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: 0001000742
申報總市值
US$2.0億
US$2.0億
142 檔
27.0%
根據最新整理的 13F 季度數據集，Sandler Capital Management 於 Q3 2025 結束時的管理資產規模為 US$2.0億。該機構在本季度申報了 142 檔美股持倉，呈現出該時期的主要投資地圖。
Sandler Capital Management 在 Q3 2025 進行了結構性的板塊輪動與部位換股。在開立 78 個全新部位及加碼 13 檔持股的同時，亦同步清倉 51 檔並減碼 51 檔標的。
整體而言，Sandler Capital Management 的前 5 大持股（包含 GLW, TKO, META）貢獻了組合市值的 27.0%，形成該機構在 Q3 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 | GLW | Corning Inc | 股票-科技 | 4.04% | -0.99% | -6.28% | |
| 2 | TKO | Tko Group Holdings Inc | 股票-通訊服務 | 3.63% | -1.98% | +52.22% | |
| 3 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 3.05% | — | -26.96% | |
| 4 | ROKU | Roku Inc | 股票-通訊服務 | 2.94% | +1.87% | — | |
| 5 | GOGO | Gogo Inc | 股票-其他 | 2.32% | -0.20% | EXIT | |
| 6 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 2.19% | +0.11% | +288.46% | |
| 7 | KEYS | Keysight Technologies In | 股票-科技 | 1.85% | -0.54% | +20.40% | |
| 8 | HO1 | Hologic Inc | 股票-其他 | 1.64% | — | -22.84% | |
| 9 | LITE | Lumentum Holdings Inc | 股票-科技 | 1.62% | -0.08% | -31.65% | |
| 10 | RTX | Rtx CORP | 股票-工業 | 1.45% | +0.16% | -2.29% | |
| 11 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 1.34% | -4.74% | +112.10% | |
| 12 | APH | Amphenol Corp-cl A | 股票-科技 | 1.33% | +0.15% | — | |
| 13 | AAPL | Apple Inc | 股票-科技 | 1.28% | -1.08% | — | |
| 14 | TSLA | Tesla Inc | 股票-循環性消費 | 1.27% | — | — | |
| 15 | G | Genpact Limited | 股票-科技 | 1.21% | — | — | |
| 16 | TJX | Tjx Companies Inc | 股票-循環性消費 | 1.16% | — | +356.33% | |
| 17 | CLH | Clean Harbors Inc | 股票-工業 | 1.13% | -0.31% | -2.69% | |
| 18 | SNOW | Snowflake Inc | 股票-科技 | 1.13% | — | -1.12% | |
| 19 | BX | Blackstone Inc | 股票-金融 | 1.06% | — | +86.51% | |
| 20 | OKTA | Okta Inc | 股票-科技 | 1.05% | — | +13.70% | |
| 21 | CW | Curtiss-wright CORP | 股票-工業 | 1.02% | -0.26% | -4.62% | |
| 22 | VMI | Valmont Industries | 股票-工業 | 1.02% | -0.44% | EXIT | |
| 23 | CBOE | Cboe Global Markets Inc | 股票-金融 | 0.99% | -0.30% | +32.63% | |
| 24 | MSGS | Madison Square Garden Sports | 股票-通訊服務 | 0.99% | -0.47% | -16.79% | |
| 25 | DY | Dycom Industries Inc | 股票-工業 | 0.96% | +0.27% | — | |
| 26 | TRMB | Trimble Inc | 股票-科技 | 0.96% | -0.47% | -31.69% | |
| 27 | FLO | Flowers Foods Inc | 股票-非循環性消費 | 0.95% | -0.27% | EXIT | |
| 28 | AMZN | Amazon.com Inc | 股票-循環性消費 | 0.95% | +0.31% | -8.14% | |
| 29 | BHP | Bhp Group Ltd-spon Adr | 股票-原物料 | 0.93% | +0.14% | — | |
| 30 | PLD | Prologis Inc | 股票-房地產 | 0.92% | -0.45% | +18.46% | |
| 31 | TDY | Teledyne Technologies Inc | 股票-科技 | 0.91% | -0.10% | -26.86% | |
| 32 | SPOT | Spotify Technology S.A. | 股票-通訊服務 | 0.90% | +1.20% | NEW | |
| 33 | EGP | Eastgroup Properties Inc | 股票-房地產 | 0.89% | -0.37% | -18.23% | |
| 34 | SPXC | Spx Technologies Inc | 股票-工業 | 0.88% | -0.44% | EXIT | |
| 35 | GM | General Motors Co | 股票-循環性消費 | 0.88% | — | — | |
| 36 | GVA | Granite Construction Inc | 股票-工業 | 0.86% | — | -47.55% | |
| 37 | MLM | Martin Marietta Materials | 股票-原物料 | 0.86% | — | — | |
| 38 | CRH | CRH plc | 股票-原物料 | 0.83% | -0.45% | EXIT | |
| 39 | CAT | Caterpillar Inc | 股票-工業 | 0.82% | -0.35% | EXIT | |
| 40 | A | Agilent Technologies Inc | 股票-醫療保健 | 0.81% | +0.02% | +36.31% | |
| 41 | SPHR | Sphere Entertainment Co | 股票-通訊服務 | 0.81% | +0.12% | -36.57% | |
| 42 | GLD | Spdr Gold Shares | ETF-避險與商品 | 0.80% | — | — | |
| 43 | CCJ | Cameco CORP | 股票-能源 | 0.80% | +0.42% | NEW | |
| 44 | SHOP | Shopify Inc - Class A | 股票-科技 | 0.79% | -0.56% | EXIT | |
| 45 | MSFT | Microsoft CORP | 股票-科技 | 0.79% | — | -14.39% | |
| 46 | NFLX | Netflix Inc | 股票-通訊服務 | 0.78% | — | +20.62% | |
| 47 | EBAY | Ebay Inc | 股票-循環性消費 | 0.78% | +0.58% | -65.33% | |
| 48 | NVT | nVent Electric plc | 股票-工業 | 0.77% | -0.19% | — | |
| 49 | CBRE | Cbre Group Inc - A | 股票-房地產 | 0.77% | -0.27% | EXIT | |
| 50 | HNGE | Hinge Health Inc-a | 股票-其他 | 0.76% | +0.04% | +1.40% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GLW | Corning Inc | +2.4% | -6.28% | 加碼 |
| 2 | META | Meta Platforms Inc-class A | +2.3% | -26.96% | 加碼 |
| 3 | TKO | Tko Group Holdings Inc | +2.1% | +52.22% | 加碼 |
| 4 | LITE | Lumentum Holdings Inc | +1.4% | -31.65% | 加碼 |
| 5 | TSM | Taiwan Semiconductor-sp Adr | +1.1% | +112.10% | 加碼 |
| 6 | PLD | Prologis Inc | +0.9% | +18.46% | 加碼 |
| 7 | HO1 | Hologic Inc | +0.8% | -22.84% | 加碼 |
| 8 | BX | Blackstone Inc | +0.8% | +86.51% | 加碼 |
| 9 | TJX | Tjx Companies Inc | +0.7% | +356.33% | 加碼 |
| 10 | CLH | Clean Harbors Inc | +0.7% | -2.69% | 加碼 |
| 11 | KEYS | Keysight Technologies In | +0.6% | +20.40% | 加碼 |
| 12 | SNOW | Snowflake Inc | +0.5% | -1.12% | 減碼 |
| 13 | SPHR | Sphere Entertainment Co | +0.4% | -36.57% | 減碼 |
| 14 | GOOG | Alphabet Inc-cl C | +0.4% | +288.46% | 減碼 |
| 15 | SHOP | Shopify Inc - Class A | +0.3% | -44.10% | 減碼 |
| 16 | AVGO | Broadcom Inc | +0.3% | +661.65% | 減碼 |
| 17 | TECH | Bio-techne CORP | +0.3% | -16.49% | 加碼 |
| 18 | ZS | Zscaler Inc | +0.2% | -33.95% | 減碼 |
| 19 | AXON | Axon Enterprise Inc | +0.2% | +458.13% | 減碼 |
| 20 | CW | Curtiss-wright CORP | +0.1% | -4.62% | 減碼 |
| 21 | SPOT | Spotify Technology S.A. | +0.1% | +20.54% | 減碼 |
| 22 | ✓ | Cyberark Software LTD. Cmn | +0.1% | -33.59% | 減碼 |
| 23 | ATMU | Atmus Filtration Technologie | +0.1% | — | 減碼 |
| 24 | DHR | Danaher CORP | 0% | — | 加碼 |
| 25 | AROC | Archrock Inc | 0% | -16.94% | 減碼 |
| 26 | BABA | Alibaba Group Holding-sp Adr | 0% | — | 減碼 |
| 27 | EGP | Eastgroup Properties Inc | 0% | -18.23% | 減碼 |
| 28 | COHR | Coherent CORP | -0.1% | -82.40% | 減碼 |
| 29 | TDY | Teledyne Technologies Inc | -0.1% | -26.86% | 減碼 |
| 30 | NFLX | Netflix Inc | -0.1% | +20.62% | 減碼 |
| 31 | HD | Home Depot Inc | -0.1% | — | 減碼 |
| 32 | RGEN | Repligen CORP | -0.1% | — | 減碼 |
| 33 | MIR | Mirion Technologies Inc | -0.1% | -14.36% | 減碼 |
| 34 | HUBB | Hubbell Inc | -0.2% | -49.88% | 減碼 |
| 35 | CCJ | Cameco CORP | -0.2% | -32.28% | 減碼 |
| 36 | AIT | Applied Industrial Tech Inc | -0.3% | — | 減碼 |
| 37 | GVA | Granite Construction Inc | -0.3% | -47.55% | 減碼 |
| 38 | STLD | Steel Dynamics Inc | -0.3% | -16.91% | 減碼 |
| 39 | VST | Vistra CORP | -0.3% | -81.10% | 減碼 |
| 40 | VLTO | Veralto CORP | -0.3% | -55.93% | 減碼 |
| 41 | AEIS | Advanced Energy Industries | -0.3% | -88.73% | 減碼 |
| 42 | AER | AerCap Holdings N.V. | -0.4% | -53.78% | 減碼 |
| 43 | RTX | Rtx CORP | -0.4% | -2.29% | 減碼 |
| 44 | ETN | Eaton Corporation plc | -0.4% | -42.07% | 減碼 |
| 45 | LNN | Lindsay CORP | -0.5% | -14.50% | 減碼 |
| 46 | TRMB | Trimble Inc | -0.5% | -31.69% | 減碼 |
| 47 | FWONK | Liberty Media Corp-formula-c | -0.5% | +139.84% | 減碼 |
| 48 | BSX | Boston Scientific CORP | -0.5% | +13.13% | 減碼 |
| 49 | VMI | Valmont Industries | -0.6% | -57.34% | 減碼 |
| 50 | TLN | Talen Energy CORP | -0.6% | -62.29% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Sandler Capital Management 在 Q3 2025 季度的美股持倉總市值約為 US$2.0億，共申報了 142 個公開持股部位。
在 Q3 2025 季度，Sandler Capital Management 按市值排列的前三大核心持股分別為：GLW (4.0%)、TKO (3.6%)、META (3.0%)。其中最大持股部位 GLW 佔據整體投資組合約 4.0% 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
ROKU
市值: US$1001.3萬
本季最大獲利了結 / 清倉標的
COF
前期市值: US$1389.6萬
在 Q3 2025 季度中，Sandler Capital Management 共進行了 193 項持倉異動，包含新建倉 78 個部位、加碼 13 個部位、減碼 51 個部位以及清倉 51 個部位。 其中最大新建倉標的為 ROKU。 本季清倉部位包含 COF。
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。