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: 0001569356
申報總市值
US$9.9億
US$9.9億
118 檔
35.4%
Q4 2025 季度申報顯示，NINE MASTS CAPITAL Ltd 揭露的美股組合總市值為 US$9.9億，涵蓋 118 個不同之權益投資部位。
在 Q4 2025，NINE MASTS CAPITAL Ltd 操作展現出積極擴展與加碼意向。本季共新建倉 27 個新部位，並對 3 個既有持股進行加碼（合計增持 30 檔），相較減碼與清倉部位顯著佔優。
整體而言，NINE MASTS CAPITAL Ltd 的前 5 大持股（包含 BABA 0.5 06-01-31, IBIT, SPY）貢獻了組合市值的 35.4%，形成該機構在 Q4 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 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | 債券 | 16.87% | -8.64% | — | |
| 2 | IBIT | Ishares Bitcoin Trust ETF | ETF-加密貨幣 | 16.15% | — | — | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 12.23% | +35.21% | -52.66% | |
| 4 | NSC | Norfolk Southern CORP | 股票-工業 | 8.00% | -1.92% | — | |
| 5 | FOX | Fox CORP - Class B | 股票-通訊服務 | 7.30% | -1.87% | +3.29% | |
| 6 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 3.27% | -2.76% | EXIT | |
| 7 | ✓ | Cyberark Software LTD. Cmn | 股票-其他 | 3.18% | — | — | |
| 8 | NIO 4.625 10-15-30債券 | Nio Inc | 債券 | 2.93% | -0.68% | +342.53% | |
| 9 | QRVO | Qorvo Inc | 股票-科技 | 2.44% | -0.17% | — | |
| 10 | ASX | Ase Technology Holding -adr | 股票-科技 | 2.05% | -1.58% | -12.13% | |
| 11 | GSK | Gsk Plc-spon Adr | 股票-醫療保健 | 1.74% | — | — | |
| 12 | Z | Zillow Group Inc - C | 股票-通訊服務 | 1.66% | -0.24% | — | |
| 13 | EXK | Exact Sciences CORP | 股票-原物料 | 1.64% | — | — | |
| 14 | RYAAY | Ryanair Holdings Plc-sp Adr | 股票-工業 | 1.63% | -0.15% | -21.95% | |
| 15 | JD | Jd.com Inc-adr | 股票-循環性消費 | 1.35% | -0.53% | — | |
| 16 | WBD | Warner Bros Discovery Inc | 股票-通訊服務 | 1.25% | -1.21% | -34.58% | |
| 17 | VRSN | Verisign Inc | 股票-科技 | 1.17% | — | — | |
| 18 | RNAGBP | Avidity Biosciences Inc | 股票-其他 | 0.98% | — | — | |
| 19 | RNW | ReNew Energy Global Plc | 股票-其他 | 0.88% | -0.13% | — | |
| 20 | DAY | Dayforce Inc | 股票-其他 | 0.88% | — | — | |
| 21 | PBR | Petroleo Brasileiro-spon Adr | 股票-能源 | 0.84% | — | — | |
| 22 | ETHA | Ishares Ethereum Trust ETF | ETF-其他 | 0.75% | — | — | |
| 23 | TXNM | Txnm Energy Inc | 股票-公用事業 | 0.72% | -0.06% | +69.00% | |
| 24 | GTLS | Chart Industries Inc | 股票-工業 | 0.71% | +0.64% | NEW | |
| 25 | HO1 | Hologic Inc | 股票-其他 | 0.64% | -2.45% | EXIT | |
| 26 | KVUE | Kenvue Inc | 股票-非循環性消費 | 0.58% | +0.51% | — | |
| 27 | UTE0 | Cantaloupe Inc | 股票-其他 | 0.51% | -0.23% | EXIT | |
| 28 | BIDU | Baidu Inc - Spon Adr | 股票-通訊服務 | 0.45% | — | -44.98% | |
| 29 | NIO | Nio Inc - Adr | 股票-循環性消費 | 0.42% | -0.20% | — | |
| 30 | BTI | British American Tob-sp Adr | 股票-非循環性消費 | 0.34% | — | — | |
| 31 | JHG | Janus Henderson Group plc | 股票-金融 | 0.32% | -0.12% | — | |
| 32 | NVDA | Nvidia CORP | 股票-科技 | 0.29% | -0.15% | — | |
| 33 | POH3 | Carnival Plc-adr | 股票-其他 | 0.29% | — | -91.69% | |
| 34 | CWAN | Clearwater Analytics Holdings, Inc. | 股票-科技 | 0.29% | -2.00% | EXIT | |
| 35 | EA | Electronic Arts Inc | 股票-通訊服務 | 0.28% | -1.16% | — | |
| 36 | ✓ | Csg Systems International In | 股票-其他 | 0.26% | — | — | |
| 37 | NFLX | Netflix Inc | 股票-通訊服務 | 0.23% | -0.12% | EXIT | |
| 38 | AXTA | Axalta Coating Systems Ltd. | 股票-原物料 | 0.22% | +0.04% | NEW | |
| 39 | MAGS | Roundhill Magnificent Seven | ETF-其他 | 0.21% | — | — | |
| 40 | 628 | Semrush Holdings Inc-a | 股票-其他 | 0.20% | — | — | |
| 41 | NOW | Servicenow Inc | 股票-科技 | 0.20% | +0.04% | NEW | |
| 42 | FYBR | Frontier Communications Pare | 股票-其他 | 0.20% | — | -70.70% | |
| 43 | BIP | Brookfield Infrastructure Partners L.P. | 股票-公用事業 | 0.19% | — | — | |
| 44 | XOM | Exxon Mobil CORP | 股票-能源 | 0.18% | -0.08% | EXIT | |
| 45 | TGNA | Tegna Inc | 股票-其他 | 0.15% | — | — | |
| 46 | TWO | Two Harbors Investment CORP | 股票-其他 | 0.15% | +0.11% | NEW | |
| 47 | LYB | LyondellBasell Industries N.V. | 股票-原物料 | 0.14% | — | +77.67% | |
| 48 | TTD | Trade Desk Inc/the -class A | 股票-通訊服務 | 0.13% | — | -48.10% | |
| 49 | VALE | Vale Sa-sp Adr | 股票-原物料 | 0.13% | +0.04% | NEW | |
| 50 | SDA | Sealed Air CORP | 股票-循環性消費 | 0.13% | — | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +11.2% | -52.66% | 減碼 |
| 2 | NIO 4.625 10-15-30債券 | Nio Inc | +1.1% | +342.53% | 加碼 |
| 3 | WBD | Warner Bros Discovery Inc | +0.7% | -34.58% | 減碼 |
| 4 | TXNM | Txnm Energy Inc | -0.3% | +69.00% | 加碼 |
| 5 | TTD | Trade Desk Inc/the -class A | -0.8% | -48.10% | 減碼 |
| 6 | FYBR | Frontier Communications Pare | -1.4% | -70.70% | 減碼 |
| 7 | BIDU | Baidu Inc - Spon Adr | -1.6% | -44.98% | 減碼 |
| 8 | ELME | Elme Communities | -1.6% | -85.66% | 減碼 |
| 9 | ASX | Ase Technology Holding -adr | -1.8% | -12.13% | 減碼 |
| 10 | POH3 | Carnival Plc-adr | -6.9% | -91.69% | 減碼 |
| 11 | FOX | Fox CORP - Class B | -7.6% | +3.29% | 加碼 |
| 12 | VALE | Vale Sa-sp Adr | -8.9% | -95.26% | 減碼 |
| 13 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | — | NEW | 新建倉 |
| 14 | IBIT | Ishares Bitcoin Trust ETF | — | NEW | 新建倉 |
| 15 | GOOG | Alphabet Inc-cl C | — | EXIT | 清倉 |
| 16 | NSC | Norfolk Southern CORP | — | NEW | 新建倉 |
| 17 | HDB | Hdfc Bank Ltd-adr | — | EXIT | 清倉 |
| 18 | QQQ | Invesco Qqq Trust Series 1 | — | NEW | 新建倉 |
| 19 | ✓ | Cyberark Software LTD. Cmn | — | NEW | 新建倉 |
| 20 | QRVO | Qorvo Inc | — | NEW | 新建倉 |
| 21 | 07WA | Mr Cooper Group Inc | — | EXIT | 清倉 |
| 22 | GSK | Gsk Plc-spon Adr | — | NEW | 新建倉 |
| 23 | Z | Zillow Group Inc - C | — | NEW | 新建倉 |
| 24 | EXK | Exact Sciences CORP | — | NEW | 新建倉 |
| 25 | JD | Jd.com Inc-adr | — | NEW | 新建倉 |
| 26 | DEO | Diageo Plc-sponsored Adr | — | EXIT | 清倉 |
| 27 | VRSN | Verisign Inc | — | NEW | 新建倉 |
| 28 | RNAGBP | Avidity Biosciences Inc | — | NEW | 新建倉 |
| 29 | RNW | ReNew Energy Global Plc | — | NEW | 新建倉 |
| 30 | DAY | Dayforce Inc | — | NEW | 新建倉 |
| 31 | ✓ | Israel Acquisitions Corp | — | EXIT | 清倉 |
| 32 | PBR | Petroleo Brasileiro-spon Adr | — | NEW | 新建倉 |
| 33 | ETHA | Ishares Ethereum Trust ETF | — | NEW | 新建倉 |
| 34 | GTLS | Chart Industries Inc | — | NEW | 新建倉 |
| 35 | HO1 | Hologic Inc | — | NEW | 新建倉 |
| 36 | GRND | Grindr Inc | — | EXIT | 清倉 |
| 37 | KVUE | Kenvue Inc | — | NEW | 新建倉 |
| 38 | UTE0 | Cantaloupe Inc | — | NEW | 新建倉 |
| 39 | BIPC | Brookfield Infrastructure-a | — | EXIT | 清倉 |
| 40 | NIO | Nio Inc - Adr | — | NEW | 新建倉 |
| 41 | BTI | British American Tob-sp Adr | — | NEW | 新建倉 |
| 42 | JHG | Janus Henderson Group plc | — | NEW | 新建倉 |
| 43 | LI | Li Auto Inc - Adr | — | EXIT | 清倉 |
| 44 | NVDA | Nvidia CORP | — | NEW | 新建倉 |
| 45 | CWAN | Clearwater Analytics Holdings, Inc. | — | NEW | 新建倉 |
| 46 | EA | Electronic Arts Inc | — | NEW | 新建倉 |
| 47 | SHOP | Shopify Inc - Class A | — | EXIT | 清倉 |
| 48 | U | Unity Software Inc | — | EXIT | 清倉 |
| 49 | ✓ | Csg Systems International In | — | NEW | 新建倉 |
| 50 | HLN | Haleon Plc-adr | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，NINE MASTS CAPITAL Ltd 在 Q4 2025 季度的美股持倉總市值約為 US$9.9億，共申報了 118 個公開持股部位。
在 Q4 2025 季度，NINE MASTS CAPITAL Ltd 按市值排列的前三大核心持股分別為：BABA 0.5 06-01-31 (16.9%)、IBIT (16.1%)、SPY (12.2%)。其中最大持股部位 BABA 0.5 06-01-31 佔據整體投資組合約 16.9% 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
BABA 0.5 06-01-31
市值: US$9799.7萬
本季最大獲利了結 / 清倉標的
GOOG
前期市值: US$5262.8萬
在 Q4 2025 季度中，NINE MASTS CAPITAL Ltd 共進行了 50 項持倉異動，包含新建倉 27 個部位、加碼 3 個部位、減碼 9 個部位以及清倉 11 個部位。 其中最大新建倉標的為 BABA 0.5 06-01-31。 本季清倉部位包含 GOOG。
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。