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: 0001081019
申報總市值
US$7820.1億
US$7820.1億
3054 檔
3.2%
在 Q4 2025 申報期間，California State Teachers Retirement System（CIK: 0001081019）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$7820.1億，共持有 3054 個公開申報部位。
從 Q4 2025 申報觀察，California State Teachers Retirement System 採取防禦導向的調倉策略，本季減碼 156 檔個股並出清 4 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 NVDA, AAPL, MSFT）累計市值佔比達 3.2%，是驅動 California State Teachers Retirement System 該季度整體投資組合績效表現的核心支柱。
僅顯示前 200 大持股（共 3054 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 | NVDA | Nvidia CORP | 股票-科技 | 7.01% | -2.29% | -1.99% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 6.25% | -3.13% | -2.24% | |
| 3 | MSFT | Microsoft CORP | 股票-科技 | 5.31% | -2.83% | -1.55% | |
| 4 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.44% | -1.33% | -1.18% | |
| 5 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.84% | -1.57% | -0.74% | |
| 6 | AVGO | Broadcom Inc | 股票-科技 | 2.41% | -1.36% | -1.22% | |
| 7 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 2.35% | -1.31% | -3.27% | |
| 8 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.22% | -1.56% | -1.65% | |
| 9 | IVV | Ishares Core S&p 500 ETF | ETF-大型股與成長 | 2.03% | -1.60% | — | |
| 10 | TSLA | Tesla Inc | 股票-循環性消費 | 1.97% | -1.13% | -3.95% | |
| 11 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.37% | -0.77% | -2.59% | |
| 12 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.34% | -1.02% | -1.87% | |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 1.07% | -0.78% | -0.45% | |
| 14 | V | Visa Inc-class A Shares | 股票-金融 | 0.93% | -0.49% | -2.12% | |
| 15 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.79% | -0.49% | -1.73% | |
| 16 | WMT | Walmart Inc | 股票-非循環性消費 | 0.76% | -0.03% | -1.79% | |
| 17 | MA | Mastercard Inc - A | 股票-金融 | 0.76% | -0.52% | -2.05% | |
| 18 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.63% | -0.27% | -1.78% | |
| 19 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.62% | -0.11% | -1.09% | |
| 20 | NFLX | Netflix Inc | 股票-通訊服務 | 0.62% | +0.16% | +884.14% | |
| 21 | XOM | Exxon Mobil CORP | 股票-能源 | 0.61% | -0.23% | -1.97% | |
| 22 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.61% | -0.63% | -1.16% | |
| 23 | BAC | Bank Of America CORP | 股票-金融 | 0.60% | +0.78% | -2.91% | |
| 24 | AMD | Advanced Micro Devices | 股票-科技 | 0.54% | -0.21% | -1.42% | |
| 25 | HD | Home Depot Inc | 股票-循環性消費 | 0.53% | -0.33% | -1.77% | |
| 26 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.53% | -0.10% | -1.84% | |
| 27 | ORCL | Oracle CORP | 股票-科技 | 0.52% | -0.07% | -0.70% | |
| 28 | GE | General Electric | 股票-工業 | 0.51% | -0.28% | -1.92% | |
| 29 | MU | Micron Technology Inc | 股票-科技 | 0.50% | -0.39% | -0.95% | |
| 30 | CSCO | Cisco Systems Inc | 股票-科技 | 0.48% | +0.28% | -2.40% | |
| 31 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.47% | +0.24% | -1.02% | |
| 32 | WFC | Wells Fargo & Co | 股票-金融 | 0.46% | +0.19% | -2.11% | |
| 33 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.46% | -0.22% | -1.93% | |
| 34 | IBM | Intl Business Machines CORP | 股票-科技 | 0.43% | -0.18% | -1.77% | |
| 35 | CAT | Caterpillar Inc | 股票-工業 | 0.42% | -0.44% | -1.40% | |
| 36 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.42% | -0.01% | -2.81% | |
| 37 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.41% | -0.35% | -2.49% | |
| 38 | CRM | Salesforce Inc | 股票-科技 | 0.39% | -0.13% | -1.84% | |
| 39 | RTX | Rtx CORP | 股票-工業 | 0.39% | -0.16% | -1.36% | |
| 40 | CVX | Chevron CORP | 股票-能源 | 0.35% | -0.16% | -2.39% | |
| 41 | MCD | Mcdonald's CORP | 股票-循環性消費 | 0.35% | -0.23% | -1.01% | |
| 42 | ABT | Abbott Laboratories | 股票-醫療保健 | 0.34% | +0.06% | -1.12% | |
| 43 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.34% | -0.23% | -2.28% | |
| 44 | C | Citigroup Inc | 股票-金融 | 0.34% | — | -1.80% | |
| 45 | LRCX | Lam Research CORP | 股票-科技 | 0.34% | -0.19% | -3.73% | |
| 46 | MS | Morgan Stanley | 股票-金融 | 0.33% | -0.08% | -0.35% | |
| 47 | AMAT | Applied Materials Inc | 股票-科技 | 0.32% | -0.29% | -2.71% | |
| 48 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.32% | +0.07% | -1.25% | |
| 49 | AXP | American Express Co | 股票-金融 | 0.32% | -0.16% | -1.47% | |
| 50 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 0.32% | -0.19% | -1.83% |
| # | 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 | +0.6% | -0.74% | 減碼 |
| 2 | GOOG | Alphabet Inc-cl C | +0.4% | -3.27% | 減碼 |
| 3 | LLY | Eli Lilly & Co | +0.4% | -1.87% | 減碼 |
| 4 | MU | Micron Technology Inc | +0.2% | -0.95% | 減碼 |
| 5 | AMD | Advanced Micro Devices | +0.1% | -1.42% | 減碼 |
| 6 | AAPL | Apple Inc | +0.1% | -2.24% | 減碼 |
| 7 | MRK | Merck & Co. Inc. | +0.1% | -2.81% | 減碼 |
| 8 | CAT | Caterpillar Inc | +0.1% | -1.40% | 減碼 |
| 9 | LRCX | Lam Research CORP | +0.1% | -3.73% | 減碼 |
| 10 | ISRG | Intuitive Surgical Inc | +0.1% | -1.83% | 減碼 |
| 11 | AMZN | Amazon.com Inc | +0.1% | -1.18% | 減碼 |
| 12 | JNJ | Johnson & Johnson | +0.1% | -1.73% | 減碼 |
| 13 | AMAT | Applied Materials Inc | +0.1% | -2.71% | 減碼 |
| 14 | TMO | Thermo Fisher Scientific Inc | 0% | -2.28% | 減碼 |
| 15 | CSCO | Cisco Systems Inc | 0% | -2.40% | 減碼 |
| 16 | WBD | Warner Bros Discovery Inc | 0% | -0.78% | 減碼 |
| 17 | AVGO | Broadcom Inc | 0% | -1.22% | 減碼 |
| 18 | C | Citigroup Inc | 0% | -1.80% | 減碼 |
| 19 | CRM | Salesforce Inc | 0% | -1.84% | 減碼 |
| 20 | AMGN | Amgen Inc | 0% | -1.96% | 減碼 |
| 21 | MS | Morgan Stanley | 0% | -0.35% | 減碼 |
| 22 | WDC | Western Digital CORP | 0% | +5.81% | 加碼 |
| 23 | REGN | Regeneron Pharmaceuticals | 0% | -2.55% | 減碼 |
| 24 | CIEN | Ciena CORP | 0% | +60.96% | 加碼 |
| 25 | GM | General Motors Co | 0% | -0.37% | 減碼 |
| 26 | WMT | Walmart Inc | 0% | -1.79% | 減碼 |
| 27 | WFC | Wells Fargo & Co | 0% | -2.11% | 減碼 |
| 28 | GS | Goldman Sachs Group Inc | 0% | -2.49% | 減碼 |
| 29 | RTX | Rtx CORP | 0% | -1.36% | 減碼 |
| 30 | BMY | Bristol-myers Squibb Co | 0% | -1.16% | 減碼 |
| 31 | INSM | Insmed Inc | 0% | +72.98% | 加碼 |
| 32 | AXP | American Express Co | 0% | -1.47% | 減碼 |
| 33 | INTC | Intel CORP | 0% | +1.60% | 加碼 |
| 34 | DHR | Danaher CORP | 0% | -2.23% | 減碼 |
| 35 | COF | Capital One Financial CORP | 0% | -1.89% | 減碼 |
| 36 | NEM | Newmont CORP | 0% | -2.07% | 減碼 |
| 37 | FIX | Comfort Systems USA Inc | 0% | +63.24% | 加碼 |
| 38 | KLAC | Kla CORP | 0% | -2.04% | 減碼 |
| 39 | RKT | Rocket Cos Inc-class A | 0% | +6586.16% | 加碼 |
| 40 | APH | Amphenol Corp-cl A | 0% | -0.59% | 減碼 |
| 41 | CMI | Cummins Inc | 0% | -1.39% | 減碼 |
| 42 | SNDK | Sandisk CORP | 0% | +2.15% | 加碼 |
| 43 | PLD | Prologis Inc | 0% | -1.73% | 減碼 |
| 44 | RKLB | Rocket Lab CORP | 0% | +0.50% | 加碼 |
| 45 | NTRA | Natera Inc | 0% | -0.40% | 減碼 |
| 46 | CVNA | Carvana Co | 0% | +5.80% | 加碼 |
| 47 | EXPE | Expedia Group Inc | 0% | -2.84% | 減碼 |
| 48 | MAR | Marriott International -cl A | 0% | -2.02% | 減碼 |
| 49 | XOM | Exxon Mobil CORP | 0% | -1.97% | 減碼 |
| 50 | PH | Parker Hannifin CORP | 0% | -1.65% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，California State Teachers Retirement System 在 Q4 2025 季度的美股持倉總市值約為 US$7820.1億，共申報了 3054 個公開持股部位。
在 Q4 2025 季度，California State Teachers Retirement System 按市值排列的前三大核心持股分別為：NVDA (7.0%)、AAPL (6.3%)、MSFT (5.3%)。其中最大持股部位 NVDA 佔據整體投資組合約 7.0% 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
IVV
市值: US$20.3億
本季最大獲利了結 / 清倉標的
OTF
前期市值: US$6170.7萬
在 Q4 2025 季度中，California State Teachers Retirement System 共進行了 200 項持倉異動，包含新建倉 5 個部位、加碼 35 個部位、減碼 156 個部位以及清倉 4 個部位。 其中最大新建倉標的為 IVV。 本季清倉部位包含 OTF。
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。