Price T Rowe Associates2026-Q1
普信集团（T. Rowe Price Associates）本季度大幅减持微软，持仓变动为-$17.40B，权重由6.56%降至5.02%。同时，基金新建仓阿斯利康（AZN），规模达$3.84B，并完全退出AZNN，后者此前持仓为$4.47B。
| Ticker | 操作 | 市值（美元） | 组合占比 |
|---|---|---|---|
| AZN | 新建仓 | $3.84B | 0.44% |
| AZNN | 完全退出 | $4.47B | 0.48% |
新仓与退出动作有限，但新建仓AZN意味着基金开始在制药领域布局。
| Ticker | 操作 | 市值变化 | 权重变化（百分点） |
|---|---|---|---|
| MSFT | 减持 | -$17.40B | -1.54pts |
| NVDA | 减持 | -$5.05B | -0.04pts |
| AMZN | 减持 | -$4.61B | -0.30pts |
| AAPL | 减持 | -$4.46B | -0.08pts |
| META | 减持 | -$4.31B | -0.32pts |
| AVGO | 减持 | -$3.46B | -0.17pts |
| LLY | 减持 | -$3.15B | -0.24pts |
| GOOGL | 减持 | -$3.13B | -0.15pts |
| GOOG | 减持 | -$2.60B | -0.13pts |
| TSLA | 减持 | -$2.29B | -0.17pts |
| V | 减持 | -$2.00B | -0.11pts |
| APP | 减持 | -$1.94B | -0.19pts |
| APH | 减持 | -$1.82B | -0.17pts |
| MA | 减持 | -$1.59B | -0.10pts |
| INTU | 减持 | -$1.55B | -0.15pts |
| GE | 减持 | -$1.52B | -0.12pts |
| TMO | 减持 | -$1.36B | -0.12pts |
| ISRG | 减持 | -$1.34B | -0.10pts |
| ANET | 减持 | -$1.27B | -0.11pts |
| XEL | 减持 | -$1.26B | -0.13pts |
| ELV | 减持 | -$1.22B | -0.12pts |
| DASH | 减持 | -$1.13B | -0.11pts |
| MELI | 减持 | -$1.05B | -0.09pts |
| CI | 减持 | -$1.04B | -0.11pts |
| BAC | 减持 | -$1.01B | -0.07pts |
| PLTR | 减持 | -$985.3M | -0.09pts |
| C | 减持 | -$982.0M | -0.08pts |
| JPM | 减持 | -$917.9M | -0.04pts |
| ACN | 减持 | -$913.2M | -0.10pts |
| QCOM | 减持 | -$882.6M | -0.09pts |
| COP | 增持 | +$2.14B | +0.28pts |
| XOM | 增持 | +$1.91B | +0.25pts |
| CVNA* | 增持 | -$1.89B | -0.16pts |
| AMD | 增持 | +$1.52B | +0.21pts |
| JNJ | 增持 | +$1.46B | +0.19pts |
| NFLX | 增持 | +$1.45B | +0.23pts |
| NOW* | 增持 | -$1.40B | -0.13pts |
| CSCO | 增持 | +$1.16B | +0.16pts |
| CIEN | 增持 | +$1.09B | +0.14pts |
| CVX | 增持 | +$1.06B | +0.15pts |
| IR | 增持 | +$940.2M | +0.12pts |
| PM | 增持 | +$929.1M | +0.13pts |
| CNQ | 增持 | +$892.6M | +0.11pts |
| COST | 增持 | +$881.9M | +0.12pts |
| VRT | 增持 | +$879.5M | +0.11pts |
| GEV | 增持 | +$870.9M | +0.11pts |
| ORCL* | 增持 | -$870.6M | -0.08pts |
| DE | 增持 | +$859.9M | +0.12pts |
减持集中于大型科技股，前六大减持标的均为信息技术与通信服务巨头；增持则向能源（COP、XOM、CVX、CNQ）、金融（JPM、BAC等高权重组继续微减但整体减持）及部分工业（GE、DE）、健康（JNJ）扩散。
| 指标 | 本季度 | 上一季度 |
|---|---|---|
| 持股数量 | 3133 | 3090 |
| 换手率 | 0.236097 | 0.185734 |
| HHI集中度 | 0.017475 | 0.020013 |
| 动量倾斜（百分点） | 0.007752% | 0.015076% |
| 变异系数 | 7.33248 | 7.801281 |
| 映射价值比率 | 0.968796 | 0.965969 |
| 行业权重： | ||
| 能源 | 0.0478 | 0.0313 |
| 原材料 | 0.0183 | 0.0145 |
| 公用事业 | 0.0195 | 0.0180 |
| 金融 | 0.1168 | 0.1233 |
| 医疗健康 | 0.1054 | 0.1044 |
| 工业 | 0.0863 | 0.0758 |
| 房地产 | 0.0260 | 0.0235 |
| 必需消费品 | 0.0316 | 0.0261 |
| 通信服务 | 0.1055 | 0.1081 |
| 可选消费 | 0.0995 | 0.1072 |
| 信息技术 | 0.3434 | 0.3677 |
投资组合持有股票数量从3090只增至3133只，换手率从18.6%上升至23.6%，但集中度（HHI）下滑，显示持仓进一步分散。信息技术行业权重下降2.43个百分点，能源、工业权重各增加约1个百分点，行业再平衡力度加大。
Bottom Line：普信集团在2026年第一季度对科技核心持仓进行了系统性削减，微软、英伟达、苹果、亚马逊等合计减持金额突出，同时利用资金增持能源、制药及部分周期性工业标的。新建仓AZN与清仓AZNN显示其在制药板块内部进行标的选择切换，对成长型科技股的减持态度鲜明，组合整体换手率上升反映调仓节奏加快。