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: 0000902584
申報總市值
US$10.0億
US$10.0億
149 檔
14.4%
根據最新整理的 13F 季度數據集，Advisory Research Inc 於 Q3 2025 結束時的管理資產規模為 US$10.0億。該機構在本季度申報了 149 檔美股持倉，呈現出該時期的主要投資地圖。
Advisory Research Inc 在 Q3 2025 進行了結構性的板塊輪動與部位換股。在開立 19 個全新部位及加碼 69 檔持股的同時，亦同步清倉 18 檔並減碼 52 檔標的。
整體而言，Advisory Research Inc 的前 5 大持股（包含 TSM, OPLN, TRS）貢獻了組合市值的 14.4%，形成該機構在 Q3 2025 季度的基本面基石。
| # | 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 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 3.85% | +0.62% | +8.66% | |
| 2 | OPLN | Openlane Inc | 股票-其他 | 3.85% | +1.72% | +21.26% | |
| 3 | TRS | Trimas CORP | 股票-其他 | 3.81% | +0.49% | -28.30% | |
| 4 | PM | Philip Morris International | 股票-非循環性消費 | 3.73% | -0.23% | +19.25% | |
| 5 | AVGO | Broadcom Inc | 股票-科技 | 3.71% | +0.05% | +0.80% | |
| 6 | BELFB | Bel Fuse Inc-cl B | 股票-其他 | 3.58% | +1.02% | -50.48% | |
| 7 | DJCO | Daily Journal CORP | 股票-其他 | 3.51% | +0.01% | +51.87% | |
| 8 | PRSU | Pursuit Attractions And Hosp | 股票-其他 | 3.45% | +0.67% | +15.95% | |
| 9 | TPR | Tapestry Inc | 股票-循環性消費 | 3.39% | -0.29% | +30.08% | |
| 10 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.93% | +0.08% | +47.26% | |
| 11 | MSFT | Microsoft CORP | 股票-科技 | 2.84% | -0.31% | +28.74% | |
| 12 | MTG | Mgic Investment CORP | 股票-金融 | 2.79% | -0.26% | +16.34% | |
| 13 | JBTM | Jbt Marel CORP | 股票-工業 | 2.44% | +0.54% | -1.34% | |
| 14 | LEGH | Legacy Housing CORP | 股票-其他 | 2.38% | +0.09% | -0.02% | |
| 15 | CME | Cme Group Inc | 股票-金融 | 2.17% | -0.87% | +19.25% | |
| 16 | ABBV | Abbvie Inc | 股票-醫療保健 | 2.13% | -0.04% | +16.43% | |
| 17 | PHIN | Phinia Inc | 股票-循環性消費 | 2.07% | -0.31% | EXIT | |
| 18 | AEP | American Electric Power | 股票-公用事業 | 1.97% | -0.27% | +17.53% | |
| 19 | PFGC | Performance Food Group Co | 股票-非循環性消費 | 1.93% | +0.02% | -2.13% | |
| 20 | GSK | Gsk Plc-spon Adr | 股票-醫療保健 | 1.80% | -0.26% | +31.75% | |
| 21 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.62% | -0.22% | +105.28% | |
| 22 | MYE | Myers Industries Inc | 股票-其他 | 1.57% | +2.57% | +476.42% | |
| 23 | DRVN | Driven Brands Holdings Inc | 股票-其他 | 1.41% | — | — | |
| 24 | KB | Kb Financial Group Inc-adr | 股票-金融 | 1.31% | -0.18% | +23.27% | |
| 25 | HUBB | Hubbell Inc | 股票-工業 | 1.29% | -0.15% | +15.00% | |
| 26 | KDP | Keurig Dr Pepper Inc | 股票-非循環性消費 | 1.27% | +0.11% | +13.96% | |
| 27 | EEX | Emerald Holding Inc | 股票-其他 | 1.19% | -1.04% | EXIT | |
| 28 | VZ | Verizon Communications Inc | 股票-通訊服務 | 1.07% | — | +17.56% | |
| 29 | FERG | Ferguson Enterprises Inc | 股票-工業 | 0.97% | -0.12% | +7.02% | |
| 30 | LAMR | Lamar Advertising Co-a | 股票-房地產 | 0.95% | +0.11% | +14.71% | |
| 31 | HLLY | Holley Inc | 股票-其他 | 0.93% | -0.04% | — | |
| 32 | UL | Unilever PLC | 股票-非循環性消費 | 0.83% | — | +23.57% | |
| 33 | NIC | Nicolet Bankshares Inc | 股票-其他 | 0.74% | -0.08% | -1.19% | |
| 34 | SGOV | Ishares 0-3 Month Treasury B | ETF-政府公債 | 0.68% | +0.03% | -35.12% | |
| 35 | SSB | Southstate Bank CORP | 股票-金融 | 0.62% | -0.08% | — | |
| 36 | HMC | Honda Motor Co Ltd-spons Adr | 股票-循環性消費 | 0.59% | — | +15.99% | |
| 37 | VGSH | Vanguard Short-term Treasury | ETF-政府公債 | 0.54% | -0.05% | — | |
| 38 | WAL | Western Alliance Bancorp | 股票-金融 | 0.53% | -0.02% | +4.08% | |
| 39 | HD | Home Depot Inc | 股票-循環性消費 | 0.52% | -0.06% | +1.87% | |
| 40 | SHV | Ishares 0-1 Year Treasury Bo | ETF-政府公債 | 0.52% | -0.09% | -15.07% | |
| 41 | VCIT | Vanguard Int-term Corporate | ETF-投資等級公司債 | 0.49% | -0.10% | +0.54% | |
| 42 | LRCX | Lam Research CORP | 股票-科技 | 0.49% | +0.34% | +2.38% | |
| 43 | ORCL | Oracle CORP | 股票-科技 | 0.47% | -0.05% | +5.26% | |
| 44 | DAC | Danaos Corporation | 股票-其他 | 0.46% | -0.08% | +5.19% | |
| 45 | ALKT | Alkami Technology Inc | 股票-其他 | 0.45% | -0.03% | +121.16% | |
| 46 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 0.44% | -0.02% | -9.98% | |
| 47 | BELFA | Bel Fuse Inc-cl A | 股票-其他 | 0.43% | — | — | |
| 48 | EXP | Eagle Materials Inc | 股票-原物料 | 0.43% | -0.02% | -71.51% | |
| 49 | ACA | Arcosa Inc | 股票-工業 | 0.41% | +0.01% | — | |
| 50 | IGIB | Ishares 5-10y Inv Grade CORP | ETF-投資等級公司債 | 0.41% | -0.07% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +1.8% | +47.26% | 加碼 |
| 2 | AVGO | Broadcom Inc | +1.6% | +0.80% | 加碼 |
| 3 | TPR | Tapestry Inc | +1.5% | +30.08% | 加碼 |
| 4 | TSM | Taiwan Semiconductor-sp Adr | +1.4% | +8.66% | 加碼 |
| 5 | OPLN | Openlane Inc | +1.1% | +21.26% | 加碼 |
| 6 | DJCO | Daily Journal CORP | +1.1% | +51.87% | 加碼 |
| 7 | MSFT | Microsoft CORP | +1% | +28.74% | 加碼 |
| 8 | META | Meta Platforms Inc-class A | +0.9% | +105.28% | 加碼 |
| 9 | MTG | Mgic Investment CORP | +0.5% | +16.34% | 加碼 |
| 10 | PRSU | Pursuit Attractions And Hosp | +0.4% | +15.95% | 加碼 |
| 11 | KB | Kb Financial Group Inc-adr | +0.4% | +23.27% | 加碼 |
| 12 | CME | Cme Group Inc | +0.4% | +19.25% | 加碼 |
| 13 | HUBB | Hubbell Inc | +0.3% | +15.00% | 加碼 |
| 14 | ORCL | Oracle CORP | +0.3% | +5.26% | 加碼 |
| 15 | LRCX | Lam Research CORP | +0.3% | +2.38% | 加碼 |
| 16 | GSK | Gsk Plc-spon Adr | +0.3% | +31.75% | 加碼 |
| 17 | ABBV | Abbvie Inc | +0.2% | +16.43% | 加碼 |
| 18 | FERG | Ferguson Enterprises Inc | +0.2% | +7.02% | 加碼 |
| 19 | BELFA | Bel Fuse Inc-cl A | +0.2% | — | 加碼 |
| 20 | EME | Emcor Group Inc | +0.2% | +6.25% | 加碼 |
| 21 | LMT | Lockheed Martin CORP | +0.2% | +50.24% | 加碼 |
| 22 | DAC | Danaos Corporation | +0.1% | +5.19% | 加碼 |
| 23 | NTAP | Netapp Inc | +0.1% | +4.31% | 加碼 |
| 24 | VUSB | Vanguard Ultra Short Bond Et | +0.1% | +113.60% | 加碼 |
| 25 | LAMR | Lamar Advertising Co-a | +0.1% | +14.71% | 加碼 |
| 26 | IGSB | Ishares 1-5y Inv Grade CORP | +0.1% | +106.90% | 加碼 |
| 27 | STLD | Steel Dynamics Inc | +0.1% | +3.16% | 加碼 |
| 28 | PM | Philip Morris International | +0.1% | +19.25% | 加碼 |
| 29 | AEP | American Electric Power | +0.1% | +17.53% | 加碼 |
| 30 | AX | Axos Financial Inc | +0.1% | +3.87% | 加碼 |
| 31 | ACN | Accenture plc | +0.1% | +43.76% | 加碼 |
| 32 | NRG | Nrg Energy Inc | +0.1% | +4.09% | 加碼 |
| 33 | HMC | Honda Motor Co Ltd-spons Adr | +0.1% | +15.99% | 加碼 |
| 34 | VCSH | Vanguard S/t CORP Bond ETF | +0.1% | +48.80% | 加碼 |
| 35 | ARES | Ares Management CORP - A | +0.1% | +4.96% | 加碼 |
| 36 | NVT | nVent Electric plc | +0.1% | +4.29% | 加碼 |
| 37 | 9HI | Hillenbrand Inc | +0.1% | +10.67% | 加碼 |
| 38 | MTDR | Matador Resources Co | 0% | +9.54% | 加碼 |
| 39 | HD | Home Depot Inc | 0% | +1.87% | 加碼 |
| 40 | SUPN | Supernus Pharmaceuticals Inc | 0% | +3.57% | 加碼 |
| 41 | EHC | Encompass Health CORP | 0% | +4.09% | 加碼 |
| 42 | BYD | Boyd Gaming CORP | 0% | +3.81% | 加碼 |
| 43 | EXP | Eagle Materials Inc | — | -71.51% | 加碼 |
| 44 | XBI | Ss Spdr S&p Biotech ETF | — | +3.95% | 加碼 |
| 45 | GENI | Genius Sports Limited | — | +3.67% | 加碼 |
| 46 | PATK | Patrick Industries Inc | — | +3.88% | 加碼 |
| 47 | ADUS | Addus Homecare CORP | — | +3.85% | 加碼 |
| 48 | ATOM | Atomera Inc | — | — | 不變 |
| 49 | MCRI | Monarch Casino & Resort Inc | 0% | — | 減碼 |
| 50 | FUL | H.b. Fuller Co. | 0% | +3.95% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Advisory Research Inc 在 Q3 2025 季度的美股持倉總市值約為 US$10.0億，共申報了 149 個公開持股部位。
在 Q3 2025 季度，Advisory Research Inc 按市值排列的前三大核心持股分別為：TSM (3.9%)、OPLN (3.9%)、TRS (3.8%)。其中最大持股部位 TSM 佔據整體投資組合約 3.9% 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
MYE
市值: US$1196.1萬
本季最大獲利了結 / 清倉標的
SSBUSD
前期市值: US$958.0萬
在 Q3 2025 季度中，Advisory Research Inc 共進行了 158 項持倉異動，包含新建倉 19 個部位、加碼 69 個部位、減碼 52 個部位以及清倉 18 個部位。 其中最大新建倉標的為 MYE。 本季清倉部位包含 SSBUSD。
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。