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: 0001393825
申報總市值
US$368.3億
US$368.3億
1030 檔
23.4%
Q3 2025 季度申報顯示，Hudson Bay Capital Management LP 揭露的美股組合總市值為 US$368.3億，涵蓋 1030 個不同之權益投資部位。
在 Q3 2025，Hudson Bay Capital Management LP 展現出較為審慎的避險與獲利了結姿態。本季共減碼 81 個部位並完全清倉 41 檔持股，調降曝險的部位數量高於加碼動作。
整體而言，Hudson Bay Capital Management LP 的前 5 大持股（包含 NVDA, TSLA, AMZN）貢獻了組合市值的 23.4%，形成該機構在 Q3 2025 季度的基本面基石。
僅顯示前 200 大持股（共 1030 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 | NVDA | Nvidia CORP | 股票-科技 | 8.93% | -3.20% | -5.87% | |
| 2 | TSLA | Tesla Inc | 股票-循環性消費 | 6.54% | -0.34% | -26.12% | |
| 3 | AMZN | Amazon.com Inc | 股票-循環性消費 | 6.51% | -0.01% | +41.97% | |
| 4 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 3.52% | -1.00% | -12.51% | |
| 5 | AAPL | Apple Inc | 股票-科技 | 3.17% | -2.38% | +497.76% | |
| 6 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 2.93% | -0.96% | +175.89% | |
| 7 | NFLX | Netflix Inc | 股票-通訊服務 | 2.48% | -2.02% | +36.69% | |
| 8 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 2.18% | -0.14% | -41.57% | |
| 9 | AMD | Advanced Micro Devices | 股票-科技 | 2.07% | +0.86% | -40.86% | |
| 10 | IBIT | Ishares Bitcoin Trust ETF | ETF-加密貨幣 | 1.97% | -0.49% | +99.82% | |
| 11 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投資等級債 | 1.94% | -0.40% | +44.09% | |
| 12 | MSTR | Strategy Inc | 股票-科技 | 1.92% | -0.01% | -24.13% | |
| 13 | HOOD | Robinhood Markets Inc - A | 股票-金融 | 1.87% | -0.04% | -1.22% | |
| 14 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 1.75% | +0.46% | -76.34% | |
| 15 | DLTR | Dollar Tree Inc | 股票-非循環性消費 | 1.39% | -0.09% | -1.60% | |
| 16 | FLG | Flagstar Bank NA | 股票-金融 | 1.33% | -1.19% | — | |
| 17 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 1.25% | +3.47% | +2127.14% | |
| 18 | SMH | Vaneck Semiconductor ETF | ETF-其他 | 1.18% | +0.26% | +325.23% | |
| 19 | SO 3.875 12-15-25債券 | Southern Co | 債券 | 1.05% | — | +59.64% | |
| 20 | CNX 2.25 05-01-26債券 | Cnx Resources CORP | 債券 | 1.02% | — | +4.27% | |
| 21 | DXCM 0.25 11-15-25債券 | Dexcom Inc | 債券 | 0.86% | — | +9.73% | |
| 22 | WDAY | Workday Inc-class A | 股票-科技 | 0.81% | — | — | |
| 23 | DASH | Doordash Inc - A | 股票-循環性消費 | 0.81% | -0.01% | EXIT | |
| 24 | ✓ | Cyberark Software LTD. Cmn | 股票-其他 | 0.77% | — | — | |
| 25 | PCG 4.25 12-01-27債券 | Pg&e CORP | 債券 | 0.69% | -0.19% | +11.54% | |
| 26 | TMUS | T-mobile US Inc | 股票-通訊服務 | 0.69% | -0.02% | +1208.73% | |
| 27 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.66% | +0.34% | -45.24% | |
| 28 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.62% | +0.08% | -52.85% | |
| 29 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.62% | — | +1070.15% | |
| 30 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | 債券 | 0.58% | -0.34% | +137.50% | |
| 31 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.58% | +1.08% | +215.63% | |
| 32 | ECHO 3.875 11-30-30債券 | Echostar CORP | 債券 | 0.58% | -0.23% | +239.44% | |
| 33 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.57% | -0.46% | -25.66% | |
| 34 | EA | Electronic Arts Inc | 股票-通訊服務 | 0.57% | -0.47% | +2376.91% | |
| 35 | BA | Boeing Co/the | 股票-工業 | 0.54% | +0.23% | +9.55% | |
| 36 | BP | Bp Plc-spons Adr | 股票-能源 | 0.52% | — | -6.42% | |
| 37 | RIG 4.625 09-30-29 *債券 | Transocean Interntnl LTD | 債券 | 0.47% | -0.42% | -1.93% | |
| 38 | SLB | Slb LTD | 股票-能源 | 0.46% | — | +1056.36% | |
| 39 | KEL | Kellanova | 股票-其他 | 0.46% | — | +413.83% | |
| 40 | ABNB | Airbnb Inc-class A | 股票-循環性消費 | 0.45% | +0.01% | -0.54% | |
| 41 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.43% | +2.30% | -66.21% | |
| 42 | IDCC 3.5 06-01-27債券 | Interdigital Inc | 債券 | 0.41% | — | — | |
| 43 | COIN | Coinbase Global Inc -class A | 股票-金融 | 0.40% | -0.42% | +10.69% | |
| 44 | UNIT 7.5 12-01-27債券 | Uniti Group Inc | 債券 | 0.39% | -0.09% | — | |
| 45 | CDNS | Cadence Design Sys Inc | 股票-科技 | 0.35% | — | +6029.94% | |
| 46 | ANET | Arista Networks Inc | 股票-科技 | 0.34% | -0.04% | -2.18% | |
| 47 | FLUT | Flutter Entertainment plc | 股票-循環性消費 | 0.33% | -0.01% | +6.25% | |
| 48 | CRWD | Crowdstrike Holdings Inc - A | 股票-科技 | 0.33% | — | -9.62% | |
| 49 | XOM | Exxon Mobil CORP | 股票-能源 | 0.32% | -0.16% | +493.62% | |
| 50 | CUZ | Cousins Properties Inc | 股票-房地產 | 0.32% | — | +20.13% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc | +4.2% | +41.97% | 加碼 |
| 2 | TSLA | Tesla Inc | +2.4% | -26.12% | 減碼 |
| 3 | NFLX | Netflix Inc | +2% | +36.69% | 加碼 |
| 4 | IBIT | Ishares Bitcoin Trust ETF | +1.9% | +99.82% | 加碼 |
| 5 | HOOD | Robinhood Markets Inc - A | +1.4% | -1.22% | 加碼 |
| 6 | NVDA | Nvidia CORP | +1.3% | -5.87% | 減碼 |
| 7 | SMH | Vaneck Semiconductor ETF | +1.1% | +325.23% | 加碼 |
| 8 | WDAY | Workday Inc-class A | +0.7% | — | 加碼 |
| 9 | EA | Electronic Arts Inc | +0.6% | +2376.91% | 加碼 |
| 10 | AAPL | Apple Inc | +0.6% | +497.76% | 減碼 |
| 11 | MSTR | Strategy Inc | +0.5% | -24.13% | 加碼 |
| 12 | TMUS | T-mobile US Inc | +0.5% | +1208.73% | 加碼 |
| 13 | DXCM 0.25 11-15-25債券 | Dexcom Inc | +0.5% | +9.73% | 加碼 |
| 14 | SLB | Slb LTD | +0.4% | +1056.36% | 加碼 |
| 15 | ABNB | Airbnb Inc-class A | +0.4% | -0.54% | 加碼 |
| 16 | DLTR | Dollar Tree Inc | +0.3% | -1.60% | 減碼 |
| 17 | ECHO 3.875 11-30-30債券 | Echostar CORP | +0.3% | +239.44% | 減碼 |
| 18 | PCG 4.25 12-01-27債券 | Pg&e CORP | +0.3% | +11.54% | 加碼 |
| 19 | PLTR | Palantir Technologies Inc-a | +0.3% | -52.85% | 減碼 |
| 20 | SO 3.875 12-15-25債券 | Southern Co | +0.3% | +59.64% | 加碼 |
| 21 | ANET | Arista Networks Inc | +0.3% | -2.18% | 加碼 |
| 22 | CART | Maplebear Inc | +0.2% | +125.62% | 加碼 |
| 23 | DASH | Doordash Inc - A | +0.2% | +11.50% | 減碼 |
| 24 | COST | Costco Wholesale CORP | +0.2% | +1070.15% | 加碼 |
| 25 | ECHO | Echostar Corp-a | +0.2% | +210.48% | 加碼 |
| 26 | VNO | Vornado Realty Trust | +0.2% | -18.51% | 加碼 |
| 27 | SLG | Sl Green Realty CORP | +0.2% | +51.60% | 加碼 |
| 28 | AZO | Autozone Inc | +0.2% | -17.26% | 加碼 |
| 29 | BSX | Boston Scientific CORP | +0.2% | -15.54% | 加碼 |
| 30 | CRWD | Crowdstrike Holdings Inc - A | +0.2% | -9.62% | 加碼 |
| 31 | IDCC 3.5 06-01-27債券 | Interdigital Inc | +0.2% | — | 減碼 |
| 32 | CRWV | Coreweave Inc-cl A | +0.1% | +161.53% | 加碼 |
| 33 | AAL | American Airlines Group Inc | +0.1% | +3.46% | 加碼 |
| 34 | CUZ | Cousins Properties Inc | +0.1% | +20.13% | 加碼 |
| 35 | UNH | Unitedhealth Group Inc | +0.1% | -25.66% | 加碼 |
| 36 | BRX | Brixmor Property Group Inc | +0.1% | -1.64% | 加碼 |
| 37 | NTST | Netstreit CORP | +0.1% | +35.15% | 加碼 |
| 38 | BTU | Peabody Energy CORP | +0.1% | +29.10% | 加碼 |
| 39 | UAL | United Airlines Holdings Inc | +0.1% | -10.54% | 加碼 |
| 40 | LMT | Lockheed Martin CORP | +0.1% | +550.87% | 加碼 |
| 41 | AZNN | Astrazeneca Plc-spons Adr | +0.1% | +40.51% | 加碼 |
| 42 | NSC | Norfolk Southern CORP | +0.1% | +316.22% | 加碼 |
| 43 | GILD | Gilead Sciences Inc | +0.1% | +131.79% | 加碼 |
| 44 | TEAM | Atlassian Corp-cl A | +0.1% | -2.49% | 加碼 |
| 45 | ROKU | Roku Inc | +0.1% | -13.64% | 加碼 |
| 46 | VISN | Vistance Networks Inc | +0.1% | +142.84% | 加碼 |
| 47 | ETNBGBP | 89bio Inc | +0.1% | +862.34% | 加碼 |
| 48 | SLNOEUR | Soleno Therapeutics Inc | +0.1% | +26.29% | 加碼 |
| 49 | WEC | Wec Energy Group Inc | +0.1% | +192.75% | 加碼 |
| 50 | JPM | Jpmorgan Chase & Co | +0.1% | -48.65% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Hudson Bay Capital Management LP 在 Q3 2025 季度的美股持倉總市值約為 US$368.3億，共申報了 1030 個公開持股部位。
在 Q3 2025 季度，Hudson Bay Capital Management LP 按市值排列的前三大核心持股分別為：NVDA (8.9%)、TSLA (6.5%)、AMZN (6.5%)。其中最大持股部位 NVDA 佔據整體投資組合約 8.9% 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
CYBERARK SOFTWARE LTD. CMN
市值: US$2.3億
本季最大獲利了結 / 清倉標的
TXN
前期市值: US$2.5億
在 Q3 2025 季度中，Hudson Bay Capital Management LP 共進行了 200 項持倉異動，包含新建倉 35 個部位、加碼 43 個部位、減碼 81 個部位以及清倉 41 個部位。 其中最大新建倉標的為 CYBERARK SOFTWARE LTD. CMN。 本季清倉部位包含 TXN。
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。