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: 0001096978
申報總市值
US$4.6億
US$4.6億
69 檔
45.0%
根據最新整理的 13F 季度數據集，Mariner Investment Group LLC 於 Q3 2025 結束時的管理資產規模為 US$4.6億。該機構在本季度申報了 69 檔美股持倉，呈現出該時期的主要投資地圖。
在 Q3 2025，Mariner Investment Group LLC 操作展現出積極擴展與加碼意向。本季共新建倉 48 個新部位，並對 10 個既有持股進行加碼（合計增持 58 檔），相較減碼與清倉部位顯著佔優。
整體而言，Mariner Investment Group LLC 的前 5 大持股（包含 IBIT, SPY, LQD）貢獻了組合市值的 45.0%，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 | IBIT | Ishares Bitcoin Trust ETF | ETF-加密貨幣 | 39.62% | -12.27% | +142.29% | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 7.86% | +10.72% | +87.30% | |
| 3 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-投資等級公司債 | 6.34% | — | NEW | |
| 4 | JFR | Nuveen Floating Rate Income | 股票-其他 | 5.58% | — | -42.99% | |
| 5 | NEE 3 03-01-27債券 | Nextera Energy Capital | 債券 | 3.58% | — | — | |
| 6 | RITM | Rithm Capital CORP | 股票-房地產 | 3.36% | -0.95% | +1850.00% | |
| 7 | JD 0.25 06-01-29債券 | Jd.com Inc | 債券 | 3.26% | — | — | |
| 8 | F 0 03-15-26債券 | Ford Motor Company | 債券 | 3.07% | — | — | |
| 9 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | 債券 | 2.78% | -2.39% | — | |
| 10 | SNOW 0 10-01-27債券 | Snowflake Inc | 債券 | 2.30% | -5.13% | EXIT | |
| 11 | BHF | Brighthouse Financial Inc | 股票-金融 | 2.18% | +0.34% | NEW | |
| 12 | FLR 1.125 08-15-29債券 | Fluor CORP | 債券 | 1.83% | -1.77% | — | |
| 13 | DUK | Duke Energy CORP | 股票-公用事業 | 1.50% | — | +30.00% | |
| 14 | RWT | Redwood Trust Inc | 股票-其他 | 1.48% | -0.33% | +323.71% | |
| 15 | ON 0.5 03-01-29債券 | On Semiconductor CORP | 債券 | 1.40% | -3.41% | — | |
| 16 | ETR | Entergy CORP | 股票-公用事業 | 1.27% | -0.31% | -10.00% | |
| 17 | LECO | Lincoln Electric Holdings | 股票-工業 | 1.07% | +0.47% | +114.29% | |
| 18 | FOUR | Shift4 Payments Inc-class A | 股票-科技 | 1.05% | -1.35% | — | |
| 19 | RWT 7.75 06-15-27債券 | Redwood Trust Inc | 債券 | 1.00% | -0.14% | +153.85% | |
| 20 | VST | Vistra CORP | 股票-公用事業 | 1.00% | -0.01% | EXIT | |
| 21 | CEG | Constellation Energy | 股票-公用事業 | 0.81% | -0.01% | EXIT | |
| 22 | WMB | Williams Cos Inc | 股票-能源 | 0.78% | -0.10% | +63.64% | |
| 23 | AMD | Advanced Micro Devices | 股票-科技 | 0.61% | — | — | |
| 24 | RDFN 0.5 04-01-27債券 | Redfin CORP | 債券 | 0.46% | -0.12% | — | |
| 25 | CIM | Chimera Investment CORP | 股票-其他 | 0.46% | -0.28% | — | |
| 26 | UPS | United Parcel Service-cl B | 股票-工業 | 0.39% | — | — | |
| 27 | EIM | Eaton Vance Municipal Bond | 股票-其他 | 0.35% | — | -41.58% | |
| 28 | AD | Array Digital Infrastructure | 股票-其他 | 0.32% | — | -52.69% | |
| 29 | PMT 8.5 06-01-29債券 | Pennymac CORP | 債券 | 0.31% | +0.14% | — | |
| 30 | CC | Chemours Co/the | 股票-原物料 | 0.28% | — | — | |
| 31 | RRC | Range Resources CORP | 股票-能源 | 0.27% | -0.15% | -10.45% | |
| 32 | LYB | LyondellBasell Industries N.V. | 股票-原物料 | 0.26% | -0.03% | EXIT | |
| 33 | GLW | Corning Inc | 股票-科技 | 0.24% | +0.71% | +150.00% | |
| 34 | VMI | Valmont Industries | 股票-工業 | 0.23% | — | — | |
| 35 | WOLF | Wolfspeed Inc | 股票-其他 | 0.22% | -0.02% | — | |
| 36 | DOW | Dow Inc | 股票-原物料 | 0.21% | +0.11% | +189.00% | |
| 37 | KR | Kroger Co | 股票-非循環性消費 | 0.20% | — | — | |
| 38 | SVXY | Proshares Short Vix St Futur | ETF-其他 | 0.19% | — | — | |
| 39 | APA | Apa CORP | 股票-能源 | 0.15% | -0.01% | EXIT | |
| 40 | BLDR | Builders Firstsource Inc | 股票-工業 | 0.15% | -0.19% | EXIT | |
| 41 | LUMN | Lumen Technologies Inc | 股票-通訊服務 | 0.14% | +0.14% | — | |
| 42 | CCOI | Cogent Communications Holdin | 股票-其他 | 0.11% | -0.11% | EXIT | |
| 43 | CRH | CRH plc | 股票-原物料 | 0.11% | — | — | |
| 44 | MTZ | Mastec Inc | 股票-工業 | 0.10% | +0.16% | -68.00% | |
| 45 | SSTK | Shutterstock Inc | 股票-其他 | 0.10% | — | — | |
| 46 | FSK | Fs Kkr Capital CORP | 股票-金融 | 0.10% | -0.18% | — | |
| 47 | MLM | Martin Marietta Materials | 股票-原物料 | 0.10% | — | — | |
| 48 | VMC | Vulcan Materials Co | 股票-原物料 | 0.09% | — | — | |
| 49 | FERG | Ferguson Enterprises Inc | 股票-工業 | 0.09% | +0.62% | NEW | |
| 50 | NE | Noble Corporation plc | 股票-能源 | 0.09% | -0.06% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | RWT | Redwood Trust Inc | +1.1% | +323.71% | 加碼 |
| 2 | ETR | Entergy CORP | +0.6% | -10.00% | 加碼 |
| 3 | LUMN | Lumen Technologies Inc | +0.1% | — | 加碼 |
| 4 | WMB | Williams Cos Inc | +0.1% | +63.64% | 加碼 |
| 5 | BRLSW | Oxus Acquisition CORP -cw23 | — | — | 不變 |
| 6 | BSLKW | Golden Arrow Merger A -cw26 | — | — | 不變 |
| 7 | CYCUW | Cycurion Inc-cw27 | — | — | 不變 |
| 8 | XLF | Ss Financial Select Sector | 0% | — | 加碼 |
| 9 | NVDA | Nvidia CORP | 0% | — | 不變 |
| 10 | KR | Kroger Co | -0.1% | — | 不變 |
| 11 | RDFN 0.5 04-01-27債券 | Redfin CORP | -0.1% | — | 不變 |
| 12 | AR | Antero Resources CORP | -0.4% | +99.20% | 加碼 |
| 13 | CEG | Constellation Energy | -0.5% | -83.13% | 減碼 |
| 14 | AD | Array Digital Infrastructure | -0.6% | -52.69% | 減碼 |
| 15 | GLW | Corning Inc | -0.8% | +150.00% | 加碼 |
| 16 | APA | Apa CORP | -0.9% | — | 減碼 |
| 17 | VST | Vistra CORP | -1% | -13.33% | 加碼 |
| 18 | RRC | Range Resources CORP | -1.1% | -10.45% | 加碼 |
| 19 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | -5% | -32.34% | 減碼 |
| 20 | JFR | Nuveen Floating Rate Income | -10.4% | -42.99% | 減碼 |
| 21 | SPY | Ss Spdr S&p 500 ETF Trust-us | -30.6% | +87.30% | 加碼 |
| 22 | IBIT | Ishares Bitcoin Trust ETF | — | NEW | 新建倉 |
| 23 | BKLN | Invesco Senior Loan ETF | — | EXIT | 清倉 |
| 24 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | — | NEW | 新建倉 |
| 25 | NEE 3 03-01-27債券 | Nextera Energy Capital | — | NEW | 新建倉 |
| 26 | RITM | Rithm Capital CORP | — | NEW | 新建倉 |
| 27 | JD 0.25 06-01-29債券 | Jd.com Inc | — | NEW | 新建倉 |
| 28 | F 0 03-15-26債券 | Ford Motor Company | — | NEW | 新建倉 |
| 29 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | — | NEW | 新建倉 |
| 30 | SNOW 0 10-01-27債券 | Snowflake Inc | — | NEW | 新建倉 |
| 31 | BHF | Brighthouse Financial Inc | — | NEW | 新建倉 |
| 32 | FLR 1.125 08-15-29債券 | Fluor CORP | — | NEW | 新建倉 |
| 33 | DUK | Duke Energy CORP | — | NEW | 新建倉 |
| 34 | ON 0.5 03-01-29債券 | On Semiconductor CORP | — | NEW | 新建倉 |
| 35 | TLT | Ishares 20+ Year Treasury Bd | — | EXIT | 清倉 |
| 36 | LECO | Lincoln Electric Holdings | — | NEW | 新建倉 |
| 37 | FOUR | Shift4 Payments Inc-class A | — | NEW | 新建倉 |
| 38 | RWT 7.75 06-15-27債券 | Redwood Trust Inc | — | NEW | 新建倉 |
| 39 | EQT | Eqt CORP | — | EXIT | 清倉 |
| 40 | XLU | St Sr Utl Sl Se Spdr Etf-usd | — | EXIT | 清倉 |
| 41 | AMD | Advanced Micro Devices | — | NEW | 新建倉 |
| 42 | VLO | Valero Energy CORP | — | EXIT | 清倉 |
| 43 | CIM | Chimera Investment CORP | — | NEW | 新建倉 |
| 44 | UPS | United Parcel Service-cl B | — | NEW | 新建倉 |
| 45 | EIM | Eaton Vance Municipal Bond | — | NEW | 新建倉 |
| 46 | FTAI | FTAI Aviation Ltd. | — | EXIT | 清倉 |
| 47 | PMT 8.5 06-01-29債券 | Pennymac CORP | — | NEW | 新建倉 |
| 48 | CC | Chemours Co/the | — | NEW | 新建倉 |
| 49 | LYB | LyondellBasell Industries N.V. | — | NEW | 新建倉 |
| 50 | VMI | Valmont Industries | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Mariner Investment Group LLC 在 Q3 2025 季度的美股持倉總市值約為 US$4.6億，共申報了 69 個公開持股部位。
在 Q3 2025 季度，Mariner Investment Group LLC 按市值排列的前三大核心持股分別為：IBIT (39.6%)、SPY (7.9%)、LQD (6.3%)。其中最大持股部位 IBIT 佔據整體投資組合約 39.6% 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
IBIT
市值: US$1.3億
本季最大獲利了結 / 清倉標的
BKLN
前期市值: US$6379.6萬
在 Q3 2025 季度中，Mariner Investment Group LLC 共進行了 74 項持倉異動，包含新建倉 48 個部位、加碼 10 個部位、減碼 5 個部位以及清倉 11 個部位。 其中最大新建倉標的為 IBIT。 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。