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: 0001838556
申報總市值
US$7.2億
US$7.2億
59 檔
50.2%
截至 Q4 2025 季度末，Murchinson Ltd. 的美股持倉估值約為 US$7.2億，全數申報部位共有 59 檔。
在 Q4 2025，Murchinson Ltd. 展現出較為審慎的避險與獲利了結姿態。本季共減碼 11 個部位並完全清倉 53 檔持股，調降曝險的部位數量高於加碼動作。
檢視投資組合結構，前 5 大主力部位（包含 TRP, WOLF, NTR）占據了總市值的 50.2%，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 | TRP | Tc Energy CORP | 股票-能源 | 26.27% | -0.45% | -26.90% | |
| 2 | WOLF | Wolfspeed Inc | 股票-其他 | 10.88% | — | -0.71% | |
| 3 | NTR | Nutrien LTD | 股票-原物料 | 9.41% | -31.29% | -36.83% | |
| 4 | SOBO | South Bow CORP | 股票-其他 | 6.49% | -7.27% | EXIT | |
| 5 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 5.49% | — | -48.72% | |
| 6 | SIRI 3.75 03-15-28債券 | Sirius Xm Holdings | 債券 | 4.06% | +0.01% | — | |
| 7 | NNDM | Nano Dimension LTD - Adr | 股票-其他 | 3.85% | +0.43% | — | |
| 8 | RY | Royal Bank Of Canada | 股票-金融 | 3.17% | -7.57% | -61.75% | |
| 9 | ORCL | Oracle CORP | 股票-科技 | 3.14% | -1.86% | EXIT | |
| 10 | TD | Toronto-dominion Bank | 股票-金融 | 2.73% | +2.54% | +26.76% | |
| 11 | SUNC | Sunococorp LLC | 股票-其他 | 2.52% | -0.46% | EXIT | |
| 12 | MSTR | Strategy Inc | 股票-科技 | 2.44% | — | — | |
| 13 | BMO | Bank Of Montreal | 股票-金融 | 2.05% | +5.96% | +63.91% | |
| 14 | RKT | Rocket Cos Inc-class A | 股票-金融 | 1.87% | — | +100.00% | |
| 15 | ✓ | Yorkville Acquisition CORP. S | 股票-其他 | 1.63% | +0.13% | — | |
| 16 | PTHS | Pelthos Therapeutics Inc | 股票-其他 | 1.44% | +0.40% | +3.39% | |
| 17 | DAY | Dayforce Inc | 股票-其他 | 1.12% | — | — | |
| 18 | MRNA | Moderna Inc | 股票-醫療保健 | 0.95% | — | — | |
| 19 | PYPL | Paypal Holdings Inc | 股票-金融 | 0.94% | — | — | |
| 20 | AEM | Agnico Eagle Mines LTD | 股票-原物料 | 0.82% | +0.21% | NEW | |
| 21 | NFLX | Netflix Inc | 股票-通訊服務 | 0.75% | — | — | |
| 22 | CLST | Catalyst Bancorp Inc | 股票-其他 | 0.66% | — | — | |
| 23 | ENB | Enbridge Inc | 股票-能源 | 0.66% | +0.17% | — | |
| 24 | FLR | Fluor CORP | 股票-工業 | 0.64% | — | — | |
| 25 | ORMP | Oramed Pharmaceuticals Inc | 股票-其他 | 0.61% | +0.29% | -23.48% | |
| 26 | AUB | Atlantic Union Bankshares Co | 股票-金融 | 0.61% | +0.14% | — | |
| 27 | B | Barrick Mining CORP | 股票-原物料 | 0.61% | +0.63% | NEW | |
| 28 | PFE | Pfizer Inc | 股票-醫療保健 | 0.60% | — | — | |
| 29 | GIL | Gildan Activewear Inc | 股票-循環性消費 | 0.51% | — | — | |
| 30 | KVUE | Kenvue Inc | 股票-非循環性消費 | 0.42% | -0.33% | EXIT | |
| 31 | ABUS | Arbutus Biopharma CORP | 股票-其他 | 0.39% | — | +17.73% | |
| 32 | RICK | Rci Hospitality Holdings Inc | 股票-其他 | 0.38% | — | — | |
| 33 | TDAY | USA Today Co Inc | 股票-其他 | 0.35% | -0.05% | -16.00% | |
| 34 | TASK | Taskus Inc-a | 股票-其他 | 0.32% | — | -3.27% | |
| 35 | BCE | Bce Inc | 股票-通訊服務 | 0.29% | — | +50.00% | |
| 36 | NGDN | New Gold Inc | 股票-其他 | 0.14% | — | — | |
| 37 | GENVR | Gen Digital Inc - Cvr | 股票-其他 | 0.08% | +0.01% | — | |
| 38 | CM | Can Imperial Bk Of Commerce | 股票-金融 | 0.08% | +10.54% | — | |
| 39 | BYND 7 10-15-30債券 | Beyond Meat Inc | 債券 | 0.06% | — | — | |
| 40 | LNSR | Lensar Inc | 股票-其他 | 0.06% | -0.02% | — | |
| 41 | NWBI | Northwest Bancshares Inc | 股票-其他 | 0.06% | +0.01% | — | |
| 42 | BYND | Beyond Meat Inc | 股票-非循環性消費 | 0.06% | — | -48.49% | |
| 43 | SPIR | Spire Global Inc | 股票-其他 | 0.05% | — | -26.73% | |
| 44 | ✓ | Bark Inc | 股票-其他 | 0.05% | — | — | |
| 45 | CWH | Camping World Holdings Inc-a | 股票-其他 | 0.05% | — | — | |
| 46 | APRE | Aprea Therapeutics Inc | 股票-其他 | 0.05% | — | — | |
| 47 | ✓ | Texas Ventures Acquisition I | 股票-其他 | 0.04% | — | — | |
| 48 | RPT | Rithm Property Trust Inc | 股票-其他 | 0.03% | — | — | |
| 49 | ENVX | Enovix CORP | 股票-其他 | 0.03% | — | +92.31% | |
| 50 | PLCE | Children's Place Inc/the | 股票-其他 | 0.03% | — | +7.50% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | SIRI 3.75 03-15-28債券 | Sirius Xm Holdings | +4% | — | 不變 |
| 2 | TD | Toronto-dominion Bank | +1.3% | +26.76% | 加碼 |
| 3 | RKT | Rocket Cos Inc-class A | +1.1% | +100.00% | 加碼 |
| 4 | BMO | Bank Of Montreal | +1.1% | +63.91% | 加碼 |
| 5 | NNDM | Nano Dimension LTD - Adr | +0.8% | — | 不變 |
| 6 | PTHS | Pelthos Therapeutics Inc | +0.5% | +3.39% | 加碼 |
| 7 | ✓ | Yorkville Acquisition CORP. S | +0.3% | — | 不變 |
| 8 | ABUS | Arbutus Biopharma CORP | +0.2% | +17.73% | 加碼 |
| 9 | BCE | Bce Inc | +0.1% | +50.00% | 加碼 |
| 10 | AUB | Atlantic Union Bankshares Co | +0.1% | — | 不變 |
| 11 | TDAY | USA Today Co Inc | +0.1% | -16.00% | 減碼 |
| 12 | ORMP | Oramed Pharmaceuticals Inc | 0% | -23.48% | 減碼 |
| 13 | ENVX | Enovix CORP | 0% | +92.31% | 加碼 |
| 14 | NWBI | Northwest Bancshares Inc | 0% | — | 不變 |
| 15 | ✓ | Bark Inc | — | — | 不變 |
| 16 | PLCE | Children's Place Inc/the | — | +7.50% | 加碼 |
| 17 | NFE | New Fortress Energy Inc | — | — | 不變 |
| 18 | GENVR | Gen Digital Inc - Cvr | 0% | — | 不變 |
| 19 | SPIR | Spire Global Inc | 0% | -26.73% | 減碼 |
| 20 | TASK | Taskus Inc-a | -0.1% | -3.27% | 減碼 |
| 21 | BYND | Beyond Meat Inc | -0.1% | -48.49% | 減碼 |
| 22 | AEM | Agnico Eagle Mines LTD | -0.8% | -60.32% | 減碼 |
| 23 | TRP | Tc Energy CORP | -1.8% | -26.90% | 減碼 |
| 24 | RY | Royal Bank Of Canada | -2.5% | -61.75% | 減碼 |
| 25 | SPY | Ss Spdr S&p 500 ETF Trust-us | -2.8% | -48.72% | 減碼 |
| 26 | WOLF | Wolfspeed Inc | -3.3% | -0.71% | 減碼 |
| 27 | NTR | Nutrien LTD | -6.1% | -36.83% | 減碼 |
| 28 | SOBO | South Bow CORP | — | NEW | 新建倉 |
| 29 | ORCL | Oracle CORP | — | NEW | 新建倉 |
| 30 | SUNC | Sunococorp LLC | — | NEW | 新建倉 |
| 31 | MSTR | Strategy Inc | — | NEW | 新建倉 |
| 32 | 07WA | Mr Cooper Group Inc | — | EXIT | 清倉 |
| 33 | CNI | Canadian Natl Railway Co | — | EXIT | 清倉 |
| 34 | VALE | Vale Sa-sp Adr | — | EXIT | 清倉 |
| 35 | HOOD | Robinhood Markets Inc - A | — | EXIT | 清倉 |
| 36 | DAY | Dayforce Inc | — | NEW | 新建倉 |
| 37 | UEC | Uranium Energy CORP | — | EXIT | 清倉 |
| 38 | MRNA | Moderna Inc | — | NEW | 新建倉 |
| 39 | PYPL | Paypal Holdings Inc | — | NEW | 新建倉 |
| 40 | OKLO | Oklo Inc | — | EXIT | 清倉 |
| 41 | FSLR | First Solar Inc | — | EXIT | 清倉 |
| 42 | INTC | Intel CORP | — | EXIT | 清倉 |
| 43 | CP | Canadian Pacific Kansas City | — | EXIT | 清倉 |
| 44 | IREN | IREN Limited | — | EXIT | 清倉 |
| 45 | NFLX | Netflix Inc | — | NEW | 新建倉 |
| 46 | RGTI | Rigetti Computing Inc | — | EXIT | 清倉 |
| 47 | CLST | Catalyst Bancorp Inc | — | NEW | 新建倉 |
| 48 | ENB | Enbridge Inc | — | NEW | 新建倉 |
| 49 | FLR | Fluor CORP | — | NEW | 新建倉 |
| 50 | B | Barrick Mining CORP | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Murchinson Ltd. 在 Q4 2025 季度的美股持倉總市值約為 US$7.2億，共申報了 59 個公開持股部位。
在 Q4 2025 季度，Murchinson Ltd. 按市值排列的前三大核心持股分別為：TRP (26.3%)、WOLF (10.9%)、NTR (9.4%)。其中最大持股部位 TRP 佔據整體投資組合約 26.3% 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
SOBO
市值: US$4030.9萬
本季最大獲利了結 / 清倉標的
07WA
前期市值: US$1149.8萬
在 Q4 2025 季度中，Murchinson Ltd. 共進行了 104 項持倉異動，包含新建倉 32 個部位、加碼 8 個部位、減碼 11 個部位以及清倉 53 個部位。 其中最大新建倉標的為 SOBO。 本季清倉部位包含 07WA。
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。