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: 0001143565
申報總市值
US$10.9億
US$10.9億
193 檔
30.2%
在 Q3 2025 申報期間，Rational Advisors, Inc.（CIK: 0001143565）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$10.9億，共持有 193 個公開申報部位。
觀察 Q3 2025 的資金脈絡，Rational Advisors, Inc. 在獲利結算 9 檔個股的同時，將資本重新部署至 13 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 SPAB, BND, AGG）累計市值佔比達 30.2%，是驅動 Rational Advisors, Inc. 該季度整體投資組合績效表現的核心支柱。
| # | 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 | SPAB | Ss Spdr P Agg Bond ETF | ETF-其他 | 7.55% | — | -1.06% | |
| 2 | BND | Vanguard Total Bond Market | ETF-其他 | 7.55% | -0.61% | -1.14% | |
| 3 | AGG | Ishares Core U.s. Aggregate | ETF-其他 | 7.54% | -0.61% | -1.14% | |
| 4 | QQQM | Invesco Nasdaq 100 ETF | ETF-科技型 | 5.08% | -0.34% | -8.33% | |
| 5 | MLPX | Global X Mlp & Energy Infras | ETF-其他 | 5.04% | -0.57% | -1.13% | |
| 6 | XLU | St Sr Utl Sl Se Spdr Etf-usd | ETF-其他 | 4.69% | -0.55% | +5.89% | |
| 7 | IVV | Ishares Core S&p 500 ETF | ETF-大型股與成長 | 4.62% | +1.28% | +1.25% | |
| 8 | VIG | Vanguard Dividend Apprec ETF | ETF-其他 | 4.17% | -0.58% | -15.16% | |
| 9 | NTSX | Wisdomtree US Efficient Core | ETF-其他 | 3.83% | -3.10% | -8.39% | |
| 10 | SCHH | Schwab US Reit ETF | ETF-其他 | 3.29% | +0.30% | -1.07% | |
| 11 | JEPI | Jpmorgan Equity Premium Inco | ETF-其他 | 2.88% | -0.50% | -1.37% | |
| 12 | SPHY | Ss Spdr P High Yield ETF | ETF-非投資等級債 | 2.48% | — | -1.15% | |
| 13 | PFFD | Global X US Preferred ETF | ETF-其他 | 2.07% | -0.19% | -3.01% | |
| 14 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 2.02% | +1.05% | -16.20% | |
| 15 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-大型股與成長 | 1.66% | -0.11% | -8.23% | |
| 16 | DFCF | Dimensional Core Fixed Inc | ETF-其他 | 1.65% | -0.12% | -1.79% | |
| 17 | SCHI | Schwab 5-10 Year Corporate B | ETF-投資等級公司債 | 1.24% | +0.38% | NEW | |
| 18 | IEFA | Ishares Core Msci Eafe ETF | ETF-其他 | 1.22% | -1.37% | -50.16% | |
| 19 | UBER 0.875 12-01-28 2028債券 | Uber Technologies Inc | 債券 | 1.07% | -0.10% | — | |
| 20 | BAC 7.25 PERP L債券 | Bank Of America CORP | 債券 | 1.02% | -0.05% | — | |
| 21 | WFC 7.5 PERP L債券 | Wells Fargo & Company | 債券 | 1.01% | -1.11% | — | |
| 22 | ON 0.5 03-01-29債券 | On Semiconductor CORP | 債券 | 0.91% | -0.69% | — | |
| 23 | GPN 1.5 03-01-31債券 | Global Payments Inc | 債券 | 0.86% | -0.08% | +41.85% | |
| 24 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.85% | +0.04% | +323.96% | |
| 25 | KKR 6.25 03-01-28 D債券 | Kkr & Co Inc | 債券 | 0.84% | -0.03% | +6.18% | |
| 26 | VTR 3.75 06-01-26債券 | Ventas Realty LP | 債券 | 0.81% | — | +25.45% | |
| 27 | MBB | Ishares Mbs ETF | ETF-其他 | 0.81% | — | -4.56% | |
| 28 | LNT 3.875 03-15-26債券 | Alliant Energy CORP | 債券 | 0.74% | — | — | |
| 29 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.73% | -0.04% | -26.42% | |
| 30 | IEMG | Ishares Core Msci Emerging | ETF-新興市場 | 0.72% | — | — | |
| 31 | MTH 1.75 05-15-28債券 | Meritage Homes CORP | 債券 | 0.71% | -0.03% | +232.48% | |
| 32 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | 債券 | 0.71% | -0.14% | -13.50% | |
| 33 | ETSY 0.25 06-15-28債券 | Etsy Inc | 債券 | 0.71% | -0.08% | — | |
| 34 | F 0 03-15-26債券 | Ford Motor Company | 債券 | 0.68% | — | +219.43% | |
| 35 | AMZN | Amazon.com Inc | 股票-循環性消費 | 0.68% | -0.09% | +5.69% | |
| 36 | MSFT | Microsoft CORP | 股票-科技 | 0.67% | -0.26% | +1.05% | |
| 37 | AWK 3.625 06-15-26債券 | American Water Capital C | 債券 | 0.65% | — | -7.26% | |
| 38 | HPE 7.625 09-01-27債券 | Hp Enterprise Co | 債券 | 0.60% | -0.35% | — | |
| 39 | FOUR 0.5 08-01-27債券 | Shift4 Payments Inc | 債券 | 0.56% | +0.18% | -17.98% | |
| 40 | AAPL | Apple Inc | 股票-科技 | 0.52% | -0.12% | +5.29% | |
| 41 | DKNG 0 03-15-28債券 | Draftkings Holdings Inc | 債券 | 0.52% | -0.04% | -33.18% | |
| 42 | TSLA | Tesla Inc | 股票-循環性消費 | 0.51% | -0.10% | +289.47% | |
| 43 | WMT | Walmart Inc | 股票-非循環性消費 | 0.48% | -0.55% | +5.60% | |
| 44 | NFLX | Netflix Inc | 股票-通訊服務 | 0.48% | +0.36% | +32.69% | |
| 45 | NOW | Servicenow Inc | 股票-科技 | 0.44% | -0.20% | -6.07% | |
| 46 | BAB | Invesco Taxable Municipal Bo | ETF-其他 | 0.42% | -0.08% | -1.86% | |
| 47 | MCHP 7.5 03-15-28債券 | Microchip Technology Inc | 債券 | 0.41% | -0.40% | EXIT | |
| 48 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.40% | -0.06% | +2.15% | |
| 49 | OKTA 0.375 06-15-26債券 | Okta Inc | 債券 | 0.39% | — | -45.53% | |
| 50 | MOG-A | Moog Inc-class A | 股票-其他 | 0.38% | +0.42% | NEW |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | XLU | St Sr Utl Sl Se Spdr Etf-usd | +1.1% | +5.89% | 加碼 |
| 2 | GOOGL | Alphabet Inc-cl A | +0.5% | +323.96% | 加碼 |
| 3 | F 0 03-15-26債券 | Ford Motor Company | +0.5% | +219.43% | 加碼 |
| 4 | TSLA | Tesla Inc | +0.5% | +289.47% | 加碼 |
| 5 | MBB | Ishares Mbs ETF | +0.4% | -4.56% | 加碼 |
| 6 | SCHI | Schwab 5-10 Year Corporate B | +0.4% | -1.91% | 加碼 |
| 7 | META | Meta Platforms Inc-class A | +0.4% | -26.42% | 加碼 |
| 8 | QQQM | Invesco Nasdaq 100 ETF | +0.4% | -8.33% | 減碼 |
| 9 | MSFT | Microsoft CORP | +0.3% | +1.05% | 加碼 |
| 10 | UBER 0.875 12-01-28 2028債券 | Uber Technologies Inc | +0.3% | — | 加碼 |
| 11 | UBER | Uber Technologies Inc | +0.3% | +29.72% | 加碼 |
| 12 | GPN 1.5 03-01-31債券 | Global Payments Inc | +0.2% | +41.85% | 加碼 |
| 13 | DKNG 0 03-15-28債券 | Draftkings Holdings Inc | -0.2% | -33.18% | 減碼 |
| 14 | IEF | Ishares 7-10 Year Treasury B | -0.3% | -94.88% | 減碼 |
| 15 | NEE | Nextera Energy Inc | -0.3% | -45.78% | 減碼 |
| 16 | NTSX | Wisdomtree US Efficient Core | -0.3% | -8.39% | 減碼 |
| 17 | AMZN | Amazon.com Inc | -0.3% | +5.69% | 減碼 |
| 18 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | -0.4% | -13.50% | 減碼 |
| 19 | APO 6.75 07-31-26債券 | Apollo Global Management | -0.4% | -74.35% | 減碼 |
| 20 | BND | Vanguard Total Bond Market | -0.4% | -1.14% | 減碼 |
| 21 | SPAB | Ss Spdr P Agg Bond ETF | -0.4% | -1.06% | 減碼 |
| 22 | VIG | Vanguard Dividend Apprec ETF | -0.4% | -15.16% | 減碼 |
| 23 | AGG | Ishares Core U.s. Aggregate | -0.4% | -1.14% | 減碼 |
| 24 | SHY | Ishares 1-3 Year Treasury Bo | -0.5% | -99.61% | 減碼 |
| 25 | NEE 7.234 11-01-27債券 | Nextera Energy Inc | -0.6% | — | 減碼 |
| 26 | SCHH | Schwab US Reit ETF | -0.6% | -1.07% | 減碼 |
| 27 | BAB | Invesco Taxable Municipal Bo | -0.9% | -1.86% | 減碼 |
| 28 | IVV | Ishares Core S&p 500 ETF | -1.6% | +1.25% | 減碼 |
| 29 | ON 0.5 03-01-29債券 | On Semiconductor CORP | — | NEW | 新建倉 |
| 30 | DXCM 0.25 11-15-25債券 | Dexcom Inc | — | EXIT | 清倉 |
| 31 | KKR 6.25 03-01-28 D債券 | Kkr & Co Inc | — | NEW | 新建倉 |
| 32 | IEMG | Ishares Core Msci Emerging | — | NEW | 新建倉 |
| 33 | MTH 1.75 05-15-28債券 | Meritage Homes CORP | — | NEW | 新建倉 |
| 34 | SHOPCN 0.125 11-01-25債券 | Shopify Inc | — | EXIT | 清倉 |
| 35 | HPE 7.625 09-01-27債券 | Hp Enterprise Co | — | NEW | 新建倉 |
| 36 | BKNG | Booking Holdings Inc | — | EXIT | 清倉 |
| 37 | NOW | Servicenow Inc | — | NEW | 新建倉 |
| 38 | MCHP 7.5 03-15-28債券 | Microchip Technology Inc | — | NEW | 新建倉 |
| 39 | TYL 0.25 03-15-26債券 | Tyler Technologies Inc | — | EXIT | 清倉 |
| 40 | TW | Tradeweb Markets Inc-class A | — | EXIT | 清倉 |
| 41 | MOG-A | Moog Inc-class A | — | NEW | 新建倉 |
| 42 | MPWR | Monolithic Power Systems Inc | — | NEW | 新建倉 |
| 43 | INTU | Intuit Inc | — | NEW | 新建倉 |
| 44 | ✓ | Cyberark Software LTD. Cmn | — | EXIT | 清倉 |
| 45 | ITT | Itt Inc | — | NEW | 新建倉 |
| 46 | PEN | Penumbra Inc | — | EXIT | 清倉 |
| 47 | CCL1EUR | Carnival CORP LTD | — | NEW | 新建倉 |
| 48 | AXP | American Express Co | — | NEW | 新建倉 |
| 49 | WIX | Wix.com Ltd. | — | EXIT | 清倉 |
| 50 | OKTA | Okta Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Rational Advisors, Inc. 在 Q3 2025 季度的美股持倉總市值約為 US$10.9億，共申報了 193 個公開持股部位。
在 Q3 2025 季度，Rational Advisors, Inc. 按市值排列的前三大核心持股分別為：SPAB (7.5%)、BND (7.5%)、AGG (7.5%)。其中最大持股部位 SPAB 佔據整體投資組合約 7.5% 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
ON 0.5 03-01-29
市值: US$918.2萬
本季最大獲利了結 / 清倉標的
DXCM 0.25 11-15-25
前期市值: US$888.9萬
在 Q3 2025 季度中，Rational Advisors, Inc. 共進行了 50 項持倉異動，包含新建倉 13 個部位、加碼 11 個部位、減碼 17 個部位以及清倉 9 個部位。 其中最大新建倉標的為 ON 0.5 03-01-29。 本季清倉部位包含 DXCM 0.25 11-15-25。
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。