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: 0001145020
申報總市值
US$104.5億
US$104.5億
177 檔
27.5%
Thornburg Investment Management Inc 在 Q2 2025 季度的美股部位總計估值為 US$104.5億，分散於 177 個持倉標的之中，反映其市場參與廣度與投資規模。
數據顯示 Thornburg Investment Management Inc 於 Q2 2025 季度持續回收資金，對 109 個既有部位進行裁減並清倉 16 個標的，組合整體流動性比重有所上升。
在資產配置集中度方面，Thornburg Investment Management Inc 的前 5 大核心持股（包含 T, AVGO, C 等）合計佔整體申報市值的 27.5%，反映機構在主要關鍵部位上的權重分佈。
| # | 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 | T | At&t Inc | 股票-通訊服務 | 10.23% | -2.21% | -0.37% | |
| 2 | AVGO | Broadcom Inc | 股票-科技 | 9.38% | -0.08% | -11.90% | |
| 3 | C | Citigroup Inc | 股票-金融 | 8.83% | +0.70% | +2.23% | |
| 4 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 4.82% | — | +53.22% | |
| 5 | CME | Cme Group Inc | 股票-金融 | 3.66% | -1.12% | -0.05% | |
| 6 | EQH | Equitable Holdings Inc | 股票-金融 | 3.50% | +0.24% | — | |
| 7 | PFE | Pfizer Inc | 股票-醫療保健 | 3.26% | -0.20% | +5.69% | |
| 8 | TRP | Tc Energy CORP | 股票-能源 | 2.43% | -0.05% | — | |
| 9 | HD | Home Depot Inc | 股票-循環性消費 | 2.42% | -0.21% | +0.62% | |
| 10 | CSCO | Cisco Systems Inc | 股票-科技 | 2.18% | +0.70% | — | |
| 11 | MDT | Medtronic plc | 股票-醫療保健 | 2.16% | +0.07% | — | |
| 12 | ENB | Enbridge Inc | 股票-能源 | 2.09% | -0.15% | — | |
| 13 | CP | Canadian Pacific Kansas City | 股票-工業 | 2.08% | +0.01% | +31.28% | |
| 14 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 2.06% | +1.03% | -8.16% | |
| 15 | ALC | Alcon Inc. | 股票-醫療保健 | 1.84% | -0.28% | +21.18% | |
| 16 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 1.63% | +0.26% | +2.52% | |
| 17 | LIN | Linde plc | 股票-原物料 | 1.57% | -0.06% | +0.17% | |
| 18 | LYB | LyondellBasell Industries N.V. | 股票-原物料 | 1.47% | -0.78% | -0.53% | |
| 19 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.47% | -0.05% | -8.66% | |
| 20 | RF | Regions Financial CORP | 股票-金融 | 1.39% | +0.18% | — | |
| 21 | PBR | Petroleo Brasileiro-spon Adr | 股票-能源 | 1.24% | -0.06% | -0.48% | |
| 22 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.21% | +0.40% | +8.21% | |
| 23 | ✓ | Ferrovial Se | 股票-其他 | 1.18% | -0.04% | +0.30% | |
| 24 | BZ | Kanzhun LTD - Adr | 股票-其他 | 1.07% | -0.20% | +97.62% | |
| 25 | MELI | Mercadolibre Inc | 股票-循環性消費 | 1.03% | -0.08% | -6.19% | |
| 26 | SCHW | Schwab (charles) CORP | 股票-金融 | 0.96% | +0.24% | -9.73% | |
| 27 | SLRC | Slr Investment CORP | 股票-其他 | 0.91% | -0.13% | — | |
| 28 | CIM | Chimera Investment CORP | 股票-其他 | 0.88% | -0.01% | — | |
| 29 | MA | Mastercard Inc - A | 股票-金融 | 0.78% | +0.10% | -4.74% | |
| 30 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.76% | +0.16% | -1.45% | |
| 31 | NVO | Novo-nordisk A/s-spons Adr | 股票-醫療保健 | 0.73% | — | +14.61% | |
| 32 | BABA | Alibaba Group Holding-sp Adr | 股票-循環性消費 | 0.71% | -0.22% | -1.95% | |
| 33 | SE | Sea Ltd-adr | 股票-通訊服務 | 0.65% | +0.01% | -14.01% | |
| 34 | SOBO | South Bow CORP | 股票-其他 | 0.55% | — | +114.48% | |
| 35 | CACI | Caci International Inc -cl A | 股票-科技 | 0.52% | -0.10% | -0.23% | |
| 36 | COF | Capital One Financial CORP | 股票-金融 | 0.52% | +0.12% | -0.34% | |
| 37 | RACE | Ferrari N.V. | 股票-循環性消費 | 0.51% | -0.06% | -4.34% | |
| 38 | TJX | Tjx Companies Inc | 股票-循環性消費 | 0.51% | +0.01% | -17.24% | |
| 39 | AZNN | Astrazeneca Plc-spons Adr | 股票-其他 | 0.48% | — | +3.59% | |
| 40 | MFIC | Midcap Financial Investment | 股票-其他 | 0.48% | -0.07% | — | |
| 41 | MRX | Marex Group plc | 股票-其他 | 0.42% | -0.03% | +19.64% | |
| 42 | LHX | L3harris Technologies Inc | 股票-工業 | 0.41% | -0.02% | -0.35% | |
| 43 | ELME | Elme Communities | 股票-其他 | 0.41% | — | -9.07% | |
| 44 | BLDR | Builders Firstsource Inc | 股票-工業 | 0.41% | -0.06% | +20.19% | |
| 45 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 0.40% | +0.05% | -45.91% | |
| 46 | CWST | Casella Waste Systems Inc-a | 股票-工業 | 0.38% | -0.17% | EXIT | |
| 47 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.35% | — | -83.82% | |
| 48 | VRT | Vertiv Holdings Co-a | 股票-工業 | 0.29% | -0.24% | -13.64% | |
| 49 | FLUT | Flutter Entertainment plc | 股票-循環性消費 | 0.27% | — | -29.43% | |
| 50 | AGYS | Agilysys Inc | 股票-其他 | 0.27% | -0.09% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | AVGO | Broadcom Inc | +2.4% | -11.90% | 減碼 |
| 2 | C | Citigroup Inc | +1% | +2.23% | 加碼 |
| 3 | MRK | Merck & Co. Inc. | +1% | +53.22% | 加碼 |
| 4 | CP | Canadian Pacific Kansas City | +0.6% | +31.28% | 加碼 |
| 5 | BZ | Kanzhun LTD - Adr | +0.4% | +97.62% | 加碼 |
| 6 | TSM | Taiwan Semiconductor-sp Adr | +0.3% | -8.16% | 減碼 |
| 7 | SOBO | South Bow CORP | +0.3% | +114.48% | 加碼 |
| 8 | ANET | Arista Networks Inc | +0.2% | NEW | 新建倉 |
| 9 | CVSA | Covista Inc | +0.2% | NEW | 新建倉 |
| 10 | GOOGL | Alphabet Inc-cl A | +0.2% | +8.21% | 加碼 |
| 11 | MELI | Mercadolibre Inc | +0.1% | -6.19% | 減碼 |
| 12 | FCX | Freeport-mcmoran Inc | +0.1% | +2.52% | 加碼 |
| 13 | META | Meta Platforms Inc-class A | +0.1% | -8.66% | 減碼 |
| 14 | ✓ | Ferrovial Se | +0.1% | +0.30% | 加碼 |
| 15 | SMPL | Simply Good Foods Co/the | +0.1% | NEW | 新建倉 |
| 16 | TBBB | BBB Foods Inc. | +0.1% | +182.07% | 加碼 |
| 17 | CMCSA 2 10-15-29債券 | Comcast Holdings CORP | +0.1% | +79.89% | 加碼 |
| 18 | CACI | Caci International Inc -cl A | +0.1% | -0.23% | 減碼 |
| 19 | MRX | Marex Group plc | +0.1% | +19.64% | 加碼 |
| 20 | VRT | Vertiv Holdings Co-a | +0.1% | -13.64% | 減碼 |
| 21 | CSCO | Cisco Systems Inc | +0.1% | — | 不變 |
| 22 | ALC | Alcon Inc. | +0.1% | +21.18% | 加碼 |
| 23 | AGYS | Agilysys Inc | +0.1% | -4.36% | 減碼 |
| 24 | SHOP | Shopify Inc - Class A | +0.1% | +20.43% | 加碼 |
| 25 | BAP | Credicorp Ltd. | +0.1% | +51.09% | 加碼 |
| 26 | MYRG | Myr Group Inc/delaware | +0.1% | -10.63% | 減碼 |
| 27 | COF | Capital One Financial CORP | 0% | -0.34% | 減碼 |
| 28 | LHX | L3harris Technologies Inc | 0% | -0.35% | 減碼 |
| 29 | TLN | Talen Energy CORP | 0% | -2.22% | 減碼 |
| 30 | SITM | Sitime CORP | 0% | NEW | 新建倉 |
| 31 | CRDO | Credo Technology Group Holding Ltd | 0% | -24.31% | 減碼 |
| 32 | IOT | Samsara Inc-cl A | 0% | NEW | 新建倉 |
| 33 | NVO | Novo-nordisk A/s-spons Adr | 0% | +14.61% | 加碼 |
| 34 | NU | Nu Holdings Ltd. | 0% | -4.76% | 減碼 |
| 35 | COHR | Coherent CORP | 0% | -7.75% | 減碼 |
| 36 | AGX | Argan Inc | 0% | — | 不變 |
| 37 | IBN | Icici Bank Ltd-spon Adr | 0% | +40.61% | 加碼 |
| 38 | BROS | Dutch Bros Inc-class A | 0% | NEW | 新建倉 |
| 39 | BLDR | Builders Firstsource Inc | 0% | +20.19% | 加碼 |
| 40 | DTM | Dt Midstream Inc | 0% | +16.89% | 加碼 |
| 41 | MTSI | Macom Technology Solutions H | 0% | -7.82% | 減碼 |
| 42 | SXT | Sensient Technologies CORP | 0% | -7.80% | 減碼 |
| 43 | P | Everpure Inc-a | 0% | -8.09% | 減碼 |
| 44 | AL | Air Lease CORP | 0% | +4.69% | 加碼 |
| 45 | THC | Tenet Healthcare CORP | 0% | -5.32% | 減碼 |
| 46 | SARO | Standardaero Inc | 0% | +9.00% | 加碼 |
| 47 | MSFT | Microsoft CORP | 0% | -3.88% | 減碼 |
| 48 | ABNB 0 03-15-26債券 | Airbnb Inc | 0% | NEW | 新建倉 |
| 49 | PJT | Pjt Partners Inc - A | 0% | +7.34% | 加碼 |
| 50 | ING | Ing Groep N.v.-sponsored Adr | 0% | +2.60% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Thornburg Investment Management Inc 在 Q2 2025 季度的美股持倉總市值約為 US$104.5億，共申報了 177 個公開持股部位。
在 Q2 2025 季度，Thornburg Investment Management Inc 按市值排列的前三大核心持股分別為：T (10.2%)、AVGO (9.4%)、C (8.8%)。其中最大持股部位 T 佔據整體投資組合約 10.2% 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
ANET
市值: US$1488.5萬
本季最大獲利了結 / 清倉標的
TECK
前期市值: US$1147.1萬
在 Q2 2025 季度中，Thornburg Investment Management Inc 共進行了 174 項持倉異動，包含新建倉 11 個部位、加碼 38 個部位、減碼 109 個部位以及清倉 16 個部位。 其中最大新建倉標的為 ANET。 本季清倉部位包含 TECK。
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。