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: 0001089707
申报总市值
US$1.5亿
US$1.5亿
83 檔
29.3%
在 Q4 2025 的 13F 官方备案中，Lederer & Associates Investment Counsel/ca 管理的美股投资组合规模来到 US$1.5亿，整体持股档数为 83 档。
在 Q4 2025，Lederer & Associates Investment Counsel/ca 展现出较为审慎的避险与获利了结姿态。本季共减仓 34 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，Lederer & Associates Investment Counsel/ca 的前 5 大核心持股（包含 AAPL, MSFT, NVDA 等）合计占整体申报市值的 29.3%，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 | AAPL | Apple Inc | 股票-科技 | 8.84% | +0.04% | -6.58% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 7.32% | -0.33% | -4.84% | |
| 3 | NVDA | Nvidia CORP | 股票-科技 | 5.85% | +0.37% | -8.64% | |
| 4 | GOOGL | Alphabet Inc-cl A | 股票-通信服务 | 4.47% | +0.52% | -9.31% | |
| 5 | AMZN | Amazon.com Inc | 股票-周期性消费 | 3.36% | +0.19% | -7.65% | |
| 6 | AVGO | Broadcom Inc | 股票-科技 | 2.67% | +0.27% | -1.27% | |
| 7 | META | Meta Platforms Inc-class A | 股票-通信服务 | 2.67% | -0.10% | -6.82% | |
| 8 | V | Visa Inc-class A Shares | 股票-金融 | 2.25% | +0.11% | -8.86% | |
| 9 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 2.00% | -0.05% | -3.89% | |
| 10 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.96% | +0.03% | +0.44% | |
| 11 | BLK | Blackrock Inc | 股票-金融 | 1.92% | -0.16% | +0.94% | |
| 12 | JNJ | Johnson & Johnson | 股票-医疗保健 | 1.84% | -0.10% | -0.21% | |
| 13 | ADP | Automatic Data Processing | 股票-科技 | 1.80% | +0.18% | -5.64% | |
| 14 | ABBV | Abbvie Inc | 股票-医疗保健 | 1.65% | +0.08% | -1.93% | |
| 15 | GLD | Spdr Gold Shares | ETF-避险与商品 | 1.63% | -0.41% | -10.89% | |
| 16 | CB | Chubb Limited | 股票-金融 | 1.57% | -0.08% | +1.19% | |
| 17 | NEE | Nextera Energy Inc | 股票-公用事业 | 1.49% | -0.24% | +9.06% | |
| 18 | SPGI | S&p Global Inc | 股票-金融 | 1.47% | -0.14% | +5.66% | |
| 19 | AMGN | Amgen Inc | 股票-医疗保健 | 1.46% | -0.21% | -0.64% | |
| 20 | WM | Waste Management Inc | 股票-工业 | 1.36% | -0.17% | +9.13% | |
| 21 | SCHV | Schwab US Large-cap Value | ETF-其他 | 1.33% | -0.09% | -0.07% | |
| 22 | LIN | Linde plc | 股票-原材料 | 1.24% | -0.07% | +5.63% | |
| 23 | MLM | Martin Marietta Materials | 股票-原材料 | 1.23% | -0.11% | -9.78% | |
| 24 | XOM | Exxon Mobil CORP | 股票-能源 | 1.23% | -1.82% | EXIT | |
| 25 | COST | Costco Wholesale CORP | 股票-非周期性消费 | 1.23% | -0.19% | -5.65% | |
| 26 | CSCO | Cisco Systems Inc | 股票-科技 | 1.21% | +0.56% | -1.97% | |
| 27 | UNP | Union Pacific CORP | 股票-工业 | 1.21% | +0.03% | -0.12% | |
| 28 | SYK | Stryker CORP | 股票-医疗保健 | 1.17% | -0.03% | -9.59% | |
| 29 | GLW | Corning Inc | 股票-科技 | 1.10% | -0.13% | -0.98% | |
| 30 | NFLX | Netflix Inc | 股票-通信服务 | 1.08% | -0.40% | +858.15% | |
| 31 | DAL | Delta Air Lines Inc | 股票-工业 | 1.06% | -1.07% | EXIT | |
| 32 | SCHP | Schwab U.s. Tips ETF | ETF-其他 | 1.02% | -0.08% | — | |
| 33 | BA | Boeing Co/the | 股票-工业 | 0.98% | -0.02% | -2.60% | |
| 34 | SCHG | Schwab US Large-cap Growth | ETF-其他 | 0.96% | +0.18% | -0.58% | |
| 35 | UBER | Uber Technologies Inc | 股票-工业 | 0.94% | +0.06% | -1.56% | |
| 36 | MDT | Medtronic plc | 股票-医疗保健 | 0.90% | -0.16% | -2.54% | |
| 37 | CME | Cme Group Inc | 股票-金融 | 0.89% | -0.21% | -2.12% | |
| 38 | BX | Blackstone Inc | 股票-金融 | 0.84% | -0.03% | -13.50% | |
| 39 | ABNB | Airbnb Inc-class A | 股票-周期性消费 | 0.84% | +0.04% | — | |
| 40 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.81% | +0.08% | -7.75% | |
| 41 | AWK | American Water Works Co Inc | 股票-公用事业 | 0.79% | -0.11% | -12.45% | |
| 42 | HD | Home Depot Inc | 股票-周期性消费 | 0.79% | +0.06% | +17.61% | |
| 43 | FICO | Fair Isaac CORP | 股票-科技 | 0.79% | +0.02% | -11.17% | |
| 44 | FLUT | Flutter Entertainment plc | 股票-周期性消费 | 0.77% | — | -6.64% | |
| 45 | CRWD | Crowdstrike Holdings Inc - A | 股票-科技 | 0.74% | +0.33% | -12.86% | |
| 46 | ITW | Illinois Tool Works | 股票-工业 | 0.74% | -0.05% | -1.50% | |
| 47 | SBUX | Starbucks CORP | 股票-周期性消费 | 0.73% | +0.02% | -3.04% | |
| 48 | MRK | Merck & Co. Inc. | 股票-医疗保健 | 0.68% | — | -0.71% | |
| 49 | PG | Procter & Gamble Co/the | 股票-非周期性消费 | 0.68% | -0.06% | +115.16% | |
| 50 | SYY | Sysco CORP | 股票-非周期性消费 | 0.67% | +0.04% | -1.94% |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +0.8% | -9.31% | 减仓 |
| 2 | PG | Procter & Gamble Co/the | +0.4% | +115.16% | 加仓 |
| 3 | REZ | Ishars Res And Multi Reales | +0.3% | +190.74% | 加仓 |
| 4 | NEE | Nextera Energy Inc | +0.3% | +9.06% | 加仓 |
| 5 | AMGN | Amgen Inc | +0.2% | -0.64% | 减仓 |
| 6 | JNJ | Johnson & Johnson | +0.2% | -0.21% | 减仓 |
| 7 | SPGI | S&p Global Inc | +0.2% | +5.66% | 加仓 |
| 8 | CB | Chubb Limited | +0.2% | +1.19% | 加仓 |
| 9 | AVGO | Broadcom Inc | +0.2% | -1.27% | 减仓 |
| 10 | MRK | Merck & Co. Inc. | +0.2% | -0.71% | 减仓 |
| 11 | CSCO | Cisco Systems Inc | +0.2% | -1.97% | 减仓 |
| 12 | WM | Waste Management Inc | +0.2% | +9.13% | 加仓 |
| 13 | DAL | Delta Air Lines Inc | +0.1% | -9.35% | 减仓 |
| 14 | GOOG | Alphabet Inc-cl C | +0.1% | -6.28% | 减仓 |
| 15 | XOM | Exxon Mobil CORP | +0.1% | -1.57% | 减仓 |
| 16 | CPAY | Corpay Inc | +0.1% | +10.47% | 加仓 |
| 17 | GLW | Corning Inc | +0.1% | -0.98% | 减仓 |
| 18 | CTSH | Cognizant Tech Solutions-a | +0.1% | -10.52% | 减仓 |
| 19 | AMZN | Amazon.com Inc | 0% | -7.65% | 减仓 |
| 20 | ABBV | Abbvie Inc | — | -1.93% | 减仓 |
| 21 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | -3.89% | 减仓 |
| 22 | LIN | Linde plc | 0% | +5.63% | 加仓 |
| 23 | ITW | Illinois Tool Works | 0% | -1.50% | 减仓 |
| 24 | AMT | American Tower CORP | 0% | -2.16% | 减仓 |
| 25 | V | Visa Inc-class A Shares | -0.1% | -8.86% | 减仓 |
| 26 | SYY | Sysco CORP | -0.1% | -1.94% | 减仓 |
| 27 | BLK | Blackrock Inc | -0.1% | +0.94% | 加仓 |
| 28 | SCHZ | Schwab US Aggregate Bond ETF | -0.1% | -24.94% | 减仓 |
| 29 | PYPL | Paypal Holdings Inc | -0.1% | -6.15% | 减仓 |
| 30 | MLM | Martin Marietta Materials | -0.1% | -9.78% | 减仓 |
| 31 | COST | Costco Wholesale CORP | -0.1% | -5.65% | 减仓 |
| 32 | CRWD | Crowdstrike Holdings Inc - A | -0.1% | -12.86% | 减仓 |
| 33 | SYK | Stryker CORP | -0.2% | -9.59% | 减仓 |
| 34 | AWK | American Water Works Co Inc | -0.2% | -12.45% | 减仓 |
| 35 | UBER | Uber Technologies Inc | -0.2% | -1.56% | 减仓 |
| 36 | FLUT | Flutter Entertainment plc | -0.2% | -6.64% | 减仓 |
| 37 | BX | Blackstone Inc | -0.2% | -13.50% | 减仓 |
| 38 | ADP | Automatic Data Processing | -0.3% | -5.64% | 减仓 |
| 39 | NFLX | Netflix Inc | -0.3% | +858.15% | 加仓 |
| 40 | NVDA | Nvidia CORP | -0.3% | -8.64% | 减仓 |
| 41 | META | Meta Platforms Inc-class A | -0.4% | -6.82% | 减仓 |
| 42 | FISV | Fiserv Inc | -0.5% | -12.86% | 减仓 |
| 43 | SCHH | Schwab US Reit ETF | -0.5% | -65.41% | 减仓 |
| 44 | MSFT | Microsoft CORP | -0.7% | -4.84% | 减仓 |
| 45 | ABNB | Airbnb Inc-class A | — | NEW | 新建仓 |
| 46 | BMY | Bristol-myers Squibb Co | — | EXIT | 清仓 |
| 47 | OTIS | Otis Worldwide CORP | — | NEW | 新建仓 |
| 48 | KMB | Kimberly-clark CORP | — | EXIT | 清仓 |
| 49 | CCI | Crown Castle Inc | — | EXIT | 清仓 |
| 50 | SCHO | Schwab Short-term US Treas | — | EXIT | 清仓 |
根据 SEC 官方 Form 13F 申报备案，Lederer & Associates Investment Counsel/ca 在 Q4 2025 季度的美股持仓总市值约为 US$1.5亿，共申报了 83 个公开持股仓位。
在 Q4 2025 季度，Lederer & Associates Investment Counsel/ca 按市值排列的前三大核心持股分别为：AAPL (8.8%)、MSFT (7.3%)、NVDA (5.8%)。其中最大持股仓位 AAPL 占据整体投资组合约 8.8% 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
ABNB
市值: US$124.4万
本季最大获利了结 / 清仓标的
BMY
前期市值: US$89.2万
在 Q4 2025 季度中，Lederer & Associates Investment Counsel/ca 共进行了 50 项持仓异动，包含新建仓 2 个仓位、加仓 10 个仓位、减仓 34 个仓位以及清仓 4 个仓位。 其中最大新建仓标的为 ABNB。 本季清仓仓位包含 BMY。
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。