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
55 檔
115.5%
在 Q4 2025 的 13F 官方備案中，Smh Capital Advisors Inc 管理的美股投資組合規模來到 US$2551.2萬，整體持股檔數為 55 檔。
在 Q4 2025，Smh Capital Advisors Inc 進行了溫和的常態性持倉調整（包含新建倉 4 檔、加碼 18 檔、減碼 19 檔與清倉 0 檔），整體投資組合架構維持相對穩定。
從部位權重觀察，前 5 大標的（包含 CSWC 5.125 11-15-29, WT 3.25 06-15-26, TRIN）累計市值佔比達 115.5%，是驅動 Smh Capital 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 | CSWC 5.125 11-15-29債券 | Capital Southwest CORP | 債券 | 24.51% | -29.24% | -0.73% | |
| 2 | WT 3.25 06-15-26債券 | Wisdomtree Investments | 債券 | 22.01% | — | — | |
| 3 | TRIN | Trinity Capital Inc | 股票-其他 | 5.09% | +4.82% | +22.90% | |
| 4 | SPHY | Ss Spdr P High Yield ETF | ETF-非投資等級債 | 4.85% | — | -49.66% | |
| 5 | CSWC | Capital Southwest CORP | 股票-其他 | 3.53% | +2.56% | +2.48% | |
| 6 | VICI | Vici Properties Inc | 股票-房地產 | 2.81% | +1.78% | +11.34% | |
| 7 | RIOT 0.75 01-15-30債券 | Riot Platforms Inc | 債券 | 2.53% | -3.57% | EXIT | |
| 8 | MAIN | Main Street Capital CORP | 股票-金融 | 2.32% | +1.62% | +1.10% | |
| 9 | CG | Carlyle Group Inc/the | 股票-金融 | 2.27% | +0.49% | -0.63% | |
| 10 | PSEC | Prospect Capital CORP | 股票-其他 | 2.25% | -3.15% | EXIT | |
| 11 | OWL | Blue Owl Capital Inc | 股票-金融 | 2.06% | +1.27% | -0.20% | |
| 12 | HTGC | Hercules Capital Inc | 股票-金融 | 1.57% | +1.96% | +1.23% | |
| 13 | CIVI | Civitas Resources Inc | 股票-其他 | 1.42% | — | +0.00% | |
| 14 | WT 3.25 08-15-29債券 | Wisdomtree Inc | 債券 | 1.22% | +0.83% | -9.12% | |
| 15 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 1.14% | +0.85% | -0.61% | |
| 16 | SMCI 3.5 03-01-29債券 | Super Micro Computer Inc | 債券 | 0.91% | — | — | |
| 17 | O | Realty Income CORP | 股票-房地產 | 0.88% | — | +0.01% | |
| 18 | MARA 0 06-01-31債券 | Mara Holdings Inc | 債券 | 0.85% | -1.30% | EXIT | |
| 19 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 0.84% | +0.63% | +0.44% | |
| 20 | EFA | Ishares Msci Eafe ETF | ETF-其他 | 0.83% | +0.57% | +0.40% | |
| 21 | DKS | Dick's Sporting Goods Inc | 股票-循環性消費 | 0.82% | -0.23% | -25.30% | |
| 22 | RITM | Rithm Capital CORP | 股票-房地產 | 0.80% | +0.65% | — | |
| 23 | HPK | Highpeak Energy Inc | 股票-其他 | 0.66% | -0.55% | EXIT | |
| 24 | GVA 3.25 06-15-30債券 | Granite Construction Inc | 債券 | 0.65% | — | — | |
| 25 | ADX | Adams Diversified Equity | 股票-其他 | 0.62% | +0.52% | -1.51% | |
| 26 | CSQ | Calamos Strat Ttl Rtrn Fnd | 股票-其他 | 0.58% | +0.51% | -2.02% | |
| 27 | CGBD | Carlyle Secured Lending Inc | 股票-其他 | 0.56% | +0.23% | +0.97% | |
| 28 | HASI | Ha Sustainable Infrastructur | 股票-金融 | 0.56% | -0.90% | EXIT | |
| 29 | APO | Apollo Global Management Inc | 股票-金融 | 0.55% | +0.28% | +0.05% | |
| 30 | XNIEX | Virtus Equity & Convertible | 股票-其他 | 0.54% | +0.45% | — | |
| 31 | XAWFX | Alliancebernstein Gl Hi Inc | 股票-其他 | 0.53% | +0.29% | +0.23% | |
| 32 | XGDVX | Gabelli Dividend & Income Tr | 股票-其他 | 0.51% | +0.39% | -0.09% | |
| 33 | FUBOGBP | Fubotv Inc | 股票-其他 | 0.51% | — | -0.40% | |
| 34 | LYFT 0.625 03-01-29債券 | Lyft Inc | 債券 | 0.49% | +1.03% | — | |
| 35 | BTZ | Blackrock Credit Allocation | 股票-其他 | 0.48% | +0.26% | -1.15% | |
| 36 | HYT | Blackrock CORP Hi Yld | 股票-其他 | 0.48% | +0.28% | +0.01% | |
| 37 | IIPR | Innovative Industrial Proper | 股票-房地產 | 0.47% | +1.74% | — | |
| 38 | XEVTX | Eaton Vance Tax-adv Dvd Inc | 股票-其他 | 0.46% | +0.39% | +0.22% | |
| 39 | NXDT | Nexpoint Diversified Real Es | 股票-其他 | 0.46% | +0.45% | -3.20% | |
| 40 | WT | Wisdomtree Inc | 股票-其他 | 0.44% | +0.67% | +0.03% | |
| 41 | TPG | Tpg Inc | 股票-金融 | 0.44% | — | — | |
| 42 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 0.44% | +0.44% | — | |
| 43 | BL 1 06-01-29債券 | Blackline Inc | 債券 | 0.43% | -0.53% | EXIT | |
| 44 | AMT | American Tower CORP | 股票-房地產 | 0.43% | -0.59% | EXIT | |
| 45 | HTD | John Hancock Tax Adv Dvd Inc | 股票-其他 | 0.42% | +0.30% | -0.67% | |
| 46 | RQI | Cohen & Steers Qual Inc Rlty | 股票-其他 | 0.35% | +0.23% | +0.17% | |
| 47 | SLQT | Selectquote Inc | 股票-其他 | 0.34% | +0.17% | -0.28% | |
| 48 | BIT | Blackrock Multi-sector Inc | 股票-其他 | 0.34% | +0.19% | +0.34% | |
| 49 | NAD | Nuveen Quality Municipal Inc | 股票-其他 | 0.30% | +0.18% | — | |
| 50 | XNEAX | Nuveen Amt-fr Qlty Muni Inc | 股票-其他 | 0.29% | +0.17% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | TRIN | Trinity Capital Inc | +0.8% | +22.90% | 加碼 |
| 2 | CSWC | Capital Southwest CORP | +0.4% | +2.48% | 加碼 |
| 3 | WT 3.25 06-15-26債券 | Wisdomtree Investments | +0.3% | — | 不變 |
| 4 | CSWC 5.125 11-15-29債券 | Capital Southwest CORP | +0.3% | -0.73% | 減碼 |
| 5 | CG | Carlyle Group Inc/the | +0.2% | -0.63% | 減碼 |
| 6 | MAIN | Main Street Capital CORP | +0.2% | +1.10% | 加碼 |
| 7 | VICI | Vici Properties Inc | +0.1% | +11.34% | 加碼 |
| 8 | HTGC | Hercules Capital Inc | +0.1% | +1.23% | 加碼 |
| 9 | APO | Apollo Global Management Inc | +0.1% | +0.05% | 加碼 |
| 10 | NXDT | Nexpoint Diversified Real Es | +0.1% | -3.20% | 減碼 |
| 11 | GVA 3.25 06-15-30債券 | Granite Construction Inc | +0.1% | — | 不變 |
| 12 | EFA | Ishares Msci Eafe ETF | 0% | +0.40% | 加碼 |
| 13 | XGDVX | Gabelli Dividend & Income Tr | 0% | -0.09% | 減碼 |
| 14 | XEVTX | Eaton Vance Tax-adv Dvd Inc | 0% | +0.22% | 加碼 |
| 15 | WT | Wisdomtree Inc | — | +0.03% | 加碼 |
| 16 | RITM | Rithm Capital CORP | — | — | 不變 |
| 17 | AFB | Allianceberstein Ntl Muni | — | — | 不變 |
| 18 | BIT | Blackrock Multi-sector Inc | — | +0.34% | 加碼 |
| 19 | NAD | Nuveen Quality Municipal Inc | — | — | 不變 |
| 20 | XNEAX | Nuveen Amt-fr Qlty Muni Inc | — | — | 不變 |
| 21 | TEI | Templeton Emrg Mkts Inc | — | +0.22% | 加碼 |
| 22 | CSQ | Calamos Strat Ttl Rtrn Fnd | 0% | -2.02% | 減碼 |
| 23 | XAWFX | Alliancebernstein Gl Hi Inc | 0% | +0.23% | 加碼 |
| 24 | QQQ | Invesco Qqq Trust Series 1 | 0% | — | 不變 |
| 25 | ADX | Adams Diversified Equity | 0% | -1.51% | 減碼 |
| 26 | AMT | American Tower CORP | 0% | — | 不變 |
| 27 | BL 1 06-01-29債券 | Blackline Inc | 0% | — | 不變 |
| 28 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | -0.61% | 減碼 |
| 29 | EIM | Eaton Vance Municipal Bond | 0% | — | 不變 |
| 30 | CGBD | Carlyle Secured Lending Inc | 0% | +0.97% | 加碼 |
| 31 | AFCG | Advanced Flower Capital Inc | 0% | — | 不變 |
| 32 | BTZ | Blackrock Credit Allocation | 0% | -1.15% | 減碼 |
| 33 | RQI | Cohen & Steers Qual Inc Rlty | 0% | +0.17% | 加碼 |
| 34 | VWO | Vanguard Ftse Emerging Marke | 0% | +0.44% | 加碼 |
| 35 | LYFT 0.625 03-01-29債券 | Lyft Inc | 0% | — | 不變 |
| 36 | IIPR | Innovative Industrial Proper | 0% | — | 不變 |
| 37 | O | Realty Income CORP | 0% | +0.01% | 加碼 |
| 38 | HTD | John Hancock Tax Adv Dvd Inc | 0% | -0.67% | 減碼 |
| 39 | XNIEX | Virtus Equity & Convertible | 0% | — | 不變 |
| 40 | HYT | Blackrock CORP Hi Yld | 0% | +0.01% | 加碼 |
| 41 | CIVI | Civitas Resources Inc | -0.1% | +0.00% | 加碼 |
| 42 | WT 3.25 08-15-29債券 | Wisdomtree Inc | -0.1% | -9.12% | 減碼 |
| 43 | OWL | Blue Owl Capital Inc | -0.1% | -0.20% | 減碼 |
| 44 | PSEC | Prospect Capital CORP | -0.1% | -2.82% | 減碼 |
| 45 | SLQT | Selectquote Inc | -0.2% | -0.28% | 減碼 |
| 46 | HASI | Ha Sustainable Infrastructur | -0.2% | -37.21% | 減碼 |
| 47 | FUBOGBP | Fubotv Inc | -0.3% | -0.40% | 減碼 |
| 48 | GROW | U.s. Global Investors Inc-a | -0.3% | -55.11% | 減碼 |
| 49 | HPK | Highpeak Energy Inc | -0.3% | -0.69% | 減碼 |
| 50 | DKS | Dick's Sporting Goods Inc | -0.4% | -25.30% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Smh Capital Advisors Inc 在 Q4 2025 季度的美股持倉總市值約為 US$2551.2萬，共申報了 55 個公開持股部位。
在 Q4 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 (24.5%)、WT 3.25 06-15-26 (22.0%)、TRIN (5.1%)。其中最大持股部位 CSWC 5.125 11-15-29 佔據整體投資組合約 24.5% 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
RIOT 0.75 01-15-30
市值: US$124.2萬
本季最大獲利了結 / 清倉標的
CSWC 5.125 11-15-29
前期市值: US$1188.7萬
在 Q4 2025 季度中，Smh Capital Advisors Inc 共進行了 41 項持倉異動，包含新建倉 4 個部位、加碼 18 個部位、減碼 19 個部位以及清倉 0 個部位。 其中最大新建倉標的為 RIOT 0.75 01-15-30。
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。