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: 0001123274
申報總市值
US$51.2億
US$51.2億
194 檔
36.8%
在 Q4 2025 的 13F 官方備案中，Bank Pictet & Cie 管理的美股投資組合規模來到 US$51.2億，整體持股檔數為 194 檔。
從 Q4 2025 申報觀察，Bank Pictet & Cie 採取防禦導向的調倉策略，本季減碼 29 檔個股並出清 1 檔部位，顯示機構在該時期進行風險控制與流動性回收。
從部位權重觀察，前 5 大標的（包含 MSFT, AMZN, NVDA）累計市值佔比達 36.8%，是驅動 Bank Pictet & Cie 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 | MSFT | Microsoft CORP | 股票-科技 | 8.73% | -0.51% | -2.01% | |
| 2 | AMZN | Amazon.com Inc | 股票-循環性消費 | 8.45% | +0.30% | -8.68% | |
| 3 | NVDA | Nvidia CORP | 股票-科技 | 8.36% | +0.76% | -4.28% | |
| 4 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 8.02% | +0.82% | -15.00% | |
| 5 | V | Visa Inc-class A Shares | 股票-金融 | 4.00% | +0.05% | -1.90% | |
| 6 | AAPL | Apple Inc | 股票-科技 | 3.06% | +0.14% | +76.08% | |
| 7 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.62% | -0.22% | -7.33% | |
| 8 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 2.16% | -0.36% | +0.89% | |
| 9 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 2.07% | +0.03% | -25.60% | |
| 10 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 2.02% | +0.18% | — | |
| 11 | CTAS | Cintas CORP | 股票-工業 | 1.93% | -0.15% | — | |
| 12 | ABBV | Abbvie Inc | 股票-醫療保健 | 1.93% | +0.06% | +8.97% | |
| 13 | AVGO | Broadcom Inc | 股票-科技 | 1.91% | +0.51% | +63.14% | |
| 14 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 1.81% | +0.42% | -34.03% | |
| 15 | DHR | Danaher CORP | 股票-醫療保健 | 1.67% | -0.13% | +25.43% | |
| 16 | WFC | Wells Fargo & Co | 股票-金融 | 1.41% | — | -5.99% | |
| 17 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 1.37% | +0.41% | -15.23% | |
| 18 | BRK-A | Berkshire Hathaway Inc-cl A | 股票-其他 | 1.34% | -0.06% | — | |
| 19 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.31% | +0.02% | +1.39% | |
| 20 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.28% | +0.04% | -12.20% | |
| 21 | IDXX | Idexx Laboratories Inc | 股票-醫療保健 | 1.20% | -0.15% | — | |
| 22 | SLB | Slb LTD | 股票-能源 | 1.17% | -0.25% | +53.16% | |
| 23 | ETN | Eaton Corporation plc | 股票-工業 | 1.12% | +0.03% | -4.10% | |
| 24 | CRM | Salesforce Inc | 股票-科技 | 1.11% | -0.17% | -14.75% | |
| 25 | SYK | Stryker CORP | 股票-醫療保健 | 1.10% | -0.12% | +8.23% | |
| 26 | NG | Novagold Resources Inc | 股票-其他 | 1.06% | -0.41% | — | |
| 27 | ORLY | O'reilly Automotive Inc | 股票-循環性消費 | 0.99% | -0.10% | +16.31% | |
| 28 | MCD | Mcdonald's CORP | 股票-循環性消費 | 0.98% | -0.43% | -13.88% | |
| 29 | PM | Philip Morris International | 股票-非循環性消費 | 0.96% | +0.08% | -0.44% | |
| 30 | TTE | TotalEnergies SE | 股票-其他 | 0.94% | -0.60% | — | |
| 31 | LIN | Linde plc | 股票-原物料 | 0.93% | -0.01% | +79.16% | |
| 32 | ZTS | Zoetis Inc | 股票-醫療保健 | 0.93% | -0.42% | -7.58% | |
| 33 | MRSH | Marsh & Mclennan Cos | 股票-金融 | 0.84% | -0.38% | -18.25% | |
| 34 | AMD | Advanced Micro Devices | 股票-科技 | 0.82% | +1.86% | -17.52% | |
| 35 | SPGI | S&p Global Inc | 股票-金融 | 0.78% | -0.01% | +0.31% | |
| 36 | OC | Owens Corning | 股票-工業 | 0.77% | +0.26% | -11.19% | |
| 37 | RRC | Range Resources CORP | 股票-能源 | 0.73% | -0.34% | +100.00% | |
| 38 | CMG | Chipotle Mexican Grill Inc | 股票-循環性消費 | 0.71% | +0.09% | -35.88% | |
| 39 | PSKY | Paramount Skydance Cl B | 股票-通訊服務 | 0.68% | — | — | |
| 40 | BA | Boeing Co/the | 股票-工業 | 0.68% | — | — | |
| 41 | BAC | Bank Of America CORP | 股票-金融 | 0.59% | -0.02% | -14.81% | |
| 42 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.53% | -0.03% | -27.24% | |
| 43 | UBER | Uber Technologies Inc | 股票-工業 | 0.53% | -0.04% | -1.15% | |
| 44 | MA | Mastercard Inc - A | 股票-金融 | 0.49% | +0.04% | -18.31% | |
| 45 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 0.47% | -0.07% | -6.55% | |
| 46 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 0.46% | +0.03% | -22.62% | |
| 47 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 0.44% | -0.05% | +181.22% | |
| 48 | MCO | Moody's CORP | 股票-金融 | 0.43% | -0.04% | -18.24% | |
| 49 | ESLT | Elbit Systems Ltd. | 股票-工業 | 0.41% | — | — | |
| 50 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.40% | -0.06% | -3.82% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | AAPL | Apple Inc | +1.4% | +76.08% | 加碼 |
| 2 | AVGO | Broadcom Inc | +0.8% | +63.14% | 加碼 |
| 3 | GOOGL | Alphabet Inc-cl A | +0.7% | -15.00% | 減碼 |
| 4 | DHR | Danaher CORP | +0.5% | +25.43% | 加碼 |
| 5 | SLB | Slb LTD | +0.5% | +53.16% | 加碼 |
| 6 | ISRG | Intuitive Surgical Inc | +0.5% | +0.89% | 加碼 |
| 7 | LIN | Linde plc | +0.4% | +79.16% | 加碼 |
| 8 | RRC | Range Resources CORP | +0.3% | +100.00% | 加碼 |
| 9 | GILD | Gilead Sciences Inc | +0.3% | +893.54% | 加碼 |
| 10 | BKNG | Booking Holdings Inc | +0.3% | +181.22% | 加碼 |
| 11 | LLY | Eli Lilly & Co | +0.2% | -12.20% | 減碼 |
| 12 | ABBV | Abbvie Inc | +0.1% | +8.97% | 加碼 |
| 13 | MSCI | Msci Inc | +0.1% | +70.22% | 加碼 |
| 14 | EXK | Exact Sciences CORP | +0.1% | -9.19% | 減碼 |
| 15 | FCX | Freeport-mcmoran Inc | +0.1% | -6.55% | 減碼 |
| 16 | AMD | Advanced Micro Devices | +0.1% | -17.52% | 減碼 |
| 17 | IDXX | Idexx Laboratories Inc | +0.1% | — | 不變 |
| 18 | GLD | Spdr Gold Shares | +0.1% | +10.49% | 加碼 |
| 19 | WFC | Wells Fargo & Co | +0.1% | -5.99% | 減碼 |
| 20 | GOOG | Alphabet Inc-cl C | -0.1% | -25.60% | 減碼 |
| 21 | MDLZ | Mondelez International Inc-a | -0.1% | -8.14% | 減碼 |
| 22 | PINS | Pinterest Inc- Class A | -0.1% | -17.12% | 減碼 |
| 23 | WM | Waste Management Inc | -0.1% | -20.98% | 減碼 |
| 24 | UBER | Uber Technologies Inc | -0.1% | -1.15% | 減碼 |
| 25 | MA | Mastercard Inc - A | -0.1% | -18.31% | 減碼 |
| 26 | AUR | Aurora Innovation Inc | -0.1% | — | 不變 |
| 27 | QQQ | Invesco Qqq Trust Series 1 | -0.1% | -22.62% | 減碼 |
| 28 | MCD | Mcdonald's CORP | -0.2% | -13.88% | 減碼 |
| 29 | COST | Costco Wholesale CORP | -0.2% | — | 不變 |
| 30 | TXN | Texas Instruments Inc | -0.2% | -29.21% | 減碼 |
| 31 | DHI | Dr Horton Inc | -0.2% | -23.32% | 減碼 |
| 32 | CTAS | Cintas CORP | -0.2% | — | 不變 |
| 33 | ZTS | Zoetis Inc | -0.2% | -7.58% | 減碼 |
| 34 | ETN | Eaton Corporation plc | -0.3% | -4.10% | 減碼 |
| 35 | PSKY | Paramount Skydance Cl B | -0.3% | — | 不變 |
| 36 | MRSH | Marsh & Mclennan Cos | -0.3% | -18.25% | 減碼 |
| 37 | OC | Owens Corning | -0.3% | -11.19% | 減碼 |
| 38 | UNH | Unitedhealth Group Inc | -0.3% | -15.23% | 減碼 |
| 39 | AMZN | Amazon.com Inc | -0.4% | -8.68% | 減碼 |
| 40 | EOG | Eog Resources Inc | -0.4% | -97.86% | 減碼 |
| 41 | NVDA | Nvidia CORP | -0.4% | -4.28% | 減碼 |
| 42 | CMG | Chipotle Mexican Grill Inc | -0.5% | -35.88% | 減碼 |
| 43 | META | Meta Platforms Inc-class A | -0.5% | -7.33% | 減碼 |
| 44 | TSM | Taiwan Semiconductor-sp Adr | -0.7% | -34.03% | 減碼 |
| 45 | MSFT | Microsoft CORP | -0.8% | -2.01% | 減碼 |
| 46 | PG | Procter & Gamble Co/the | -1.1% | -81.50% | 減碼 |
| 47 | TTE | TotalEnergies SE | — | NEW | 新建倉 |
| 48 | TRGP | Targa Resources CORP | — | NEW | 新建倉 |
| 49 | RXRX | Recursion Pharmaceuticals-a | — | EXIT | 清倉 |
| 50 | PICK | Ishares Msci Global Metals & | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Bank Pictet & Cie 在 Q4 2025 季度的美股持倉總市值約為 US$51.2億，共申報了 194 個公開持股部位。
在 Q4 2025 季度，Bank Pictet & Cie 按市值排列的前三大核心持股分別為：MSFT (8.7%)、AMZN (8.4%)、NVDA (8.4%)。其中最大持股部位 MSFT 佔據整體投資組合約 8.7% 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
TTE
市值: US$4718.6萬
本季最大獲利了結 / 清倉標的
RXRX
前期市值: US$795.4萬
在 Q4 2025 季度中，Bank Pictet & Cie 共進行了 45 項持倉異動，包含新建倉 3 個部位、加碼 12 個部位、減碼 29 個部位以及清倉 1 個部位。 其中最大新建倉標的為 TTE。 本季清倉部位包含 RXRX。
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。