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: 0002038506
申報總市值
US$1.3億
US$1.3億
72 檔
30.4%
截至 Q3 2025 季度末，Paragon Capital Management Inc 的美股持倉估值約為 US$1.3億，全數申報部位共有 72 檔。
在 Q3 2025，Paragon Capital Management Inc 展現出較為審慎的避險與獲利了結姿態。本季共減碼 38 個部位並完全清倉 1 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 IEF, SHV, BIL）占據了總市值的 30.4%，展現出該機構在 Q3 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 | IEF | Ishares 7-10 Year Treasury B | ETF-政府公債 | 8.74% | -1.32% | +2.14% | |
| 2 | SHV | Ishares 0-1 Year Treasury Bo | ETF-政府公債 | 8.40% | -1.01% | -2.67% | |
| 3 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-政府公債 | 5.78% | -0.73% | +7.84% | |
| 4 | JAAA | Janus Henderson Aaa Clo ETF | ETF-其他 | 4.45% | -0.61% | +4.67% | |
| 5 | GOVT | Ishares US Treasury Bond ETF | ETF-政府公債 | 3.30% | -0.44% | +3.19% | |
| 6 | TOTL | Ss Doubleline Tr Tact ETF | ETF-其他 | 2.99% | -0.32% | +2.35% | |
| 7 | DIA | Ss Spdr Dow Jones Indus Avg | ETF-大型股與成長 | 2.56% | -0.08% | -5.12% | |
| 8 | VB | Vanguard Small-cap ETF | ETF-其他 | 2.45% | -0.02% | -4.41% | |
| 9 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.17% | +0.26% | -3.61% | |
| 10 | ORLY | O'reilly Automotive Inc | 股票-循環性消費 | 2.15% | -0.20% | -2.83% | |
| 11 | MELI | Mercadolibre Inc | 股票-循環性消費 | 1.95% | -0.26% | -4.61% | |
| 12 | STOT | Ss Dl St Dur Tr Tact ETF | ETF-其他 | 1.92% | -0.12% | +4.13% | |
| 13 | LYFT | Lyft Inc-a | 股票-科技 | 1.76% | -0.90% | EXIT | |
| 14 | IDXX | Idexx Laboratories Inc | 股票-醫療保健 | 1.66% | -0.21% | -4.91% | |
| 15 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 1.66% | +1.07% | NEW | |
| 16 | DINO | Hf Sinclair CORP | 股票-能源 | 1.58% | — | -4.52% | |
| 17 | UBER | Uber Technologies Inc | 股票-工業 | 1.51% | -0.15% | -4.51% | |
| 18 | NU | Nu Holdings Ltd. | 股票-金融 | 1.47% | — | -4.26% | |
| 19 | AZO | Autozone Inc | 股票-循環性消費 | 1.47% | -0.21% | -3.17% | |
| 20 | EME | Emcor Group Inc | 股票-工業 | 1.46% | — | -5.55% | |
| 21 | FSLR | First Solar Inc | 股票-科技 | 1.46% | — | -4.39% | |
| 22 | VLO | Valero Energy CORP | 股票-能源 | 1.39% | — | -3.91% | |
| 23 | EXEL | Exelixis Inc | 股票-醫療保健 | 1.36% | — | -4.22% | |
| 24 | TRV | Travelers Cos Inc/the | 股票-金融 | 1.32% | — | -3.86% | |
| 25 | RPRX | Royalty Pharma plc | 股票-醫療保健 | 1.30% | — | -4.12% | |
| 26 | DASH | Doordash Inc - A | 股票-循環性消費 | 1.26% | +0.05% | -3.23% | |
| 27 | UHS | Universal Health Services-b | 股票-醫療保健 | 1.20% | -0.30% | -3.57% | |
| 28 | XLV | Ss Health Care Select Sector | ETF-其他 | 1.09% | -0.09% | +3.48% | |
| 29 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.08% | — | -3.66% | |
| 30 | PGR | Progressive CORP | 股票-金融 | 1.08% | -1.10% | EXIT | |
| 31 | NVR | Nvr Inc | 股票-循環性消費 | 1.08% | -0.91% | EXIT | |
| 32 | NFLX | Netflix Inc | 股票-通訊服務 | 1.07% | -0.40% | -3.47% | |
| 33 | TTWO | Take-two Interactive Softwre | 股票-通訊服務 | 1.07% | — | -2.65% | |
| 34 | TDG | Transdigm Group Inc | 股票-工業 | 1.07% | -0.01% | -2.77% | |
| 35 | VTI | Vanguard Total Stock Mkt ETF | ETF-其他 | 1.06% | -0.32% | -31.59% | |
| 36 | GAP | Gap Inc/the | 股票-循環性消費 | 1.05% | — | -3.69% | |
| 37 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.03% | — | -2.30% | |
| 38 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 1.00% | — | -1.98% | |
| 39 | TYL | Tyler Technologies Inc | 股票-科技 | 0.97% | -0.90% | EXIT | |
| 40 | EEFT | Euronet Worldwide Inc | 股票-科技 | 0.93% | -0.05% | -3.33% | |
| 41 | MTD | Mettler-toledo International | 股票-醫療保健 | 0.92% | -0.14% | -3.19% | |
| 42 | REGN | Regeneron Pharmaceuticals | 股票-醫療保健 | 0.91% | — | -2.13% | |
| 43 | AMZN | Amazon.com Inc | 股票-循環性消費 | 0.89% | — | -1.82% | |
| 44 | CROX | Crocs Inc | 股票-循環性消費 | 0.89% | — | -3.08% | |
| 45 | STXF | Strive 500 ETF | ETF-其他 | 0.88% | +0.02% | -1.89% | |
| 46 | CHRD | Chord Energy CORP | 股票-能源 | 0.87% | -0.52% | -3.11% | |
| 47 | DSL | Doubleline Income Solutions | 股票-其他 | 0.83% | -0.08% | +2.05% | |
| 48 | TLT | Ishares 20+ Year Treasury Bd | ETF-政府公債 | 0.80% | -0.10% | +7.11% | |
| 49 | DXC | Dxc Technology Co | 股票-科技 | 0.78% | — | -3.22% | |
| 50 | CRWD | Crowdstrike Holdings Inc - A | 股票-科技 | 0.74% | — | -1.99% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | LYFT | Lyft Inc-a | +0.7% | -5.73% | 減碼 |
| 2 | FSLR | First Solar Inc | +0.5% | -4.39% | 減碼 |
| 3 | EME | Emcor Group Inc | +0.5% | -5.55% | 減碼 |
| 4 | DINO | Hf Sinclair CORP | +0.5% | -4.52% | 減碼 |
| 5 | IDXX | Idexx Laboratories Inc | +0.4% | -4.91% | 減碼 |
| 6 | NU | Nu Holdings Ltd. | +0.4% | -4.26% | 減碼 |
| 7 | APP | Applovin Corp-class A | +0.4% | -2.44% | 減碼 |
| 8 | PLTR | Palantir Technologies Inc-a | +0.3% | -3.04% | 減碼 |
| 9 | AVGO | Broadcom Inc | +0.3% | -2.95% | 減碼 |
| 10 | DASH | Doordash Inc - A | +0.3% | -3.23% | 減碼 |
| 11 | GOOGL | Alphabet Inc-cl A | +0.3% | -2.30% | 減碼 |
| 12 | META | Meta Platforms Inc-class A | +0.2% | -3.61% | 減碼 |
| 13 | UBER | Uber Technologies Inc | +0.2% | -4.51% | 減碼 |
| 14 | TSLA | Tesla Inc | +0.2% | -2.26% | 減碼 |
| 15 | VLO | Valero Energy CORP | +0.2% | -3.91% | 減碼 |
| 16 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | -1.99% | 減碼 |
| 17 | NFLX | Netflix Inc | +0.1% | -3.47% | 減碼 |
| 18 | AXON | Axon Enterprise Inc | +0.1% | -1.94% | 減碼 |
| 19 | ONEQ | Fidelity Nasdaq Comp Indx | +0.1% | -2.98% | 減碼 |
| 20 | TTWO | Take-two Interactive Softwre | +0.1% | -2.65% | 減碼 |
| 21 | VTI | Vanguard Total Stock Mkt ETF | +0.1% | -31.59% | 不變 |
| 22 | STXK | Strive Small-cap ETF | +0.1% | +3.99% | 加碼 |
| 23 | BKNG | Booking Holdings Inc | +0.1% | -2.15% | 減碼 |
| 24 | STXF | Strive 500 ETF | +0.1% | -1.89% | 減碼 |
| 25 | MELI | Mercadolibre Inc | 0% | -4.61% | 減碼 |
| 26 | AMZN | Amazon.com Inc | 0% | -1.82% | 減碼 |
| 27 | BIL | Ss Spdr Bb 1-3m T-bill ETF | 0% | +7.84% | 加碼 |
| 28 | VB | Vanguard Small-cap ETF | — | -4.41% | 減碼 |
| 29 | ORLY | O'reilly Automotive Inc | 0% | -2.83% | 加碼 |
| 30 | AZO | Autozone Inc | 0% | -3.17% | 減碼 |
| 31 | RC | Ready Capital CORP | -0.1% | — | 不變 |
| 32 | JAAA | Janus Henderson Aaa Clo ETF | -0.2% | +4.67% | 加碼 |
| 33 | ISRG | Intuitive Surgical Inc | -0.2% | -1.20% | 減碼 |
| 34 | GOVT | Ishares US Treasury Bond ETF | -0.2% | +3.19% | 加碼 |
| 35 | TEAM | Atlassian Corp-cl A | -0.2% | -1.02% | 減碼 |
| 36 | LULU | Lululemon Athletica Inc | -0.2% | +0.13% | 加碼 |
| 37 | TDG | Transdigm Group Inc | -0.2% | -2.77% | 減碼 |
| 38 | REGN | Regeneron Pharmaceuticals | -0.2% | -2.13% | 減碼 |
| 39 | MRK | Merck & Co. Inc. | -0.2% | -3.66% | 減碼 |
| 40 | CHRD | Chord Energy CORP | -0.2% | -3.11% | 減碼 |
| 41 | TYL | Tyler Technologies Inc | -0.2% | -2.26% | 減碼 |
| 42 | DXC | Dxc Technology Co | -0.3% | -3.22% | 減碼 |
| 43 | PGR | Progressive CORP | -0.3% | -3.55% | 減碼 |
| 44 | EEFT | Euronet Worldwide Inc | -0.4% | -3.33% | 減碼 |
| 45 | IEF | Ishares 7-10 Year Treasury B | -0.4% | +2.14% | 加碼 |
| 46 | CROX | Crocs Inc | -0.4% | -3.08% | 減碼 |
| 47 | VSTS | Vestis CORP | -0.5% | -0.33% | 加碼 |
| 48 | SHV | Ishares 0-1 Year Treasury Bo | -1% | -2.67% | 減碼 |
| 49 | INTC | Intel CORP | — | NEW | 新建倉 |
| 50 | XLP | Ss Consumer Staples Sel Sect | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Paragon Capital Management Inc 在 Q3 2025 季度的美股持倉總市值約為 US$1.3億，共申報了 72 個公開持股部位。
在 Q3 2025 季度，Paragon Capital Management Inc 按市值排列的前三大核心持股分別為：IEF (8.7%)、SHV (8.4%)、BIL (5.8%)。其中最大持股部位 IEF 佔據整體投資組合約 8.7% 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
INTC
市值: US$24.9萬
本季最大獲利了結 / 清倉標的
XLP
前期市值: US$20.1萬
在 Q3 2025 季度中，Paragon Capital Management Inc 共進行了 48 項持倉異動，包含新建倉 1 個部位、加碼 8 個部位、減碼 38 個部位以及清倉 1 個部位。 其中最大新建倉標的為 INTC。 本季清倉部位包含 XLP。
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。