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
46 檔
79.9%
截至 Q3 2025 季度末，III Capital Management 的美股持倉估值約為 US$3.9億，全數申報部位共有 46 檔。
III Capital Management 在 Q3 2025 進行了結構性的板塊輪動與部位換股。在開立 23 個全新部位及加碼 12 檔持股的同時，亦同步清倉 19 檔並減碼 11 檔標的。
整體而言，III Capital Management 的前 5 大持股（包含 SPY, SO 4.5 06-15-27, IJH）貢獻了組合市值的 79.9%，形成該機構在 Q3 2025 季度的基本面基石。
| # | 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 | 66.58% | +21.02% | +26.31% | |
| 2 | SO 4.5 06-15-27債券 | Southern Co | 債券 | 4.41% | — | — | |
| 3 | IJH | Ishares Core S&p Midcap ETF | ETF-其他 | 1.76% | +2.45% | NEW | |
| 4 | WEC 4.375 06-01-29債券 | Wec Energy Group Inc | 債券 | 1.47% | — | — | |
| 5 | PPLI | People Inc | 股票-通訊服務 | 1.47% | +0.17% | — | |
| 6 | H | Hyatt Hotels CORP - Cl A | 股票-循環性消費 | 1.22% | -0.09% | +3.99% | |
| 7 | WDC | Western Digital CORP | 股票-科技 | 1.20% | +0.18% | -49.68% | |
| 8 | DRVN | Driven Brands Holdings Inc | 股票-其他 | 1.14% | +0.12% | +18.25% | |
| 9 | BWA | Borgwarner Inc | 股票-循環性消費 | 1.12% | — | -19.84% | |
| 10 | T | At&t Inc | 股票-通訊服務 | 1.11% | — | +445.17% | |
| 11 | OUT | Outfront Media Inc | 股票-其他 | 1.04% | — | -18.78% | |
| 12 | CRH | CRH plc | 股票-原物料 | 0.99% | +0.04% | -37.97% | |
| 13 | RTO | Rentokil Initial Plc-sp Adr | 股票-其他 | 0.97% | -0.16% | +42.94% | |
| 14 | URBN | Urban Outfitters Inc | 股票-循環性消費 | 0.97% | -0.32% | +2.82% | |
| 15 | MHK | Mohawk Industries Inc | 股票-循環性消費 | 0.92% | -0.10% | +99.00% | |
| 16 | UBER | Uber Technologies Inc | 股票-工業 | 0.86% | +0.08% | +41.53% | |
| 17 | RL | Ralph Lauren CORP | 股票-循環性消費 | 0.84% | -0.53% | +85.92% | |
| 18 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.83% | — | — | |
| 19 | MAT | Mattel Inc | 股票-循環性消費 | 0.81% | -0.14% | — | |
| 20 | DLTR | Dollar Tree Inc | 股票-非循環性消費 | 0.79% | -0.48% | EXIT | |
| 21 | CHTR | Charter Communications Inc-a | 股票-通訊服務 | 0.79% | -0.52% | +41.18% | |
| 22 | XLP | Ss Consumer Staples Sel Sect | ETF-其他 | 0.68% | -1.09% | EXIT | |
| 23 | CNK | Cinemark Holdings Inc | 股票-其他 | 0.57% | — | — | |
| 24 | KHC | Kraft Heinz Co/the | 股票-非循環性消費 | 0.52% | — | +7.74% | |
| 25 | CZR | Caesars Entertainment Inc | 股票-循環性消費 | 0.51% | -0.38% | EXIT | |
| 26 | ACI | Albertsons Cos Inc - Class A | 股票-非循環性消費 | 0.51% | -0.39% | EXIT | |
| 27 | NXST | Nexstar Media Group Inc | 股票-通訊服務 | 0.46% | +0.70% | NEW | |
| 28 | ECHO | Echostar Corp-a | 股票-通訊服務 | 0.46% | +0.46% | — | |
| 29 | BOX 1.5 09-15-29債券 | Box Inc | 債券 | 0.44% | — | — | |
| 30 | NCLH | Norwegian Cruise Line Holdings Ltd. | 股票-循環性消費 | 0.44% | -0.23% | EXIT | |
| 31 | RRR | Red Rock Resorts Inc-class A | 股票-其他 | 0.43% | -0.67% | EXIT | |
| 32 | CCL1EUR | Carnival CORP LTD | 股票-循環性消費 | 0.42% | -0.55% | EXIT | |
| 33 | LCID | Lucid Group Inc | 股票-循環性消費 | 0.41% | — | — | |
| 34 | FUN | Six Flags Entertainment CORP | 股票-其他 | 0.41% | — | -52.79% | |
| 35 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.35% | -0.09% | -66.67% | |
| 36 | CAR | Avis Budget Group Inc | 股票-其他 | 0.35% | -0.08% | EXIT | |
| 37 | WBD | Warner Bros Discovery Inc | 股票-通訊服務 | 0.28% | — | — | |
| 38 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.28% | — | — | |
| 39 | PINS | Pinterest Inc- Class A | 股票-通訊服務 | 0.27% | — | — | |
| 40 | WH | Wyndham Hotels & Resorts Inc | 股票-循環性消費 | 0.27% | -0.02% | — | |
| 41 | MSTR | Strategy Inc | 股票-科技 | 0.24% | — | +425.42% | |
| 42 | XLU | St Sr Utl Sl Se Spdr Etf-usd | ETF-其他 | 0.16% | -0.01% | EXIT | |
| 43 | GDEN | Golden Entertainment Inc | 股票-其他 | 0.11% | — | +14.25% | |
| 44 | KRE | Ss Spdr S&p Regional Bank | ETF-其他 | 0.08% | — | — | |
| 45 | GLD | Spdr Gold Shares | ETF-避險與商品 | 0.04% | +0.39% | — | |
| 46 | BBAI-WS | Bigbear.ai Holdings -cw28 | 股票-其他 | 0.02% | — | -18.25% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | H | Hyatt Hotels CORP - Cl A | +0.8% | +3.99% | 加碼 |
| 2 | DLTR | Dollar Tree Inc | +0.6% | -12.50% | 加碼 |
| 3 | URBN | Urban Outfitters Inc | +0.6% | +2.82% | 加碼 |
| 4 | CRH | CRH plc | +0.6% | -37.97% | 加碼 |
| 5 | UBER | Uber Technologies Inc | +0.5% | +41.53% | 加碼 |
| 6 | XLP | Ss Consumer Staples Sel Sect | +0.4% | +86.79% | 加碼 |
| 7 | BWA | Borgwarner Inc | +0.4% | -19.84% | 減碼 |
| 8 | OUT | Outfront Media Inc | +0.4% | -18.78% | 加碼 |
| 9 | WDC | Western Digital CORP | +0.4% | -49.68% | 減碼 |
| 10 | DRVN | Driven Brands Holdings Inc | +0.4% | +18.25% | 加碼 |
| 11 | KHC | Kraft Heinz Co/the | +0.3% | +7.74% | 加碼 |
| 12 | RTO | Rentokil Initial Plc-sp Adr | +0.3% | +42.94% | 加碼 |
| 13 | NCLH | Norwegian Cruise Line Holdings Ltd. | +0.3% | -13.86% | 加碼 |
| 14 | CZR | Caesars Entertainment Inc | +0.2% | -20.78% | 減碼 |
| 15 | NXST | Nexstar Media Group Inc | +0.1% | +7.89% | 減碼 |
| 16 | GDEN | Golden Entertainment Inc | 0% | +14.25% | 加碼 |
| 17 | BBAI-WS | Bigbear.ai Holdings -cw28 | 0% | -18.25% | 減碼 |
| 18 | WBD | Warner Bros Discovery Inc | 0% | — | 減碼 |
| 19 | CHTR | Charter Communications Inc-a | -0.1% | +41.18% | 減碼 |
| 20 | ACI | Albertsons Cos Inc - Class A | -0.2% | -41.00% | 減碼 |
| 21 | CAR | Avis Budget Group Inc | -0.3% | -14.29% | 減碼 |
| 22 | FUN | Six Flags Entertainment CORP | -0.4% | -52.79% | 減碼 |
| 23 | META | Meta Platforms Inc-class A | -0.4% | -66.67% | 減碼 |
| 24 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | NEW | 新建倉 |
| 25 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | — | EXIT | 清倉 |
| 26 | BKLN | Invesco Senior Loan ETF | — | EXIT | 清倉 |
| 27 | BKNG 0.75 05-01-25債券 | Booking Holdings Inc | — | EXIT | 清倉 |
| 28 | BSY 0.125 01-15-26債券 | Bentley Systems Inc | — | EXIT | 清倉 |
| 29 | INVA 2.5 08-15-25債券 | Innoviva Inc | — | EXIT | 清倉 |
| 30 | SO 4.5 06-15-27債券 | Southern Co | — | NEW | 新建倉 |
| 31 | IJH | Ishares Core S&p Midcap ETF | — | NEW | 新建倉 |
| 32 | CCIVGBP | Lucid Group Inc | — | EXIT | 清倉 |
| 33 | WEC 4.375 06-01-29債券 | Wec Energy Group Inc | — | NEW | 新建倉 |
| 34 | PPLI | People Inc | — | NEW | 新建倉 |
| 35 | HRI | Herc Holdings Inc | — | EXIT | 清倉 |
| 36 | PCG | P G & E CORP | — | EXIT | 清倉 |
| 37 | T | At&t Inc | — | NEW | 新建倉 |
| 38 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | — | EXIT | 清倉 |
| 39 | VSTS | Vestis CORP | — | EXIT | 清倉 |
| 40 | MHK | Mohawk Industries Inc | — | NEW | 新建倉 |
| 41 | RL | Ralph Lauren CORP | — | NEW | 新建倉 |
| 42 | GOOG | Alphabet Inc-cl C | — | NEW | 新建倉 |
| 43 | MAT | Mattel Inc | — | NEW | 新建倉 |
| 44 | WYNN | Wynn Resorts LTD | — | EXIT | 清倉 |
| 45 | BYND 0 03-15-27債券 | Beyond Meat Inc | — | EXIT | 清倉 |
| 46 | CNK | Cinemark Holdings Inc | — | NEW | 新建倉 |
| 47 | ECHO | Echostar Corp-a | — | NEW | 新建倉 |
| 48 | TPR | Tapestry Inc | — | EXIT | 清倉 |
| 49 | BOX 1.5 09-15-29債券 | Box Inc | — | NEW | 新建倉 |
| 50 | RRR | Red Rock Resorts Inc-class A | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，III Capital Management 在 Q3 2025 季度的美股持倉總市值約為 US$3.9億，共申報了 46 個公開持股部位。
在 Q3 2025 季度，III Capital Management 按市值排列的前三大核心持股分別為：SPY (66.6%)、SO 4.5 06-15-27 (4.4%)、IJH (1.8%)。其中最大持股部位 SPY 佔據整體投資組合約 66.6% 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$2.8億
本季最大獲利了結 / 清倉標的
HYG
前期市值: US$2.2億
在 Q3 2025 季度中，III Capital Management 共進行了 65 項持倉異動，包含新建倉 23 個部位、加碼 12 個部位、減碼 11 個部位以及清倉 19 個部位。 其中最大新建倉標的為 SPY。 本季清倉部位包含 HYG。
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。