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: 0001446179
申報總市值
US$53.2億
US$53.2億
549 檔
5.2%
根據最新整理的 13F 季度數據集，Susquehanna Fundamental Investments, LLC 於 Q4 2025 結束時的管理資產規模為 US$53.2億。該機構在本季度申報了 549 檔美股持倉，呈現出該時期的主要投資地圖。
Susquehanna Fundamental Investments, LLC 在 Q4 2025 進行了結構性的板塊輪動與部位換股。在開立 48 個全新部位及加碼 53 檔持股的同時，亦同步清倉 53 檔並減碼 36 檔標的。
整體而言，Susquehanna Fundamental Investments, LLC 的前 5 大持股（包含 CRM, GD, ADP）貢獻了組合市值的 5.2%，形成該機構在 Q4 2025 季度的基本面基石。
僅顯示前 200 大持股（共 549 檔）
| # | 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 | CRM | Salesforce Inc | 股票-科技 | 2.05% | — | +20.89% | |
| 2 | GD | General Dynamics CORP | 股票-工業 | 1.96% | +0.50% | NEW | |
| 3 | ADP | Automatic Data Processing | 股票-科技 | 1.89% | -0.76% | +3003.92% | |
| 4 | C | Citigroup Inc | 股票-金融 | 1.78% | +0.01% | NEW | |
| 5 | CTAS | Cintas CORP | 股票-工業 | 1.72% | -0.53% | EXIT | |
| 6 | MRSH | Marsh & Mclennan Cos | 股票-金融 | 1.69% | — | — | |
| 7 | CME | Cme Group Inc | 股票-金融 | 1.69% | -1.27% | — | |
| 8 | ADBE | Adobe Inc | 股票-科技 | 1.67% | -2.18% | — | |
| 9 | MNST | Monster Beverage CORP | 股票-非循環性消費 | 1.66% | +0.04% | NEW | |
| 10 | PAYX | Paychex Inc | 股票-科技 | 1.61% | -0.38% | — | |
| 11 | CM | Can Imperial Bk Of Commerce | 股票-金融 | 1.54% | -1.18% | -13.31% | |
| 12 | PCAR | Paccar Inc | 股票-工業 | 1.35% | -0.94% | +824.06% | |
| 13 | DELL | Dell Technologies -c | 股票-科技 | 1.34% | +0.59% | NEW | |
| 14 | MSI | Motorola Solutions Inc | 股票-科技 | 1.29% | -0.71% | +149.91% | |
| 15 | CCJ | Cameco CORP | 股票-能源 | 1.28% | -1.59% | — | |
| 16 | PYPL | Paypal Holdings Inc | 股票-金融 | 1.24% | +0.13% | — | |
| 17 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 1.16% | +0.19% | NEW | |
| 18 | CB | Chubb Limited | 股票-金融 | 1.14% | +0.04% | +53.18% | |
| 19 | FAST | Fastenal Co | 股票-工業 | 1.13% | -1.12% | — | |
| 20 | STLD | Steel Dynamics Inc | 股票-原物料 | 1.10% | -0.67% | EXIT | |
| 21 | NDAQ | Nasdaq Inc | 股票-金融 | 1.09% | +0.33% | NEW | |
| 22 | EA | Electronic Arts Inc | 股票-通訊服務 | 1.07% | +0.04% | NEW | |
| 23 | HCA | Hca Healthcare Inc | 股票-醫療保健 | 1.06% | — | — | |
| 24 | VRSN | Verisign Inc | 股票-科技 | 1.04% | -0.32% | — | |
| 25 | BX | Blackstone Inc | 股票-金融 | 0.96% | +0.44% | — | |
| 26 | STT | State Street CORP | 股票-金融 | 0.95% | -0.03% | +4.38% | |
| 27 | LII | Lennox International Inc | 股票-工業 | 0.91% | -0.33% | — | |
| 28 | BA | Boeing Co/the | 股票-工業 | 0.88% | — | — | |
| 29 | WDAY | Workday Inc-class A | 股票-科技 | 0.87% | +0.89% | NEW | |
| 30 | DG | Dollar General CORP | 股票-非循環性消費 | 0.86% | — | -37.66% | |
| 31 | SSNC | Ss&c Technologies Holdings | 股票-科技 | 0.84% | — | +696.76% | |
| 32 | FE | Firstenergy CORP | 股票-公用事業 | 0.80% | — | -6.60% | |
| 33 | HSY | Hershey Co/the | 股票-非循環性消費 | 0.78% | -0.24% | EXIT | |
| 34 | WAB | Wabtec CORP | 股票-工業 | 0.77% | -0.03% | +199.22% | |
| 35 | EXPD | Expeditors Intl Wash Inc | 股票-工業 | 0.77% | -0.35% | — | |
| 36 | TXT | Textron Inc | 股票-工業 | 0.75% | +0.19% | — | |
| 37 | LMT | Lockheed Martin CORP | 股票-工業 | 0.72% | — | — | |
| 38 | YUM | Yum! Brands Inc | 股票-循環性消費 | 0.72% | +0.04% | NEW | |
| 39 | IR | Ingersoll-rand Inc | 股票-工業 | 0.71% | -0.58% | +55.47% | |
| 40 | NEM | Newmont CORP | 股票-原物料 | 0.71% | +0.06% | NEW | |
| 41 | COF | Capital One Financial CORP | 股票-金融 | 0.64% | — | — | |
| 42 | AWK | American Water Works Co Inc | 股票-公用事業 | 0.64% | — | -18.45% | |
| 43 | RY | Royal Bank Of Canada | 股票-金融 | 0.63% | -0.18% | +44.24% | |
| 44 | WM | Waste Management Inc | 股票-工業 | 0.63% | +0.25% | -36.32% | |
| 45 | WDC | Western Digital CORP | 股票-科技 | 0.62% | — | — | |
| 46 | NVR | Nvr Inc | 股票-循環性消費 | 0.60% | — | -21.49% | |
| 47 | OMF | Onemain Holdings Inc | 股票-金融 | 0.55% | -0.34% | +1328.63% | |
| 48 | DBX | Dropbox Inc-class A | 股票-科技 | 0.54% | — | +223.77% | |
| 49 | COR | Cencora Inc | 股票-醫療保健 | 0.53% | — | -11.86% | |
| 50 | TRU | Transunion | 股票-金融 | 0.52% | -0.37% | +1559.81% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ADP | Automatic Data Processing | +1.8% | +3003.92% | 加碼 |
| 2 | PCAR | Paccar Inc | +1.2% | +824.06% | 加碼 |
| 3 | NDAQ | Nasdaq Inc | +0.9% | +458.78% | 加碼 |
| 4 | SSNC | Ss&c Technologies Holdings | +0.7% | +696.76% | 加碼 |
| 5 | WDAY | Workday Inc-class A | +0.7% | +509.46% | 加碼 |
| 6 | MSI | Motorola Solutions Inc | +0.6% | +149.91% | 加碼 |
| 7 | OMF | Onemain Holdings Inc | +0.5% | +1328.63% | 加碼 |
| 8 | WAB | Wabtec CORP | +0.5% | +199.22% | 加碼 |
| 9 | TRU | Transunion | +0.5% | +1559.81% | 加碼 |
| 10 | TT | Trane Technologies plc | +0.4% | +1008.74% | 加碼 |
| 11 | CB | Chubb Limited | +0.4% | +53.18% | 加碼 |
| 12 | FCNCA | First Citizens Bcshs -cl A | +0.4% | +242.12% | 加碼 |
| 13 | PTC | Ptc Inc | +0.4% | +692.36% | 加碼 |
| 14 | DBX | Dropbox Inc-class A | +0.3% | +223.77% | 加碼 |
| 15 | CRM | Salesforce Inc | +0.3% | +20.89% | 加碼 |
| 16 | ACGL | Arch Capital Group Ltd. | +0.3% | +474.67% | 加碼 |
| 17 | GIB | Cgi Inc | +0.3% | +145.73% | 加碼 |
| 18 | DCI | Donaldson Co Inc | +0.2% | +258.63% | 加碼 |
| 19 | B | Barrick Mining CORP | +0.2% | +95.69% | 加碼 |
| 20 | QTWO | Q2 Holdings Inc | +0.2% | +218.92% | 加碼 |
| 21 | MATX | Matson Inc | +0.2% | +478.29% | 加碼 |
| 22 | RY | Royal Bank Of Canada | +0.2% | +44.24% | 加碼 |
| 23 | MFC | Manulife Financial CORP | +0.2% | +159.90% | 加碼 |
| 24 | RLI | Rli CORP | +0.2% | +350.98% | 加碼 |
| 25 | JHG | Janus Henderson Group plc | +0.2% | +171.97% | 加碼 |
| 26 | BL | Blackline Inc | +0.2% | +1966.61% | 加碼 |
| 27 | AL | Air Lease CORP | +0.2% | +90.32% | 加碼 |
| 28 | TRV | Travelers Cos Inc/the | +0.2% | +116.71% | 加碼 |
| 29 | GVA | Granite Construction Inc | +0.2% | +865.58% | 加碼 |
| 30 | AMTM | Amentum Holdings Inc | +0.2% | +304.75% | 加碼 |
| 31 | IR | Ingersoll-rand Inc | +0.2% | +55.47% | 加碼 |
| 32 | RNR | RenaissanceRe Holdings Ltd. | +0.2% | +51.45% | 加碼 |
| 33 | FCX | Freeport-mcmoran Inc | +0.1% | — | 不變 |
| 34 | GPCR | Structure Therapeutics Inc | +0.1% | — | 不變 |
| 35 | KNSL | Kinsale Capital Group Inc | +0.1% | +560.10% | 加碼 |
| 36 | WDC | Western Digital CORP | +0.1% | — | 不變 |
| 37 | MAIN | Main Street Capital CORP | +0.1% | +411.61% | 加碼 |
| 38 | APPN | Appian Corp-a | +0.1% | +988.46% | 加碼 |
| 39 | SAIA | Saia Inc | +0.1% | +76.74% | 加碼 |
| 40 | TDG | Transdigm Group Inc | +0.1% | +239.06% | 加碼 |
| 41 | UHAL-B | U-haul Holding Co-non Voting | +0.1% | +1007.68% | 加碼 |
| 42 | AON | Aon plc | +0.1% | +72.11% | 加碼 |
| 43 | OPLN | Openlane Inc | +0.1% | +197.07% | 加碼 |
| 44 | GNW | Genworth Financial Inc | +0.1% | +342.90% | 加碼 |
| 45 | ATI | Ati Inc | +0.1% | +13.86% | 加碼 |
| 46 | CNXC | Concentrix CORP | +0.1% | +92.85% | 加碼 |
| 47 | DT | Dynatrace Inc | +0.1% | +218.10% | 加碼 |
| 48 | DJCO | Daily Journal CORP | +0.1% | +367.38% | 加碼 |
| 49 | WTFC | Wintrust Financial CORP | +0.1% | +101.39% | 加碼 |
| 50 | SU | Suncor Energy Inc | +0.1% | +40.19% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Susquehanna Fundamental Investments, LLC 在 Q4 2025 季度的美股持倉總市值約為 US$53.2億，共申報了 549 個公開持股部位。
在 Q4 2025 季度，Susquehanna Fundamental Investments, LLC 按市值排列的前三大核心持股分別為：CRM (2.0%)、GD (2.0%)、ADP (1.9%)。其中最大持股部位 CRM 佔據整體投資組合約 2.0% 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
CTAS
市值: US$5057.5萬
本季最大獲利了結 / 清倉標的
HON
前期市值: US$5110.6萬
在 Q4 2025 季度中，Susquehanna Fundamental Investments, LLC 共進行了 190 項持倉異動，包含新建倉 48 個部位、加碼 53 個部位、減碼 36 個部位以及清倉 53 個部位。 其中最大新建倉標的為 CTAS。 本季清倉部位包含 HON。
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。