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
399 檔
9.4%
根據最新整理的 13F 季度數據集，CSM Advisors, LLC 於 Q4 2025 結束時的管理資產規模為 US$46.8億。該機構在本季度申報了 399 檔美股持倉，呈現出該時期的主要投資地圖。
CSM Advisors, LLC 在 Q4 2025 進行了結構性的板塊輪動與部位換股。在開立 21 個全新部位及加碼 79 檔持股的同時，亦同步清倉 19 檔並減碼 79 檔標的。
檢視投資組合結構，前 5 大主力部位（包含 QQQ, VUG, SPY）占據了總市值的 9.4%，展現出該機構在 Q4 2025 的重點資金聚焦與風險分佈特徵。
僅顯示前 200 大持股（共 399 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 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 3.21% | +0.24% | -3.33% | |
| 2 | VUG | Vanguard Growth ETF | ETF-其他 | 2.67% | +0.08% | +0.05% | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 2.40% | +0.51% | -23.99% | |
| 4 | VTV | Vanguard Value ETF | ETF-其他 | 1.90% | -0.06% | — | |
| 5 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.83% | +0.02% | -19.00% | |
| 6 | USB | US Bancorp | 股票-金融 | 1.65% | +0.01% | +8.63% | |
| 7 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 1.55% | +1.14% | +5705.00% | |
| 8 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.47% | -0.05% | -3.10% | |
| 9 | HIG | Hartford Insurance Group Inc | 股票-金融 | 1.46% | +0.02% | +15.58% | |
| 10 | JNJ | Johnson & Johnson | 股票-醫療保健 | 1.44% | -0.15% | +3.78% | |
| 11 | CMI | Cummins Inc | 股票-工業 | 1.43% | +0.07% | -11.77% | |
| 12 | CSCO | Cisco Systems Inc | 股票-科技 | 1.39% | -0.47% | +4.16% | |
| 13 | EZU | Ishares Msci Eurozone ETF | ETF-其他 | 1.25% | -0.04% | — | |
| 14 | C | Citigroup Inc | 股票-金融 | 1.25% | +0.06% | +8.67% | |
| 15 | ORSIX | Nrth Sq Dyn Sm Cap-i | 股票-其他 | 1.19% | -1.05% | EXIT | |
| 16 | DAL | Delta Air Lines Inc | 股票-工業 | 1.19% | +0.19% | +20.17% | |
| 17 | SYF | Synchrony Financial | 股票-金融 | 1.18% | -0.02% | +16.36% | |
| 18 | BNY | Bank Of New York Mellon CORP | 股票-金融 | 1.16% | -0.05% | +11.11% | |
| 19 | CAT | Caterpillar Inc | 股票-工業 | 1.13% | +0.14% | +0.75% | |
| 20 | NVDA | Nvidia CORP | 股票-科技 | 1.11% | +0.22% | +11.04% | |
| 21 | MSFT | Microsoft CORP | 股票-科技 | 1.09% | -1.21% | +5.51% | |
| 22 | QCOM | Qualcomm Inc | 股票-科技 | 1.08% | -0.61% | +16.63% | |
| 23 | CVX | Chevron CORP | 股票-能源 | 1.07% | -0.27% | -8.97% | |
| 24 | AAPL | Apple Inc | 股票-科技 | 1.05% | +1.30% | +1.11% | |
| 25 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.03% | +0.51% | -0.35% | |
| 26 | GS | Goldman Sachs Group Inc | 股票-金融 | 1.03% | +0.01% | -6.10% | |
| 27 | IBM | Intl Business Machines CORP | 股票-科技 | 0.99% | -0.10% | +8.60% | |
| 28 | VTWO | Vanguard Russell 2000 ETF | ETF-中小型股 | 0.98% | -0.39% | +17.12% | |
| 29 | GM | General Motors Co | 股票-循環性消費 | 0.88% | +0.04% | -3.41% | |
| 30 | MO | Altria Group Inc | 股票-非循環性消費 | 0.87% | +0.03% | +8.44% | |
| 31 | AMP | Ameriprise Financial Inc | 股票-金融 | 0.86% | -0.07% | +20.52% | |
| 32 | VZ | Verizon Communications Inc | 股票-通訊服務 | 0.83% | -0.11% | +8.52% | |
| 33 | EOG | Eog Resources Inc | 股票-能源 | 0.82% | -0.21% | -10.27% | |
| 34 | MDT | Medtronic plc | 股票-醫療保健 | 0.81% | -0.57% | EXIT | |
| 35 | SHEL | Shell Plc-adr | 股票-能源 | 0.81% | -0.23% | +8.47% | |
| 36 | NUE | Nucor CORP | 股票-原物料 | 0.74% | +0.06% | +53.68% | |
| 37 | SPG | Simon Property Group Inc | 股票-房地產 | 0.74% | +0.02% | +45.71% | |
| 38 | URI | United Rentals Inc | 股票-工業 | 0.72% | -0.01% | +28.39% | |
| 39 | DUK | Duke Energy CORP | 股票-公用事業 | 0.71% | -0.11% | -20.51% | |
| 40 | LOW | Lowe's Cos Inc | 股票-循環性消費 | 0.68% | -0.07% | +8.62% | |
| 41 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.67% | +0.10% | +8.40% | |
| 42 | LNC | Lincoln National CORP | 股票-金融 | 0.64% | -0.33% | EXIT | |
| 43 | KO | The Coca-Cola Company | 股票-非循環性消費 | 0.64% | -0.03% | +8.66% | |
| 44 | EWC | Ishares Msci Canada ETF | ETF-其他 | 0.64% | -0.51% | +3.69% | |
| 45 | CF | Cf Industries Holdings Inc | 股票-原物料 | 0.62% | -0.13% | +983.21% | |
| 46 | FOXA | Fox CORP - Class A | 股票-通訊服務 | 0.62% | -0.13% | -18.12% | |
| 47 | IEI | Ishares 3-7 Year Treasury Bo | ETF-政府公債 | 0.62% | -0.55% | EXIT | |
| 48 | APTV | Aptiv PLC | 股票-循環性消費 | 0.61% | -0.37% | EXIT | |
| 49 | ZM | Zoom Communications Inc | 股票-科技 | 0.61% | +0.06% | +30.94% | |
| 50 | PFE | Pfizer Inc | 股票-醫療保健 | 0.60% | -0.07% | +31.52% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | IWM | Ishares Russell 2000 ETF | +1.5% | +5705.00% | 加碼 |
| 2 | CF | Cf Industries Holdings Inc | +0.6% | +983.21% | 加碼 |
| 3 | DAL | Delta Air Lines Inc | +0.4% | +20.17% | 加碼 |
| 4 | NUE | Nucor CORP | +0.3% | +53.68% | 加碼 |
| 5 | SYF | Synchrony Financial | +0.3% | +16.36% | 加碼 |
| 6 | LNC | Lincoln National CORP | +0.3% | +58.22% | 加碼 |
| 7 | USB | US Bancorp | +0.2% | +8.63% | 加碼 |
| 8 | C | Citigroup Inc | +0.2% | +8.67% | 加碼 |
| 9 | HIG | Hartford Insurance Group Inc | +0.2% | +15.58% | 加碼 |
| 10 | GOOGL | Alphabet Inc-cl A | +0.2% | -0.35% | 減碼 |
| 11 | SPG | Simon Property Group Inc | +0.2% | +45.71% | 加碼 |
| 12 | GM | General Motors Co | +0.2% | -3.41% | 減碼 |
| 13 | CSCO | Cisco Systems Inc | +0.2% | +4.16% | 加碼 |
| 14 | CAT | Caterpillar Inc | +0.2% | +0.75% | 加碼 |
| 15 | JNJ | Johnson & Johnson | +0.2% | +3.78% | 加碼 |
| 16 | DG | Dollar General CORP | +0.2% | +11.80% | 加碼 |
| 17 | QCOM | Qualcomm Inc | +0.2% | +16.63% | 加碼 |
| 18 | BNY | Bank Of New York Mellon CORP | +0.2% | +11.11% | 加碼 |
| 19 | ZM | Zoom Communications Inc | +0.2% | +30.94% | 加碼 |
| 20 | LLY | Eli Lilly & Co | +0.2% | +19.73% | 加碼 |
| 21 | VTWO | Vanguard Russell 2000 ETF | +0.1% | +17.12% | 加碼 |
| 22 | VXUS | Vanguard Total Intl Stock | +0.1% | +42.36% | 加碼 |
| 23 | MTX | Minerals Technologies Inc | +0.1% | +82.29% | 加碼 |
| 24 | AMP | Ameriprise Financial Inc | +0.1% | +20.52% | 加碼 |
| 25 | PFE | Pfizer Inc | +0.1% | +31.52% | 加碼 |
| 26 | VEA | Vanguard Ftse Developed ETF | +0.1% | +21.23% | 加碼 |
| 27 | DNOW | Dnow Inc | +0.1% | +96.39% | 加碼 |
| 28 | IBM | Intl Business Machines CORP | +0.1% | +8.60% | 加碼 |
| 29 | WPC | Wp Carey Inc | +0.1% | +32.07% | 加碼 |
| 30 | ABX | Abacus Global Management Inc | +0.1% | +10.73% | 加碼 |
| 31 | NVDA | Nvidia CORP | +0.1% | +11.04% | 加碼 |
| 32 | EFV | Ishares Msci Eafe Value ETF | +0.1% | +26.37% | 加碼 |
| 33 | APTV | Aptiv PLC | +0.1% | +32.09% | 加碼 |
| 34 | SHEL | Shell Plc-adr | +0.1% | +8.47% | 加碼 |
| 35 | GPOR | Gulfport Energy CORP | +0.1% | +44.76% | 加碼 |
| 36 | IDT | Idt Corp-class B | +0.1% | +107.42% | 加碼 |
| 37 | CMI | Cummins Inc | +0.1% | -11.77% | 減碼 |
| 38 | MDT | Medtronic plc | +0.1% | +8.51% | 加碼 |
| 39 | VICI | Vici Properties Inc | +0.1% | +36.41% | 加碼 |
| 40 | GSL | Global Ship Lease, Inc. | +0.1% | +3.04% | 加碼 |
| 41 | ENS | Enersys | +0.1% | -0.50% | 減碼 |
| 42 | EWC | Ishares Msci Canada ETF | +0.1% | +3.69% | 加碼 |
| 43 | TSN | Tyson Foods Inc-cl A | +0.1% | +8.61% | 加碼 |
| 44 | SNCY | Sun Country Airlines Holding | +0.1% | +11.93% | 加碼 |
| 45 | ZEUS | Olympic Steel Inc | +0.1% | -1.00% | 減碼 |
| 46 | MYE | Myers Industries Inc | +0.1% | +45.95% | 加碼 |
| 47 | TEX | Terex CORP | +0.1% | +36.56% | 加碼 |
| 48 | JOUT | Johnson Outdoors Inc-a | +0.1% | +41.99% | 加碼 |
| 49 | AAPL | Apple Inc | 0% | +1.11% | 加碼 |
| 50 | URI | United Rentals Inc | 0% | +28.39% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，CSM Advisors, LLC 在 Q4 2025 季度的美股持倉總市值約為 US$46.8億，共申報了 399 個公開持股部位。
在 Q4 2025 季度，CSM Advisors, LLC 按市值排列的前三大核心持股分別為：QQQ (3.2%)、VUG (2.7%)、SPY (2.4%)。其中最大持股部位 QQQ 佔據整體投資組合約 3.2% 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
GD
市值: US$2007.5萬
本季最大獲利了結 / 清倉標的
XLF
前期市值: US$3711.1萬
在 Q4 2025 季度中，CSM Advisors, LLC 共進行了 198 項持倉異動，包含新建倉 21 個部位、加碼 79 個部位、減碼 79 個部位以及清倉 19 個部位。 其中最大新建倉標的為 GD。 本季清倉部位包含 XLF。
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。