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: 0000931097
申報總市值
US$12.9億
US$12.9億
89 檔
14.4%
根據最新整理的 13F 季度數據集，Ccm Investment Advisers LLC 於 Q4 2025 結束時的管理資產規模為 US$12.9億。該機構在本季度申報了 89 檔美股持倉，呈現出該時期的主要投資地圖。
Ccm Investment Advisers LLC 在 Q4 2025 進行了結構性的板塊輪動與部位換股。在開立 5 個全新部位及加碼 34 檔持股的同時，亦同步清倉 9 檔並減碼 38 檔標的。
檢視投資組合結構，前 5 大主力部位（包含 , , AVGO）占據了總市值的 14.4%，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 | ✓ | 股票-其他 | 4.10% | — | -6.91% | ||
| 2 | ✓ | 股票-其他 | 3.80% | — | -2.00% | ||
| 3 | AVGO | Broadcom Inc | 股票-科技 | 3.33% | -0.32% | -8.07% | |
| 4 | AAPL | Apple Inc | 股票-科技 | 3.28% | -0.18% | -2.40% | |
| 5 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.26% | -0.10% | +2.21% | |
| 6 | MSFT | Microsoft CORP | 股票-科技 | 2.96% | -0.23% | -1.65% | |
| 7 | JBL | Jabil Inc | 股票-科技 | 2.87% | +0.16% | -1.76% | |
| 8 | CAT | Caterpillar Inc | 股票-工業 | 2.82% | +0.30% | -6.98% | |
| 9 | ✓ | 股票-其他 | 2.70% | — | -11.82% | ||
| 10 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.46% | -0.35% | +2.82% | |
| 11 | JPM | Jpmorgan Chase & Co | 股票-金融 | 2.34% | -0.18% | -0.30% | |
| 12 | AMAT | Applied Materials Inc | 股票-科技 | 2.27% | +1.61% | -10.37% | |
| 13 | CSCO | Cisco Systems Inc | 股票-科技 | 2.18% | +0.40% | -6.96% | |
| 14 | WMT | Walmart Inc | 股票-非循環性消費 | 2.16% | -0.57% | -0.45% | |
| 15 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 2.10% | -0.10% | +1.54% | |
| 16 | HD | Home Depot Inc | 股票-循環性消費 | 1.96% | +0.02% | +6.32% | |
| 17 | ✓ | 股票-其他 | 1.95% | — | +970.79% | ||
| 18 | ETN | Eaton Corporation plc | 股票-工業 | 1.88% | -0.04% | +0.34% | |
| 19 | ✓ | 股票-其他 | 1.82% | — | +0.09% | ||
| 20 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.76% | +0.17% | -2.29% | |
| 21 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 1.74% | -0.19% | +5.98% | |
| 22 | ✓ | 股票-其他 | 1.74% | — | +0.84% | ||
| 23 | CRWD | Crowdstrike Holdings Inc - A | 股票-科技 | 1.69% | +0.80% | -2.38% | |
| 24 | DAL | Delta Air Lines Inc | 股票-工業 | 1.64% | -0.51% | -4.01% | |
| 25 | BAC | Bank Of America CORP | 股票-金融 | 1.61% | -0.62% | +1.51% | |
| 26 | ✓ | 股票-其他 | 1.59% | — | +3.34% | ||
| 27 | ✓ | 股票-其他 | 1.59% | — | -1.53% | ||
| 28 | ✓ | 股票-其他 | 1.54% | — | -2.57% | ||
| 29 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.54% | -0.19% | -7.24% | |
| 30 | ✓ | 股票-其他 | 1.53% | — | +4.45% | ||
| 31 | ✓ | 股票-其他 | 1.50% | — | -12.63% | ||
| 32 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.48% | -0.43% | -0.14% | |
| 33 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 1.46% | -0.17% | +1.76% | |
| 34 | AMD | Advanced Micro Devices | 股票-科技 | 1.45% | +1.29% | +2.47% | |
| 35 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 1.42% | -0.02% | +4.59% | |
| 36 | KLAC | Kla CORP | 股票-科技 | 1.42% | +1.14% | +9.13% | |
| 37 | SO | Southern Co/the | 股票-公用事業 | 1.36% | -0.24% | +10.48% | |
| 38 | FE | Firstenergy CORP | 股票-公用事業 | 1.30% | -0.73% | +2.47% | |
| 39 | LMT | Lockheed Martin CORP | 股票-工業 | 1.27% | -0.24% | +15.68% | |
| 40 | SHW | Sherwin-williams Co/the | 股票-原物料 | 1.25% | -0.04% | +1.70% | |
| 41 | ABT | Abbott Laboratories | 股票-醫療保健 | 1.23% | -0.23% | -1.09% | |
| 42 | ✓ | 股票-其他 | 1.19% | — | +0.55% | ||
| 43 | PSX | Phillips 66 | 股票-能源 | 1.17% | -0.60% | +0.52% | |
| 44 | ✓ | 股票-其他 | 1.16% | — | +3.89% | ||
| 45 | ✓ | 股票-其他 | 1.14% | — | -7.28% | ||
| 46 | SNPS | Synopsys Inc | 股票-科技 | 1.13% | +0.22% | +30.04% | |
| 47 | MDT | Medtronic plc | 股票-醫療保健 | 1.12% | -0.15% | -1.71% | |
| 48 | DIS | Walt Disney Co/the | 股票-通訊服務 | 1.11% | -0.08% | +5.66% | |
| 49 | ✓ | 股票-其他 | 1.09% | — | +2.43% | ||
| 50 | CVX | Chevron CORP | 股票-能源 | 1.08% | -0.48% | +0.94% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ✓ | +0.6% | -6.91% | 減碼 | |
| 2 | LLY | Eli Lilly & Co | +0.4% | -2.29% | 減碼 |
| 3 | AMD | Advanced Micro Devices | +0.4% | +2.47% | 加碼 |
| 4 | FCX | Freeport-mcmoran Inc | +0.3% | +1.76% | 加碼 |
| 5 | ✓ | +0.2% | -2.57% | 減碼 | |
| 6 | KLAC | Kla CORP | +0.2% | +9.13% | 加碼 |
| 7 | CAT | Caterpillar Inc | +0.2% | -6.98% | 減碼 |
| 8 | DAL | Delta Air Lines Inc | +0.2% | -4.01% | 減碼 |
| 9 | AMAT | Applied Materials Inc | +0.2% | -10.37% | 減碼 |
| 10 | SNPS | Synopsys Inc | +0.2% | +30.04% | 加碼 |
| 11 | ✓ | +0.2% | +0.84% | 加碼 | |
| 12 | ✓ | +0.2% | -12.63% | 減碼 | |
| 13 | ✓ | +0.2% | +4.45% | 加碼 | |
| 14 | MPWR | Monolithic Power Systems Inc | +0.2% | +43.75% | 加碼 |
| 15 | AMZN | Amazon.com Inc | +0.1% | +2.21% | 加碼 |
| 16 | LRCX | Lam Research CORP | +0.1% | -1.43% | 減碼 |
| 17 | TMO | Thermo Fisher Scientific Inc | +0.1% | -7.24% | 減碼 |
| 18 | LMT | Lockheed Martin CORP | +0.1% | +15.68% | 加碼 |
| 19 | ✓ | +0.1% | +2.43% | 加碼 | |
| 20 | WMT | Walmart Inc | +0.1% | -0.45% | 減碼 |
| 21 | BAC | Bank Of America CORP | +0.1% | +1.51% | 加碼 |
| 22 | BRK-B | Berkshire Hathaway Inc-cl B | +0.1% | +5.98% | 加碼 |
| 23 | ✓ | +0.1% | +3.34% | 加碼 | |
| 24 | ✓ | +0.1% | -7.28% | 減碼 | |
| 25 | AAPL | Apple Inc | 0% | -2.40% | 減碼 |
| 26 | CSCO | Cisco Systems Inc | 0% | -6.96% | 減碼 |
| 27 | DIS | Walt Disney Co/the | 0% | +5.66% | 加碼 |
| 28 | GOOG | Alphabet Inc-cl C | 0% | +6.47% | 加碼 |
| 29 | JBL | Jabil Inc | 0% | -1.76% | 減碼 |
| 30 | IVV | Ishares Core S&p 500 ETF | 0% | +16.71% | 加碼 |
| 31 | AZNN | Astrazeneca Plc-spons Adr | 0% | -1.74% | 減碼 |
| 32 | ✓ | — | -11.82% | 減碼 | |
| 33 | TJX | Tjx Companies Inc | — | -2.97% | 減碼 |
| 34 | VIG | Vanguard Dividend Apprec ETF | — | -7.60% | 減碼 |
| 35 | LOW | Lowe's Cos Inc | — | — | 不變 |
| 36 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | +1.66% | 加碼 |
| 37 | ✓ | — | +6.10% | 加碼 | |
| 38 | USPRX | Victory 500 Index-rwrd | — | +3.48% | 加碼 |
| 39 | ✓ | — | — | 不變 | |
| 40 | ✓ | — | -3.23% | 減碼 | |
| 41 | ALL | Allstate CORP | — | — | 不變 |
| 42 | USB 4 PERP M債券 | US Bancorp | — | — | 不變 |
| 43 | BAC 4.375 PERP NN債券 | Bank Of America CORP | — | — | 不變 |
| 44 | SNVXX | Schwab Govt Mny Fnd-inv | — | +1.88% | 加碼 |
| 45 | GD | General Dynamics CORP | — | — | 不變 |
| 46 | KO | Coca-cola Co/the | — | -4.31% | 減碼 |
| 47 | ✓ | — | — | 不變 | |
| 48 | MCD | Mcdonald's CORP | — | — | 不變 |
| 49 | APO V7.625 09-15-53債券 | Apollo Global Management | — | — | 不變 |
| 50 | PEP | Pepsico Inc | 0% | -0.14% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Ccm Investment Advisers LLC 在 Q4 2025 季度的美股持倉總市值約為 US$12.9億，共申報了 89 個公開持股部位。
在 Q4 2025 季度，Ccm Investment Advisers LLC 按市值排列的前三大核心持股分別為： (4.1%)、 (3.8%)、AVGO (3.3%)。其中最大持股部位 佔據整體投資組合約 4.1% 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
STT
市值: US$991.8萬
本季最大獲利了結 / 清倉標的
VSIGX
前期市值: US$54.1萬
在 Q4 2025 季度中，Ccm Investment Advisers LLC 共進行了 86 項持倉異動，包含新建倉 5 個部位、加碼 34 個部位、減碼 38 個部位以及清倉 9 個部位。 其中最大新建倉標的為 STT。 本季清倉部位包含 VSIGX。
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。