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: 0000887818
申報總市值
US$106.4億
US$106.4億
196 檔
22.3%
Q4 2025 季度申報顯示，Factory Mutual Insurance Co 揭露的美股組合總市值為 US$106.4億，涵蓋 196 個不同之權益投資部位。
在 Q4 2025，Factory Mutual Insurance Co 展現出較為審慎的避險與獲利了結姿態。本季共減碼 24 個部位並完全清倉 5 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 NVDA, MSFT, AAPL）占據了總市值的 22.3%，展現出該機構在 Q4 2025 的重點資金聚焦與風險分佈特徵。
| # | 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 | 5.53% | -0.37% | -0.55% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 4.95% | -0.81% | -4.01% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 4.76% | -0.19% | -2.28% | |
| 4 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 4.70% | +0.13% | -4.77% | |
| 5 | AGG | Ishares Core U.s. Aggregate | ETF-其他 | 4.15% | +0.70% | +9.07% | |
| 6 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.11% | -0.12% | -0.82% | |
| 7 | JCPB | Jpmorgan Core Plus Bond ETF | ETF-其他 | 2.81% | +0.42% | — | |
| 8 | AVGO | Broadcom Inc | 股票-科技 | 2.54% | -0.05% | -9.27% | |
| 9 | DFCF | Dimensional Core Fixed Inc | ETF-其他 | 1.96% | +1.84% | — | |
| 10 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.95% | -0.34% | -2.00% | |
| 11 | XLU | St Sr Utl Sl Se Spdr Etf-usd | ETF-其他 | 1.65% | -0.30% | +85.42% | |
| 12 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.61% | -0.13% | -8.85% | |
| 13 | DFAX | Dimensional World Ex US Core | ETF-其他 | 1.59% | -0.18% | — | |
| 14 | XLK | Ss Technology Select Sector | ETF-科技型 | 1.49% | — | -13.18% | |
| 15 | VGK | Vanguard Ftse Europe ETF | ETF-其他 | 1.47% | -1.04% | EXIT | |
| 16 | XLI | Ss Industrial Select Sector | ETF-其他 | 1.45% | -0.23% | — | |
| 17 | IXUS | Ishares Core Intl Stock ETF | ETF-其他 | 1.41% | +0.47% | NEW | |
| 18 | JIRE | Jpmorgan Int Res Enh Eqty | ETF-其他 | 1.27% | -0.12% | — | |
| 19 | TSLA | Tesla Inc | 股票-循環性消費 | 1.20% | -0.07% | -2.54% | |
| 20 | V | Visa Inc-class A Shares | 股票-金融 | 1.18% | -0.01% | -0.55% | |
| 21 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 1.18% | -0.17% | -9.19% | |
| 22 | DFAE | Dimensional Emerging Core Eq | ETF-新興市場 | 1.02% | -0.83% | — | |
| 23 | HYDB | Ishares High Yield Systemati | ETF-非投資等級債 | 1.02% | -0.18% | +100.51% | |
| 24 | GLD | Spdr Gold Shares | ETF-避險與商品 | 1.01% | -0.24% | — | |
| 25 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 0.98% | +0.17% | +10.28% | |
| 26 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.94% | +0.07% | -0.69% | |
| 27 | XOM | Exxon Mobil CORP | 股票-能源 | 0.81% | -0.67% | -2.59% | |
| 28 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.81% | +0.22% | +13.32% | |
| 29 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.79% | -0.21% | -12.86% | |
| 30 | IWR | Ishares Russell Mid-cap ETF | ETF-其他 | 0.74% | -0.04% | — | |
| 31 | NOW | Servicenow Inc | 股票-科技 | 0.73% | -0.10% | +464.72% | |
| 32 | KLAC | Kla CORP | 股票-科技 | 0.72% | +0.62% | -14.07% | |
| 33 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 0.72% | +0.94% | NEW | |
| 34 | CDNS | Cadence Design Sys Inc | 股票-科技 | 0.70% | +0.04% | +4.38% | |
| 35 | WMT | Walmart Inc | 股票-非循環性消費 | 0.69% | -0.26% | -9.97% | |
| 36 | XLY | Ss Consumer Disc Select Sect | ETF-其他 | 0.69% | -0.07% | +100.00% | |
| 37 | PM | Philip Morris International | 股票-非循環性消費 | 0.68% | -0.13% | +9.87% | |
| 38 | ASML | ASML Holding N.V. | 股票-科技 | 0.66% | +0.21% | -25.76% | |
| 39 | WFC | Wells Fargo & Co | 股票-金融 | 0.65% | -0.06% | -2.37% | |
| 40 | XLB | Ss Materials Select Sector | ETF-其他 | 0.61% | +0.45% | NEW | |
| 41 | MS | Morgan Stanley | 股票-金融 | 0.59% | +0.01% | — | |
| 42 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.56% | -0.11% | -2.54% | |
| 43 | CVX | Chevron CORP | 股票-能源 | 0.54% | -0.48% | -2.96% | |
| 44 | ACN | Accenture plc | 股票-科技 | 0.54% | -0.30% | +92.66% | |
| 45 | UNP | Union Pacific CORP | 股票-工業 | 0.53% | -0.04% | -3.06% | |
| 46 | APH | Amphenol Corp-cl A | 股票-科技 | 0.53% | +0.08% | -2.44% | |
| 47 | USHY | Ishares Broad Usd High Yield | ETF-非投資等級債 | 0.51% | -0.09% | — | |
| 48 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.50% | -0.07% | -2.54% | |
| 49 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.50% | -0.15% | +10.30% | |
| 50 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.49% | -0.03% | -15.01% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | +1% | -4.77% | 減碼 |
| 2 | HYDB | Ishares High Yield Systemati | +0.5% | +100.51% | 加碼 |
| 3 | AGG | Ishares Core U.s. Aggregate | +0.5% | +9.07% | 加碼 |
| 4 | AAPL | Apple Inc | +0.4% | -2.28% | 減碼 |
| 5 | VGK | Vanguard Ftse Europe ETF | +0.4% | +22.44% | 加碼 |
| 6 | LLY | Eli Lilly & Co | +0.3% | -0.69% | 減碼 |
| 7 | AMD | Advanced Micro Devices | +0.3% | +155.87% | 加碼 |
| 8 | ACN | Accenture plc | +0.3% | +92.66% | 加碼 |
| 9 | AMZN | Amazon.com Inc | +0.2% | -0.82% | 減碼 |
| 10 | MU | Micron Technology Inc | +0.2% | +15.64% | 加碼 |
| 11 | ANET | Arista Networks Inc | +0.2% | +114.63% | 加碼 |
| 12 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | +10.28% | 加碼 |
| 13 | ISRG | Intuitive Surgical Inc | +0.2% | +190.85% | 加碼 |
| 14 | GLD | Spdr Gold Shares | +0.1% | — | 不變 |
| 15 | DFAX | Dimensional World Ex US Core | +0.1% | — | 不變 |
| 16 | UNH | Unitedhealth Group Inc | +0.1% | +13.32% | 加碼 |
| 17 | PFGC | Performance Food Group Co | +0.1% | +122.22% | 加碼 |
| 18 | INTU | Intuit Inc | +0.1% | +27.73% | 加碼 |
| 19 | AME | Ametek Inc | +0.1% | +6.59% | 加碼 |
| 20 | MS | Morgan Stanley | +0.1% | — | 不變 |
| 21 | BTI | British American Tob-sp Adr | +0.1% | +170.62% | 加碼 |
| 22 | AVGO | Broadcom Inc | 0% | -9.27% | 減碼 |
| 23 | JPM | Jpmorgan Chase & Co | -0.1% | -8.85% | 減碼 |
| 24 | SPG | Simon Property Group Inc | -0.1% | -20.74% | 減碼 |
| 25 | ETN | Eaton Corporation plc | -0.1% | -0.61% | 減碼 |
| 26 | ALGN | Align Technology Inc | -0.1% | -38.97% | 減碼 |
| 27 | AON | Aon plc | -0.1% | -35.88% | 減碼 |
| 28 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | -9.19% | 減碼 |
| 29 | NFLX | Netflix Inc | -0.1% | +874.42% | 加碼 |
| 30 | CVS | Cvs Health CORP | -0.1% | -31.41% | 減碼 |
| 31 | XLU | St Sr Utl Sl Se Spdr Etf-usd | -0.1% | +85.42% | 加碼 |
| 32 | ABBV | Abbvie Inc | -0.1% | -20.64% | 減碼 |
| 33 | ASML | ASML Holding N.V. | -0.1% | -25.76% | 減碼 |
| 34 | TMUS | T-mobile US Inc | -0.1% | -48.55% | 減碼 |
| 35 | ORCL | Oracle CORP | -0.1% | -0.63% | 減碼 |
| 36 | META | Meta Platforms Inc-class A | -0.2% | -2.00% | 減碼 |
| 37 | CTVA | Corteva Inc | -0.2% | -43.98% | 減碼 |
| 38 | VZ | Verizon Communications Inc | -0.2% | -36.67% | 減碼 |
| 39 | FISV | Fiserv Inc | -0.3% | -95.99% | 減碼 |
| 40 | VOO | Vanguard S&p 500 ETF | -0.3% | -36.63% | 減碼 |
| 41 | MSFT | Microsoft CORP | -0.4% | -4.01% | 減碼 |
| 42 | XLK | Ss Technology Select Sector | -1.7% | -13.18% | 減碼 |
| 43 | IXUS | Ishares Core Intl Stock ETF | -3.4% | -72.18% | 減碼 |
| 44 | JIRE | Jpmorgan Int Res Enh Eqty | — | NEW | 新建倉 |
| 45 | UL | Unilever PLC | — | EXIT | 清倉 |
| 46 | CMCSA | Comcast Corp-class A | — | EXIT | 清倉 |
| 47 | UL | Unilever Plc-sponsored Adr | — | NEW | 新建倉 |
| 48 | BJ | Bj's Wholesale Club Holdings | — | EXIT | 清倉 |
| 49 | EXK | Exact Sciences CORP | — | EXIT | 清倉 |
| 50 | WBD | Warner Bros Discovery Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Factory Mutual Insurance Co 在 Q4 2025 季度的美股持倉總市值約為 US$106.4億，共申報了 196 個公開持股部位。
在 Q4 2025 季度，Factory Mutual Insurance Co 按市值排列的前三大核心持股分別為：NVDA (5.5%)、MSFT (5.0%)、AAPL (4.8%)。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
JIRE
市值: US$1.3億
本季最大獲利了結 / 清倉標的
UL
前期市值: US$4152.0萬
在 Q4 2025 季度中，Factory Mutual Insurance Co 共進行了 47 項持倉異動，包含新建倉 2 個部位、加碼 16 個部位、減碼 24 個部位以及清倉 5 個部位。 其中最大新建倉標的為 JIRE。 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。