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: 0001597506
申報總市值
US$5.5億
US$5.5億
181 檔
98.0%
根據最新整理的 13F 季度數據集，Warberg Asset Management LLC 於 Q4 2025 結束時的管理資產規模為 US$5.5億。該機構在本季度申報了 181 檔美股持倉，呈現出該時期的主要投資地圖。
Q4 2025 的申報記錄反映 Warberg Asset Management LLC 的板塊替換策略：機構本季推動了 23 筆增持與 25 筆減持，籌碼呈現明顯的結構重組。
整體而言，Warberg Asset Management LLC 的前 5 大持股（包含 Spdr S&P 500 Etf Tr Put Option, AXON 0.5 12-15-27, Invesco QQQ Tr Put Option 06/2）貢獻了組合市值的 98.0%，形成該機構在 Q4 2025 季度的基本面基石。
本季最大新建倉標的
LITE 0.5 12-15-26
市值: US$875.8萬
本季最大獲利了結 / 清倉標的
SEALTD 2.375 12-01-25
前期市值: US$2390.9萬
| # | 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 | ✓ | Spdr S&P 500 Etf Tr Put Option | ETF-大型股與成長 | 51.93% | -33.62% | EXIT | |
| 2 | AXON 0.5 12-15-27債券 | Axon Enterprise Inc | 債券 | 3.66% | — | +92.02% | |
| 3 | ✓ | Invesco QQQ Tr Put Option 06/2 | 股票-其他 | 3.33% | -3.37% | EXIT | |
| 4 | WDC 3 11-15-28債券 | Western Digital CORP | 債券 | 3.16% | — | -18.57% | |
| 5 | MTSI 0.25 03-15-26債券 | M/a-com Tech Solutions | 債券 | 2.91% | — | +62.39% | |
| 6 | CNX 2.25 05-01-26債券 | Cnx Resources CORP | 債券 | 2.75% | -5.74% | EXIT | |
| 7 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | 債券 | 2.54% | -6.00% | EXIT | |
| 8 | MCHP 1.625 02-15-27債券 | Microchip Technology Inc | 債券 | 2.40% | +4.21% | +22.10% | |
| 9 | LYV 3.125 01-15-29債券 | Live Nation Entertainmen | 債券 | 1.86% | +0.75% | +0.50% | |
| 10 | VTR 3.75 06-01-26債券 | Ventas Realty LP | 債券 | 1.74% | -1.35% | EXIT | |
| 11 | BOX 0 01-15-26債券 | Box Inc | 債券 | 1.59% | — | — | |
| 12 | HALO 1 08-15-28債券 | Halozyme Therapeutics In | 債券 | 1.28% | -0.36% | +55.58% | |
| 13 | POST 2.5 08-15-27債券 | Post Holdings Inc | 債券 | 1.15% | -0.03% | +5.94% | |
| 14 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | 債券 | 1.05% | -11.42% | EXIT | |
| 15 | ALNY 1 09-15-27債券 | Alnylam Pharmaceuticals | 債券 | 0.89% | +0.02% | +66.73% | |
| 16 | SPOT 0 03-15-26債券 | Spotify USA Inc | 債券 | 0.84% | — | +1.00% | |
| 17 | PRGS 1 04-15-26債券 | Progress Software CORP | 債券 | 0.79% | — | — | |
| 18 | SNOW 0 10-01-27債券 | Snowflake Inc | 債券 | 0.74% | — | — | |
| 19 | WK 1.125 08-15-26債券 | Workiva Inc | 債券 | 0.70% | -0.35% | EXIT | |
| 20 | WT 3.25 06-15-26債券 | Wisdomtree Investments | 債券 | 0.70% | -1.70% | EXIT | |
| 21 | IONS 0 04-01-26債券 | Ionis Pharmaceuticals In | 債券 | 0.66% | — | — | |
| 22 | ✓ | Palantir Technologies Inc | 股票-其他 | 0.62% | -0.20% | EXIT | |
| 23 | F 0 03-15-26債券 | Ford Motor Company | 債券 | 0.54% | — | +6.60% | |
| 24 | TLT | iShares 20+ Year Treasury Bond ETF | ETF-政府公債 | 0.52% | -0.72% | EXIT | |
| 25 | ✓ | Carvana Co | 股票-其他 | 0.46% | -0.19% | EXIT | |
| 26 | SMHC | VanEck China Semiconductor ETF | ETF-新興市場 | 0.40% | — | — | |
| 27 | CNP 4.25 08-15-26債券 | Centerpoint Energy Inc | 債券 | 0.40% | -0.59% | EXIT | |
| 28 | OXY-WS | Occidental Petroleum-cw27 | 股票-其他 | 0.38% | -3.42% | -63.30% | |
| 29 | TYL 0.25 03-15-26債券 | Tyler Technologies Inc | 債券 | 0.36% | — | -50.36% | |
| 30 | WT 3.25 08-15-29債券 | Wisdomtree Inc | 債券 | 0.36% | -0.34% | — | |
| 31 | AWK 3.625 06-15-26債券 | American Water Capital C | 債券 | 0.33% | — | +8.26% | |
| 32 | NVDA | NVIDIA Corporation | 股票-科技 | 0.31% | -0.64% | EXIT | |
| 33 | STXS | Stereotaxis Inc | 股票-其他 | 0.31% | +0.01% | +5.50% | |
| 34 | UBER 0.875 12-01-28 2028債券 | Uber Technologies Inc | 債券 | 0.30% | +0.04% | +474.92% | |
| 35 | TLT | iShares 20+ Year Treasury Bond ETF | ETF-政府公債 | 0.29% | -0.16% | EXIT | |
| 36 | ✓ | Cantaloupe Inc | 股票-其他 | 0.29% | -0.43% | EXIT | |
| 37 | EPR 5.75 PERP C債券 | Epr Properties | 債券 | 0.26% | +0.15% | -31.76% | |
| 38 | SMHC | VanEck China Semiconductor ETF | ETF-新興市場 | 0.23% | -0.05% | EXIT | |
| 39 | CORZW | Core Scientific Inc - 27 | 股票-其他 | 0.23% | +0.92% | +15.24% | |
| 40 | ATRO 5.5 03-15-30債券 | Astronics CORP | 債券 | 0.21% | +4.82% | — | |
| 41 | GBX 2.875 04-15-28債券 | Greenbrier Cos Inc | 債券 | 0.20% | — | +7.86% | |
| 42 | EPR 9 PERP E債券 | Epr Properties | 債券 | 0.20% | +0.07% | +201.08% | |
| 43 | SLV | iShares Silver Trust | ETF-避險與商品 | 0.19% | -0.05% | EXIT | |
| 44 | ITRI 0 03-15-26債券 | Itron Inc | 債券 | 0.18% | — | +0.93% | |
| 45 | ✓ | Vendome Acquisition CORP I C | 股票-其他 | 0.17% | +0.01% | — | |
| 46 | AAPL | Apple Inc. | 股票-科技 | 0.16% | — | — | |
| 47 | ✓ | Rigetti Computing Inc | 股票-其他 | 0.16% | — | +50.25% | |
| 48 | ✓ | 股票-其他 | 0.14% | -0.03% | EXIT | ||
| 49 | NEN | New England Realty Assoc-lp | 股票-其他 | 0.13% | -0.02% | +49.30% | |
| 50 | ✓ | 股票-其他 | 0.13% | -0.25% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ✓ | Spdr S&P 500 Etf Tr Put Option | +20.7% | +115.31% | 加碼 |
| 2 | MTSI 0.25 03-15-26債券 | M/a-com Tech Solutions | +1.2% | +62.39% | 加碼 |
| 3 | AXON 0.5 12-15-27債券 | Axon Enterprise Inc | +0.5% | +92.02% | 加碼 |
| 4 | VTR 3.75 06-01-26債券 | Ventas Realty LP | +0.4% | +52.97% | 加碼 |
| 5 | ✓ | Carvana Co | +0.3% | +350.00% | 加碼 |
| 6 | UBER 0.875 12-01-28 2028債券 | Uber Technologies Inc | +0.2% | +474.92% | 加碼 |
| 7 | HALO 1 08-15-28債券 | Halozyme Therapeutics In | +0.1% | +55.58% | 加碼 |
| 8 | EPR 9 PERP E債券 | Epr Properties | +0.1% | +201.08% | 加碼 |
| 9 | ALNY 1 09-15-27債券 | Alnylam Pharmaceuticals | +0.1% | +66.73% | 加碼 |
| 10 | ✓ | Centrus Energy CORP | -0.2% | -40.00% | 減碼 |
| 11 | VOO | Vanguard S&P 500 ETF | -0.2% | -60.00% | 減碼 |
| 12 | IBIT | iShares Bitcoin Trust ETF | -0.2% | -37.50% | 減碼 |
| 13 | MCHP 1.625 02-15-27債券 | Microchip Technology Inc | -0.3% | +22.10% | 加碼 |
| 14 | EPR 5.75 PERP C債券 | Epr Properties | -0.3% | -31.76% | 減碼 |
| 15 | TLT | iShares 20+ Year Treasury Bond ETF | -0.3% | -16.67% | 減碼 |
| 16 | ✓ | Palantir Technologies Inc | -0.4% | -17.14% | 減碼 |
| 17 | CNX 2.25 05-01-26債券 | Cnx Resources CORP | -0.4% | — | 不變 |
| 18 | WDC 3 11-15-28債券 | Western Digital CORP | -0.4% | -18.57% | 減碼 |
| 19 | SPOT 0 03-15-26債券 | Spotify USA Inc | -0.5% | +1.00% | 加碼 |
| 20 | BOX 0 01-15-26債券 | Box Inc | -0.7% | — | 不變 |
| 21 | TYL 0.25 03-15-26債券 | Tyler Technologies Inc | -0.7% | -50.36% | 減碼 |
| 22 | WK 1.125 08-15-26債券 | Workiva Inc | -0.8% | -38.74% | 減碼 |
| 23 | LYV 3.125 01-15-29債券 | Live Nation Entertainmen | -0.9% | +0.50% | 加碼 |
| 24 | OXY-WS | Occidental Petroleum-cw27 | -1.4% | -63.30% | 減碼 |
| 25 | ✓ | Invesco QQQ Tr Put Option 06/2 | -1.6% | -11.76% | 減碼 |
| 26 | STX 3.5 06-01-28債券 | Seagate Hdd Cayman | -1.6% | -30.88% | 減碼 |
| 27 | SEALTD 2.375 12-01-25債券 | Sea LTD | — | EXIT | 清倉 |
| 28 | ITGR 2.125 02-15-28債券 | Integer Holdings CORP | — | EXIT | 清倉 |
| 29 | LRN 1.125 09-01-27債券 | Stride Inc | — | EXIT | 清倉 |
| 30 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | — | NEW | 新建倉 |
| 31 | RGTIW | Rigetti Computing -cw27 | — | EXIT | 清倉 |
| 32 | SNOW 0 10-01-27債券 | Snowflake Inc | — | NEW | 新建倉 |
| 33 | IONS 0 04-01-26債券 | Ionis Pharmaceuticals In | — | NEW | 新建倉 |
| 34 | SO 3.875 12-15-25債券 | Southern Co | — | EXIT | 清倉 |
| 35 | PRCH 9 05-15-30債券 | Porch Group Inc | — | EXIT | 清倉 |
| 36 | SMHC | VanEck China Semiconductor ETF | — | NEW | 新建倉 |
| 37 | EXPE 0 02-15-26債券 | Expedia Group Inc | — | EXIT | 清倉 |
| 38 | MCHX | Marchex, Inc. | — | EXIT | 清倉 |
| 39 | GTLS 6.75 12-15-25 B債券 | Chart Industries Inc | — | EXIT | 清倉 |
| 40 | EQIX | Equinix, Inc. | — | EXIT | 清倉 |
| 41 | ATRO 5.5 03-15-30債券 | Astronics CORP | — | NEW | 新建倉 |
| 42 | AAPL | Apple Inc. | — | NEW | 新建倉 |
| 43 | ✓ | — | NEW | 新建倉 | |
| 44 | BAC 7.25 PERP L債券 | Bank Of America CORP | — | NEW | 新建倉 |
| 45 | MSFT | Microsoft Corporation | — | EXIT | 清倉 |
| 46 | HOOD | Robinhood Markets, Inc. | — | EXIT | 清倉 |
| 47 | RGTI | Rigetti Computing Inc | — | NEW | 新建倉 |
| 48 | FORL | Four Leaf Acquisition Cor-a | — | EXIT | 清倉 |
| 49 | MU | Micron Technology, Inc. | — | NEW | 新建倉 |
| 50 | SLV | iShares Silver Trust | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Warberg Asset Management LLC 在 Q4 2025 季度的美股持倉總市值約為 US$5.5億，共申報了 181 個公開持股部位。
在 Q4 2025 季度，Warberg Asset Management LLC 按市值排列的前三大核心持股分別為：Spdr S&P 500 Etf Tr Put Option (51.9%)、AXON 0.5 12-15-27 (3.7%)、Invesco QQQ Tr Put Option 06/2 (3.3%)。其中最大持股部位 Spdr S&P 500 Etf Tr Put Option 佔據整體投資組合約 51.9% 的權重。
在 Q4 2025 季度中，Warberg Asset Management LLC 共進行了 48 項持倉異動，包含新建倉 11 個部位、加碼 12 個部位、減碼 12 個部位以及清倉 13 個部位。 其中最大新建倉標的為 LITE 0.5 12-15-26。 本季清倉部位包含 SEALTD 2.375 12-01-25。
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。