13F 申报指南13F 概念全攻略
什么是 SEC Form 13F 申报？美股机构大户持股全攻略
完整解读 Form 13F 申报规范、1 亿美元门槛与 45 天延迟申报机制，学会如何追踪顶级对冲基金与机构法人持仓动向。
AlphaSMO 权威研究指南阅读专题
CIK: 0001730818
申报总市值
US$2.3亿
US$2.3亿
41 檔
27.7%
Q4 2025 季度申报显示，Baugh & Associates, LLC 披露的美股组合总市值为 US$2.3亿，涵盖 41 个不同之权益投资仓位。
在 Q4 2025，Baugh & Associates, LLC 展现出较为审慎的避险与获利了结姿态。本季共减仓 33 个仓位并完全清仓 1 档持股，调降曝光的仓位数量高于加仓动作。
在资产配置集中度方面，Baugh & Associates, LLC 的前 5 大核心持股（包含 MSFT, AAPL, MS 等）合计占整体申报市值的 27.7%，反映机构在主要关键仓位上的权重分布。
| # | 代码 | 标的名称 | 资产子类别 | 占比 | 占比变动 | 持仓量变化 | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | 股票-科技 | 8.73% | -0.32% | -3.13% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 7.73% | +0.36% | -3.81% | |
| 3 | MS | Morgan Stanley | 股票-金融 | 4.99% | +0.31% | -3.02% | |
| 4 | JPM | Jpmorgan Chase & Co | 股票-金融 | 4.70% | +0.27% | -3.05% | |
| 5 | WMT | Walmart Inc | 股票-非周期性消费 | 4.68% | -0.64% | -2.79% | |
| 6 | ABBV | Abbvie Inc | 股票-医疗保健 | 4.25% | +0.38% | -3.00% | |
| 7 | COST | Costco Wholesale CORP | 股票-非周期性消费 | 4.05% | -0.49% | -2.83% | |
| 8 | HD | Home Depot Inc | 股票-周期性消费 | 3.87% | +0.07% | -2.98% | |
| 9 | LOW | Lowe's Cos Inc | 股票-周期性消费 | 3.77% | -0.50% | -2.99% | |
| 10 | BAC | Bank Of America CORP | 股票-金融 | 3.29% | +0.19% | -3.27% | |
| 11 | INTC | Intel CORP | 股票-科技 | 3.25% | +4.02% | -4.82% | |
| 12 | NEE | Nextera Energy Inc | 股票-公用事业 | 3.09% | -0.63% | -3.37% | |
| 13 | MRK | Merck & Co. Inc. | 股票-医疗保健 | 2.92% | -0.14% | -2.79% | |
| 14 | ABT | Abbott Laboratories | 股票-医疗保健 | 2.83% | -0.57% | -3.27% | |
| 15 | TFC | Truist Financial CORP | 股票-金融 | 2.76% | +0.04% | -2.76% | |
| 16 | JNJ | Johnson & Johnson | 股票-医疗保健 | 2.72% | -0.08% | -1.73% | |
| 17 | XOM | Exxon Mobil CORP | 股票-能源 | 2.55% | -0.64% | -2.37% | |
| 18 | MO | Altria Group Inc | 股票-非周期性消费 | 2.49% | +0.03% | +0.12% | |
| 19 | PFE | Pfizer Inc | 股票-医疗保健 | 2.40% | -0.51% | +19.56% | |
| 20 | COP | Conocophillips | 股票-能源 | 2.33% | -0.68% | -2.80% | |
| 21 | QCOM | Qualcomm Inc | 股票-科技 | 2.28% | +0.71% | -2.25% | |
| 22 | CVX | Chevron CORP | 股票-能源 | 2.26% | -0.60% | -2.59% | |
| 23 | SO | Southern Co/the | 股票-公用事业 | 2.25% | -0.15% | -1.97% | |
| 24 | VZ | Verizon Communications Inc | 股票-通信服务 | 2.13% | -0.50% | -3.55% | |
| 25 | ARCC | Ares Capital CORP | 股票-金融 | 2.11% | -0.17% | -2.71% | |
| 26 | WY | Weyerhaeuser Co | 股票-房地产 | 1.97% | -0.30% | — | |
| 27 | O | Realty Income CORP | 股票-房地产 | 1.80% | -0.08% | -1.68% | |
| 28 | PEP | Pepsico Inc | 股票-非周期性消费 | 1.76% | -0.32% | -2.39% | |
| 29 | GOOG | Alphabet Inc-cl C | 股票-通信服务 | 1.75% | +0.17% | -1.77% | |
| 30 | ASML | ASML Holding N.V. | 股票-科技 | 1.46% | +0.71% | -1.80% | |
| 31 | ET | Energy Transfer LP | 股票-能源 | 1.16% | -0.09% | -1.05% | |
| 32 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 0.24% | +0.05% | +1.12% | |
| 33 | IBM | Intl Business Machines CORP | 股票-科技 | 0.22% | +0.03% | — | |
| 34 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股与成长 | 0.22% | +0.01% | +7.96% | |
| 35 | PGR | Progressive CORP | 股票-金融 | 0.18% | +0.02% | — | |
| 36 | SVC | Service Properties Trust | 股票-其他 | 0.16% | +0.02% | -19.37% | |
| 37 | KO | Coca-cola Co/the | 股票-非周期性消费 | 0.14% | +0.01% | -5.37% | |
| 38 | CAT | Caterpillar Inc | 股票-工业 | 0.14% | +0.09% | — | |
| 39 | SDY | Ss Spdr S&p Dividend ETF | ETF-其他 | 0.13% | +0.01% | -11.01% | |
| 40 | QTEC | First Trust Nasdq 100 Tech I | ETF-科技型 | 0.11% | +0.04% | -0.10% | |
| 41 | IWF | Ishares Russell 1000 Growth | ETF-其他 | 0.11% | — | -9.80% |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | MRK | Merck & Co. Inc. | +0.5% | -2.79% | 减仓 |
| 2 | MS | Morgan Stanley | +0.4% | -3.02% | 减仓 |
| 3 | GOOG | Alphabet Inc-cl C | +0.4% | -1.77% | 减仓 |
| 4 | PFE | Pfizer Inc | +0.3% | +19.56% | 加仓 |
| 5 | AAPL | Apple Inc | +0.3% | -3.81% | 减仓 |
| 6 | WMT | Walmart Inc | +0.2% | -2.79% | 减仓 |
| 7 | JNJ | Johnson & Johnson | +0.2% | -1.73% | 减仓 |
| 8 | INTC | Intel CORP | +0.1% | -4.82% | 减仓 |
| 9 | TFC | Truist Financial CORP | +0.1% | -2.76% | 减仓 |
| 10 | ASML | ASML Holding N.V. | +0.1% | -1.80% | 减仓 |
| 11 | XOM | Exxon Mobil CORP | +0.1% | -2.37% | 减仓 |
| 12 | BAC | Bank Of America CORP | +0.1% | -3.27% | 减仓 |
| 13 | NEE | Nextera Energy Inc | +0.1% | -3.37% | 减仓 |
| 14 | CAT | Caterpillar Inc | 0% | — | 不变 |
| 15 | IBM | Intl Business Machines CORP | 0% | — | 不变 |
| 16 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | +7.96% | 加仓 |
| 17 | QQQ | Invesco Qqq Trust Series 1 | — | +1.12% | 加仓 |
| 18 | QTEC | First Trust Nasdq 100 Tech I | — | -0.10% | 减仓 |
| 19 | PGR | Progressive CORP | 0% | — | 不变 |
| 20 | SDY | Ss Spdr S&p Dividend ETF | 0% | -11.01% | 减仓 |
| 21 | IWF | Ishares Russell 1000 Growth | 0% | -9.80% | 减仓 |
| 22 | PEP | Pepsico Inc | 0% | -2.39% | 减仓 |
| 23 | KO | Coca-cola Co/the | 0% | -5.37% | 减仓 |
| 24 | QCOM | Qualcomm Inc | 0% | -2.25% | 减仓 |
| 25 | JPM | Jpmorgan Chase & Co | 0% | -3.05% | 减仓 |
| 26 | ET | Energy Transfer LP | -0.1% | -1.05% | 减仓 |
| 27 | ARCC | Ares Capital CORP | -0.1% | -2.71% | 减仓 |
| 28 | COP | Conocophillips | -0.1% | -2.80% | 减仓 |
| 29 | CVX | Chevron CORP | -0.1% | -2.59% | 减仓 |
| 30 | SVC | Service Properties Trust | -0.1% | -19.37% | 减仓 |
| 31 | ABBV | Abbvie Inc | -0.2% | -3.00% | 减仓 |
| 32 | O | Realty Income CORP | -0.2% | -1.68% | 减仓 |
| 33 | VZ | Verizon Communications Inc | -0.3% | -3.55% | 减仓 |
| 34 | SO | Southern Co/the | -0.3% | -1.97% | 减仓 |
| 35 | LOW | Lowe's Cos Inc | -0.3% | -2.99% | 减仓 |
| 36 | ABT | Abbott Laboratories | -0.4% | -3.27% | 减仓 |
| 37 | MO | Altria Group Inc | -0.4% | +0.12% | 加仓 |
| 38 | COST | Costco Wholesale CORP | -0.4% | -2.83% | 减仓 |
| 39 | HD | Home Depot Inc | -0.8% | -2.98% | 减仓 |
| 40 | MSFT | Microsoft CORP | -0.9% | -3.13% | 减仓 |
| 41 | WY | Weyerhaeuser Co | — | NEW | 新建仓 |
| 42 | NVDA | Nvidia CORP | — | EXIT | 清仓 |
根据 SEC 官方 Form 13F 申报备案，Baugh & Associates, LLC 在 Q4 2025 季度的美股持仓总市值约为 US$2.3亿，共申报了 41 个公开持股仓位。
在 Q4 2025 季度，Baugh & Associates, LLC 按市值排列的前三大核心持股分别为：MSFT (8.7%)、AAPL (7.7%)、MS (5.0%)。其中最大持股仓位 MSFT 占据整体投资组合约 8.7% 的权重。
精选 AlphaSMO 大户持股与内部人交易深度分析，提升投资决策胜率
完整解读 Form 13F 申报规范、1 亿美元门槛与 45 天延迟申报机制，学会如何追踪顶级对冲基金与机构法人持仓动向。
本季最大新建仓标的
WY
市值: US$401.3万
本季最大获利了结 / 清仓标的
NVDA
前期市值: US$28.1万
在 Q4 2025 季度中，Baugh & Associates, LLC 共进行了 39 项持仓异动，包含新建仓 1 个仓位、加仓 4 个仓位、减仓 33 个仓位以及清仓 1 个仓位。 其中最大新建仓标的为 WY。 本季清仓仓位包含 NVDA。
本页面所有持股数据均直接同步自美国证券交易委员会（SEC）EDGAR 官方系统之 13F-HR / 13F-HR/A 季度申报文件。AlphaSMO 通过机器解析 CUSIP 与个股对照，提供 100% 精准对齐的历史时序数据集，并支持 Schema.org 结构化数据格式。
解析公司高管、董事与 10% 大股东之 Form 4 内部人交易申报，掌握高管自家股票买卖第一手信号。
深入剖析 5% 股权申报门槛、13D 与 13G 之差异，以及最新 SEC 申报时程规范，洞察机构法人的激进投资动向。