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: 0001103882
申報總市值
US$13.6億
US$13.6億
117 檔
26.9%
截至 Q1 2025 季度末，Paloma Partners Management Co 的美股持倉估值約為 US$13.6億，全數申報部位共有 117 檔。
Paloma Partners Management Co 在 Q1 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 174 檔，反映機構對當前市場環境或個別公司估值採取較為保留之看法。
檢視投資組合結構，前 5 大主力部位（包含 SPY, HYG, SSRMCN 2.5 04-01-39）占據了總市值的 26.9%，展現出該機構在 Q1 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 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 24.11% | +39.57% | NEW | |
| 2 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投資等級債 | 6.10% | — | +181.01% | |
| 3 | SSRMCN 2.5 04-01-39債券 | Ssr Mining Inc | 債券 | 5.67% | — | -0.90% | |
| 4 | NIO 4.625 10-15-30債券 | Nio Inc | 債券 | 4.78% | -0.80% | EXIT | |
| 5 | ZTO 1.5 09-01-27債券 | Zto Express Ky Inc | 債券 | 4.75% | — | -11.95% | |
| 6 | WOLF 1.75 05-01-26債券 | Wolfspeed Inc | 債券 | 2.95% | — | -53.28% | |
| 7 | LYV 3.125 01-15-29債券 | Live Nation Entertainmen | 債券 | 2.59% | — | -35.10% | |
| 8 | ALGM | Allegro Microsystems Inc | 股票-其他 | 2.20% | — | -66.30% | |
| 9 | NOG 3.625 04-15-29債券 | Northern Oil & Gas Inc | 債券 | 1.99% | — | -40.62% | |
| 10 | TXN | Texas Instruments Inc | 股票-科技 | 1.80% | — | — | |
| 11 | TLT | Ishares 20+ Year Treasury Bd | ETF-政府公債 | 1.76% | -2.55% | EXIT | |
| 12 | AKAM 1.125 02-15-29債券 | Akamai Technologies Inc | 債券 | 1.69% | — | — | |
| 13 | DBX 0 03-01-28債券 | Dropbox Inc | 債券 | 1.65% | — | +3275.00% | |
| 14 | INTC | Intel CORP | 股票-科技 | 1.54% | -1.30% | EXIT | |
| 15 | ✓ | Bitdeer Technologies Group | 股票-其他 | 1.50% | +10.27% | +673.40% | |
| 16 | CRM | Salesforce Inc | 股票-科技 | 1.50% | — | -49.43% | |
| 17 | GES 3.75 04-15-28債券 | Guess Inc | 債券 | 1.49% | — | -31.93% | |
| 18 | AVGO | Broadcom Inc | 股票-科技 | 1.27% | -1.34% | EXIT | |
| 19 | SNOW | Snowflake Inc | 股票-科技 | 1.26% | — | -68.48% | |
| 20 | LSCC | Lattice Semiconductor CORP | 股票-科技 | 1.17% | — | +200.00% | |
| 21 | FLR 1.125 08-15-29債券 | Fluor CORP | 債券 | 1.12% | — | — | |
| 22 | IREN | IREN Limited | 股票-其他 | 1.06% | — | +159.73% | |
| 23 | NXPI | NXP Semiconductors N.V. | 股票-科技 | 0.97% | — | — | |
| 24 | BSY 0.375 07-01-27債券 | Bentley Systems | 債券 | 0.90% | — | — | |
| 25 | ADBE | Adobe Inc | 股票-科技 | 0.90% | — | -59.28% | |
| 26 | UNIT | Uniti Group Inc. | 股票-其他 | 0.84% | — | +4.96% | |
| 27 | WDAY | Workday Inc-class A | 股票-科技 | 0.83% | — | -52.04% | |
| 28 | OPTU | Optimum Communications Inc-a | 股票-通訊服務 | 0.80% | -0.60% | EXIT | |
| 29 | ORCL | Oracle CORP | 股票-科技 | 0.80% | — | +1441.40% | |
| 30 | VEA | Vanguard Ftse Developed ETF | ETF-其他 | 0.80% | — | — | |
| 31 | OKTA | Okta Inc | 股票-科技 | 0.76% | — | -73.90% | |
| 32 | CORZ | Core Scientific Inc | 股票-科技 | 0.76% | — | — | |
| 33 | TEAM | Atlassian Corp-cl A | 股票-科技 | 0.72% | — | +1022.27% | |
| 34 | MBLY | Mobileye Global Inc-a | 股票-其他 | 0.71% | — | -70.68% | |
| 35 | VOO | Vanguard S&P 500 ETF | ETF-大型股與成長 | 0.69% | — | — | |
| 36 | LITE | Lumentum Holdings Inc | 股票-科技 | 0.66% | — | — | |
| 37 | DKNG | Draftkings Inc-cl A | 股票-循環性消費 | 0.65% | — | -86.29% | |
| 38 | COHR | Coherent CORP | 股票-科技 | 0.63% | — | +243.48% | |
| 39 | CSWC 5.125 11-15-29債券 | Capital Southwest CORP | 債券 | 0.61% | — | -66.10% | |
| 40 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 0.59% | — | -79.61% | |
| 41 | WCC | Wesco International Inc | 股票-工業 | 0.55% | — | -4.17% | |
| 42 | XRX 3.75 03-15-30債券 | Xerox Holdings CORP | 債券 | 0.43% | — | — | |
| 43 | DAR | Darling Ingredients Inc | 股票-非循環性消費 | 0.42% | — | -91.57% | |
| 44 | RIG | Transocean Ltd. | 股票-能源 | 0.42% | — | — | |
| 45 | TECK | Teck Resources Ltd-cls B | 股票-原物料 | 0.42% | — | -94.76% | |
| 46 | TBT | Proshares Ultrashort 20+y Tr | ETF-其他 | 0.42% | — | — | |
| 47 | ABNB 0 03-15-26債券 | Airbnb Inc | 債券 | 0.41% | — | — | |
| 48 | NIO 3.875 10-15-29債券 | Nio Inc | 債券 | 0.37% | — | -77.55% | |
| 49 | AA | Alcoa CORP | 股票-原物料 | 0.36% | — | -95.49% | |
| 50 | ON | On Semiconductor | 股票-科技 | 0.35% | — | -41.67% |
| # | 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 | +18.8% | -56.60% | 減碼 |
| 2 | WOLF 1.75 05-01-26債券 | Wolfspeed Inc | +2.4% | -53.28% | 加碼 |
| 3 | ALGM | Allegro Microsystems Inc | +2.2% | -66.30% | 加碼 |
| 4 | TXN | Texas Instruments Inc | +1.7% | — | 加碼 |
| 5 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | +1.7% | +181.01% | 減碼 |
| 6 | INTC | Intel CORP | +1.5% | -84.05% | 加碼 |
| 7 | SNOW | Snowflake Inc | +1.3% | -68.48% | 加碼 |
| 8 | AVGO | Broadcom Inc | +1.2% | — | 加碼 |
| 9 | LSCC | Lattice Semiconductor CORP | +1.2% | +200.00% | 加碼 |
| 10 | NXPI | NXP Semiconductors N.V. | +1% | — | 加碼 |
| 11 | CRM | Salesforce Inc | +0.9% | -49.43% | 減碼 |
| 12 | WDAY | Workday Inc-class A | +0.5% | -52.04% | 減碼 |
| 13 | TSLA | Tesla Inc | 0% | — | 減碼 |
| 14 | QQQ | Invesco Qqq Trust Series 1 | -0.1% | -98.73% | 減碼 |
| 15 | VRTX | Vertex Pharmaceuticals Inc | -0.1% | — | 減碼 |
| 16 | AMD | Advanced Micro Devices | -0.1% | -47.06% | 減碼 |
| 17 | REGN | Regeneron Pharmaceuticals | -0.1% | — | 減碼 |
| 18 | GM | General Motors Co | -0.1% | — | 減碼 |
| 19 | TTWO | Take-two Interactive Softwre | -0.1% | +45.88% | 減碼 |
| 20 | XLI | Ss Industrial Select Sector | -0.2% | +23.25% | 減碼 |
| 21 | FXI | Ishares China Large-cap ETF | -0.2% | -98.57% | 減碼 |
| 22 | IWM | Ishares Russell 2000 ETF | -0.3% | -91.60% | 減碼 |
| 23 | WMT | Walmart Inc | -0.5% | — | 減碼 |
| 24 | XLU | St Sr Utl Sl Se Spdr Etf-usd | -0.6% | -77.41% | 減碼 |
| 25 | BILI 1.25 06-15-27債券 | Bilibili Inc | — | EXIT | 清倉 |
| 26 | Z 0.75 09-01-24債券 | Zillow Group Inc | — | EXIT | 清倉 |
| 27 | MCHP 1.625 02-15-27債券 | Microchip Technology Inc | — | EXIT | 清倉 |
| 28 | XYZ 0.125 03-01-25債券 | Block Inc | — | EXIT | 清倉 |
| 29 | Z 1.375 09-01-26債券 | Zillow Group Inc | — | EXIT | 清倉 |
| 30 | SEALTD 2.375 12-01-25債券 | Sea LTD | — | EXIT | 清倉 |
| 31 | ZEN 0.625 06-15-25債券 | Zendesk Inc | — | EXIT | 清倉 |
| 32 | LUV 1.25 05-01-25債券 | Southwest Airlines Co | — | EXIT | 清倉 |
| 33 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | — | EXIT | 清倉 |
| 34 | W 1 08-15-26債券 | Wayfair Inc | — | EXIT | 清倉 |
| 35 | PANW 0.375 06-01-25債券 | Palo Alto Networks | — | EXIT | 清倉 |
| 36 | LTHM 4.125 07-15-25債券 | Livent CORP | — | EXIT | 清倉 |
| 37 | ETSY 0.125 10-01-26債券 | Etsy Inc | — | EXIT | 清倉 |
| 38 | MDB 0.25 01-15-26債券 | Mongodb Inc | — | EXIT | 清倉 |
| 39 | OKTA 0.125 09-01-25債券 | Okta Inc | — | EXIT | 清倉 |
| 40 | IYR | Ishares US Real Estate ETF | — | EXIT | 清倉 |
| 41 | SSRMCN 2.5 04-01-39債券 | Ssr Mining Inc | — | NEW | 新建倉 |
| 42 | PODD 0.375 09-01-26債券 | Insulet Corporation | — | EXIT | 清倉 |
| 43 | LOW | Lowe's Cos Inc | — | EXIT | 清倉 |
| 44 | NIO 4.625 10-15-30債券 | Nio Inc | — | NEW | 新建倉 |
| 45 | ZTO 1.5 09-01-27債券 | Zto Express Ky Inc | — | NEW | 新建倉 |
| 46 | VZ | Verizon Communications Inc | — | EXIT | 清倉 |
| 47 | NSC | Norfolk Southern CORP | — | EXIT | 清倉 |
| 48 | BRK-B | Berkshire Hathaway Inc-cl B | — | EXIT | 清倉 |
| 49 | LVS | Las Vegas Sands CORP | — | EXIT | 清倉 |
| 50 | XYZ | Block Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Paloma Partners Management Co 在 Q1 2025 季度的美股持倉總市值約為 US$13.6億，共申報了 117 個公開持股部位。
在 Q1 2025 季度，Paloma Partners Management Co 按市值排列的前三大核心持股分別為：SPY (24.1%)、HYG (6.1%)、SSRMCN 2.5 04-01-39 (5.7%)。其中最大持股部位 SPY 佔據整體投資組合約 24.1% 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
SSRMCN 2.5 04-01-39
市值: US$4589.0萬
本季最大獲利了結 / 清倉標的
BILI 1.25 06-15-27
前期市值: US$2.1億
在 Q1 2025 季度中，Paloma Partners Management Co 共進行了 200 項持倉異動，包含新建倉 18 個部位、加碼 8 個部位、減碼 16 個部位以及清倉 158 個部位。 其中最大新建倉標的為 SSRMCN 2.5 04-01-39。 本季清倉部位包含 BILI 1.25 06-15-27。
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。