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: 0000949012
申報總市值
US$25.5億
US$25.5億
261 檔
16.8%
在 Q4 2025 申報期間，Berkshire Asset Management Llc/pa（CIK: 0000949012）向美國 SEC 提交的 Form 13F 報告顯示，其追蹤之股票投資組合總市值達 US$25.5億，共持有 261 個公開申報部位。
從 Q4 2025 申報觀察，Berkshire Asset Management Llc/pa 採取防禦導向的調倉策略，本季減碼 8 檔個股並出清 22 檔部位，顯示機構在該時期進行風險控制與流動性回收。
在資產配置集中度方面，Berkshire Asset Management Llc/pa 的前 5 大核心持股（包含 , MSFT, 等）合計佔整體申報市值的 16.8%，反映機構在主要關鍵部位上的權重分佈。
僅顯示前 200 大持股（共 261 檔）
| # | 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 | ✓ | 股票-其他 | 4.93% | — | — | ||
| 2 | MSFT | Microsoft CORP | 股票-科技 | 3.90% | -0.22% | -1.70% | |
| 3 | ✓ | 股票-其他 | 3.78% | — | — | ||
| 4 | AAPL | Apple Inc | 股票-科技 | 3.26% | +0.13% | -2.33% | |
| 5 | ✓ | 股票-其他 | 2.93% | — | — | ||
| 6 | BAC | Bank Of America CORP | 股票-金融 | 2.83% | +0.18% | -1.53% | |
| 7 | CVX | Chevron CORP | 股票-能源 | 2.62% | -0.93% | -1.48% | |
| 8 | NUE | Nucor CORP | 股票-原物料 | 2.57% | +0.55% | -0.60% | |
| 9 | ✓ | 股票-其他 | 2.51% | — | — | ||
| 10 | JNJ | Johnson & Johnson | 股票-醫療保健 | 2.28% | -0.13% | -0.96% | |
| 11 | ✓ | 股票-其他 | 2.27% | — | — | ||
| 12 | QCOM | Qualcomm Inc | 股票-科技 | 2.25% | +0.53% | -1.24% | |
| 13 | ✓ | 股票-其他 | 2.13% | — | — | ||
| 14 | NSC | Norfolk Southern CORP | 股票-工業 | 1.99% | +0.01% | -0.63% | |
| 15 | WMT | Walmart Inc | 股票-非循環性消費 | 1.91% | -0.34% | +0.29% | |
| 16 | EMR | Emerson Electric Co | 股票-工業 | 1.84% | — | -12.17% | |
| 17 | PNC | Pnc Financial Services Group | 股票-金融 | 1.82% | +0.15% | -0.42% | |
| 18 | HON | Honeywell International Inc | 股票-工業 | 1.78% | -2.09% | EXIT | |
| 19 | SCHW | Schwab (charles) CORP | 股票-金融 | 1.78% | -0.14% | -1.35% | |
| 20 | LMT | Lockheed Martin CORP | 股票-工業 | 1.77% | -0.50% | -3.62% | |
| 21 | ✓ | 股票-其他 | 1.76% | — | — | ||
| 22 | ✓ | 股票-其他 | 1.75% | — | — | ||
| 23 | MCD | Mcdonald's CORP | 股票-循環性消費 | 1.72% | -0.26% | -0.85% | |
| 24 | ✓ | 股票-其他 | 1.71% | — | — | ||
| 25 | ABT | Abbott Laboratories | 股票-醫療保健 | 1.66% | -0.23% | -1.43% | |
| 26 | LOW | Lowe's Cos Inc | 股票-循環性消費 | 1.60% | -0.21% | -0.58% | |
| 27 | ✓ | 股票-其他 | 1.47% | — | — | ||
| 28 | DE | Deere & Co | 股票-工業 | 1.46% | +0.07% | +1.01% | |
| 29 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 1.42% | -0.09% | -3.52% | |
| 30 | BMY | Bristol-myers Squibb Co | 股票-醫療保健 | 1.38% | -0.19% | +7.04% | |
| 31 | LEN | Lennar Corp-a | 股票-循環性消費 | 1.36% | -0.04% | -0.49% | |
| 32 | MDLZ | Mondelez International Inc-a | 股票-非循環性消費 | 1.33% | -0.11% | -4.64% | |
| 33 | ✓ | 股票-其他 | 1.22% | — | — | ||
| 34 | HSY | Hershey Co/the | 股票-非循環性消費 | 1.17% | -0.28% | -1.19% | |
| 35 | ✓ | 股票-其他 | 1.16% | — | — | ||
| 36 | AOS | Smith (a.o.) CORP | 股票-工業 | 1.14% | -0.11% | +0.05% | |
| 37 | SCHF | Schwab Intl Equity ETF | ETF-其他 | 1.14% | +0.09% | +2.83% | |
| 38 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.10% | -0.23% | -0.42% | |
| 39 | WFC | Wells Fargo & Co | 股票-金融 | 0.97% | -0.04% | -0.23% | |
| 40 | ✓ | 股票-其他 | 0.93% | — | — | ||
| 41 | SCHM | Schwab US Mid Cap ETF | ETF-其他 | 0.90% | +0.11% | +1.92% | |
| 42 | VEU | Vanguard Ftse All-world Ex-u | ETF-其他 | 0.82% | +0.03% | +1.05% | |
| 43 | GIS | General Mills Inc | 股票-非循環性消費 | 0.82% | -0.54% | -3.79% | |
| 44 | VO | Vanguard Mid-cap ETF | ETF-其他 | 0.81% | +0.02% | -0.26% | |
| 45 | PHM | Pultegroup Inc | 股票-循環性消費 | 0.70% | +0.03% | -1.66% | |
| 46 | VB | Vanguard Small-cap ETF | ETF-其他 | 0.64% | +0.03% | -27.10% | |
| 47 | SCHG | Schwab US Large-cap Growth | ETF-其他 | 0.59% | +0.03% | -7.60% | |
| 48 | ✓ | 股票-其他 | 0.52% | — | — | ||
| 49 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.44% | -0.04% | -0.74% | |
| 50 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.42% | -0.04% | -1.84% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | NUE | Nucor CORP | +0.5% | -0.60% | 減碼 |
| 2 | BMY | Bristol-myers Squibb Co | +0.3% | +7.04% | 加碼 |
| 3 | JNJ | Johnson & Johnson | +0.3% | -0.96% | 減碼 |
| 4 | HON | Honeywell International Inc | -0.1% | -3.17% | 減碼 |
| 5 | EMR | Emerson Electric Co | -0.2% | -12.17% | 減碼 |
| 6 | VB | Vanguard Small-cap ETF | -0.2% | -27.10% | 減碼 |
| 7 | MSFT | Microsoft CORP | -0.2% | -1.70% | 減碼 |
| 8 | MDLZ | Mondelez International Inc-a | -0.2% | -4.64% | 減碼 |
| 9 | LEN | Lennar Corp-a | -0.3% | -0.49% | 減碼 |
| 10 | ✓ | — | NEW | 新建倉 | |
| 11 | JPM | Jpmorgan Chase & Co | — | EXIT | 清倉 |
| 12 | ABBV | Abbvie Inc | — | EXIT | 清倉 |
| 13 | ✓ | — | NEW | 新建倉 | |
| 14 | ✓ | — | NEW | 新建倉 | |
| 15 | CSCO | Cisco Systems Inc | — | EXIT | 清倉 |
| 16 | ✓ | — | NEW | 新建倉 | |
| 17 | TEL | TE Connectivity plc | — | EXIT | 清倉 |
| 18 | ✓ | — | NEW | 新建倉 | |
| 19 | WM | Waste Management Inc | — | EXIT | 清倉 |
| 20 | MTB | M & T Bank CORP | — | EXIT | 清倉 |
| 21 | ✓ | — | NEW | 新建倉 | |
| 22 | DELL | Dell Technologies -c | — | EXIT | 清倉 |
| 23 | PPL | Ppl CORP | — | EXIT | 清倉 |
| 24 | ✓ | — | NEW | 新建倉 | |
| 25 | ✓ | — | NEW | 新建倉 | |
| 26 | ✓ | — | NEW | 新建倉 | |
| 27 | CB | Chubb Limited | — | EXIT | 清倉 |
| 28 | KMI | Kinder Morgan, Inc. | — | EXIT | 清倉 |
| 29 | ✓ | — | NEW | 新建倉 | |
| 30 | EOG | Eog Resources Inc | — | EXIT | 清倉 |
| 31 | ✓ | — | NEW | 新建倉 | |
| 32 | ✓ | — | NEW | 新建倉 | |
| 33 | WPC | Wp Carey Inc | — | EXIT | 清倉 |
| 34 | ✓ | — | NEW | 新建倉 | |
| 35 | SPSM | Ss Spdr P S&p 600 Small Cap | — | EXIT | 清倉 |
| 36 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | EXIT | 清倉 |
| 37 | ✓ | — | NEW | 新建倉 | |
| 38 | SGOV | Ishares 0-3 Month Treasury B | — | EXIT | 清倉 |
| 39 | COP | Conocophillips | — | EXIT | 清倉 |
| 40 | ✓ | — | NEW | 新建倉 | |
| 41 | SPTI | Ss Spdr P Int Term Tsy ETF | — | EXIT | 清倉 |
| 42 | ✓ | — | NEW | 新建倉 | |
| 43 | AVGO | Broadcom Inc | — | EXIT | 清倉 |
| 44 | ✓ | — | NEW | 新建倉 | |
| 45 | ORCL | Oracle CORP | — | EXIT | 清倉 |
| 46 | ✓ | — | NEW | 新建倉 | |
| 47 | MDT | Medtronic plc | — | EXIT | 清倉 |
| 48 | GOOG | Alphabet Inc-cl C | — | EXIT | 清倉 |
| 49 | SPTS | Ss Spdr P St Term Tsy ETF | — | EXIT | 清倉 |
| 50 | ✓ | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Berkshire Asset Management Llc/pa 在 Q4 2025 季度的美股持倉總市值約為 US$25.5億，共申報了 261 個公開持股部位。
在 Q4 2025 季度，Berkshire Asset Management Llc/pa 按市值排列的前三大核心持股分別為： (4.9%)、MSFT (3.9%)、 (3.8%)。其中最大持股部位 佔據整體投資組合約 4.9% 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
市值: US$1.1億
本季最大獲利了結 / 清倉標的
JPM
前期市值: US$1.1億
在 Q4 2025 季度中，Berkshire Asset Management Llc/pa 共進行了 50 項持倉異動，包含新建倉 19 個部位、加碼 1 個部位、減碼 8 個部位以及清倉 22 個部位。 其中最大新建倉標的為 。 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。