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: 0001712901
申報總市值
US$10.5億
US$10.5億
44 檔
27.0%
根據最新整理的 13F 季度數據集，Melqart Asset Management 於 Q4 2025 結束時的管理資產規模為 US$10.5億。該機構在本季度申報了 44 檔美股持倉，呈現出該時期的主要投資地圖。
Q4 2025 的申報記錄反映 Melqart Asset Management 的板塊替換策略：機構本季推動了 34 筆增持與 30 筆減持，籌碼呈現明顯的結構重組。
檢視投資組合結構，前 5 大主力部位（包含 WBD, FYBR, AVGO）占據了總市值的 27.0%，展現出該機構在 Q4 2025 的重點資金聚焦與風險分佈特徵。
| # | 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 | WBD | Warner Bros Discovery Inc | 股票-通訊服務 | 7.28% | +6.14% | — | |
| 2 | FYBR | Frontier Communications Pare | 股票-其他 | 5.67% | — | +143.88% | |
| 3 | AVGO | Broadcom Inc | 股票-科技 | 5.01% | -2.20% | EXIT | |
| 4 | GTLS | Chart Industries Inc | 股票-工業 | 5.00% | -1.14% | — | |
| 5 | EA | Electronic Arts Inc | 股票-通訊服務 | 4.96% | -0.48% | — | |
| 6 | TXNM | Txnm Energy Inc | 股票-公用事業 | 4.58% | +1.34% | +35.10% | |
| 7 | ✓ | Cyberark Software LTD. Cmn | 股票-其他 | 4.57% | — | -1.92% | |
| 8 | KVUE | Kenvue Inc | 股票-非循環性消費 | 4.26% | -4.26% | EXIT | |
| 9 | NSC | Norfolk Southern CORP | 股票-工業 | 4.24% | +2.72% | — | |
| 10 | CYTK | Cytokinetics Inc | 股票-醫療保健 | 3.90% | +0.74% | -20.53% | |
| 11 | EXK | Exact Sciences CORP | 股票-原物料 | 3.77% | — | — | |
| 12 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 3.49% | -1.93% | +53.27% | |
| 13 | SNOW | Snowflake Inc | 股票-科技 | 3.12% | — | +176.49% | |
| 14 | PLYM | Plymouth Industrial Reit Inc | 股票-其他 | 3.07% | — | — | |
| 15 | NVDA | Nvidia CORP | 股票-科技 | 2.87% | -1.86% | +5.41% | |
| 16 | AXTA | Axalta Coating Systems Ltd. | 股票-原物料 | 2.67% | -1.39% | — | |
| 17 | RNAGBP | Avidity Biosciences Inc | 股票-其他 | 2.53% | — | — | |
| 18 | 8QR | Confluent Inc-class A | 股票-其他 | 2.43% | — | +228.40% | |
| 19 | MRVL | Marvell Technology Inc | 股票-科技 | 2.24% | -1.02% | -17.64% | |
| 20 | FWRD | Forward Air CORP | 股票-其他 | 2.09% | -1.45% | EXIT | |
| 21 | GPN | Global Payments Inc | 股票-工業 | 1.89% | +0.83% | — | |
| 22 | CWAN | Clearwater Analytics Holdings, Inc. | 股票-科技 | 1.83% | -5.28% | EXIT | |
| 23 | WDC | Western Digital CORP | 股票-科技 | 1.69% | -1.71% | EXIT | |
| 24 | ORCL | Oracle CORP | 股票-科技 | 1.61% | -1.01% | EXIT | |
| 25 | CPRI | Capri Holdings Limited | 股票-循環性消費 | 1.49% | -1.45% | EXIT | |
| 26 | SNDK | Sandisk CORP | 股票-科技 | 1.48% | -1.81% | -57.43% | |
| 27 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.46% | +1.55% | NEW | |
| 28 | AMD | Advanced Micro Devices | 股票-科技 | 1.44% | +1.20% | — | |
| 29 | MDB | Mongodb Inc | 股票-科技 | 1.15% | — | -14.64% | |
| 30 | MU | Micron Technology Inc | 股票-科技 | 1.12% | — | +43.37% | |
| 31 | PENN | Penn Entertainment Inc | 股票-循環性消費 | 1.04% | -1.15% | EXIT | |
| 32 | SIMO | Silicon Motion Technol-adr | 股票-其他 | 0.90% | +0.62% | -7.30% | |
| 33 | ✓ | 股票-其他 | 0.73% | +0.10% | — | ||
| 34 | AEVA | Aeva Technologies Inc | 股票-其他 | 0.72% | +0.53% | +45.08% | |
| 35 | RBRK | Rubrik Inc-a | 股票-科技 | 0.63% | — | -59.01% | |
| 36 | CDTX | Cidara Therapeutics Inc | 股票-其他 | 0.58% | — | — | |
| 37 | TWLO | Twilio Inc - A | 股票-科技 | 0.57% | — | — | |
| 38 | SHOP | Shopify Inc - Class A | 股票-科技 | 0.51% | — | +134.32% | |
| 39 | FROG | JFrog Ltd. | 股票-科技 | 0.51% | — | — | |
| 40 | ABVX | Abivax Sa-adr | 股票-其他 | 0.44% | +3.90% | NEW | |
| 41 | IHRT | Iheartmedia Inc - Class A | 股票-其他 | 0.22% | +0.08% | — | |
| 42 | FRO | Frontline plc | 股票-其他 | 0.21% | — | +421.05% | |
| 43 | ✓ | 股票-其他 | 0.03% | — | — | ||
| 44 | MBC | Masterbrand Inc | 股票-循環性消費 | 0.02% | -0.88% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | FYBR | Frontier Communications Pare | +2.6% | +143.88% | 加碼 |
| 2 | 8QR | Confluent Inc-class A | +1.8% | +228.40% | 加碼 |
| 3 | AVGO | Broadcom Inc | +1.6% | +91.54% | 加碼 |
| 4 | SNOW | Snowflake Inc | +1.6% | +176.49% | 加碼 |
| 5 | FWRD | Forward Air CORP | +0.8% | +122.25% | 加碼 |
| 6 | TSM | Taiwan Semiconductor-sp Adr | +0.7% | +53.27% | 加碼 |
| 7 | MU | Micron Technology Inc | +0.5% | +43.37% | 加碼 |
| 8 | AMZN | Amazon.com Inc | +0.4% | +71.71% | 加碼 |
| 9 | SHOP | Shopify Inc - Class A | +0.2% | +134.32% | 加碼 |
| 10 | TXNM | Txnm Energy Inc | +0.2% | +35.10% | 加碼 |
| 11 | FRO | Frontline plc | +0.2% | +421.05% | 加碼 |
| 12 | AEVA | Aeva Technologies Inc | 0% | +45.08% | 加碼 |
| 13 | CPRI | Capri Holdings Limited | -0.1% | +6.12% | 加碼 |
| 14 | MDB | Mongodb Inc | -0.2% | -14.64% | 減碼 |
| 15 | ABVX | Abivax Sa-adr | -0.3% | -48.58% | 減碼 |
| 16 | SIMO | Silicon Motion Technol-adr | -0.4% | -7.30% | 減碼 |
| 17 | SNDK | Sandisk CORP | -0.8% | -57.43% | 減碼 |
| 18 | NVDA | Nvidia CORP | -0.8% | +5.41% | 加碼 |
| 19 | PENN | Penn Entertainment Inc | -0.9% | -5.41% | 減碼 |
| 20 | WDC | Western Digital CORP | -1.3% | -47.00% | 減碼 |
| 21 | MRVL | Marvell Technology Inc | -1.4% | -17.64% | 減碼 |
| 22 | RBRK | Rubrik Inc-a | -1.6% | -59.01% | 減碼 |
| 23 | CYTK | Cytokinetics Inc | -1.9% | -20.53% | 減碼 |
| 24 | ✓ | Cyberark Software LTD. Cmn | -2.3% | -1.92% | 減碼 |
| 25 | WBD | Warner Bros Discovery Inc | — | NEW | 新建倉 |
| 26 | AEBA | Allete Inc | — | EXIT | 清倉 |
| 27 | GTLS | Chart Industries Inc | — | NEW | 新建倉 |
| 28 | EA | Electronic Arts Inc | — | NEW | 新建倉 |
| 29 | KVUE | Kenvue Inc | — | NEW | 新建倉 |
| 30 | SNPS | Synopsys Inc | — | EXIT | 清倉 |
| 31 | NSC | Norfolk Southern CORP | — | NEW | 新建倉 |
| 32 | EXK | Exact Sciences CORP | — | NEW | 新建倉 |
| 33 | KEL | Kellanova | — | EXIT | 清倉 |
| 34 | PLYM | Plymouth Industrial Reit Inc | — | NEW | 新建倉 |
| 35 | ✓ | Wns Holdings LTD | — | EXIT | 清倉 |
| 36 | TSLA | Tesla Inc | — | EXIT | 清倉 |
| 37 | AXTA | Axalta Coating Systems Ltd. | — | NEW | 新建倉 |
| 38 | RNAGBP | Avidity Biosciences Inc | — | NEW | 新建倉 |
| 39 | GPN | Global Payments Inc | — | NEW | 新建倉 |
| 40 | CWAN | Clearwater Analytics Holdings, Inc. | — | NEW | 新建倉 |
| 41 | COIN | Coinbase Global Inc -class A | — | EXIT | 清倉 |
| 42 | CCL1EUR | Carnival CORP LTD | — | EXIT | 清倉 |
| 43 | ORCL | Oracle CORP | — | NEW | 新建倉 |
| 44 | PRKS | United Parks & Resorts Inc | — | EXIT | 清倉 |
| 45 | INDV | Indivior Pharmaceuticals, Inc. | — | EXIT | 清倉 |
| 46 | AMD | Advanced Micro Devices | — | NEW | 新建倉 |
| 47 | BABA | Alibaba Group Holding-sp Adr | — | EXIT | 清倉 |
| 48 | BIDU | Baidu Inc - Spon Adr | — | EXIT | 清倉 |
| 49 | VRNA | Verona Pharma PLC - Adr | — | EXIT | 清倉 |
| 50 | NTNX | Nutanix Inc - A | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Melqart Asset Management 在 Q4 2025 季度的美股持倉總市值約為 US$10.5億，共申報了 44 個公開持股部位。
在 Q4 2025 季度，Melqart Asset Management 按市值排列的前三大核心持股分別為：WBD (7.3%)、FYBR (5.7%)、AVGO (5.0%)。其中最大持股部位 WBD 佔據整體投資組合約 7.3% 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
WBD
市值: US$7389.9萬
本季最大獲利了結 / 清倉標的
AEBA
前期市值: US$5224.5萬
在 Q4 2025 季度中，Melqart Asset Management 共進行了 64 項持倉異動，包含新建倉 20 個部位、加碼 14 個部位、減碼 10 個部位以及清倉 20 個部位。 其中最大新建倉標的為 WBD。 本季清倉部位包含 AEBA。
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。