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: 0000919185
申報總市值
US$41.1億
US$41.1億
307 檔
14.7%
Q3 2025 季度申報顯示，Highbridge Capital Management LLC 揭露的美股組合總市值為 US$41.1億，涵蓋 307 個不同之權益投資部位。
Highbridge 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 86 個全新部位及加碼 18 檔持股的同時，亦同步清倉 57 檔並減碼 35 檔標的。
檢視投資組合結構，前 5 大主力部位（包含 Invesco QQQ Tr Put Option 06/2, F 0 03-15-26, BABA 0.5 06-01-31）占據了總市值的 14.7%，展現出該機構在 Q3 2025 的重點資金聚焦與風險分佈特徵。
僅顯示前 200 大持股（共 307 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 | ✓ | Invesco QQQ Tr Put Option 06/2 | 股票-其他 | 6.54% | — | — | |
| 2 | F 0 03-15-26債券 | Ford Motor Company | 債券 | 6.19% | — | -3.45% | |
| 3 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | 債券 | 5.62% | -0.29% | -17.65% | |
| 4 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投資等級債 | 4.51% | +0.58% | NEW | |
| 5 | TLT | iShares 20+ Year Treasury Bond ETF | ETF-政府公債 | 3.54% | -10.16% | — | |
| 6 | EVRG 4.5 12-15-27債券 | Evergy Inc | 債券 | 2.73% | — | +150.00% | |
| 7 | SPOT 0 03-15-26債券 | Spotify USA Inc | 債券 | 2.39% | — | -6.98% | |
| 8 | VRNA | Verona Pharma PLC - Adr | 股票-其他 | 2.32% | — | — | |
| 9 | BSY 0.125 01-15-26債券 | Bentley Systems Inc | 債券 | 1.91% | — | -24.79% | |
| 10 | DBX 0 03-01-28債券 | Dropbox Inc | 債券 | 1.87% | — | — | |
| 11 | UBER 0 12-15-25債券 | Uber Technologies Inc | 債券 | 1.87% | — | — | |
| 12 | NIO 3.875 10-15-29債券 | Nio Inc | 債券 | 1.84% | +0.21% | NEW | |
| 13 | WK 1.25 08-15-28債券 | Workiva Inc | 債券 | 1.84% | -0.46% | EXIT | |
| 14 | DBX 0 03-01-26債券 | Dropbox Inc | 債券 | 1.81% | — | — | |
| 15 | GME | GameStop Corp. | 股票-循環性消費 | 1.78% | +1.30% | NEW | |
| 16 | BAC 0.6 05-25-27 MTN債券 | Bofa Finance LLC | 債券 | 1.72% | +0.13% | -4.71% | |
| 17 | FYBR | Frontier Communications Pare | 股票-其他 | 1.64% | — | +5.22% | |
| 18 | TXNM | Txnm Energy Inc | 股票-公用事業 | 1.60% | — | +2063.56% | |
| 19 | FOX | Fox CORP - Class B | 股票-通訊服務 | 1.55% | — | +85.42% | |
| 20 | UGI 5 06-01-28債券 | Ugi CORP | 債券 | 1.53% | — | -45.00% | |
| 21 | ARKK | ARK Innovation ETF | ETF-其他 | 1.50% | — | — | |
| 22 | SRPT 1.25 09-15-27債券 | Sarepta Therapeutics Inc | 債券 | 1.42% | -0.57% | -7.50% | |
| 23 | SO 4.5 06-15-27債券 | Southern Co | 債券 | 1.35% | — | -15.20% | |
| 24 | FWONA | Liberty Media Corp-formula-a | 股票-其他 | 1.35% | — | -11.06% | |
| 25 | WEC 4.375 06-01-27債券 | Wec Energy Group Inc | 債券 | 1.30% | — | — | |
| 26 | ITRI 0 03-15-26債券 | Itron Inc | 債券 | 1.25% | — | -39.17% | |
| 27 | HEI-A | Heico Corp-class A | 股票-其他 | 1.20% | — | -43.44% | |
| 28 | SO 3.875 12-15-25債券 | Southern Co | 債券 | 1.18% | — | — | |
| 29 | IRWD 1.5 06-15-26債券 | Ironwood Pharmaceuticals | 債券 | 1.16% | -1.49% | EXIT | |
| 30 | CRNC 1.5 07-01-28債券 | Cerence Inc | 債券 | 1.16% | — | -20.99% | |
| 31 | CABO 0 03-15-26債券 | Cable One Inc | 債券 | 1.13% | — | +81.81% | |
| 32 | GPRE 2.25 03-15-27債券 | Green Plains Inc | 債券 | 1.06% | — | +363.64% | |
| 33 | KEL | Kellanova | 股票-其他 | 1.01% | — | -20.15% | |
| 34 | NBR | Nabors Industries Ltd. | 股票-其他 | 0.88% | — | +26.89% | |
| 35 | NWSA | News CORP - Class A | 股票-通訊服務 | 0.86% | — | -1.32% | |
| 36 | LLYVA* | Liberty Media Corp-liberty-a | 股票-其他 | 0.85% | — | +15.93% | |
| 37 | GLIBK | Liberty Capital Corp-cl C | 股票-其他 | 0.85% | -0.18% | EXIT | |
| 38 | GES 3.75 04-15-28債券 | Guess Inc | 債券 | 0.84% | — | — | |
| 39 | RDFN 0 10-15-25債券 | Redfin CORP | 債券 | 0.82% | — | — | |
| 40 | ARRY 1 12-01-28債券 | Array Technologies Inc | 債券 | 0.80% | — | +30.83% | |
| 41 | VIAV 1.625 03-15-26債券 | Viavi Solutions Inc | 債券 | 0.79% | — | -46.15% | |
| 42 | ✓ | 股票-其他 | 0.77% | — | — | ||
| 43 | KPTI 6 05-13-29 *債券 | Karyopharm Therapeutics | 債券 | 0.77% | — | — | |
| 44 | EB 0.75 09-15-26債券 | Eventbrite Inc | 債券 | 0.77% | — | +836.10% | |
| 45 | ✓ | Cyberark Software LTD. Cmn | 股票-其他 | 0.73% | — | +136.33% | |
| 46 | PPLI | People Inc | 股票-通訊服務 | 0.72% | -0.71% | +68.91% | |
| 47 | BATRK | Atlanta Braves Holdings In-c | 股票-其他 | 0.71% | -0.42% | EXIT | |
| 48 | EAF | GrafTech International Ltd. | 股票-其他 | 0.69% | -0.53% | EXIT | |
| 49 | PCG 4.25 12-01-27債券 | Pg&e CORP | 債券 | 0.66% | +1.38% | NEW | |
| 50 | ✓ | M3-brigade Acquisition Vi Co | 股票-其他 | 0.65% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | DBX 0 03-01-28債券 | Dropbox Inc | +1% | — | 加碼 |
| 2 | NIO 3.875 10-15-29債券 | Nio Inc | +0.8% | +8.11% | 加碼 |
| 3 | F 0 03-15-26債券 | Ford Motor Company | +0.7% | -3.45% | 加碼 |
| 4 | EVRG 4.5 12-15-27債券 | Evergy Inc | +0.6% | +150.00% | 加碼 |
| 5 | FOUR 0 12-15-25債券 | Shift4 Payments Inc | +0.4% | — | 加碼 |
| 6 | GPRE 2.25 03-15-27債券 | Green Plains Inc | +0.4% | +363.64% | 加碼 |
| 7 | LLYVA* | Liberty Media Corp-liberty-a | +0.4% | +15.93% | 加碼 |
| 8 | NIO | NIO Inc. | +0.4% | +908.40% | 加碼 |
| 9 | FWONA | Liberty Media Corp-formula-a | +0.4% | -11.06% | 加碼 |
| 10 | BATRK | Atlanta Braves Holdings In-c | +0.3% | +34.87% | 加碼 |
| 11 | GES 3.75 04-15-28債券 | Guess Inc | +0.3% | — | 加碼 |
| 12 | PPLI | People Inc | +0.3% | +68.91% | 加碼 |
| 13 | HEI-A | Heico Corp-class A | +0.3% | -43.44% | 加碼 |
| 14 | DBX 0 03-01-26債券 | Dropbox Inc | +0.3% | — | 加碼 |
| 15 | CORZW | Core Scientific Inc - 27 | +0.2% | -21.52% | 減碼 |
| 16 | REAL 4 02-15-31債券 | THE Realreal Inc | +0.1% | -46.72% | 減碼 |
| 17 | SPOT 0 03-15-26債券 | Spotify USA Inc | +0.1% | -6.98% | 減碼 |
| 18 | AISPW | Airship Ai Holdings Inc-cw28 | +0.1% | -15.06% | 加碼 |
| 19 | EAF | GrafTech International Ltd. | +0.1% | — | 不變 |
| 20 | AMPX-WS | Amprius Technologies Inc | +0.1% | -73.77% | 減碼 |
| 21 | BOX 0 01-15-26債券 | Box Inc | +0.1% | — | 不變 |
| 22 | CRNC 1.5 07-01-28債券 | Cerence Inc | 0% | -20.99% | 減碼 |
| 23 | ✓ | 0% | +21.38% | 加碼 | |
| 24 | FYBR | Frontier Communications Pare | 0% | +5.22% | 減碼 |
| 25 | ESPR | Esperion Therapeutics Inc | 0% | — | 不變 |
| 26 | ✓ | Eqv Ventures Acquisition Cor | 0% | +309.00% | 加碼 |
| 27 | VGASW | Cenaq Energy CORP Cl A -cw27 | — | -3.96% | 減碼 |
| 28 | SRPT 1.25 09-15-27債券 | Sarepta Therapeutics Inc | 0% | -7.50% | 減碼 |
| 29 | KEL | Kellanova | 0% | -20.15% | 減碼 |
| 30 | ✓ | 0% | — | 減碼 | |
| 31 | ✓ | Ads Tec Energy PLC | 0% | -55.76% | 減碼 |
| 32 | ✓ | Bitfufu Inc | 0% | -15.74% | 減碼 |
| 33 | ✓ | Waldencast PLC | 0% | -66.94% | 減碼 |
| 34 | ✓ | 0% | -1.21% | 加碼 | |
| 35 | ✓ | Renew Energy Global PLC | 0% | -16.38% | 減碼 |
| 36 | PSQH-WS | Colombier Acq Cl A -cw28 | 0% | -47.66% | 減碼 |
| 37 | ✓ | Forafric Global PLC | 0% | -27.87% | 減碼 |
| 38 | ANNAW | Aleanna Inc - Cl A - 29 | 0% | -66.90% | 減碼 |
| 39 | LOTWW | Lotus Technology Inc-28 | 0% | -7.52% | 減碼 |
| 40 | ✓ | Baird Med Invt Hldgs LTD | 0% | — | 不變 |
| 41 | CENTA | Central Garden And Pet Co-a | 0% | -5.35% | 減碼 |
| 42 | SM | Sm Energy Co | -0.1% | — | 減碼 |
| 43 | LAZR 9 01-15-30債券 | Luminar Technologies Inc | -0.1% | — | 減碼 |
| 44 | CNNE | Cannae Holdings Inc | -0.1% | +12.27% | 減碼 |
| 45 | NOTV 3.25 10-15-27債券 | Inotiv Inc | -0.1% | -0.88% | 減碼 |
| 46 | NBR | Nabors Industries Ltd. | -0.2% | +26.89% | 減碼 |
| 47 | ITRI 0 03-15-26債券 | Itron Inc | -0.2% | -39.17% | 減碼 |
| 48 | BSY 0.125 01-15-26債券 | Bentley Systems Inc | -0.2% | -24.79% | 減碼 |
| 49 | GOSS 5 06-01-27債券 | Gossamer Bio Inc | -0.3% | -41.18% | 減碼 |
| 50 | UBER 0 12-15-25債券 | Uber Technologies Inc | -0.4% | — | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Highbridge Capital Management LLC 在 Q3 2025 季度的美股持倉總市值約為 US$41.1億，共申報了 307 個公開持股部位。
在 Q3 2025 季度，Highbridge Capital Management LLC 按市值排列的前三大核心持股分別為：Invesco QQQ Tr Put Option 06/2 (6.5%)、F 0 03-15-26 (6.2%)、BABA 0.5 06-01-31 (5.6%)。其中最大持股部位 Invesco QQQ Tr Put Option 06/2 佔據整體投資組合約 6.5% 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
Invesco QQQ Tr Put Option 06/2
市值: US$1.5億
本季最大獲利了結 / 清倉標的
ISHARES TR
前期市值: US$2.0億
在 Q3 2025 季度中，Highbridge Capital Management LLC 共進行了 196 項持倉異動，包含新建倉 86 個部位、加碼 18 個部位、減碼 35 個部位以及清倉 57 個部位。 其中最大新建倉標的為 Invesco QQQ Tr Put Option 06/2。 本季清倉部位包含 ISHARES TR。
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。