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: 0001278960
申報總市值
US$9.2億
US$9.2億
65 檔
19.7%
根據最新整理的 13F 季度數據集，Silverback Asset Management LLC 於 Q2 2025 結束時的管理資產規模為 US$9.2億。該機構在本季度申報了 65 檔美股持倉，呈現出該時期的主要投資地圖。
Silverback Asset Management LLC 在 Q2 2025 進行了結構性的板塊輪動與部位換股。在開立 16 個全新部位及加碼 13 檔持股的同時，亦同步清倉 11 檔並減碼 22 檔標的。
整體而言，Silverback Asset Management LLC 的前 5 大持股（包含 HYG, STX 3.5 06-01-28, LITE 1.5 12-15-29）貢獻了組合市值的 19.7%，形成該機構在 Q2 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 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-非投資等級債 | 6.85% | — | -40.00% | |
| 2 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | 債券 | 5.35% | — | -2.33% | |
| 3 | LITE 1.5 12-15-29債券 | Lumentum Holdings Inc | 債券 | 4.88% | — | +330.67% | |
| 4 | TYL 0.25 03-15-26債券 | Tyler Technologies Inc | 債券 | 4.36% | — | +4.17% | |
| 5 | WDC 3 11-15-28債券 | Western Digital CORP | 債券 | 4.29% | — | +36.31% | |
| 6 | PRCH 6.75 10-01-28債券 | Porch Group Inc | 債券 | 3.90% | -1.15% | +6.65% | |
| 7 | VIAV 1.625 03-15-26債券 | Viavi Solutions Inc | 債券 | 3.84% | — | +25.77% | |
| 8 | COIN 0.5 06-01-26債券 | Coinbase Global Inc | 債券 | 3.40% | — | -3.28% | |
| 9 | VSH 2.25 09-15-30債券 | Vishay Intertechnology | 債券 | 3.22% | -2.99% | -15.10% | |
| 10 | NTNX 0.25 10-01-27債券 | Nutanix Inc | 債券 | 3.09% | -0.80% | — | |
| 11 | W 3.5 11-15-28債券 | Wayfair Inc | 債券 | 3.01% | — | +110.46% | |
| 12 | EVRG 4.5 12-15-27債券 | Evergy Inc | 債券 | 2.90% | — | — | |
| 13 | JBTM 0.25 05-15-26債券 | Jbt Marel CORP | 債券 | 2.79% | — | -24.71% | |
| 14 | PRCH 9 05-15-30債券 | Porch Group Inc | 債券 | 2.74% | -0.07% | — | |
| 15 | BSY 0.375 07-01-27債券 | Bentley Systems | 債券 | 2.34% | — | — | |
| 16 | ASTS 4.25 03-01-32債券 | Ast Spacemobile Inc | 債券 | 2.26% | — | — | |
| 17 | SMTC 1.625 11-01-27債券 | Semtech CORP | 債券 | 2.24% | +4.48% | -4.35% | |
| 18 | PCRX 2.125 05-15-29債券 | Pacira Biosciences Inc | 債券 | 2.22% | — | — | |
| 19 | AKAM 1.125 02-15-29債券 | Akamai Technologies Inc | 債券 | 2.04% | — | — | |
| 20 | LPSN 0 12-15-26債券 | Liveperson Inc | 債券 | 1.98% | — | — | |
| 21 | COLL 2.875 02-15-29債券 | Collegium Pharma Inc | 債券 | 1.88% | +0.32% | -3.91% | |
| 22 | ✓ | 股票-其他 | 1.85% | — | — | ||
| 23 | BBIO 2.25 02-01-29債券 | Bridgebio Pharma Inc | 債券 | 1.72% | -1.19% | +44.44% | |
| 24 | VRM | Vroom Inc | 股票-其他 | 1.71% | -0.46% | -0.41% | |
| 25 | ECHO 3.875 11-30-30債券 | Echostar CORP | 債券 | 1.63% | — | -52.27% | |
| 26 | WOLF 1.875 12-01-29債券 | Wolfspeed Inc | 債券 | 1.49% | — | — | |
| 27 | EGHT 4 02-01-28債券 | 8x8 Inc | 債券 | 1.46% | — | -7.56% | |
| 28 | EB 0.75 09-15-26債券 | Eventbrite Inc | 債券 | 1.46% | — | — | |
| 29 | ON 0 05-01-27債券 | On Semiconductor CORP | 債券 | 1.35% | -4.16% | EXIT | |
| 30 | LAZR 11.5 01-15-30債券 | Luminar Technologies Inc | 債券 | 1.33% | — | +7.43% | |
| 31 | FIVN 1 03-15-29債券 | Five9 Inc | 債券 | 1.23% | — | — | |
| 32 | PAR 1.5 10-15-27債券 | Par Technology CORP | 債券 | 1.22% | — | — | |
| 33 | CRNC 1.5 07-01-28債券 | Cerence Inc | 債券 | 1.10% | — | -16.67% | |
| 34 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | 債券 | 1.07% | — | — | |
| 35 | PD 1.5 10-15-28 *債券 | Pagerduty Inc. | 債券 | 1.04% | — | -36.04% | |
| 36 | BAND 0.5 04-01-28債券 | Bandwidth Inc | 債券 | 1.01% | — | +70.00% | |
| 37 | HLIT | Harmonic Inc | 股票-其他 | 0.95% | +0.10% | -2.07% | |
| 38 | F 0 03-15-26債券 | Ford Motor Company | 債券 | 0.91% | — | -43.48% | |
| 39 | VERI 1.75 11-15-26債券 | Veritone Inc | 債券 | 0.90% | — | — | |
| 40 | AMPH 2 03-15-29債券 | Amphastar Pharmaceutical | 債券 | 0.60% | -0.66% | EXIT | |
| 41 | LAZR 9 01-15-30債券 | Luminar Technologies Inc | 債券 | 0.58% | — | +27.59% | |
| 42 | NOTV 3.25 10-15-27債券 | Inotiv Inc | 債券 | 0.58% | -0.52% | +6.21% | |
| 43 | FLR 1.125 08-15-29債券 | Fluor CORP | 債券 | 0.56% | — | -82.71% | |
| 44 | PCG 6 12-01-27 A債券 | Pg&e CORP | 債券 | 0.56% | — | — | |
| 45 | DDD 0 11-15-26債券 | 3d Systems CORP | 債券 | 0.50% | — | -50.00% | |
| 46 | INDI | Indie Semiconductor Inc-a | 股票-其他 | 0.45% | -0.05% | EXIT | |
| 47 | QI 6.75 03-22-13 ADS債券 | Qimonda Finance LLC | 債券 | 0.44% | -0.11% | — | |
| 48 | ASTS | Ast Spacemobile Inc | 股票-科技 | 0.43% | -0.06% | — | |
| 49 | BYND 0 03-15-27債券 | Beyond Meat Inc | 債券 | 0.40% | — | — | |
| 50 | LYV 3.125 01-15-29債券 | Live Nation Entertainmen | 債券 | 0.32% | — | -89.77% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | LITE 1.5 12-15-29債券 | Lumentum Holdings Inc | +4% | +330.67% | 加碼 |
| 2 | NTNX 0.25 10-01-27債券 | Nutanix Inc | +3.1% | NEW | 新建倉 |
| 3 | EVRG 4.5 12-15-27債券 | Evergy Inc | +2.9% | NEW | 新建倉 |
| 4 | PRCH 9 05-15-30債券 | Porch Group Inc | +2.7% | NEW | 新建倉 |
| 5 | ASTS 4.25 03-01-32債券 | Ast Spacemobile Inc | +2.3% | NEW | 新建倉 |
| 6 | PCRX 2.125 05-15-29債券 | Pacira Biosciences Inc | +2.2% | NEW | 新建倉 |
| 7 | WDC 3 11-15-28債券 | Western Digital CORP | +2.1% | +36.31% | 加碼 |
| 8 | AKAM 1.125 02-15-29債券 | Akamai Technologies Inc | +2% | NEW | 新建倉 |
| 9 | W 3.5 11-15-28債券 | Wayfair Inc | +1.9% | +110.46% | 加碼 |
| 10 | ✓ | +1.9% | NEW | 新建倉 | |
| 11 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | +1.8% | -2.33% | 減碼 |
| 12 | FIVN 1 03-15-29債券 | Five9 Inc | +1.2% | NEW | 新建倉 |
| 13 | PPL 2.875 03-15-28債券 | Ppl Capital Funding Inc | +1.1% | NEW | 新建倉 |
| 14 | PRCH 6.75 10-01-28債券 | Porch Group Inc | +0.7% | +6.65% | 加碼 |
| 15 | VIAV 1.625 03-15-26債券 | Viavi Solutions Inc | +0.7% | +25.77% | 加碼 |
| 16 | BBIO 2.25 02-01-29債券 | Bridgebio Pharma Inc | +0.6% | +44.44% | 加碼 |
| 17 | PCG 6 12-01-27 A債券 | Pg&e CORP | +0.6% | NEW | 新建倉 |
| 18 | COIN 0.5 06-01-26債券 | Coinbase Global Inc | +0.5% | -3.28% | 減碼 |
| 19 | INDI | Indie Semiconductor Inc-a | +0.5% | NEW | 新建倉 |
| 20 | BAND 0.5 04-01-28債券 | Bandwidth Inc | +0.5% | +70.00% | 加碼 |
| 21 | ASTS | Ast Spacemobile Inc | +0.4% | NEW | 新建倉 |
| 22 | TYL 0.25 03-15-26債券 | Tyler Technologies Inc | +0.3% | +4.17% | 加碼 |
| 23 | PATK 1.75 12-01-28債券 | Patrick Industries Inc | +0.3% | NEW | 新建倉 |
| 24 | SMTC 1.625 11-01-27債券 | Semtech CORP | +0.3% | -4.35% | 減碼 |
| 25 | ARAY | Accuray Inc | +0.2% | +1588.44% | 加碼 |
| 26 | WOLF 1.875 12-01-29債券 | Wolfspeed Inc | +0.2% | — | 不變 |
| 27 | PRCH | Porch Group Inc | +0.2% | NEW | 新建倉 |
| 28 | STNG | Scorpio Tankers Inc. | +0.2% | NEW | 新建倉 |
| 29 | BSY 0.375 07-01-27債券 | Bentley Systems | +0.1% | — | 不變 |
| 30 | PAR 1.5 10-15-27債券 | Par Technology CORP | +0.1% | — | 不變 |
| 31 | ALRM 2.25 06-01-29債券 | Alarm.com Hldgs Inc | +0.1% | NEW | 新建倉 |
| 32 | LAZR 9 01-15-30債券 | Luminar Technologies Inc | +0.1% | +27.59% | 加碼 |
| 33 | QI 6.75 03-22-13 ADS債券 | Qimonda Finance LLC | +0.1% | — | 不變 |
| 34 | LPSN 0 12-15-26債券 | Liveperson Inc | 0% | — | 不變 |
| 35 | LAZR 11.5 01-15-30債券 | Luminar Technologies Inc | 0% | +7.43% | 加碼 |
| 36 | EB 0.75 09-15-26債券 | Eventbrite Inc | 0% | — | 不變 |
| 37 | MX | Magnachip Semiconductor CORP | 0% | — | 不變 |
| 38 | KPTI | Karyopharm Therapeutics Inc | 0% | +40.00% | 加碼 |
| 39 | GOSS | Gossamer Bio Inc | 0% | — | 不變 |
| 40 | AISPW | Airship Ai Holdings Inc-cw28 | — | — | 不變 |
| 41 | ✓ | Zapp Elec Vehs Group LTD | — | — | 不變 |
| 42 | HLIT | Harmonic Inc | 0% | -2.07% | 減碼 |
| 43 | VERI | Veritone Inc | 0% | — | 不變 |
| 44 | VRM | Vroom Inc | 0% | -0.41% | 減碼 |
| 45 | VERI 1.75 11-15-26債券 | Veritone Inc | 0% | — | 不變 |
| 46 | COLL 2.875 02-15-29債券 | Collegium Pharma Inc | 0% | -3.91% | 減碼 |
| 47 | CRNC 1.5 07-01-28債券 | Cerence Inc | -0.1% | -16.67% | 減碼 |
| 48 | EGHT 4 02-01-28債券 | 8x8 Inc | -0.1% | -7.56% | 減碼 |
| 49 | ✓ | Avadel Pharmaceuticals PLC ADR | -0.1% | -43.48% | 減碼 |
| 50 | RDNW | Ridenow Group Inc | -0.1% | -43.84% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Silverback Asset Management LLC 在 Q2 2025 季度的美股持倉總市值約為 US$9.2億，共申報了 65 個公開持股部位。
在 Q2 2025 季度，Silverback Asset Management LLC 按市值排列的前三大核心持股分別為：HYG (6.8%)、STX 3.5 06-01-28 (5.3%)、LITE 1.5 12-15-29 (4.9%)。其中最大持股部位 HYG 佔據整體投資組合約 6.8% 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
NTNX 0.25 10-01-27
市值: US$2185.0萬
本季最大獲利了結 / 清倉標的
SPY
前期市值: US$2797.0萬
在 Q2 2025 季度中，Silverback Asset Management LLC 共進行了 62 項持倉異動，包含新建倉 16 個部位、加碼 13 個部位、減碼 22 個部位以及清倉 11 個部位。 其中最大新建倉標的為 NTNX 0.25 10-01-27。 本季清倉部位包含 SPY。
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。