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: 0001591744
申報總市值
US$11.4億
US$11.4億
85 檔
24.2%
Q4 2025 季度申報顯示，Shellback Capital, LP 揭露的美股組合總市值為 US$11.4億，涵蓋 85 個不同之權益投資部位。
Shellback Capital, LP 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 74 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，Shellback Capital, LP 的前 5 大持股（包含 TPR, SN, ULTA）貢獻了組合市值的 24.2%，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 | TPR | Tapestry Inc | 股票-循環性消費 | 5.83% | -1.74% | +0.31% | |
| 2 | SN | SharkNinja, Inc. | 股票-循環性消費 | 5.38% | -2.94% | EXIT | |
| 3 | ULTA | Ulta Beauty Inc | 股票-循環性消費 | 5.28% | — | -27.85% | |
| 4 | RL | Ralph Lauren CORP | 股票-循環性消費 | 5.24% | -1.79% | +5.72% | |
| 5 | ROST | Ross Stores Inc | 股票-循環性消費 | 4.64% | -2.87% | +26.20% | |
| 6 | SPOT | Spotify Technology S.A. | 股票-通訊服務 | 3.88% | -0.50% | +26.73% | |
| 7 | AS | Amer Sports, Inc. | 股票-循環性消費 | 3.53% | -1.42% | +44.80% | |
| 8 | TKR | Timken Co | 股票-工業 | 3.18% | — | +45.12% | |
| 9 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.75% | +2.40% | NEW | |
| 10 | CHDN | Churchill Downs Inc | 股票-循環性消費 | 2.71% | -0.57% | — | |
| 11 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 2.56% | -0.60% | EXIT | |
| 12 | DKS | Dick's Sporting Goods Inc | 股票-循環性消費 | 2.54% | +1.55% | -13.50% | |
| 13 | FIVE | Five Below | 股票-循環性消費 | 2.39% | +0.55% | NEW | |
| 14 | BURL | Burlington Stores Inc | 股票-循環性消費 | 2.30% | -1.49% | +5.72% | |
| 15 | BROS | Dutch Bros Inc-class A | 股票-循環性消費 | 2.10% | -0.95% | — | |
| 16 | CPRI | Capri Holdings Limited | 股票-循環性消費 | 2.06% | -1.80% | EXIT | |
| 17 | DOV | Dover CORP | 股票-工業 | 1.85% | +2.10% | +4748.71% | |
| 18 | ABNB | Airbnb Inc-class A | 股票-循環性消費 | 1.75% | +0.64% | +126.79% | |
| 19 | NXPI | NXP Semiconductors N.V. | 股票-科技 | 1.69% | +3.82% | NEW | |
| 20 | HLT | Hilton Worldwide Holdings In | 股票-循環性消費 | 1.51% | -1.44% | — | |
| 21 | BOOT | Boot Barn Holdings Inc | 股票-循環性消費 | 1.44% | +0.09% | -39.50% | |
| 22 | MCHP | Microchip Technology Inc | 股票-科技 | 1.37% | +1.79% | NEW | |
| 23 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.34% | -0.29% | — | |
| 24 | W | Wayfair Inc- Class A | 股票-循環性消費 | 1.23% | -0.54% | -68.13% | |
| 25 | UBER | Uber Technologies Inc | 股票-工業 | 1.17% | +0.12% | +100.00% | |
| 26 | LECO | Lincoln Electric Holdings | 股票-工業 | 1.17% | — | — | |
| 27 | GPI | Group 1 Automotive Inc | 股票-循環性消費 | 1.13% | -0.82% | -36.03% | |
| 28 | LYV | Live Nation Entertainment In | 股票-通訊服務 | 1.11% | -0.48% | +36.45% | |
| 29 | DASH | Doordash Inc - A | 股票-循環性消費 | 1.08% | +0.70% | -58.33% | |
| 30 | ROKU | Roku Inc | 股票-通訊服務 | 1.06% | +0.04% | — | |
| 31 | AZO | Autozone Inc | 股票-循環性消費 | 1.04% | -0.10% | EXIT | |
| 32 | CMI | Cummins Inc | 股票-工業 | 0.97% | — | — | |
| 33 | ✓ | On Holding AG | 股票-其他 | 0.96% | -0.35% | EXIT | |
| 34 | WMT | Walmart Inc | 股票-非循環性消費 | 0.96% | — | +63.64% | |
| 35 | VSXY | Victoria's Secret & Co | 股票-循環性消費 | 0.95% | -0.68% | +2153.58% | |
| 36 | MLM | Martin Marietta Materials | 股票-原物料 | 0.95% | — | — | |
| 37 | OLLI | Ollie's Bargain Outlet Holdi | 股票-非循環性消費 | 0.92% | -0.51% | -58.83% | |
| 38 | EAT | Brinker International Inc | 股票-循環性消費 | 0.86% | -0.46% | EXIT | |
| 39 | M | Macy's, Inc. | 股票-循環性消費 | 0.75% | — | — | |
| 40 | BBY | Best Buy Co Inc | 股票-循環性消費 | 0.71% | +0.85% | NEW | |
| 41 | LITE | Lumentum Holdings Inc | 股票-科技 | 0.70% | +0.75% | NEW | |
| 42 | LTH | Life Time Group Holdings Inc | 股票-其他 | 0.70% | -0.07% | — | |
| 43 | NCLH | Norwegian Cruise Line Holdings Ltd. | 股票-循環性消費 | 0.69% | — | +116.67% | |
| 44 | ALK | Alaska Air Group Inc | 股票-工業 | 0.67% | — | -36.36% | |
| 45 | PUMP | Propetro Holding CORP | 股票-其他 | 0.63% | +0.62% | NEW | |
| 46 | HIVE | Hive Digital Technologies Lt | 股票-其他 | 0.59% | — | +48.41% | |
| 47 | CPA | Copa Holdings, S.A. | 股票-其他 | 0.58% | -0.73% | — | |
| 48 | WYNN | Wynn Resorts LTD | 股票-循環性消費 | 0.57% | -0.07% | EXIT | |
| 49 | MKSI | Mks Inc | 股票-科技 | 0.56% | -1.35% | EXIT | |
| 50 | REGN | Regeneron Pharmaceuticals | 股票-醫療保健 | 0.54% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | SN | SharkNinja, Inc. | +4% | +130.53% | 加碼 |
| 2 | ROST | Ross Stores Inc | +2.6% | +26.20% | 加碼 |
| 3 | AMZN | Amazon.com Inc | +2.5% | +525.00% | 加碼 |
| 4 | TPR | Tapestry Inc | +2.4% | +0.31% | 加碼 |
| 5 | RL | Ralph Lauren CORP | +2.3% | +5.72% | 加碼 |
| 6 | AS | Amer Sports, Inc. | +2% | +44.80% | 加碼 |
| 7 | TKR | Timken Co | +1.9% | +45.12% | 加碼 |
| 8 | DOV | Dover CORP | +1.8% | +4748.71% | 加碼 |
| 9 | SPOT | Spotify Technology S.A. | +1.4% | +26.73% | 加碼 |
| 10 | ABNB | Airbnb Inc-class A | +1.3% | +126.79% | 加碼 |
| 11 | CHDN | Churchill Downs Inc | +1.2% | — | 不變 |
| 12 | FIVE | Five Below | +1.1% | -0.37% | 減碼 |
| 13 | CPRI | Capri Holdings Limited | +1% | +7.95% | 加碼 |
| 14 | BURL | Burlington Stores Inc | +1% | +5.72% | 加碼 |
| 15 | BKNG | Booking Holdings Inc | +1% | +11.11% | 加碼 |
| 16 | VSXY | Victoria's Secret & Co | +0.9% | +2153.58% | 加碼 |
| 17 | ULTA | Ulta Beauty Inc | +0.9% | -27.85% | 減碼 |
| 18 | UBER | Uber Technologies Inc | +0.7% | +100.00% | 加碼 |
| 19 | WMT | Walmart Inc | +0.6% | +63.64% | 加碼 |
| 20 | EAT | Brinker International Inc | +0.6% | +71.12% | 加碼 |
| 21 | LYV | Live Nation Entertainment In | +0.5% | +36.45% | 加碼 |
| 22 | ✓ | On Holding AG | +0.5% | +21.47% | 加碼 |
| 23 | NCLH | Norwegian Cruise Line Holdings Ltd. | +0.5% | +116.67% | 加碼 |
| 24 | DKS | Dick's Sporting Goods Inc | +0.4% | -13.50% | 減碼 |
| 25 | LYFT | Lyft Inc-a | +0.3% | +100.00% | 加碼 |
| 26 | LTH | Life Time Group Holdings Inc | +0.2% | — | 不變 |
| 27 | CPA | Copa Holdings, S.A. | +0.2% | — | 不變 |
| 28 | TSEM | Tower Semiconductor Ltd. | +0.2% | +9.87% | 加碼 |
| 29 | HIVE | Hive Digital Technologies Lt | +0.2% | +48.41% | 加碼 |
| 30 | BRCB | Black Rock Coffee Bar Inc-a | +0.1% | — | 不變 |
| 31 | SRAD | Sportradar Group AG | 0% | — | 不變 |
| 32 | ONEW | Onewater Marine Inc-cl A | — | — | 不變 |
| 33 | HZO | Marinemax Inc | 0% | -32.02% | 減碼 |
| 34 | ALK | Alaska Air Group Inc | 0% | -36.36% | 減碼 |
| 35 | BOOT | Boot Barn Holdings Inc | 0% | -39.50% | 減碼 |
| 36 | TJX | Tjx Companies Inc | -0.1% | -50.00% | 減碼 |
| 37 | SHAK | Shake Shack Inc - Class A | -0.2% | -90.00% | 減碼 |
| 38 | GPI | Group 1 Automotive Inc | -0.2% | -36.03% | 減碼 |
| 39 | WWW | Wolverine World Wide Inc | -0.2% | -55.41% | 減碼 |
| 40 | PTON | Peloton Interactive Inc-a | -0.2% | -37.50% | 減碼 |
| 41 | AZO | Autozone Inc | -0.4% | -38.46% | 減碼 |
| 42 | BIRK | Birkenstock Holding plc | -0.4% | -74.88% | 減碼 |
| 43 | WYNN | Wynn Resorts LTD | -0.4% | -58.33% | 減碼 |
| 44 | ASO | Academy Sports & Outdoors In | -0.4% | -63.06% | 減碼 |
| 45 | BBY | Best Buy Co Inc | -0.4% | -53.64% | 減碼 |
| 46 | BCO | Brink's Co/the | -0.5% | -76.49% | 減碼 |
| 47 | SIG | Signet Jewelers Limited | -0.5% | -94.65% | 減碼 |
| 48 | CART | Maplebear Inc | -0.6% | -92.56% | 減碼 |
| 49 | CHRW | C.h. Robinson Worldwide Inc | -0.8% | -91.30% | 減碼 |
| 50 | OLLI | Ollie's Bargain Outlet Holdi | -0.8% | -58.83% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Shellback Capital, LP 在 Q4 2025 季度的美股持倉總市值約為 US$11.4億，共申報了 85 個公開持股部位。
在 Q4 2025 季度，Shellback Capital, LP 按市值排列的前三大核心持股分別為：TPR (5.8%)、SN (5.4%)、ULTA (5.3%)。其中最大持股部位 TPR 佔據整體投資組合約 5.8% 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
BROS
市值: US$2197.8萬
本季最大獲利了結 / 清倉標的
CFG
前期市值: US$6967.4萬
在 Q4 2025 季度中，Shellback Capital, LP 共進行了 124 項持倉異動，包含新建倉 26 個部位、加碼 24 個部位、減碼 29 個部位以及清倉 45 個部位。 其中最大新建倉標的為 BROS。 本季清倉部位包含 CFG。
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。