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: 0000894300
申報總市值
US$4.8億
US$4.8億
39 檔
54.5%
Q4 2025 季度申報顯示，Bender Robert & Associates 揭露的美股組合總市值為 US$4.8億，涵蓋 39 個不同之權益投資部位。
在 Q4 2025，Bender Robert & Associates 展現出較為審慎的避險與獲利了結姿態。本季共減碼 34 個部位並完全清倉 7 檔持股，調降曝險的部位數量高於加碼動作。
檢視投資組合結構，前 5 大主力部位（包含 NVDA, AAPL, ISRG）占據了總市值的 54.5%，展現出該機構在 Q4 2025 的重點資金聚焦與風險分佈特徵。
| # | 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 | NVDA | Nvidia CORP | 股票-科技 | 18.41% | -0.50% | -3.99% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 16.11% | -0.50% | -2.00% | |
| 3 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 8.52% | -1.92% | -0.72% | |
| 4 | AMZN | Amazon.com Inc | 股票-循環性消費 | 6.26% | -0.08% | -0.67% | |
| 5 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 5.16% | -0.76% | -0.81% | |
| 6 | MELI | Mercadolibre Inc | 股票-循環性消費 | 5.02% | -0.71% | -0.98% | |
| 7 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 4.55% | +0.14% | -2.06% | |
| 8 | LLY | Eli Lilly & Co | 股票-醫療保健 | 4.01% | +0.53% | -1.48% | |
| 9 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 3.72% | +0.30% | -1.43% | |
| 10 | AMD | Advanced Micro Devices | 股票-科技 | 2.78% | +4.32% | -0.97% | |
| 11 | ULTA | Ulta Beauty Inc | 股票-循環性消費 | 2.75% | -0.66% | -2.14% | |
| 12 | VRTX | Vertex Pharmaceuticals Inc | 股票-醫療保健 | 2.49% | -0.08% | +0.51% | |
| 13 | CB | Chubb Limited | 股票-金融 | 2.12% | -0.23% | -0.55% | |
| 14 | PANW | Palo Alto Networks Inc | 股票-科技 | 2.10% | +1.82% | +1.28% | |
| 15 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 2.04% | -0.16% | -0.54% | |
| 16 | NOW | Servicenow Inc | 股票-科技 | 2.00% | -0.25% | +404.32% | |
| 17 | MSFT | Microsoft CORP | 股票-科技 | 2.00% | -0.20% | -0.52% | |
| 18 | LULU | Lululemon Athletica Inc | 股票-循環性消費 | 1.87% | -0.55% | -0.39% | |
| 19 | ADBE | Adobe Inc | 股票-科技 | 1.73% | -0.38% | -0.57% | |
| 20 | ILMN | Illumina Inc | 股票-醫療保健 | 1.08% | +0.27% | -0.02% | |
| 21 | GEV | GE Vernova Inc | 股票-工業 | 0.98% | +0.38% | +587.46% | |
| 22 | SBUX | Starbucks CORP | 股票-循環性消費 | 0.78% | -0.01% | -0.04% | |
| 23 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.69% | -0.09% | -1.85% | |
| 24 | HD | Home Depot Inc | 股票-循環性消費 | 0.62% | -0.04% | -2.19% | |
| 25 | NEE | Nextera Energy Inc | 股票-公用事業 | 0.59% | -0.13% | -1.82% | |
| 26 | CMG | Chipotle Mexican Grill Inc | 股票-循環性消費 | 0.33% | — | -67.68% | |
| 27 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.25% | -0.06% | -0.85% | |
| 28 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.14% | -0.02% | -5.32% | |
| 29 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.13% | +0.01% | -7.51% | |
| 30 | CAT | Caterpillar Inc | 股票-工業 | 0.11% | +0.04% | -7.32% | |
| 31 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.10% | -0.01% | -7.79% | |
| 32 | DE | Deere & Co | 股票-工業 | 0.09% | — | -7.13% | |
| 33 | ABT | Abbott Laboratories | 股票-醫療保健 | 0.08% | -0.02% | -23.62% | |
| 34 | ORCL | Oracle CORP | 股票-科技 | 0.08% | -0.01% | -2.48% | |
| 35 | NUE | Nucor CORP | 股票-原物料 | 0.08% | +0.02% | -5.77% | |
| 36 | GILD | Gilead Sciences Inc | 股票-醫療保健 | 0.07% | -0.02% | — | |
| 37 | V | Visa Inc-class A Shares | 股票-金融 | 0.06% | -0.06% | EXIT | |
| 38 | AVGO | Broadcom Inc | 股票-科技 | 0.05% | — | -3.23% | |
| 39 | DUK | Duke Energy CORP | 股票-公用事業 | 0.04% | — | -5.41% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ISRG | Intuitive Surgical Inc | +1.5% | -0.72% | 減碼 |
| 2 | LLY | Eli Lilly & Co | +1% | -1.48% | 減碼 |
| 3 | GEV | GE Vernova Inc | +0.8% | +587.46% | 加碼 |
| 4 | GOOG | Alphabet Inc-cl C | +0.8% | -2.06% | 減碼 |
| 5 | GOOGL | Alphabet Inc-cl A | +0.7% | -1.43% | 減碼 |
| 6 | AMD | Advanced Micro Devices | +0.6% | -0.97% | 減碼 |
| 7 | ILMN | Illumina Inc | +0.3% | -0.02% | 減碼 |
| 8 | VRTX | Vertex Pharmaceuticals Inc | +0.3% | +0.51% | 加碼 |
| 9 | LULU | Lululemon Athletica Inc | +0.2% | -0.39% | 減碼 |
| 10 | CB | Chubb Limited | +0.1% | -0.55% | 減碼 |
| 11 | ULTA | Ulta Beauty Inc | +0.1% | -2.14% | 減碼 |
| 12 | AAPL | Apple Inc | +0.1% | -2.00% | 減碼 |
| 13 | AMZN | Amazon.com Inc | 0% | -0.67% | 減碼 |
| 14 | MRK | Merck & Co. Inc. | 0% | -7.79% | 減碼 |
| 15 | NUE | Nucor CORP | 0% | -5.77% | 減碼 |
| 16 | NEE | Nextera Energy Inc | — | -1.82% | 減碼 |
| 17 | CAT | Caterpillar Inc | — | -7.32% | 減碼 |
| 18 | JNJ | Johnson & Johnson | — | -5.32% | 減碼 |
| 19 | GILD | Gilead Sciences Inc | — | — | 不變 |
| 20 | V | Visa Inc-class A Shares | 0% | -13.55% | 減碼 |
| 21 | DE | Deere & Co | 0% | -7.13% | 減碼 |
| 22 | DUK | Duke Energy CORP | 0% | -5.41% | 減碼 |
| 23 | AVGO | Broadcom Inc | 0% | -3.23% | 減碼 |
| 24 | ABBV | Abbvie Inc | 0% | -7.51% | 減碼 |
| 25 | COST | Costco Wholesale CORP | 0% | -0.85% | 減碼 |
| 26 | ORCL | Oracle CORP | 0% | -2.48% | 減碼 |
| 27 | ABT | Abbott Laboratories | 0% | -23.62% | 減碼 |
| 28 | SBUX | Starbucks CORP | 0% | -0.04% | 減碼 |
| 29 | DIS | Walt Disney Co/the | -0.1% | -1.85% | 減碼 |
| 30 | ADBE | Adobe Inc | -0.1% | -0.57% | 減碼 |
| 31 | BKNG | Booking Holdings Inc | -0.1% | -0.54% | 減碼 |
| 32 | HD | Home Depot Inc | -0.2% | -2.19% | 減碼 |
| 33 | MSFT | Microsoft CORP | -0.2% | -0.52% | 減碼 |
| 34 | PANW | Palo Alto Networks Inc | -0.3% | +1.28% | 加碼 |
| 35 | NOW | Servicenow Inc | -0.5% | +404.32% | 加碼 |
| 36 | CMG | Chipotle Mexican Grill Inc | -0.8% | -67.68% | 減碼 |
| 37 | META | Meta Platforms Inc-class A | -0.9% | -0.81% | 減碼 |
| 38 | MELI | Mercadolibre Inc | -1.1% | -0.98% | 減碼 |
| 39 | NVDA | Nvidia CORP | -1.6% | -3.99% | 減碼 |
| 40 | JPM | Jpmorgan Chase & Co | — | EXIT | 清倉 |
| 41 | URGN | UroGen Pharma Ltd. | — | EXIT | 清倉 |
| 42 | RSP | Invesco S&p 500 Equal Weight | — | EXIT | 清倉 |
| 43 | AEP | American Electric Power | — | EXIT | 清倉 |
| 44 | PLSE | Pulse Biosciences Inc | — | EXIT | 清倉 |
| 45 | BCRX | Biocryst Pharmaceuticals Inc | — | EXIT | 清倉 |
| 46 | EOLS | Evolus Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Bender Robert & Associates 在 Q4 2025 季度的美股持倉總市值約為 US$4.8億，共申報了 39 個公開持股部位。
在 Q4 2025 季度，Bender Robert & Associates 按市值排列的前三大核心持股分別為：NVDA (18.4%)、AAPL (16.1%)、ISRG (8.5%)。其中最大持股部位 NVDA 佔據整體投資組合約 18.4% 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。
本季最大獲利了結 / 清倉標的
JPM
前期市值: US$80.9萬
在 Q4 2025 季度中，Bender Robert & Associates 共進行了 45 項持倉異動，包含新建倉 0 個部位、加碼 4 個部位、減碼 34 個部位以及清倉 7 個部位。 本季清倉部位包含 JPM。
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。