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: 0001894484
申報總市值
US$7.6億
US$7.6億
224 檔
18.5%
在 Q1 2025 的 13F 官方備案中，Fourpath Capital Management, LLC 管理的美股投資組合規模來到 US$7.6億，整體持股檔數為 224 檔。
從 Q1 2025 申報觀察，Fourpath Capital Management, LLC 採取防禦導向的調倉策略，本季減碼 24 檔個股並出清 6 檔部位，顯示機構在該時期進行風險控制與流動性回收。
在資產配置集中度方面，Fourpath Capital Management, LLC 的前 5 大核心持股（包含 WMT, IAU, BIL 等）合計佔整體申報市值的 18.5%，反映機構在主要關鍵部位上的權重分佈。
僅顯示前 200 大持股（共 224 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 | WMT | Walmart Inc | 股票-非循環性消費 | 7.92% | -1.52% | -0.00% | |
| 2 | IAU | Ishares Gold Trust | ETF-避險與商品 | 5.52% | -2.25% | +3.44% | |
| 3 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-政府公債 | 3.81% | — | — | |
| 4 | XOM | Exxon Mobil CORP | 股票-能源 | 3.61% | -1.25% | +1.32% | |
| 5 | USFR | Wisdomtree Floating Rate Tre | ETF-其他 | 3.61% | -0.90% | — | |
| 6 | TUA | Sim St Treas Fut Strat ETF | ETF-其他 | 3.09% | — | — | |
| 7 | ET | Energy Transfer LP | 股票-能源 | 2.64% | -0.21% | +0.61% | |
| 8 | LLY | Eli Lilly & Co | 股票-醫療保健 | 2.26% | +0.34% | -1.25% | |
| 9 | AMLP | Alerian Mlp ETF | ETF-其他 | 2.23% | -0.01% | +3.82% | |
| 10 | GLD | Spdr Gold Shares | ETF-避險與商品 | 2.11% | -0.51% | +1.28% | |
| 11 | AAPL | Apple Inc | 股票-科技 | 2.11% | +0.08% | -0.50% | |
| 12 | MSFT | Microsoft CORP | 股票-科技 | 2.04% | -0.15% | -2.03% | |
| 13 | UNP | Union Pacific CORP | 股票-工業 | 1.94% | +0.04% | -0.02% | |
| 14 | CGDV | Cap Group Dividend Value | ETF-其他 | 1.85% | +0.01% | -24.38% | |
| 15 | VGK | Vanguard Ftse Europe ETF | ETF-其他 | 1.83% | — | — | |
| 16 | AJG | Arthur J Gallagher & Co | 股票-金融 | 1.66% | -0.02% | -0.30% | |
| 17 | CVX | Chevron CORP | 股票-能源 | 1.53% | -0.24% | -0.48% | |
| 18 | PTLC | Pacer Trendpilot US Large Ca | ETF-其他 | 1.45% | +0.04% | +13.76% | |
| 19 | MDT | Medtronic plc | 股票-醫療保健 | 1.37% | -0.11% | +0.09% | |
| 20 | JNJ | Johnson & Johnson | 股票-醫療保健 | 1.21% | -0.06% | +0.53% | |
| 21 | WMB | Williams Cos Inc | 股票-能源 | 1.10% | -0.07% | -2.16% | |
| 22 | GDX | Vaneck Gold Miners ETF | ETF-避險與商品 | 1.08% | -0.24% | -25.51% | |
| 23 | SJB | Proshares Short High Yield | ETF-非投資等級債 | 1.08% | — | +4.38% | |
| 24 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 1.04% | -0.16% | -1.01% | |
| 25 | CAT | Caterpillar Inc | 股票-工業 | 1.04% | +0.65% | -0.11% | |
| 26 | LNG | Cheniere Energy Inc | 股票-能源 | 1.01% | -0.23% | -0.95% | |
| 27 | DE | Deere & Co | 股票-工業 | 1.00% | +0.03% | — | |
| 28 | MA | Mastercard Inc - A | 股票-金融 | 0.99% | -0.04% | +0.10% | |
| 29 | SHW | Sherwin-williams Co/the | 股票-原物料 | 0.98% | -0.02% | -1.56% | |
| 30 | AMZN | Amazon.com Inc | 股票-循環性消費 | 0.94% | -0.01% | -1.41% | |
| 31 | T | At&t Inc | 股票-通訊服務 | 0.85% | -0.18% | -3.69% | |
| 32 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.83% | -0.06% | -1.17% | |
| 33 | ROP | Roper Technologies Inc | 股票-科技 | 0.79% | — | -0.05% | |
| 34 | PEP | Pepsico Inc | 股票-非循環性消費 | 0.78% | -0.14% | -0.19% | |
| 35 | KR | Kroger Co | 股票-非循環性消費 | 0.77% | -0.20% | -0.91% | |
| 36 | APH | Amphenol Corp-cl A | 股票-科技 | 0.77% | +0.32% | -0.56% | |
| 37 | ITW | Illinois Tool Works | 股票-工業 | 0.75% | — | -0.36% | |
| 38 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.74% | +0.14% | +0.92% | |
| 39 | CME | Cme Group Inc | 股票-金融 | 0.73% | -0.24% | -0.47% | |
| 40 | AMP | Ameriprise Financial Inc | 股票-金融 | 0.71% | -0.03% | -1.00% | |
| 41 | INTU | Intuit Inc | 股票-科技 | 0.68% | — | -1.81% | |
| 42 | ORLY | O'reilly Automotive Inc | 股票-循環性消費 | 0.68% | -0.05% | +0.07% | |
| 43 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.66% | -0.06% | -0.31% | |
| 44 | IJR | Ishares Core S&p Small-cap E | ETF-中小型股 | 0.65% | +0.01% | -6.98% | |
| 45 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 0.64% | +0.01% | +0.19% | |
| 46 | GE | General Electric | 股票-工業 | 0.61% | +0.16% | +44.58% | |
| 47 | ICE | Intercontinental Exchange In | 股票-金融 | 0.60% | -0.13% | -2.03% | |
| 48 | TSCO | Tractor Supply Company | 股票-循環性消費 | 0.57% | — | +0.63% | |
| 49 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.55% | -0.05% | +3.00% | |
| 50 | HD | Home Depot Inc | 股票-循環性消費 | 0.54% | -0.01% | -0.69% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | BIL | Ss Spdr Bb 1-3m T-bill ETF | +3.8% | NEW | 新建倉 |
| 2 | USFR | Wisdomtree Floating Rate Tre | +3.6% | NEW | 新建倉 |
| 3 | TUA | Sim St Treas Fut Strat ETF | +3.1% | NEW | 新建倉 |
| 4 | VGK | Vanguard Ftse Europe ETF | +1.8% | NEW | 新建倉 |
| 5 | IAU | Ishares Gold Trust | +0.8% | +3.44% | 加碼 |
| 6 | MCK | Mckesson CORP | +0.5% | NEW | 新建倉 |
| 7 | GLD | Spdr Gold Shares | +0.3% | +1.28% | 加碼 |
| 8 | GE | General Electric | +0.2% | +44.58% | 加碼 |
| 9 | BA | Boeing Co/the | +0.2% | NEW | 新建倉 |
| 10 | UBER | Uber Technologies Inc | +0.2% | +55.51% | 加碼 |
| 11 | AJG | Arthur J Gallagher & Co | +0.2% | -0.30% | 減碼 |
| 12 | XOM | Exxon Mobil CORP | +0.2% | +1.32% | 加碼 |
| 13 | AMLP | Alerian Mlp ETF | +0.1% | +3.82% | 加碼 |
| 14 | CVX | Chevron CORP | +0.1% | -0.48% | 減碼 |
| 15 | T | At&t Inc | +0.1% | -3.69% | 減碼 |
| 16 | JNJ | Johnson & Johnson | +0.1% | +0.53% | 加碼 |
| 17 | MDT | Medtronic plc | +0.1% | +0.09% | 加碼 |
| 18 | ORLY | O'reilly Automotive Inc | +0.1% | +0.07% | 加碼 |
| 19 | BSCT | Invesco Bulletshares 2029 Cb | +0.1% | NEW | 新建倉 |
| 20 | PTLC | Pacer Trendpilot US Large Ca | +0.1% | +13.76% | 加碼 |
| 21 | ROP | Roper Technologies Inc | +0.1% | -0.05% | 減碼 |
| 22 | DE | Deere & Co | 0% | — | 不變 |
| 23 | CME | Cme Group Inc | 0% | -0.47% | 減碼 |
| 24 | KO | Coca-cola Co/the | 0% | -0.31% | 減碼 |
| 25 | ICE | Intercontinental Exchange In | 0% | -2.03% | 減碼 |
| 26 | WMB | Williams Cos Inc | 0% | -2.16% | 減碼 |
| 27 | KR | Kroger Co | 0% | -0.91% | 減碼 |
| 28 | LLY | Eli Lilly & Co | 0% | -1.25% | 減碼 |
| 29 | AVGO | Broadcom Inc | -0.1% | -7.13% | 減碼 |
| 30 | NVDA | Nvidia CORP | -0.1% | -2.61% | 減碼 |
| 31 | NOW | Servicenow Inc | -0.1% | -0.09% | 減碼 |
| 32 | AMP | Ameriprise Financial Inc | -0.1% | -1.00% | 減碼 |
| 33 | ISRG | Intuitive Surgical Inc | -0.1% | -1.01% | 減碼 |
| 34 | IJR | Ishares Core S&p Small-cap E | -0.2% | -6.98% | 減碼 |
| 35 | CAT | Caterpillar Inc | -0.2% | -0.11% | 減碼 |
| 36 | GOOG | Alphabet Inc-cl C | -0.2% | +0.92% | 加碼 |
| 37 | AMZN | Amazon.com Inc | -0.2% | -1.41% | 減碼 |
| 38 | IEX | Idex CORP | -0.3% | EXIT | 清倉 |
| 39 | ET | Energy Transfer LP | -0.3% | +0.61% | 加碼 |
| 40 | AAPL | Apple Inc | -0.4% | -0.50% | 減碼 |
| 41 | MSFT | Microsoft CORP | -0.5% | -2.03% | 減碼 |
| 42 | DHR | Danaher CORP | -0.6% | EXIT | 清倉 |
| 43 | HON | Honeywell International Inc | -0.7% | -88.35% | 減碼 |
| 44 | CGDV | Cap Group Dividend Value | -0.7% | -24.38% | 減碼 |
| 45 | WMT | Walmart Inc | -0.8% | -0.00% | 減碼 |
| 46 | URA | Global X Uranium ETF | -1% | EXIT | 清倉 |
| 47 | AIRR | First Trust Rba American Ind | -1.4% | EXIT | 清倉 |
| 48 | XLE | Ss Energy Select Sector | -1.4% | -94.98% | 減碼 |
| 49 | INFL | Horizon Kinetics Infl Benef | -2.1% | EXIT | 清倉 |
| 50 | SPHD | Invesco S&p 500 High Dividen | -2.6% | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Fourpath Capital Management, LLC 在 Q1 2025 季度的美股持倉總市值約為 US$7.6億，共申報了 224 個公開持股部位。
在 Q1 2025 季度，Fourpath Capital Management, LLC 按市值排列的前三大核心持股分別為：WMT (7.9%)、IAU (5.5%)、BIL (3.8%)。其中最大持股部位 WMT 佔據整體投資組合約 7.9% 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
BIL
市值: US$2192.8萬
本季最大獲利了結 / 清倉標的
SPHD
前期市值: US$1380.5萬
在 Q1 2025 季度中，Fourpath Capital Management, LLC 共進行了 49 項持倉異動，包含新建倉 7 個部位、加碼 12 個部位、減碼 24 個部位以及清倉 6 個部位。 其中最大新建倉標的為 BIL。 本季清倉部位包含 SPHD。
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。