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: 0001257391
申報總市值
US$76.5億
US$76.5億
486 檔
26.8%
Whitebox Advisors LLC 在 Q4 2025 季度的美股部位總計估值為 US$76.5億，分散於 486 個持倉標的之中，反映其市場參與廣度與投資規模。
Q4 2025 數據顯示 Whitebox Advisors LLC 積極進場，新開立 73 個部位並同步加碼 31 檔個股，反映機構在該季度的資金注入與籌碼積累。
從部位權重觀察，前 5 大標的（包含 WDC 3 11-15-28, LITE 1.5 12-15-29, SPY）累計市值佔比達 26.8%，是驅動 Whitebox Advisors LLC 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 486 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 | WDC 3 11-15-28債券 | Western Digital CORP | 債券 | 13.29% | -18.01% | EXIT | |
| 2 | LITE 1.5 12-15-29債券 | Lumentum Holdings Inc | 債券 | 5.35% | -8.77% | +6.90% | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 4.35% | +0.88% | -30.77% | |
| 4 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | 債券 | 3.30% | +0.24% | +111.94% | |
| 5 | SNOW 0 10-01-27債券 | Snowflake Inc | 債券 | 2.84% | -0.53% | +3.05% | |
| 6 | SNOW 0 10-01-29債券 | Snowflake Inc | 債券 | 2.75% | +1.21% | +48.81% | |
| 7 | NVDA | Nvidia CORP | 股票-科技 | 2.65% | +0.11% | +400.00% | |
| 8 | ECHO 3.875 11-30-30債券 | Echostar CORP | 債券 | 2.60% | -0.32% | +30.18% | |
| 9 | SPHR 3.5 12-01-28債券 | Sphere Entertainment Co | 債券 | 2.59% | +1.24% | — | |
| 10 | APLD 2.75 06-01-30債券 | Applied Digital CORP | 債券 | 2.33% | +0.66% | — | |
| 11 | IBIT | Ishares Bitcoin Trust ETF | ETF-加密貨幣 | 2.11% | -0.71% | EXIT | |
| 12 | TCOM 0.75 06-15-29債券 | Trip.com Group LTD | 債券 | 2.06% | -0.24% | +11.16% | |
| 13 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | 債券 | 1.88% | -1.97% | +38.68% | |
| 14 | CADE | Cadence Bank | 股票-其他 | 1.82% | — | — | |
| 15 | MSTR 2.25 06-15-32債券 | Strategy Inc | 債券 | 1.75% | — | — | |
| 16 | LEU 2.25 11-01-30債券 | Centrus Energy CORP | 債券 | 1.73% | +0.04% | — | |
| 17 | GTLS | Chart Industries Inc | 股票-工業 | 1.64% | -1.66% | +76.32% | |
| 18 | CMA | Comerica Inc | 股票-其他 | 1.54% | — | — | |
| 19 | COIN 0.25 04-01-30債券 | Coinbase Global Inc | 債券 | 1.31% | +0.56% | -19.44% | |
| 20 | UPST 2 10-01-29債券 | Upstart Holdings Inc | 債券 | 1.25% | -0.16% | — | |
| 21 | JBLU 2.5 09-01-29債券 | Jetblue Airways CORP | 債券 | 1.17% | +0.13% | -9.79% | |
| 22 | WOLF | Wolfspeed Inc | 股票-其他 | 1.14% | — | -2.63% | |
| 23 | ✓ | Cyberark Software LTD. Cmn | 股票-其他 | 1.08% | — | +23.91% | |
| 24 | RIVN 3.625 10-15-30債券 | Rivian Auto Inc | 債券 | 1.03% | +0.17% | +14.10% | |
| 25 | LBRDK | Liberty Broadband-c | 股票-通訊服務 | 1.02% | -0.82% | +1.75% | |
| 26 | MSTR 0 12-01-29債券 | Strategy Inc | 債券 | 0.94% | -0.82% | — | |
| 27 | W 3.5 11-15-28債券 | Wayfair Inc | 債券 | 0.93% | -0.38% | EXIT | |
| 28 | OIH | Vaneck Oil Services ETF | ETF-其他 | 0.92% | — | — | |
| 29 | MARA 0 06-01-31債券 | Mara Holdings Inc | 債券 | 0.87% | -0.06% | — | |
| 30 | SMCI | Super Micro Computer Inc | 股票-科技 | 0.87% | +0.28% | +75.00% | |
| 31 | COIN 0.5 06-01-26債券 | Coinbase Global Inc | 債券 | 0.86% | — | +112.09% | |
| 32 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 0.86% | +0.42% | — | |
| 33 | MARA 0 03-01-30債券 | Mara Holdings Inc | 債券 | 0.78% | +0.18% | — | |
| 34 | OMER 9.5 06-15-29債券 | Omeros CORP | 債券 | 0.77% | -0.22% | +10.82% | |
| 35 | UPST 1 11-15-30債券 | Upstart Holdings Inc | 債券 | 0.75% | +0.17% | — | |
| 36 | ECPG 4 03-15-29債券 | Encore Capital Group Inc | 債券 | 0.74% | -0.19% | -5.00% | |
| 37 | TFPM | Triple Flag Precious Met | 股票-原物料 | 0.72% | -0.06% | -15.14% | |
| 38 | GPOR | Gulfport Energy CORP | 股票-其他 | 0.66% | +0.04% | -18.21% | |
| 39 | CLSK 0 06-15-30債券 | Cleanspark Inc | 債券 | 0.66% | +0.37% | — | |
| 40 | MSTR 0.625 09-15-28債券 | Strategy Inc | 債券 | 0.61% | -0.09% | — | |
| 41 | RUN 4 03-01-30債券 | Sunrun Inc | 債券 | 0.59% | -0.09% | -30.55% | |
| 42 | FRPT 3 04-01-28債券 | Freshpet Inc | 債券 | 0.52% | — | — | |
| 43 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.50% | — | — | |
| 44 | HLF 4.25 06-15-28債券 | Herbalife LTD | 債券 | 0.49% | +0.01% | +9.30% | |
| 45 | MARA | Mara Holdings Inc | 股票-金融 | 0.49% | +0.04% | +34.85% | |
| 46 | LUMN | Lumen Technologies Inc | 股票-通訊服務 | 0.48% | +0.05% | +0.93% | |
| 47 | MARA 2.125 09-01-31債券 | Mara Holdings Inc | 債券 | 0.48% | +0.21% | +16.69% | |
| 48 | FOX | Fox CORP - Class B | 股票-通訊服務 | 0.48% | +0.01% | +22.80% | |
| 49 | 8QR | Confluent Inc-class A | 股票-其他 | 0.45% | — | — | |
| 50 | HEI-A | Heico Corp-class A | 股票-其他 | 0.45% | +0.13% | +1.58% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | WDC 3 11-15-28債券 | Western Digital CORP | +3.2% | — | 不變 |
| 2 | LITE 1.5 12-15-29債券 | Lumentum Holdings Inc | +2.9% | +6.90% | 加碼 |
| 3 | NVDA | Nvidia CORP | +2.1% | +400.00% | 加碼 |
| 4 | BABA 0.5 06-01-31債券 | Alibaba Group Holding | +1.3% | +111.94% | 加碼 |
| 5 | LITE 0.5 12-15-26債券 | Lumentum Holdings Inc | +1.2% | +38.68% | 加碼 |
| 6 | WOLF | Wolfspeed Inc | +1% | -2.63% | 減碼 |
| 7 | ECHO 3.875 11-30-30債券 | Echostar CORP | +1% | +30.18% | 加碼 |
| 8 | SNOW 0 10-01-29債券 | Snowflake Inc | +0.7% | +48.81% | 加碼 |
| 9 | GTLS | Chart Industries Inc | +0.7% | +76.32% | 加碼 |
| 10 | SPHR 3.5 12-01-28債券 | Sphere Entertainment Co | +0.6% | — | 不變 |
| 11 | OMER 9.5 06-15-29債券 | Omeros CORP | +0.6% | +10.82% | 加碼 |
| 12 | COIN 0.5 06-01-26債券 | Coinbase Global Inc | +0.4% | +112.09% | 加碼 |
| 13 | WBD | Warner Bros Discovery Inc | +0.3% | +1155.46% | 加碼 |
| 14 | RIVN 3.625 10-15-30債券 | Rivian Auto Inc | +0.2% | +14.10% | 加碼 |
| 15 | FOX | Fox CORP - Class B | +0.1% | +22.80% | 加碼 |
| 16 | IBIT | Ishares Bitcoin Trust ETF | +0.1% | +50.00% | 加碼 |
| 17 | ELBM | Electra Battery Materials Co | +0.1% | +2783.84% | 加碼 |
| 18 | RIVN | Rivian Automotive Inc-a | +0.1% | — | 不變 |
| 19 | HLF 4.25 06-15-28債券 | Herbalife LTD | +0.1% | +9.30% | 加碼 |
| 20 | LUMN | Lumen Technologies Inc | +0.1% | +0.93% | 加碼 |
| 21 | ✓ | Cyberark Software LTD. Cmn | +0.1% | +23.91% | 加碼 |
| 22 | HLF | Herbalife Ltd. | +0.1% | — | 不變 |
| 23 | BLCO | Bausch + Lomb CORP | 0% | +17.85% | 加碼 |
| 24 | MGM | Mgm Resorts International | 0% | +33.57% | 加碼 |
| 25 | ECH | Ishares Msci Chile ETF | 0% | +30.83% | 加碼 |
| 26 | CZR | Caesars Entertainment Inc | 0% | +229.17% | 加碼 |
| 27 | W 3.5 11-15-28債券 | Wayfair Inc | 0% | — | 不變 |
| 28 | SRPT | Sarepta Therapeutics Inc | 0% | — | 不變 |
| 29 | JBLU | Jetblue Airways CORP | 0% | +40.00% | 加碼 |
| 30 | HTZ 8 07-15-29債券 | Hertz Corp/the | 0% | +39.06% | 加碼 |
| 31 | BHC | Bausch Health Cos Inc | 0% | +55.20% | 加碼 |
| 32 | OIH | Vaneck Oil Services ETF | — | — | 不變 |
| 33 | AMCX 4.25 02-15-29 *債券 | Amc Global Media Inc | 0% | — | 不變 |
| 34 | PTCT 1.5 09-15-26債券 | Ptc Therapeutics Inc | 0% | -7.89% | 減碼 |
| 35 | NBR 1.75 06-15-29債券 | Nabors Industries Inc | 0% | — | 不變 |
| 36 | SMCI | Super Micro Computer Inc | 0% | +75.00% | 加碼 |
| 37 | ECPG 4 03-15-29債券 | Encore Capital Group Inc | 0% | -5.00% | 減碼 |
| 38 | ✓ | Willow Lane Acquisition CORP | 0% | -45.45% | 減碼 |
| 39 | ✓ | Vine Hill Cap Invt CORP. | 0% | -43.40% | 減碼 |
| 40 | NIO | Nio Inc - Adr | 0% | — | 不變 |
| 41 | TCOM 0.75 06-15-29債券 | Trip.com Group LTD | 0% | +11.16% | 加碼 |
| 42 | ✓ | Cantor Equity Partners Ii In | 0% | -51.67% | 減碼 |
| 43 | FRPT 3 04-01-28債券 | Freshpet Inc | 0% | — | 不變 |
| 44 | ✓ | 0% | -27.63% | 減碼 | |
| 45 | NWSA | News CORP - Class A | 0% | -11.64% | 減碼 |
| 46 | CIVI | Civitas Resources Inc | 0% | +6.97% | 加碼 |
| 47 | EWZ | Ishares Msci Brazil ETF | -0.1% | -82.98% | 減碼 |
| 48 | XRX | Xerox Holdings CORP | -0.1% | — | 不變 |
| 49 | GRFS | Grifols Sa-adr | -0.1% | — | 不變 |
| 50 | AMC | Amc Entertainment Hlds-cl A | -0.1% | — | 不變 |
根據 SEC 官方 Form 13F 申報備案，Whitebox Advisors LLC 在 Q4 2025 季度的美股持倉總市值約為 US$76.5億，共申報了 486 個公開持股部位。
在 Q4 2025 季度，Whitebox Advisors LLC 按市值排列的前三大核心持股分別為：WDC 3 11-15-28 (13.3%)、LITE 1.5 12-15-29 (5.3%)、SPY (4.3%)。其中最大持股部位 WDC 3 11-15-28 佔據整體投資組合約 13.3% 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
APLD 2.75 06-01-30
市值: US$1.6億
本季最大獲利了結 / 清倉標的
BE 3 06-01-29
前期市值: US$4.1億
在 Q4 2025 季度中，Whitebox Advisors LLC 共進行了 181 項持倉異動，包含新建倉 73 個部位、加碼 31 個部位、減碼 32 個部位以及清倉 45 個部位。 其中最大新建倉標的為 APLD 2.75 06-01-30。 本季清倉部位包含 BE 3 06-01-29。
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。