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: 0001863523
申報總市值
US$46.8億
US$46.8億
124 檔
13.8%
Q1 2025 季度申報顯示，CSM Advisors, LLC 揭露的美股組合總市值為 US$46.8億，涵蓋 124 個不同之權益投資部位。
CSM Advisors, LLC 在 Q1 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 119 檔，反映機構對當前市場環境或個別公司估值採取較為保留之看法。
檢視投資組合結構，前 5 大主力部位（包含 VUG, SPY, QQQ）占據了總市值的 13.8%，展現出該機構在 Q1 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 | VUG | Vanguard Growth ETF | ETF-其他 | 8.04% | +0.08% | -5.43% | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 7.90% | +0.51% | — | |
| 3 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 7.83% | +0.24% | -9.19% | |
| 4 | VTV | Vanguard Value ETF | ETF-其他 | 6.82% | -0.06% | -0.34% | |
| 5 | ORSIX | Nrth Sq Dyn Sm Cap-i | 股票-其他 | 4.57% | -1.05% | EXIT | |
| 6 | EZU | Ishares Msci Eurozone ETF | ETF-其他 | 4.19% | -0.04% | +35.58% | |
| 7 | XLF | Ss Financial Select Sector | ETF-其他 | 3.74% | — | — | |
| 8 | HDV | Ishares Core High Dividend E | ETF-其他 | 3.05% | — | — | |
| 9 | IEI | Ishares 3-7 Year Treasury Bo | ETF-政府公債 | 2.92% | -0.55% | EXIT | |
| 10 | ADVGX | North Sq Sel Sm Cap-i | 股票-其他 | 2.20% | -0.45% | EXIT | |
| 11 | AAPL | Apple Inc | 股票-科技 | 2.10% | +1.30% | -1.23% | |
| 12 | GDX | Vaneck Gold Miners ETF | ETF-避險與商品 | 2.00% | — | — | |
| 13 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-大型股與成長 | 1.84% | — | -2.39% | |
| 14 | MSFT | Microsoft CORP | 股票-科技 | 1.71% | -1.21% | -12.62% | |
| 15 | VTWO | Vanguard Russell 2000 ETF | ETF-中小型股 | 1.45% | -0.39% | -11.66% | |
| 16 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.36% | +1.08% | +21.58% | |
| 17 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.35% | +0.02% | -0.10% | |
| 18 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.25% | -0.05% | -2.24% | |
| 19 | TMUS | T-mobile US Inc | 股票-通訊服務 | 1.08% | — | -2.73% | |
| 20 | NKMCX | Nrth Sq Kennedy Microcap-i | 股票-其他 | 1.05% | -0.38% | EXIT | |
| 21 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.04% | +0.15% | -13.98% | |
| 22 | MPC | Marathon Petroleum CORP | 股票-能源 | 1.00% | -0.03% | -1.89% | |
| 23 | CVX | Chevron CORP | 股票-能源 | 0.97% | -0.27% | -1.52% | |
| 24 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-其他 | 0.96% | — | — | |
| 25 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.96% | +0.01% | -1.78% | |
| 26 | WMT | Walmart Inc | 股票-非循環性消費 | 0.92% | -0.04% | -2.06% | |
| 27 | PYPL | Paypal Holdings Inc | 股票-金融 | 0.86% | — | +12.07% | |
| 28 | EXPE | Expedia Group Inc | 股票-循環性消費 | 0.86% | -0.01% | -1.69% | |
| 29 | ORCL | Oracle CORP | 股票-科技 | 0.72% | -0.03% | -1.48% | |
| 30 | ABT | Abbott Laboratories | 股票-醫療保健 | 0.69% | -0.01% | -2.33% | |
| 31 | AVGO | Broadcom Inc | 股票-科技 | 0.69% | +0.02% | -15.38% | |
| 32 | NVDA | Nvidia CORP | 股票-科技 | 0.67% | +0.22% | +38.21% | |
| 33 | CRM | Salesforce Inc | 股票-科技 | 0.66% | +0.49% | +28.78% | |
| 34 | CB | Chubb Limited | 股票-金融 | 0.65% | -0.01% | -1.69% | |
| 35 | GLPI | Gaming And Leisure Propertie | 股票-房地產 | 0.65% | -0.01% | -1.93% | |
| 36 | HON | Honeywell International Inc | 股票-工業 | 0.65% | -0.01% | EXIT | |
| 37 | VEA | Vanguard Ftse Developed ETF | ETF-其他 | 0.64% | -0.05% | -0.46% | |
| 38 | AMTM | Amentum Holdings Inc | 股票-工業 | 0.63% | +0.06% | -0.16% | |
| 39 | DKS | Dick's Sporting Goods Inc | 股票-循環性消費 | 0.61% | — | -25.28% | |
| 40 | CG | Carlyle Group Inc/the | 股票-金融 | 0.59% | -0.32% | — | |
| 41 | DELL | Dell Technologies -c | 股票-科技 | 0.57% | +0.27% | -1.62% | |
| 42 | DFSEUR | Discover Financial Services | 股票-其他 | 0.57% | — | -1.60% | |
| 43 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 0.54% | -0.01% | -0.36% | |
| 44 | WFC | Wells Fargo & Co | 股票-金融 | 0.53% | -0.01% | -3.55% | |
| 45 | T | At&t Inc | 股票-通訊服務 | 0.53% | -0.02% | -4.56% | |
| 46 | SYY | Sysco CORP | 股票-非循環性消費 | 0.52% | — | -1.65% | |
| 47 | GTLS | Chart Industries Inc | 股票-工業 | 0.51% | — | — | |
| 48 | CNC | Centene CORP | 股票-醫療保健 | 0.49% | — | -2.39% | |
| 49 | VXUS | Vanguard Total Intl Stock | ETF-其他 | 0.49% | -0.07% | -16.88% | |
| 50 | VB | Vanguard Small-cap ETF | ETF-其他 | 0.49% | -0.11% | -13.60% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | VUG | Vanguard Growth ETF | +2.7% | -5.43% | 加碼 |
| 2 | VTV | Vanguard Value ETF | +2.3% | -0.34% | 加碼 |
| 3 | VTWO | Vanguard Russell 2000 ETF | +1.4% | -11.66% | 加碼 |
| 4 | AMZN | Amazon.com Inc | +1.3% | +21.58% | 加碼 |
| 5 | CVX | Chevron CORP | +0.5% | -1.52% | 加碼 |
| 6 | SYY | Sysco CORP | +0.5% | -1.65% | 加碼 |
| 7 | VB | Vanguard Small-cap ETF | +0.5% | -13.60% | 加碼 |
| 8 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.4% | — | 加碼 |
| 9 | GTLS | Chart Industries Inc | +0.4% | — | 加碼 |
| 10 | MRK | Merck & Co. Inc. | +0.3% | -1.50% | 加碼 |
| 11 | COR | Cencora Inc | +0.3% | -4.77% | 加碼 |
| 12 | MPC | Marathon Petroleum CORP | +0.3% | -1.89% | 減碼 |
| 13 | SPDW | Ste Str Spdr Pt Dw EU ETF | +0.2% | — | 加碼 |
| 14 | AXP | American Express Co | +0.2% | -4.92% | 加碼 |
| 15 | VIG | Vanguard Dividend Apprec ETF | +0.1% | — | 加碼 |
| 16 | AMGN | Amgen Inc | +0.1% | -2.94% | 加碼 |
| 17 | SPEM | State Street Sp Ptf Em ETF | +0.1% | — | 加碼 |
| 18 | NEE | Nextera Energy Inc | +0.1% | -3.67% | 加碼 |
| 19 | JPM | Jpmorgan Chase & Co | 0% | -2.24% | 減碼 |
| 20 | EXPE | Expedia Group Inc | 0% | -1.69% | 加碼 |
| 21 | SPSM | Ss Spdr P S&p 600 Small Cap | — | — | 加碼 |
| 22 | A | Agilent Technologies Inc | — | -3.90% | 加碼 |
| 23 | FCX | Freeport-mcmoran Inc | 0% | -3.36% | 加碼 |
| 24 | WFC | Wells Fargo & Co | -0.1% | -3.55% | 減碼 |
| 25 | PEG | Public Service Enterprise Gp | -0.1% | -2.00% | 減碼 |
| 26 | ORCL | Oracle CORP | -0.1% | -1.48% | 減碼 |
| 27 | WMT | Walmart Inc | -0.1% | -2.06% | 加碼 |
| 28 | WFC 7.5 PERP L債券 | Wells Fargo & Company | -0.1% | — | 不變 |
| 29 | GILD | Gilead Sciences Inc | -0.1% | -1.27% | 減碼 |
| 30 | GOOGL | Alphabet Inc-cl A | -0.2% | -2.06% | 加碼 |
| 31 | VEU | Vanguard Ftse All-world Ex-u | -0.2% | — | 減碼 |
| 32 | IEFA | Ishares Core Msci Eafe ETF | -0.3% | -1.82% | 減碼 |
| 33 | DOV | Dover CORP | -0.3% | -1.38% | 減碼 |
| 34 | CNC | Centene CORP | -0.3% | -2.39% | 減碼 |
| 35 | VOO | Vanguard S&p 500 ETF | -0.3% | -0.36% | 減碼 |
| 36 | DFSEUR | Discover Financial Services | -0.3% | -1.60% | 減碼 |
| 37 | ABT | Abbott Laboratories | -0.3% | -2.33% | 減碼 |
| 38 | HUM | Humana Inc | -0.4% | -1.12% | 減碼 |
| 39 | META | Meta Platforms Inc-class A | -0.4% | -13.98% | 減碼 |
| 40 | BNY | Bank Of New York Mellon CORP | -0.4% | -67.56% | 減碼 |
| 41 | T | At&t Inc | -0.4% | -4.56% | 減碼 |
| 42 | SPYM | Ste Str Spdr Pt S&p 500 ETF | -0.4% | -2.39% | 減碼 |
| 43 | BWA | Borgwarner Inc | -0.5% | -2.73% | 減碼 |
| 44 | PM | Philip Morris International | -0.5% | -3.72% | 減碼 |
| 45 | SBUX | Starbucks CORP | -0.5% | -1.66% | 減碼 |
| 46 | DELL | Dell Technologies -c | -0.6% | -1.62% | 減碼 |
| 47 | DKS | Dick's Sporting Goods Inc | -0.6% | -25.28% | 減碼 |
| 48 | HON | Honeywell International Inc | -0.7% | +25.89% | 減碼 |
| 49 | BIIB | Biogen Inc | -0.7% | -1.07% | 減碼 |
| 50 | DIS | Walt Disney Co/the | -0.8% | -2.46% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，CSM Advisors, LLC 在 Q1 2025 季度的美股持倉總市值約為 US$46.8億，共申報了 124 個公開持股部位。
在 Q1 2025 季度，CSM Advisors, LLC 按市值排列的前三大核心持股分別為：VUG (8.0%)、SPY (7.9%)、QQQ (7.8%)。其中最大持股部位 VUG 佔據整體投資組合約 8.0% 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
ORSIX
市值: US$8376.3萬
本季最大獲利了結 / 清倉標的
IWN
前期市值: US$7895.8萬
在 Q1 2025 季度中，CSM Advisors, LLC 共進行了 199 項持倉異動，包含新建倉 56 個部位、加碼 24 個部位、減碼 33 個部位以及清倉 86 個部位。 其中最大新建倉標的為 ORSIX。 本季清倉部位包含 IWN。
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。