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: 0000949509
申報總市值
US$72.1億
US$72.1億
164 檔
32.5%
在 Q3 2025 申報期間，Oaktree Capital Management LP（CIK: 0000949509）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$72.1億，共持有 164 個公開申報部位。
觀察 Q3 2025 的資金脈絡，Oaktree Capital Management LP 在獲利結算 57 檔個股的同時，將資本重新部署至 56 檔新選標的，展現主動管理機構的輪動節奏。
從部位權重觀察，前 5 大標的（包含 TRMD, EXE, GTX）累計市值佔比達 32.5%，是驅動 Oaktree Capital Management LP 該季度整體投資組合績效表現的核心支柱。
本季最大新建倉標的
VNOM
市值: US$2.4億
本季最大獲利了結 / 清倉標的
SB9
前期市值: US$2.6億
| # | 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 | TRMD | TORM plc | 股票-其他 | 12.86% | -3.02% | — | |
| 2 | EXE | Expand Energy CORP | 股票-能源 | 8.29% | -2.14% | — | |
| 3 | GTX | Garrett Motion Inc | 股票-循環性消費 | 6.69% | -0.22% | -13.55% | |
| 4 | AU | AngloGold Ashanti plc | 股票-原物料 | 4.54% | -1.22% | -15.41% | |
| 5 | VNOM | Viper Energy Inc-cl A | 股票-能源 | 3.70% | -0.49% | — | |
| 6 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 3.39% | +14.04% | NEW | |
| 7 | TLN | Talen Energy CORP | 股票-公用事業 | 2.33% | -0.57% | +82.78% | |
| 8 | TDS | Telephone And Data Systems | 股票-通訊服務 | 2.23% | -0.05% | — | |
| 9 | ORCL | Oracle CORP | 股票-科技 | 2.17% | — | — | |
| 10 | STKL | Sunopta Inc | 股票-其他 | 1.87% | -2.04% | — | |
| 11 | CORZ | Core Scientific Inc | 股票-科技 | 1.77% | +0.62% | — | |
| 12 | B | Barrick Mining CORP | 股票-原物料 | 1.67% | — | +4.57% | |
| 13 | LBTYA | Liberty Global Ltd. | 股票-其他 | 1.51% | -0.23% | +4.13% | |
| 14 | FTAI | FTAI Aviation Ltd. | 股票-工業 | 1.50% | — | — | |
| 15 | CX | Cemex Sab-spons Adr Part Cer | 股票-其他 | 1.45% | -0.46% | -29.59% | |
| 16 | ITUB | Itau Unibanco H-spon Prf Adr | 股票-金融 | 1.43% | -0.20% | +15.10% | |
| 17 | CBL | Cbl & Associates Properties | 股票-其他 | 1.42% | -1.26% | EXIT | |
| 18 | NOK | Nokia Corp-spon Adr | 股票-科技 | 1.39% | -1.37% | EXIT | |
| 19 | TAC | Transalta CORP | 股票-其他 | 1.35% | -0.70% | +5.42% | |
| 20 | RWAY | Runway Growth Finance CORP | 股票-其他 | 1.30% | -0.19% | -15.34% | |
| 21 | KRC | Kilroy Realty CORP | 股票-房地產 | 1.20% | +0.16% | — | |
| 22 | GRAB | Grab Holdings Limited | 股票-科技 | 1.12% | — | +4.54% | |
| 23 | NU | Nu Holdings Ltd. | 股票-金融 | 1.11% | — | — | |
| 24 | JBLU 0.5 04-01-26債券 | Jetblue Airways CORP | 債券 | 1.03% | -1.45% | EXIT | |
| 25 | VIST | Vista Energy Sab De Cv | 股票-其他 | 0.98% | — | -10.68% | |
| 26 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 0.91% | -0.04% | -24.61% | |
| 27 | CABO 0 03-15-26債券 | Cable One Inc | 債券 | 0.88% | — | +13.38% | |
| 28 | LILA | Liberty Latin America Ltd. | 股票-其他 | 0.87% | +0.05% | +186.44% | |
| 29 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 0.82% | — | -8.33% | |
| 30 | YMM | Full Truck Alliance -spn Adr | 股票-其他 | 0.76% | — | +106.13% | |
| 31 | BLCO | Bausch + Lomb CORP | 股票-其他 | 0.75% | -0.03% | +28.72% | |
| 32 | ECHO | Echostar Corp-a | 股票-通訊服務 | 0.71% | — | — | |
| 33 | MAR | Marriott International -cl A | 股票-循環性消費 | 0.60% | — | — | |
| 34 | CNMD 2.25 06-15-27債券 | Conmed CORP | 債券 | 0.60% | +0.19% | +46.23% | |
| 35 | ABNB 0 03-15-26債券 | Airbnb Inc | 債券 | 0.59% | — | +8.41% | |
| 36 | BZ | Kanzhun LTD - Adr | 股票-其他 | 0.59% | — | +4.60% | |
| 37 | XPEV | XPeng Inc. | 股票-其他 | 0.59% | -0.22% | — | |
| 38 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | 債券 | 0.59% | +0.25% | +33.95% | |
| 39 | CRC | California Resources CORP | 股票-能源 | 0.57% | — | -49.56% | |
| 40 | SBLK | Star Bulk Carriers Corp. | 股票-其他 | 0.56% | — | -39.24% | |
| 41 | AD | Array Digital Infrastructure | 股票-其他 | 0.56% | -0.16% | — | |
| 42 | SEALTD 0.25 09-15-26債券 | Sea LTD | 債券 | 0.55% | +0.14% | +23.14% | |
| 43 | ETSY 0.25 06-15-28債券 | Etsy Inc | 債券 | 0.54% | +0.01% | +23.65% | |
| 44 | VAC 3.25 12-15-27債券 | Marriott Vacation Worldw | 債券 | 0.53% | +0.02% | +38.71% | |
| 45 | TX | Ternium Sa-sponsored Adr | 股票-其他 | 0.48% | -0.02% | -2.41% | |
| 46 | SRPT 1.25 09-15-27債券 | Sarepta Therapeutics Inc | 債券 | 0.47% | +0.09% | NEW | |
| 47 | NBR | Nabors Industries Ltd. | 股票-其他 | 0.46% | — | — | |
| 48 | INN 1.5 02-15-26債券 | Summit Hotel Properties | 債券 | 0.45% | — | -3.33% | |
| 49 | PEB 1.75 12-15-26債券 | Pebblebrook Hotel Trust | 債券 | 0.40% | +0.02% | -58.07% | |
| 50 | JD 0.25 06-01-29債券 | Jd.com Inc | 債券 | 0.40% | -0.06% | +92.85% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ITUB | Itau Unibanco H-spon Prf Adr | +0.7% | +15.10% | 加碼 |
| 2 | AU | AngloGold Ashanti plc | +0.6% | -15.41% | 減碼 |
| 3 | INN 1.5 02-15-26債券 | Summit Hotel Properties | +0.4% | -3.33% | 加碼 |
| 4 | TAC | Transalta CORP | +0.3% | +5.42% | 加碼 |
| 5 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | +0.3% | +33.95% | 加碼 |
| 6 | SRPT 1.25 09-15-27債券 | Sarepta Therapeutics Inc | +0.3% | +609.96% | 加碼 |
| 7 | CNMD 2.25 06-15-27債券 | Conmed CORP | +0.3% | +46.23% | 加碼 |
| 8 | ARRY 1 12-01-28債券 | Array Technologies Inc | +0.3% | +282.89% | 加碼 |
| 9 | VAC 3.25 12-15-27債券 | Marriott Vacation Worldw | +0.3% | +38.71% | 加碼 |
| 10 | JBLU 0.5 04-01-26債券 | Jetblue Airways CORP | +0.2% | +13.81% | 加碼 |
| 11 | ALRM 0 01-15-26債券 | Alarm.com Hldgs Inc | +0.2% | -0.76% | 加碼 |
| 12 | MGPI 1.875 11-15-41債券 | Mgp Ingredients Inc | +0.2% | — | 加碼 |
| 13 | OKTA 0.375 06-15-26債券 | Okta Inc | +0.2% | +263.02% | 加碼 |
| 14 | GRAB | Grab Holdings Limited | +0.2% | +4.54% | 加碼 |
| 15 | COIN 0.25 04-01-30債券 | Coinbase Global Inc | +0.2% | +64.81% | 加碼 |
| 16 | PSN 2.625 03-01-29債券 | Parsons CORP | +0.2% | +79.23% | 加碼 |
| 17 | ENPH 0 03-01-28債券 | Enphase Energy Inc | +0.2% | +93.98% | 加碼 |
| 18 | BZ | Kanzhun LTD - Adr | +0.2% | +4.60% | 加碼 |
| 19 | TTEK 2.25 08-15-28債券 | Tetra Tech Inc | +0.2% | +70.83% | 加碼 |
| 20 | SEALTD 0.25 09-15-26債券 | Sea LTD | +0.2% | +23.14% | 加碼 |
| 21 | ABNB 0 03-15-26債券 | Airbnb Inc | +0.1% | +8.41% | 加碼 |
| 22 | ETSY 0.25 06-15-28債券 | Etsy Inc | +0.1% | +23.65% | 加碼 |
| 23 | XYZ 0 05-01-26債券 | Block Inc | +0.1% | +1848.25% | 加碼 |
| 24 | CABO 0 03-15-26債券 | Cable One Inc | +0.1% | +13.38% | 加碼 |
| 25 | RGEN 1 12-15-28債券 | Repligen CORP | +0.1% | +52.21% | 加碼 |
| 26 | LI 0.25 05-01-28債券 | Li Auto Inc | +0.1% | +120.78% | 加碼 |
| 27 | FLR 1.125 08-15-29債券 | Fluor CORP | +0.1% | +108.96% | 加碼 |
| 28 | NVST 1.75 08-15-28債券 | Envista Holdings CORP | +0.1% | +14.35% | 加碼 |
| 29 | CMS 3.375 05-01-28債券 | Cms Energy CORP | +0.1% | +57.42% | 加碼 |
| 30 | HAE 0 03-01-26債券 | Haemonetics CORP | +0.1% | +105.06% | 加碼 |
| 31 | RDFN 0.5 04-01-27債券 | Redfin CORP | +0.1% | +15.59% | 加碼 |
| 32 | RWT 7.75 06-15-27債券 | Redwood Trust Inc | +0.1% | +45.20% | 加碼 |
| 33 | BAND 0.5 04-01-28債券 | Bandwidth Inc | +0.1% | +100.65% | 加碼 |
| 34 | MGNI 0.25 03-15-26債券 | Magnite Inc | +0.1% | — | 加碼 |
| 35 | TRMD | TORM plc | 0% | — | 不變 |
| 36 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | 0% | +38.24% | 加碼 |
| 37 | CRNC 1.5 07-01-28債券 | Cerence Inc | 0% | -16.53% | 加碼 |
| 38 | KRC | Kilroy Realty CORP | 0% | — | 不變 |
| 39 | GH 1.25 02-15-31債券 | Guardant Health Inc | 0% | +28.46% | 加碼 |
| 40 | UPWK 0.25 08-15-26債券 | Upwork Inc | 0% | -27.10% | 加碼 |
| 41 | GES 3.75 04-15-28債券 | Guess Inc | 0% | -26.45% | 加碼 |
| 42 | AGCN 0.375 01-15-27債券 | First Majestic Silver | 0% | -12.00% | 加碼 |
| 43 | TVTX 2.25 03-01-29債券 | Travere Therapeutics Inc | 0% | +19.02% | 加碼 |
| 44 | ESPR 4 11-15-25債券 | Esperion Therapeutics | 0% | +44.50% | 加碼 |
| 45 | TLN | Talen Energy CORP | 0% | +82.78% | 減碼 |
| 46 | BBIO 2.5 03-15-27債券 | Bridgebio Pharma Inc | 0% | -11.90% | 加碼 |
| 47 | TX | Ternium Sa-sponsored Adr | 0% | -2.41% | 加碼 |
| 48 | ENPH 0 03-01-26債券 | Enphase Energy Inc | 0% | -44.43% | 加碼 |
| 49 | UPST 0.25 08-15-26債券 | Upstart Holdings Inc | 0% | -3.85% | 加碼 |
| 50 | FOUR 0.5 08-01-27債券 | Shift4 Payments Inc | 0% | +22.09% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Oaktree Capital Management LP 在 Q3 2025 季度的美股持倉總市值約為 US$72.1億，共申報了 164 個公開持股部位。
在 Q3 2025 季度，Oaktree Capital Management LP 按市值排列的前三大核心持股分別為：TRMD (12.9%)、EXE (8.3%)、GTX (6.7%)。其中最大持股部位 TRMD 佔據整體投資組合約 12.9% 的權重。
在 Q3 2025 季度中，Oaktree Capital Management LP 共進行了 192 項持倉異動，包含新建倉 56 個部位、加碼 50 個部位、減碼 29 個部位以及清倉 57 個部位。 其中最大新建倉標的為 VNOM。 本季清倉部位包含 SB9。
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。
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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。