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
12.4%
在 Q3 2025 申報期間，Hourglass Capital, LLC（CIK: 0001442573）向美國 SEC 提交的 Form 13F 報告顯示，其追蹤之股票投資組合總市值達 US$5.1億，共持有 106 個公開申報部位。
Hourglass Capital, LLC 於 Q3 2025 展現出進攻型調倉步調，本季推動了 5 檔股票的新建倉與 25 檔既有部位加碼，整體資金傾向擴大在美股市場的曝險佈局。
在資產配置集中度方面，Hourglass Capital, LLC 的前 5 大核心持股（包含 NEM, ORCL, GOOGL 等）合計佔整體申報市值的 12.4%，反映機構在主要關鍵部位上的權重分佈。
本季最大新建倉標的
MAN
市值: US$278.9萬
本季最大獲利了結 / 清倉標的
EXP
前期市值: US$79.9萬
| # | 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 | NEM | Newmont CORP | 股票-原物料 | 3.05% | -0.42% | -13.28% | |
| 2 | ORCL | Oracle CORP | 股票-科技 | 2.98% | +0.04% | -6.48% | |
| 3 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.78% | +0.45% | -0.60% | |
| 4 | PFE | Pfizer Inc | 股票-醫療保健 | 2.69% | -0.34% | +7.81% | |
| 5 | C | Citigroup Inc | 股票-金融 | 2.66% | +0.37% | -5.16% | |
| 6 | GS | Goldman Sachs Group Inc | 股票-金融 | 2.58% | +0.29% | -16.60% | |
| 7 | MS | Morgan Stanley | 股票-金融 | 2.54% | +0.41% | -2.23% | |
| 8 | CSCO | Cisco Systems Inc | 股票-科技 | 2.44% | +0.56% | -1.56% | |
| 9 | ABBV | Abbvie Inc | 股票-醫療保健 | 2.23% | +0.09% | +42.99% | |
| 10 | CNR | Core Natural Resources Inc | 股票-能源 | 2.19% | -0.25% | +28.44% | |
| 11 | PM | Philip Morris International | 股票-非循環性消費 | 1.93% | +0.03% | -2.38% | |
| 12 | SLB | Slb LTD | 股票-能源 | 1.85% | -0.30% | +2.63% | |
| 13 | HD | Home Depot Inc | 股票-循環性消費 | 1.82% | -0.06% | +0.05% | |
| 14 | HCA | Hca Healthcare Inc | 股票-醫療保健 | 1.79% | -0.36% | -6.23% | |
| 15 | KMI | Kinder Morgan, Inc. | 股票-能源 | 1.78% | -0.17% | -4.24% | |
| 16 | ZBH | Zimmer Biomet Holdings Inc | 股票-醫療保健 | 1.77% | -0.25% | +27.37% | |
| 17 | WMT | Walmart Inc | 股票-非循環性消費 | 1.75% | -0.27% | -0.41% | |
| 18 | MAIN | Main Street Capital CORP | 股票-金融 | 1.75% | -0.12% | -1.02% | |
| 19 | WMB | Williams Cos Inc | 股票-能源 | 1.74% | -0.07% | -1.05% | |
| 20 | NVDA | Nvidia CORP | 股票-科技 | 1.72% | +0.18% | -0.24% | |
| 21 | BKR | Baker Hughes Co | 股票-能源 | 1.64% | -0.10% | -0.47% | |
| 22 | AAPL | Apple Inc | 股票-科技 | 1.61% | +0.10% | -0.08% | |
| 23 | IBM | Intl Business Machines CORP | 股票-科技 | 1.57% | +0.12% | -0.31% | |
| 24 | MSFT | Microsoft CORP | 股票-科技 | 1.55% | -0.09% | -1.26% | |
| 25 | AVGO | Broadcom Inc | 股票-科技 | 1.54% | +0.16% | -1.19% | |
| 26 | CVX | Chevron CORP | 股票-能源 | 1.51% | -0.43% | -0.71% | |
| 27 | DAL | Delta Air Lines Inc | 股票-工業 | 1.48% | -0.21% | -0.19% | |
| 28 | HPQ | Hp Inc | 股票-科技 | 1.43% | +0.08% | +52.28% | |
| 29 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 1.43% | -0.28% | +4.20% | |
| 30 | NRG | Nrg Energy Inc | 股票-公用事業 | 1.41% | — | +0.15% | |
| 31 | KHC | Kraft Heinz Co/the | 股票-非循環性消費 | 1.39% | +0.09% | +41.70% | |
| 32 | KEX | Kirby CORP | 股票-工業 | 1.38% | -0.07% | +44.68% | |
| 33 | XOM | Exxon Mobil CORP | 股票-能源 | 1.37% | -0.48% | -0.83% | |
| 34 | LYB | LyondellBasell Industries N.V. | 股票-原物料 | 1.35% | -0.77% | -33.43% | |
| 35 | VLO | Valero Energy CORP | 股票-能源 | 1.31% | — | — | |
| 36 | LAMR | Lamar Advertising Co-a | 股票-房地產 | 1.31% | +0.18% | -0.06% | |
| 37 | T | At&t Inc | 股票-通訊服務 | 1.28% | -0.43% | +0.82% | |
| 38 | VICI | Vici Properties Inc | 股票-房地產 | 1.28% | -0.10% | -0.42% | |
| 39 | GSK | Gsk Plc-spon Adr | 股票-醫療保健 | 1.27% | -0.17% | +0.59% | |
| 40 | SJM | Jm Smucker Co/the | 股票-非循環性消費 | 1.25% | +0.13% | +0.49% | |
| 41 | VLY | Valley National Bancorp | 股票-金融 | 1.23% | +0.16% | +11.82% | |
| 42 | GM | General Motors Co | 股票-循環性消費 | 1.14% | — | -0.12% | |
| 43 | RF | Regions Financial CORP | 股票-金融 | 1.08% | +0.09% | +0.05% | |
| 44 | BHP | Bhp Group Ltd-spon Adr | 股票-原物料 | 1.07% | +0.12% | -0.23% | |
| 45 | MCK | Mckesson CORP | 股票-醫療保健 | 1.06% | — | +0.25% | |
| 46 | WDS | Woodside Energy Group-adr | 股票-其他 | 1.06% | -0.37% | +0.64% | |
| 47 | QCOM | Qualcomm Inc | 股票-科技 | 0.97% | +0.19% | -0.40% | |
| 48 | DOW | Dow Inc | 股票-原物料 | 0.86% | -0.22% | +368.60% | |
| 49 | HPE | Hewlett Packard Enterprise | 股票-科技 | 0.81% | — | — | |
| 50 | MMM | 3m Co | 股票-工業 | 0.80% | — | +0.26% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +1.1% | -0.60% | 加碼 |
| 2 | ORCL | Oracle CORP | +1.1% | -6.48% | 減碼 |
| 3 | NVDA | Nvidia CORP | +0.7% | -0.24% | 加碼 |
| 4 | AVGO | Broadcom Inc | +0.7% | -1.19% | 加碼 |
| 5 | LAMR | Lamar Advertising Co-a | +0.5% | -0.06% | 加碼 |
| 6 | CNR | Core Natural Resources Inc | +0.4% | +28.44% | 加碼 |
| 7 | ABBV | Abbvie Inc | +0.4% | +42.99% | 加碼 |
| 8 | HPQ | Hp Inc | +0.4% | +52.28% | 加碼 |
| 9 | NEM | Newmont CORP | +0.4% | -13.28% | 減碼 |
| 10 | C | Citigroup Inc | +0.4% | -5.16% | 減碼 |
| 11 | HD | Home Depot Inc | +0.4% | +0.05% | 加碼 |
| 12 | MS | Morgan Stanley | +0.3% | -2.23% | 減碼 |
| 13 | DAL | Delta Air Lines Inc | +0.3% | -0.19% | 加碼 |
| 14 | HPE | Hewlett Packard Enterprise | +0.2% | — | 不變 |
| 15 | VLY | Valley National Bancorp | +0.2% | +11.82% | 加碼 |
| 16 | FSLR | First Solar Inc | +0.2% | -3.46% | 加碼 |
| 17 | MSFT | Microsoft CORP | +0.2% | -1.26% | 減碼 |
| 18 | RF | Regions Financial CORP | +0.2% | +0.05% | 加碼 |
| 19 | KEX | Kirby CORP | +0.1% | +44.68% | 加碼 |
| 20 | VLO | Valero Energy CORP | +0.1% | — | 不變 |
| 21 | GM | General Motors Co | +0.1% | -0.12% | 減碼 |
| 22 | KHC | Kraft Heinz Co/the | +0.1% | +41.70% | 加碼 |
| 23 | GS | Goldman Sachs Group Inc | +0.1% | -16.60% | 減碼 |
| 24 | GSK | Gsk Plc-spon Adr | +0.1% | +0.59% | 加碼 |
| 25 | CPRI | Capri Holdings Limited | +0.1% | — | 加碼 |
| 26 | WDS | Woodside Energy Group-adr | 0% | +0.64% | 加碼 |
| 27 | PFE | Pfizer Inc | 0% | +7.81% | 加碼 |
| 28 | IBM | Intl Business Machines CORP | 0% | -0.31% | 加碼 |
| 29 | CSCO | Cisco Systems Inc | 0% | -1.56% | 加碼 |
| 30 | BHP | Bhp Group Ltd-spon Adr | 0% | -0.23% | 加碼 |
| 31 | MCK | Mckesson CORP | 0% | +0.25% | 加碼 |
| 32 | WMT | Walmart Inc | 0% | -0.41% | 減碼 |
| 33 | MAIN | Main Street Capital CORP | 0% | -1.02% | 加碼 |
| 34 | HCA | Hca Healthcare Inc | -0.1% | -6.23% | 減碼 |
| 35 | JEPI | Jpmorgan Equity Premium Inco | -0.2% | -28.47% | 減碼 |
| 36 | NVO | Novo-nordisk A/s-spons Adr | -0.3% | -75.36% | 減碼 |
| 37 | DOW | Dow Inc | -0.4% | +368.60% | 加碼 |
| 38 | KMI | Kinder Morgan, Inc. | -0.5% | -4.24% | 減碼 |
| 39 | LYB | LyondellBasell Industries N.V. | -0.7% | -33.43% | 加碼 |
| 40 | SLB | Slb LTD | -0.8% | +2.63% | 減碼 |
| 41 | PM | Philip Morris International | -0.9% | -2.38% | 減碼 |
| 42 | SYY | Sysco CORP | -1% | -0.45% | 減碼 |
| 43 | FHI | Federated Hermes Inc | -1.3% | -54.87% | 減碼 |
| 44 | MAN | Manpowergroup Inc | — | NEW | 新建倉 |
| 45 | CAG | Conagra Brands Inc | — | NEW | 新建倉 |
| 46 | BIIB | Biogen Inc | — | NEW | 新建倉 |
| 47 | FFIN | First Finl Bankshares Inc | — | NEW | 新建倉 |
| 48 | ABT | Abbott Laboratories | — | NEW | 新建倉 |
| 49 | EXP | Eagle Materials Inc | — | EXIT | 清倉 |
| 50 | CTRA | Coterra Energy Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Hourglass Capital, LLC 在 Q3 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 Q3 2025 季度，Hourglass Capital, LLC 按市值排列的前三大核心持股分別為：NEM (3.0%)、ORCL (3.0%)、GOOGL (2.8%)。其中最大持股部位 NEM 佔據整體投資組合約 3.0% 的權重。
在 Q3 2025 季度中，Hourglass Capital, LLC 共進行了 48 項持倉異動，包含新建倉 5 個部位、加碼 25 個部位、減碼 16 個部位以及清倉 2 個部位。 其中最大新建倉標的為 MAN。 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。
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。
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。