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: 0000919079
申報總市值
US$1773.8億
US$1773.8億
1089 檔
29.1%
Q3 2025 季度申報顯示，California Public Employees Retirement System 揭露的美股組合總市值為 US$1773.8億，涵蓋 1089 個不同之權益投資部位。
California Public Employees Retirement System 在 Q3 2025 進行了結構性的板塊輪動與部位換股。在開立 2 個全新部位及加碼 88 檔持股的同時，亦同步清倉 4 檔並減碼 106 檔標的。
檢視投資組合結構，前 5 大主力部位（包含 VOO, NVDA, MSFT）占據了總市值的 29.1%，展現出該機構在 Q3 2025 的重點資金聚焦與風險分佈特徵。
僅顯示前 200 大持股（共 1089 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 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 9.52% | -0.48% | +0.29% | |
| 2 | NVDA | Nvidia CORP | 股票-科技 | 7.38% | -2.13% | +2.06% | |
| 3 | MSFT | Microsoft CORP | 股票-科技 | 6.01% | -1.67% | -11.07% | |
| 4 | AAPL | Apple Inc | 股票-科技 | 5.38% | -1.05% | -3.68% | |
| 5 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.61% | -0.40% | +9.71% | |
| 6 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.53% | -0.28% | +4.02% | |
| 7 | AVGO | Broadcom Inc | 股票-科技 | 2.29% | +0.13% | +3.78% | |
| 8 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.05% | -0.16% | -3.53% | |
| 9 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.65% | +0.04% | -4.88% | |
| 10 | TSLA | Tesla Inc | 股票-循環性消費 | 1.39% | +0.14% | +2.84% | |
| 11 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.25% | -0.10% | +19.57% | |
| 12 | JPHY | Jpmorgan Active H Yield ETF | ETF-其他 | 1.22% | -0.10% | — | |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 1.09% | -0.10% | -14.79% | |
| 14 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.88% | -0.06% | -4.14% | |
| 15 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.85% | -0.19% | +0.47% | |
| 16 | V | Visa Inc-class A Shares | 股票-金融 | 0.72% | — | -1.52% | |
| 17 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.69% | -0.01% | +1.41% | |
| 18 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.64% | -0.05% | +13.28% | |
| 19 | MA | Mastercard Inc - A | 股票-金融 | 0.64% | +0.03% | +0.83% | |
| 20 | BAC | Bank Of America CORP | 股票-金融 | 0.60% | -0.03% | +11.05% | |
| 21 | WMT | Walmart Inc | 股票-非循環性消費 | 0.58% | -0.01% | -14.38% | |
| 22 | IBM | Intl Business Machines CORP | 股票-科技 | 0.56% | -0.10% | -10.94% | |
| 23 | NFLX | Netflix Inc | 股票-通訊服務 | 0.56% | -0.14% | +2.12% | |
| 24 | XOM | Exxon Mobil CORP | 股票-能源 | 0.56% | -0.21% | +3.65% | |
| 25 | CSCO | Cisco Systems Inc | 股票-科技 | 0.51% | -0.11% | +2.14% | |
| 26 | ORCL | Oracle CORP | 股票-科技 | 0.51% | -0.04% | +9.16% | |
| 27 | HD | Home Depot Inc | 股票-循環性消費 | 0.51% | -0.06% | -2.42% | |
| 28 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.51% | +0.09% | +13.02% | |
| 29 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.50% | — | -20.71% | |
| 30 | RTX | Rtx CORP | 股票-工業 | 0.48% | -0.06% | +27.50% | |
| 31 | VZ | Verizon Communications Inc | 股票-通訊服務 | 0.46% | -0.16% | -16.64% | |
| 32 | GE | General Electric | 股票-工業 | 0.41% | +0.06% | +20.49% | |
| 33 | T | At&t Inc | 股票-通訊服務 | 0.41% | -0.10% | +23.23% | |
| 34 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.41% | -0.04% | +4.73% | |
| 35 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.40% | -0.07% | -8.58% | |
| 36 | MCD | Mcdonald's CORP | 股票-循環性消費 | 0.39% | -0.19% | -13.05% | |
| 37 | KLAC | Kla CORP | 股票-科技 | 0.39% | +0.46% | +34.26% | |
| 38 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.38% | -0.16% | -1.44% | |
| 39 | LRCX | Lam Research CORP | 股票-科技 | 0.36% | +0.12% | +108.65% | |
| 40 | CRM | Salesforce Inc | 股票-科技 | 0.36% | -0.11% | +26.51% | |
| 41 | AMGN | Amgen Inc | 股票-醫療保健 | 0.35% | -0.12% | -8.84% | |
| 42 | PEP | Pepsico Inc | 股票-非循環性消費 | 0.35% | -0.10% | -23.52% | |
| 43 | WFC | Wells Fargo & Co | 股票-金融 | 0.34% | -0.01% | +8.54% | |
| 44 | CVX | Chevron CORP | 股票-能源 | 0.33% | -0.10% | +25.63% | |
| 45 | ABT | Abbott Laboratories | 股票-醫療保健 | 0.32% | -0.17% | -13.00% | |
| 46 | INTU | Intuit Inc | 股票-科技 | 0.32% | -0.08% | -9.02% | |
| 47 | QCOM | Qualcomm Inc | 股票-科技 | 0.31% | -0.02% | +5.83% | |
| 48 | BRK-A | Berkshire Hathaway Inc-cl A | 股票-其他 | 0.30% | -0.03% | -0.88% | |
| 49 | MU | Micron Technology Inc | 股票-科技 | 0.30% | +0.99% | +70.16% | |
| 50 | APH | Amphenol Corp-cl A | 股票-科技 | 0.29% | +0.01% | -15.00% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | +3% | +2.06% | 加碼 |
| 2 | VOO | Vanguard S&p 500 ETF | +1.6% | +0.29% | 加碼 |
| 3 | MSFT | Microsoft CORP | +1% | -11.07% | 加碼 |
| 4 | AVGO | Broadcom Inc | +0.8% | +3.78% | 減碼 |
| 5 | GOOGL | Alphabet Inc-cl A | +0.6% | -3.53% | 加碼 |
| 6 | TSLA | Tesla Inc | +0.5% | +2.84% | 加碼 |
| 7 | GOOG | Alphabet Inc-cl C | +0.4% | -4.88% | 減碼 |
| 8 | AMZN | Amazon.com Inc | +0.4% | +4.02% | 加碼 |
| 9 | META | Meta Platforms Inc-class A | +0.4% | +9.71% | 加碼 |
| 10 | ORCL | Oracle CORP | +0.3% | +9.16% | 加碼 |
| 11 | JPM | Jpmorgan Chase & Co | +0.2% | +19.57% | 加碼 |
| 12 | PLTR | Palantir Technologies Inc-a | +0.2% | +4.73% | 加碼 |
| 13 | LRCX | Lam Research CORP | +0.2% | +108.65% | 加碼 |
| 14 | MU | Micron Technology Inc | +0.2% | +70.16% | 加碼 |
| 15 | KLAC | Kla CORP | +0.2% | +34.26% | 加碼 |
| 16 | RTX | Rtx CORP | +0.2% | +27.50% | 加碼 |
| 17 | GE | General Electric | +0.2% | +20.49% | 加碼 |
| 18 | BAC | Bank Of America CORP | +0.1% | +11.05% | 加碼 |
| 19 | MDT | Medtronic plc | +0.1% | +57.89% | 加碼 |
| 20 | APP | Applovin Corp-class A | +0.1% | +6.57% | 加碼 |
| 21 | PANW | Palo Alto Networks Inc | +0.1% | -10.78% | 加碼 |
| 22 | DELL | Dell Technologies -c | +0.1% | +169.98% | 加碼 |
| 23 | EA | Electronic Arts Inc | +0.1% | +0.77% | 加碼 |
| 24 | HOOD | Robinhood Markets Inc - A | +0.1% | +9.26% | 加碼 |
| 25 | NFLX | Netflix Inc | +0.1% | +2.12% | 加碼 |
| 26 | GS | Goldman Sachs Group Inc | +0.1% | +3.06% | 加碼 |
| 27 | GEV | GE Vernova Inc | +0.1% | +2.79% | 加碼 |
| 28 | ANET | Arista Networks Inc | +0.1% | +1.02% | 加碼 |
| 29 | NXPI | NXP Semiconductors N.V. | +0.1% | +12.35% | 加碼 |
| 30 | INTC | Intel CORP | +0.1% | +2.44% | 加碼 |
| 31 | CAT | Caterpillar Inc | +0.1% | +7.15% | 加碼 |
| 32 | COF | Capital One Financial CORP | +0.1% | -1.02% | 加碼 |
| 33 | PH | Parker Hannifin CORP | +0.1% | +51.30% | 加碼 |
| 34 | BA | Boeing Co/the | +0.1% | +4.67% | 加碼 |
| 35 | TER | Teradyne Inc | +0.1% | +161.19% | 加碼 |
| 36 | FERG | Ferguson Enterprises Inc | +0.1% | +77.64% | 加碼 |
| 37 | AMD | Advanced Micro Devices | +0.1% | -4.15% | 減碼 |
| 38 | UBER | Uber Technologies Inc | +0.1% | +3.65% | 加碼 |
| 39 | C | Citigroup Inc | +0.1% | +2.46% | 加碼 |
| 40 | ETN | Eaton Corporation plc | +0.1% | -14.38% | 加碼 |
| 41 | RBLX | Roblox CORP -class A | +0.1% | +10.03% | 加碼 |
| 42 | FLUT | Flutter Entertainment plc | +0.1% | +101.79% | 加碼 |
| 43 | VRT | Vertiv Holdings Co-a | +0.1% | +9.80% | 加碼 |
| 44 | APH | Amphenol Corp-cl A | 0% | -15.00% | 減碼 |
| 45 | AMAT | Applied Materials Inc | 0% | -31.26% | 加碼 |
| 46 | CEG | Constellation Energy | 0% | +5.28% | 加碼 |
| 47 | NEM | Newmont CORP | 0% | +6.87% | 加碼 |
| 48 | COIN | Coinbase Global Inc -class A | 0% | +8.11% | 加碼 |
| 49 | SNPS | Synopsys Inc | 0% | +62.01% | 加碼 |
| 50 | PWR | Quanta Services Inc | 0% | +6.97% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，California Public Employees Retirement System 在 Q3 2025 季度的美股持倉總市值約為 US$1773.8億，共申報了 1089 個公開持股部位。
在 Q3 2025 季度，California Public Employees Retirement System 按市值排列的前三大核心持股分別為：VOO (9.5%)、NVDA (7.4%)、MSFT (6.0%)。其中最大持股部位 VOO 佔據整體投資組合約 9.5% 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
JPHY
市值: US$20.4億
本季最大獲利了結 / 清倉標的
DFSEUR
前期市值: US$1.3億
在 Q3 2025 季度中，California Public Employees Retirement System 共進行了 200 項持倉異動，包含新建倉 2 個部位、加碼 88 個部位、減碼 106 個部位以及清倉 4 個部位。 其中最大新建倉標的為 JPHY。 本季清倉部位包含 DFSEUR。
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。