13F 申報指南13F 觀念全攻略
什麼是 SEC Form 13F 申報？美股機構大戶持股全攻略
完整解讀 Form 13F 申報規範、1 億美元門檻與 45 天延遲申報機制，學會如何追蹤頂級對沖基金與機構法人持倉動向。
AlphaSMO 權威研究指南閱讀專題
CIK: 0000216851
申報總市值
US$7.6億
US$7.6億
55 檔
44.4%
在 Q3 2025 的 13F 官方備案中，Adams Natural Resources Fund, Inc. 管理的美股投資組合規模來到 US$7.6億，整體持股檔數為 55 檔。
在 Q3 2025 期間，Adams Natural Resources Fund, Inc. 展現了靈活的資產再平衡步調，透過出清 4 檔弱勢或達到目標價部位，將資金轉置於 6 檔新建倉標的之中。
從部位權重觀察，前 5 大標的（包含 XOM, CVX, COP）累計市值佔比達 44.4%，是驅動 Adams Natural Resources Fund, Inc. 該季度整體投資組合績效表現的核心支柱。
| # | 代號 | 標的名稱 | 資產子類別 | 佔比 | 佔比變動 | 持倉量變化 | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | XOM | Exxon Mobil CORP | 股票-能源 | 22.26% | -26.25% | EXIT | |
| 2 | CVX | Chevron CORP | 股票-能源 | 14.91% | -1.99% | +23.88% | |
| 3 | COP | Conocophillips | 股票-能源 | 6.42% | +0.28% | +19.31% | |
| 4 | LIN | Linde plc | 股票-原物料 | 4.43% | +0.56% | -3.30% | |
| 5 | WMB | Williams Cos Inc | 股票-能源 | 3.36% | +0.28% | -4.19% | |
| 6 | PSX | Phillips 66 | 股票-能源 | 3.29% | -0.15% | +7.63% | |
| 7 | MPC | Marathon Petroleum CORP | 股票-能源 | 3.29% | +0.27% | +7.86% | |
| 8 | KMI | Kinder Morgan, Inc. | 股票-能源 | 2.99% | +0.12% | +9.51% | |
| 9 | BKR | Baker Hughes Co | 股票-能源 | 2.79% | +0.03% | — | |
| 10 | EOG | Eog Resources Inc | 股票-能源 | 2.40% | +0.01% | -28.99% | |
| 11 | VLO | Valero Energy CORP | 股票-能源 | 2.30% | +1.16% | +13.54% | |
| 12 | OKE | Oneok Inc | 股票-能源 | 1.87% | +0.11% | -3.16% | |
| 13 | SLB | Slb LTD | 股票-能源 | 1.85% | +0.05% | -3.79% | |
| 14 | ECL | Ecolab Inc | 股票-原物料 | 1.84% | +0.18% | -1.33% | |
| 15 | EQT | Eqt CORP | 股票-能源 | 1.82% | -0.58% | +97.05% | |
| 16 | OXY | Occidental Petroleum CORP | 股票-能源 | 1.80% | +0.70% | +94.22% | |
| 17 | NEM | Newmont CORP | 股票-原物料 | 1.60% | -0.14% | -1.18% | |
| 18 | DVN | Devon Energy CORP | 股票-能源 | 1.59% | -0.75% | -1.12% | |
| 19 | SHW | Sherwin-williams Co/the | 股票-原物料 | 1.32% | +0.62% | -34.20% | |
| 20 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 1.32% | +0.33% | -10.55% | |
| 21 | VMC | Vulcan Materials Co | 股票-原物料 | 1.24% | +0.20% | -1.12% | |
| 22 | NUE | Nucor CORP | 股票-原物料 | 1.11% | +0.24% | +138.94% | |
| 23 | TRGP | Targa Resources CORP | 股票-能源 | 1.06% | +0.53% | -50.06% | |
| 24 | CTVA | Corteva Inc | 股票-原物料 | 0.94% | +0.08% | — | |
| 25 | 6D8 | Dupont De Nemours Inc | 股票-其他 | 0.93% | -0.42% | EXIT | |
| 26 | APD | Air Products & Chemicals Inc | 股票-原物料 | 0.85% | +0.09% | -1.44% | |
| 27 | FANG | Diamondback Energy Inc | 股票-能源 | 0.77% | +0.23% | -1.11% | |
| 28 | EXE | Expand Energy CORP | 股票-能源 | 0.75% | +0.47% | -57.31% | |
| 29 | TPL | Texas Pacific Land CORP | 股票-能源 | 0.73% | +0.04% | -5.50% | |
| 30 | CF | Cf Industries Holdings Inc | 股票-原物料 | 0.70% | -0.09% | — | |
| 31 | LNG | Cheniere Energy Inc | 股票-能源 | 0.63% | — | +32.33% | |
| 32 | HAL | Halliburton Co | 股票-能源 | 0.59% | +0.01% | -9.69% | |
| 33 | CVE | Cenovus Energy Inc | 股票-能源 | 0.59% | -0.65% | EXIT | |
| 34 | MLM | Martin Marietta Materials | 股票-原物料 | 0.52% | -0.03% | — | |
| 35 | CCK | Crown Holdings Inc | 股票-循環性消費 | 0.47% | -0.34% | EXIT | |
| 36 | CNQ | Canadian Natural Resources | 股票-能源 | 0.47% | — | — | |
| 37 | OVV | Ovintiv Inc | 股票-能源 | 0.45% | — | — | |
| 38 | CTRA | Coterra Energy Inc | 股票-能源 | 0.43% | -0.49% | EXIT | |
| 39 | FTI | TechnipFMC plc | 股票-能源 | 0.38% | +0.03% | — | |
| 40 | PPG | Ppg Industries Inc | 股票-原物料 | 0.29% | +0.07% | — | |
| 41 | IP | International Paper Co | 股票-循環性消費 | 0.29% | +0.03% | — | |
| 42 | SW | Smurfit Westrock Plc | 股票-循環性消費 | 0.27% | +0.06% | — | |
| 43 | PKG | Packaging CORP Of America | 股票-循環性消費 | 0.24% | -0.14% | — | |
| 44 | AMCR | Amcor plc | 股票-循環性消費 | 0.24% | — | +112.55% | |
| 45 | STLD | Steel Dynamics Inc | 股票-原物料 | 0.23% | +0.10% | -11.98% | |
| 46 | DOW | Dow Inc | 股票-原物料 | 0.22% | -0.07% | — | |
| 47 | APA | Apa CORP | 股票-能源 | 0.21% | -0.04% | — | |
| 48 | IFF | Intl Flavors & Fragrances | 股票-原物料 | 0.19% | +0.52% | — | |
| 49 | BALL | Ball CORP | 股票-循環性消費 | 0.18% | +0.02% | — | |
| 50 | LYB | LyondellBasell Industries N.V. | 股票-原物料 | 0.15% | -0.04% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CVX | Chevron CORP | +14.9% | +23.88% | 加碼 |
| 2 | MPC | Marathon Petroleum CORP | +3.2% | +7.86% | 加碼 |
| 3 | KMI | Kinder Morgan, Inc. | +2.8% | +9.51% | 加碼 |
| 4 | WMB | Williams Cos Inc | +2.4% | -4.19% | 加碼 |
| 5 | LIN | Linde plc | +2.2% | -3.30% | 減碼 |
| 6 | OXY | Occidental Petroleum CORP | +1.6% | +94.22% | 加碼 |
| 7 | SLB | Slb LTD | +1.6% | -3.79% | 加碼 |
| 8 | SHW | Sherwin-williams Co/the | +1.1% | -34.20% | 加碼 |
| 9 | PSX | Phillips 66 | +1% | +7.63% | 減碼 |
| 10 | EQT | Eqt CORP | +0.9% | +97.05% | 加碼 |
| 11 | DVN | Devon Energy CORP | +0.9% | -1.12% | 加碼 |
| 12 | FCX | Freeport-mcmoran Inc | +0.7% | -10.55% | 加碼 |
| 13 | 6D8 | Dupont De Nemours Inc | +0.5% | +38.61% | 加碼 |
| 14 | NEM | Newmont CORP | +0.5% | -1.18% | 減碼 |
| 15 | COP | Conocophillips | +0.4% | +19.31% | 加碼 |
| 16 | AMCR | Amcor plc | +0.1% | +112.55% | 加碼 |
| 17 | CTVA | Corteva Inc | +0.1% | — | 不變 |
| 18 | STLD | Steel Dynamics Inc | -0.1% | -11.98% | 減碼 |
| 19 | APD | Air Products & Chemicals Inc | -0.1% | -1.44% | 減碼 |
| 20 | CCK | Crown Holdings Inc | -0.1% | — | 減碼 |
| 21 | DOW | Dow Inc | -0.1% | — | 不變 |
| 22 | IFF | Intl Flavors & Fragrances | -0.1% | — | 減碼 |
| 23 | LYB | LyondellBasell Industries N.V. | -0.2% | — | 加碼 |
| 24 | MOS | Mosaic Co/the | -0.3% | — | 減碼 |
| 25 | MLM | Martin Marietta Materials | -0.4% | — | 減碼 |
| 26 | EMN | Eastman Chemical Co | -0.5% | -74.62% | 減碼 |
| 27 | FANG | Diamondback Energy Inc | -0.5% | -1.11% | 減碼 |
| 28 | OKE | Oneok Inc | -0.6% | -3.16% | 加碼 |
| 29 | TPL | Texas Pacific Land CORP | -0.8% | -5.50% | 減碼 |
| 30 | EXE | Expand Energy CORP | -1.1% | -57.31% | 減碼 |
| 31 | CTRA | Coterra Energy Inc | -1.1% | -48.35% | 減碼 |
| 32 | EOG | Eog Resources Inc | -1.4% | -28.99% | 減碼 |
| 33 | XOM | Exxon Mobil CORP | -1.4% | -2.68% | 減碼 |
| 34 | NUE | Nucor CORP | -1.5% | +138.94% | 減碼 |
| 35 | PPG | Ppg Industries Inc | -1.7% | — | 減碼 |
| 36 | SW | Smurfit Westrock Plc | -2.2% | — | 減碼 |
| 37 | IP | International Paper Co | -2.4% | — | 減碼 |
| 38 | HAL | Halliburton Co | -2.6% | -9.69% | 加碼 |
| 39 | FTI | TechnipFMC plc | -2.8% | — | 減碼 |
| 40 | CF | Cf Industries Holdings Inc | -12.3% | — | 減碼 |
| 41 | ITRI | Itron Inc | — | EXIT | 清倉 |
| 42 | VLO | Valero Energy CORP | — | NEW | 新建倉 |
| 43 | FMC | Fmc CORP | — | EXIT | 清倉 |
| 44 | VMC | Vulcan Materials Co | — | NEW | 新建倉 |
| 45 | LNG | Cheniere Energy Inc | — | NEW | 新建倉 |
| 46 | CE | Celanese CORP | — | EXIT | 清倉 |
| 47 | CVE | Cenovus Energy Inc | — | NEW | 新建倉 |
| 48 | CNQ | Canadian Natural Resources | — | NEW | 新建倉 |
| 49 | OVV | Ovintiv Inc | — | NEW | 新建倉 |
| 50 | HES | Hess CORP | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Adams Natural Resources Fund, Inc. 在 Q3 2025 季度的美股持倉總市值約為 US$7.6億，共申報了 55 個公開持股部位。
在 Q3 2025 季度，Adams Natural Resources Fund, Inc. 按市值排列的前三大核心持股分別為：XOM (22.3%)、CVX (14.9%)、COP (6.4%)。其中最大持股部位 XOM 佔據整體投資組合約 22.3% 的權重。
精選 AlphaSMO 大戶持股與內部人交易深度分析，提升投資決策勝率
完整解讀 Form 13F 申報規範、1 億美元門檻與 45 天延遲申報機制，學會如何追蹤頂級對沖基金與機構法人持倉動向。
本季最大新建倉標的
VLO
市值: US$1513.6萬
本季最大獲利了結 / 清倉標的
ITRI
前期市值: US$2998.7萬
在 Q3 2025 季度中，Adams Natural Resources Fund, Inc. 共進行了 48 項持倉異動，包含新建倉 6 個部位、加碼 16 個部位、減碼 22 個部位以及清倉 4 個部位。 其中最大新建倉標的為 VLO。 本季清倉部位包含 ITRI。
本頁面所有持股數據均直接同步自美國證券交易委員會（SEC）EDGAR 官方系統之 13F-HR / 13F-HR/A 季度申報文件。AlphaSMO 透過機器解析 CUSIP 與個股對照，提供 100% 精準對齊的歷史時序數據集，並支援 Schema.org 結構化資料格式。
解析公司高管、董事與 10% 大股東之 Form 4 內部人交易申報，掌握高管自家股票買賣第一手訊號。
深入剖析 5% 股益申報門檻、13D 與 13G 之差異，以及最新 SEC 申報時程規範，洞察機構法人的激進投資動向。