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
438 檔
15.4%
在 Q4 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 438 檔。
TENOR CAPITAL MANAGEMENT Co., L.P. 於 Q4 2025 展現出進攻型調倉步調，本季推動了 76 檔股票的新建倉與 36 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。
在資產配置集中度方面，TENOR CAPITAL MANAGEMENT Co., L.P. 的前 5 大核心持股（包含 IDCC 3.5 06-01-27, LITE 0.5 12-15-26, RNG 0 03-15-26 等）合計佔整體申報市值的 15.4%，反映機構在主要關鍵部位上的權重分佈。
僅顯示前 200 大持股（共 438 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 | IDCC 3.5 06-01-27債券 | Interdigital Inc | 債券 | 4.67% | — | — | |
| 2 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | 債券 | 2.88% | -6.01% | EXIT | |
| 3 | RNG 0 03-15-26債券 | Ringcentral Inc | 債券 | 2.84% | — | +0.49% | |
| 4 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | 債券 | 2.54% | -0.24% | — | |
| 5 | AKAM 0.375 09-01-27債券 | Akamai Technologies Inc | 債券 | 2.44% | -0.12% | — | |
| 6 | BSY 0.125 01-15-26債券 | Bentley Systems Inc | 債券 | 2.14% | — | +10.92% | |
| 7 | JAMF 0.125 09-01-26債券 | Jamf Holding CORP | 債券 | 2.09% | — | +16.28% | |
| 8 | U 0 11-15-26債券 | Unity Software Inc | 債券 | 1.84% | -0.15% | -21.25% | |
| 9 | CNMD 2.25 06-15-27債券 | Conmed CORP | 債券 | 1.69% | -1.89% | EXIT | |
| 10 | HAE 0 03-01-26債券 | Haemonetics CORP | 債券 | 1.67% | — | — | |
| 11 | NET 0 08-15-26債券 | Cloudflare Inc | 債券 | 1.66% | -0.41% | -18.37% | |
| 12 | TRIP 0.25 04-01-26債券 | Tripadvisor Inc | 債券 | 1.62% | — | — | |
| 13 | BMRN 1.25 05-15-27債券 | Biomarin Pharmaceutical | 債券 | 1.58% | -0.14% | +14.13% | |
| 14 | SHAK 0 03-01-28債券 | Shake Shack Inc | 債券 | 1.46% | -0.16% | +195.64% | |
| 15 | CFLT 0 01-15-27債券 | Confluent Inc | 債券 | 1.45% | — | — | |
| 16 | JBTM 0.25 05-15-26債券 | Jbt Marel CORP | 債券 | 1.42% | -1.54% | EXIT | |
| 17 | IRTC 1.5 09-01-29債券 | Irhythm Holdings Inc | 債券 | 1.36% | -0.07% | +42.81% | |
| 18 | DAY 0.25 03-15-26債券 | Dayforce Inc | 債券 | 1.29% | — | — | |
| 19 | TMDX 1.5 06-01-28債券 | Transmedics Group Inc | 債券 | 1.27% | -0.05% | — | |
| 20 | NEO 0.25 01-15-28債券 | Neogenomics Inc | 債券 | 1.24% | -1.27% | +2.08% | |
| 21 | UGI 5 06-01-28債券 | Ugi CORP | 債券 | 1.22% | -0.39% | +73.19% | |
| 22 | SNOW 0 10-01-27債券 | Snowflake Inc | 債券 | 1.21% | +0.09% | +121.79% | |
| 23 | RPD 0.25 03-15-27債券 | Rapid7 Inc | 債券 | 1.20% | -0.50% | — | |
| 24 | JAZZ 2 06-15-26債券 | Jazz Investments I LTD | 債券 | 1.18% | -1.46% | EXIT | |
| 25 | BL 0 03-15-26債券 | Blackline Inc | 債券 | 1.10% | — | — | |
| 26 | BBIO 2.5 03-15-27債券 | Bridgebio Pharma Inc | 債券 | 1.06% | -0.42% | EXIT | |
| 27 | UPWK 0.25 08-15-26債券 | Upwork Inc | 債券 | 1.05% | -0.09% | -4.41% | |
| 28 | PTCT 1.5 09-15-26債券 | Ptc Therapeutics Inc | 債券 | 1.05% | -1.03% | EXIT | |
| 29 | MIRM 4 05-01-29債券 | Mirum Pharmaceuticals | 債券 | 1.05% | -0.74% | +13.55% | |
| 30 | BSY 0.375 07-01-27債券 | Bentley Systems | 債券 | 0.97% | -0.08% | — | |
| 31 | QTWO 0.75 06-01-26債券 | Q2 Holdings Inc | 債券 | 0.96% | -1.10% | EXIT | |
| 32 | ETSY 0.125 09-01-27債券 | Etsy Inc | 債券 | 0.91% | -0.07% | — | |
| 33 | ZD 3.625 03-01-28債券 | Ziff Davis Inc | 債券 | 0.91% | -0.27% | -13.33% | |
| 34 | ITRI 0 03-15-26債券 | Itron Inc | 債券 | 0.85% | — | -6.92% | |
| 35 | ON 0 05-01-27債券 | On Semiconductor CORP | 債券 | 0.84% | +3.42% | +81.82% | |
| 36 | MCHP 0.75 06-01-30債券 | Microchip Technology Inc | 債券 | 0.83% | -0.06% | -26.54% | |
| 37 | MTN 0 01-01-26債券 | Vail Resorts Inc | 債券 | 0.77% | — | — | |
| 38 | SMCI 3.5 03-01-29債券 | Super Micro Computer Inc | 債券 | 0.76% | -0.07% | — | |
| 39 | SEALTD 0.25 09-15-26債券 | Sea LTD | 債券 | 0.75% | — | — | |
| 40 | HALO 1 08-15-28債券 | Halozyme Therapeutics In | 債券 | 0.74% | -0.31% | +273.20% | |
| 41 | DOCN 0 12-01-26債券 | Digitalocean Holdings | 債券 | 0.68% | -0.68% | +2641.38% | |
| 42 | PAR 1.5 10-15-27債券 | Par Technology CORP | 債券 | 0.66% | -0.01% | — | |
| 43 | EXAS 0.375 03-01-28債券 | Exact Sciences CORP | 債券 | 0.65% | — | -33.82% | |
| 44 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | 債券 | 0.65% | -1.00% | EXIT | |
| 45 | PEB 1.75 12-15-26債券 | Pebblebrook Hotel Trust | 債券 | 0.64% | -0.08% | — | |
| 46 | EXPE 0 02-15-26債券 | Expedia Group Inc | 債券 | 0.63% | — | -11.11% | |
| 47 | GBX 2.875 04-15-28債券 | Greenbrier Cos Inc | 債券 | 0.62% | +0.16% | — | |
| 48 | EXAS 0.375 03-15-27債券 | Exact Sciences CORP | 債券 | 0.56% | — | -16.85% | |
| 49 | MSTR 0.625 03-15-30債券 | Strategy Inc | 債券 | 0.54% | -0.10% | — | |
| 50 | BL 1 06-01-29債券 | Blackline Inc | 債券 | 0.52% | -0.06% | +475.88% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | +1.6% | -1.87% | 減碼 |
| 2 | SHAK 0 03-01-28債券 | Shake Shack Inc | +1% | +195.64% | 加碼 |
| 3 | SNOW 0 10-01-27債券 | Snowflake Inc | +0.7% | +121.79% | 加碼 |
| 4 | DOCN 0 12-01-26債券 | Digitalocean Holdings | +0.7% | +2641.38% | 加碼 |
| 5 | UGI 5 06-01-28債券 | Ugi CORP | +0.6% | +73.19% | 加碼 |
| 6 | HALO 1 08-15-28債券 | Halozyme Therapeutics In | +0.5% | +273.20% | 加碼 |
| 7 | PTCT 1.5 09-15-26債券 | Ptc Therapeutics Inc | +0.5% | +66.13% | 加碼 |
| 8 | BBIO 2.5 03-15-27債券 | Bridgebio Pharma Inc | +0.5% | +31.67% | 加碼 |
| 9 | IRTC 1.5 09-01-29債券 | Irhythm Holdings Inc | +0.5% | +42.81% | 加碼 |
| 10 | JAMF 0.125 09-01-26債券 | Jamf Holding CORP | +0.5% | +16.28% | 加碼 |
| 11 | BL 1 06-01-29債券 | Blackline Inc | +0.4% | +475.88% | 加碼 |
| 12 | ON 0 05-01-27債券 | On Semiconductor CORP | +0.4% | +81.82% | 加碼 |
| 13 | BSY 0.125 01-15-26債券 | Bentley Systems Inc | +0.4% | +10.92% | 加碼 |
| 14 | BMRN 1.25 05-15-27債券 | Biomarin Pharmaceutical | +0.3% | +14.13% | 加碼 |
| 15 | AKAM 0.375 09-01-27債券 | Akamai Technologies Inc | +0.3% | — | 不變 |
| 16 | RIVN 3.625 10-15-30債券 | Rivian Auto Inc | +0.3% | +130.00% | 加碼 |
| 17 | MIRM 4 05-01-29債券 | Mirum Pharmaceuticals | +0.3% | +13.55% | 加碼 |
| 18 | RNG 0 03-15-26債券 | Ringcentral Inc | +0.2% | +0.49% | 加碼 |
| 19 | ✓ | Mountain Lake Acquisition Co | +0.2% | +300.00% | 加碼 |
| 20 | TDOC 1.25 06-01-27債券 | Teladoc Health Inc | +0.2% | — | 不變 |
| 21 | CCIX | Churchill Capital Corp IX | +0.2% | +87.98% | 加碼 |
| 22 | RPD 1.25 03-15-29債券 | Rapid7 Inc | +0.2% | +258.81% | 加碼 |
| 23 | MSTR 0.875 03-15-31債券 | Strategy Inc | +0.2% | +270.00% | 加碼 |
| 24 | WKC 3.25 07-01-28債券 | World Kinect Group | +0.2% | +252.98% | 加碼 |
| 25 | QTWO 0.75 06-01-26債券 | Q2 Holdings Inc | +0.2% | +13.50% | 加碼 |
| 26 | TMDX 1.5 06-01-28債券 | Transmedics Group Inc | +0.2% | — | 不變 |
| 27 | NEO 0.25 01-15-28債券 | Neogenomics Inc | +0.1% | +2.08% | 加碼 |
| 28 | CFLT 0 01-15-27債券 | Confluent Inc | +0.1% | — | 不變 |
| 29 | HAE 0 03-01-26債券 | Haemonetics CORP | +0.1% | — | 不變 |
| 30 | WK 1.125 08-15-26債券 | Workiva Inc | +0.1% | +125.78% | 加碼 |
| 31 | ✓ | +0.1% | +45.67% | 加碼 | |
| 32 | NTNX 0.25 10-01-27債券 | Nutanix Inc | +0.1% | +75.00% | 加碼 |
| 33 | DAY 0.25 03-15-26債券 | Dayforce Inc | +0.1% | — | 不變 |
| 34 | GH 0 11-15-27債券 | Guardant Health Inc | +0.1% | +45.72% | 加碼 |
| 35 | DBX 0 03-01-28債券 | Dropbox Inc | +0.1% | +56.25% | 加碼 |
| 36 | VERI 1.75 11-15-26債券 | Veritone Inc | +0.1% | — | 不變 |
| 37 | JBTM 0.25 05-15-26債券 | Jbt Marel CORP | +0.1% | -3.75% | 減碼 |
| 38 | ✓ | Dynavax Technol | +0.1% | — | 不變 |
| 39 | ✓ | +0.1% | +12.12% | 加碼 | |
| 40 | LNTH 2.625 12-15-27債券 | Lantheus Holdings Inc | +0.1% | — | 不變 |
| 41 | UPWK 0.25 08-15-26債券 | Upwork Inc | 0% | -4.41% | 減碼 |
| 42 | RIVN 4.625 03-15-29債券 | Rivian Auto Inc | 0% | — | 不變 |
| 43 | SNAP 0 05-01-27債券 | Snap Inc | 0% | +351.31% | 加碼 |
| 44 | ✓ | Blue Acquisition CORP. | 0% | +9.76% | 加碼 |
| 45 | CSGS 3.875 09-15-28債券 | Csg Systems Internationa | 0% | — | 不變 |
| 46 | CRNC 1.5 07-01-28債券 | Cerence Inc | 0% | +44.39% | 加碼 |
| 47 | SPOT 0 03-15-26債券 | Spotify USA Inc | — | +10.71% | 加碼 |
| 48 | CALY 2.75 05-01-26債券 | Callaway Golf Co | — | -6.71% | 減碼 |
| 49 | LYV 3.125 01-15-29債券 | Live Nation Entertainmen | — | +5.26% | 加碼 |
| 50 | DXCM 0.375 05-15-28債券 | Dexcom Inc | 0% | -14.29% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，TENOR CAPITAL MANAGEMENT Co., L.P. 在 Q4 2025 季度的美股持倉總市值約為 US$70.9億，共申報了 438 個公開持股部位。
在 Q4 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：IDCC 3.5 06-01-27 (4.7%)、LITE 0.5 12-15-26 (2.9%)、RNG 0 03-15-26 (2.8%)。其中最大持股部位 IDCC 3.5 06-01-27 佔據整體投資組合約 4.7% 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
SEALTD 0.25 09-15-26
市值: US$532.7億
本季最大獲利了結 / 清倉標的
DXCM 0.25 11-15-25
前期市值: US$1907.9億
在 Q4 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 76 個部位、加碼 36 個部位、減碼 29 個部位以及清倉 45 個部位。 其中最大新建倉標的為 SEALTD 0.25 09-15-26。 本季清倉部位包含 DXCM 0.25 11-15-25。
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。