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: 0001861026
申報總市值
US$24.6億
US$24.6億
79 檔
25.6%
Marathon Asset Management Ltd 在 Q2 2025 季度的美股部位總計估值為 US$24.6億，分散於 79 個持倉標的之中，反映其市場參與廣度與投資規模。
數據顯示 Marathon Asset Management Ltd 於 Q2 2025 季度持續回收資金，對 62 個既有部位進行裁減並清倉 4 個標的，組合整體流動性比重有所上升。
從部位權重觀察，前 5 大標的（包含 CNH, AMZN, MSFT）累計市值佔比達 25.6%，是驅動 Marathon Asset Management Ltd 該季度整體投資組合績效表現的核心支柱。
| # | 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 | CNH | CNH Industrial N.V. | 股票-工業 | 5.43% | +0.21% | -5.06% | |
| 2 | AMZN | Amazon.com Inc | 股票-循環性消費 | 4.36% | -0.28% | +4.72% | |
| 3 | MSFT | Microsoft CORP | 股票-科技 | 3.67% | -0.38% | -1.29% | |
| 4 | KO | The Coca-Cola Company | 股票-非循環性消費 | 3.51% | +0.36% | -4.05% | |
| 5 | ELV | Elevance Health Inc | 股票-醫療保健 | 3.29% | +0.44% | +9.54% | |
| 6 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 3.22% | -0.33% | -11.55% | |
| 7 | BN | Brookfield CORP | 股票-金融 | 2.92% | -0.08% | -7.60% | |
| 8 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.90% | +0.33% | -1.15% | |
| 9 | FISV | Fiserv Inc | 股票-其他 | 2.89% | -0.30% | +23.20% | |
| 10 | SCCO | Southern Copper CORP | 股票-原物料 | 2.29% | +0.08% | -6.25% | |
| 11 | ORCL | Oracle CORP | 股票-科技 | 2.21% | -0.12% | -1.27% | |
| 12 | BNS | Bank Of Nova Scotia | 股票-金融 | 2.18% | +0.47% | +38.87% | |
| 13 | NVDA | Nvidia CORP | 股票-科技 | 2.14% | -0.11% | -1.40% | |
| 14 | TRU | Transunion | 股票-金融 | 2.10% | +0.37% | +6.09% | |
| 15 | MKL | Markel Group Inc | 股票-金融 | 2.09% | -0.21% | -1.24% | |
| 16 | V | Visa Inc-class A Shares | 股票-金融 | 2.08% | +0.42% | -1.22% | |
| 17 | PAYC | Paycom Software Inc | 股票-科技 | 1.99% | -0.11% | +1.25% | |
| 18 | TME | Tencent Music Entertainm-adr | 股票-通訊服務 | 1.90% | — | -7.23% | |
| 19 | CNQ | Canadian Natural Resources | 股票-能源 | 1.83% | -0.71% | -7.77% | |
| 20 | VIPS | Vipshop Holdings LTD - Adr | 股票-循環性消費 | 1.80% | -0.27% | -10.16% | |
| 21 | MA | Mastercard Inc - A | 股票-金融 | 1.72% | -0.15% | -1.22% | |
| 22 | FNV | Franco-nevada CORP | 股票-原物料 | 1.71% | -0.59% | -7.61% | |
| 23 | MU | Micron Technology Inc | 股票-科技 | 1.69% | +0.76% | -10.48% | |
| 24 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.60% | -0.21% | +78.80% | |
| 25 | CP | Canadian Pacific Kansas City | 股票-工業 | 1.52% | +0.03% | -7.60% | |
| 26 | CPA | Copa Holdings, S.A. | 股票-其他 | 1.42% | +0.77% | -18.34% | |
| 27 | PGR | Progressive CORP | 股票-金融 | 1.42% | -0.10% | -1.40% | |
| 28 | CME | Cme Group Inc | 股票-金融 | 1.41% | -0.51% | -1.40% | |
| 29 | ADSK | Autodesk Inc | 股票-科技 | 1.37% | -0.30% | -1.41% | |
| 30 | CX | Cemex Sab-spons Adr Part Cer | 股票-其他 | 1.35% | +0.10% | -10.39% | |
| 31 | GIL | Gildan Activewear Inc | 股票-循環性消費 | 1.32% | +0.62% | -7.61% | |
| 32 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.32% | — | -1.40% | |
| 33 | IBKR | Interactive Brokers Gro-cl A | 股票-金融 | 1.28% | +0.12% | +294.39% | |
| 34 | HDB | Hdfc Bank Ltd-adr | 股票-金融 | 1.27% | +0.09% | -6.84% | |
| 35 | ATS | Ats CORP | 股票-其他 | 1.26% | -0.06% | — | |
| 36 | LAUR | Laureate Education Inc | 股票-其他 | 1.21% | +0.08% | -10.85% | |
| 37 | ALGN | Align Technology Inc | 股票-醫療保健 | 1.15% | -0.18% | -1.25% | |
| 38 | OPLN | Openlane Inc | 股票-其他 | 1.14% | -0.40% | -1.41% | |
| 39 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 1.08% | — | -1.24% | |
| 40 | ADBE | Adobe Inc | 股票-科技 | 1.07% | — | -1.28% | |
| 41 | SPGI | S&p Global Inc | 股票-金融 | 0.97% | -0.22% | -1.25% | |
| 42 | IQV | Iqvia Holdings Inc | 股票-醫療保健 | 0.86% | -0.01% | -1.25% | |
| 43 | LYB | LyondellBasell Industries N.V. | 股票-原物料 | 0.80% | — | +58.07% | |
| 44 | TJX | Tjx Companies Inc | 股票-循環性消費 | 0.68% | -0.17% | -1.40% | |
| 45 | RPRX | Royalty Pharma plc | 股票-醫療保健 | 0.67% | -0.16% | -10.31% | |
| 46 | BAM | Brookfield Asset Mgmt-a | 股票-金融 | 0.65% | -0.03% | -7.59% | |
| 47 | DLTR | Dollar Tree Inc | 股票-非循環性消費 | 0.62% | -0.05% | -1.41% | |
| 48 | HCSG | Healthcare Services Group | 股票-其他 | 0.61% | +0.07% | -1.41% | |
| 49 | NVST | Envista Holdings CORP | 股票-醫療保健 | 0.60% | -0.09% | -1.41% | |
| 50 | AL | Air Lease CORP | 股票-其他 | 0.57% | -0.50% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ATS | Ats CORP | +1.3% | NEW | 新建倉 |
| 2 | MSFT | Microsoft CORP | +1% | -1.29% | 減碼 |
| 3 | AMZN | Amazon.com Inc | +0.9% | +4.72% | 加碼 |
| 4 | BNS | Bank Of Nova Scotia | +0.9% | +38.87% | 加碼 |
| 5 | ORCL | Oracle CORP | +0.9% | -1.27% | 減碼 |
| 6 | NVDA | Nvidia CORP | +0.7% | -1.40% | 減碼 |
| 7 | TMO | Thermo Fisher Scientific Inc | +0.6% | +78.80% | 加碼 |
| 8 | META | Meta Platforms Inc-class A | +0.5% | -11.55% | 減碼 |
| 9 | TME | Tencent Music Entertainm-adr | +0.5% | -7.23% | 減碼 |
| 10 | GOOGL | Alphabet Inc-cl A | +0.4% | -1.15% | 減碼 |
| 11 | MU | Micron Technology Inc | +0.4% | -10.48% | 減碼 |
| 12 | BN | Brookfield CORP | +0.4% | -7.60% | 減碼 |
| 13 | IBKR | Interactive Brokers Gro-cl A | +0.4% | +294.39% | 加碼 |
| 14 | TRU | Transunion | +0.3% | +6.09% | 加碼 |
| 15 | LASR | Nlight Inc | +0.3% | -1.39% | 減碼 |
| 16 | OPLN | Openlane Inc | +0.3% | -1.41% | 減碼 |
| 17 | CNH | CNH Industrial N.V. | +0.3% | -5.06% | 減碼 |
| 18 | BKNG | Booking Holdings Inc | +0.3% | -1.24% | 減碼 |
| 19 | ADSK | Autodesk Inc | +0.3% | -1.41% | 減碼 |
| 20 | KO | The Coca-Cola Company | +0.2% | -4.05% | 減碼 |
| 21 | ALGN | Align Technology Inc | +0.2% | -1.25% | 減碼 |
| 22 | PAYC | Paycom Software Inc | +0.2% | +1.25% | 加碼 |
| 23 | HCSG | Healthcare Services Group | +0.2% | -1.41% | 減碼 |
| 24 | LYB | LyondellBasell Industries N.V. | +0.2% | +58.07% | 加碼 |
| 25 | GOOG | Alphabet Inc-cl C | +0.2% | -1.40% | 減碼 |
| 26 | MKL | Markel Group Inc | +0.2% | -1.24% | 減碼 |
| 27 | CX | Cemex Sab-spons Adr Part Cer | +0.2% | -10.39% | 減碼 |
| 28 | DLTR | Dollar Tree Inc | +0.2% | -1.41% | 減碼 |
| 29 | B | Barrick Mining CORP | +0.2% | NEW | 新建倉 |
| 30 | HDB | Hdfc Bank Ltd-adr | +0.2% | -6.84% | 減碼 |
| 31 | CP | Canadian Pacific Kansas City | +0.1% | -7.60% | 減碼 |
| 32 | SCCO | Southern Copper CORP | +0.1% | -6.25% | 減碼 |
| 33 | DFIN | Donnelley Financial Solution | +0.1% | -1.39% | 減碼 |
| 34 | AL | Air Lease CORP | +0.1% | -1.40% | 減碼 |
| 35 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | — | 不變 |
| 36 | MA | Mastercard Inc - A | +0.1% | -1.22% | 減碼 |
| 37 | CME | Cme Group Inc | +0.1% | -1.40% | 減碼 |
| 38 | V | Visa Inc-class A Shares | +0.1% | -1.22% | 減碼 |
| 39 | ELV | Elevance Health Inc | +0.1% | +9.54% | 加碼 |
| 40 | ROG | Rogers CORP | +0.1% | +19.57% | 加碼 |
| 41 | NVST | Envista Holdings CORP | +0.1% | -1.41% | 減碼 |
| 42 | GIL | Gildan Activewear Inc | +0.1% | -7.61% | 減碼 |
| 43 | WCC | Wesco International Inc | +0.1% | -1.39% | 減碼 |
| 44 | TDC | Teradata CORP | +0.1% | +23.71% | 加碼 |
| 45 | WSC | Willscot Holdings CORP | +0.1% | +18.77% | 加碼 |
| 46 | FCX | Freeport-mcmoran Inc | +0.1% | -1.75% | 減碼 |
| 47 | WAB | Wabtec CORP | +0.1% | -1.39% | 減碼 |
| 48 | SPGI | S&p Global Inc | +0.1% | -1.25% | 減碼 |
| 49 | LAUR | Laureate Education Inc | +0.1% | -10.85% | 減碼 |
| 50 | VNT | Vontier CORP | +0.1% | -1.39% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Marathon Asset Management Ltd 在 Q2 2025 季度的美股持倉總市值約為 US$24.6億，共申報了 79 個公開持股部位。
在 Q2 2025 季度，Marathon Asset Management Ltd 按市值排列的前三大核心持股分別為：CNH (5.4%)、AMZN (4.4%)、MSFT (3.7%)。其中最大持股部位 CNH 佔據整體投資組合約 5.4% 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
ATS
市值: US$3930.7萬
本季最大獲利了結 / 清倉標的
EA
前期市值: US$3550.6萬
在 Q2 2025 季度中，Marathon Asset Management Ltd 共進行了 81 項持倉異動，包含新建倉 2 個部位、加碼 13 個部位、減碼 62 個部位以及清倉 4 個部位。 其中最大新建倉標的為 ATS。 本季清倉部位包含 EA。
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。