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: 0000944733
申报总市值
US$2.5亿
US$2.5亿
44 檔
35.3%
在 Q2 2025 申报期间，Hutner Capital Management Inc（CIK: 0000944733）向美国 SEC 提交的 Form 13F 报告显示，其追踪之股票投资组合总市值达 US$2.5亿，共持有 44 个公开申报仓位。
在 Q2 2025，Hutner Capital Management Inc 展现出较为审慎的避险与获利了结姿态。本季共减仓 24 个仓位并完全清仓 4 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，Hutner Capital Management Inc 的前 5 大核心持股（包含 BRK-A, BRK-B, COST 等）合计占整体申报市值的 35.3%，反映机构在主要关键仓位上的权重分布。
本季最大获利了结 / 清仓标的
KHC
前期市值: US$42.1万
| # | 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 | BRK-A | Berkshire Hathaway Inc-cl A | 股票-其他 | 13.92% | +0.08% | -17.65% | |
| 2 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 9.13% | -0.46% | +8.78% | |
| 3 | COST | Costco Wholesale CORP | 股票-非周期性消费 | 6.41% | -0.51% | -8.34% | |
| 4 | PM | Philip Morris International | 股票-非周期性消费 | 6.10% | +0.25% | -6.21% | |
| 5 | KO | Coca-cola Co/the | 股票-非周期性消费 | 4.92% | +0.16% | +1.52% | |
| 6 | MCD | Mcdonald's CORP | 股票-周期性消费 | 4.57% | -0.70% | -0.09% | |
| 7 | PG | Procter & Gamble Co/the | 股票-非周期性消费 | 3.86% | -0.08% | -1.29% | |
| 8 | ABBV | Abbvie Inc | 股票-医疗保健 | 3.54% | +0.42% | -2.63% | |
| 9 | FNV | Franco-nevada CORP | 股票-原材料 | 3.35% | -0.79% | -5.95% | |
| 10 | PEP | Pepsico Inc | 股票-非周期性消费 | 3.30% | -0.58% | +0.79% | |
| 11 | GOOG | Alphabet Inc-cl C | 股票-通信服务 | 3.13% | +1.05% | -6.86% | |
| 12 | ENB | Enbridge Inc | 股票-能源 | 3.04% | -0.09% | +6.02% | |
| 13 | AXP | American Express Co | 股票-金融 | 3.00% | +0.24% | -7.40% | |
| 14 | JNJ | Johnson & Johnson | 股票-医疗保健 | 2.96% | +0.01% | -10.62% | |
| 15 | MO | Altria Group Inc | 股票-非周期性消费 | 2.96% | +0.16% | +3.90% | |
| 16 | WMT | Walmart Inc | 股票-非周期性消费 | 2.66% | -0.37% | -5.34% | |
| 17 | ABT | Abbott Laboratories | 股票-医疗保健 | 2.57% | -0.28% | +0.55% | |
| 18 | EPD | Enterprise Products Partners | 股票-能源 | 1.93% | -0.11% | +10.63% | |
| 19 | AAPL | Apple Inc | 股票-科技 | 1.88% | +0.26% | +14.67% | |
| 20 | VRSK | Verisk Analytics Inc | 股票-工业 | 1.59% | +0.34% | -15.28% | |
| 21 | ✓ | 股票-其他 | 1.29% | — | +23.58% | ||
| 22 | UNP | Union Pacific CORP | 股票-工业 | 1.25% | +0.16% | -10.27% | |
| 23 | GPC | Genuine Parts Co | 股票-周期性消费 | 1.25% | +0.08% | +0.08% | |
| 24 | O | Realty Income CORP | 股票-房地产 | 1.18% | — | +1.00% | |
| 25 | ORLY | O'reilly Automotive Inc | 股票-周期性消费 | 1.17% | -0.04% | +1288.69% | |
| 26 | ADI | Analog Devices Inc | 股票-科技 | 1.14% | +0.32% | -15.63% | |
| 27 | NSC | Norfolk Southern CORP | 股票-工业 | 0.86% | +0.05% | -1.61% | |
| 28 | DEO | Diageo Plc-sponsored Adr | 股票-非周期性消费 | 0.77% | — | -5.35% | |
| 29 | OKE | Oneok Inc | 股票-能源 | 0.74% | -0.02% | -1.89% | |
| 30 | V | Visa Inc-class A Shares | 股票-金融 | 0.70% | +0.22% | +63.92% | |
| 31 | PGR | Progressive CORP | 股票-金融 | 0.65% | +0.04% | +53.54% | |
| 32 | HSY | Hershey Co/the | 股票-非周期性消费 | 0.57% | -0.14% | -6.58% | |
| 33 | WFC | Wells Fargo & Co | 股票-金融 | 0.55% | — | +0.01% | |
| 34 | QSR | Restaurant Brands Intern | 股票-周期性消费 | 0.48% | +0.13% | -26.34% | |
| 35 | YUM | Yum! Brands Inc | 股票-周期性消费 | 0.43% | +0.02% | +23.78% | |
| 36 | SHW | Sherwin-williams Co/the | 股票-原材料 | 0.42% | +0.02% | +11.91% | |
| 37 | EXPD | Expeditors Intl Wash Inc | 股票-工业 | 0.34% | +0.04% | -10.68% | |
| 38 | NVS | Novartis Ag-sponsored Adr | 股票-医疗保健 | 0.32% | — | +0.40% | |
| 39 | WEC | Wec Energy Group Inc | 股票-公用事业 | 0.26% | — | — | |
| 40 | MCO | Moody's CORP | 股票-金融 | 0.22% | — | — | |
| 41 | UPS | United Parcel Service-cl B | 股票-工业 | 0.20% | — | -3.27% | |
| 42 | AMT | American Tower CORP | 股票-房地产 | 0.15% | -0.09% | EXIT | |
| 43 | ✓ | 股票-其他 | 0.14% | — | -6.52% | ||
| 44 | MDLZ | Mondelez International Inc-a | 股票-非周期性消费 | 0.10% | — | -6.83% |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | PM | Philip Morris International | +0.8% | -6.21% | 减仓 |
| 2 | BRK-B | Berkshire Hathaway Inc-cl B | +0.5% | +8.78% | 加仓 |
| 3 | AXP | American Express Co | +0.4% | -7.40% | 减仓 |
| 4 | ENB | Enbridge Inc | +0.4% | +6.02% | 加仓 |
| 5 | GOOG | Alphabet Inc-cl C | +0.4% | -6.86% | 减仓 |
| 6 | KO | Coca-cola Co/the | +0.3% | +1.52% | 加仓 |
| 7 | V | Visa Inc-class A Shares | +0.3% | +63.92% | 加仓 |
| 8 | WMT | Walmart Inc | +0.3% | -5.34% | 减仓 |
| 9 | CB | Chubb Limited | +0.3% | — | 加仓 |
| 10 | PGR | Progressive CORP | +0.2% | +53.54% | 加仓 |
| 11 | ABT | Abbott Laboratories | +0.2% | +0.55% | 加仓 |
| 12 | MO | Altria Group Inc | +0.2% | +3.90% | 加仓 |
| 13 | AAPL | Apple Inc | +0.2% | +14.67% | 加仓 |
| 14 | COST | Costco Wholesale CORP | +0.1% | -8.34% | 减仓 |
| 15 | FNV | Franco-nevada CORP | +0.1% | -5.95% | 减仓 |
| 16 | EPD | Enterprise Products Partners | +0.1% | +10.63% | 加仓 |
| 17 | NSC | Norfolk Southern CORP | +0.1% | -1.61% | 减仓 |
| 18 | GPC | Genuine Parts Co | +0.1% | +0.08% | 加仓 |
| 19 | YUM | Yum! Brands Inc | +0.1% | +23.78% | 加仓 |
| 20 | WFC | Wells Fargo & Co | +0.1% | +0.01% | 加仓 |
| 21 | O | Realty Income CORP | +0.1% | +1.00% | 加仓 |
| 22 | SHW | Sherwin-williams Co/the | +0.1% | +11.91% | 加仓 |
| 23 | ADI | Analog Devices Inc | +0.1% | -15.63% | 减仓 |
| 24 | NVS | Novartis Ag-sponsored Adr | +0.1% | +0.40% | 加仓 |
| 25 | MCO | Moody's CORP | 0% | — | 不变 |
| 26 | WEC | Wec Energy Group Inc | 0% | — | 不变 |
| 27 | AMT | American Tower CORP | 0% | -0.52% | 减仓 |
| 28 | MCD | Mcdonald's CORP | 0% | -0.09% | 减仓 |
| 29 | UPS | United Parcel Service-cl B | 0% | -3.27% | 减仓 |
| 30 | ZTS | Zoetis Inc | 0% | — | 减仓 |
| 31 | MDLZ | Mondelez International Inc-a | 0% | -6.83% | 减仓 |
| 32 | DEO | Diageo Plc-sponsored Adr | 0% | -5.35% | 减仓 |
| 33 | HSY | Hershey Co/the | 0% | -6.58% | 减仓 |
| 34 | EXPD | Expeditors Intl Wash Inc | 0% | -10.68% | 减仓 |
| 35 | PG | Procter & Gamble Co/the | -0.1% | -1.29% | 减仓 |
| 36 | VRSK | Verisk Analytics Inc | -0.1% | -15.28% | 减仓 |
| 37 | UNP | Union Pacific CORP | -0.1% | -10.27% | 减仓 |
| 38 | ORLY | O'reilly Automotive Inc | -0.1% | +1288.69% | 加仓 |
| 39 | UNH | Unitedhealth Group Inc | -0.1% | EXIT | 清仓 |
| 40 | VZ | Verizon Communications Inc | -0.1% | EXIT | 清仓 |
| 41 | OKE | Oneok Inc | -0.1% | -1.89% | 减仓 |
| 42 | QSR | Restaurant Brands Intern | -0.1% | -26.34% | 减仓 |
| 43 | KHC | Kraft Heinz Co/the | -0.2% | EXIT | 清仓 |
| 44 | CVX | Chevron CORP | -0.2% | EXIT | 清仓 |
| 45 | PEP | Pepsico Inc | -0.2% | +0.79% | 加仓 |
| 46 | ABBV | Abbvie Inc | -0.3% | -2.63% | 减仓 |
| 47 | JNJ | Johnson & Johnson | -0.4% | -10.62% | 减仓 |
| 48 | BRK-A | Berkshire Hathaway Inc-cl A | -3.5% | -17.65% | 减仓 |
根据 SEC 官方 Form 13F 申报备案，Hutner Capital Management Inc 在 Q2 2025 季度的美股持仓总市值约为 US$2.5亿，共申报了 44 个公开持股仓位。
在 Q2 2025 季度，Hutner Capital Management Inc 按市值排列的前三大核心持股分别为：BRK-A (13.9%)、BRK-B (9.1%)、COST (6.4%)。其中最大持股仓位 BRK-A 占据整体投资组合约 13.9% 的权重。
在 Q2 2025 季度中，Hutner Capital Management Inc 共进行了 46 项持仓异动，包含新建仓 0 个仓位、加仓 18 个仓位、减仓 24 个仓位以及清仓 4 个仓位。 本季清仓仓位包含 KHC。
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。
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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。
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。