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: 0001316926
申報總市值
US$10.6億
US$10.6億
89 檔
30.3%
根據最新整理的 13F 季度數據集，Polaris Capital Management, LLC 於 Q4 2025 結束時的管理資產規模為 US$10.6億。該機構在本季度申報了 89 檔美股持倉，呈現出該時期的主要投資地圖。
Polaris Capital Management, LLC 在 Q4 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 45 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。
整體而言，Polaris Capital Management, LLC 的前 5 大持股（包含 BPOP, JAZZ, LIN）貢獻了組合市值的 30.3%，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 | BPOP | Popular Inc | 股票-金融 | 7.05% | +1.07% | -23.03% | |
| 2 | JAZZ | Jazz Pharmaceuticals plc | 股票-醫療保健 | 6.10% | +1.05% | -15.78% | |
| 3 | LIN | Linde plc | 股票-原物料 | 4.74% | -0.17% | -20.48% | |
| 4 | SW | Smurfit Westrock Plc | 股票-循環性消費 | 4.64% | +2.67% | -16.93% | |
| 5 | UTHR | United Therapeutics CORP | 股票-醫療保健 | 4.19% | -1.96% | -15.08% | |
| 6 | MKSI | Mks Inc | 股票-科技 | 3.51% | -2.53% | EXIT | |
| 7 | CVS | Cvs Health CORP | 股票-醫療保健 | 3.46% | +0.52% | -12.83% | |
| 8 | JPM | Jpmorgan Chase & Co | 股票-金融 | 3.13% | -0.05% | -14.07% | |
| 9 | LNTH | Lantheus Holdings Inc | 股票-醫療保健 | 2.97% | +0.61% | -15.58% | |
| 10 | SLM | Slm CORP | 股票-金融 | 2.80% | +0.13% | -11.74% | |
| 11 | ARW | Arrow Electronics Inc | 股票-科技 | 2.70% | +0.57% | -12.32% | |
| 12 | GILD | Gilead Sciences Inc | 股票-醫療保健 | 2.70% | -1.06% | -15.14% | |
| 13 | WBS | Webster Financial CORP | 股票-金融 | 2.70% | -0.81% | -14.97% | |
| 14 | IBOC | International Bancshares Crp | 股票-其他 | 2.63% | -0.25% | -12.58% | |
| 15 | GD | General Dynamics CORP | 股票-工業 | 2.50% | -0.78% | -13.87% | |
| 16 | NOMD | Nomad Foods Limited | 股票-其他 | 2.42% | +0.19% | -32.32% | |
| 17 | CB | Chubb Limited | 股票-金融 | 2.36% | -0.54% | -13.99% | |
| 18 | ✓ | 股票-其他 | 2.31% | — | -15.83% | ||
| 19 | TSN | Tyson Foods Inc-cl A | 股票-非循環性消費 | 2.30% | -0.81% | -13.07% | |
| 20 | ABBV | Abbvie Inc | 股票-醫療保健 | 2.27% | -0.39% | -15.62% | |
| 21 | CFR | Cullen/frost Bankers Inc | 股票-金融 | 2.25% | -0.35% | -13.47% | |
| 22 | MPC | Marathon Petroleum CORP | 股票-能源 | 2.21% | -0.86% | -15.64% | |
| 23 | ALSN | Allison Transmission Holding | 股票-循環性消費 | 2.18% | -0.73% | -11.38% | |
| 24 | ELV | Elevance Health Inc | 股票-醫療保健 | 2.15% | -0.12% | -11.91% | |
| 25 | MTB | M & T Bank CORP | 股票-金融 | 2.11% | -0.36% | -15.09% | |
| 26 | SBH | Sally Beauty Holdings Inc | 股票-其他 | 2.07% | — | -15.16% | |
| 27 | NEE | Nextera Energy Inc | 股票-公用事業 | 2.06% | -0.55% | -16.98% | |
| 28 | WMB | Williams Cos Inc | 股票-能源 | 2.05% | -0.64% | -14.22% | |
| 29 | INGR | Ingredion Inc | 股票-非循環性消費 | 2.03% | -0.10% | -7.93% | |
| 30 | GLPI | Gaming And Leisure Propertie | 股票-房地產 | 1.87% | -0.55% | -11.44% | |
| 31 | LKQ | Lkq CORP | 股票-循環性消費 | 1.77% | -0.60% | +1.70% | |
| 32 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 1.22% | — | -9.33% | |
| 33 | NBN | Northeast Bank | 股票-其他 | 0.41% | +0.14% | -3.46% | |
| 34 | SPFI | South Plains Financial Inc | 股票-其他 | 0.39% | +0.12% | -7.98% | |
| 35 | HTB | Hometrust Bancshares Inc | 股票-其他 | 0.37% | +0.14% | — | |
| 36 | OFG | Ofg Bancorp | 股票-其他 | 0.37% | +0.14% | -3.66% | |
| 37 | CHCO | City Holding Co | 股票-其他 | 0.21% | +0.09% | -9.17% | |
| 38 | SSBUSD | Southstate Bank CORP | 股票-其他 | 0.20% | -0.20% | EXIT | |
| 39 | LAUR | Laureate Education Inc | 股票-其他 | 0.20% | +0.01% | -4.65% | |
| 40 | INDB | Independent Bank Corp/ma | 股票-其他 | 0.20% | +0.08% | — | |
| 41 | BKH | Black Hills CORP | 股票-公用事業 | 0.19% | +0.02% | -7.42% | |
| 42 | PLUS | Eplus Inc | 股票-其他 | 0.19% | +0.05% | -14.71% | |
| 43 | ✓ | Bank Of Nt Butterfield&son L | 股票-其他 | 0.19% | +0.04% | +3.64% | |
| 44 | IMKTA | Ingles Markets Inc-class A | 股票-其他 | 0.18% | +0.02% | — | |
| 45 | BHB | Bar Harbor Bankshares | 股票-其他 | 0.18% | +0.09% | +11.64% | |
| 46 | BFST | Business First Bancshares | 股票-其他 | 0.18% | +0.10% | +7.01% | |
| 47 | BOKF | Bok Financial Corporation | 股票-其他 | 0.18% | +0.04% | — | |
| 48 | PECO | Phillips Edison & Company In | 股票-房地產 | 0.18% | +0.05% | — | |
| 49 | CBK | Commercial Bancgroup Inc | 股票-其他 | 0.17% | +0.14% | — | |
| 50 | NTST | Netstreit CORP | 股票-其他 | 0.17% | +0.07% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | JAZZ | Jazz Pharmaceuticals plc | +1.7% | -15.78% | 減碼 |
| 2 | UTHR | United Therapeutics CORP | +0.8% | -15.08% | 減碼 |
| 3 | LNTH | Lantheus Holdings Inc | +0.8% | -15.58% | 減碼 |
| 4 | ALSN | Allison Transmission Holding | +0.5% | -11.38% | 減碼 |
| 5 | CVS | Cvs Health CORP | +0.5% | -12.83% | 減碼 |
| 6 | GILD | Gilead Sciences Inc | +0.4% | -15.14% | 減碼 |
| 7 | CB | Chubb Limited | +0.4% | -13.99% | 減碼 |
| 8 | ✓ | +0.4% | -15.83% | 減碼 | |
| 9 | ELV | Elevance Health Inc | +0.4% | -11.91% | 減碼 |
| 10 | LKQ | Lkq CORP | +0.4% | +1.70% | 加碼 |
| 11 | TSN | Tyson Foods Inc-cl A | +0.4% | -13.07% | 減碼 |
| 12 | WBS | Webster Financial CORP | +0.3% | -14.97% | 減碼 |
| 13 | JPM | Jpmorgan Chase & Co | +0.3% | -14.07% | 減碼 |
| 14 | MKSI | Mks Inc | +0.3% | -33.94% | 減碼 |
| 15 | SLM | Slm CORP | +0.2% | -11.74% | 減碼 |
| 16 | NEE | Nextera Energy Inc | +0.2% | -16.98% | 減碼 |
| 17 | CFR | Cullen/frost Bankers Inc | +0.2% | -13.47% | 減碼 |
| 18 | MTB | M & T Bank CORP | +0.2% | -15.09% | 減碼 |
| 19 | GD | General Dynamics CORP | +0.2% | -13.87% | 減碼 |
| 20 | IBOC | International Bancshares Crp | +0.2% | -12.58% | 減碼 |
| 21 | GLPI | Gaming And Leisure Propertie | +0.1% | -11.44% | 減碼 |
| 22 | ABBV | Abbvie Inc | +0.1% | -15.62% | 減碼 |
| 23 | INGR | Ingredion Inc | +0.1% | -7.93% | 減碼 |
| 24 | UNH | Unitedhealth Group Inc | +0.1% | -9.33% | 減碼 |
| 25 | CVLG | Covenant Logistics Group Inc | +0.1% | +1061.04% | 加碼 |
| 26 | HTB | Hometrust Bancshares Inc | +0.1% | — | 不變 |
| 27 | NBN | Northeast Bank | +0.1% | -3.46% | 減碼 |
| 28 | ANF | Abercrombie & Fitch Co-cl A | +0.1% | +15.20% | 加碼 |
| 29 | ✓ | Bank Of Nt Butterfield&son L | +0.1% | +3.64% | 加碼 |
| 30 | AMPH | Amphastar Pharmaceuticals In | +0.1% | +171.24% | 加碼 |
| 31 | WGO | Winnebago Industries | +0.1% | +62.81% | 加碼 |
| 32 | AEO | American Eagle Outfitters | +0.1% | +4.17% | 加碼 |
| 33 | SPFI | South Plains Financial Inc | +0.1% | -7.98% | 減碼 |
| 34 | BFST | Business First Bancshares | +0.1% | +7.01% | 加碼 |
| 35 | WMB | Williams Cos Inc | +0.1% | -14.22% | 減碼 |
| 36 | WNC | Wabash National CORP | +0.1% | +88.20% | 加碼 |
| 37 | OFG | Ofg Bancorp | +0.1% | -3.66% | 減碼 |
| 38 | BHB | Bar Harbor Bankshares | +0.1% | +11.64% | 加碼 |
| 39 | SBSI | Southside Bancshares Inc | +0.1% | +1.18% | 加碼 |
| 40 | BOKF | Bok Financial Corporation | +0.1% | — | 不變 |
| 41 | INDB | Independent Bank Corp/ma | +0.1% | — | 不變 |
| 42 | PLUS | Eplus Inc | +0.1% | -14.71% | 減碼 |
| 43 | PECO | Phillips Edison & Company In | +0.1% | — | 不變 |
| 44 | HRMY | Harmony Biosciences Holdings | 0% | — | 不變 |
| 45 | EEFT | Euronet Worldwide Inc | 0% | +100.00% | 加碼 |
| 46 | BKH | Black Hills CORP | 0% | -7.42% | 減碼 |
| 47 | LAUR | Laureate Education Inc | 0% | -4.65% | 減碼 |
| 48 | SBRA | Sabra Health Care Reit Inc | 0% | — | 不變 |
| 49 | FSEA | First Seacoast Bancorp Inc | 0% | — | 不變 |
| 50 | FANG | Diamondback Energy Inc | 0% | — | 不變 |
根據 SEC 官方 Form 13F 申報備案，Polaris Capital Management, LLC 在 Q4 2025 季度的美股持倉總市值約為 US$10.6億，共申報了 89 個公開持股部位。
在 Q4 2025 季度，Polaris Capital Management, LLC 按市值排列的前三大核心持股分別為：BPOP (7.0%)、JAZZ (6.1%)、LIN (4.7%)。其中最大持股部位 BPOP 佔據整體投資組合約 7.0% 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
CBK
市值: US$205.1萬
本季最大獲利了結 / 清倉標的
VIPS
前期市值: US$9953.6萬
在 Q4 2025 季度中，Polaris Capital Management, LLC 共進行了 62 項持倉異動，包含新建倉 3 個部位、加碼 14 個部位、減碼 41 個部位以及清倉 4 個部位。 其中最大新建倉標的為 CBK。 本季清倉部位包含 VIPS。
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。