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: 0001054425
申報總市值
US$8.2億
US$8.2億
76 檔
43.4%
在 Q3 2025 申報期間，Dillon & Associates Inc（CIK: 0001054425）向美國 SEC 提交的 Form 13F 報告顯示，其追蹤之股票投資組合總市值達 US$8.2億，共持有 76 個公開申報部位。
從 Q3 2025 申報觀察，Dillon & Associates Inc 採取防禦導向的調倉策略，本季減碼 24 檔個股並出清 4 檔部位，顯示機構在該時期進行風險控制與流動性回收。
從部位權重觀察，前 5 大標的（包含 NVDA, AAPL, GOOGL）累計市值佔比達 43.4%，是驅動 Dillon & Associates Inc 該季度整體投資組合績效表現的核心支柱。
| # | 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 | 21.94% | +0.19% | -2.79% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 8.44% | +0.05% | -2.85% | |
| 3 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 6.08% | +0.75% | -0.39% | |
| 4 | V | Visa Inc-class A Shares | 股票-金融 | 5.10% | +0.10% | -0.24% | |
| 5 | SYK | Stryker CORP | 股票-醫療保健 | 4.03% | -0.32% | +0.34% | |
| 6 | ABT | Abbott Laboratories | 股票-醫療保健 | 3.83% | -0.47% | +1.64% | |
| 7 | PANW | Palo Alto Networks Inc | 股票-科技 | 2.99% | +2.58% | +5.70% | |
| 8 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.73% | +0.12% | +1.59% | |
| 9 | ORLY | O'reilly Automotive Inc | 股票-循環性消費 | 2.66% | -0.28% | -0.60% | |
| 10 | ADP | Automatic Data Processing | 股票-科技 | 2.61% | +0.06% | +0.03% | |
| 11 | LOW | Lowe's Cos Inc | 股票-循環性消費 | 2.41% | -0.53% | -0.20% | |
| 12 | NVO | Novo-nordisk A/s-spons Adr | 股票-醫療保健 | 2.21% | -0.71% | +2.64% | |
| 13 | APD | Air Products & Chemicals Inc | 股票-原物料 | 2.01% | -0.23% | -0.41% | |
| 14 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.90% | +0.20% | -1.82% | |
| 15 | CASY | Casey's General Stores Inc | 股票-循環性消費 | 1.87% | -0.01% | +25.08% | |
| 16 | NSC | Norfolk Southern CORP | 股票-工業 | 1.86% | -0.04% | -0.04% | |
| 17 | ECL | Ecolab Inc | 股票-原物料 | 1.84% | +0.12% | -0.03% | |
| 18 | PAYC | Paycom Software Inc | 股票-科技 | 1.82% | -0.72% | +10.90% | |
| 19 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 1.64% | -0.19% | +5.31% | |
| 20 | CMG | Chipotle Mexican Grill Inc | 股票-循環性消費 | 1.56% | -0.65% | +8.47% | |
| 21 | FISV | Fiserv Inc | 股票-其他 | 1.54% | — | +5.12% | |
| 22 | DHR | Danaher CORP | 股票-醫療保健 | 1.38% | -0.16% | +13.77% | |
| 23 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 1.36% | -0.32% | +0.06% | |
| 24 | MSFT | Microsoft CORP | 股票-科技 | 1.18% | +0.01% | +1.29% | |
| 25 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.15% | -0.13% | -2.14% | |
| 26 | ETN | Eaton Corporation plc | 股票-工業 | 1.00% | +0.15% | +10.99% | |
| 27 | CRM | Salesforce Inc | 股票-科技 | 0.93% | -0.62% | -0.64% | |
| 28 | SBUX | Starbucks CORP | 股票-循環性消費 | 0.90% | -0.15% | -4.79% | |
| 29 | CNI | Canadian Natl Railway Co | 股票-工業 | 0.89% | +0.03% | -0.92% | |
| 30 | RTX | Rtx CORP | 股票-工業 | 0.82% | -0.13% | -0.59% | |
| 31 | PAYX | Paychex Inc | 股票-科技 | 0.77% | -0.24% | -0.42% | |
| 32 | NEE | Nextera Energy Inc | 股票-公用事業 | 0.66% | -0.12% | +0.56% | |
| 33 | PEP | Pepsico Inc | 股票-非循環性消費 | 0.65% | -0.15% | -23.12% | |
| 34 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.64% | -0.01% | -0.69% | |
| 35 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.59% | +0.64% | +41.27% | |
| 36 | HD | Home Depot Inc | 股票-循環性消費 | 0.58% | -0.06% | -1.77% | |
| 37 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.57% | -0.06% | -0.36% | |
| 38 | MCD | Mcdonald's CORP | 股票-循環性消費 | 0.37% | -0.10% | -1.23% | |
| 39 | MNST | Monster Beverage CORP | 股票-非循環性消費 | 0.36% | +0.15% | +3.76% | |
| 40 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.36% | -0.04% | -0.03% | |
| 41 | REGN | Regeneron Pharmaceuticals | 股票-醫療保健 | 0.35% | -0.16% | -63.30% | |
| 42 | CL | Colgate-palmolive Co | 股票-非循環性消費 | 0.30% | -0.05% | -3.96% | |
| 43 | AZNN | Astrazeneca Plc-spons Adr | 股票-其他 | 0.25% | -0.39% | EXIT | |
| 44 | GNRC | Generac Holdings Inc | 股票-工業 | 0.25% | +0.05% | -12.55% | |
| 45 | WMT | Walmart Inc | 股票-非循環性消費 | 0.22% | -0.05% | -1.78% | |
| 46 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.21% | +0.01% | +0.43% | |
| 47 | CELH | Celsius Holdings Inc | 股票-非循環性消費 | 0.19% | -0.01% | +7.58% | |
| 48 | HON | Honeywell International Inc | 股票-工業 | 0.19% | -0.21% | EXIT | |
| 49 | ASML | ASML Holding N.V. | 股票-科技 | 0.18% | +0.11% | +4.37% | |
| 50 | SYY | Sysco CORP | 股票-非循環性消費 | 0.16% | — | -11.51% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | +6.6% | -2.79% | 減碼 |
| 2 | GOOGL | Alphabet Inc-cl A | +1.6% | -0.39% | 加碼 |
| 3 | CASY | Casey's General Stores Inc | +0.8% | +25.08% | 加碼 |
| 4 | ETN | Eaton Corporation plc | +0.5% | +10.99% | 加碼 |
| 5 | GOOG | Alphabet Inc-cl C | +0.5% | -1.82% | 減碼 |
| 6 | PANW | Palo Alto Networks Inc | +0.3% | +5.70% | 加碼 |
| 7 | LLY | Eli Lilly & Co | +0.3% | +41.27% | 加碼 |
| 8 | MSFT | Microsoft CORP | +0.2% | +1.29% | 加碼 |
| 9 | AMZN | Amazon.com Inc | +0.2% | +1.59% | 加碼 |
| 10 | NSC | Norfolk Southern CORP | +0.2% | -0.04% | 減碼 |
| 11 | META | Meta Platforms Inc-class A | +0.1% | -2.14% | 減碼 |
| 12 | RTX | Rtx CORP | +0.1% | -0.59% | 加碼 |
| 13 | JPM | Jpmorgan Chase & Co | +0.1% | -0.69% | 減碼 |
| 14 | ASML | ASML Holding N.V. | 0% | +4.37% | 減碼 |
| 15 | CELH | Celsius Holdings Inc | 0% | +7.58% | 減碼 |
| 16 | NEE | Nextera Energy Inc | — | +0.56% | 加碼 |
| 17 | MNST | Monster Beverage CORP | — | +3.76% | 加碼 |
| 18 | JNJ | Johnson & Johnson | 0% | -0.36% | 減碼 |
| 19 | COST | Costco Wholesale CORP | 0% | +0.06% | 加碼 |
| 20 | HD | Home Depot Inc | -0.1% | -1.77% | 減碼 |
| 21 | ORLY | O'reilly Automotive Inc | -0.1% | -0.60% | 加碼 |
| 22 | DHR | Danaher CORP | -0.1% | +13.77% | 加碼 |
| 23 | ADBE | Adobe Inc | -0.1% | -32.81% | 減碼 |
| 24 | PAYC | Paycom Software Inc | -0.1% | +10.90% | 加碼 |
| 25 | ECL | Ecolab Inc | -0.1% | -0.03% | 加碼 |
| 26 | CL | Colgate-palmolive Co | -0.1% | -3.96% | 減碼 |
| 27 | PG | Procter & Gamble Co/the | -0.1% | -0.03% | 減碼 |
| 28 | MDLZ | Mondelez International Inc-a | -0.1% | -34.88% | 減碼 |
| 29 | ROK | Rockwell Automation Inc | -0.2% | +1.86% | 減碼 |
| 30 | LOW | Lowe's Cos Inc | -0.2% | -0.20% | 減碼 |
| 31 | CRM | Salesforce Inc | -0.2% | -0.64% | 加碼 |
| 32 | ISRG | Intuitive Surgical Inc | -0.3% | +5.31% | 加碼 |
| 33 | AAPL | Apple Inc | -0.4% | -2.85% | 減碼 |
| 34 | PAYX | Paychex Inc | -0.4% | -0.42% | 減碼 |
| 35 | SBUX | Starbucks CORP | -0.4% | -4.79% | 減碼 |
| 36 | ABT | Abbott Laboratories | -0.4% | +1.64% | 加碼 |
| 37 | STZ | Constellation Brands Inc-a | -0.5% | -56.90% | 減碼 |
| 38 | CMG | Chipotle Mexican Grill Inc | -0.5% | +8.47% | 加碼 |
| 39 | APD | Air Products & Chemicals Inc | -0.5% | -0.41% | 減碼 |
| 40 | ADP | Automatic Data Processing | -0.5% | +0.03% | 減碼 |
| 41 | PEP | Pepsico Inc | -0.8% | -23.12% | 減碼 |
| 42 | NVO | Novo-nordisk A/s-spons Adr | -0.8% | +2.64% | 加碼 |
| 43 | REGN | Regeneron Pharmaceuticals | -0.9% | -63.30% | 減碼 |
| 44 | V | Visa Inc-class A Shares | -1% | -0.24% | 減碼 |
| 45 | FISV | Fiserv Inc | -1.1% | +5.12% | 加碼 |
| 46 | PYPL | Paypal Holdings Inc | — | EXIT | 清倉 |
| 47 | CMCSA | Comcast Corp-class A | — | EXIT | 清倉 |
| 48 | TGT | Target CORP | — | EXIT | 清倉 |
| 49 | MRK | Merck & Co. Inc. | — | EXIT | 清倉 |
| 50 | PLTR | Palantir Technologies Inc-a | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Dillon & Associates Inc 在 Q3 2025 季度的美股持倉總市值約為 US$8.2億，共申報了 76 個公開持股部位。
在 Q3 2025 季度，Dillon & Associates Inc 按市值排列的前三大核心持股分別為：NVDA (21.9%)、AAPL (8.4%)、GOOGL (6.1%)。其中最大持股部位 NVDA 佔據整體投資組合約 21.9% 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
PLTR
市值: US$23.8萬
本季最大獲利了結 / 清倉標的
PYPL
前期市值: US$36.3萬
在 Q3 2025 季度中，Dillon & Associates Inc 共進行了 50 項持倉異動，包含新建倉 1 個部位、加碼 21 個部位、減碼 24 個部位以及清倉 4 個部位。 其中最大新建倉標的為 PLTR。 本季清倉部位包含 PYPL。
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。