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: 0001572748
申報總市值
US$32.3億
US$32.3億
271 檔
12.5%
Marathon Trading Investment Management LLC 在 Q2 2025 季度的美股部位總計估值為 US$32.3億，分散於 271 個持倉標的之中，反映其市場參與廣度與投資規模。
在 Q2 2025 期間，Marathon Trading Investment Management LLC 展現了靈活的資產再平衡步調，透過出清 63 檔弱勢或達到目標價部位，將資金轉置於 31 檔新建倉標的之中。
在資產配置集中度方面，Marathon Trading Investment Management LLC 的前 5 大核心持股（包含 Spdr S&P 500 Etf Tr Put Option, GLD, TSLA 等）合計佔整體申報市值的 12.5%，反映機構在主要關鍵部位上的權重分佈。
本季最大新建倉標的
TLT
市值: US$560.1萬
本季最大獲利了結 / 清倉標的
AVGO
前期市值: US$643.9萬
僅顯示前 200 大持股（共 271 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 | ✓ | Spdr S&P 500 Etf Tr Put Option | ETF-大型股與成長 | 18.09% | -5.59% | +11.88% | |
| 2 | GLD | SPDR Gold Shares | ETF-避險與商品 | 12.98% | -0.33% | +192.77% | |
| 3 | TSLA | Tesla, Inc. | 股票-循環性消費 | 7.03% | +1.99% | +222.30% | |
| 4 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 5.88% | +0.77% | +478.00% | |
| 5 | GLD | SPDR Gold Shares | ETF-避險與商品 | 4.22% | -0.11% | +152.84% | |
| 6 | BAC | Bank of America Corporation | 股票-金融 | 2.04% | — | +17.26% | |
| 7 | BAC | Bank Of America CORP | 股票-金融 | 1.89% | — | EXIT | |
| 8 | NVDA | NVIDIA Corporation | 股票-科技 | 1.69% | +6.02% | -83.55% | |
| 9 | MSTR | Strategy Inc | 股票-科技 | 1.45% | -0.03% | — | |
| 10 | ✓ | Pdd Holdings Inc | 股票-其他 | 1.35% | -0.21% | +7.16% | |
| 11 | TSM | Taiwan Semiconductor Manufacturing Company Limited | 股票-科技 | 1.32% | +2.32% | +360.38% | |
| 12 | SPY | State Street SPDR S&P 500 ETF Trust | ETF-大型股與成長 | 1.22% | -6.45% | -2.94% | |
| 13 | TLT | iShares 20+ Year Treasury Bond ETF | ETF-政府公債 | 1.13% | +0.29% | +1.71% | |
| 14 | ✓ | Siriusxm Holdings Inc | 股票-其他 | 1.07% | — | — | |
| 15 | MSTR | Strategy Inc | 股票-科技 | 1.01% | -0.29% | +2.44% | |
| 16 | SLV | iShares Silver Trust | ETF-避險與商品 | 0.99% | -15.72% | +17.24% | |
| 17 | ✓ | Pdd Holdings Inc | 股票-其他 | 0.94% | +0.04% | -57.43% | |
| 18 | BABA | Alibaba Group Holding Limited | 股票-循環性消費 | 0.92% | -0.14% | +3.83% | |
| 19 | WFC | Wells Fargo & Co | 股票-金融 | 0.86% | +0.02% | -5.30% | |
| 20 | COIN | Coinbase Global, Inc. | 股票-金融 | 0.85% | -0.01% | EXIT | |
| 21 | ✓ | Amazon Com Inc | 股票-其他 | 0.80% | -0.03% | EXIT | |
| 22 | JD | JD.com, Inc. | 股票-循環性消費 | 0.78% | -0.02% | -38.46% | |
| 23 | IBIT | Ishares Bitcoin Trust ETF | ETF-加密貨幣 | 0.78% | -0.11% | -34.16% | |
| 24 | META | Meta Platforms, Inc. | 股票-通訊服務 | 0.78% | -0.03% | +72.55% | |
| 25 | BABA | Alibaba Group Holding Limited | 股票-循環性消費 | 0.74% | -0.19% | -46.51% | |
| 26 | ✓ | Palantir Technologies Inc | 股票-其他 | 0.73% | -0.24% | +25.00% | |
| 27 | ✓ | Meta Platforms Inc | 股票-其他 | 0.71% | +2.08% | +142.42% | |
| 28 | TLT | Ishares 20+ Year Treasury Bd | ETF-政府公債 | 0.67% | — | EXIT | |
| 29 | GOOG | Alphabet Inc. | 股票-通訊服務 | 0.65% | +2.55% | NEW | |
| 30 | IBIT | iShares Bitcoin Trust ETF | ETF-加密貨幣 | 0.65% | +0.17% | +361.66% | |
| 31 | MSTR | Strategy Inc | 股票-科技 | 0.65% | -0.23% | +177.82% | |
| 32 | ✓ | 股票-其他 | 0.63% | — | NEW | ||
| 33 | AEP | American Electric Power Company, Inc. | 股票-公用事業 | 0.61% | — | — | |
| 34 | MCHX | Marchex, Inc. | 股票-其他 | 0.58% | +0.49% | NEW | |
| 35 | KBAB | KraneShares 2x Long BABA Daily ETF | ETF-其他 | 0.58% | -0.05% | -41.80% | |
| 36 | SLV | iShares Silver Trust | ETF-避險與商品 | 0.50% | -13.96% | — | |
| 37 | MSFT | Microsoft Corporation | 股票-科技 | 0.50% | -0.72% | +663.64% | |
| 38 | WFC | Wells Fargo & Company | 股票-金融 | 0.48% | — | +0.40% | |
| 39 | AMD | Advanced Micro Devices, Inc. | 股票-科技 | 0.42% | -0.02% | +78.42% | |
| 40 | KBAB | KraneShares 2x Long BABA Daily ETF | ETF-其他 | 0.42% | +0.03% | +3.37% | |
| 41 | KWEB | Kranesh Csi China Internet | ETF-新興市場 | 0.41% | +0.01% | +184.41% | |
| 42 | AVGO | Broadcom Inc. | 股票-科技 | 0.40% | -0.42% | +157.45% | |
| 43 | AAPL | Apple Inc. | 股票-科技 | 0.38% | +0.04% | +434.48% | |
| 44 | JD | Jd.com Inc-adr | 股票-循環性消費 | 0.38% | -0.03% | +1540.83% | |
| 45 | TGT | Target CORP | 股票-循環性消費 | 0.37% | — | — | |
| 46 | MSFT | Microsoft Corporation | 股票-科技 | 0.37% | +0.23% | -34.74% | |
| 47 | BABA | Alibaba Group Holding-sp Adr | 股票-循環性消費 | 0.37% | -0.33% | -62.72% | |
| 48 | MU | Micron Technology, Inc. | 股票-科技 | 0.36% | +1.39% | +751.72% | |
| 49 | V | Visa Inc-class A Shares | 股票-金融 | 0.36% | -0.01% | EXIT | |
| 50 | ARKK | ARK Innovation ETF | ETF-其他 | 0.36% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GLD | SPDR Gold Shares | +8.3% | +192.77% | 加碼 |
| 2 | TSLA | Tesla, Inc. | +5% | +222.30% | 加碼 |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | +4.9% | +478.00% | 加碼 |
| 4 | GLD | SPDR Gold Shares | +2.5% | +152.84% | 加碼 |
| 5 | ✓ | Spdr S&P 500 Etf Tr Put Option | +1.7% | +11.88% | 加碼 |
| 6 | TSM | Taiwan Semiconductor Manufacturing Company Limited | +1.1% | +360.38% | 加碼 |
| 7 | TLT | Ishares 20+ Year Treasury Bd | +0.7% | NEW | 新建倉 |
| 8 | BAC | Bank Of America CORP | +0.7% | +52.46% | 加碼 |
| 9 | AEP | American Electric Power Company, Inc. | +0.6% | NEW | 新建倉 |
| 10 | COIN | Coinbase Global, Inc. | +0.5% | +48.91% | 加碼 |
| 11 | IBIT | iShares Bitcoin Trust ETF | +0.5% | +361.66% | 加碼 |
| 12 | GOOG | Alphabet Inc. | +0.5% | +318.92% | 加碼 |
| 13 | SLV | iShares Silver Trust | +0.5% | NEW | 新建倉 |
| 14 | MCHX | Marchex, Inc. | +0.5% | +693.33% | 加碼 |
| 15 | ✓ | Amazon Com Inc | +0.5% | +133.59% | 加碼 |
| 16 | MSTR | Strategy Inc | +0.5% | +177.82% | 加碼 |
| 17 | ✓ | Meta Platforms Inc | +0.5% | +142.42% | 加碼 |
| 18 | MSFT | Microsoft Corporation | +0.4% | +663.64% | 加碼 |
| 19 | META | Meta Platforms, Inc. | +0.4% | +72.55% | 加碼 |
| 20 | TGT | Target CORP | +0.4% | NEW | 新建倉 |
| 21 | ARKK | ARK Innovation ETF | +0.4% | NEW | 新建倉 |
| 22 | V | Visa Inc-class A Shares | +0.4% | +10938.96% | 加碼 |
| 23 | TGT | Target Corporation | +0.4% | NEW | 新建倉 |
| 24 | JD | Jd.com Inc-adr | +0.4% | +1540.83% | 加碼 |
| 25 | UBER | Uber Technologies, Inc. | +0.4% | +6220.00% | 加碼 |
| 26 | CRWV | Coreweave Inc-cl A | +0.4% | NEW | 新建倉 |
| 27 | ✓ | Palantir Technologies Inc | +0.3% | +25.00% | 加碼 |
| 28 | MU | Micron Technology, Inc. | +0.3% | +751.72% | 加碼 |
| 29 | BAC | Bank of America Corporation | +0.3% | +17.26% | 加碼 |
| 30 | MRK | Merck & Co. Inc. | +0.3% | +12204.07% | 加碼 |
| 31 | MSTR | Strategy Inc | +0.3% | — | 不變 |
| 32 | AVGO | Broadcom Inc. | +0.3% | +157.45% | 加碼 |
| 33 | AAPL | Apple Inc. | +0.3% | +434.48% | 加碼 |
| 34 | TLT | iShares 20+ Year Treasury Bond ETF | +0.3% | NEW | 新建倉 |
| 35 | ✓ | +0.3% | +94.02% | 加碼 | |
| 36 | ✓ | Nebius Group N.v. | +0.3% | +336.89% | 加碼 |
| 37 | KWEB | Kranesh Csi China Internet | +0.3% | +184.41% | 加碼 |
| 38 | C | Citigroup Inc. | +0.3% | +1377.78% | 加碼 |
| 39 | CRWV | CoreWeave, Inc. | +0.3% | NEW | 新建倉 |
| 40 | TSLA | Tesla Inc | +0.3% | NEW | 新建倉 |
| 41 | AMD | Advanced Micro Devices, Inc. | +0.2% | +78.42% | 加碼 |
| 42 | NFLX | Netflix, Inc. | +0.2% | +185.71% | 加碼 |
| 43 | UNH | Unitedhealth Group Inc | +0.2% | NEW | 新建倉 |
| 44 | MSTR | Strategy Inc | +0.2% | +2.44% | 加碼 |
| 45 | COIN | Coinbase Global, Inc. | +0.2% | +141.38% | 加碼 |
| 46 | MU | Micron Technology, Inc. | +0.2% | +175.34% | 加碼 |
| 47 | EWY | iShares MSCI South Korea ETF | +0.2% | NEW | 新建倉 |
| 48 | AMZN | Amazon.com, Inc. | +0.2% | +178.05% | 加碼 |
| 49 | LULU | Lululemon Athletica Inc | +0.2% | NEW | 新建倉 |
| 50 | ✓ | Gamestop CORP New $30 Exp 01/15/27 | +0.2% | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Marathon Trading Investment Management LLC 在 Q2 2025 季度的美股持倉總市值約為 US$32.3億，共申報了 271 個公開持股部位。
在 Q2 2025 季度，Marathon Trading Investment Management LLC 按市值排列的前三大核心持股分別為：Spdr S&P 500 Etf Tr Put Option (18.1%)、GLD (13.0%)、TSLA (7.0%)。其中最大持股部位 Spdr S&P 500 Etf Tr Put Option 佔據整體投資組合約 18.1% 的權重。
在 Q2 2025 季度中，Marathon Trading Investment Management LLC 共進行了 199 項持倉異動，包含新建倉 31 個部位、加碼 64 個部位、減碼 41 個部位以及清倉 63 個部位。 其中最大新建倉標的為 TLT。 本季清倉部位包含 AVGO。
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。
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。
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。