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: 0001783139
申報總市值
US$3.9億
US$3.9億
51 檔
111.6%
在 Q2 2025 申報期間，III Capital Management（CIK: 0001783139）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$3.9億，共持有 51 個公開申報部位。
在 Q2 2025 期間，III Capital Management 展現了靈活的資產再平衡步調，透過出清 8 檔弱勢或達到目標價部位，將資金轉置於 17 檔新建倉標的之中。
在資產配置集中度方面，III Capital Management 的前 5 大核心持股（包含 SPY, VCSH, INVA 2.5 08-15-25 等）合計佔整體申報市值的 111.6%，反映機構在主要關鍵部位上的權重分佈。
| # | 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 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 36.46% | +21.02% | — | |
| 2 | VCSH | Vanguard S/t CORP Bond ETF | ETF-投資等級公司債 | 30.79% | — | — | |
| 3 | INVA 2.5 08-15-25債券 | Innoviva Inc | 債券 | 4.70% | — | -24.46% | |
| 4 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投資等級債 | 3.60% | +6.25% | NEW | |
| 5 | SO 4.5 06-15-27債券 | Southern Co | 債券 | 3.25% | — | — | |
| 6 | RSP | Invesco S&p 500 Equal Weight | ETF-大型股與成長 | 1.63% | +2.16% | NEW | |
| 7 | WEC 4.375 06-01-29債券 | Wec Energy Group Inc | 債券 | 1.03% | — | — | |
| 8 | WDC | Western Digital CORP | 股票-科技 | 0.95% | +0.18% | -27.15% | |
| 9 | HRI | Herc Holdings Inc | 股票-其他 | 0.94% | +0.31% | +8.40% | |
| 10 | CRH | CRH plc | 股票-原物料 | 0.91% | +0.04% | +109.29% | |
| 11 | FUN | Six Flags Entertainment CORP | 股票-其他 | 0.87% | — | +32.91% | |
| 12 | H | Hyatt Hotels CORP - Cl A | 股票-循環性消費 | 0.86% | -0.09% | +97.14% | |
| 13 | OUT | Outfront Media Inc | 股票-其他 | 0.85% | — | +28.88% | |
| 14 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | 債券 | 0.82% | — | -28.19% | |
| 15 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.79% | -0.09% | -14.29% | |
| 16 | BWA | Borgwarner Inc | 股票-循環性消費 | 0.79% | — | -5.71% | |
| 17 | DRVN | Driven Brands Holdings Inc | 股票-其他 | 0.79% | +0.12% | — | |
| 18 | ACI | Albertsons Cos Inc - Class A | 股票-非循環性消費 | 0.79% | -0.39% | EXIT | |
| 19 | URBN | Urban Outfitters Inc | 股票-循環性消費 | 0.72% | -0.32% | +37.50% | |
| 20 | DLTR | Dollar Tree Inc | 股票-非循環性消費 | 0.71% | -0.48% | EXIT | |
| 21 | CHTR | Charter Communications Inc-a | 股票-通訊服務 | 0.62% | -0.52% | -37.04% | |
| 22 | CZR | Caesars Entertainment Inc | 股票-循環性消費 | 0.51% | -0.38% | EXIT | |
| 23 | RTO | Rentokil Initial Plc-sp Adr | 股票-其他 | 0.48% | -0.16% | -28.66% | |
| 24 | UBER | Uber Technologies Inc | 股票-工業 | 0.43% | +0.08% | -14.48% | |
| 25 | CCIVGBP | Lucid Group Inc | 股票-其他 | 0.43% | — | -55.68% | |
| 26 | WYNN | Wynn Resorts LTD | 股票-循環性消費 | 0.42% | +0.73% | -16.67% | |
| 27 | WSM | Williams-sonoma Inc | 股票-循環性消費 | 0.38% | — | — | |
| 28 | KHC | Kraft Heinz Co/the | 股票-非循環性消費 | 0.36% | — | +141.38% | |
| 29 | VZ | Verizon Communications Inc | 股票-通訊服務 | 0.35% | — | — | |
| 30 | TPR | Tapestry Inc | 股票-循環性消費 | 0.33% | — | -22.22% | |
| 31 | CAR | Avis Budget Group Inc | 股票-其他 | 0.32% | -0.08% | EXIT | |
| 32 | NCLH | Norwegian Cruise Line Holdings Ltd. | 股票-循環性消費 | 0.31% | -0.23% | EXIT | |
| 33 | RL | Ralph Lauren CORP | 股票-循環性消費 | 0.30% | -0.53% | — | |
| 34 | MHK | Mohawk Industries Inc | 股票-循環性消費 | 0.28% | -0.10% | — | |
| 35 | XLP | Ss Consumer Staples Sel Sect | ETF-其他 | 0.28% | -1.09% | EXIT | |
| 36 | NXST | Nexstar Media Group Inc | 股票-通訊服務 | 0.28% | +0.70% | NEW | |
| 37 | BYND 0 03-15-27債券 | Beyond Meat Inc | 債券 | 0.26% | — | -10.95% | |
| 38 | BYD | Boyd Gaming CORP | 股票-循環性消費 | 0.21% | +0.10% | — | |
| 39 | PCG | P G & E CORP | 股票-公用事業 | 0.20% | — | -71.83% | |
| 40 | T | At&t Inc | 股票-通訊服務 | 0.16% | — | — | |
| 41 | EXPE | Expedia Group Inc | 股票-循環性消費 | 0.15% | +0.13% | NEW | |
| 42 | APP | Applovin Corp-class A | 股票-科技 | 0.13% | — | — | |
| 43 | CABO | Cable One Inc | 股票-通訊服務 | 0.10% | — | — | |
| 44 | GDEN | Golden Entertainment Inc | 股票-其他 | 0.09% | — | — | |
| 45 | FLYYQ | Spirit Aviation Holdings Inc | 股票-其他 | 0.09% | — | — | |
| 46 | VSTS | Vestis CORP | 股票-其他 | 0.08% | — | -80.24% | |
| 47 | XLF | Ss Financial Select Sector | ETF-其他 | 0.08% | — | — | |
| 48 | XLU | St Sr Utl Sl Se Spdr Etf-usd | ETF-其他 | 0.06% | -0.01% | EXIT | |
| 49 | MSTR | Strategy Inc | 股票-科技 | 0.04% | — | — | |
| 50 | BYND | Beyond Meat Inc | 股票-非循環性消費 | 0.02% | — | -9.97% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +36.5% | NEW | 新建倉 |
| 2 | VCSH | Vanguard S/t CORP Bond ETF | +30.8% | NEW | 新建倉 |
| 3 | SO 4.5 06-15-27債券 | Southern Co | +3.3% | NEW | 新建倉 |
| 4 | RSP | Invesco S&p 500 Equal Weight | +1.6% | NEW | 新建倉 |
| 5 | WEC 4.375 06-01-29債券 | Wec Energy Group Inc | +1% | NEW | 新建倉 |
| 6 | DLTR | Dollar Tree Inc | +0.5% | +166.67% | 加碼 |
| 7 | CRH | CRH plc | +0.5% | +109.29% | 加碼 |
| 8 | H | Hyatt Hotels CORP - Cl A | +0.5% | +97.14% | 加碼 |
| 9 | WSM | Williams-sonoma Inc | +0.4% | NEW | 新建倉 |
| 10 | VZ | Verizon Communications Inc | +0.4% | NEW | 新建倉 |
| 11 | URBN | Urban Outfitters Inc | +0.3% | +37.50% | 加碼 |
| 12 | RL | Ralph Lauren CORP | +0.3% | NEW | 新建倉 |
| 13 | MHK | Mohawk Industries Inc | +0.3% | NEW | 新建倉 |
| 14 | BYD | Boyd Gaming CORP | +0.2% | NEW | 新建倉 |
| 15 | OUT | Outfront Media Inc | +0.2% | +28.88% | 加碼 |
| 16 | KHC | Kraft Heinz Co/the | +0.2% | +141.38% | 加碼 |
| 17 | T | At&t Inc | +0.2% | NEW | 新建倉 |
| 18 | NCLH | Norwegian Cruise Line Holdings Ltd. | +0.2% | +87.72% | 加碼 |
| 19 | CZR | Caesars Entertainment Inc | +0.2% | +25.03% | 加碼 |
| 20 | APP | Applovin Corp-class A | +0.1% | NEW | 新建倉 |
| 21 | WDC | Western Digital CORP | +0.1% | -27.15% | 減碼 |
| 22 | FUN | Six Flags Entertainment CORP | +0.1% | +32.91% | 加碼 |
| 23 | CABO | Cable One Inc | +0.1% | NEW | 新建倉 |
| 24 | FLYYQ | Spirit Aviation Holdings Inc | +0.1% | NEW | 新建倉 |
| 25 | XLF | Ss Financial Select Sector | +0.1% | NEW | 新建倉 |
| 26 | BWA | Borgwarner Inc | +0.1% | -5.71% | 減碼 |
| 27 | META | Meta Platforms Inc-class A | +0.1% | -14.29% | 減碼 |
| 28 | XLU | St Sr Utl Sl Se Spdr Etf-usd | +0.1% | NEW | 新建倉 |
| 29 | ACI | Albertsons Cos Inc - Class A | +0.1% | +10.27% | 加碼 |
| 30 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | +0.1% | -28.19% | 減碼 |
| 31 | HRI | Herc Holdings Inc | 0% | +8.40% | 加碼 |
| 32 | MSTR | Strategy Inc | 0% | NEW | 新建倉 |
| 33 | UBER | Uber Technologies Inc | 0% | -14.48% | 減碼 |
| 34 | DRVN | Driven Brands Holdings Inc | 0% | — | 不變 |
| 35 | BBAI-WS | Bigbear.ai Holdings -cw28 | 0% | -3.06% | 減碼 |
| 36 | GDEN | Golden Entertainment Inc | 0% | — | 不變 |
| 37 | BYND | Beyond Meat Inc | — | -9.97% | 減碼 |
| 38 | TPR | Tapestry Inc | 0% | -22.22% | 減碼 |
| 39 | XLP | Ss Consumer Staples Sel Sect | 0% | — | 不變 |
| 40 | EXPE | Expedia Group Inc | 0% | -16.67% | 減碼 |
| 41 | WYNN | Wynn Resorts LTD | 0% | -16.67% | 減碼 |
| 42 | NXST | Nexstar Media Group Inc | 0% | -10.00% | 減碼 |
| 43 | BKNG | Booking Holdings Inc | -0.1% | EXIT | 清倉 |
| 44 | LZ | Legalzoomcom Inc | -0.1% | EXIT | 清倉 |
| 45 | BYND 0 03-15-27債券 | Beyond Meat Inc | -0.2% | -10.95% | 減碼 |
| 46 | RTO | Rentokil Initial Plc-sp Adr | -0.2% | -28.66% | 減碼 |
| 47 | CCOI | Cogent Communications Holdin | -0.2% | EXIT | 清倉 |
| 48 | CHTR | Charter Communications Inc-a | -0.3% | -37.04% | 減碼 |
| 49 | WBD | Warner Bros Discovery Inc | -0.3% | EXIT | 清倉 |
| 50 | LSEA | Landsea Homes CORP | -0.3% | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，III Capital Management 在 Q2 2025 季度的美股持倉總市值約為 US$3.9億，共申報了 51 個公開持股部位。
在 Q2 2025 季度，III Capital Management 按市值排列的前三大核心持股分別為：SPY (36.5%)、VCSH (30.8%)、INVA 2.5 08-15-25 (4.7%)。其中最大持股部位 SPY 佔據整體投資組合約 36.5% 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
SPY
市值: US$2.0億
本季最大獲利了結 / 清倉標的
BKLN
前期市值: US$9769.6萬
在 Q2 2025 季度中，III Capital Management 共進行了 56 項持倉異動，包含新建倉 17 個部位、加碼 11 個部位、減碼 20 個部位以及清倉 8 個部位。 其中最大新建倉標的為 SPY。 本季清倉部位包含 BKLN。
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。