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: 0001395055
申报总市值
US$13.3亿
US$13.3亿
174 檔
22.7%
Callahan Advisors, LLC 在 Q4 2025 季度的美股仓位总计估值为 US$13.3亿，分散于 174 个持仓标的之中，反映其市场参与广度与投资规模。
Callahan Advisors, LLC 在 Q4 2025 进行了结构性的板块轮动与仓位换股。在开立 9 个全新仓位及加仓 12 档持股的同时，亦同步清仓 2 档并减仓 27 档标的。
在资产配置集中度方面，Callahan Advisors, LLC 的前 5 大核心持股（包含 GOOG, META, MSFT 等）合计占整体申报市值的 22.7%，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 | GOOG | Alphabet Inc-cl C | 股票-通信服务 | 6.79% | +0.39% | -4.06% | |
| 2 | META | Meta Platforms Inc-class A | 股票-通信服务 | 5.51% | -0.48% | -0.23% | |
| 3 | MSFT | Microsoft CORP | 股票-科技 | 4.96% | -0.34% | -0.00% | |
| 4 | AMZN | Amazon.com Inc | 股票-周期性消费 | 4.29% | +0.18% | +0.86% | |
| 5 | AAPL | Apple Inc | 股票-科技 | 3.16% | +0.11% | -3.25% | |
| 6 | BN | Brookfield CORP | 股票-金融 | 2.65% | -0.10% | +47.83% | |
| 7 | JPM | Jpmorgan Chase & Co | 股票-金融 | 2.56% | -0.01% | -1.27% | |
| 8 | CB | Chubb Limited | 股票-金融 | 2.50% | -0.10% | +1.86% | |
| 9 | NVDA | Nvidia CORP | 股票-科技 | 2.49% | +0.20% | +3.46% | |
| 10 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 2.45% | -0.09% | +0.62% | |
| 11 | CAT | Caterpillar Inc | 股票-工业 | 2.40% | +0.55% | -6.46% | |
| 12 | NEE | Nextera Energy Inc | 股票-公用事业 | 2.13% | -0.43% | -1.02% | |
| 13 | JNJ | Johnson & Johnson | 股票-医疗保健 | 2.05% | -0.19% | -2.55% | |
| 14 | BKNG | Booking Holdings Inc | 股票-周期性消费 | 2.04% | +0.05% | +1.89% | |
| 15 | LLY | Eli Lilly & Co | 股票-医疗保健 | 1.69% | +0.42% | +2.50% | |
| 16 | EQT | Eqt CORP | 股票-能源 | 1.58% | -0.43% | +3.16% | |
| 17 | MA | Mastercard Inc - A | 股票-金融 | 1.57% | -0.02% | +8.24% | |
| 18 | AMAT | Applied Materials Inc | 股票-科技 | 1.56% | +1.43% | -2.12% | |
| 19 | FDX | Fedex CORP | 股票-工业 | 1.54% | -0.41% | -1.83% | |
| 20 | MCD | Mcdonald's CORP | 股票-周期性消费 | 1.54% | -0.23% | +5.88% | |
| 21 | PEP | Pepsico Inc | 股票-非周期性消费 | 1.54% | -0.21% | -5.53% | |
| 22 | SYK | Stryker CORP | 股票-医疗保健 | 1.39% | +0.07% | -1.47% | |
| 23 | WMT | Walmart Inc | 股票-非周期性消费 | 1.32% | -0.27% | -4.18% | |
| 24 | XOM | Exxon Mobil CORP | 股票-能源 | 1.32% | -0.55% | -2.23% | |
| 25 | UNH | Unitedhealth Group Inc | 股票-医疗保健 | 1.29% | +0.31% | -4.43% | |
| 26 | PFE | Pfizer Inc | 股票-医疗保健 | 1.28% | -0.46% | -12.06% | |
| 27 | PG | Procter & Gamble Co/the | 股票-非周期性消费 | 1.18% | -0.08% | -5.85% | |
| 28 | LOW | Lowe's Cos Inc | 股票-周期性消费 | 1.18% | -0.19% | -1.30% | |
| 29 | ASML | ASML Holding N.V. | 股票-科技 | 1.16% | +0.64% | +2.55% | |
| 30 | CVX | Chevron CORP | 股票-能源 | 1.06% | -0.39% | -2.38% | |
| 31 | STE | STERIS plc | 股票-医疗保健 | 0.96% | -0.11% | -5.41% | |
| 32 | FTNT | Fortinet Inc | 股票-科技 | 0.88% | +0.62% | -1.67% | |
| 33 | ABT | Abbott Laboratories | 股票-医疗保健 | 0.86% | -0.12% | -1.45% | |
| 34 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 0.84% | +0.60% | +6.02% | |
| 35 | DY | Dycom Industries Inc | 股票-工业 | 0.83% | +0.27% | -7.87% | |
| 36 | IQV | Iqvia Holdings Inc | 股票-医疗保健 | 0.80% | -0.08% | -4.38% | |
| 37 | CRM | Salesforce Inc | 股票-科技 | 0.80% | -0.15% | -9.36% | |
| 38 | CTVA | Corteva Inc | 股票-原材料 | 0.77% | -0.28% | -6.89% | |
| 39 | EXP | Eagle Materials Inc | 股票-原材料 | 0.76% | +0.05% | -0.96% | |
| 40 | URI | United Rentals Inc | 股票-工业 | 0.75% | +0.26% | -0.14% | |
| 41 | GOOGL | Alphabet Inc-cl A | 股票-通信服务 | 0.74% | — | -2.32% | |
| 42 | PAYX | Paychex Inc | 股票-科技 | 0.74% | +0.13% | +8.57% | |
| 43 | KMI | Kinder Morgan, Inc. | 股票-能源 | 0.72% | -0.14% | -5.00% | |
| 44 | ETN | Eaton Corporation plc | 股票-工业 | 0.69% | +0.06% | +0.73% | |
| 45 | WELL | Welltower Inc | 股票-房地产 | 0.68% | +0.02% | -2.65% | |
| 46 | ADBE | Adobe Inc | 股票-科技 | 0.62% | -0.11% | -22.19% | |
| 47 | CVS | Cvs Health CORP | 股票-医疗保健 | 0.59% | +0.24% | +2.37% | |
| 48 | CAH | Cardinal Health Inc | 股票-医疗保健 | 0.56% | -0.06% | -23.11% | |
| 49 | INTU | Intuit Inc | 股票-科技 | 0.55% | -0.43% | — | |
| 50 | AXP | American Express Co | 股票-金融 | 0.54% | — | +0.01% |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | +1.1% | -4.06% | 减仓 |
| 2 | LLY | Eli Lilly & Co | +0.5% | +2.50% | 加仓 |
| 3 | NFLX | Netflix Inc | +0.3% | +10161.19% | 加仓 |
| 4 | AMAT | Applied Materials Inc | +0.3% | -2.12% | 减仓 |
| 5 | FDX | Fedex CORP | +0.2% | -1.83% | 减仓 |
| 6 | CB | Chubb Limited | +0.2% | +1.86% | 加仓 |
| 7 | CAT | Caterpillar Inc | +0.2% | -6.46% | 减仓 |
| 8 | GEV | GE Vernova Inc | +0.2% | +834.80% | 加仓 |
| 9 | GOOGL | Alphabet Inc-cl A | +0.1% | -2.32% | 减仓 |
| 10 | AMZN | Amazon.com Inc | +0.1% | +0.86% | 加仓 |
| 11 | JNJ | Johnson & Johnson | +0.1% | -2.55% | 减仓 |
| 12 | ASML | ASML Holding N.V. | +0.1% | +2.55% | 加仓 |
| 13 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | +6.02% | 加仓 |
| 14 | KVUE | Kenvue Inc | +0.1% | +66.92% | 加仓 |
| 15 | MA | Mastercard Inc - A | +0.1% | +8.24% | 加仓 |
| 16 | IQV | Iqvia Holdings Inc | +0.1% | -4.38% | 减仓 |
| 17 | NEE | Nextera Energy Inc | 0% | -1.02% | 减仓 |
| 18 | MCD | Mcdonald's CORP | 0% | +5.88% | 加仓 |
| 19 | AAPL | Apple Inc | — | -3.25% | 减仓 |
| 20 | NVDA | Nvidia CORP | — | +3.46% | 加仓 |
| 21 | DHI | Dr Horton Inc | -0.1% | -43.47% | 减仓 |
| 22 | WDAY | Workday Inc-class A | -0.1% | -21.82% | 减仓 |
| 23 | ABT | Abbott Laboratories | -0.1% | -1.45% | 减仓 |
| 24 | VRSK | Verisk Analytics Inc | -0.1% | -18.04% | 减仓 |
| 25 | EXP | Eagle Materials Inc | -0.1% | -0.96% | 减仓 |
| 26 | ETN | Eaton Corporation plc | -0.1% | +0.73% | 加仓 |
| 27 | CNI | Canadian Natl Railway Co | -0.2% | -25.11% | 减仓 |
| 28 | SYK | Stryker CORP | -0.2% | -1.47% | 减仓 |
| 29 | URI | United Rentals Inc | -0.2% | -0.14% | 减仓 |
| 30 | UNH | Unitedhealth Group Inc | -0.2% | -4.43% | 减仓 |
| 31 | CTAS | Cintas CORP | -0.2% | -27.29% | 减仓 |
| 32 | T | At&t Inc | -0.2% | -24.05% | 减仓 |
| 33 | ADBE | Adobe Inc | -0.2% | -22.19% | 减仓 |
| 34 | PG | Procter & Gamble Co/the | -0.2% | -5.85% | 减仓 |
| 35 | PAYC | Paycom Software Inc | -0.2% | -64.94% | 减仓 |
| 36 | ENTG | Entegris Inc | -0.3% | -90.81% | 减仓 |
| 37 | PFE | Pfizer Inc | -0.3% | -12.06% | 减仓 |
| 38 | MSFT | Microsoft CORP | -0.5% | -0.00% | 减仓 |
| 39 | META | Meta Platforms Inc-class A | -0.8% | -0.23% | 减仓 |
| 40 | INTU | Intuit Inc | — | NEW | 新建仓 |
| 41 | PRI | Primerica Inc | — | NEW | 新建仓 |
| 42 | MSCI | Msci Inc | — | NEW | 新建仓 |
| 43 | CLX | Clorox Company | — | NEW | 新建仓 |
| 44 | ZTS | Zoetis Inc | — | EXIT | 清仓 |
| 45 | FSLR | First Solar Inc | — | NEW | 新建仓 |
| 46 | MELI | Mercadolibre Inc | — | NEW | 新建仓 |
| 47 | XYL | Xylem Inc | — | NEW | 新建仓 |
| 48 | D | Dominion Energy Inc | — | NEW | 新建仓 |
| 49 | GPN | Global Payments Inc | — | EXIT | 清仓 |
| 50 | DVA | Davita Inc | — | NEW | 新建仓 |
根据 SEC 官方 Form 13F 申报备案，Callahan Advisors, LLC 在 Q4 2025 季度的美股持仓总市值约为 US$13.3亿，共申报了 174 个公开持股仓位。
在 Q4 2025 季度，Callahan Advisors, LLC 按市值排列的前三大核心持股分别为：GOOG (6.8%)、META (5.5%)、MSFT (5.0%)。其中最大持股仓位 GOOG 占据整体投资组合约 6.8% 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
INTU
市值: US$670.4万
本季最大获利了结 / 清仓标的
ZTS
前期市值: US$273.7万
在 Q4 2025 季度中，Callahan Advisors, LLC 共进行了 50 项持仓异动，包含新建仓 9 个仓位、加仓 12 个仓位、减仓 27 个仓位以及清仓 2 个仓位。 其中最大新建仓标的为 INTU。 本季清仓仓位包含 ZTS。
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。