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: 0001317208
申報總市值
US$4.2億
US$4.2億
44 檔
22.2%
在 Q2 2025 申報期間，TSP Capital Management Group, LLC（CIK: 0001317208）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$4.2億，共持有 44 個公開申報部位。
從 Q2 2025 申報觀察，TSP Capital Management Group, LLC 採取防禦導向的調倉策略，本季減碼 20 檔個股並出清 2 檔部位，顯示機構在該時期進行風險控制與流動性回收。
在資產配置集中度方面，TSP Capital Management Group, LLC 的前 5 大核心持股（包含 NGDN, MLP, CIG 等）合計佔整體申報市值的 22.2%，反映機構在主要關鍵部位上的權重分佈。
本季最大獲利了結 / 清倉標的
LLY
前期市值: US$650.4萬
| # | 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 | NGDN | New Gold Inc | 股票-其他 | 7.03% | — | -20.76% | |
| 2 | MLP | Maui Land & Pineapple Co | 股票-其他 | 6.28% | +0.53% | -0.20% | |
| 3 | CIG | Cia Energetica De-spon Adr | 股票-其他 | 5.62% | -0.74% | -0.69% | |
| 4 | BVN | Cia De Minas Buenaventur-adr | 股票-其他 | 5.17% | -1.25% | -0.30% | |
| 5 | CTVA | Corteva Inc | 股票-原物料 | 5.03% | -0.03% | -0.10% | |
| 6 | SLV | Ishares Silver Trust | ETF-避險與商品 | 4.80% | -1.01% | -0.47% | |
| 7 | CWCO | Consolidated Water Co. Ltd. | 股票-其他 | 4.58% | -0.49% | +0.22% | |
| 8 | ADEA | Adeia Inc | 股票-其他 | 4.43% | +1.05% | -0.35% | |
| 9 | GLD | Spdr Gold Shares | ETF-避險與商品 | 4.14% | -0.34% | — | |
| 10 | SBSW | Sibanye-stillwater Ltd-adr | 股票-其他 | 4.13% | -0.69% | +31.51% | |
| 11 | XYL | Xylem Inc | 股票-工業 | 4.06% | -0.08% | -0.27% | |
| 12 | NOK | Nokia Corp-spon Adr | 股票-科技 | 3.70% | +1.64% | -0.33% | |
| 13 | MNKD | Mannkind CORP | 股票-其他 | 3.50% | +2.05% | +7.23% | |
| 14 | SSYS | Stratasys Ltd. | 股票-其他 | 3.32% | +0.16% | +0.60% | |
| 15 | WM | Waste Management Inc | 股票-工業 | 3.01% | -0.11% | -0.53% | |
| 16 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 2.94% | +0.14% | — | |
| 17 | NVAX | Novavax Inc | 股票-醫療保健 | 2.77% | +0.44% | +3.47% | |
| 18 | TMQ | Trilogy Metals Inc | 股票-其他 | 2.61% | -0.23% | +17.81% | |
| 19 | CLDX | Celldex Therapeutics Inc | 股票-其他 | 2.37% | +0.40% | +10.55% | |
| 20 | NEM | Newmont CORP | 股票-原物料 | 2.28% | -0.43% | — | |
| 21 | MSEX | Middlesex Water Co | 股票-其他 | 1.90% | +0.17% | +2.29% | |
| 22 | CDE | Coeur Mining Inc | 股票-原物料 | 1.82% | -1.19% | -7.57% | |
| 23 | MPV | Barings Participation Invest | 股票-其他 | 1.80% | -0.05% | -2.63% | |
| 24 | WBD | Warner Bros Discovery Inc | 股票-通訊服務 | 1.70% | -0.08% | -1.83% | |
| 25 | BGH | Barings Glbl Shrt Dur Hi Yld | 股票-其他 | 1.59% | — | -1.82% | |
| 26 | WU | Western Union Co | 股票-金融 | 1.16% | -0.26% | -9.38% | |
| 27 | AMX | America Movil Sab De Cv | 股票-其他 | 1.09% | — | -10.25% | |
| 28 | KYN | Kayne Anderson Energy Infra | 股票-其他 | 1.06% | -0.04% | -1.67% | |
| 29 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.92% | +0.06% | +19.85% | |
| 30 | DUK | Duke Energy CORP | 股票-公用事業 | 0.65% | -0.03% | +0.04% | |
| 31 | HPI | John Hancock Prefer Inc | 股票-其他 | 0.65% | +0.02% | +0.19% | |
| 32 | ENB | Enbridge Inc | 股票-能源 | 0.63% | -0.01% | — | |
| 33 | XPER | Xperi Inc | 股票-其他 | 0.61% | +0.61% | +2.58% | |
| 34 | MCI | Barings Corporate Investors | 股票-其他 | 0.59% | +0.01% | -1.62% | |
| 35 | PFE | Pfizer Inc | 股票-醫療保健 | 0.34% | -0.04% | — | |
| 36 | KRP | Kimbell Royalty Partners LP | 股票-其他 | 0.30% | — | — | |
| 37 | BMY | Bristol-myers Squibb Co | 股票-醫療保健 | 0.26% | -0.01% | — | |
| 38 | GLW | Corning Inc | 股票-科技 | 0.25% | -0.41% | EXIT | |
| 39 | CSCO | Cisco Systems Inc | 股票-科技 | 0.25% | +0.10% | — | |
| 40 | AYS1 | Sandstorm Gold LTD | 股票-其他 | 0.23% | — | — | |
| 41 | PBI | Pitney Bowes Inc | 股票-其他 | 0.22% | +0.09% | -0.31% | |
| 42 | WY | Weyerhaeuser Co | 股票-房地產 | 0.11% | — | +1.94% | |
| 43 | CAG | Conagra Brands Inc | 股票-非循環性消費 | 0.07% | -0.01% | -5.06% | |
| 44 | ✓ | Assertio Holdings Inc | 股票-其他 | 0.06% | — | +12.24% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | SBSW | Sibanye-stillwater Ltd-adr | +2% | +31.51% | 加碼 |
| 2 | CWCO | Consolidated Water Co. Ltd. | +0.7% | +0.22% | 加碼 |
| 3 | CTVA | Corteva Inc | +0.6% | -0.10% | 減碼 |
| 4 | CDE | Coeur Mining Inc | +0.4% | -7.57% | 減碼 |
| 5 | SSYS | Stratasys Ltd. | +0.4% | +0.60% | 加碼 |
| 6 | CLDX | Celldex Therapeutics Inc | +0.4% | +10.55% | 加碼 |
| 7 | CIG | Cia Energetica De-spon Adr | +0.3% | -0.69% | 減碼 |
| 8 | NEM | Newmont CORP | +0.3% | — | 不變 |
| 9 | FCX | Freeport-mcmoran Inc | +0.3% | — | 不變 |
| 10 | XYL | Xylem Inc | +0.1% | -0.27% | 減碼 |
| 11 | MPV | Barings Participation Invest | +0.1% | -2.63% | 減碼 |
| 12 | ADEA | Adeia Inc | +0.1% | -0.35% | 減碼 |
| 13 | AMX | America Movil Sab De Cv | +0.1% | -10.25% | 減碼 |
| 14 | NGDN | New Gold Inc | +0.1% | -20.76% | 減碼 |
| 15 | GLD | Spdr Gold Shares | 0% | — | 不變 |
| 16 | AYS1 | Sandstorm Gold LTD | 0% | — | 不變 |
| 17 | SLV | Ishares Silver Trust | 0% | -0.47% | 減碼 |
| 18 | PBI | Pitney Bowes Inc | 0% | -0.31% | 減碼 |
| 19 | GLW | Corning Inc | 0% | — | 不變 |
| 20 | CSCO | Cisco Systems Inc | 0% | — | 不變 |
| 21 | MRK | Merck & Co. Inc. | 0% | +19.85% | 加碼 |
| 22 | XPER | Xperi Inc | 0% | +2.58% | 加碼 |
| 23 | BVN | Cia De Minas Buenaventur-adr | — | -0.30% | 減碼 |
| 24 | WBD | Warner Bros Discovery Inc | — | -1.83% | 減碼 |
| 25 | ✓ | Assertio Holdings Inc | — | +12.24% | 加碼 |
| 26 | WY | Weyerhaeuser Co | 0% | +1.94% | 加碼 |
| 27 | KRP | Kimbell Royalty Partners LP | 0% | — | 不變 |
| 28 | ENB | Enbridge Inc | 0% | — | 不變 |
| 29 | CAG | Conagra Brands Inc | 0% | -5.06% | 減碼 |
| 30 | PFE | Pfizer Inc | 0% | — | 不變 |
| 31 | TMQ | Trilogy Metals Inc | -0.1% | +17.81% | 加碼 |
| 32 | HPI | John Hancock Prefer Inc | -0.1% | +0.19% | 加碼 |
| 33 | DUK | Duke Energy CORP | -0.1% | +0.04% | 加碼 |
| 34 | NVAX | Novavax Inc | -0.1% | +3.47% | 加碼 |
| 35 | KYN | Kayne Anderson Energy Infra | -0.1% | -1.67% | 減碼 |
| 36 | BGH | Barings Glbl Shrt Dur Hi Yld | -0.1% | -1.82% | 減碼 |
| 37 | MLP | Maui Land & Pineapple Co | -0.1% | -0.20% | 減碼 |
| 38 | BMY | Bristol-myers Squibb Co | -0.1% | — | 不變 |
| 39 | MCI | Barings Corporate Investors | -0.1% | -1.62% | 減碼 |
| 40 | WM | Waste Management Inc | -0.2% | -0.53% | 減碼 |
| 41 | NOK | Nokia Corp-spon Adr | -0.3% | -0.33% | 減碼 |
| 42 | MSEX | Middlesex Water Co | -0.4% | +2.29% | 加碼 |
| 43 | AWK | American Water Works Co Inc | -0.5% | EXIT | 清倉 |
| 44 | WU | Western Union Co | -0.5% | -9.38% | 減碼 |
| 45 | MNKD | Mannkind CORP | -1.1% | +7.23% | 加碼 |
| 46 | LLY | Eli Lilly & Co | -2.1% | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，TSP Capital Management Group, LLC 在 Q2 2025 季度的美股持倉總市值約為 US$4.2億，共申報了 44 個公開持股部位。
在 Q2 2025 季度，TSP Capital Management Group, LLC 按市值排列的前三大核心持股分別為：NGDN (7.0%)、MLP (6.3%)、CIG (5.6%)。其中最大持股部位 NGDN 佔據整體投資組合約 7.0% 的權重。
在 Q2 2025 季度中，TSP Capital Management Group, LLC 共進行了 36 項持倉異動，包含新建倉 0 個部位、加碼 14 個部位、減碼 20 個部位以及清倉 2 個部位。 本季清倉部位包含 LLY。
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。