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: 0001259969
申報總市值
US$41.3億
US$41.3億
1729 檔
20.0%
Farmers & Merchants Investments Inc 在 Q2 2025 季度的美股部位總計估值為 US$41.3億，分散於 1729 個持倉標的之中，反映其市場參與廣度與投資規模。
Q2 2025 數據顯示 Farmers & Merchants Investments Inc 積極進場，新開立 0 個部位並同步加碼 35 檔個股，反映機構在該季度的資金注入與籌碼積累。
從部位權重觀察，前 5 大標的（包含 IVV, VEA, NNI）累計市值佔比達 20.0%，是驅動 Farmers & Merchants Investments Inc 該季度整體投資組合績效表現的核心支柱。
僅顯示前 200 大持股（共 1729 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 | IVV | Ishares Core S&p 500 ETF | ETF-大型股與成長 | 7.13% | +0.10% | +2.51% | |
| 2 | VEA | Vanguard Ftse Developed ETF | ETF-其他 | 5.19% | +0.03% | +1.83% | |
| 3 | NNI | Nelnet Inc-cl A | 股票-其他 | 4.25% | -0.40% | -0.21% | |
| 4 | MSFT | Microsoft CORP | 股票-科技 | 3.96% | -0.24% | +0.04% | |
| 5 | IJR | Ishares Core S&p Small-cap E | ETF-中小型股 | 3.58% | -0.15% | +8.34% | |
| 6 | IJH | Ishares Core S&p Midcap ETF | ETF-其他 | 3.13% | +0.11% | +8.41% | |
| 7 | AAPL | Apple Inc | 股票-科技 | 2.73% | +0.06% | +1.13% | |
| 8 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 2.39% | -0.21% | +3.56% | |
| 9 | AVGO | Broadcom Inc | 股票-科技 | 1.85% | +0.06% | -3.66% | |
| 10 | BND | Vanguard Total Bond Market | ETF-其他 | 1.65% | -0.19% | +3.91% | |
| 11 | SLQD | Ishares 0-5 Yr Inv Grd CORP | ETF-其他 | 1.49% | -0.15% | -2.24% | |
| 12 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 1.42% | -0.10% | +0.14% | |
| 13 | ORCL | Oracle CORP | 股票-科技 | 1.39% | -0.10% | -5.61% | |
| 14 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.34% | -0.02% | -3.51% | |
| 15 | WMT | Walmart Inc | 股票-非循環性消費 | 1.30% | -0.33% | -0.57% | |
| 16 | APH | Amphenol Corp-cl A | 股票-科技 | 1.09% | +0.31% | -3.05% | |
| 17 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.05% | +0.15% | -2.36% | |
| 18 | WCC | Wesco International Inc | 股票-工業 | 1.04% | +0.13% | +1.77% | |
| 19 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.99% | +0.15% | +7.62% | |
| 20 | BRK-A | Berkshire Hathaway Inc-cl A | 股票-其他 | 0.98% | -0.08% | — | |
| 21 | AMZN | Amazon.com Inc | 股票-循環性消費 | 0.96% | +0.06% | +10.72% | |
| 22 | NVDA | Nvidia CORP | 股票-科技 | 0.88% | +0.08% | +22.37% | |
| 23 | XOM | Exxon Mobil CORP | 股票-能源 | 0.86% | -0.35% | +1.33% | |
| 24 | LOW | Lowe's Cos Inc | 股票-循環性消費 | 0.84% | -0.14% | +1.35% | |
| 25 | AMD | Advanced Micro Devices | 股票-科技 | 0.84% | +1.63% | -1.09% | |
| 26 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.76% | +0.14% | +1.21% | |
| 27 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.75% | -0.08% | +4.11% | |
| 28 | V | Visa Inc-class A Shares | 股票-金融 | 0.75% | -0.01% | -2.96% | |
| 29 | EMR | Emerson Electric Co | 股票-工業 | 0.74% | -0.02% | +0.03% | |
| 30 | PEP | Pepsico Inc | 股票-非循環性消費 | 0.70% | -0.17% | +4.25% | |
| 31 | ABT | Abbott Laboratories | 股票-醫療保健 | 0.69% | -0.10% | -3.12% | |
| 32 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.67% | -0.06% | +0.17% | |
| 33 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 0.67% | +0.23% | +5.62% | |
| 34 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.65% | +0.04% | +0.92% | |
| 35 | CSCO | Cisco Systems Inc | 股票-科技 | 0.63% | +0.21% | -0.76% | |
| 36 | ROP | Roper Technologies Inc | 股票-科技 | 0.63% | -0.06% | -7.25% | |
| 37 | TXN | Texas Instruments Inc | 股票-科技 | 0.63% | +0.21% | -0.02% | |
| 38 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 0.61% | +0.01% | +9.07% | |
| 39 | APD | Air Products & Chemicals Inc | 股票-原物料 | 0.61% | -0.06% | +1.78% | |
| 40 | MCD | Mcdonald's CORP | 股票-循環性消費 | 0.60% | -0.13% | -1.74% | |
| 41 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.60% | +0.16% | +7.02% | |
| 42 | VCSH | Vanguard S/t CORP Bond ETF | ETF-投資等級公司債 | 0.58% | -0.12% | +5.88% | |
| 43 | PANW | Palo Alto Networks Inc | 股票-科技 | 0.57% | +0.42% | +6.11% | |
| 44 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.57% | -0.04% | +1.65% | |
| 45 | UNP | Union Pacific CORP | 股票-工業 | 0.57% | -0.01% | -2.81% | |
| 46 | BAC | Bank Of America CORP | 股票-金融 | 0.56% | +0.02% | +4.68% | |
| 47 | CVS | Cvs Health CORP | 股票-醫療保健 | 0.54% | +0.14% | +1.69% | |
| 48 | COF | Capital One Financial CORP | 股票-金融 | 0.53% | — | -2.71% | |
| 49 | CVX | Chevron CORP | 股票-能源 | 0.50% | -0.19% | +0.19% | |
| 50 | SYK | Stryker CORP | 股票-醫療保健 | 0.50% | -0.07% | -2.44% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +0.7% | +0.04% | 加碼 |
| 2 | AVGO | Broadcom Inc | +0.6% | -3.66% | 減碼 |
| 3 | CRM | Salesforce Inc | +0.4% | +4156.59% | 加碼 |
| 4 | ORCL | Oracle CORP | +0.4% | -5.61% | 減碼 |
| 5 | NVDA | Nvidia CORP | +0.4% | +22.37% | 加碼 |
| 6 | IVV | Ishares Core S&p 500 ETF | +0.3% | +2.51% | 加碼 |
| 7 | APH | Amphenol Corp-cl A | +0.3% | -3.05% | 減碼 |
| 8 | VEA | Vanguard Ftse Developed ETF | +0.2% | +1.83% | 加碼 |
| 9 | IJH | Ishares Core S&p Midcap ETF | +0.2% | +8.41% | 加碼 |
| 10 | AMD | Advanced Micro Devices | +0.2% | -1.09% | 減碼 |
| 11 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | +5.62% | 加碼 |
| 12 | AMZN | Amazon.com Inc | +0.1% | +10.72% | 加碼 |
| 13 | IJR | Ishares Core S&p Small-cap E | +0.1% | +8.34% | 加碼 |
| 14 | GOOGL | Alphabet Inc-cl A | +0.1% | +7.62% | 加碼 |
| 15 | GS | Goldman Sachs Group Inc | +0.1% | +0.92% | 加碼 |
| 16 | WCC | Wesco International Inc | +0.1% | +1.77% | 加碼 |
| 17 | VWO | Vanguard Ftse Emerging Marke | +0.1% | +3.56% | 加碼 |
| 18 | EMR | Emerson Electric Co | +0.1% | +0.03% | 加碼 |
| 19 | DIS | Walt Disney Co/the | +0.1% | +1.65% | 加碼 |
| 20 | PANW | Palo Alto Networks Inc | +0.1% | +6.11% | 加碼 |
| 21 | USB | US Bancorp | +0.1% | +22.51% | 加碼 |
| 22 | SPGI | S&p Global Inc | +0.1% | +1972.77% | 加碼 |
| 23 | JPM | Jpmorgan Chase & Co | +0.1% | -3.51% | 減碼 |
| 24 | VOO | Vanguard S&p 500 ETF | +0.1% | +9.07% | 加碼 |
| 25 | BLK | Blackrock Inc | +0.1% | +14.27% | 加碼 |
| 26 | DELL | Dell Technologies -c | +0.1% | -0.97% | 減碼 |
| 27 | UBER | Uber Technologies Inc | +0.1% | +3.90% | 加碼 |
| 28 | ASML | ASML Holding N.V. | +0.1% | +4.81% | 加碼 |
| 29 | NFLX | Netflix Inc | +0.1% | +0.09% | 加碼 |
| 30 | GOOG | Alphabet Inc-cl C | 0% | +1.21% | 加碼 |
| 31 | BAC | Bank Of America CORP | 0% | +4.68% | 加碼 |
| 32 | TXN | Texas Instruments Inc | 0% | -0.02% | 減碼 |
| 33 | NKE | Nike Inc -cl B | 0% | +7.74% | 加碼 |
| 34 | COF | Capital One Financial CORP | 0% | -2.71% | 減碼 |
| 35 | WMT | Walmart Inc | 0% | -0.57% | 減碼 |
| 36 | CSCO | Cisco Systems Inc | 0% | -0.76% | 減碼 |
| 37 | NNI | Nelnet Inc-cl A | — | -0.21% | 減碼 |
| 38 | BND | Vanguard Total Bond Market | -0.1% | +3.91% | 加碼 |
| 39 | ICLR | ICON Public Limited Company | -0.1% | +2.55% | 加碼 |
| 40 | ABBV | Abbvie Inc | -0.1% | -2.46% | 減碼 |
| 41 | PEP | Pepsico Inc | -0.1% | +4.25% | 加碼 |
| 42 | CVX | Chevron CORP | -0.1% | +0.19% | 加碼 |
| 43 | ROP | Roper Technologies Inc | -0.1% | -7.25% | 減碼 |
| 44 | FISV | Fiserv Inc | -0.2% | +0.88% | 加碼 |
| 45 | XOM | Exxon Mobil CORP | -0.2% | +1.33% | 加碼 |
| 46 | BRK-A | Berkshire Hathaway Inc-cl A | -0.2% | — | 不變 |
| 47 | LLY | Eli Lilly & Co | -0.2% | -2.36% | 減碼 |
| 48 | BRK-B | Berkshire Hathaway Inc-cl B | -0.3% | +0.14% | 加碼 |
| 49 | UNH | Unitedhealth Group Inc | -0.4% | +7.02% | 加碼 |
| 50 | AAPL | Apple Inc | -0.5% | +1.13% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Farmers & Merchants Investments Inc 在 Q2 2025 季度的美股持倉總市值約為 US$41.3億，共申報了 1729 個公開持股部位。
在 Q2 2025 季度，Farmers & Merchants Investments Inc 按市值排列的前三大核心持股分別為：IVV (7.1%)、VEA (5.2%)、NNI (4.3%)。其中最大持股部位 IVV 佔據整體投資組合約 7.1% 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。
本季最大獲利了結 / 清倉標的
NNI
前期市值: US$1.3億
在 Q2 2025 季度中，Farmers & Merchants Investments Inc 共進行了 49 項持倉異動，包含新建倉 0 個部位、加碼 35 個部位、減碼 14 個部位以及清倉 0 個部位。
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。