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: 0001535588
申報總市值
US$53.1億
US$53.1億
779 檔
283.6%
Twin Tree Management, LP 在 Q2 2025 季度的美股部位總計估值為 US$53.1億，分散於 779 個持倉標的之中，反映其市場參與廣度與投資規模。
Twin Tree Management, LP 於 Q2 2025 展現出進攻型調倉步調，本季推動了 16 檔股票的新建倉與 102 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，Twin Tree Management, LP 的前 5 大核心持股（包含 SPY, GLD, QQQ 等）合計佔整體申報市值的 283.6%，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 779 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 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 19.74% | -1.96% | -36.59% | |
| 2 | GLD | Spdr Gold Shares | ETF-避險與商品 | 3.21% | -0.97% | -30.60% | |
| 3 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 2.12% | -3.97% | -36.55% | |
| 4 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 1.53% | -0.19% | +96.03% | |
| 5 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 1.46% | +0.03% | +1301.78% | |
| 6 | AAPL | Apple Inc | 股票-科技 | 1.39% | -0.13% | +7.61% | |
| 7 | ORCL | Oracle CORP | 股票-科技 | 1.22% | -0.10% | +47.70% | |
| 8 | MSFT | Microsoft CORP | 股票-科技 | 1.10% | +0.27% | +544.13% | |
| 9 | XLV | Ss Health Care Select Sector | ETF-其他 | 1.10% | +0.04% | +13.03% | |
| 10 | SMH | Vaneck Semiconductor ETF | ETF-其他 | 1.02% | +0.80% | -24.33% | |
| 11 | IAU | Ishares Gold Trust | ETF-避險與商品 | 0.88% | -0.22% | -6.12% | |
| 12 | TSLA | Tesla Inc | 股票-循環性消費 | 0.77% | +0.03% | -0.66% | |
| 13 | MU | Micron Technology Inc | 股票-科技 | 0.75% | +0.13% | +2.97% | |
| 14 | GDX | Vaneck Gold Miners ETF | ETF-避險與商品 | 0.75% | -0.52% | -14.06% | |
| 15 | AMD | Advanced Micro Devices | 股票-科技 | 0.74% | -0.14% | EXIT | |
| 16 | SOXX | Ishares Semiconductor ETF | ETF-其他 | 0.68% | +0.16% | NEW | |
| 17 | AVGO | Broadcom Inc | 股票-科技 | 0.65% | +0.11% | -40.44% | |
| 18 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.65% | +0.04% | -7.03% | |
| 19 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 0.64% | -0.43% | +1.91% | |
| 20 | MRVL | Marvell Technology Inc | 股票-科技 | 0.58% | -0.20% | +68.55% | |
| 21 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.55% | -0.18% | +1277.76% | |
| 22 | XLP | Ss Consumer Staples Sel Sect | ETF-其他 | 0.55% | +0.22% | +959.53% | |
| 23 | NFLX | Netflix Inc | 股票-通訊服務 | 0.54% | +0.40% | -55.08% | |
| 24 | CRWD | Crowdstrike Holdings Inc - A | 股票-科技 | 0.53% | -0.15% | +19.25% | |
| 25 | SLV | Ishares Silver Trust | ETF-避險與商品 | 0.51% | -0.65% | -32.88% | |
| 26 | CCI | Crown Castle Inc | 股票-房地產 | 0.51% | -0.13% | +39.39% | |
| 27 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.51% | +0.83% | -34.15% | |
| 28 | DIA | Ss Spdr Dow Jones Indus Avg | ETF-大型股與成長 | 0.46% | +0.39% | NEW | |
| 29 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.45% | -0.21% | -5.69% | |
| 30 | XLU | St Sr Utl Sl Se Spdr Etf-usd | ETF-其他 | 0.45% | +0.06% | +65.25% | |
| 31 | ASML | ASML Holding N.V. | 股票-科技 | 0.45% | +0.63% | +170.03% | |
| 32 | C | Citigroup Inc | 股票-金融 | 0.45% | -0.14% | +43.25% | |
| 33 | MSTR | Strategy Inc | 股票-科技 | 0.45% | -0.05% | +9.92% | |
| 34 | INTU | Intuit Inc | 股票-科技 | 0.45% | +0.19% | +50.18% | |
| 35 | WDAY | Workday Inc-class A | 股票-科技 | 0.43% | +0.01% | — | |
| 36 | COIN | Coinbase Global Inc -class A | 股票-金融 | 0.42% | -0.08% | +14.16% | |
| 37 | AMZN | Amazon.com Inc | 股票-循環性消費 | 0.42% | -0.05% | -39.02% | |
| 38 | GWW | Ww Grainger Inc | 股票-工業 | 0.42% | -0.14% | -33.04% | |
| 39 | NVDA | Nvidia CORP | 股票-科技 | 0.41% | -0.59% | -9.68% | |
| 40 | ARM | Arm Holdings Plc-adr | 股票-科技 | 0.41% | +0.09% | +1.14% | |
| 41 | XYZ | Block Inc | 股票-金融 | 0.41% | — | -4.51% | |
| 42 | CAT | Caterpillar Inc | 股票-工業 | 0.40% | +0.42% | +29.59% | |
| 43 | SBUX | Starbucks CORP | 股票-循環性消費 | 0.40% | +0.11% | +23.24% | |
| 44 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.40% | -0.01% | -39.59% | |
| 45 | NOW | Servicenow Inc | 股票-科技 | 0.40% | -0.50% | EXIT | |
| 46 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.39% | +0.32% | -12.98% | |
| 47 | CDNS | Cadence Design Sys Inc | 股票-科技 | 0.38% | +0.06% | +75.33% | |
| 48 | DELL | Dell Technologies -c | 股票-科技 | 0.37% | +0.05% | +21.86% | |
| 49 | BA | Boeing Co/the | 股票-工業 | 0.37% | +0.41% | -14.88% | |
| 50 | ETN | Eaton Corporation plc | 股票-工業 | 0.36% | -0.01% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | VOO | Vanguard S&p 500 ETF | +1.4% | +1301.78% | 加碼 |
| 2 | MSFT | Microsoft CORP | +1% | +544.13% | 加碼 |
| 3 | IWM | Ishares Russell 2000 ETF | +0.8% | +96.03% | 加碼 |
| 4 | ORCL | Oracle CORP | +0.7% | +47.70% | 加碼 |
| 5 | DIS | Walt Disney Co/the | +0.5% | +1277.76% | 加碼 |
| 6 | XLP | Ss Consumer Staples Sel Sect | +0.5% | +959.53% | 加碼 |
| 7 | WDAY | Workday Inc-class A | +0.4% | NEW | 新建倉 |
| 8 | NOW | Servicenow Inc | +0.4% | +519.23% | 加碼 |
| 9 | ROST | Ross Stores Inc | +0.3% | +1509.41% | 加碼 |
| 10 | ASML | ASML Holding N.V. | +0.3% | +170.03% | 加碼 |
| 11 | MCHP | Microchip Technology Inc | +0.3% | +5209.62% | 加碼 |
| 12 | XLI | Ss Industrial Select Sector | +0.3% | +695552.17% | 加碼 |
| 13 | MRVL | Marvell Technology Inc | +0.3% | +68.55% | 加碼 |
| 14 | RTX | Rtx CORP | +0.3% | NEW | 新建倉 |
| 15 | AMD | Advanced Micro Devices | +0.3% | +20.06% | 加碼 |
| 16 | GEV | GE Vernova Inc | +0.3% | NEW | 新建倉 |
| 17 | MS | Morgan Stanley | +0.3% | +535.75% | 加碼 |
| 18 | GE | General Electric | +0.3% | +337.64% | 加碼 |
| 19 | XLF | Ss Financial Select Sector | +0.2% | +234.53% | 加碼 |
| 20 | VRT | Vertiv Holdings Co-a | +0.2% | +313.36% | 加碼 |
| 21 | HON | Honeywell International Inc | +0.2% | +219.01% | 加碼 |
| 22 | COIN | Coinbase Global Inc -class A | +0.2% | +14.16% | 加碼 |
| 23 | MU | Micron Technology Inc | +0.2% | +2.97% | 加碼 |
| 24 | SOFI | Sofi Technologies Inc | +0.2% | +139.51% | 加碼 |
| 25 | DKS | Dick's Sporting Goods Inc | +0.2% | +1114.89% | 加碼 |
| 26 | CRWD | Crowdstrike Holdings Inc - A | +0.2% | +19.25% | 加碼 |
| 27 | INTU | Intuit Inc | +0.2% | +50.18% | 加碼 |
| 28 | EEM | Ishares Msci Emerging Market | +0.2% | +9013.40% | 加碼 |
| 29 | HOOD | Robinhood Markets Inc - A | +0.2% | +8.23% | 加碼 |
| 30 | CDNS | Cadence Design Sys Inc | +0.2% | +75.33% | 加碼 |
| 31 | IGV | Ishares Expanded Tech-softwa | +0.2% | +509.93% | 加碼 |
| 32 | CPNG | Coupang Inc | +0.2% | +329.49% | 加碼 |
| 33 | C | Citigroup Inc | +0.2% | +43.25% | 加碼 |
| 34 | XLU | St Sr Utl Sl Se Spdr Etf-usd | +0.2% | +65.25% | 加碼 |
| 35 | PANW | Palo Alto Networks Inc | +0.2% | +122.57% | 加碼 |
| 36 | TTD | Trade Desk Inc/the -class A | +0.2% | +283.16% | 加碼 |
| 37 | VST | Vistra CORP | +0.2% | +232.91% | 加碼 |
| 38 | ANET | Arista Networks Inc | +0.2% | +66.52% | 加碼 |
| 39 | KMB | Kimberly-clark CORP | +0.2% | NEW | 新建倉 |
| 40 | AMT | American Tower CORP | +0.2% | NEW | 新建倉 |
| 41 | PWR | Quanta Services Inc | +0.2% | +287.37% | 加碼 |
| 42 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | +40.82% | 加碼 |
| 43 | STX | Seagate Technology Holdings plc | +0.2% | +590500.00% | 加碼 |
| 44 | MSTR | Strategy Inc | +0.2% | +9.92% | 加碼 |
| 45 | MCD | Mcdonald's CORP | +0.2% | +700.59% | 加碼 |
| 46 | PSX | Phillips 66 | +0.2% | NEW | 新建倉 |
| 47 | GD | General Dynamics CORP | +0.1% | +2560.05% | 加碼 |
| 48 | DELL | Dell Technologies -c | +0.1% | +21.86% | 加碼 |
| 49 | WFC | Wells Fargo & Co | +0.1% | +500.99% | 加碼 |
| 50 | ARM | Arm Holdings Plc-adr | +0.1% | +1.14% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Twin Tree Management, LP 在 Q2 2025 季度的美股持倉總市值約為 US$53.1億，共申報了 779 個公開持股部位。
在 Q2 2025 季度，Twin Tree Management, LP 按市值排列的前三大核心持股分別為：SPY (19.7%)、GLD (3.2%)、QQQ (2.1%)。其中最大持股部位 SPY 佔據整體投資組合約 19.7% 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
WDAY
市值: US$2.3億
本季最大獲利了結 / 清倉標的
EG
前期市值: US$1.1億
在 Q2 2025 季度中，Twin Tree Management, LP 共進行了 200 項持倉異動，包含新建倉 16 個部位、加碼 102 個部位、減碼 78 個部位以及清倉 4 個部位。 其中最大新建倉標的為 WDAY。 本季清倉部位包含 EG。
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。