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: 0001180391
申報總市值
US$2551.2萬
US$2551.2萬
51 檔
121.3%
Q3 2025 季度申報顯示，Smh Capital Advisors Inc 揭露的美股組合總市值為 US$2551.2萬，涵蓋 51 個不同之權益投資部位。
在 Q3 2025，Smh Capital Advisors Inc 操作展現出積極擴展與加碼意向。本季共新建倉 16 個新部位，並對 21 個既有持股進行加碼（合計增持 37 檔），相較減碼與清倉部位顯著佔優。
整體而言，Smh Capital Advisors Inc 的前 5 大持股（包含 CSWC 5.125 11-15-29, WT 3.25 06-15-26, SPHY）貢獻了組合市值的 121.3%，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 | CSWC 5.125 11-15-29債券 | Capital Southwest CORP | 債券 | 24.25% | -29.24% | -4.10% | |
| 2 | WT 3.25 06-15-26債券 | Wisdomtree Investments | 債券 | 21.72% | — | +0.03% | |
| 3 | SPHY | Ss Spdr P High Yield ETF | ETF-非投資等級債 | 9.71% | — | +222.58% | |
| 4 | TRIN | Trinity Capital Inc | 股票-其他 | 4.28% | +4.82% | +2.57% | |
| 5 | CSWC | Capital Southwest CORP | 股票-其他 | 3.17% | +2.56% | +69.21% | |
| 6 | VICI | Vici Properties Inc | 股票-房地產 | 2.70% | +1.78% | +7.40% | |
| 7 | PSEC | Prospect Capital CORP | 股票-其他 | 2.38% | -3.15% | EXIT | |
| 8 | OWL | Blue Owl Capital Inc | 股票-金融 | 2.18% | +1.27% | +95.42% | |
| 9 | MAIN | Main Street Capital CORP | 股票-金融 | 2.17% | +1.62% | +0.26% | |
| 10 | CG | Carlyle Group Inc/the | 股票-金融 | 2.07% | +0.49% | -0.25% | |
| 11 | CIVI | Civitas Resources Inc | 股票-其他 | 1.51% | — | +24.34% | |
| 12 | HTGC | Hercules Capital Inc | 股票-金融 | 1.48% | +1.96% | — | |
| 13 | WT 3.25 08-15-29債券 | Wisdomtree Inc | 債券 | 1.33% | +0.83% | — | |
| 14 | DKS | Dick's Sporting Goods Inc | 股票-循環性消費 | 1.23% | -0.23% | — | |
| 15 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 1.15% | +0.85% | -56.54% | |
| 16 | HPK | Highpeak Energy Inc | 股票-其他 | 0.93% | -0.55% | EXIT | |
| 17 | O | Realty Income CORP | 股票-房地產 | 0.91% | — | +0.17% | |
| 18 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 0.86% | +0.63% | -1.09% | |
| 19 | EFA | Ishares Msci Eafe ETF | ETF-其他 | 0.82% | +0.57% | — | |
| 20 | RITM | Rithm Capital CORP | 股票-房地產 | 0.80% | +0.65% | +5.36% | |
| 21 | HASI | Ha Sustainable Infrastructur | 股票-金融 | 0.78% | -0.90% | EXIT | |
| 22 | FUBOGBP | Fubotv Inc | 股票-其他 | 0.76% | — | — | |
| 23 | ADX | Adams Diversified Equity | 股票-其他 | 0.63% | +0.52% | +0.91% | |
| 24 | GVA 3.25 06-15-30債券 | Granite Construction Inc | 債券 | 0.59% | — | — | |
| 25 | CSQ | Calamos Strat Ttl Rtrn Fnd | 股票-其他 | 0.59% | +0.51% | +1.07% | |
| 26 | XNIEX | Virtus Equity & Convertible | 股票-其他 | 0.57% | +0.45% | +1.37% | |
| 27 | CGBD | Carlyle Secured Lending Inc | 股票-其他 | 0.57% | +0.23% | — | |
| 28 | XAWFX | Alliancebernstein Gl Hi Inc | 股票-其他 | 0.54% | +0.29% | +1.53% | |
| 29 | HYT | Blackrock CORP Hi Yld | 股票-其他 | 0.52% | +0.28% | +1.66% | |
| 30 | LYFT 0.625 03-01-29債券 | Lyft Inc | 債券 | 0.51% | +1.03% | — | |
| 31 | BTZ | Blackrock Credit Allocation | 股票-其他 | 0.50% | +0.26% | +1.34% | |
| 32 | SLQT | Selectquote Inc | 股票-其他 | 0.50% | +0.17% | — | |
| 33 | XGDVX | Gabelli Dividend & Income Tr | 股票-其他 | 0.50% | +0.39% | +0.19% | |
| 34 | IIPR | Innovative Industrial Proper | 股票-房地產 | 0.50% | +1.74% | — | |
| 35 | APO | Apollo Global Management Inc | 股票-金融 | 0.48% | +0.28% | — | |
| 36 | GROW | U.s. Global Investors Inc-a | 股票-其他 | 0.46% | +0.20% | -8.92% | |
| 37 | XEVTX | Eaton Vance Tax-adv Dvd Inc | 股票-其他 | 0.45% | +0.39% | +1.29% | |
| 38 | HTD | John Hancock Tax Adv Dvd Inc | 股票-其他 | 0.45% | +0.30% | +0.87% | |
| 39 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 0.45% | +0.44% | — | |
| 40 | AMT | American Tower CORP | 股票-房地產 | 0.44% | -0.59% | EXIT | |
| 41 | BL 1 06-01-29債券 | Blackline Inc | 債券 | 0.44% | -0.53% | EXIT | |
| 42 | WT | Wisdomtree Inc | 股票-其他 | 0.44% | +0.67% | +5.87% | |
| 43 | NXDT | Nexpoint Diversified Real Es | 股票-其他 | 0.39% | +0.45% | +2.68% | |
| 44 | RQI | Cohen & Steers Qual Inc Rlty | 股票-其他 | 0.37% | +0.23% | +0.99% | |
| 45 | BIT | Blackrock Multi-sector Inc | 股票-其他 | 0.34% | +0.19% | +1.82% | |
| 46 | NAD | Nuveen Quality Municipal Inc | 股票-其他 | 0.30% | +0.18% | — | |
| 47 | XNEAX | Nuveen Amt-fr Qlty Muni Inc | 股票-其他 | 0.29% | +0.17% | — | |
| 48 | AFB | Allianceberstein Ntl Muni | 股票-其他 | 0.28% | +0.18% | — | |
| 49 | EIM | Eaton Vance Municipal Bond | 股票-其他 | 0.28% | +0.15% | — | |
| 50 | TEI | Templeton Emrg Mkts Inc | 股票-其他 | 0.27% | +0.22% | +1.79% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | SPHY | Ss Spdr P High Yield ETF | +8.1% | +222.58% | 加碼 |
| 2 | PSEC | Prospect Capital CORP | +1% | +201.54% | 加碼 |
| 3 | CSWC | Capital Southwest CORP | +0.8% | +69.21% | 加碼 |
| 4 | CG | Carlyle Group Inc/the | +0.1% | -0.25% | 減碼 |
| 5 | WT | Wisdomtree Inc | +0.1% | +5.87% | 加碼 |
| 6 | VWO | Vanguard Ftse Emerging Marke | +0.1% | -1.09% | 減碼 |
| 7 | ADX | Adams Diversified Equity | +0.1% | +0.91% | 減碼 |
| 8 | EFA | Ishares Msci Eafe ETF | 0% | — | 加碼 |
| 9 | CSQ | Calamos Strat Ttl Rtrn Fnd | 0% | +1.07% | 減碼 |
| 10 | XNIEX | Virtus Equity & Convertible | 0% | +1.37% | 加碼 |
| 11 | TEI | Templeton Emrg Mkts Inc | 0% | +1.79% | 減碼 |
| 12 | XGDVX | Gabelli Dividend & Income Tr | 0% | +0.19% | 減碼 |
| 13 | NAD | Nuveen Quality Municipal Inc | 0% | — | 加碼 |
| 14 | XNEAX | Nuveen Amt-fr Qlty Muni Inc | 0% | — | 加碼 |
| 15 | AFB | Allianceberstein Ntl Muni | 0% | — | 加碼 |
| 16 | EIM | Eaton Vance Municipal Bond | 0% | — | 加碼 |
| 17 | XEVTX | Eaton Vance Tax-adv Dvd Inc | 0% | +1.29% | 減碼 |
| 18 | BTZ | Blackrock Credit Allocation | -0.1% | +1.34% | 加碼 |
| 19 | HTD | John Hancock Tax Adv Dvd Inc | -0.1% | +0.87% | 減碼 |
| 20 | XAWFX | Alliancebernstein Gl Hi Inc | -0.1% | +1.53% | 加碼 |
| 21 | RQI | Cohen & Steers Qual Inc Rlty | -0.1% | +0.99% | 減碼 |
| 22 | HYT | Blackrock CORP Hi Yld | -0.1% | +1.66% | 加碼 |
| 23 | BIT | Blackrock Multi-sector Inc | -0.1% | +1.82% | 加碼 |
| 24 | GROW | U.s. Global Investors Inc-a | -0.1% | -8.92% | 減碼 |
| 25 | RITM | Rithm Capital CORP | -0.1% | +5.36% | 加碼 |
| 26 | NXDT | Nexpoint Diversified Real Es | -0.1% | +2.68% | 加碼 |
| 27 | O | Realty Income CORP | -0.1% | +0.17% | 減碼 |
| 28 | HASI | Ha Sustainable Infrastructur | -0.2% | +0.27% | 減碼 |
| 29 | AFCG | Advanced Flower Capital Inc | -0.2% | — | 不變 |
| 30 | CIVI | Civitas Resources Inc | -0.2% | +24.34% | 加碼 |
| 31 | MAIN | Main Street Capital CORP | -0.3% | +0.26% | 減碼 |
| 32 | VICI | Vici Properties Inc | -0.4% | +7.40% | 加碼 |
| 33 | TRIN | Trinity Capital Inc | -0.5% | +2.57% | 加碼 |
| 34 | WT 3.25 06-15-26債券 | Wisdomtree Investments | -0.5% | +0.03% | 加碼 |
| 35 | CSWC 5.125 11-15-29債券 | Capital Southwest CORP | -2.7% | -4.10% | 加碼 |
| 36 | EZPW 2.375 05-01-25債券 | Ezcorp Inc | — | EXIT | 清倉 |
| 37 | WT 5.75 08-15-28債券 | Wisdomtree Inc | — | EXIT | 清倉 |
| 38 | CODI | Compass Diversified Holdings | — | EXIT | 清倉 |
| 39 | OWL | Blue Owl Capital Inc | — | NEW | 新建倉 |
| 40 | T | At&t Inc | — | EXIT | 清倉 |
| 41 | HTGC | Hercules Capital Inc | — | NEW | 新建倉 |
| 42 | WT 3.25 08-15-29債券 | Wisdomtree Inc | — | NEW | 新建倉 |
| 43 | ENB | Enbridge Inc | — | EXIT | 清倉 |
| 44 | DKS | Dick's Sporting Goods Inc | — | NEW | 新建倉 |
| 45 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | NEW | 新建倉 |
| 46 | VZ | Verizon Communications Inc | — | EXIT | 清倉 |
| 47 | PNNT | Pennantpark Investment CORP | — | EXIT | 清倉 |
| 48 | HPK | Highpeak Energy Inc | — | NEW | 新建倉 |
| 49 | FUBOGBP | Fubotv Inc | — | NEW | 新建倉 |
| 50 | GVA 3.25 06-15-30債券 | Granite Construction Inc | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Smh Capital Advisors Inc 在 Q3 2025 季度的美股持倉總市值約為 US$2551.2萬，共申報了 51 個公開持股部位。
在 Q3 2025 季度，Smh Capital Advisors Inc 按市值排列的前三大核心持股分別為：CSWC 5.125 11-15-29 (24.3%)、WT 3.25 06-15-26 (21.7%)、SPHY (9.7%)。其中最大持股部位 CSWC 5.125 11-15-29 佔據整體投資組合約 24.3% 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
OWL
市值: US$107.1萬
本季最大獲利了結 / 清倉標的
EZPW 2.375 05-01-25
前期市值: US$187.8萬
在 Q3 2025 季度中，Smh Capital Advisors Inc 共進行了 60 項持倉異動，包含新建倉 16 個部位、加碼 21 個部位、減碼 13 個部位以及清倉 10 個部位。 其中最大新建倉標的為 OWL。 本季清倉部位包含 EZPW 2.375 05-01-25。
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。