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
363 檔
13.8%
在 Q2 2025 的 13F 官方備案中，TENOR CAPITAL MANAGEMENT Co., L.P. 管理的美股投資組合規模來到 US$70.9億，整體持股檔數為 363 檔。
Q2 2025 數據顯示 TENOR CAPITAL MANAGEMENT Co., L.P. 積極進場，新開立 77 個部位並同步加碼 49 檔個股，反映機構在該季度的資金注入與籌碼積累。
從部位權重觀察，前 5 大標的（包含 CCL 5.75 12-01-27, NET 0 08-15-26, RNG 0 03-15-26）累計市值佔比達 13.8%，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。
僅顯示前 200 大持股（共 363 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 | CCL 5.75 12-01-27債券 | Carnival CORP | 債券 | 3.28% | — | — | |
| 2 | NET 0 08-15-26債券 | Cloudflare Inc | 債券 | 2.60% | -0.41% | +9.81% | |
| 3 | RNG 0 03-15-26債券 | Ringcentral Inc | 債券 | 2.60% | — | -6.19% | |
| 4 | DXCM 0.25 11-15-25債券 | Dexcom Inc | 債券 | 2.54% | — | +8.55% | |
| 5 | IDCC 3.5 06-01-27債券 | Interdigital Inc | 債券 | 2.17% | — | +70.15% | |
| 6 | U 0 11-15-26債券 | Unity Software Inc | 債券 | 2.12% | -0.15% | +71.83% | |
| 7 | AKAM 0.375 09-01-27債券 | Akamai Technologies Inc | 債券 | 1.88% | -0.12% | +89.46% | |
| 8 | FOUR 0 12-15-25債券 | Shift4 Payments Inc | 債券 | 1.88% | — | +0.45% | |
| 9 | BSY 0.125 01-15-26債券 | Bentley Systems Inc | 債券 | 1.86% | — | +7.05% | |
| 10 | DOCN 0 12-01-26債券 | Digitalocean Holdings | 債券 | 1.77% | -0.68% | — | |
| 11 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | 債券 | 1.62% | -0.24% | +25.61% | |
| 12 | HAE 0 03-01-26債券 | Haemonetics CORP | 債券 | 1.56% | — | +6.59% | |
| 13 | VIAV 1.625 03-15-26債券 | Viavi Solutions Inc | 債券 | 1.51% | — | +18.58% | |
| 14 | TRIP 0.25 04-01-26債券 | Tripadvisor Inc | 債券 | 1.51% | — | — | |
| 15 | EVH 1.5 10-15-25債券 | Evolent Health Inc | 債券 | 1.45% | — | — | |
| 16 | IONS 0 04-01-26債券 | Ionis Pharmaceuticals In | 債券 | 1.45% | — | +10.39% | |
| 17 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | 債券 | 1.44% | -6.01% | EXIT | |
| 18 | JAMF 0.125 09-01-26債券 | Jamf Holding CORP | 債券 | 1.38% | — | — | |
| 19 | CNMD 2.25 06-15-27債券 | Conmed CORP | 債券 | 1.32% | -1.89% | EXIT | |
| 20 | NVCR 0 11-01-25債券 | Novocure LTD | 債券 | 1.29% | — | — | |
| 21 | MCHP 0.75 06-01-30債券 | Microchip Technology Inc | 債券 | 1.28% | -0.06% | — | |
| 22 | CFLT 0 01-15-27債券 | Confluent Inc | 債券 | 1.26% | — | +300.42% | |
| 23 | JAZZ 2 06-15-26債券 | Jazz Investments I LTD | 債券 | 1.21% | -1.46% | EXIT | |
| 24 | ZD 3.625 03-01-28債券 | Ziff Davis Inc | 債券 | 1.21% | -0.27% | — | |
| 25 | DAY 0.25 03-15-26債券 | Dayforce Inc | 債券 | 1.17% | — | +20.00% | |
| 26 | VRNS 1.25 08-15-25債券 | Varonis System Inc | 債券 | 1.16% | — | +0.19% | |
| 27 | IART 0.5 08-15-25債券 | Integra Lifesciences Hld | 債券 | 1.16% | — | — | |
| 28 | MSTR 0.625 03-15-30債券 | Strategy Inc | 債券 | 1.13% | -0.10% | +100.00% | |
| 29 | GVA 3.75 05-15-28債券 | Granite Construction Inc | 債券 | 1.13% | — | — | |
| 30 | RPD 0.25 03-15-27債券 | Rapid7 Inc | 債券 | 1.12% | -0.50% | +7.57% | |
| 31 | WIX 0 08-15-25債券 | Wix LTD | 債券 | 1.12% | — | — | |
| 32 | NEO 0.25 01-15-28債券 | Neogenomics Inc | 債券 | 1.07% | -1.27% | +22.65% | |
| 33 | VRNT 0.25 04-15-26債券 | Verint Systems Inc | 債券 | 1.07% | — | +38.78% | |
| 34 | EXAS 0.375 03-01-28債券 | Exact Sciences CORP | 債券 | 1.04% | — | +20.00% | |
| 35 | FVRR 0 11-01-25債券 | Fiverr International LTD | 債券 | 1.03% | — | — | |
| 36 | BL 0 03-15-26債券 | Blackline Inc | 債券 | 1.03% | — | — | |
| 37 | UPWK 0.25 08-15-26債券 | Upwork Inc | 債券 | 1.02% | -0.09% | — | |
| 38 | JBTM 0.25 05-15-26債券 | Jbt Marel CORP | 債券 | 1.01% | -1.54% | EXIT | |
| 39 | ITRI 0 03-15-26債券 | Itron Inc | 債券 | 0.99% | — | -13.33% | |
| 40 | BMRN 1.25 05-15-27債券 | Biomarin Pharmaceutical | 債券 | 0.99% | -0.14% | — | |
| 41 | ALNY 1 09-15-27債券 | Alnylam Pharmaceuticals | 債券 | 0.96% | — | +210.11% | |
| 42 | BSY 0.375 07-01-27債券 | Bentley Systems | 債券 | 0.93% | -0.08% | — | |
| 43 | LRN 1.125 09-01-27債券 | Stride Inc | 債券 | 0.91% | +0.14% | -4.32% | |
| 44 | IMAX 0.5 04-01-26債券 | Imax CORP | 債券 | 0.86% | — | -14.39% | |
| 45 | SMCI 3.5 03-01-29債券 | Super Micro Computer Inc | 債券 | 0.86% | -0.07% | — | |
| 46 | PRO 2.5 07-01-30債券 | Pros Holdings Inc | 債券 | 0.83% | — | — | |
| 47 | CNK 4.5 08-15-25債券 | Cinemark Holdings Inc | 債券 | 0.81% | — | -8.82% | |
| 48 | ETSY 0.125 09-01-27債券 | Etsy Inc | 債券 | 0.79% | -0.07% | +11.52% | |
| 49 | ETSY 0.125 10-01-26債券 | Etsy Inc | 債券 | 0.76% | -0.14% | +629.22% | |
| 50 | MTN 0 01-01-26債券 | Vail Resorts Inc | 債券 | 0.71% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CCL 5.75 12-01-27債券 | Carnival CORP | +3.3% | NEW | 新建倉 |
| 2 | MCHP 0.75 06-01-30債券 | Microchip Technology Inc | +1.3% | NEW | 新建倉 |
| 3 | BMRN 1.25 05-15-27債券 | Biomarin Pharmaceutical | +1% | NEW | 新建倉 |
| 4 | IDCC 3.5 06-01-27債券 | Interdigital Inc | +0.9% | +70.15% | 加碼 |
| 5 | CFLT 0 01-15-27債券 | Confluent Inc | +0.9% | +300.42% | 加碼 |
| 6 | U 0 11-15-26債券 | Unity Software Inc | +0.8% | +71.83% | 加碼 |
| 7 | AKAM 0.375 09-01-27債券 | Akamai Technologies Inc | +0.8% | +89.46% | 加碼 |
| 8 | PRO 2.5 07-01-30債券 | Pros Holdings Inc | +0.8% | NEW | 新建倉 |
| 9 | MSTR 0.625 03-15-30債券 | Strategy Inc | +0.7% | +100.00% | 加碼 |
| 10 | TMDX 1.5 06-01-28債券 | Transmedics Group Inc | +0.7% | NEW | 新建倉 |
| 11 | ALNY 1 09-15-27債券 | Alnylam Pharmaceuticals | +0.7% | +210.11% | 加碼 |
| 12 | ETSY 0.125 10-01-26債券 | Etsy Inc | +0.7% | +629.22% | 加碼 |
| 13 | UGI 5 06-01-28債券 | Ugi CORP | +0.6% | NEW | 新建倉 |
| 14 | POST 2.5 08-15-27債券 | Post Holdings Inc | +0.5% | NEW | 新建倉 |
| 15 | NET 0 08-15-26債券 | Cloudflare Inc | +0.5% | +9.81% | 加碼 |
| 16 | CMS 3.375 05-01-28債券 | Cms Energy CORP | +0.4% | NEW | 新建倉 |
| 17 | ENOV 3.875 10-15-28債券 | Enovis CORP | +0.4% | NEW | 新建倉 |
| 18 | CNMD 2.25 06-15-27債券 | Conmed CORP | +0.4% | +53.50% | 加碼 |
| 19 | ORA 2.5 07-15-27債券 | Ormat Technologies Inc | +0.3% | NEW | 新建倉 |
| 20 | ✓ | +0.3% | NEW | 新建倉 | |
| 21 | GTENU | Gores Holdings X, Inc. | +0.3% | NEW | 新建倉 |
| 22 | ✓ | +0.3% | NEW | 新建倉 | |
| 23 | ✓ | Titan Acquisition CORP | +0.3% | NEW | 新建倉 |
| 24 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | +0.3% | +25.61% | 加碼 |
| 25 | VRNT 0.25 04-15-26債券 | Verint Systems Inc | +0.3% | +38.78% | 加碼 |
| 26 | ✓ | Live Oak Acquisition CORP V | +0.3% | NEW | 新建倉 |
| 27 | WDC 3 11-15-28債券 | Western Digital CORP | +0.2% | NEW | 新建倉 |
| 28 | SNAP 0 05-01-27債券 | Snap Inc | +0.2% | NEW | 新建倉 |
| 29 | ✓ | Texas Ventures Acquisition I | +0.2% | NEW | 新建倉 |
| 30 | ✓ | Sizzle Acquisition CORP. Ii | +0.2% | NEW | 新建倉 |
| 31 | ✓ | Soulpower Acquisition CORP | +0.2% | NEW | 新建倉 |
| 32 | ✓ | Archimedes Tech Spac Partner | +0.2% | NEW | 新建倉 |
| 33 | ✓ | Armada Acquisition CORP Ii | +0.2% | NEW | 新建倉 |
| 34 | ✓ | New Providence Acquisition C | +0.2% | NEW | 新建倉 |
| 35 | ✓ | +0.2% | NEW | 新建倉 | |
| 36 | ✓ | Fifth Era Acquisition CORP I | +0.2% | NEW | 新建倉 |
| 37 | ✓ | Cartesian Growth CORP Iii | +0.2% | NEW | 新建倉 |
| 38 | ✓ | +0.2% | NEW | 新建倉 | |
| 39 | UPST 0.25 08-15-26債券 | Upstart Holdings Inc | +0.2% | NEW | 新建倉 |
| 40 | SEALTD 2.375 12-01-25債券 | Sea LTD | +0.2% | +25.00% | 加碼 |
| 41 | SO 4.5 06-15-27債券 | Southern Co | +0.2% | NEW | 新建倉 |
| 42 | BILL 0 04-01-27債券 | Bill Holdings Inc | +0.2% | +424.77% | 加碼 |
| 43 | LCID 1.25 12-15-26債券 | Lucid Group Inc | +0.2% | NEW | 新建倉 |
| 44 | ✓ | Digital Asset Acquisition Co | +0.2% | NEW | 新建倉 |
| 45 | VRNS 1.25 08-15-25債券 | Varonis System Inc | +0.2% | +0.19% | 加碼 |
| 46 | ✓ | +0.2% | NEW | 新建倉 | |
| 47 | ✓ | Real Asset Acquisition CORP | +0.2% | NEW | 新建倉 |
| 48 | WK 1.25 08-15-28債券 | Workiva Inc | +0.2% | NEW | 新建倉 |
| 49 | ✓ | Cal Redwood Acquisition CORP | +0.2% | NEW | 新建倉 |
| 50 | EXAS 0.375 03-01-28債券 | Exact Sciences CORP | +0.2% | +20.00% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，TENOR CAPITAL MANAGEMENT Co., L.P. 在 Q2 2025 季度的美股持倉總市值約為 US$70.9億，共申報了 363 個公開持股部位。
在 Q2 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：CCL 5.75 12-01-27 (3.3%)、NET 0 08-15-26 (2.6%)、RNG 0 03-15-26 (2.6%)。其中最大持股部位 CCL 5.75 12-01-27 佔據整體投資組合約 3.3% 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
CCL 5.75 12-01-27
市值: US$2.4億
本季最大獲利了結 / 清倉標的
HUBS 0.375 06-01-25
前期市值: US$2.3億
在 Q2 2025 季度中，TENOR CAPITAL MANAGEMENT Co., L.P. 共進行了 186 項持倉異動，包含新建倉 77 個部位、加碼 49 個部位、減碼 20 個部位以及清倉 40 個部位。 其中最大新建倉標的為 CCL 5.75 12-01-27。 本季清倉部位包含 HUBS 0.375 06-01-25。
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。