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: 0000869367
申报总市值
US$19.1亿
US$19.1亿
84 檔
26.8%
在 Q4 2025 申报期间，Roffman Miller Associates Inc /pa/（CIK: 0000869367）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$19.1亿，共持有 84 个公开申报仓位。
在 Q4 2025，Roffman Miller Associates Inc /pa/ 展现出较为审慎的避险与获利了结姿态。本季共减仓 33 个仓位并完全清仓 0 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，Roffman Miller Associates Inc /pa/ 的前 5 大核心持股（包含 MSFT, GOOGL, AAPL 等）合计占整体申报市值的 26.8%，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 | MSFT | Microsoft CORP | 股票-科技 | 6.85% | -0.42% | +4.16% | |
| 2 | GOOGL | Alphabet Inc-cl A | 股票-通信服务 | 6.81% | +0.66% | -3.61% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 6.65% | +0.35% | -0.73% | |
| 4 | JPM | Jpmorgan Chase & Co | 股票-金融 | 4.28% | -0.04% | -3.12% | |
| 5 | AMZN | Amazon.com Inc | 股票-周期性消费 | 3.45% | +0.18% | -0.25% | |
| 6 | APH | Amphenol Corp-cl A | 股票-科技 | 3.44% | +0.81% | -5.46% | |
| 7 | AXP | American Express Co | 股票-金融 | 3.24% | +0.01% | -4.26% | |
| 8 | JNJ | Johnson & Johnson | 股票-医疗保健 | 3.08% | -0.21% | +1.73% | |
| 9 | HD | Home Depot Inc | 股票-周期性消费 | 2.57% | -0.07% | -0.93% | |
| 10 | MCD | Mcdonald's CORP | 股票-周期性消费 | 2.54% | -0.57% | -1.83% | |
| 11 | SYK | Stryker CORP | 股票-医疗保健 | 2.46% | -0.30% | -1.02% | |
| 12 | ADP | Automatic Data Processing | 股票-科技 | 2.43% | -0.05% | -1.02% | |
| 13 | V | Visa Inc-class A Shares | 股票-金融 | 2.39% | +0.04% | -1.29% | |
| 14 | CB | Chubb Limited | 股票-金融 | 2.29% | -0.14% | -1.43% | |
| 15 | AFL | Aflac Inc | 股票-金融 | 2.22% | -0.13% | -2.60% | |
| 16 | TXN | Texas Instruments Inc | 股票-科技 | 2.22% | +0.85% | -3.80% | |
| 17 | RPM | Rpm International Inc | 股票-原材料 | 2.19% | +0.01% | -1.52% | |
| 18 | PEP | Pepsico Inc | 股票-非周期性消费 | 2.07% | -0.50% | +1.12% | |
| 19 | NDSN | Nordson CORP | 股票-工业 | 1.99% | +0.03% | -1.03% | |
| 20 | ASML | ASML Holding N.V. | 股票-科技 | 1.83% | +0.73% | -1.39% | |
| 21 | HON | Honeywell International Inc | 股票-工业 | 1.76% | -2.09% | EXIT | |
| 22 | GD | General Dynamics CORP | 股票-工业 | 1.60% | -0.09% | +1.97% | |
| 23 | AME | Ametek Inc | 股票-工业 | 1.58% | +0.06% | -2.04% | |
| 24 | DIS | Walt Disney Co/the | 股票-通信服务 | 1.44% | -0.15% | -1.34% | |
| 25 | TJX | Tjx Companies Inc | 股票-周期性消费 | 1.36% | -0.19% | -5.17% | |
| 26 | MKC | Mccormick & Co-non Vtg Shrs | 股票-非周期性消费 | 1.34% | -0.16% | -3.14% | |
| 27 | MRK | Merck & Co. Inc. | 股票-医疗保健 | 1.33% | -0.05% | +9.31% | |
| 28 | CHD | Church & Dwight Co Inc | 股票-非周期性消费 | 1.28% | -0.10% | -1.60% | |
| 29 | TMO | Thermo Fisher Scientific Inc | 股票-医疗保健 | 1.26% | -0.06% | -0.57% | |
| 30 | ICE | Intercontinental Exchange In | 股票-金融 | 1.16% | -0.36% | +4.57% | |
| 31 | XOM | Exxon Mobil CORP | 股票-能源 | 1.16% | -1.69% | EXIT | |
| 32 | CRM | Salesforce Inc | 股票-科技 | 1.16% | -0.25% | +0.74% | |
| 33 | LLY | Eli Lilly & Co | 股票-医疗保健 | 1.12% | +0.40% | +15.91% | |
| 34 | EXPO | Exponent Inc | 股票-工业 | 1.12% | -0.23% | -2.33% | |
| 35 | COST | Costco Wholesale CORP | 股票-非周期性消费 | 1.07% | -0.17% | +3.49% | |
| 36 | ACN | Accenture plc | 股票-科技 | 1.03% | -0.37% | -4.28% | |
| 37 | NVDA | Nvidia CORP | 股票-科技 | 1.00% | +0.09% | +18.16% | |
| 38 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 0.96% | -0.02% | +22.99% | |
| 39 | CI | THE Cigna Group | 股票-医疗保健 | 0.89% | -0.07% | -9.90% | |
| 40 | JNJ | Johnson & Johnson | 股票-医疗保健 | 0.87% | -0.04% | -13.49% | |
| 41 | VZ | Verizon Communications Inc | 股票-通信服务 | 0.85% | -0.27% | -4.60% | |
| 42 | ADBE | Adobe Inc | 股票-科技 | 0.81% | -0.13% | -5.33% | |
| 43 | APD | Air Products & Chemicals Inc | 股票-原材料 | 0.78% | -0.09% | -2.39% | |
| 44 | BAC | Bank Of America CORP | 股票-金融 | 0.76% | -0.01% | -10.86% | |
| 45 | PPL | Ppl CORP | 股票-公用事业 | 0.67% | -0.09% | +7.79% | |
| 46 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 0.58% | +0.22% | +37.72% | |
| 47 | UGI | Ugi CORP | 股票-公用事业 | 0.58% | -0.04% | +2.94% | |
| 48 | GOOG | Alphabet Inc-cl C | 股票-通信服务 | 0.46% | +0.09% | -1.42% | |
| 49 | BA | Boeing Co/the | 股票-工业 | 0.38% | +0.02% | -0.98% | |
| 50 | DHR | Danaher CORP | 股票-医疗保健 | 0.38% | -0.05% | -5.24% |
| # | 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 | +1.2% | -3.61% | 减仓 |
| 2 | LLY | Eli Lilly & Co | +0.4% | +15.91% | 加仓 |
| 3 | MRK | Merck & Co. Inc. | +0.3% | +9.31% | 加仓 |
| 4 | JNJ | Johnson & Johnson | +0.3% | +1.73% | 加仓 |
| 5 | AAPL | Apple Inc | +0.2% | -0.73% | 减仓 |
| 6 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | +37.72% | 加仓 |
| 7 | TMO | Thermo Fisher Scientific Inc | +0.2% | -0.57% | 减仓 |
| 8 | BRK-B | Berkshire Hathaway Inc-cl B | +0.2% | +22.99% | 加仓 |
| 9 | CB | Chubb Limited | +0.1% | -1.43% | 减仓 |
| 10 | AXP | American Express Co | +0.1% | -4.26% | 减仓 |
| 11 | NVDA | Nvidia CORP | +0.1% | +18.16% | 加仓 |
| 12 | ASML | ASML Holding N.V. | +0.1% | -1.39% | 减仓 |
| 13 | CRM | Salesforce Inc | +0.1% | +0.74% | 加仓 |
| 14 | XOM | Exxon Mobil CORP | +0.1% | +5.54% | 加仓 |
| 15 | GOOG | Alphabet Inc-cl C | +0.1% | -1.42% | 减仓 |
| 16 | AMZN | Amazon.com Inc | +0.1% | -0.25% | 减仓 |
| 17 | AME | Ametek Inc | +0.1% | -2.04% | 减仓 |
| 18 | UGI | Ugi CORP | +0.1% | +2.94% | 加仓 |
| 19 | NDSN | Nordson CORP | +0.1% | -1.03% | 减仓 |
| 20 | ALB | Albemarle CORP | +0.1% | -10.35% | 减仓 |
| 21 | O | Realty Income CORP | 0% | +34.60% | 加仓 |
| 22 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | +13.88% | 加仓 |
| 23 | APH | Amphenol Corp-cl A | 0% | -5.46% | 减仓 |
| 24 | PEP | Pepsico Inc | 0% | +1.12% | 加仓 |
| 25 | ACN | Accenture plc | 0% | -4.28% | 减仓 |
| 26 | STZ | Constellation Brands Inc-a | 0% | -27.44% | 减仓 |
| 27 | META | Meta Platforms Inc-class A | -0.1% | -5.46% | 减仓 |
| 28 | BAC | Bank Of America CORP | -0.1% | -10.86% | 减仓 |
| 29 | ADBE | Adobe Inc | -0.1% | -5.33% | 减仓 |
| 30 | COST | Costco Wholesale CORP | -0.1% | +3.49% | 加仓 |
| 31 | JNJ | Johnson & Johnson | -0.1% | -13.49% | 减仓 |
| 32 | FMC | Fmc CORP | -0.1% | -16.23% | 减仓 |
| 33 | CHD | Church & Dwight Co Inc | -0.1% | -1.60% | 减仓 |
| 34 | VZ | Verizon Communications Inc | -0.1% | -4.60% | 减仓 |
| 35 | APD | Air Products & Chemicals Inc | -0.1% | -2.39% | 减仓 |
| 36 | DEO | Diageo Plc-sponsored Adr | -0.1% | -24.18% | 减仓 |
| 37 | AFL | Aflac Inc | -0.2% | -2.60% | 减仓 |
| 38 | JPM | Jpmorgan Chase & Co | -0.2% | -3.12% | 减仓 |
| 39 | CI | THE Cigna Group | -0.2% | -9.90% | 减仓 |
| 40 | ORCL | Oracle CORP | -0.2% | -9.44% | 减仓 |
| 41 | SYK | Stryker CORP | -0.2% | -1.02% | 减仓 |
| 42 | HON | Honeywell International Inc | -0.2% | -2.46% | 减仓 |
| 43 | TXN | Texas Instruments Inc | -0.3% | -3.80% | 减仓 |
| 44 | MSFT | Microsoft CORP | -0.4% | +4.16% | 加仓 |
| 45 | RPM | Rpm International Inc | -0.4% | -1.52% | 减仓 |
| 46 | ADP | Automatic Data Processing | -0.4% | -1.02% | 减仓 |
| 47 | HD | Home Depot Inc | -0.6% | -0.93% | 减仓 |
| 48 | VOO | Vanguard S&p 500 ETF | — | NEW | 新建仓 |
| 49 | SOLS | Solstice Adv Materials Inc | — | NEW | 新建仓 |
| 50 | SCHB | Schwab US Broad Market ETF | — | NEW | 新建仓 |
根据 SEC 官方 Form 13F 申报备案，Roffman Miller Associates Inc /pa/ 在 Q4 2025 季度的美股持仓总市值约为 US$19.1亿，共申报了 84 个公开持股仓位。
在 Q4 2025 季度，Roffman Miller Associates Inc /pa/ 按市值排列的前三大核心持股分别为：MSFT (6.8%)、GOOGL (6.8%)、AAPL (6.7%)。其中最大持股仓位 MSFT 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
VOO
市值: US$328.8万
本季最大获利了结 / 清仓标的
AAPL
前期市值: US$1.1亿
在 Q4 2025 季度中，Roffman Miller Associates Inc /pa/ 共进行了 50 项持仓异动，包含新建仓 3 个仓位、加仓 14 个仓位、减仓 33 个仓位以及清仓 0 个仓位。 其中最大新建仓标的为 VOO。
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。