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
35.1%
Hutner Capital Management Inc 在 Q4 2025 季度的美股仓位总计估值为 US$2.5亿，分散于 44 个持仓标的之中，反映其市场参与广度与投资规模。
Hutner Capital Management Inc 在 Q4 2025 进行了结构性的板块轮动与仓位换股。在开立 1 个全新仓位及加仓 18 档持股的同时，亦同步清仓 1 档并减仓 20 档标的。
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, GOOG 等）合计占整体申报市值的 35.1%，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 | BRK-A | Berkshire Hathaway Inc-cl A | 股票-其他 | 12.92% | +0.08% | — | |
| 2 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 8.79% | -0.46% | -0.67% | |
| 3 | GOOG | Alphabet Inc-cl C | 股票-通信服务 | 5.19% | +1.05% | -0.11% | |
| 4 | COST | Costco Wholesale CORP | 股票-非周期性消费 | 5.07% | -0.51% | -0.68% | |
| 5 | PM | Philip Morris International | 股票-非周期性消费 | 4.93% | +0.25% | -0.63% | |
| 6 | KO | Coca-cola Co/the | 股票-非周期性消费 | 4.49% | +0.16% | -0.79% | |
| 7 | MCD | Mcdonald's CORP | 股票-周期性消费 | 4.46% | -0.70% | +0.89% | |
| 8 | FNV | Franco-nevada CORP | 股票-原材料 | 4.09% | -0.79% | +1.00% | |
| 9 | ABBV | Abbvie Inc | 股票-医疗保健 | 3.99% | +0.42% | -0.59% | |
| 10 | PEP | Pepsico Inc | 股票-非周期性消费 | 3.91% | -0.58% | +4.39% | |
| 11 | JNJ | Johnson & Johnson | 股票-医疗保健 | 3.91% | +0.01% | +2.38% | |
| 12 | PG | Procter & Gamble Co/the | 股票-非周期性消费 | 3.22% | -0.08% | -0.24% | |
| 13 | ENB | Enbridge Inc | 股票-能源 | 3.19% | -0.09% | +3.31% | |
| 14 | AXP | American Express Co | 股票-金融 | 3.15% | +0.24% | -1.21% | |
| 15 | MO | Altria Group Inc | 股票-非周期性消费 | 2.73% | +0.16% | -0.56% | |
| 16 | WMT | Walmart Inc | 股票-非周期性消费 | 2.71% | -0.37% | -2.76% | |
| 17 | AAPL | Apple Inc | 股票-科技 | 2.51% | +0.26% | -0.14% | |
| 18 | ABT | Abbott Laboratories | 股票-医疗保健 | 2.30% | -0.28% | +1.93% | |
| 19 | EPD | Enterprise Products Partners | 股票-能源 | 1.83% | -0.11% | -0.53% | |
| 20 | ✓ | 股票-其他 | 1.47% | — | +7.71% | ||
| 21 | ADI | Analog Devices Inc | 股票-科技 | 1.33% | +0.32% | +4.11% | |
| 22 | GPC | Genuine Parts Co | 股票-周期性消费 | 1.28% | +0.08% | +0.52% | |
| 23 | O | Realty Income CORP | 股票-房地产 | 1.21% | — | +6.92% | |
| 24 | UNP | Union Pacific CORP | 股票-工业 | 1.19% | +0.16% | -0.41% | |
| 25 | ORLY | O'reilly Automotive Inc | 股票-周期性消费 | 1.12% | -0.04% | +2.82% | |
| 26 | VRSK | Verisk Analytics Inc | 股票-工业 | 1.05% | +0.34% | — | |
| 27 | V | Visa Inc-class A Shares | 股票-金融 | 1.01% | +0.22% | +37.91% | |
| 28 | NSC | Norfolk Southern CORP | 股票-工业 | 0.90% | +0.05% | — | |
| 29 | HSY | Hershey Co/the | 股票-非周期性消费 | 0.71% | -0.14% | +8.99% | |
| 30 | YUM | Yum! Brands Inc | 股票-周期性消费 | 0.62% | +0.02% | +27.24% | |
| 31 | DEO | Diageo Plc-sponsored Adr | 股票-非周期性消费 | 0.60% | — | -0.97% | |
| 32 | WFC | Wells Fargo & Co | 股票-金融 | 0.59% | — | -0.11% | |
| 33 | PGR | Progressive CORP | 股票-金融 | 0.57% | +0.04% | +9.01% | |
| 34 | QSR | Restaurant Brands Intern | 股票-周期性消费 | 0.51% | +0.13% | +12.68% | |
| 35 | SHW | Sherwin-williams Co/the | 股票-原材料 | 0.49% | +0.02% | +15.88% | |
| 36 | EXPD | Expeditors Intl Wash Inc | 股票-工业 | 0.40% | +0.04% | -0.37% | |
| 37 | NVS | Novartis Ag-sponsored Adr | 股票-医疗保健 | 0.39% | — | +6.20% | |
| 38 | WEC | Wec Energy Group Inc | 股票-公用事业 | 0.24% | — | -1.31% | |
| 39 | OKE | Oneok Inc | 股票-能源 | 0.21% | -0.02% | -56.61% | |
| 40 | MCO | Moody's CORP | 股票-金融 | 0.20% | — | — | |
| 41 | UPS | United Parcel Service-cl B | 股票-工业 | 0.18% | — | -1.09% | |
| 42 | ✓ | 股票-其他 | 0.14% | — | — | ||
| 43 | AMT | American Tower CORP | 股票-房地产 | 0.11% | -0.09% | EXIT | |
| 44 | GOOGL | Alphabet Inc-cl A | 股票-通信服务 | 0.10% | +0.02% | — |
| # | 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% | -0.11% | 减仓 |
| 2 | JNJ | Johnson & Johnson | +0.5% | +2.38% | 加仓 |
| 3 | V | Visa Inc-class A Shares | +0.3% | +37.91% | 加仓 |
| 4 | AXP | American Express Co | +0.3% | -1.21% | 减仓 |
| 5 | ✓ | +0.2% | +7.71% | 加仓 | |
| 6 | PEP | Pepsico Inc | +0.2% | +4.39% | 加仓 |
| 7 | ADI | Analog Devices Inc | +0.2% | +4.11% | 加仓 |
| 8 | KO | Coca-cola Co/the | +0.1% | -0.79% | 减仓 |
| 9 | AAPL | Apple Inc | +0.1% | -0.14% | 减仓 |
| 10 | YUM | Yum! Brands Inc | +0.1% | +27.24% | 加仓 |
| 11 | WMT | Walmart Inc | +0.1% | -2.76% | 减仓 |
| 12 | QSR | Restaurant Brands Intern | +0.1% | +12.68% | 加仓 |
| 13 | EXPD | Expeditors Intl Wash Inc | +0.1% | -0.37% | 减仓 |
| 14 | WFC | Wells Fargo & Co | +0.1% | -0.11% | 减仓 |
| 15 | NVS | Novartis Ag-sponsored Adr | 0% | +6.20% | 加仓 |
| 16 | HSY | Hershey Co/the | 0% | +8.99% | 加仓 |
| 17 | SHW | Sherwin-williams Co/the | 0% | +15.88% | 加仓 |
| 18 | UPS | United Parcel Service-cl B | 0% | -1.09% | 减仓 |
| 19 | MCD | Mcdonald's CORP | 0% | +0.89% | 加仓 |
| 20 | EPD | Enterprise Products Partners | 0% | -0.53% | 减仓 |
| 21 | MCO | Moody's CORP | 0% | — | 不变 |
| 22 | AMT | American Tower CORP | 0% | -2.78% | 减仓 |
| 23 | PGR | Progressive CORP | 0% | +9.01% | 加仓 |
| 24 | WEC | Wec Energy Group Inc | 0% | -1.31% | 减仓 |
| 25 | ✓ | 0% | — | 不变 | |
| 26 | O | Realty Income CORP | 0% | +6.92% | 加仓 |
| 27 | UNP | Union Pacific CORP | 0% | -0.41% | 减仓 |
| 28 | NSC | Norfolk Southern CORP | -0.1% | — | 不变 |
| 29 | DEO | Diageo Plc-sponsored Adr | -0.1% | -0.97% | 减仓 |
| 30 | ENB | Enbridge Inc | -0.1% | +3.31% | 加仓 |
| 31 | VRSK | Verisk Analytics Inc | -0.1% | — | 不变 |
| 32 | ABBV | Abbvie Inc | -0.1% | -0.59% | 减仓 |
| 33 | ABT | Abbott Laboratories | -0.2% | +1.93% | 加仓 |
| 34 | PM | Philip Morris International | -0.2% | -0.63% | 减仓 |
| 35 | BRK-A | Berkshire Hathaway Inc-cl A | -0.2% | — | 不变 |
| 36 | ORLY | O'reilly Automotive Inc | -0.2% | +2.82% | 加仓 |
| 37 | GPC | Genuine Parts Co | -0.2% | +0.52% | 加仓 |
| 38 | BRK-B | Berkshire Hathaway Inc-cl B | -0.2% | -0.67% | 减仓 |
| 39 | OKE | Oneok Inc | -0.3% | -56.61% | 减仓 |
| 40 | PG | Procter & Gamble Co/the | -0.3% | -0.24% | 减仓 |
| 41 | FNV | Franco-nevada CORP | -0.3% | +1.00% | 加仓 |
| 42 | MO | Altria Group Inc | -0.5% | -0.56% | 减仓 |
| 43 | COST | Costco Wholesale CORP | -0.5% | -0.68% | 减仓 |
| 44 | GOOGL | Alphabet Inc-cl A | — | NEW | 新建仓 |
| 45 | MDLZ | Mondelez International Inc-a | — | EXIT | 清仓 |
根据 SEC 官方 Form 13F 申报备案，Hutner Capital Management Inc 在 Q4 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 Q4 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 (12.9%)、BRK-B (8.8%)、GOOG (5.2%)。其中最大持股仓位 BRK-A 占据整体投资组合约 12.9% 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
GOOGL
市值: US$24.9万
本季最大获利了结 / 清仓标的
MDLZ
前期市值: US$21.2万
在 Q4 2025 季度中，Hutner Capital Management Inc 共进行了 40 项持仓异动，包含新建仓 1 个仓位、加仓 18 个仓位、减仓 20 个仓位以及清仓 1 个仓位。 其中最大新建仓标的为 GOOGL。 本季清仓仓位包含 MDLZ。
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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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。