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: 0001163653
申報總市值
US$853.6億
US$853.6億
1250 檔
40.5%
在 Q4 2025 申報期間，Nomura Holdings Inc（CIK: 0001163653）向美國 SEC 提交的 Form 13F 報告顯示，其追蹤之股票投資組合總市值達 US$853.6億，共持有 1250 個公開申報部位。
觀察 Q4 2025 的資金脈絡，Nomura Holdings Inc 在獲利結算 21 檔個股的同時，將資本重新部署至 12 檔新選標的，展現主動管理機構的輪動節奏。
在資產配置集中度方面，Nomura Holdings Inc 的前 5 大核心持股（包含 ECHO 3.875 11-30-30, META, NVDA 等）合計佔整體申報市值的 40.5%，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
ECHO 3.875 11-30-30
市值: US$192.3億
本季最大獲利了結 / 清倉標的
S9Q
前期市值: US$1.9億
僅顯示前 200 大持股（共 1250 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 | ECHO 3.875 11-30-30債券 | Echostar CORP | 債券 | 25.62% | -0.13% | — | |
| 2 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 6.01% | -6.70% | -24.60% | |
| 3 | NVDA | Nvidia CORP | 股票-科技 | 5.93% | -0.73% | +34.49% | |
| 4 | TSLA | Tesla Inc | 股票-循環性消費 | 4.30% | -0.20% | -50.32% | |
| 5 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 4.22% | +1.07% | -29.09% | |
| 6 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 3.69% | -0.43% | +690.68% | |
| 7 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 3.62% | +0.07% | -1.22% | |
| 8 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | 債券 | 2.59% | +1.46% | -4.32% | |
| 9 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 2.12% | -1.52% | -17.65% | |
| 10 | MSFT | Microsoft CORP | 股票-科技 | 1.91% | -1.39% | -21.53% | |
| 11 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 1.76% | -0.09% | -32.92% | |
| 12 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.15% | -0.25% | +5.22% | |
| 13 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.11% | +0.03% | -18.77% | |
| 14 | DLTR | Dollar Tree Inc | 股票-非循環性消費 | 0.95% | -1.33% | +52.55% | |
| 15 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.92% | -0.07% | +49.44% | |
| 16 | MU | Micron Technology Inc | 股票-科技 | 0.91% | +24.36% | +196.75% | |
| 17 | AAPL | Apple Inc | 股票-科技 | 0.89% | -1.35% | -61.34% | |
| 18 | HON | Honeywell International Inc | 股票-工業 | 0.88% | -3.04% | EXIT | |
| 19 | GLD | Spdr Gold Shares | ETF-避險與商品 | 0.79% | -1.05% | -38.26% | |
| 20 | AMD | Advanced Micro Devices | 股票-科技 | 0.70% | +1.22% | +13.78% | |
| 21 | AXP | American Express Co | 股票-金融 | 0.65% | -0.31% | +2.07% | |
| 22 | CRWV | Coreweave Inc-cl A | 股票-科技 | 0.58% | -0.39% | +141.56% | |
| 23 | COIN | Coinbase Global Inc -class A | 股票-金融 | 0.51% | +0.06% | -16.89% | |
| 24 | CTSH | Cognizant Tech Solutions-a | 股票-科技 | 0.49% | -0.70% | +74.39% | |
| 25 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投資等級債 | 0.44% | -0.93% | +927.50% | |
| 26 | DASH | Doordash Inc - A | 股票-循環性消費 | 0.44% | -0.26% | -34.28% | |
| 27 | KWEB | Kranesh Csi China Internet | ETF-新興市場 | 0.43% | -0.02% | +15.32% | |
| 28 | EEM | Ishares Msci Emerging Market | ETF-新興市場 | 0.41% | -0.33% | -51.34% | |
| 29 | AVGO | Broadcom Inc | 股票-科技 | 0.39% | -0.32% | -8.61% | |
| 30 | BABA | Alibaba Group Holding-sp Adr | 股票-循環性消費 | 0.39% | -0.08% | +213.63% | |
| 31 | FXI | Ishares China Large-cap ETF | ETF-新興市場 | 0.38% | +0.07% | -31.34% | |
| 32 | EWZ | Ishares Msci Brazil ETF | ETF-其他 | 0.38% | -0.37% | -1.20% | |
| 33 | ORCL | Oracle CORP | 股票-科技 | 0.34% | -0.04% | +285.86% | |
| 34 | WDC | Western Digital CORP | 股票-科技 | 0.33% | +0.01% | +3.65% | |
| 35 | HOOD | Robinhood Markets Inc - A | 股票-金融 | 0.33% | -0.14% | +56.93% | |
| 36 | SLV | Ishares Silver Trust | ETF-避險與商品 | 0.31% | -0.71% | +197.51% | |
| 37 | LUV | Southwest Airlines Co | 股票-工業 | 0.30% | -0.71% | +37.87% | |
| 38 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.30% | -0.15% | -54.85% | |
| 39 | XBI | Ss Spdr S&p Biotech ETF | ETF-科技型 | 0.30% | -0.03% | EXIT | |
| 40 | WULF | Terawulf Inc | 股票-金融 | 0.28% | +0.09% | +13.78% | |
| 41 | XHB | Ss Spdr S&p Homebldrs ETF | ETF-其他 | 0.27% | +0.03% | +2757.14% | |
| 42 | APLD | Applied Digital CORP | 股票-科技 | 0.26% | -0.17% | +38.58% | |
| 43 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.25% | +0.46% | -51.09% | |
| 44 | V | Visa Inc-class A Shares | 股票-金融 | 0.24% | -0.02% | -5.93% | |
| 45 | GPN | Global Payments Inc | 股票-工業 | 0.24% | -0.14% | +317.79% | |
| 46 | WBD | Warner Bros Discovery Inc | 股票-通訊服務 | 0.23% | -0.48% | +287.56% | |
| 47 | AAL | American Airlines Group Inc | 股票-工業 | 0.23% | -0.07% | -40.70% | |
| 48 | XLF | Ss Financial Select Sector | ETF-其他 | 0.23% | -0.05% | -38.31% | |
| 49 | IMO | Imperial Oil LTD | 股票-能源 | 0.23% | — | — | |
| 50 | BP | Bp Plc-spons Adr | 股票-能源 | 0.23% | +0.04% | -9.80% |
| # | 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 | +3.2% | +690.68% | 加碼 |
| 2 | NVDA | Nvidia CORP | +0.8% | +34.49% | 加碼 |
| 3 | MU | Micron Technology Inc | +0.7% | +196.75% | 加碼 |
| 4 | DLTR | Dollar Tree Inc | +0.4% | +52.55% | 加碼 |
| 5 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | +0.4% | +927.50% | 加碼 |
| 6 | GOOGL | Alphabet Inc-cl A | +0.3% | -1.22% | 減碼 |
| 7 | XHB | Ss Spdr S&p Homebldrs ETF | +0.3% | +2757.14% | 加碼 |
| 8 | CTSH | Cognizant Tech Solutions-a | +0.2% | +74.39% | 加碼 |
| 9 | SLV | Ishares Silver Trust | +0.2% | +197.51% | 加碼 |
| 10 | BABA | Alibaba Group Holding-sp Adr | +0.2% | +213.63% | 加碼 |
| 11 | ORCL | Oracle CORP | +0.2% | +285.86% | 加碼 |
| 12 | PLTR | Palantir Technologies Inc-a | +0.2% | +49.44% | 加碼 |
| 13 | XBI | Ss Spdr S&p Biotech ETF | +0.2% | +167.53% | 加碼 |
| 14 | WBD | Warner Bros Discovery Inc | +0.2% | +287.56% | 加碼 |
| 15 | SNPS | Synopsys Inc | +0.2% | +512.89% | 加碼 |
| 16 | FFIV | F5 Inc | +0.2% | +10456.82% | 加碼 |
| 17 | AMD | Advanced Micro Devices | +0.2% | +13.78% | 加碼 |
| 18 | GPN | Global Payments Inc | +0.2% | +317.79% | 加碼 |
| 19 | RBLX | Roblox CORP -class A | +0.2% | +863.33% | 加碼 |
| 20 | LULU | Lululemon Athletica Inc | +0.1% | +414.98% | 加碼 |
| 21 | TXN | Texas Instruments Inc | +0.1% | +254.94% | 加碼 |
| 22 | SYF | Synchrony Financial | +0.1% | +350.70% | 加碼 |
| 23 | CSGP | Costar Group Inc | +0.1% | +10869.93% | 加碼 |
| 24 | LUV | Southwest Airlines Co | +0.1% | +37.87% | 加碼 |
| 25 | COF | Capital One Financial CORP | +0.1% | +413.63% | 加碼 |
| 26 | COHR | Coherent CORP | +0.1% | +167.17% | 加碼 |
| 27 | B | Barrick Mining CORP | +0.1% | +120.95% | 加碼 |
| 28 | PH | Parker Hannifin CORP | +0.1% | +2380.65% | 加碼 |
| 29 | MA | Mastercard Inc - A | +0.1% | +85.47% | 加碼 |
| 30 | RIOT | Riot Platforms Inc | +0.1% | +484.94% | 加碼 |
| 31 | VERX | Vertex Inc - Class A | +0.1% | +31728.94% | 加碼 |
| 32 | WDC | Western Digital CORP | +0.1% | +3.65% | 加碼 |
| 33 | DAR | Darling Ingredients Inc | +0.1% | +3365.59% | 加碼 |
| 34 | APLD | Applied Digital CORP | +0.1% | +38.58% | 加碼 |
| 35 | CCL1EUR | Carnival CORP LTD | +0.1% | +84.44% | 加碼 |
| 36 | OKLO | Oklo Inc | +0.1% | +204.88% | 加碼 |
| 37 | IREN | IREN Limited | +0.1% | +607.07% | 加碼 |
| 38 | CRWV | Coreweave Inc-cl A | +0.1% | +141.56% | 加碼 |
| 39 | NCLH | Norwegian Cruise Line Holdings Ltd. | +0.1% | +1364.05% | 加碼 |
| 40 | ECHO | Echostar Corp-a | +0.1% | +56.64% | 加碼 |
| 41 | HD | Home Depot Inc | +0.1% | +111.63% | 加碼 |
| 42 | VG | Venture Global Inc-cl A | +0.1% | +1940.79% | 加碼 |
| 43 | FSLR | First Solar Inc | +0.1% | +1397.42% | 加碼 |
| 44 | APD | Air Products & Chemicals Inc | +0.1% | +1429.45% | 加碼 |
| 45 | KVUE | Kenvue Inc | +0.1% | +209.47% | 加碼 |
| 46 | JMIA | Jumia Technologies Ag-adr | 0% | +595.99% | 加碼 |
| 47 | THC | Tenet Healthcare CORP | 0% | +107.58% | 加碼 |
| 48 | LITE | Lumentum Holdings Inc | 0% | +33.47% | 加碼 |
| 49 | PDD | Pdd Holdings Inc | 0% | +276.84% | 加碼 |
| 50 | TEVA | Teva Pharmaceutical-sp Adr | 0% | +55.17% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Nomura Holdings Inc 在 Q4 2025 季度的美股持倉總市值約為 US$853.6億，共申報了 1250 個公開持股部位。
在 Q4 2025 季度，Nomura Holdings Inc 按市值排列的前三大核心持股分別為：ECHO 3.875 11-30-30 (25.6%)、META (6.0%)、NVDA (5.9%)。其中最大持股部位 ECHO 3.875 11-30-30 佔據整體投資組合約 25.6% 的權重。
在 Q4 2025 季度中，Nomura Holdings Inc 共進行了 199 項持倉異動，包含新建倉 12 個部位、加碼 87 個部位、減碼 79 個部位以及清倉 21 個部位。 其中最大新建倉標的為 ECHO 3.875 11-30-30。 本季清倉部位包含 S9Q。
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。