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: 0001442573
申報總市值
US$5.1億
US$5.1億
106 檔
11.0%
根據最新整理的 13F 季度數據集，Hourglass Capital, LLC 於 Q2 2025 結束時的管理資產規模為 US$5.1億。該機構在本季度申報了 106 檔美股持倉，呈現出該時期的主要投資地圖。
Q2 2025 的申報記錄反映 Hourglass Capital, LLC 的板塊替換策略：機構本季推動了 26 筆增持與 21 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 GS, CSCO, ORCL）占據了總市值的 11.0%，展現出該機構在 Q2 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 | GS | Goldman Sachs Group Inc | 股票-金融 | 3.02% | +0.29% | -1.71% | |
| 2 | CSCO | Cisco Systems Inc | 股票-科技 | 2.76% | +0.56% | +7.58% | |
| 3 | ORCL | Oracle CORP | 股票-科技 | 2.73% | +0.04% | -1.89% | |
| 4 | NEM | Newmont CORP | 股票-原物料 | 2.68% | -0.42% | -12.76% | |
| 5 | LYB | LyondellBasell Industries N.V. | 股票-原物料 | 2.64% | -0.77% | +68.93% | |
| 6 | PFE | Pfizer Inc | 股票-醫療保健 | 2.62% | -0.34% | +8.96% | |
| 7 | C | Citigroup Inc | 股票-金融 | 2.59% | +0.37% | -0.88% | |
| 8 | MS | Morgan Stanley | 股票-金融 | 2.53% | +0.41% | -1.62% | |
| 9 | PM | Philip Morris International | 股票-非循環性消費 | 2.44% | +0.03% | -19.72% | |
| 10 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.24% | +0.45% | +25.66% | |
| 11 | KMI | Kinder Morgan, Inc. | 股票-能源 | 2.13% | -0.17% | -2.59% | |
| 12 | SLB | Slb LTD | 股票-能源 | 1.95% | -0.30% | -5.11% | |
| 13 | WMB | Williams Cos Inc | 股票-能源 | 1.92% | -0.07% | +1.26% | |
| 14 | HCA | Hca Healthcare Inc | 股票-醫療保健 | 1.89% | -0.36% | -5.69% | |
| 15 | WMT | Walmart Inc | 股票-非循環性消費 | 1.84% | -0.27% | -1.74% | |
| 16 | HD | Home Depot Inc | 股票-循環性消費 | 1.81% | -0.06% | +30.21% | |
| 17 | MAIN | Main Street Capital CORP | 股票-金融 | 1.81% | -0.12% | +2.53% | |
| 18 | IBM | Intl Business Machines CORP | 股票-科技 | 1.81% | +0.12% | +4.45% | |
| 19 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 1.67% | -0.28% | -4.80% | |
| 20 | MSFT | Microsoft CORP | 股票-科技 | 1.66% | -0.09% | -4.43% | |
| 21 | NVDA | Nvidia CORP | 股票-科技 | 1.61% | +0.18% | +15.09% | |
| 22 | CNR | Core Natural Resources Inc | 股票-能源 | 1.57% | -0.25% | +4.52% | |
| 23 | CVX | Chevron CORP | 股票-能源 | 1.55% | -0.43% | +0.65% | |
| 24 | NRG | Nrg Energy Inc | 股票-公用事業 | 1.54% | — | -39.44% | |
| 25 | FHI | Federated Hermes Inc | 股票-金融 | 1.53% | -0.02% | -25.76% | |
| 26 | XOM | Exxon Mobil CORP | 股票-能源 | 1.45% | -0.48% | +1.07% | |
| 27 | T | At&t Inc | 股票-通訊服務 | 1.44% | -0.43% | +3.19% | |
| 28 | AVGO | Broadcom Inc | 股票-科技 | 1.43% | +0.16% | +3.21% | |
| 29 | AAPL | Apple Inc | 股票-科技 | 1.43% | +0.10% | -18.59% | |
| 30 | KEX | Kirby CORP | 股票-工業 | 1.43% | -0.07% | +8.06% | |
| 31 | BKR | Baker Hughes Co | 股票-能源 | 1.43% | -0.10% | -1.62% | |
| 32 | LAMR | Lamar Advertising Co-a | 股票-房地產 | 1.43% | +0.18% | +64.15% | |
| 33 | ZBH | Zimmer Biomet Holdings Inc | 股票-醫療保健 | 1.42% | -0.25% | -6.67% | |
| 34 | VICI | Vici Properties Inc | 股票-房地產 | 1.42% | -0.10% | -1.14% | |
| 35 | DAL | Delta Air Lines Inc | 股票-工業 | 1.41% | -0.21% | +9.71% | |
| 36 | ABBV | Abbvie Inc | 股票-醫療保健 | 1.38% | +0.09% | -8.82% | |
| 37 | SJM | Jm Smucker Co/the | 股票-非循環性消費 | 1.24% | +0.13% | +7.13% | |
| 38 | GSK | Gsk Plc-spon Adr | 股票-醫療保健 | 1.24% | -0.17% | +10.51% | |
| 39 | WDS | Woodside Energy Group-adr | 股票-其他 | 1.19% | -0.37% | +15.07% | |
| 40 | VLO | Valero Energy CORP | 股票-能源 | 1.14% | — | — | |
| 41 | MCK | Mckesson CORP | 股票-醫療保健 | 1.11% | — | — | |
| 42 | KHC | Kraft Heinz Co/the | 股票-非循環性消費 | 1.07% | +0.09% | +3.25% | |
| 43 | RF | Regions Financial CORP | 股票-金融 | 1.06% | +0.09% | +12.61% | |
| 44 | QCOM | Qualcomm Inc | 股票-科技 | 1.03% | +0.19% | +2.40% | |
| 45 | BHP | Bhp Group Ltd-spon Adr | 股票-原物料 | 1.02% | +0.12% | +3.62% | |
| 46 | VLY | Valley National Bancorp | 股票-金融 | 1.02% | +0.16% | +3.65% | |
| 47 | GM | General Motors Co | 股票-循環性消費 | 1.01% | — | — | |
| 48 | UPS | United Parcel Service-cl B | 股票-工業 | 0.97% | +0.16% | +14.37% | |
| 49 | HPQ | Hp Inc | 股票-科技 | 0.93% | +0.08% | +5.32% | |
| 50 | IRM | Iron Mountain Inc | 股票-房地產 | 0.86% | +0.16% | +1.98% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ORCL | Oracle CORP | +0.9% | -1.89% | 減碼 |
| 2 | LYB | LyondellBasell Industries N.V. | +0.6% | +68.93% | 加碼 |
| 3 | NVDA | Nvidia CORP | +0.6% | +15.09% | 加碼 |
| 4 | GOOGL | Alphabet Inc-cl A | +0.6% | +25.66% | 加碼 |
| 5 | LAMR | Lamar Advertising Co-a | +0.6% | +64.15% | 加碼 |
| 6 | BIIB | Biogen Inc | +0.6% | NEW | 新建倉 |
| 7 | MAN | Manpowergroup Inc | +0.6% | NEW | 新建倉 |
| 8 | AVGO | Broadcom Inc | +0.5% | +3.21% | 加碼 |
| 9 | GS | Goldman Sachs Group Inc | +0.5% | -1.71% | 減碼 |
| 10 | CSCO | Cisco Systems Inc | +0.3% | +7.58% | 加碼 |
| 11 | HD | Home Depot Inc | +0.3% | +30.21% | 加碼 |
| 12 | C | Citigroup Inc | +0.3% | -0.88% | 減碼 |
| 13 | MSFT | Microsoft CORP | +0.3% | -4.43% | 減碼 |
| 14 | MS | Morgan Stanley | +0.3% | -1.62% | 減碼 |
| 15 | IBM | Intl Business Machines CORP | +0.3% | +4.45% | 加碼 |
| 16 | DAL | Delta Air Lines Inc | +0.2% | +9.71% | 加碼 |
| 17 | KEX | Kirby CORP | +0.2% | +8.06% | 加碼 |
| 18 | WDS | Woodside Energy Group-adr | +0.2% | +15.07% | 加碼 |
| 19 | HPE | Hewlett Packard Enterprise | +0.2% | — | 不變 |
| 20 | RF | Regions Financial CORP | +0.1% | +12.61% | 加碼 |
| 21 | FSLR | First Solar Inc | +0.1% | +20.13% | 加碼 |
| 22 | IRM | Iron Mountain Inc | +0.1% | +1.98% | 加碼 |
| 23 | OI | O-i Glass Inc | +0.1% | — | 不變 |
| 24 | VTI | Vanguard Total Stock Mkt ETF | +0.1% | +18.78% | 加碼 |
| 25 | WMT | Walmart Inc | +0.1% | -1.74% | 減碼 |
| 26 | FCX | Freeport-mcmoran Inc | +0.1% | -4.80% | 減碼 |
| 27 | GSK | Gsk Plc-spon Adr | 0% | +10.51% | 加碼 |
| 28 | MAIN | Main Street Capital CORP | 0% | +2.53% | 加碼 |
| 29 | MCK | Mckesson CORP | 0% | — | 不變 |
| 30 | WMB | Williams Cos Inc | 0% | +1.26% | 加碼 |
| 31 | NEM | Newmont CORP | 0% | -12.76% | 減碼 |
| 32 | PFE | Pfizer Inc | 0% | +8.96% | 加碼 |
| 33 | ARLP | Alliance Resource Partners | -0.1% | EXIT | 清倉 |
| 34 | BRK-B | Berkshire Hathaway Inc-cl B | -0.2% | -1.65% | 減碼 |
| 35 | CTRA | Coterra Energy Inc | -0.2% | EXIT | 清倉 |
| 36 | CNR | Core Natural Resources Inc | -0.2% | +4.52% | 加碼 |
| 37 | EXP | Eagle Materials Inc | -0.2% | EXIT | 清倉 |
| 38 | KHC | Kraft Heinz Co/the | -0.2% | +3.25% | 加碼 |
| 39 | XOM | Exxon Mobil CORP | -0.2% | +1.07% | 加碼 |
| 40 | SJM | Jm Smucker Co/the | -0.2% | +7.13% | 加碼 |
| 41 | BKR | Baker Hughes Co | -0.3% | -1.62% | 減碼 |
| 42 | CVX | Chevron CORP | -0.4% | +0.65% | 加碼 |
| 43 | PM | Philip Morris International | -0.4% | -19.72% | 減碼 |
| 44 | ABBV | Abbvie Inc | -0.4% | -8.82% | 減碼 |
| 45 | FHI | Federated Hermes Inc | -0.5% | -25.76% | 減碼 |
| 46 | AAPL | Apple Inc | -0.6% | -18.59% | 減碼 |
| 47 | ZBH | Zimmer Biomet Holdings Inc | -0.6% | -6.67% | 減碼 |
| 48 | SLB | Slb LTD | -0.7% | -5.11% | 減碼 |
| 49 | SYY | Sysco CORP | -1% | -69.38% | 減碼 |
| 50 | DOW | Dow Inc | -1.1% | -74.84% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Hourglass Capital, LLC 在 Q2 2025 季度的美股持倉總市值約為 US$5.1億，共申報了 106 個公開持股部位。
在 Q2 2025 季度，Hourglass Capital, LLC 按市值排列的前三大核心持股分別為：GS (3.0%)、CSCO (2.8%)、ORCL (2.7%)。其中最大持股部位 GS 佔據整體投資組合約 3.0% 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
BIIB
市值: US$225.7萬
本季最大獲利了結 / 清倉標的
EXP
前期市值: US$79.9萬
在 Q2 2025 季度中，Hourglass Capital, LLC 共進行了 47 項持倉異動，包含新建倉 2 個部位、加碼 24 個部位、減碼 18 個部位以及清倉 3 個部位。 其中最大新建倉標的為 BIIB。 本季清倉部位包含 EXP。
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。