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: 0000948046
申報總市值
US$3444.3億
US$3444.3億
3594 檔
18.0%
根據最新整理的 13F 季度數據集，Deutsche Bank Ag\ 於 Q4 2025 結束時的管理資產規模為 US$3444.3億。該機構在本季度申報了 3594 檔美股持倉，呈現出該時期的主要投資地圖。
在 Q4 2025，Deutsche Bank Ag\ 進行了溫和的常態性持倉調整（包含新建倉 1 檔、加碼 27 檔、減碼 22 檔與清倉 0 檔），整體投資組合架構維持相對穩定。
整體而言，Deutsche Bank Ag\ 的前 5 大持股（包含 NVDA, MSFT, AAPL）貢獻了組合市值的 18.0%，形成該機構在 Q4 2025 季度的基本面基石。
僅顯示前 200 大持股（共 3594 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 | NVDA | Nvidia CORP | 股票-科技 | 5.49% | +0.16% | +0.08% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 5.00% | -0.46% | -1.29% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 4.11% | +0.07% | -1.44% | |
| 4 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 3.24% | +0.38% | -14.49% | |
| 5 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.30% | +0.22% | -7.14% | |
| 6 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.72% | +0.23% | -10.59% | |
| 7 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.66% | -0.13% | -11.40% | |
| 8 | AVGO | Broadcom Inc | 股票-科技 | 1.56% | +0.13% | -10.31% | |
| 9 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.33% | +0.10% | +16.15% | |
| 10 | TSLA | Tesla Inc | 股票-循環性消費 | 1.17% | +0.17% | -8.84% | |
| 11 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.07% | -0.06% | +3.00% | |
| 12 | V | Visa Inc-class A Shares | 股票-金融 | 1.01% | +0.01% | -7.52% | |
| 13 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.91% | -0.02% | -2.84% | |
| 14 | TTE | TotalEnergies SE | 股票-其他 | 0.86% | -0.31% | — | |
| 15 | BAC | Bank Of America CORP | 股票-金融 | 0.84% | -0.06% | +5.86% | |
| 16 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.75% | +0.11% | +7.12% | |
| 17 | DB | Deutsche Bank Aktiengesellschaft | 股票-金融 | 0.71% | +0.06% | -33.99% | |
| 18 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.64% | -0.14% | +11.49% | |
| 19 | AMD | Advanced Micro Devices | 股票-科技 | 0.64% | +0.79% | +0.39% | |
| 20 | MA | Mastercard Inc - A | 股票-金融 | 0.62% | +0.03% | +8.10% | |
| 21 | ENB | Enbridge Inc | 股票-能源 | 0.58% | -0.08% | -6.13% | |
| 22 | MDT | Medtronic plc | 股票-醫療保健 | 0.56% | -0.12% | +0.07% | |
| 23 | LIN | Linde plc | 股票-原物料 | 0.55% | -0.05% | +40.19% | |
| 24 | AMAT | Applied Materials Inc | 股票-科技 | 0.54% | +0.11% | -1.77% | |
| 25 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 0.51% | +0.01% | +3.43% | |
| 26 | NFLX | Netflix Inc | 股票-通訊服務 | 0.51% | -0.16% | +968.26% | |
| 27 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 0.51% | -0.08% | -1.28% | |
| 28 | WMT | Walmart Inc | 股票-非循環性消費 | 0.48% | +0.11% | +4.51% | |
| 29 | AEM | Agnico Eagle Mines LTD | 股票-原物料 | 0.47% | -0.19% | +4.20% | |
| 30 | ABT | Abbott Laboratories | 股票-醫療保健 | 0.47% | -0.04% | +8.78% | |
| 31 | ADBE | Adobe Inc | 股票-科技 | 0.46% | -0.05% | +3.86% | |
| 32 | NEE | Nextera Energy Inc | 股票-公用事業 | 0.45% | -0.08% | +2.89% | |
| 33 | UBS | UBS Group AG | 股票-金融 | 0.45% | -0.06% | +19.09% | |
| 34 | PEP | Pepsico Inc | 股票-非循環性消費 | 0.44% | -0.12% | +0.39% | |
| 35 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.44% | -0.05% | -24.09% | |
| 36 | MU | Micron Technology Inc | 股票-科技 | 0.42% | +1.09% | +11.69% | |
| 37 | ORCL | Oracle CORP | 股票-科技 | 0.42% | -0.03% | +4.43% | |
| 38 | CSCO | Cisco Systems Inc | 股票-科技 | 0.41% | +0.15% | +2.38% | |
| 39 | HD | Home Depot Inc | 股票-循環性消費 | 0.40% | -0.01% | -16.01% | |
| 40 | XOM | Exxon Mobil CORP | 股票-能源 | 0.40% | -0.25% | +1.35% | |
| 41 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.40% | -0.05% | +25.73% | |
| 42 | ANET | Arista Networks Inc | 股票-科技 | 0.40% | +0.10% | +8.42% | |
| 43 | AMT | American Tower CORP | 股票-房地產 | 0.40% | -0.12% | -8.31% | |
| 44 | WMB | Williams Cos Inc | 股票-能源 | 0.39% | -0.08% | +1.21% | |
| 45 | PGR | Progressive CORP | 股票-金融 | 0.38% | — | -5.46% | |
| 46 | IBM | Intl Business Machines CORP | 股票-科技 | 0.38% | -0.01% | +8.59% | |
| 47 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.37% | — | -4.98% | |
| 48 | WFC | Wells Fargo & Co | 股票-金融 | 0.37% | -0.06% | -5.97% | |
| 49 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.37% | -0.03% | +5.31% | |
| 50 | AXP | American Express Co | 股票-金融 | 0.37% | — | -1.92% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | LLY | Eli Lilly & Co | +0.5% | +16.15% | 加碼 |
| 2 | GOOGL | Alphabet Inc-cl A | +0.2% | -14.49% | 減碼 |
| 3 | MU | Micron Technology Inc | +0.2% | +11.69% | 加碼 |
| 4 | GOOG | Alphabet Inc-cl C | +0.2% | -10.59% | 減碼 |
| 5 | AMD | Advanced Micro Devices | +0.2% | +0.39% | 加碼 |
| 6 | PNC | Pnc Financial Services Group | +0.1% | +108.25% | 加碼 |
| 7 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | +94.26% | 加碼 |
| 8 | UBS | UBS Group AG | +0.1% | +19.09% | 加碼 |
| 9 | TRP | Tc Energy CORP | +0.1% | +63.18% | 加碼 |
| 10 | LIN | Linde plc | +0.1% | +40.19% | 加碼 |
| 11 | AAPL | Apple Inc | +0.1% | -1.44% | 減碼 |
| 12 | AMAT | Applied Materials Inc | +0.1% | -1.77% | 減碼 |
| 13 | CRWV | Coreweave Inc-cl A | +0.1% | +22623.98% | 加碼 |
| 14 | C | Citigroup Inc | +0.1% | +28.37% | 加碼 |
| 15 | STX | Seagate Technology Holdings plc | +0.1% | +102.02% | 加碼 |
| 16 | BAC | Bank Of America CORP | +0.1% | +5.86% | 加碼 |
| 17 | ISRG | Intuitive Surgical Inc | +0.1% | +9.57% | 加碼 |
| 18 | WELL | Welltower Inc | +0.1% | +21.26% | 加碼 |
| 19 | CL | Colgate-palmolive Co | +0.1% | +33.92% | 加碼 |
| 20 | REGN | Regeneron Pharmaceuticals | +0.1% | +9.65% | 加碼 |
| 21 | EXPE | Expedia Group Inc | +0.1% | +54.97% | 加碼 |
| 22 | SNDK | Sandisk CORP | +0.1% | +184.22% | 加碼 |
| 23 | ED | Consolidated Edison Inc | +0.1% | +101.36% | 加碼 |
| 24 | JNJ | Johnson & Johnson | +0.1% | -2.84% | 減碼 |
| 25 | CAT | Caterpillar Inc | +0.1% | +7.57% | 加碼 |
| 26 | EQIX | Equinix Inc | +0.1% | +30.05% | 加碼 |
| 27 | COST | Costco Wholesale CORP | +0.1% | +25.73% | 加碼 |
| 28 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | +0.1% | +1091.21% | 加碼 |
| 29 | VRTX | Vertex Pharmaceuticals Inc | +0.1% | +10.52% | 加碼 |
| 30 | PYPL | Paypal Holdings Inc | -0.1% | -17.58% | 減碼 |
| 31 | PBA | Pembina Pipeline CORP | -0.1% | -58.90% | 減碼 |
| 32 | XEL | Xcel Energy Inc | -0.1% | -47.94% | 減碼 |
| 33 | PNW | Pinnacle West Capital | -0.1% | -83.57% | 減碼 |
| 34 | VICI | Vici Properties Inc | -0.1% | -72.26% | 減碼 |
| 35 | CSX | Csx CORP | -0.1% | -34.64% | 減碼 |
| 36 | UNH | Unitedhealth Group Inc | -0.1% | -21.45% | 減碼 |
| 37 | GILD | Gilead Sciences Inc | -0.1% | -30.84% | 減碼 |
| 38 | NOW | Servicenow Inc | -0.1% | +386.31% | 加碼 |
| 39 | UBER | Uber Technologies Inc | -0.1% | -1.25% | 減碼 |
| 40 | AMT | American Tower CORP | -0.1% | -8.31% | 減碼 |
| 41 | ENB | Enbridge Inc | -0.1% | -6.13% | 減碼 |
| 42 | NFLX | Netflix Inc | -0.1% | +968.26% | 加碼 |
| 43 | TSLA | Tesla Inc | -0.1% | -8.84% | 減碼 |
| 44 | AVGO | Broadcom Inc | -0.1% | -10.31% | 減碼 |
| 45 | ORCL | Oracle CORP | -0.2% | +4.43% | 加碼 |
| 46 | HD | Home Depot Inc | -0.2% | -16.01% | 減碼 |
| 47 | DB | Deutsche Bank Aktiengesellschaft | -0.3% | -33.99% | 減碼 |
| 48 | META | Meta Platforms Inc-class A | -0.5% | -11.40% | 減碼 |
| 49 | MSFT | Microsoft CORP | -0.6% | -1.29% | 減碼 |
| 50 | TTE | TotalEnergies SE | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Deutsche Bank Ag\ 在 Q4 2025 季度的美股持倉總市值約為 US$3444.3億，共申報了 3594 個公開持股部位。
在 Q4 2025 季度，Deutsche Bank Ag\ 按市值排列的前三大核心持股分別為：NVDA (5.5%)、MSFT (5.0%)、AAPL (4.1%)。其中最大持股部位 NVDA 佔據整體投資組合約 5.5% 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
TTE
市值: US$26.4億
本季最大獲利了結 / 清倉標的
MSFT
前期市值: US$166.5億
在 Q4 2025 季度中，Deutsche Bank Ag\ 共進行了 50 項持倉異動，包含新建倉 1 個部位、加碼 27 個部位、減碼 22 個部位以及清倉 0 個部位。 其中最大新建倉標的為 TTE。
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。