Price T Rowe Associates2026-Q1
T. Rowe Price 在 2026 年第一季的最大動作是大幅減持微軟，將其投資組合權重由 6.56% 降至 5.02%。該公司也完全清倉 AstraZeneca (AZNN) 並新建倉 AstraZeneca (AZN)，反映企業行動調整。
| 代號 | 動作 | 市值 ($) | 佔投資組合比重 (%) |
|---|---|---|---|
| AZN | 新建倉位 | $3.84B | 0.44% |
| AZNN | 完全清倉 | $4.47B | 0.48% |
AZN 與 AZNN 的變動應係同一標的之公司事件所致，並非主動的行業配置調整。
| 代號 | 動作 | 市值變動 | 權重變動 (百分點) | 備註 |
|---|---|---|---|---|
| MSFT | 減碼 | -$17.40B | -1.54pts | |
| NVDA | 減碼 | -$5.05B | -0.04pts | |
| AMZN | 減碼 | -$4.61B | -0.30pts | |
| AAPL | 減碼 | -$4.46B | -0.08pts | |
| META | 減碼 | -$4.31B | -0.32pts | |
| AVGO | 減碼 | -$3.46B | -0.17pts | |
| LLY | 減碼 | -$3.15B | -0.24pts | |
| GOOGL | 減碼 | -$3.13B | -0.15pts | |
| GOOG | 減碼 | -$2.60B | -0.13pts | |
| TSLA | 減碼 | -$2.29B | -0.17pts | |
| COP | 加碼 | +$2.14B | +0.28pts | |
| V | 減碼 | -$2.00B | -0.11pts | |
| APP | 減碼 | -$1.94B | -0.19pts | |
| XOM | 加碼 | +$1.91B | +0.25pts | |
| CVNA | 加碼 | -$1.89B | -0.16pts | 雖加碼，但股價跌幅超過加碼規模，市值反而下滑（檔案原文：NOT a sell） |
| APH | 減碼 | -$1.82B | -0.17pts | |
| MA | 減碼 | -$1.59B | -0.10pts | |
| INTU | 減碼 | -$1.55B | -0.15pts | |
| GE | 減碼 | -$1.52B | -0.12pts | |
| AMD | 加碼 | +$1.52B | +0.21pts | |
| JNJ | 加碼 | +$1.46B | +0.19pts | |
| NFLX | 加碼 | +$1.45B | +0.23pts | |
| NOW | 加碼 | -$1.40B | -0.13pts | 雖加碼，但股價跌幅超過加碼規模，市值反而下滑（檔案原文：NOT a sell） |
| TMO | 減碼 | -$1.36B | -0.12pts | |
| ISRG | 減碼 | -$1.34B | -0.10pts | |
| ANET | 減碼 | -$1.27B | -0.11pts | |
| XEL | 減碼 | -$1.26B | -0.13pts | |
| ELV | 減碼 | -$1.22B | -0.12pts | |
| CSCO | 加碼 | +$1.16B | +0.16pts | |
| DASH | 減碼 | -$1.13B | -0.11pts | |
| CIEN | 加碼 | +$1.09B | +0.14pts | |
| CVX | 加碼 | +$1.06B | +0.15pts | |
| MELI | 減碼 | -$1.05B | -0.09pts | |
| CI | 減碼 | -$1.04B | -0.11pts | |
| BAC | 減碼 | -$1.01B | -0.07pts | |
| PLTR | 減碼 | -$985.3M | -0.09pts | |
| C | 減碼 | -$982.0M | -0.08pts | |
| IR | 加碼 | +$940.2M | +0.12pts | |
| PM | 加碼 | +$929.1M | +0.13pts | |
| JPM | 減碼 | -$917.9M | -0.04pts | |
| ACN | 減碼 | -$913.2M | -0.10pts | |
| CNQ | 加碼 | +$892.6M | +0.11pts | |
| QCOM | 減碼 | -$882.6M | -0.09pts | |
| COST | 加碼 | +$881.9M | +0.12pts | |
| VRT | 加碼 | +$879.5M | +0.11pts | |
| GEV | 加碼 | +$870.9M | +0.11pts | |
| ORCL | 加碼 | -$870.6M | -0.08pts | 雖加碼，但股價跌幅超過加碼規模，市值反而下滑（檔案原文：NOT a sell） |
| DE | 加碼 | +$859.9M | +0.12pts |
上述三個加碼卻出現市值下跌的標的（CVNA、NOW、ORCL），均因股價跌幅超過新增股數的買進效果，檔案註明為真實買進而非賣出。整體投資組合週轉率由 0.186 升至 0.236，顯示本季對沖動作更為積極。
| 指標 | 本季 | 上季 |
|---|---|---|
| 赫芬達爾指數 | 0.017475 | 0.020013 |
| 持股檔數 | 3133 | 3090 |
| 週轉率 | 0.236097 | 0.185734 |
| 對應市值比率 | 0.9687964463486161 | 0.9659693209663073 |
| 動能傾斜 (百分點) | 0.007752 | 0.015076 |
| 變異係數 | 7.33248 | 7.801281 |
| 能源 | 4.78% | 3.13% |
| 材料 | 1.83% | 1.45% |
| 公用事業 | 1.95% | 1.80% |
| 金融 | 11.68% | 12.33% |
| 醫療保健 | 10.54% | 10.44% |
| 工業 | 8.63% | 7.58% |
| 房地產 | 2.60% | 2.35% |
| 必需消費 | 3.16% | 2.61% |
| 通訊服務 | 10.55% | 10.81% |
| 非必需消費 | 9.95% | 10.72% |
| 資訊科技 | 34.34% | 36.77% |
本季投資組合更加分散，資訊科技權重顯著降低 2.43 個百分點，能源權重近乎翻倍。大型科技股的減碼主導了交易活動，而加碼集中在能源、工業及非科技股。赫芬達爾集中度指數由 0.020 降至 0.017，證實持股分散度進一步提升。