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: 0001206792
申報總市值
US$17.7億
US$17.7億
264 檔
20.6%
截至 Q4 2025 季度末，Dearborn Partners LLC 的美股持倉估值約為 US$17.7億，全數申報部位共有 264 檔。
Dearborn Partners LLC 在 Q4 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 126 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 AAPL, MSFT, MCD）占據了總市值的 20.6%，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 264 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 | AAPL | Apple Inc | 股票-科技 | 6.10% | +0.67% | -2.78% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 4.84% | +0.46% | +7.51% | |
| 3 | MCD | Mcdonald's CORP | 股票-循環性消費 | 2.51% | -0.64% | -2.31% | |
| 4 | ADP | Automatic Data Processing | 股票-科技 | 2.39% | +0.30% | -3.92% | |
| 5 | CASY | Casey's General Stores Inc | 股票-循環性消費 | 2.29% | -0.78% | -3.36% | |
| 6 | APH | Amphenol Corp-cl A | 股票-科技 | 2.10% | +0.58% | -5.22% | |
| 7 | MA | Mastercard Inc - A | 股票-金融 | 1.97% | -0.02% | -3.22% | |
| 8 | QCOM | Qualcomm Inc | 股票-科技 | 1.95% | +0.54% | -2.88% | |
| 9 | RSG | Republic Services Inc | 股票-工業 | 1.81% | -0.15% | -4.33% | |
| 10 | WEC | Wec Energy Group Inc | 股票-公用事業 | 1.79% | -0.09% | -11.22% | |
| 11 | XOM | Exxon Mobil CORP | 股票-能源 | 1.77% | -0.62% | -10.83% | |
| 12 | ITW | Illinois Tool Works | 股票-工業 | 1.76% | +0.01% | -3.72% | |
| 13 | SNA | Snap-on Inc | 股票-工業 | 1.74% | -0.42% | -7.31% | |
| 14 | AJG | Arthur J Gallagher & Co | 股票-金融 | 1.73% | +0.03% | +6.31% | |
| 15 | ATO | Atmos Energy CORP | 股票-公用事業 | 1.72% | -0.04% | -3.74% | |
| 16 | ABBV | Abbvie Inc | 股票-醫療保健 | 1.62% | +0.12% | -18.44% | |
| 17 | WSO | Watsco Inc | 股票-工業 | 1.59% | +0.21% | -3.27% | |
| 18 | WMT | Walmart Inc | 股票-非循環性消費 | 1.58% | -0.45% | -32.51% | |
| 19 | ACN | Accenture plc | 股票-科技 | 1.56% | -1.11% | -3.73% | |
| 20 | CTVA | Corteva Inc | 股票-原物料 | 1.52% | -0.09% | -3.38% | |
| 21 | NDAQ | Nasdaq Inc | 股票-金融 | 1.51% | -0.16% | -3.90% | |
| 22 | SHW | Sherwin-williams Co/the | 股票-原物料 | 1.51% | +0.05% | -3.76% | |
| 23 | INTU | Intuit Inc | 股票-科技 | 1.50% | -0.44% | -8.04% | |
| 24 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 1.50% | -0.42% | -2.88% | |
| 25 | ABT | Abbott Laboratories | 股票-醫療保健 | 1.48% | -0.76% | -3.18% | |
| 26 | VZ | Verizon Communications Inc | 股票-通訊服務 | 1.46% | -0.38% | -4.49% | |
| 27 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 1.45% | -0.04% | -5.00% | |
| 28 | STE | STERIS plc | 股票-醫療保健 | 1.45% | -0.14% | -3.38% | |
| 29 | ✓ | 股票-其他 | 1.44% | — | -8.84% | ||
| 30 | SYK | Stryker CORP | 股票-醫療保健 | 1.42% | -0.15% | -3.77% | |
| 31 | TSCO | Tractor Supply Company | 股票-循環性消費 | 1.38% | -1.09% | -19.04% | |
| 32 | TXN | Texas Instruments Inc | 股票-科技 | 1.37% | +0.68% | -4.50% | |
| 33 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.35% | +0.22% | -1.45% | |
| 34 | MKC-V | Mccormick & Co Inc Vtg Com | 股票-其他 | 1.33% | -0.06% | -11.93% | |
| 35 | HD | Home Depot Inc | 股票-循環性消費 | 1.30% | +0.03% | -30.63% | |
| 36 | CME | Cme Group Inc | 股票-金融 | 1.29% | -0.46% | +712.23% | |
| 37 | TRI | Thomson Reuters Corporation | 股票-工業 | 1.28% | -0.19% | +22.35% | |
| 38 | CTAS | Cintas CORP | 股票-工業 | 1.26% | -0.09% | -4.45% | |
| 39 | MSI | Motorola Solutions Inc | 股票-科技 | 1.21% | -0.14% | -2.21% | |
| 40 | TMUS | T-mobile US Inc | 股票-通訊服務 | 1.20% | -0.35% | -10.68% | |
| 41 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.16% | -0.02% | -3.84% | |
| 42 | FAST | Fastenal Co | 股票-工業 | 1.09% | -0.06% | -3.94% | |
| 43 | BR | Broadridge Financial Solutio | 股票-科技 | 1.03% | -0.18% | -10.31% | |
| 44 | VRSK | Verisk Analytics Inc | 股票-工業 | 0.99% | +0.26% | +1521.86% | |
| 45 | JKHY | Jack Henry & Associates Inc | 股票-科技 | 0.94% | -0.17% | -3.62% | |
| 46 | AWK | American Water Works Co Inc | 股票-公用事業 | 0.93% | -0.13% | -20.56% | |
| 47 | NEE | Nextera Energy Inc | 股票-公用事業 | 0.91% | -0.01% | -1.95% | |
| 48 | ARES | Ares Management CORP - A | 股票-金融 | 0.87% | +0.04% | -0.93% | |
| 49 | EQIX | Equinix Inc | 股票-房地產 | 0.87% | -0.02% | -6.12% | |
| 50 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.84% | +0.09% | -1.20% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CME | Cme Group Inc | +1.1% | +712.23% | 加碼 |
| 2 | VRSK | Verisk Analytics Inc | +0.9% | +1521.86% | 加碼 |
| 3 | AAPL | Apple Inc | +0.6% | -2.78% | 減碼 |
| 4 | MSFT | Microsoft CORP | +0.3% | +7.51% | 加碼 |
| 5 | MRK | Merck & Co. Inc. | +0.3% | -3.84% | 減碼 |
| 6 | JKHY | Jack Henry & Associates Inc | +0.2% | -3.62% | 減碼 |
| 7 | APH | Amphenol Corp-cl A | +0.2% | -5.22% | 減碼 |
| 8 | GOOGL | Alphabet Inc-cl A | +0.2% | -2.29% | 減碼 |
| 9 | CAT | Caterpillar Inc | +0.2% | -1.93% | 減碼 |
| 10 | NDAQ | Nasdaq Inc | +0.2% | -3.90% | 減碼 |
| 11 | ACN | Accenture plc | +0.2% | -3.73% | 減碼 |
| 12 | ✓ | +0.2% | +175.74% | 加碼 | |
| 13 | JNJ | Johnson & Johnson | +0.1% | -1.20% | 減碼 |
| 14 | TRI | Thomson Reuters Corporation | +0.1% | +22.35% | 加碼 |
| 15 | QCOM | Qualcomm Inc | +0.1% | -2.88% | 減碼 |
| 16 | MCD | Mcdonald's CORP | +0.1% | -2.31% | 減碼 |
| 17 | NEE | Nextera Energy Inc | +0.1% | -1.95% | 減碼 |
| 18 | JPM | Jpmorgan Chase & Co | +0.1% | -1.45% | 減碼 |
| 19 | STE | STERIS plc | +0.1% | -3.38% | 減碼 |
| 20 | SPYM | Ste Str Spdr Pt S&p 500 ETF | +0.1% | +29.25% | 加碼 |
| 21 | AGG | Ishares Core U.s. Aggregate | +0.1% | +65.32% | 加碼 |
| 22 | MA | Mastercard Inc - A | +0.1% | -3.22% | 減碼 |
| 23 | AVGO | Broadcom Inc | +0.1% | +24.75% | 加碼 |
| 24 | LLY | Eli Lilly & Co | +0.1% | -8.15% | 減碼 |
| 25 | ✓ | +0.1% | -8.84% | 減碼 | |
| 26 | GILD | Gilead Sciences Inc | +0.1% | -4.33% | 減碼 |
| 27 | VBTLX | Vanguard Ttl Bd Mkt Idx-adm | 0% | +64.61% | 加碼 |
| 28 | GD | General Dynamics CORP | 0% | -0.40% | 減碼 |
| 29 | RS | Reliance Inc | 0% | -0.44% | 減碼 |
| 30 | CTVA | Corteva Inc | 0% | -3.38% | 減碼 |
| 31 | GOOG | Alphabet Inc-cl C | 0% | -1.84% | 減碼 |
| 32 | VEA | Vanguard Ftse Developed ETF | 0% | +24.75% | 加碼 |
| 33 | GS | Goldman Sachs Group Inc | 0% | +116.41% | 加碼 |
| 34 | RTX | Rtx CORP | 0% | -1.62% | 減碼 |
| 35 | NVS | Novartis Ag-sponsored Adr | 0% | +0.18% | 加碼 |
| 36 | AMZN | Amazon.com Inc | 0% | +0.60% | 加碼 |
| 37 | IBM | Intl Business Machines CORP | 0% | -6.05% | 減碼 |
| 38 | PEP | Pepsico Inc | 0% | -1.52% | 減碼 |
| 39 | CASY | Casey's General Stores Inc | 0% | -3.36% | 減碼 |
| 40 | XOM | Exxon Mobil CORP | 0% | -10.83% | 減碼 |
| 41 | SCHA | Schwab US Small-cap ETF | 0% | +66.99% | 加碼 |
| 42 | IEMG | Ishares Core Msci Emerging | 0% | +73.39% | 加碼 |
| 43 | CRS | Carpenter Technology | 0% | — | 不變 |
| 44 | UNP | Union Pacific CORP | 0% | -0.56% | 減碼 |
| 45 | ROP | Roper Technologies Inc | 0% | +99.82% | 加碼 |
| 46 | IBB | Ishares Biotechnology ETF | 0% | +5.47% | 加碼 |
| 47 | KO | Coca-cola Co/the | 0% | -0.79% | 減碼 |
| 48 | NVDA | Nvidia CORP | 0% | -0.81% | 減碼 |
| 49 | ATO | Atmos Energy CORP | 0% | -3.74% | 減碼 |
| 50 | CTSH | Cognizant Tech Solutions-a | 0% | +54.18% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Dearborn Partners LLC 在 Q4 2025 季度的美股持倉總市值約為 US$17.7億，共申報了 264 個公開持股部位。
在 Q4 2025 季度，Dearborn Partners LLC 按市值排列的前三大核心持股分別為：AAPL (6.1%)、MSFT (4.8%)、MCD (2.5%)。其中最大持股部位 AAPL 佔據整體投資組合約 6.1% 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
NOBL
市值: US$123.7萬
本季最大獲利了結 / 清倉標的
UL
前期市值: US$82.0萬
在 Q4 2025 季度中，Dearborn Partners LLC 共進行了 189 項持倉異動，包含新建倉 18 個部位、加碼 45 個部位、減碼 117 個部位以及清倉 9 個部位。 其中最大新建倉標的為 NOBL。 本季清倉部位包含 UL。
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。