.61% | +0.06% | NEW | |
| 7 | BAH | Booz Allen Hamilton Holdings | 股票-工業 | 0.57% | — | +98.63% | |
| 8 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.55% | +0.15% | NEW | |
| 9 | WMT | Walmart Inc | 股票-非循環性消費 | 0.50% | -0.30% | EXIT | |
| 10 | MSFT | Microsoft CORP | 股票-科技 | 0.44% | +0.01% | -38.64% | |
| 11 | AXS | AXIS Capital Holdings Limited | 股票-金融 | 0.42% | -0.13% | +179.78% | |
| 12 | CTAS | Cintas CORP | 股票-工業 | 0.42% | +0.12% | +55.80% | |
| 13 | AMZN | Amazon.com Inc | 股票-循環性消費 | 0.41% | -0.15% | -18.35% | |
| 14 | BPOP | Popular Inc | 股票-金融 | 0.41% | -1.05% | EXIT | |
| 15 | XBI | Ss Spdr S&p Biotech ETF | ETF-科技型 | 0.40% | — | — | |
| 16 | ALSN | Allison Transmission Holding | 股票-循環性消費 | 0.40% | -0.31% | +157.14% | |
| 17 | OLED | Universal Display CORP | 股票-科技 | 0.40% | +0.07% | +171.76% | |
| 18 | LRCX | Lam Research CORP | 股票-科技 | 0.39% | +0.03% | +124.64% | |
| 19 | NFLX | Netflix Inc | 股票-通訊服務 | 0.39% | -0.14% | EXIT | |
| 20 | AXP | American Express Co | 股票-金融 | 0.39% | +0.46% | NEW | |
| 21 | TIP | Ishares Tips Bond ETF | ETF-其他 | 0.38% | — | — | |
| 22 | PNW | Pinnacle West Capital | 股票-公用事業 | 0.37% | -0.24% | EXIT | |
| 23 | FITB | Fifth Third Bancorp | 股票-金融 | 0.37% | +0.22% | +155.19% | |
| 24 | UNP | Union Pacific CORP | 股票-工業 | 0.36% | -0.71% | +15.17% | |
| 25 | GIS | General Mills Inc | 股票-非循環性消費 | 0.36% | — | +39.12% | |
| 26 | IDA | Idacorp Inc | 股票-公用事業 | 0.35% | -0.19% | EXIT | |
| 27 | TCBI | Texas Capital Bancshares Inc | 股票-金融 | 0.35% | — | +150.51% | |
| 28 | FERG | Ferguson Enterprises Inc | 股票-工業 | 0.34% | -0.56% | -29.55% | |
| 29 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.34% | +0.02% | — | |
| 30 | NLY | Annaly Capital Management In | 股票-房地產 | 0.34% | — | +18.63% | |
| 31 | MTB | M & T Bank CORP | 股票-金融 | 0.33% | — | — | |
| 32 | DTE | Dte Energy Company | 股票-公用事業 | 0.31% | +0.04% | +617.44% | |
| 33 | CACI | Caci International Inc -cl A | 股票-科技 | 0.31% | — | +53.42% | |
| 34 | PECO | Phillips Edison & Company In | 股票-房地產 | 0.31% | — | +1193.40% | |
| 35 | POR | Portland General Electric Co | 股票-公用事業 | 0.31% | +0.18% | NEW | |
| 36 | PLD | Prologis Inc | 股票-房地產 | 0.30% | — | +87.07% | |
| 37 | ZM | Zoom Communications Inc | 股票-科技 | 0.30% | -0.33% | +328.09% | |
| 38 | OVV | Ovintiv Inc | 股票-能源 | 0.30% | +0.07% | +162.70% | |
| 39 | PB | Prosperity Bancshares Inc | 股票-金融 | 0.30% | +0.19% | NEW | |
| 40 | TSCO | Tractor Supply Company | 股票-循環性消費 | 0.30% | +0.13% | NEW | |
| 41 | RPRX | Royalty Pharma plc | 股票-醫療保健 | 0.30% | +0.01% | — | |
| 42 | RGA | Reinsurance Group Of America | 股票-金融 | 0.30% | — | — | |
| 43 | CB | Chubb Limited | 股票-金融 | 0.29% | -0.13% | +172.18% | |
| 44 | ROKU | Roku Inc | 股票-通訊服務 | 0.29% | -0.88% | EXIT | |
| 45 | TKO | Tko Group Holdings Inc | 股票-通訊服務 | 0.29% | — | +110.87% | |
| 46 | LAUR | Laureate Education Inc | 股票-其他 | 0.29% | -0.10% | EXIT | |
| 47 | NVDA | Nvidia CORP | 股票-科技 | 0.29% | -0.21% | -63.41% | |
| 48 | KEX | Kirby CORP | 股票-工業 | 0.29% | — | +170.41% | |
| 49 | SON | Sonoco Products Co | 股票-循環性消費 | 0.28% | -0.10% | EXIT | |
| 50 | SUI | Sun Communities Inc | 股票-房地產 | 0.28% | -0.50% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | L | Loews CORP | +0.7% | +582.75% | 加碼 |
| 2 | SPG | Simon Property Group Inc | +0.7% | +9.58% | 加碼 |
| 3 | EWZ | Ishares Msci Brazil ETF | +0.7% | +417.21% | 加碼 |
| 4 | VWO | Vanguard Ftse Emerging Marke | +0.6% | — | 加碼 |
| 5 | COF | Capital One Financial CORP | +0.5% | +58.75% | 加碼 |
| 6 | GS | Goldman Sachs Group Inc | +0.4% | +162.24% | 加碼 |
| 7 | CTAS | Cintas CORP | +0.3% | +55.80% | 加碼 |
| 8 | NFLX | Netflix Inc | +0.3% | +77.90% | 加碼 |
| 9 | PNW | Pinnacle West Capital | +0.3% | — | 加碼 |
| 10 | AXP | American Express Co | +0.3% | +84.32% | 加碼 |
| 11 | CACI | Caci International Inc -cl A | +0.3% | +53.42% | 加碼 |
| 12 | MTB | M & T Bank CORP | +0.3% | — | 加碼 |
| 13 | TCBI | Texas Capital Bancshares Inc | +0.3% | +150.51% | 加碼 |
| 14 | GIS | General Mills Inc | +0.3% | +39.12% | 加碼 |
| 15 | RGA | Reinsurance Group Of America | +0.3% | — | 加碼 |
| 16 | BAH | Booz Allen Hamilton Holdings | +0.3% | +98.63% | 加碼 |
| 17 | LRCX | Lam Research CORP | +0.3% | +124.64% | 加碼 |
| 18 | OLED | Universal Display CORP | +0.2% | +171.76% | 加碼 |
| 19 | NLY | Annaly Capital Management In | +0.2% | +18.63% | 加碼 |
| 20 | ESNT | Essent Group Ltd. | +0.2% | +24.07% | 加碼 |
| 21 | ENS | Enersys | +0.2% | — | 加碼 |
| 22 | URI | United Rentals Inc | +0.2% | +83.01% | 加碼 |
| 23 | STZ | Constellation Brands Inc-a | +0.2% | +940.79% | 加碼 |
| 24 | OMF | Onemain Holdings Inc | +0.2% | +291.08% | 加碼 |
| 25 | MSI | Motorola Solutions Inc | +0.2% | +918.83% | 加碼 |
| 26 | FERG | Ferguson Enterprises Inc | +0.2% | -29.55% | 加碼 |
| 27 | FTAI | FTAI Aviation Ltd. | +0.2% | +2.33% | 加碼 |
| 28 | SYNA | Synaptics Inc | +0.2% | +66.57% | 加碼 |
| 29 | VLO | Valero Energy CORP | +0.2% | +821.60% | 加碼 |
| 30 | DHI | Dr Horton Inc | +0.2% | +139.10% | 加碼 |
| 31 | DLTR | Dollar Tree Inc | +0.2% | -18.28% | 加碼 |
| 32 | UHAL-B | U-haul Holding Co-non Voting | +0.2% | +176.79% | 加碼 |
| 33 | KEX | Kirby CORP | +0.2% | +170.41% | 加碼 |
| 34 | BFAM | Bright Horizons Family Solut | +0.2% | — | 加碼 |
| 35 | INVH | Invitation Homes Inc | +0.2% | — | 加碼 |
| 36 | BEN | Franklin Resources Inc | +0.2% | +1286.72% | 加碼 |
| 37 | PCAR | Paccar Inc | +0.2% | — | 加碼 |
| 38 | GGG | Graco Inc | +0.2% | -49.34% | 加碼 |
| 39 | MDB | Mongodb Inc | +0.2% | -5.33% | 加碼 |
| 40 | AMAT | Applied Materials Inc | +0.2% | +72.76% | 加碼 |
| 41 | PLD | Prologis Inc | +0.1% | +87.07% | 加碼 |
| 42 | PB | Prosperity Bancshares Inc | +0.1% | +29.83% | 加碼 |
| 43 | SFD | Smithfield Foods Inc | +0.1% | +661.54% | 加碼 |
| 44 | ALNY | Alnylam Pharmaceuticals Inc | +0.1% | — | 加碼 |
| 45 | JKHY | Jack Henry & Associates Inc | +0.1% | — | 加碼 |
| 46 | CFG | Citizens Financial Group | +0.1% | +123.11% | 加碼 |
| 47 | DEI | Douglas Emmett Inc | +0.1% | -35.02% | 加碼 |
| 48 | KHC | Kraft Heinz Co/the | +0.1% | -37.00% | 加碼 |
| 49 | TKO | Tko Group Holdings Inc | +0.1% | +110.87% | 加碼 |
| 50 | IRDM | Iridium Communications Inc | +0.1% | +395.84% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Dark Forest Capital Management LP 在 Q3 2025 季度的美股持倉總市值約為 US$15.5億，共申報了 1111 個公開持股部位。
在 Q3 2025 季度，Dark Forest Capital Management LP 按市值排列的前三大核心持股分別為：L (0.8%)、EWZ (0.8%)、SPG (0.8%)。其中最大持股部位 L 佔據整體投資組合約 0.8% 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
INDA
市值: US$1688.5萬
本季最大獲利了結 / 清倉標的
GOOGL
前期市值: US$2359.9萬
在 Q3 2025 季度中，Dark Forest Capital Management LP 共進行了 200 項持倉異動，包含新建倉 75 個部位、加碼 54 個部位、減碼 21 個部位以及清倉 50 個部位。 其中最大新建倉標的為 INDA。 本季清倉部位包含 GOOGL。
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。