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: 0001389507
申報總市值
US$24.1億
US$24.1億
88 檔
19.2%
Q4 2025 季度申報顯示，Discovery Capital Management, LLC / Ct 揭露的美股組合總市值為 US$24.1億，涵蓋 88 個不同之權益投資部位。
Q4 2025 的申報記錄反映 Discovery Capital Management, LLC / Ct 的板塊替換策略：機構本季推動了 63 筆增持與 54 筆減持，籌碼呈現明顯的結構重組。
檢視投資組合結構，前 5 大主力部位（包含 AMKR, METC, IREN）占據了總市值的 19.2%，展現出該機構在 Q4 2025 的重點資金聚焦與風險分佈特徵。
| # | 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 | AMKR | Amkor Technology Inc | 股票-科技 | 5.59% | — | — | |
| 2 | METC | Ramaco Resources Inc-a | 股票-其他 | 5.37% | -1.51% | +1.08% | |
| 3 | IREN | IREN Limited | 股票-其他 | 5.28% | -2.93% | -23.24% | |
| 4 | AMX | America Movil Sab De Cv | 股票-其他 | 4.80% | -1.58% | -8.33% | |
| 5 | JPM | Jpmorgan Chase & Co | 股票-金融 | 3.96% | -0.30% | +33.02% | |
| 6 | TV | Grupo Televisa Sa-spon Adr | 股票-其他 | 3.44% | -0.89% | +20.43% | |
| 7 | COHR | Coherent CORP | 股票-科技 | 3.28% | +0.06% | NEW | |
| 8 | COF | Capital One Financial CORP | 股票-金融 | 3.05% | -1.11% | +14.78% | |
| 9 | VNET | Vnet Group Inc-adr | 股票-其他 | 2.89% | -2.62% | EXIT | |
| 10 | GDS | Gds Holdings LTD - Adr | 股票-其他 | 2.70% | — | +35.20% | |
| 11 | GENI | Genius Sports Limited | 股票-其他 | 2.48% | +0.10% | -18.70% | |
| 12 | JBS | Jbs N.v. | 股票-其他 | 2.30% | -0.46% | +512.74% | |
| 13 | EAT | Brinker International Inc | 股票-循環性消費 | 1.94% | — | +32.12% | |
| 14 | CX | Cemex Sab-spons Adr Part Cer | 股票-其他 | 1.92% | -0.50% | -3.31% | |
| 15 | TTWO | Take-two Interactive Softwre | 股票-通訊服務 | 1.90% | +1.19% | NEW | |
| 16 | GGAL | Grupo Financiero Galicia-adr | 股票-其他 | 1.87% | -0.20% | — | |
| 17 | COMP | Compass Inc - Class A | 股票-房地產 | 1.77% | +1.54% | +35.83% | |
| 18 | PPTA | Perpetua Resources CORP | 股票-其他 | 1.71% | -0.89% | +148.37% | |
| 19 | PSN | Parsons CORP | 股票-科技 | 1.67% | -0.25% | +13.90% | |
| 20 | MU | Micron Technology Inc | 股票-科技 | 1.62% | -4.78% | — | |
| 21 | AVGO | Broadcom Inc | 股票-科技 | 1.56% | — | — | |
| 22 | PRMB | Primo Brands CORP | 股票-非循環性消費 | 1.54% | +0.03% | -2.80% | |
| 23 | AMD | Advanced Micro Devices | 股票-科技 | 1.52% | +0.19% | NEW | |
| 24 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.50% | — | — | |
| 25 | HDB | Hdfc Bank Ltd-adr | 股票-金融 | 1.49% | -0.24% | EXIT | |
| 26 | CLF | Cleveland-cliffs Inc | 股票-原物料 | 1.42% | -0.64% | EXIT | |
| 27 | LRCX | Lam Research CORP | 股票-科技 | 1.41% | -3.23% | — | |
| 28 | QXO | Qxo Inc | 股票-工業 | 1.41% | -0.50% | -26.63% | |
| 29 | ORBS | Eightco Holdings Inc | 股票-其他 | 1.39% | — | +3.38% | |
| 30 | APP | Applovin Corp-class A | 股票-科技 | 1.36% | +0.73% | +22.74% | |
| 31 | BAP | Credicorp Ltd. | 股票-金融 | 1.28% | +1.92% | +32.42% | |
| 32 | LITE | Lumentum Holdings Inc | 股票-科技 | 1.24% | — | — | |
| 33 | AWI | Armstrong World Industries | 股票-工業 | 1.22% | — | — | |
| 34 | GEO | Geo Group Inc/the | 股票-其他 | 1.14% | +0.29% | -3.39% | |
| 35 | CHDN | Churchill Downs Inc | 股票-循環性消費 | 1.04% | -0.24% | — | |
| 36 | ECHO | Echostar Corp-a | 股票-通訊服務 | 1.02% | -2.30% | +45.50% | |
| 37 | ✓ | Grayscale Digital Large Cap | 股票-其他 | 0.95% | — | -76.63% | |
| 38 | FISV | Fiserv Inc | 股票-其他 | 0.94% | +0.22% | +161.21% | |
| 39 | BA | Boeing Co/the | 股票-工業 | 0.90% | — | — | |
| 40 | PINS | Pinterest Inc- Class A | 股票-通訊服務 | 0.87% | -0.16% | +75.23% | |
| 41 | ADBE | Adobe Inc | 股票-科技 | 0.72% | — | — | |
| 42 | STUB | Stubhub Holdings Inc-class A | 股票-其他 | 0.70% | +0.06% | +61.95% | |
| 43 | HTZWW | Hertz Global Hldgs Inc -cw51 | 股票-其他 | 0.68% | -0.34% | — | |
| 44 | UAL | United Airlines Holdings Inc | 股票-工業 | 0.64% | — | — | |
| 45 | ACMR | Acm Research Inc-class A | 股票-其他 | 0.63% | — | +344.74% | |
| 46 | SOLV | Solventum CORP | 股票-醫療保健 | 0.63% | — | +83.67% | |
| 47 | DAL | Delta Air Lines Inc | 股票-工業 | 0.63% | — | — | |
| 48 | ✓ | Establishment Labs Holdings In | 股票-其他 | 0.61% | — | — | |
| 49 | DDOG | Datadog Inc - Class A | 股票-科技 | 0.61% | +0.15% | NEW | |
| 50 | MCD | Mcdonald's CORP | 股票-循環性消費 | 0.61% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | VNET | Vnet Group Inc-adr | +2% | +291.40% | 加碼 |
| 2 | JBS | Jbs N.v. | +1.9% | +512.74% | 加碼 |
| 3 | PPTA | Perpetua Resources CORP | +1.1% | +148.37% | 加碼 |
| 4 | JPM | Jpmorgan Chase & Co | +1% | +33.02% | 加碼 |
| 5 | TV | Grupo Televisa Sa-spon Adr | +0.8% | +20.43% | 加碼 |
| 6 | COMP | Compass Inc - Class A | +0.8% | +35.83% | 加碼 |
| 7 | COF | Capital One Financial CORP | +0.7% | +14.78% | 加碼 |
| 8 | EAT | Brinker International Inc | +0.6% | +32.12% | 加碼 |
| 9 | ECHO | Echostar Corp-a | +0.5% | +45.50% | 加碼 |
| 10 | ACMR | Acm Research Inc-class A | +0.5% | +344.74% | 加碼 |
| 11 | GDS | Gds Holdings LTD - Adr | +0.5% | +35.20% | 加碼 |
| 12 | BAP | Credicorp Ltd. | +0.4% | +32.42% | 加碼 |
| 13 | CX | Cemex Sab-spons Adr Part Cer | +0.3% | -3.31% | 減碼 |
| 14 | SOLV | Solventum CORP | +0.3% | +83.67% | 加碼 |
| 15 | ✓ | Establishment Labs Holdings In | +0.3% | — | 不變 |
| 16 | ✓ | Adeco Agro | +0.3% | +93.53% | 加碼 |
| 17 | PINS | Pinterest Inc- Class A | +0.2% | +75.23% | 加碼 |
| 18 | FISV | Fiserv Inc | +0.2% | +161.21% | 加碼 |
| 19 | CLF | Cleveland-cliffs Inc | +0.2% | +11.25% | 加碼 |
| 20 | APP | Applovin Corp-class A | +0.2% | +22.74% | 加碼 |
| 21 | STUB | Stubhub Holdings Inc-class A | +0.2% | +61.95% | 加碼 |
| 22 | TTWO | Take-two Interactive Softwre | +0.1% | +6.54% | 加碼 |
| 23 | HDB | Hdfc Bank Ltd-adr | +0.1% | — | 不變 |
| 24 | BCO | Brink's Co/the | +0.1% | +27.48% | 加碼 |
| 25 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +396.69% | 加碼 |
| 26 | MLPX | Global X Mlp & Energy Infras | 0% | +283.34% | 加碼 |
| 27 | METCB | Ramaco Resources Inc-b | 0% | +69.41% | 加碼 |
| 28 | SN | SharkNinja, Inc. | 0% | — | 不變 |
| 29 | BIDU | Baidu Inc - Spon Adr | 0% | — | 不變 |
| 30 | IWM | Ishares Russell 2000 ETF | 0% | -11.38% | 減碼 |
| 31 | EEM | Ishares Msci Emerging Market | 0% | -50.75% | 減碼 |
| 32 | AEM | Agnico Eagle Mines LTD | 0% | -3.08% | 減碼 |
| 33 | SLM | Slm CORP | -0.1% | -37.80% | 減碼 |
| 34 | FRO | Frontline plc | -0.1% | -35.96% | 減碼 |
| 35 | SNAP | Snap Inc - A | -0.1% | -25.31% | 減碼 |
| 36 | GLNG | Golar LNG Limited | -0.2% | -26.50% | 減碼 |
| 37 | NU | Nu Holdings Ltd. | -0.2% | -38.21% | 減碼 |
| 38 | DDOG | Datadog Inc - Class A | -0.3% | -25.05% | 減碼 |
| 39 | HTZWW | Hertz Global Hldgs Inc -cw51 | -0.3% | — | 不變 |
| 40 | PSN | Parsons CORP | -0.3% | +13.90% | 加碼 |
| 41 | GEO | Geo Group Inc/the | -0.4% | -3.39% | 減碼 |
| 42 | IBIT | Ishares Bitcoin Trust ETF | -0.5% | -95.19% | 減碼 |
| 43 | QXO | Qxo Inc | -0.5% | -26.63% | 減碼 |
| 44 | AMX | America Movil Sab De Cv | -0.6% | -8.33% | 減碼 |
| 45 | PRMB | Primo Brands CORP | -0.6% | -2.80% | 減碼 |
| 46 | EWW | Ishares Msci Mexico ETF | -1% | -71.47% | 減碼 |
| 47 | GENI | Genius Sports Limited | -1% | -18.70% | 減碼 |
| 48 | CLS | Celestica Inc | -1.5% | -93.96% | 減碼 |
| 49 | IREN | IREN Limited | -3.4% | -23.24% | 減碼 |
| 50 | METC | Ramaco Resources Inc-a | -4.6% | +1.08% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Discovery Capital Management, LLC / Ct 在 Q4 2025 季度的美股持倉總市值約為 US$24.1億，共申報了 88 個公開持股部位。
在 Q4 2025 季度，Discovery Capital Management, LLC / Ct 按市值排列的前三大核心持股分別為：AMKR (5.6%)、METC (5.4%)、IREN (5.3%)。其中最大持股部位 AMKR 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
AMKR
市值: US$1.0億
本季最大獲利了結 / 清倉標的
VIST
前期市值: US$4074.9萬
在 Q4 2025 季度中，Discovery Capital Management, LLC / Ct 共進行了 117 項持倉異動，包含新建倉 36 個部位、加碼 27 個部位、減碼 20 個部位以及清倉 34 個部位。 其中最大新建倉標的為 AMKR。 本季清倉部位包含 VIST。
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。