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: 0001895612
申報總市值
US$4.6億
US$4.6億
131 檔
10.7%
在 Q1 2025 的 13F 官方備案中，VELA Investment Management, LLC 管理的美股投資組合規模來到 US$4.6億，整體持股檔數為 131 檔。
觀察 Q1 2025 的資金脈絡，VELA Investment Management, LLC 在獲利結算 16 檔個股的同時，將資本重新部署至 8 檔新選標的，展現主動管理機構的輪動節奏。
從部位權重觀察，前 5 大標的（包含 KEX, BRK-B, HUBG）累計市值佔比達 10.7%，是驅動 VELA Investment Management, LLC 該季度整體投資組合績效表現的核心支柱。
本季最大新建倉標的
ADBE
市值: US$172.6萬
本季最大獲利了結 / 清倉標的
NVDA
前期市值: US$1017.0萬
| # | 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 | KEX | Kirby CORP | 股票-工業 | 4.13% | -0.72% | +4.04% | |
| 2 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 3.25% | -0.03% | -8.92% | |
| 3 | HUBG | Hub Group Inc-cl A | 股票-其他 | 2.91% | -0.02% | -0.33% | |
| 4 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.58% | +0.30% | -27.63% | |
| 5 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.54% | +0.03% | -16.92% | |
| 6 | GHC | Graham Holdings Co-class B | 股票-工業 | 2.51% | — | -13.95% | |
| 7 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 2.22% | — | -47.62% | |
| 8 | CRTO | Criteo Sa-spon Adr | 股票-其他 | 2.10% | -0.34% | +20.23% | |
| 9 | JNJ | Johnson & Johnson | 股票-醫療保健 | 2.05% | -0.27% | +4.89% | |
| 10 | SYY | Sysco CORP | 股票-非循環性消費 | 1.99% | -0.86% | EXIT | |
| 11 | LECO | Lincoln Electric Holdings | 股票-工業 | 1.98% | — | +27.10% | |
| 12 | COKE | Coca-cola Consolidated Inc | 股票-非循環性消費 | 1.67% | -0.03% | -0.15% | |
| 13 | ACGL | Arch Capital Group Ltd. | 股票-金融 | 1.63% | -0.16% | +9.73% | |
| 14 | AIT | Applied Industrial Tech Inc | 股票-工業 | 1.54% | -0.02% | -0.47% | |
| 15 | MSFT | Microsoft CORP | 股票-科技 | 1.53% | +0.46% | -16.42% | |
| 16 | DIS | Walt Disney Co/the | 股票-通訊服務 | 1.45% | +0.07% | +20.52% | |
| 17 | CSX | Csx CORP | 股票-工業 | 1.43% | -0.02% | +91.86% | |
| 18 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.41% | -0.19% | +71.15% | |
| 19 | AGI | Alamos Gold Inc-class A | 股票-原物料 | 1.41% | -0.54% | -15.96% | |
| 20 | ABT | Abbott Laboratories | 股票-醫療保健 | 1.36% | +0.59% | -8.05% | |
| 21 | AXS | AXIS Capital Holdings Limited | 股票-金融 | 1.31% | +0.07% | -11.74% | |
| 22 | NOC | Northrop Grumman CORP | 股票-工業 | 1.27% | -0.04% | +23.61% | |
| 23 | VVV | Valvoline Inc | 股票-循環性消費 | 1.26% | +0.08% | +36.93% | |
| 24 | MMM | 3m Co | 股票-工業 | 1.18% | +0.02% | -5.73% | |
| 25 | PFGC | Performance Food Group Co | 股票-非循環性消費 | 1.15% | +0.17% | +8.64% | |
| 26 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.09% | -0.07% | -8.86% | |
| 27 | CIVI | Civitas Resources Inc | 股票-其他 | 1.08% | — | -7.91% | |
| 28 | GBX | Greenbrier Companies Inc | 股票-其他 | 1.07% | -0.12% | -33.29% | |
| 29 | FIS | Fidelity National Info Serv | 股票-科技 | 1.05% | -0.03% | +29.71% | |
| 30 | CPA | Copa Holdings, S.A. | 股票-其他 | 1.02% | +0.30% | — | |
| 31 | SBUX | Starbucks CORP | 股票-循環性消費 | 1.01% | -0.08% | EXIT | |
| 32 | T | At&t Inc | 股票-通訊服務 | 0.98% | — | +0.00% | |
| 33 | MAMA | Mama's Creations Inc | 股票-其他 | 0.97% | +0.04% | +17.15% | |
| 34 | WIX | Wix.com Ltd. | 股票-科技 | 0.97% | -2.98% | EXIT | |
| 35 | BATRK | Atlanta Braves Holdings In-c | 股票-其他 | 0.96% | +0.14% | +0.23% | |
| 36 | AGO | Assured Guaranty Ltd. | 股票-金融 | 0.95% | -0.05% | — | |
| 37 | MO | Altria Group Inc | 股票-非循環性消費 | 0.94% | — | +0.20% | |
| 38 | WHD | Cactus Inc - A | 股票-其他 | 0.92% | +0.06% | +96.47% | |
| 39 | EHC | Encompass Health CORP | 股票-醫療保健 | 0.91% | +0.36% | — | |
| 40 | C | Citigroup Inc | 股票-金融 | 0.90% | +0.04% | -8.59% | |
| 41 | BRKR | Bruker CORP | 股票-醫療保健 | 0.90% | +0.16% | +239.23% | |
| 42 | RRC | Range Resources CORP | 股票-能源 | 0.88% | -0.04% | -31.54% | |
| 43 | SEB | Seaboard CORP | 股票-其他 | 0.82% | — | +1.15% | |
| 44 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.79% | -0.05% | -7.60% | |
| 45 | BAC | Bank Of America CORP | 股票-金融 | 0.79% | +0.24% | — | |
| 46 | SU | Suncor Energy Inc | 股票-能源 | 0.79% | -0.17% | +0.05% | |
| 47 | ADSK | Autodesk Inc | 股票-科技 | 0.77% | -0.13% | -26.78% | |
| 48 | AGM | Federal Agric Mtg Corp-cl C | 股票-其他 | 0.76% | +0.18% | +48.30% | |
| 49 | MOV | Movado Group Inc | 股票-其他 | 0.75% | -0.07% | +26.26% | |
| 50 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 0.73% | +0.27% | +53.94% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CSX | Csx CORP | +0.7% | +91.86% | 加碼 |
| 2 | SYY | Sysco CORP | +0.7% | +39.51% | 加碼 |
| 3 | PEP | Pepsico Inc | +0.7% | +71.15% | 加碼 |
| 4 | LECO | Lincoln Electric Holdings | +0.6% | +27.10% | 加碼 |
| 5 | BRKR | Bruker CORP | +0.6% | +239.23% | 加碼 |
| 6 | BRK-B | Berkshire Hathaway Inc-cl B | +0.6% | -8.92% | 減碼 |
| 7 | ADBE | Adobe Inc | +0.5% | NEW | 新建倉 |
| 8 | JNJ | Johnson & Johnson | +0.5% | +4.89% | 加碼 |
| 9 | ALGN | Align Technology Inc | +0.5% | +799.55% | 加碼 |
| 10 | NFG | National Fuel Gas Co | +0.5% | NEW | 新建倉 |
| 11 | WNC | Wabash National CORP | +0.5% | NEW | 新建倉 |
| 12 | KEX | Kirby CORP | +0.4% | +4.04% | 加碼 |
| 13 | NOC | Northrop Grumman CORP | +0.4% | +23.61% | 加碼 |
| 14 | VVV | Valvoline Inc | +0.4% | +36.93% | 加碼 |
| 15 | WHD | Cactus Inc - A | +0.4% | +96.47% | 加碼 |
| 16 | AGI | Alamos Gold Inc-class A | +0.4% | -15.96% | 減碼 |
| 17 | TMO | Thermo Fisher Scientific Inc | +0.4% | NEW | 新建倉 |
| 18 | CRTO | Criteo Sa-spon Adr | +0.4% | +20.23% | 加碼 |
| 19 | ACGL | Arch Capital Group Ltd. | +0.4% | +9.73% | 加碼 |
| 20 | WIX | Wix.com Ltd. | +0.3% | +74.79% | 加碼 |
| 21 | DOW | Dow Inc | +0.3% | NEW | 新建倉 |
| 22 | NLOP | Net Lease Office Property | +0.3% | NEW | 新建倉 |
| 23 | AGM | Federal Agric Mtg Corp-cl C | +0.3% | +48.30% | 加碼 |
| 24 | T | At&t Inc | +0.3% | +0.00% | 加碼 |
| 25 | FIS | Fidelity National Info Serv | +0.3% | +29.71% | 加碼 |
| 26 | COKE | Coca-cola Consolidated Inc | +0.3% | -0.15% | 減碼 |
| 27 | LYB | LyondellBasell Industries N.V. | +0.3% | +177.84% | 加碼 |
| 28 | BKNG | Booking Holdings Inc | +0.3% | +53.94% | 加碼 |
| 29 | UBER | Uber Technologies Inc | +0.3% | +30.70% | 加碼 |
| 30 | ZTS | Zoetis Inc | +0.3% | +42.70% | 加碼 |
| 31 | ABT | Abbott Laboratories | +0.2% | -8.05% | 減碼 |
| 32 | DIS | Walt Disney Co/the | +0.2% | +20.52% | 加碼 |
| 33 | 628 | Semrush Holdings Inc-a | +0.2% | +115.01% | 加碼 |
| 34 | JBI | Janus International Group In | +0.2% | +48.25% | 加碼 |
| 35 | MO | Altria Group Inc | +0.2% | +0.20% | 加碼 |
| 36 | MMM | 3m Co | +0.2% | -5.73% | 減碼 |
| 37 | JBHT | Hunt (jb) Transprt Svcs Inc | +0.2% | +50.19% | 加碼 |
| 38 | IBP | Installed Building Products | +0.2% | NEW | 新建倉 |
| 39 | MPLX | Mplx LP | +0.2% | +11.91% | 加碼 |
| 40 | SEB | Seaboard CORP | +0.2% | +1.15% | 加碼 |
| 41 | EHC | Encompass Health CORP | +0.2% | — | 不變 |
| 42 | GHC | Graham Holdings Co-class B | +0.2% | -13.95% | 減碼 |
| 43 | TSN | Tyson Foods Inc-cl A | +0.2% | +45.61% | 加碼 |
| 44 | MCHP | Microchip Technology Inc | +0.2% | +47.12% | 加碼 |
| 45 | CPA | Copa Holdings, S.A. | +0.2% | — | 不變 |
| 46 | ELV | Elevance Health Inc | +0.2% | +28.93% | 加碼 |
| 47 | WOR | Worthington Enterprises Inc | +0.2% | +2.09% | 加碼 |
| 48 | SU | Suncor Energy Inc | +0.2% | +0.05% | 加碼 |
| 49 | BATRK | Atlanta Braves Holdings In-c | +0.2% | +0.23% | 加碼 |
| 50 | WDAY | Workday Inc-class A | +0.1% | +70.39% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，VELA Investment Management, LLC 在 Q1 2025 季度的美股持倉總市值約為 US$4.6億，共申報了 131 個公開持股部位。
在 Q1 2025 季度，VELA Investment Management, LLC 按市值排列的前三大核心持股分別為：KEX (4.1%)、BRK-B (3.3%)、HUBG (2.9%)。其中最大持股部位 KEX 佔據整體投資組合約 4.1% 的權重。
在 Q1 2025 季度中，VELA Investment Management, LLC 共進行了 127 項持倉異動，包含新建倉 8 個部位、加碼 56 個部位、減碼 47 個部位以及清倉 16 個部位。 其中最大新建倉標的為 ADBE。 本季清倉部位包含 NVDA。
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。