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: 0001478735
申報總市值
—
US$401.0億
2311 檔
15.7%
在 Q3 2025 的 13F 官方備案中，Two Sigma Advisers, LP 管理的美股投資組合規模來到 US$401.0億，整體持股檔數為 2311 檔。
在 Q3 2025 期間，Two Sigma Advisers, LP 展現了靈活的資產再平衡步調，透過出清 22 檔弱勢或達到目標價部位，將資金轉置於 17 檔新建倉標的之中。
從部位權重觀察，前 5 大標的（包含 NVDA, MSFT, AAPL）累計市值佔比達 15.7%，是驅動 Two Sigma Advisers, LP 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 2311 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 | NVDA | Nvidia CORP | 股票-科技 | 3.07% | — | -12.22% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 3.03% | — | -0.81% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 2.79% | — | -14.25% | |
| 4 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.14% | — | +0.23% | |
| 5 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.54% | — | +652.11% | |
| 6 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 1.35% | — | -10.73% | |
| 7 | NFLX | Netflix Inc | 股票-通訊服務 | 1.34% | — | +7.35% | |
| 8 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.33% | — | +248.17% | |
| 9 | BAC | Bank Of America CORP | 股票-金融 | 1.27% | — | -0.43% | |
| 10 | MA | Mastercard Inc - A | 股票-金融 | 1.25% | — | -6.30% | |
| 11 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 1.19% | — | +0.50% | |
| 12 | LMT | Lockheed Martin CORP | 股票-工業 | 1.18% | — | +15.00% | |
| 13 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 1.14% | — | +120.68% | |
| 14 | ADBE | Adobe Inc | 股票-科技 | 1.14% | — | +9.69% | |
| 15 | SCHW | Schwab (charles) CORP | 股票-金融 | 1.14% | — | +5.57% | |
| 16 | WMT | Walmart Inc | 股票-非循環性消費 | 1.11% | — | +2081.86% | |
| 17 | GEV | GE Vernova Inc | 股票-工業 | 1.06% | — | +24.63% | |
| 18 | BSX | Boston Scientific CORP | 股票-醫療保健 | 1.04% | — | +3.28% | |
| 19 | REGN | Regeneron Pharmaceuticals | 股票-醫療保健 | 1.04% | — | -1.31% | |
| 20 | TMUS | T-mobile US Inc | 股票-通訊服務 | 1.04% | — | +6.22% | |
| 21 | ABNB | Airbnb Inc-class A | 股票-循環性消費 | 0.90% | — | +32.96% | |
| 22 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.87% | — | +459.91% | |
| 23 | ALNY | Alnylam Pharmaceuticals Inc | 股票-醫療保健 | 0.81% | — | +235.40% | |
| 24 | MU | Micron Technology Inc | 股票-科技 | 0.81% | — | +80633.33% | |
| 25 | RBLX | Roblox CORP -class A | 股票-通訊服務 | 0.80% | — | -42.52% | |
| 26 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.77% | — | -65.13% | |
| 27 | PGR | Progressive CORP | 股票-金融 | 0.75% | — | +958.22% | |
| 28 | UNP | Union Pacific CORP | 股票-工業 | 0.75% | — | +285.37% | |
| 29 | QCOM | Qualcomm Inc | 股票-科技 | 0.73% | — | -9.06% | |
| 30 | TSLA | Tesla Inc | 股票-循環性消費 | 0.73% | — | -10.97% | |
| 31 | CB | Chubb Limited | 股票-金融 | 0.71% | — | +197.62% | |
| 32 | CPNG | Coupang Inc | 股票-循環性消費 | 0.68% | — | -10.47% | |
| 33 | NET | Cloudflare Inc - Class A | 股票-科技 | 0.66% | — | +119.22% | |
| 34 | CRM | Salesforce Inc | 股票-科技 | 0.62% | — | -38.99% | |
| 35 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.62% | — | +105.29% | |
| 36 | DASH | Doordash Inc - A | 股票-循環性消費 | 0.61% | — | -21.99% | |
| 37 | CVNA | Carvana Co | 股票-循環性消費 | 0.59% | — | -53.26% | |
| 38 | GDDY | Godaddy Inc - Class A | 股票-科技 | 0.59% | — | +171.28% | |
| 39 | IBKR | Interactive Brokers Gro-cl A | 股票-金融 | 0.58% | — | +24.09% | |
| 40 | TEAM | Atlassian Corp-cl A | 股票-科技 | 0.56% | — | -14.03% | |
| 41 | WCN | Waste Connections Inc | 股票-工業 | 0.54% | — | +46.40% | |
| 42 | MRSH | Marsh & Mclennan Cos | 股票-金融 | 0.53% | — | +204.30% | |
| 43 | GM | General Motors Co | 股票-循環性消費 | 0.53% | — | +54.55% | |
| 44 | NBIS | Nebius Group N.V. | 股票-其他 | 0.51% | — | +3939.93% | |
| 45 | MPC | Marathon Petroleum CORP | 股票-能源 | 0.50% | — | +65.96% | |
| 46 | CLX | Clorox Company | 股票-非循環性消費 | 0.50% | — | +180.83% | |
| 47 | CAT | Caterpillar Inc | 股票-工業 | 0.50% | — | +67.99% | |
| 48 | HUBS | Hubspot Inc | 股票-科技 | 0.50% | — | +22.29% | |
| 49 | CME | Cme Group Inc | 股票-金融 | 0.50% | — | -50.24% | |
| 50 | AER | AerCap Holdings N.V. | 股票-工業 | 0.45% | — | +55.18% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | JPM | Jpmorgan Chase & Co | +1.5% | +652.11% | 加碼 |
| 2 | TMUS | T-mobile US Inc | +1% | +6.22% | 加碼 |
| 3 | PLTR | Palantir Technologies Inc-a | +0.9% | -10.73% | 加碼 |
| 4 | GEV | GE Vernova Inc | +0.9% | +24.63% | 加碼 |
| 5 | NFLX | Netflix Inc | +0.9% | +7.35% | 加碼 |
| 6 | MSFT | Microsoft CORP | +0.9% | -0.81% | 加碼 |
| 7 | UNP | Union Pacific CORP | +0.8% | +285.37% | 加碼 |
| 8 | COST | Costco Wholesale CORP | +0.7% | +0.50% | 加碼 |
| 9 | CB | Chubb Limited | +0.7% | +197.62% | 加碼 |
| 10 | JNJ | Johnson & Johnson | +0.7% | +459.91% | 加碼 |
| 11 | PGR | Progressive CORP | +0.7% | +958.22% | 加碼 |
| 12 | ALNY | Alnylam Pharmaceuticals Inc | +0.6% | +235.40% | 加碼 |
| 13 | META | Meta Platforms Inc-class A | +0.6% | +248.17% | 加碼 |
| 14 | PG | Procter & Gamble Co/the | +0.6% | +105.29% | 加碼 |
| 15 | GDDY | Godaddy Inc - Class A | +0.6% | +171.28% | 加碼 |
| 16 | MRSH | Marsh & Mclennan Cos | +0.5% | +204.30% | 加碼 |
| 17 | CLX | Clorox Company | +0.5% | +180.83% | 加碼 |
| 18 | NET | Cloudflare Inc - Class A | +0.5% | +119.22% | 加碼 |
| 19 | NVDA | Nvidia CORP | +0.5% | -12.22% | 減碼 |
| 20 | TJX | Tjx Companies Inc | +0.4% | — | 加碼 |
| 21 | CPNG | Coupang Inc | +0.4% | -10.47% | 加碼 |
| 22 | NU | Nu Holdings Ltd. | +0.4% | +506.06% | 加碼 |
| 23 | HON | Honeywell International Inc | +0.4% | +1089.44% | 加碼 |
| 24 | ALAB | Astera Labs Inc | +0.4% | +89.68% | 加碼 |
| 25 | ISRG | Intuitive Surgical Inc | +0.4% | +120.68% | 加碼 |
| 26 | GM | General Motors Co | +0.4% | +54.55% | 加碼 |
| 27 | RIVN | Rivian Automotive Inc-a | +0.4% | -5.55% | 加碼 |
| 28 | BMY | Bristol-myers Squibb Co | +0.3% | +322.49% | 加碼 |
| 29 | CRDO | Credo Technology Group Holding Ltd | +0.3% | +18.93% | 加碼 |
| 30 | LRCX | Lam Research CORP | +0.3% | +283.28% | 加碼 |
| 31 | ODFL | Old Dominion Freight Line | +0.3% | +1065.96% | 加碼 |
| 32 | TEAM | Atlassian Corp-cl A | +0.3% | -14.03% | 加碼 |
| 33 | ACN | Accenture plc | +0.3% | +4314.81% | 加碼 |
| 34 | VLO | Valero Energy CORP | +0.3% | +142.32% | 加碼 |
| 35 | SCHW | Schwab (charles) CORP | +0.3% | +5.57% | 加碼 |
| 36 | ABNB | Airbnb Inc-class A | +0.3% | +32.96% | 加碼 |
| 37 | BE | Bloom Energy Corp- A | +0.3% | -39.51% | 減碼 |
| 38 | ROKU | Roku Inc | +0.3% | +5035.71% | 加碼 |
| 39 | IBKR | Interactive Brokers Gro-cl A | +0.3% | +24.09% | 加碼 |
| 40 | W | Wayfair Inc- Class A | +0.3% | +11.80% | 加碼 |
| 41 | BAC | Bank Of America CORP | +0.3% | -0.43% | 加碼 |
| 42 | REGN | Regeneron Pharmaceuticals | +0.3% | -1.31% | 加碼 |
| 43 | HUBS | Hubspot Inc | +0.3% | +22.29% | 加碼 |
| 44 | ON | On Semiconductor | +0.3% | +46.59% | 加碼 |
| 45 | SE | Sea Ltd-adr | +0.2% | -35.58% | 加碼 |
| 46 | AMZN | Amazon.com Inc | +0.2% | +0.23% | 加碼 |
| 47 | MPC | Marathon Petroleum CORP | +0.2% | +65.96% | 加碼 |
| 48 | AER | AerCap Holdings N.V. | +0.2% | +55.18% | 加碼 |
| 49 | CHWY | Chewy Inc - Class A | +0.2% | -14.82% | 加碼 |
| 50 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | +521.63% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Two Sigma Advisers, LP 在 Q3 2025 季度的美股持倉總市值約為 US$401.0億，共申報了 2311 個公開持股部位。
在 Q3 2025 季度，Two Sigma Advisers, LP 按市值排列的前三大核心持股分別為：NVDA (3.1%)、MSFT (3.0%)、AAPL (2.8%)。其中最大持股部位 NVDA 佔據整體投資組合約 3.1% 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
WMT
市值: US$5.5億
本季最大獲利了結 / 清倉標的
TMO
前期市值: US$2.6億
在 Q3 2025 季度中，Two Sigma Advisers, LP 共進行了 200 項持倉異動，包含新建倉 17 個部位、加碼 82 個部位、減碼 79 個部位以及清倉 22 個部位。 其中最大新建倉標的為 WMT。 本季清倉部位包含 TMO。
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。