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: 0001346554
申報總市值
US$70.9億
US$70.9億
302 檔
12.6%
在 Q1 2025 申報期間，TENOR CAPITAL MANAGEMENT Co., L.P.（CIK: 0001346554）向美國 SEC 提交的 Form 13F 報告顯示，其追蹤之股票投資組合總市值達 US$70.9億，共持有 302 個公開申報部位。
TENOR CAPITAL MANAGEMENT Co., L.P. 於 Q1 2025 展現出進攻型調倉步調，本季推動了 183 檔股票的新建倉與 6 檔既有部位加碼，整體資金傾向擴大在美股市場的曝險佈局。
從部位權重觀察，前 5 大標的（包含 HUBS 0.375 06-01-25, RNG 0 03-15-26, DXCM 0.25 11-15-25）累計市值佔比達 12.6%，是驅動 TENOR CAPITAL MANAGEMENT Co., L.P. 該季度整體投資組合績效表現的核心支柱。
本季最大新建倉標的
RNG 0 03-15-26
市值: US$2038.7億
本季最大獲利了結 / 清倉標的
MTCH 0.875 10-01-22
前期市值: US$3.3億
僅顯示前 200 大持股（共 302 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 | HUBS 0.375 06-01-25債券 | Hubspot Inc | 債券 | 3.32% | — | -0.89% | |
| 2 | RNG 0 03-15-26債券 | Ringcentral Inc | 債券 | 2.91% | — | +42.13% | |
| 3 | DXCM 0.25 11-15-25債券 | Dexcom Inc | 債券 | 2.45% | — | -1.88% | |
| 4 | NET 0 08-15-26債券 | Cloudflare Inc | 債券 | 2.12% | -0.41% | +47.86% | |
| 5 | TDOC 0.875 06-01-25債券 | Livongo Health | 債券 | 1.97% | — | — | |
| 6 | DOCN 0 12-01-26債券 | Digitalocean Holdings | 債券 | 1.86% | -0.68% | +285.82% | |
| 7 | ZS 0.125 07-01-25債券 | Zscaler Inc. | 債券 | 1.86% | — | -1.01% | |
| 8 | FOUR 0 12-15-25債券 | Shift4 Payments Inc | 債券 | 1.80% | — | +32.28% | |
| 9 | BSY 0.125 01-15-26債券 | Bentley Systems Inc | 債券 | 1.78% | — | +39.49% | |
| 10 | LYFT 1.5 05-15-25債券 | Lyft Inc | 債券 | 1.65% | — | — | |
| 11 | TRIP 0.25 04-01-26債券 | Tripadvisor Inc | 債券 | 1.59% | — | +0.01% | |
| 12 | FIVN 0.5 06-01-25債券 | Five9 Inc | 債券 | 1.56% | — | — | |
| 13 | EVH 1.5 10-15-25債券 | Evolent Health Inc | 債券 | 1.53% | — | — | |
| 14 | HAE 0 03-01-26債券 | Haemonetics CORP | 債券 | 1.52% | — | +11.10% | |
| 15 | JAMF 0.125 09-01-26債券 | Jamf Holding CORP | 債券 | 1.46% | — | +66.53% | |
| 16 | VIAV 1.625 03-15-26債券 | Viavi Solutions Inc | 債券 | 1.43% | — | +22.97% | |
| 17 | JAZZ 2 06-15-26債券 | Jazz Investments I LTD | 債券 | 1.38% | -1.46% | EXIT | |
| 18 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | 債券 | 1.36% | -6.01% | EXIT | |
| 19 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | 債券 | 1.36% | -0.24% | +18.28% | |
| 20 | IONS 0 04-01-26債券 | Ionis Pharmaceuticals In | 債券 | 1.36% | — | +8.19% | |
| 21 | NVCR 0 11-01-25債券 | Novocure LTD | 債券 | 1.35% | — | — | |
| 22 | ABNB 0 03-15-26債券 | Airbnb Inc | 債券 | 1.33% | — | -15.22% | |
| 23 | U 0 11-15-26債券 | Unity Software Inc | 債券 | 1.29% | -0.15% | -53.51% | |
| 24 | ZD 3.625 03-01-28債券 | Ziff Davis Inc | 債券 | 1.26% | -0.27% | -5.03% | |
| 25 | IDCC 3.5 06-01-27債券 | Interdigital Inc | 債券 | 1.24% | — | +256.86% | |
| 26 | IART 0.5 08-15-25債券 | Integra Lifesciences Hld | 債券 | 1.21% | — | +1.77% | |
| 27 | WIX 0 08-15-25債券 | Wix LTD | 債券 | 1.17% | — | -16.50% | |
| 28 | X 5 11-01-26債券 | United States Steel CORP | 債券 | 1.14% | — | — | |
| 29 | ITRI 0 03-15-26債券 | Itron Inc | 債券 | 1.10% | — | -9.64% | |
| 30 | RPD 0.25 03-15-27債券 | Rapid7 Inc | 債券 | 1.09% | -0.50% | +7.56% | |
| 31 | SRPT 1.25 09-15-27債券 | Sarepta Therapeutics Inc | 債券 | 1.09% | — | +48.18% | |
| 32 | HCAT 2.5 04-15-25債券 | Health Catalyst Inc | 債券 | 1.08% | — | — | |
| 33 | BL 0 03-15-26債券 | Blackline Inc | 債券 | 1.08% | — | — | |
| 34 | FVRR 0 11-01-25債券 | Fiverr International LTD | 債券 | 1.08% | — | +4.12% | |
| 35 | INFN 3.75 08-01-28債券 | Infinera CORP | 債券 | 1.07% | — | — | |
| 36 | UPWK 0.25 08-15-26債券 | Upwork Inc | 債券 | 1.06% | -0.09% | +6.28% | |
| 37 | AKAM 0.375 09-01-27債券 | Akamai Technologies Inc | 債券 | 1.05% | -0.12% | — | |
| 38 | JBTM 0.25 05-15-26債券 | Jbt Marel CORP | 債券 | 1.05% | -1.54% | EXIT | |
| 39 | SO 3.875 12-15-25債券 | Southern Co | 債券 | 1.05% | — | — | |
| 40 | IMAX 0.5 04-01-26債券 | Imax CORP | 債券 | 1.04% | — | +32.93% | |
| 41 | DAY 0.25 03-15-26債券 | Dayforce Inc | 債券 | 1.02% | — | -30.50% | |
| 42 | PODD 0.375 09-01-26債券 | Insulet Corporation | 債券 | 1.01% | — | — | |
| 43 | DDOG 0.125 06-15-25債券 | Datadog Inc | 債券 | 1.01% | — | — | |
| 44 | VRNS 1.25 08-15-25債券 | Varonis System Inc | 債券 | 0.99% | — | +3.49% | |
| 45 | GVA 3.75 05-15-28債券 | Granite Construction Inc | 債券 | 0.99% | — | — | |
| 46 | BSY 0.375 07-01-27債券 | Bentley Systems | 債券 | 0.94% | -0.08% | +133.72% | |
| 47 | NEO 0.25 01-15-28債券 | Neogenomics Inc | 債券 | 0.93% | -1.27% | +24.95% | |
| 48 | CNMD 2.25 06-15-27債券 | Conmed CORP | 債券 | 0.91% | -1.89% | EXIT | |
| 49 | LRN 1.125 09-01-27債券 | Stride Inc | 債券 | 0.88% | +0.14% | +18.43% | |
| 50 | EXAS 0.375 03-01-28債券 | Exact Sciences CORP | 債券 | 0.88% | — | +94.44% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | HUBS 0.375 06-01-25債券 | Hubspot Inc | +3.1% | -0.89% | 加碼 |
| 2 | DXCM 0.25 11-15-25債券 | Dexcom Inc | +1.7% | -1.88% | 加碼 |
| 3 | APLS 3.5 09-15-26債券 | Apellis Pharmaceuticals | +0.1% | — | 加碼 |
| 4 | VREX 4 06-01-25債券 | Varex Imaging Corporatio | +0.1% | — | 加碼 |
| 5 | GCMGW | Gcm Grosvenor Inc A -cw25 | 0% | — | 不變 |
| 6 | OKTA 0.375 06-15-26債券 | Okta Inc | -0.1% | +182.82% | 加碼 |
| 7 | NEO 1.25 05-01-25債券 | Neogenomics Inc | -0.2% | +0.08% | 加碼 |
| 8 | WK 1.125 08-15-26債券 | Workiva Inc | -0.5% | — | 減碼 |
| 9 | OKTA 0.125 09-01-25債券 | Okta Inc | -0.6% | — | 減碼 |
| 10 | RPD 2.25 05-01-25債券 | Rapid7 Inc | -1.1% | — | 減碼 |
| 11 | RNG 0 03-15-26債券 | Ringcentral Inc | — | NEW | 新建倉 |
| 12 | NET 0 08-15-26債券 | Cloudflare Inc | — | NEW | 新建倉 |
| 13 | TDOC 0.875 06-01-25債券 | Livongo Health | — | NEW | 新建倉 |
| 14 | DOCN 0 12-01-26債券 | Digitalocean Holdings | — | NEW | 新建倉 |
| 15 | ZS 0.125 07-01-25債券 | Zscaler Inc. | — | NEW | 新建倉 |
| 16 | FOUR 0 12-15-25債券 | Shift4 Payments Inc | — | NEW | 新建倉 |
| 17 | BSY 0.125 01-15-26債券 | Bentley Systems Inc | — | NEW | 新建倉 |
| 18 | LYFT 1.5 05-15-25債券 | Lyft Inc | — | NEW | 新建倉 |
| 19 | TRIP 0.25 04-01-26債券 | Tripadvisor Inc | — | NEW | 新建倉 |
| 20 | FIVN 0.5 06-01-25債券 | Five9 Inc | — | NEW | 新建倉 |
| 21 | EVH 1.5 10-15-25債券 | Evolent Health Inc | — | NEW | 新建倉 |
| 22 | HAE 0 03-01-26債券 | Haemonetics CORP | — | NEW | 新建倉 |
| 23 | JAMF 0.125 09-01-26債券 | Jamf Holding CORP | — | NEW | 新建倉 |
| 24 | VIAV 1.625 03-15-26債券 | Viavi Solutions Inc | — | NEW | 新建倉 |
| 25 | JAZZ 2 06-15-26債券 | Jazz Investments I LTD | — | NEW | 新建倉 |
| 26 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | — | NEW | 新建倉 |
| 27 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | — | NEW | 新建倉 |
| 28 | IONS 0 04-01-26債券 | Ionis Pharmaceuticals In | — | NEW | 新建倉 |
| 29 | NVCR 0 11-01-25債券 | Novocure LTD | — | NEW | 新建倉 |
| 30 | ABNB 0 03-15-26債券 | Airbnb Inc | — | NEW | 新建倉 |
| 31 | U 0 11-15-26債券 | Unity Software Inc | — | NEW | 新建倉 |
| 32 | ZD 3.625 03-01-28債券 | Ziff Davis Inc | — | NEW | 新建倉 |
| 33 | IDCC 3.5 06-01-27債券 | Interdigital Inc | — | NEW | 新建倉 |
| 34 | IART 0.5 08-15-25債券 | Integra Lifesciences Hld | — | NEW | 新建倉 |
| 35 | WIX 0 08-15-25債券 | Wix LTD | — | NEW | 新建倉 |
| 36 | X 5 11-01-26債券 | United States Steel CORP | — | NEW | 新建倉 |
| 37 | ITRI 0 03-15-26債券 | Itron Inc | — | NEW | 新建倉 |
| 38 | RPD 0.25 03-15-27債券 | Rapid7 Inc | — | NEW | 新建倉 |
| 39 | SRPT 1.25 09-15-27債券 | Sarepta Therapeutics Inc | — | NEW | 新建倉 |
| 40 | HCAT 2.5 04-15-25債券 | Health Catalyst Inc | — | NEW | 新建倉 |
| 41 | BL 0 03-15-26債券 | Blackline Inc | — | NEW | 新建倉 |
| 42 | FVRR 0 11-01-25債券 | Fiverr International LTD | — | NEW | 新建倉 |
| 43 | INFN 3.75 08-01-28債券 | Infinera CORP | — | NEW | 新建倉 |
| 44 | UPWK 0.25 08-15-26債券 | Upwork Inc | — | NEW | 新建倉 |
| 45 | AKAM 0.375 09-01-27債券 | Akamai Technologies Inc | — | NEW | 新建倉 |
| 46 | JBTM 0.25 05-15-26債券 | Jbt Marel CORP | — | NEW | 新建倉 |
| 47 | SO 3.875 12-15-25債券 | Southern Co | — | NEW | 新建倉 |
| 48 | IMAX 0.5 04-01-26債券 | Imax CORP | — | NEW | 新建倉 |
| 49 | DAY 0.25 03-15-26債券 | Dayforce Inc | — | NEW | 新建倉 |
| 50 | PODD 0.375 09-01-26債券 | Insulet Corporation | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，TENOR CAPITAL MANAGEMENT Co., L.P. 在 Q1 2025 季度的美股持倉總市值約為 US$70.9億，共申報了 302 個公開持股部位。
在 Q1 2025 季度，TENOR CAPITAL MANAGEMENT Co., L.P. 按市值排列的前三大核心持股分別為：HUBS 0.375 06-01-25 (3.3%)、RNG 0 03-15-26 (2.9%)、DXCM 0.25 11-15-25 (2.5%)。其中最大持股部位 HUBS 0.375 06-01-25 佔據整體投資組合約 3.3% 的權重。
在 Q1 2025 季度中，TENOR CAPITAL MANAGEMENT Co., L.P. 共進行了 199 項持倉異動，包含新建倉 183 個部位、加碼 6 個部位、減碼 3 個部位以及清倉 7 個部位。 其中最大新建倉標的為 RNG 0 03-15-26。 本季清倉部位包含 MTCH 0.875 10-01-22。
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。
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。
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。