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: 0001426319
申報總市值
US$56.2億
US$56.2億
411 檔
20.7%
在 Q4 2025 申報期間，Cannell & Spears LLC（CIK: 0001426319）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$56.2億，共持有 411 個公開申報部位。
在 Q4 2025 期間，Cannell & Spears LLC 展現了靈活的資產再平衡步調，透過出清 5 檔弱勢或達到目標價部位，將資金轉置於 4 檔新建倉標的之中。
在資產配置集中度方面，Cannell & Spears LLC 的前 5 大核心持股（包含 MSFT, GOOG, AAPL 等）合計佔整體申報市值的 20.7%，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 411 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 | MSFT | Microsoft CORP | 股票-科技 | 6.76% | -0.46% | +0.62% | |
| 2 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 5.01% | -0.03% | +7.30% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 3.78% | +0.10% | -2.75% | |
| 4 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 3.19% | -0.12% | -0.25% | |
| 5 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.99% | +0.11% | +6.46% | |
| 6 | CB | Chubb Limited | 股票-金融 | 2.58% | -0.17% | +46.67% | |
| 7 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.29% | +0.17% | -3.36% | |
| 8 | BN | Brookfield CORP | 股票-金融 | 2.28% | +0.10% | +47.48% | |
| 9 | MRP | Millrose Properties | 股票-房地產 | 2.03% | -0.04% | +38.03% | |
| 10 | VRT | Vertiv Holdings Co-a | 股票-工業 | 1.81% | +0.14% | -4.48% | |
| 11 | ADI | Analog Devices Inc | 股票-科技 | 1.76% | -0.20% | +0.32% | |
| 12 | CRH | CRH plc | 股票-原物料 | 1.64% | -0.22% | +3.60% | |
| 13 | ORCL | Oracle CORP | 股票-科技 | 1.63% | -0.11% | -14.53% | |
| 14 | AEM | Agnico Eagle Mines LTD | 股票-原物料 | 1.61% | -0.32% | -9.05% | |
| 15 | UNP | Union Pacific CORP | 股票-工業 | 1.53% | -0.05% | +225.08% | |
| 16 | GIL | Gildan Activewear Inc | 股票-循環性消費 | 1.39% | -0.05% | -6.22% | |
| 17 | BEEX | THE Beehive ETF | ETF-其他 | 1.37% | — | +1.75% | |
| 18 | AVGO | Broadcom Inc | 股票-科技 | 1.33% | +0.50% | +33.65% | |
| 19 | NVDA | Nvidia CORP | 股票-科技 | 1.33% | +0.01% | -5.77% | |
| 20 | ABT | Abbott Laboratories | 股票-醫療保健 | 1.32% | +0.03% | +0.41% | |
| 21 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.31% | -0.02% | -8.76% | |
| 22 | REGN | Regeneron Pharmaceuticals | 股票-醫療保健 | 1.29% | -0.64% | +197.20% | |
| 23 | ABBV | Abbvie Inc | 股票-醫療保健 | 1.15% | +0.09% | -5.40% | |
| 24 | B | Barrick Mining CORP | 股票-原物料 | 1.14% | -0.10% | -24.74% | |
| 25 | DHR | Danaher CORP | 股票-醫療保健 | 1.10% | -0.10% | +5.87% | |
| 26 | WTM | White Mountains Insurance Group, Ltd. | 股票-金融 | 1.09% | -0.19% | -0.61% | |
| 27 | FTAI | FTAI Aviation Ltd. | 股票-工業 | 1.05% | +0.29% | +573.35% | |
| 28 | PWR | Quanta Services Inc | 股票-工業 | 0.98% | +0.07% | -1.18% | |
| 29 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.97% | +0.01% | +0.03% | |
| 30 | TJX | Tjx Companies Inc | 股票-循環性消費 | 0.93% | -0.16% | -1.98% | |
| 31 | ICE | Intercontinental Exchange In | 股票-金融 | 0.88% | -0.31% | +6.21% | |
| 32 | FIS | Fidelity National Info Serv | 股票-科技 | 0.84% | -0.20% | -0.56% | |
| 33 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.83% | -0.16% | -1.55% | |
| 34 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.79% | -0.08% | -0.04% | |
| 35 | LH | Labcorp Holdings Inc | 股票-醫療保健 | 0.74% | -0.04% | -0.64% | |
| 36 | AON | Aon plc | 股票-金融 | 0.73% | -0.09% | +2.53% | |
| 37 | PLD | Prologis Inc | 股票-房地產 | 0.70% | -0.12% | -7.31% | |
| 38 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.70% | -0.06% | -0.40% | |
| 39 | FNV | Franco-nevada CORP | 股票-原物料 | 0.69% | -0.19% | -0.28% | |
| 40 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.68% | -0.61% | +0.19% | |
| 41 | BNY | Bank Of New York Mellon CORP | 股票-金融 | 0.68% | +0.04% | -2.99% | |
| 42 | MLM | Martin Marietta Materials | 股票-原物料 | 0.61% | -0.41% | +293.81% | |
| 43 | FDX | Fedex CORP | 股票-工業 | 0.61% | -0.16% | -0.46% | |
| 44 | CVX | Chevron CORP | 股票-能源 | 0.61% | -0.23% | +5.91% | |
| 45 | BRK-A | Berkshire Hathaway Inc-cl A | 股票-其他 | 0.59% | -0.04% | -4.55% | |
| 46 | MDLZ | Mondelez International Inc-a | 股票-非循環性消費 | 0.59% | -0.08% | -6.91% | |
| 47 | LOW | Lowe's Cos Inc | 股票-循環性消費 | 0.57% | -0.08% | -0.69% | |
| 48 | HD | Home Depot Inc | 股票-循環性消費 | 0.57% | -0.02% | -0.02% | |
| 49 | RIVN 3.625 10-15-30債券 | Rivian Auto Inc | 債券 | 0.55% | +0.12% | — | |
| 50 | SHAK | Shake Shack Inc - Class A | 股票-循環性消費 | 0.54% | -0.77% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | +1.4% | +7.30% | 加碼 |
| 2 | UNP | Union Pacific CORP | +1% | +225.08% | 加碼 |
| 3 | CB | Chubb Limited | +1% | +46.67% | 加碼 |
| 4 | REGN | Regeneron Pharmaceuticals | +1% | +197.20% | 加碼 |
| 5 | FTAI | FTAI Aviation Ltd. | +0.9% | +573.35% | 加碼 |
| 6 | MLM | Martin Marietta Materials | +0.5% | +293.81% | 加碼 |
| 7 | GOOGL | Alphabet Inc-cl A | +0.4% | -3.36% | 減碼 |
| 8 | AVGO | Broadcom Inc | +0.4% | +33.65% | 加碼 |
| 9 | MRP | Millrose Properties | +0.4% | +38.03% | 加碼 |
| 10 | AMZN | Amazon.com Inc | +0.3% | +6.46% | 加碼 |
| 11 | RGLD | Royal Gold Inc | +0.3% | +3803.94% | 加碼 |
| 12 | WTM | White Mountains Insurance Group, Ltd. | +0.2% | -0.61% | 減碼 |
| 13 | DHR | Danaher CORP | +0.2% | +5.87% | 加碼 |
| 14 | ADI | Analog Devices Inc | +0.2% | +0.32% | 加碼 |
| 15 | TMO | Thermo Fisher Scientific Inc | +0.2% | +0.03% | 加碼 |
| 16 | MRK | Merck & Co. Inc. | +0.1% | +0.19% | 加碼 |
| 17 | NEM | Newmont CORP | +0.1% | +27.33% | 加碼 |
| 18 | AAPL | Apple Inc | +0.1% | -2.75% | 減碼 |
| 19 | ILMN | Illumina Inc | +0.1% | -8.84% | 減碼 |
| 20 | CRH | CRH plc | +0.1% | +3.60% | 加碼 |
| 21 | FDX | Fedex CORP | +0.1% | -0.46% | 減碼 |
| 22 | FNF | Fidelity National Financial | -0.1% | -23.40% | 減碼 |
| 23 | AL | Air Lease CORP | -0.1% | -44.12% | 減碼 |
| 24 | LH | Labcorp Holdings Inc | -0.1% | -0.64% | 減碼 |
| 25 | NOW | Servicenow Inc | -0.1% | +353.98% | 加碼 |
| 26 | XYL | Xylem Inc | -0.1% | -12.79% | 減碼 |
| 27 | MDLZ | Mondelez International Inc-a | -0.2% | -6.91% | 減碼 |
| 28 | SN | SharkNinja, Inc. | -0.2% | -64.40% | 減碼 |
| 29 | EQT | Eqt CORP | -0.2% | -29.66% | 減碼 |
| 30 | AEM | Agnico Eagle Mines LTD | -0.2% | -9.05% | 減碼 |
| 31 | SKT | Tanger Inc | -0.2% | -95.15% | 減碼 |
| 32 | INTC | Intel CORP | -0.3% | -65.38% | 減碼 |
| 33 | URBN | Urban Outfitters Inc | -0.3% | -85.05% | 減碼 |
| 34 | AGI | Alamos Gold Inc-class A | -0.4% | -48.30% | 減碼 |
| 35 | PKG | Packaging CORP Of America | -0.5% | -57.61% | 減碼 |
| 36 | MSFT | Microsoft CORP | -0.5% | +0.62% | 加碼 |
| 37 | TOL | Toll Brothers Inc | -0.6% | -82.89% | 減碼 |
| 38 | META | Meta Platforms Inc-class A | -0.8% | -84.27% | 減碼 |
| 39 | UBER | Uber Technologies Inc | -0.9% | -75.04% | 減碼 |
| 40 | AMRZ | Amrize Ltd | -1% | -97.10% | 減碼 |
| 41 | ORCL | Oracle CORP | -1.2% | -14.53% | 減碼 |
| 42 | PBI | Pitney Bowes Inc | — | EXIT | 清倉 |
| 43 | RIVN 3.625 10-15-30債券 | Rivian Auto Inc | — | NEW | 新建倉 |
| 44 | SHAK | Shake Shack Inc - Class A | — | NEW | 新建倉 |
| 45 | FISV | Fiserv Inc | — | EXIT | 清倉 |
| 46 | TXN | Texas Instruments Inc | — | NEW | 新建倉 |
| 47 | ELF | Elf Beauty Inc | — | NEW | 新建倉 |
| 48 | AYS1 | Sandstorm Gold LTD | — | EXIT | 清倉 |
| 49 | TMHC | Taylor Morrison Home CORP | — | EXIT | 清倉 |
| 50 | COUR | Coursera Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Cannell & Spears LLC 在 Q4 2025 季度的美股持倉總市值約為 US$56.2億，共申報了 411 個公開持股部位。
在 Q4 2025 季度，Cannell & Spears LLC 按市值排列的前三大核心持股分別為：MSFT (6.8%)、GOOG (5.0%)、AAPL (3.8%)。其中最大持股部位 MSFT 佔據整體投資組合約 6.8% 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
RIVN 3.625 10-15-30
市值: US$2924.9萬
本季最大獲利了結 / 清倉標的
PBI
前期市值: US$3838.9萬
在 Q4 2025 季度中，Cannell & Spears LLC 共進行了 50 項持倉異動，包含新建倉 4 個部位、加碼 18 個部位、減碼 23 個部位以及清倉 5 個部位。 其中最大新建倉標的為 RIVN 3.625 10-15-30。 本季清倉部位包含 PBI。
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。