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: 0001344717
申報總市值
US$7.4億
US$7.4億
327 檔
30.6%
根據最新整理的 13F 季度數據集，Estabrook Capital Management 於 Q4 2025 結束時的管理資產規模為 US$7.4億。該機構在本季度申報了 327 檔美股持倉，呈現出該時期的主要投資地圖。
在 Q4 2025，Estabrook Capital Management 展現出較為審慎的避險與獲利了結姿態。本季共減碼 99 個部位並完全清倉 4 檔持股，調降曝險的部位數量高於加碼動作。
檢視投資組合結構，前 5 大主力部位（包含 MSFT, JPM, AAPL）占據了總市值的 30.6%，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 327 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 | MSFT | Microsoft CORP | 股票-科技 | 10.81% | -0.37% | -3.26% | |
| 2 | JPM | Jpmorgan Chase & Co | 股票-金融 | 7.72% | +0.17% | -3.11% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 7.22% | +0.30% | -2.54% | |
| 4 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 4.19% | -0.69% | -2.49% | |
| 5 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 3.19% | +0.36% | -2.86% | |
| 6 | IBM | Intl Business Machines CORP | 股票-科技 | 2.97% | +0.17% | -1.98% | |
| 7 | JNJ | Johnson & Johnson | 股票-醫療保健 | 2.74% | -0.13% | -1.55% | |
| 8 | C | Citigroup Inc | 股票-金融 | 2.35% | +0.29% | -3.73% | |
| 9 | BAC | Bank Of America CORP | 股票-金融 | 2.32% | +0.15% | -2.14% | |
| 10 | PNC | Pnc Financial Services Group | 股票-金融 | 2.19% | +0.19% | -1.39% | |
| 11 | CSCO | Cisco Systems Inc | 股票-科技 | 2.04% | +0.76% | -3.66% | |
| 12 | HON | Honeywell International Inc | 股票-工業 | 2.00% | -2.30% | EXIT | |
| 13 | UNP | Union Pacific CORP | 股票-工業 | 1.97% | +0.06% | -1.68% | |
| 14 | CB | Chubb Limited | 股票-金融 | 1.93% | -0.08% | -1.07% | |
| 15 | CVX | Chevron CORP | 股票-能源 | 1.79% | -0.64% | -2.37% | |
| 16 | COP | Conocophillips | 股票-能源 | 1.59% | -0.61% | -0.81% | |
| 17 | WFC | Wells Fargo & Co | 股票-金融 | 1.59% | -0.06% | -2.98% | |
| 18 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.52% | -0.04% | -1.51% | |
| 19 | GE | General Electric | 股票-工業 | 1.45% | +0.31% | -6.68% | |
| 20 | WMB | Williams Cos Inc | 股票-能源 | 1.43% | -0.12% | -2.97% | |
| 21 | GLW | Corning Inc | 股票-科技 | 1.35% | +1.07% | -6.87% | |
| 22 | XOM | Exxon Mobil CORP | 股票-能源 | 1.31% | -0.50% | -1.47% | |
| 23 | MDT | Medtronic plc | 股票-醫療保健 | 1.25% | -0.11% | -1.92% | |
| 24 | WMT | Walmart Inc | 股票-非循環性消費 | 1.20% | -0.22% | -2.34% | |
| 25 | ETN | Eaton Corporation plc | 股票-工業 | 1.17% | +0.09% | -3.51% | |
| 26 | VZ | Verizon Communications Inc | 股票-通訊服務 | 1.08% | -0.29% | -0.20% | |
| 27 | CP | Canadian Pacific Kansas City | 股票-工業 | 1.04% | +0.02% | -0.62% | |
| 28 | PFE | Pfizer Inc | 股票-醫療保健 | 1.01% | -0.29% | -8.61% | |
| 29 | GEV | GE Vernova Inc | 股票-工業 | 1.00% | +0.31% | -2.58% | |
| 30 | DUK | Duke Energy CORP | 股票-公用事業 | 0.99% | -0.12% | -1.15% | |
| 31 | AFL | Aflac Inc | 股票-金融 | 0.97% | -0.02% | -3.72% | |
| 32 | AMZN | Amazon.com Inc | 股票-循環性消費 | 0.96% | +0.06% | +0.36% | |
| 33 | NSC | Norfolk Southern CORP | 股票-工業 | 0.91% | +0.01% | -2.36% | |
| 34 | AMGN | Amgen Inc | 股票-醫療保健 | 0.91% | -0.05% | -2.22% | |
| 35 | BNY | Bank Of New York Mellon CORP | 股票-金融 | 0.84% | +0.10% | -2.39% | |
| 36 | HD | Home Depot Inc | 股票-循環性消費 | 0.81% | -0.01% | -3.02% | |
| 37 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.79% | +0.06% | -1.86% | |
| 38 | T | At&t Inc | 股票-通訊服務 | 0.78% | -0.32% | -1.57% | |
| 39 | NOC | Northrop Grumman CORP | 股票-工業 | 0.74% | -0.27% | -6.42% | |
| 40 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.60% | +0.09% | -6.40% | |
| 41 | RTX | Rtx CORP | 股票-工業 | 0.58% | -0.05% | -0.02% | |
| 42 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.57% | -0.03% | -0.86% | |
| 43 | DOV | Dover CORP | 股票-工業 | 0.55% | — | -1.60% | |
| 44 | NEE | Nextera Energy Inc | 股票-公用事業 | 0.54% | -0.10% | -1.56% | |
| 45 | QCOM | Qualcomm Inc | 股票-科技 | 0.54% | +0.08% | -3.00% | |
| 46 | CTVA | Corteva Inc | 股票-原物料 | 0.52% | -0.06% | -1.20% | |
| 47 | USB | US Bancorp | 股票-金融 | 0.51% | +0.04% | — | |
| 48 | RNR | RenaissanceRe Holdings Ltd. | 股票-金融 | 0.50% | -0.01% | -0.22% | |
| 49 | PEP | Pepsico Inc | 股票-非循環性消費 | 0.49% | -0.10% | -2.92% | |
| 50 | NVDA | Nvidia CORP | 股票-科技 | 0.49% | +0.02% | -1.99% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +0.7% | -2.86% | 減碼 |
| 2 | AAPL | Apple Inc | +0.3% | -2.54% | 減碼 |
| 3 | MRK | Merck & Co. Inc. | +0.3% | -1.51% | 減碼 |
| 4 | JNJ | Johnson & Johnson | +0.3% | -1.55% | 減碼 |
| 5 | C | Citigroup Inc | +0.2% | -3.73% | 減碼 |
| 6 | CB | Chubb Limited | +0.2% | -1.07% | 減碼 |
| 7 | GOOG | Alphabet Inc-cl C | +0.2% | -1.86% | 減碼 |
| 8 | CSCO | Cisco Systems Inc | +0.2% | -3.66% | 減碼 |
| 9 | LLY | Eli Lilly & Co | +0.2% | -6.40% | 減碼 |
| 10 | WFC | Wells Fargo & Co | +0.1% | -2.98% | 減碼 |
| 11 | AMGN | Amgen Inc | +0.1% | -2.22% | 減碼 |
| 12 | BAC | Bank Of America CORP | +0.1% | -2.14% | 減碼 |
| 13 | IBM | Intl Business Machines CORP | +0.1% | -1.98% | 減碼 |
| 14 | DOV | Dover CORP | +0.1% | -1.60% | 減碼 |
| 15 | XOM | Exxon Mobil CORP | +0.1% | -1.47% | 減碼 |
| 16 | WMT | Walmart Inc | +0.1% | -2.34% | 減碼 |
| 17 | PNC | Pnc Financial Services Group | +0.1% | -1.39% | 減碼 |
| 18 | AMZN | Amazon.com Inc | +0.1% | +0.36% | 加碼 |
| 19 | RTX | Rtx CORP | +0.1% | -0.02% | 減碼 |
| 20 | USB | US Bancorp | +0.1% | — | 不變 |
| 21 | RNR | RenaissanceRe Holdings Ltd. | +0.1% | -0.22% | 減碼 |
| 22 | GEV | GE Vernova Inc | 0% | -2.58% | 減碼 |
| 23 | BNY | Bank Of New York Mellon CORP | 0% | -2.39% | 減碼 |
| 24 | NVGS | Navigator Holdings Ltd. | 0% | -1.83% | 減碼 |
| 25 | MU | Micron Technology Inc | 0% | — | 不變 |
| 26 | NEE | Nextera Energy Inc | 0% | -1.56% | 減碼 |
| 27 | ADI | Analog Devices Inc | 0% | -3.79% | 減碼 |
| 28 | HII | Huntington Ingalls Industrie | 0% | — | 不變 |
| 29 | VTRS | Viatris Inc | 0% | -15.46% | 減碼 |
| 30 | GEHC | GE Healthcare Technology | 0% | -4.73% | 減碼 |
| 31 | AMD | Advanced Micro Devices | 0% | -0.73% | 減碼 |
| 32 | BIIB | Biogen Inc | 0% | — | 不變 |
| 33 | BMY | Bristol-myers Squibb Co | 0% | -3.14% | 減碼 |
| 34 | CNI | Canadian Natl Railway Co | 0% | — | 不變 |
| 35 | GLW | Corning Inc | 0% | -6.87% | 減碼 |
| 36 | REGN | Regeneron Pharmaceuticals | 0% | — | 不變 |
| 37 | SLB | Slb LTD | 0% | -9.34% | 減碼 |
| 38 | NEM | Newmont CORP | 0% | -6.51% | 減碼 |
| 39 | AME | Ametek Inc | 0% | -7.14% | 減碼 |
| 40 | DE | Deere & Co | 0% | — | 不變 |
| 41 | JLDAX | John Hancock Ii Mult 2020-a | 0% | +6.19% | 加碼 |
| 42 | TWLO | Twilio Inc - A | 0% | — | 不變 |
| 43 | QCOM | Qualcomm Inc | 0% | -3.00% | 減碼 |
| 44 | MKSI | Mks Inc | 0% | — | 不變 |
| 45 | LMND | Lemonade Inc | 0% | — | 不變 |
| 46 | B | Barrick Mining CORP | 0% | — | 不變 |
| 47 | NSRGY | Nestle Sa-spons Adr | 0% | — | 不變 |
| 48 | STX | Seagate Technology Holdings plc | 0% | — | 不變 |
| 49 | VFIAX | Vanguard 500 Index-adm | 0% | — | 不變 |
| 50 | CTVA | Corteva Inc | — | -1.20% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Estabrook Capital Management 在 Q4 2025 季度的美股持倉總市值約為 US$7.4億，共申報了 327 個公開持股部位。
在 Q4 2025 季度，Estabrook Capital Management 按市值排列的前三大核心持股分別為：MSFT (10.8%)、JPM (7.7%)、AAPL (7.2%)。其中最大持股部位 MSFT 佔據整體投資組合約 10.8% 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
Q
市值: US$81.3萬
本季最大獲利了結 / 清倉標的
IP
前期市值: US$13.9萬
在 Q4 2025 季度中，Estabrook Capital Management 共進行了 125 項持倉異動，包含新建倉 3 個部位、加碼 19 個部位、減碼 99 個部位以及清倉 4 個部位。 其中最大新建倉標的為 Q。 本季清倉部位包含 IP。
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。