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: 0001477872
申报总市值
US$18.3亿
US$18.3亿
43 檔
39.7%
根据最新整理的 13F 季度数据集，Saratoga Research & Investment Management 于 Q3 2025 结束时的管理资产规模为 US$18.3亿。该机构在本季度申报了 43 档美股持仓，呈现出该时期的主要投资地图。
在 Q3 2025，Saratoga Research & Investment Management 展现出较为审慎的避险与获利了结姿态。本季共减仓 26 个仓位并完全清仓 2 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，Saratoga Research & Investment Management 的前 5 大核心持股（包含 GOOGL, MSFT, BRK-B 等）合计占整体申报市值的 39.7%，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 | GOOGL | Alphabet Inc-cl A | 股票-通信服务 | 9.98% | -0.21% | -5.08% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 8.18% | -0.93% | -4.59% | |
| 3 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 7.01% | -0.34% | +3.77% | |
| 4 | UL | Unilever PLC | 股票-非周期性消费 | 6.50% | — | -2.24% | |
| 5 | DIS | Walt Disney Co/the | 股票-通信服务 | 6.09% | -0.46% | -18.49% | |
| 6 | MDT | Medtronic plc | 股票-医疗保健 | 5.80% | -0.63% | -0.85% | |
| 7 | NVO | Novo-nordisk A/s-spons Adr | 股票-医疗保健 | 5.35% | +1.32% | +22.54% | |
| 8 | ORCL | Oracle CORP | 股票-科技 | 5.21% | — | -21.07% | |
| 9 | JNJ | Johnson & Johnson | 股票-医疗保健 | 4.68% | -0.84% | -3.15% | |
| 10 | RHHBY | Roche Holdings Ltd-spons Adr | 股票-其他 | 4.18% | -0.30% | -2.93% | |
| 11 | ASML | ASML Holding N.V. | 股票-科技 | 3.72% | +1.66% | -1.57% | |
| 12 | GD | General Dynamics CORP | 股票-工业 | 3.50% | -0.28% | -4.19% | |
| 13 | RTX | Rtx CORP | 股票-工业 | 2.87% | -0.31% | -21.26% | |
| 14 | SBUX | Starbucks CORP | 股票-周期性消费 | 2.74% | +0.09% | +21.83% | |
| 15 | LLY | Eli Lilly & Co | 股票-医疗保健 | 2.44% | +1.10% | +65.07% | |
| 16 | CHRW | C.h. Robinson Worldwide Inc | 股票-工业 | 2.25% | +0.05% | -26.21% | |
| 17 | V | Visa Inc-class A Shares | 股票-金融 | 2.07% | +0.09% | -4.15% | |
| 18 | HD | Home Depot Inc | 股票-周期性消费 | 2.02% | -0.02% | -3.95% | |
| 19 | ACN | Accenture plc | 股票-科技 | 1.87% | -1.48% | -2.26% | |
| 20 | PG | Procter & Gamble Co/the | 股票-非周期性消费 | 1.79% | -0.23% | +7.31% | |
| 21 | DEO | Diageo Plc-sponsored Adr | 股票-非周期性消费 | 1.67% | -0.01% | -1.33% | |
| 22 | AAPL | Apple Inc | 股票-科技 | 1.65% | -0.02% | -6.96% | |
| 23 | PEP | Pepsico Inc | 股票-非周期性消费 | 1.33% | -0.31% | +8.40% | |
| 24 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-政府公债 | 1.17% | -0.04% | -1.67% | |
| 25 | NVDA | Nvidia CORP | 股票-科技 | 0.97% | +0.88% | -2.31% | |
| 26 | HON | Honeywell International Inc | 股票-工业 | 0.92% | -2.13% | EXIT | |
| 27 | WMT | Walmart Inc | 股票-非周期性消费 | 0.87% | — | -7.02% | |
| 28 | ZTS | Zoetis Inc | 股票-医疗保健 | 0.84% | -0.03% | +11.58% | |
| 29 | CL | Colgate-palmolive Co | 股票-非周期性消费 | 0.81% | -0.04% | -0.82% | |
| 30 | ADBE | Adobe Inc | 股票-科技 | 0.77% | -0.03% | EXIT | |
| 31 | NKE | Nike Inc -cl B | 股票-周期性消费 | 0.45% | -0.35% | EXIT | |
| 32 | GOOG | Alphabet Inc-cl C | 股票-通信服务 | 0.05% | — | -13.72% | |
| 33 | IBM | Intl Business Machines CORP | 股票-科技 | 0.04% | — | — | |
| 34 | CSCO | Cisco Systems Inc | 股票-科技 | 0.04% | -0.02% | -35.65% | |
| 35 | AMGN | Amgen Inc | 股票-医疗保健 | 0.03% | -0.01% | — | |
| 36 | KO | Coca-cola Co/the | 股票-非周期性消费 | 0.03% | — | — | |
| 37 | SYY | Sysco CORP | 股票-非周期性消费 | 0.03% | -0.03% | EXIT | |
| 38 | PAYX | Paychex Inc | 股票-科技 | 0.03% | — | — | |
| 39 | AMZN | Amazon.com Inc | 股票-周期性消费 | 0.02% | +0.01% | — | |
| 40 | LMT | Lockheed Martin CORP | 股票-工业 | 0.02% | — | — | |
| 41 | TROW | T Rowe Price Group Inc | 股票-金融 | 0.02% | — | — | |
| 42 | JQUA | Jpmorgan US Quality Factor | ETF-其他 | 0.01% | +0.07% | -81.00% | |
| 43 | UBFO | United Security Bancshare/ca | 股票-其他 | 0.01% | -0.01% | EXIT |
| # | 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 | +3.2% | -5.08% | 减仓 |
| 2 | MSFT | Microsoft CORP | +1.8% | -4.59% | 减仓 |
| 3 | LLY | Eli Lilly & Co | +1.1% | +65.07% | 加仓 |
| 4 | ASML | ASML Holding N.V. | +1.1% | -1.57% | 减仓 |
| 5 | ORCL | Oracle CORP | +0.8% | -21.07% | 减仓 |
| 6 | NVDA | Nvidia CORP | +0.4% | -2.31% | 加仓 |
| 7 | GD | General Dynamics CORP | +0.4% | -4.19% | 减仓 |
| 8 | PG | Procter & Gamble Co/the | +0.3% | +7.31% | 加仓 |
| 9 | HON | Honeywell International Inc | +0.3% | +45.41% | 加仓 |
| 10 | JNJ | Johnson & Johnson | +0.3% | -3.15% | 减仓 |
| 11 | MDT | Medtronic plc | +0.2% | -0.85% | 减仓 |
| 12 | SBUX | Starbucks CORP | +0.1% | +21.83% | 加仓 |
| 13 | HD | Home Depot Inc | +0.1% | -3.95% | 减仓 |
| 14 | NVO | Novo-nordisk A/s-spons Adr | 0% | +22.54% | 加仓 |
| 15 | PEP | Pepsico Inc | 0% | +8.40% | 加仓 |
| 16 | TROW | T Rowe Price Group Inc | 0% | — | 加仓 |
| 17 | PAYX | Paychex Inc | — | — | 不变 |
| 18 | IBM | Intl Business Machines CORP | — | — | 不变 |
| 19 | AMZN | Amazon.com Inc | — | — | 不变 |
| 20 | SYY | Sysco CORP | — | -0.75% | 减仓 |
| 21 | LMT | Lockheed Martin CORP | — | — | 不变 |
| 22 | UBFO | United Security Bancshare/ca | — | — | 不变 |
| 23 | CSCO | Cisco Systems Inc | 0% | -35.65% | 减仓 |
| 24 | GOOG | Alphabet Inc-cl C | 0% | -13.72% | 减仓 |
| 25 | JQUA | Jpmorgan US Quality Factor | 0% | -81.00% | 减仓 |
| 26 | AMGN | Amgen Inc | 0% | — | 加仓 |
| 27 | KO | Coca-cola Co/the | 0% | — | 不变 |
| 28 | BIL | Ss Spdr Bb 1-3m T-bill ETF | -0.1% | -1.67% | 减仓 |
| 29 | CL | Colgate-palmolive Co | -0.2% | -0.82% | 加仓 |
| 30 | CHRW | C.h. Robinson Worldwide Inc | -0.2% | -26.21% | 减仓 |
| 31 | RHHBY | Roche Holdings Ltd-spons Adr | -0.2% | -2.93% | 减仓 |
| 32 | DEO | Diageo Plc-sponsored Adr | -0.2% | -1.33% | 减仓 |
| 33 | UL | Unilever PLC | -0.6% | -2.24% | 减仓 |
| 34 | ACN | Accenture plc | -0.6% | -2.26% | 减仓 |
| 35 | ADBE | Adobe Inc | -0.7% | -4.42% | 减仓 |
| 36 | BRK-B | Berkshire Hathaway Inc-cl B | -0.8% | +3.77% | 减仓 |
| 37 | DIS | Walt Disney Co/the | -1% | -18.49% | 减仓 |
| 38 | WMT | Walmart Inc | -1% | -7.02% | 减仓 |
| 39 | V | Visa Inc-class A Shares | -1% | -4.15% | 减仓 |
| 40 | AAPL | Apple Inc | -1.1% | -6.96% | 减仓 |
| 41 | RTX | Rtx CORP | -1.5% | -21.26% | 减仓 |
| 42 | NKE | Nike Inc -cl B | -1.7% | -51.55% | 减仓 |
| 43 | ZTS | Zoetis Inc | — | NEW | 新建仓 |
| 44 | CTSH | Cognizant Tech Solutions-a | — | EXIT | 清仓 |
| 45 | BDX | Becton Dickinson And Co | — | EXIT | 清仓 |
根据 SEC 官方 Form 13F 申报备案，Saratoga Research & Investment Management 在 Q3 2025 季度的美股持仓总市值约为 US$18.3亿，共申报了 43 个公开持股仓位。
在 Q3 2025 季度，Saratoga Research & Investment Management 按市值排列的前三大核心持股分别为：GOOGL (10.0%)、MSFT (8.2%)、BRK-B (7.0%)。其中最大持股仓位 GOOGL 占据整体投资组合约 10.0% 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
ZTS
市值: US$1609.8万
本季最大获利了结 / 清仓标的
CTSH
前期市值: US$56.8万
在 Q3 2025 季度中，Saratoga Research & Investment Management 共进行了 39 项持仓异动，包含新建仓 1 个仓位、加仓 10 个仓位、减仓 26 个仓位以及清仓 2 个仓位。 其中最大新建仓标的为 ZTS。 本季清仓仓位包含 CTSH。
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。