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: 0002079571
申報總市值
US$3.0億
US$3.0億
181 檔
22.4%
截至 Q4 2025 季度末，Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna 的美股持倉估值約為 US$3.0億，全數申報部位共有 181 檔。
Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna 在 Q4 2025 進行了結構性的板塊輪動與部位換股。在開立 9 個全新部位及加碼 16 檔持股的同時，亦同步清倉 11 檔並減碼 13 檔標的。
整體而言，Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna 的前 5 大持股（包含 NVDA, MSFT, GOOG）貢獻了組合市值的 22.4%，形成該機構在 Q4 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 | NVDA | Nvidia CORP | 股票-科技 | 7.01% | -0.13% | +8.48% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 5.71% | +0.25% | +8.41% | |
| 3 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 5.24% | +0.03% | +20.82% | |
| 4 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.99% | +0.20% | +44.09% | |
| 5 | AAPL | Apple Inc | 股票-科技 | 3.51% | -0.52% | -22.64% | |
| 6 | NOW | Servicenow Inc | 股票-科技 | 2.98% | +0.23% | +535.57% | |
| 7 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.80% | -0.36% | +67.33% | |
| 8 | MA | Mastercard Inc - A | 股票-金融 | 2.49% | -0.31% | -22.02% | |
| 9 | MU | Micron Technology Inc | 股票-科技 | 2.47% | +1.53% | +3.02% | |
| 10 | AMD | Advanced Micro Devices | 股票-科技 | 2.16% | +0.25% | +7.29% | |
| 11 | AVGO | Broadcom Inc | 股票-科技 | 2.11% | +0.02% | +355.98% | |
| 12 | CRM | Salesforce Inc | 股票-科技 | 1.75% | -0.16% | +16.21% | |
| 13 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 1.73% | -0.81% | -31.97% | |
| 14 | CLH | Clean Harbors Inc | 股票-工業 | 1.63% | -0.63% | +4.25% | |
| 15 | ROAD | Construction Partners Inc-a | 股票-工業 | 1.57% | -0.23% | — | |
| 16 | V | Visa Inc-class A Shares | 股票-金融 | 1.26% | +0.24% | -45.67% | |
| 17 | PWR | Quanta Services Inc | 股票-工業 | 1.24% | -0.26% | +1.36% | |
| 18 | MPWR | Monolithic Power Systems Inc | 股票-科技 | 1.19% | -0.59% | +2.10% | |
| 19 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.15% | -0.06% | +67.82% | |
| 20 | MELI | Mercadolibre Inc | 股票-循環性消費 | 1.10% | -0.25% | +1.40% | |
| 21 | KTOS | Kratos Defense & Security | 股票-工業 | 1.10% | -0.26% | -19.68% | |
| 22 | DDOG | Datadog Inc - Class A | 股票-科技 | 1.08% | +0.40% | -3.47% | |
| 23 | RMBS | Rambus Inc | 股票-科技 | 1.04% | -0.17% | — | |
| 24 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 1.02% | -0.40% | +1480.17% | |
| 25 | SYM | Symbotic Inc | 股票-工業 | 1.00% | -0.25% | -43.53% | |
| 26 | NU | Nu Holdings Ltd. | 股票-金融 | 0.98% | -0.39% | +7.08% | |
| 27 | FSS | Federal Signal CORP | 股票-工業 | 0.97% | -0.18% | — | |
| 28 | KRMN | Karman Holdings Inc | 股票-工業 | 0.95% | -0.30% | — | |
| 29 | BNY | Bank Of New York Mellon CORP | 股票-金融 | 0.92% | -0.08% | +19412.15% | |
| 30 | WM | Waste Management Inc | 股票-工業 | 0.92% | -0.25% | +5.46% | |
| 31 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.91% | -0.14% | — | |
| 32 | KVYO | Klaviyo Inc-a | 股票-其他 | 0.87% | -0.21% | +15.39% | |
| 33 | NFLX | Netflix Inc | 股票-通訊服務 | 0.87% | -0.80% | +892.69% | |
| 34 | ✓ | 股票-其他 | 0.80% | -0.05% | +14.04% | ||
| 35 | UBER | Uber Technologies Inc | 股票-工業 | 0.80% | -0.06% | +727.37% | |
| 36 | ✓ | On Holding AG | 股票-其他 | 0.77% | -0.12% | +17.80% | |
| 37 | WCN | Waste Connections Inc | 股票-工業 | 0.72% | -0.03% | -12.11% | |
| 38 | ORCL | Oracle CORP | 股票-科技 | 0.72% | -0.14% | +5.61% | |
| 39 | WAB | Wabtec CORP | 股票-工業 | 0.71% | -0.26% | +1.73% | |
| 40 | MLM | Martin Marietta Materials | 股票-原物料 | 0.70% | -0.13% | -16.84% | |
| 41 | LSCC | Lattice Semiconductor CORP | 股票-科技 | 0.66% | -0.06% | — | |
| 42 | CAT | Caterpillar Inc | 股票-工業 | 0.64% | +0.12% | +0.72% | |
| 43 | RKLB | Rocket Lab CORP | 股票-工業 | 0.63% | +0.44% | — | |
| 44 | ARM | Arm Holdings Plc-adr | 股票-科技 | 0.63% | +0.40% | — | |
| 45 | VMC | Vulcan Materials Co | 股票-原物料 | 0.63% | -0.08% | -34.07% | |
| 46 | CDNS | Cadence Design Sys Inc | 股票-科技 | 0.60% | +0.05% | -21.54% | |
| 47 | WMT | Walmart Inc | 股票-非循環性消費 | 0.60% | -0.20% | +0.35% | |
| 48 | TSLA | Tesla Inc | 股票-循環性消費 | 0.59% | -0.06% | -12.94% | |
| 49 | NTRA | Natera Inc | 股票-醫療保健 | 0.58% | +0.04% | -8.62% | |
| 50 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.57% | -0.14% | +49.48% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | +1.7% | +20.82% | 加碼 |
| 2 | AVGO | Broadcom Inc | +1.6% | +355.98% | 加碼 |
| 3 | AMZN | Amazon.com Inc | +1.2% | +44.09% | 加碼 |
| 4 | MU | Micron Technology Inc | +1% | +3.02% | 加碼 |
| 5 | FCX | Freeport-mcmoran Inc | +1% | +1480.17% | 加碼 |
| 6 | BNY | Bank Of New York Mellon CORP | +0.9% | +19412.15% | 加碼 |
| 7 | META | Meta Platforms Inc-class A | +0.8% | +67.33% | 加碼 |
| 8 | UBER | Uber Technologies Inc | +0.7% | +727.37% | 加碼 |
| 9 | AMD | Advanced Micro Devices | +0.6% | +7.29% | 加碼 |
| 10 | COF | Capital One Financial CORP | +0.5% | +5145.00% | 加碼 |
| 11 | JPM | Jpmorgan Chase & Co | +0.4% | +67.82% | 加碼 |
| 12 | UNP | Union Pacific CORP | +0.4% | +338.54% | 加碼 |
| 13 | CRM | Salesforce Inc | +0.3% | +16.21% | 加碼 |
| 14 | RL | Ralph Lauren CORP | +0.3% | +7706.67% | 加碼 |
| 15 | NVDA | Nvidia CORP | +0.2% | +8.48% | 加碼 |
| 16 | WFC | Wells Fargo & Co | -0.3% | -78.09% | 減碼 |
| 17 | ORCL | Oracle CORP | -0.3% | +5.61% | 加碼 |
| 18 | BAC | Bank Of America CORP | -0.4% | -73.91% | 減碼 |
| 19 | ROAD | Construction Partners Inc-a | -0.4% | — | 不變 |
| 20 | ISRG | Intuitive Surgical Inc | -0.4% | -31.97% | 減碼 |
| 21 | VMC | Vulcan Materials Co | -0.5% | -34.07% | 減碼 |
| 22 | MCK | Mckesson CORP | -0.5% | -58.70% | 減碼 |
| 23 | CP | Canadian Pacific Kansas City | -0.6% | -80.51% | 減碼 |
| 24 | XYZ | Block Inc | -0.7% | -57.33% | 減碼 |
| 25 | KTOS | Kratos Defense & Security | -0.7% | -19.68% | 減碼 |
| 26 | SYM | Symbotic Inc | -0.7% | -43.53% | 減碼 |
| 27 | QCOM | Qualcomm Inc | -0.7% | -99.25% | 減碼 |
| 28 | MA | Mastercard Inc - A | -0.9% | -22.02% | 減碼 |
| 29 | AAPL | Apple Inc | -1% | -22.64% | 減碼 |
| 30 | V | Visa Inc-class A Shares | -1.1% | -45.67% | 減碼 |
| 31 | ✓ | Cyberark Software LTD. Cmn | — | EXIT | 清倉 |
| 32 | KRMN | Karman Holdings Inc | — | NEW | 新建倉 |
| 33 | GS | Goldman Sachs Group Inc | — | NEW | 新建倉 |
| 34 | S | Sentinelone Inc -class A | — | EXIT | 清倉 |
| 35 | PSN | Parsons CORP | — | EXIT | 清倉 |
| 36 | RKLB | Rocket Lab CORP | — | NEW | 新建倉 |
| 37 | VEEV | Veeva Systems Inc-class A | — | EXIT | 清倉 |
| 38 | LITE | Lumentum Holdings Inc | — | NEW | 新建倉 |
| 39 | CME | Cme Group Inc | — | EXIT | 清倉 |
| 40 | GM | General Motors Co | — | NEW | 新建倉 |
| 41 | TSM | Taiwan Semiconductor-sp Adr | — | NEW | 新建倉 |
| 42 | SITE | Siteone Landscape Supply Inc | — | EXIT | 清倉 |
| 43 | CIEN | Ciena CORP | — | NEW | 新建倉 |
| 44 | CFG | Citizens Financial Group | — | NEW | 新建倉 |
| 45 | NVTS | Navitas Semiconductor CORP | — | EXIT | 清倉 |
| 46 | MUSA | Murphy USA Inc | — | EXIT | 清倉 |
| 47 | TTMI | Ttm Technologies | — | NEW | 新建倉 |
| 48 | PTC | Ptc Inc | — | EXIT | 清倉 |
| 49 | FISV | Fiserv Inc | — | EXIT | 清倉 |
| 50 | PCOR | Procore Technologies Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna 在 Q4 2025 季度的美股持倉總市值約為 US$3.0億，共申報了 181 個公開持股部位。
在 Q4 2025 季度，Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna 按市值排列的前三大核心持股分別為：NVDA (7.0%)、MSFT (5.7%)、GOOG (5.2%)。其中最大持股部位 NVDA 佔據整體投資組合約 7.0% 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
KRMN
市值: US$249.7萬
本季最大獲利了結 / 清倉標的
CYBERARK SOFTWARE LTD. CMN
前期市值: US$340.4萬
在 Q4 2025 季度中，Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna 共進行了 49 項持倉異動，包含新建倉 9 個部位、加碼 16 個部位、減碼 13 個部位以及清倉 11 個部位。 其中最大新建倉標的為 KRMN。 本季清倉部位包含 CYBERARK SOFTWARE LTD. CMN。
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。