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。
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CIK: 0001398739
申报总市值
US$125.9亿
US$125.9亿
496 檔
29.9%
根据最新整理的 13F 季度数据集，Employees Retirement System of Texas 于 Q4 2025 结束时的管理资产规模为 US$125.9亿。该机构在本季度申报了 496 档美股持仓，呈现出该时期的主要投资地图。
在 Q4 2025，Employees Retirement System of Texas 展现出较为审慎的避险与获利了结姿态。本季共减仓 103 个仓位并完全清仓 18 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，Employees Retirement System of Texas 的前 5 大核心持股（包含 VGIT, MSFT, NVDA 等）合计占整体申报市值的 29.9%，反映机构在主要关键仓位上的权重分布。
仅显示前 200 大持股（共 496 只）
| # | 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 | VGIT | Vanguard Intermediate-term T | ETF-其他 | 10.84% | -1.22% | -6.97% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 5.62% | -0.63% | +11.22% | |
| 3 | NVDA | Nvidia CORP | 股票-科技 | 5.56% | -0.19% | -1.68% | |
| 4 | AAPL | Apple Inc | 股票-科技 | 5.02% | +0.33% | -7.01% | |
| 5 | AMZN | Amazon.com Inc | 股票-周期性消费 | 3.64% | +0.13% | +5.82% | |
| 6 | HYLB | Xtrackers Usd High Yield Cor | ETF-非投资级债 | 3.41% | -0.30% | -10.68% | |
| 7 | GOOG | Alphabet Inc-cl C | 股票-通信服务 | 2.97% | +0.81% | -5.62% | |
| 8 | AVGO | Broadcom Inc | 股票-科技 | 2.38% | +0.08% | +9.03% | |
| 9 | META | Meta Platforms Inc-class A | 股票-通信服务 | 2.09% | -0.01% | -9.61% | |
| 10 | VOO | Vanguard S&p 500 ETF | ETF-大型股与成长 | 2.06% | — | — | |
| 11 | MA | Mastercard Inc - A | 股票-金融 | 1.78% | +0.13% | -1.54% | |
| 12 | LLY | Eli Lilly & Co | 股票-医疗保健 | 1.59% | -0.03% | -1.73% | |
| 13 | TSLA | Tesla Inc | 股票-周期性消费 | 1.46% | +0.01% | -1.70% | |
| 14 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.42% | -0.01% | -1.76% | |
| 15 | GOOGL | Alphabet Inc-cl A | 股票-通信服务 | 1.27% | +0.19% | +8.67% | |
| 16 | XOM | Exxon Mobil CORP | 股票-能源 | 1.22% | -0.49% | +3.99% | |
| 17 | NEM | Newmont CORP | 股票-原材料 | 1.12% | -0.30% | +22.65% | |
| 18 | BAC | Bank Of America CORP | 股票-金融 | 1.11% | +0.13% | -3.65% | |
| 19 | WMT | Walmart Inc | 股票-非周期性消费 | 1.02% | -0.34% | -1.76% | |
| 20 | PANW | Palo Alto Networks Inc | 股票-科技 | 0.99% | +0.79% | +23.88% | |
| 21 | PH | Parker Hannifin CORP | 股票-工业 | 0.95% | -0.25% | -1.70% | |
| 22 | KO | Coca-cola Co/the | 股票-非周期性消费 | 0.93% | -0.16% | +0.82% | |
| 23 | VEA | Vanguard Ftse Developed ETF | ETF-其他 | 0.91% | +0.01% | -73.11% | |
| 24 | COST | Costco Wholesale CORP | 股票-非周期性消费 | 0.89% | -0.27% | +29.05% | |
| 25 | FCX | Freeport-mcmoran Inc | 股票-原材料 | 0.85% | +0.02% | +28.86% | |
| 26 | XLI | Ss Industrial Select Sector | ETF-其他 | 0.84% | -0.31% | EXIT | |
| 27 | TMO | Thermo Fisher Scientific Inc | 股票-医疗保健 | 0.83% | -0.06% | +26.68% | |
| 28 | UNH | Unitedhealth Group Inc | 股票-医疗保健 | 0.81% | +0.82% | +5.06% | |
| 29 | HD | Home Depot Inc | 股票-周期性消费 | 0.77% | -0.20% | -1.53% | |
| 30 | DHR | Danaher CORP | 股票-医疗保健 | 0.77% | -0.61% | +30.43% | |
| 31 | MSI | Motorola Solutions Inc | 股票-科技 | 0.74% | -0.27% | +32.23% | |
| 32 | CDNS | Cadence Design Sys Inc | 股票-科技 | 0.73% | +0.02% | +12.36% | |
| 33 | SCHW | Schwab (charles) CORP | 股票-金融 | 0.72% | -0.10% | -2.97% | |
| 34 | TJX | Tjx Companies Inc | 股票-周期性消费 | 0.72% | -0.11% | -1.56% | |
| 35 | XBI | Ss Spdr S&p Biotech ETF | ETF-科技型 | 0.72% | +0.08% | -1.76% | |
| 36 | ANET | Arista Networks Inc | 股票-科技 | 0.71% | +0.16% | +12.80% | |
| 37 | MS | Morgan Stanley | 股票-金融 | 0.70% | +0.18% | +15.60% | |
| 38 | AMD | Advanced Micro Devices | 股票-科技 | 0.68% | +1.02% | — | |
| 39 | MDT | Medtronic plc | 股票-医疗保健 | 0.67% | -0.11% | -3.20% | |
| 40 | MELI | Mercadolibre Inc | 股票-周期性消费 | 0.66% | — | +18.24% | |
| 41 | FITB | Fifth Third Bancorp | 股票-金融 | 0.65% | +0.06% | -1.76% | |
| 42 | NOW | Servicenow Inc | 股票-科技 | 0.63% | -0.08% | +429.21% | |
| 43 | ICE | Intercontinental Exchange In | 股票-金融 | 0.62% | -0.19% | -11.35% | |
| 44 | ALLY | Ally Financial Inc | 股票-金融 | 0.61% | +0.03% | -1.76% | |
| 45 | AXP | American Express Co | 股票-金融 | 0.58% | +0.06% | -1.73% | |
| 46 | WEC | Wec Energy Group Inc | 股票-公用事业 | 0.57% | -0.06% | -1.76% | |
| 47 | SYK | Stryker CORP | 股票-医疗保健 | 0.56% | -0.08% | -1.60% | |
| 48 | HIG | Hartford Insurance Group Inc | 股票-金融 | 0.56% | -0.07% | -1.64% | |
| 49 | VTR | Ventas Inc | 股票-房地产 | 0.55% | -0.13% | -0.23% | |
| 50 | AZO | Autozone Inc | 股票-周期性消费 | 0.55% | +0.03% | -1.49% |
| # | 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 | +0.6% | -5.62% | 减仓 |
| 2 | LLY | Eli Lilly & Co | +0.5% | -1.73% | 减仓 |
| 3 | SPOT | Spotify Technology S.A. | +0.5% | +2885.97% | 加仓 |
| 4 | AMZN | Amazon.com Inc | +0.4% | +5.82% | 加仓 |
| 5 | GOOGL | Alphabet Inc-cl A | +0.4% | +8.67% | 加仓 |
| 6 | NEM | Newmont CORP | +0.4% | +22.65% | 加仓 |
| 7 | TT | Trane Technologies plc | +0.4% | +6223.64% | 加仓 |
| 8 | FCX | Freeport-mcmoran Inc | +0.4% | +28.86% | 加仓 |
| 9 | AVGO | Broadcom Inc | +0.3% | +9.03% | 加仓 |
| 10 | FAST | Fastenal Co | +0.3% | +780.19% | 加仓 |
| 11 | TOST | Toast Inc-class A | +0.3% | +23078.20% | 加仓 |
| 12 | ISRG | Intuitive Surgical Inc | +0.3% | +558.90% | 加仓 |
| 13 | MSFT | Microsoft CORP | +0.3% | +11.22% | 加仓 |
| 14 | WSO | Watsco Inc | +0.3% | +1869.24% | 加仓 |
| 15 | TMO | Thermo Fisher Scientific Inc | +0.3% | +26.68% | 加仓 |
| 16 | DHR | Danaher CORP | +0.3% | +30.43% | 加仓 |
| 17 | MS | Morgan Stanley | +0.2% | +15.60% | 加仓 |
| 18 | COST | Costco Wholesale CORP | +0.2% | +29.05% | 加仓 |
| 19 | XOM | Exxon Mobil CORP | +0.1% | +3.99% | 加仓 |
| 20 | ASML | ASML Holding N.V. | +0.1% | +28978.00% | 加仓 |
| 21 | XBI | Ss Spdr S&p Biotech ETF | +0.1% | -1.76% | 减仓 |
| 22 | PH | Parker Hannifin CORP | +0.1% | -1.70% | 减仓 |
| 23 | PANW | Palo Alto Networks Inc | +0.1% | +23.88% | 加仓 |
| 24 | BSX | Boston Scientific CORP | +0.1% | +23.93% | 加仓 |
| 25 | MSI | Motorola Solutions Inc | +0.1% | +32.23% | 加仓 |
| 26 | TEL | TE Connectivity plc | +0.1% | +1410.82% | 加仓 |
| 27 | LPLA | Lpl Financial Holdings Inc | +0.1% | +9.10% | 加仓 |
| 28 | ALLY | Ally Financial Inc | +0.1% | -1.76% | 减仓 |
| 29 | WMT | Walmart Inc | +0.1% | -1.76% | 减仓 |
| 30 | MNST | Monster Beverage CORP | +0.1% | -1.65% | 减仓 |
| 31 | KO | Coca-cola Co/the | +0.1% | +0.82% | 加仓 |
| 32 | VTR | Ventas Inc | +0.1% | -0.23% | 减仓 |
| 33 | AXP | American Express Co | +0.1% | -1.73% | 减仓 |
| 34 | XLI | Ss Industrial Select Sector | +0.1% | +5.04% | 加仓 |
| 35 | AAPL | Apple Inc | +0.1% | -7.01% | 减仓 |
| 36 | PLD | Prologis Inc | +0.1% | -1.74% | 减仓 |
| 37 | BAC | Bank Of America CORP | +0.1% | -3.65% | 减仓 |
| 38 | WPM | Wheaton Precious Metals CORP | 0% | +94.47% | 加仓 |
| 39 | SNDK | Sandisk CORP | 0% | — | 不变 |
| 40 | FET | Forum Energy Technologies In | 0% | — | 不变 |
| 41 | CRM | Salesforce Inc | 0% | +32.35% | 加仓 |
| 42 | PLTR | Palantir Technologies Inc-a | 0% | +4600.00% | 加仓 |
| 43 | TJX | Tjx Companies Inc | 0% | -1.56% | 减仓 |
| 44 | SLB | Slb LTD | 0% | -1.76% | 减仓 |
| 45 | ODFL | Old Dominion Freight Line | 0% | -1.59% | 减仓 |
| 46 | CX | Cemex Sab-spons Adr Part Cer | 0% | +130.04% | 加仓 |
| 47 | LVS | Las Vegas Sands CORP | 0% | +7.43% | 加仓 |
| 48 | UPS | United Parcel Service-cl B | 0% | +75.18% | 加仓 |
| 49 | LRCX | Lam Research CORP | 0% | — | 不变 |
| 50 | FITB | Fifth Third Bancorp | 0% | -1.76% | 减仓 |
根据 SEC 官方 Form 13F 申报备案，Employees Retirement System of Texas 在 Q4 2025 季度的美股持仓总市值约为 US$125.9亿，共申报了 496 个公开持股仓位。
在 Q4 2025 季度，Employees Retirement System of Texas 按市值排列的前三大核心持股分别为：VGIT (10.8%)、MSFT (5.6%)、NVDA (5.6%)。其中最大持股仓位 VGIT 占据整体投资组合约 10.8% 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
VOO
市值: US$2.5亿
本季最大获利了结 / 清仓标的
MNDY
前期市值: US$7396.1万
在 Q4 2025 季度中，Employees Retirement System of Texas 共进行了 188 项持仓异动，包含新建仓 21 个仓位、加仓 46 个仓位、减仓 103 个仓位以及清仓 18 个仓位。 其中最大新建仓标的为 VOO。 本季清仓仓位包含 MNDY。
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。