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: 0000036029
申報總市值
US$53.4億
US$53.4億
234 檔
22.3%
截至 Q3 2025 季度末，First Financial Bankshares Inc 的美股持倉估值約為 US$53.4億，全數申報部位共有 234 檔。
觀察 Q3 2025 的申報異動，First Financial Bankshares Inc 採取了強勁的買進策略，建倉與加碼動作（合計 32 筆）涵蓋多個核心板塊，展現機構對特定產業前景之樂觀態度。
檢視投資組合結構，前 5 大主力部位（包含 MSFT, AVGO, JPM）占據了總市值的 22.3%，展現出該機構在 Q3 2025 的重點資金聚焦與風險分佈特徵。
僅顯示前 200 大持股（共 234 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 | 6.70% | -0.15% | -0.10% | |
| 2 | AVGO | Broadcom Inc | 股票-科技 | 5.27% | +0.51% | -2.30% | |
| 3 | JPM | Jpmorgan Chase & Co | 股票-金融 | 4.71% | +0.13% | -8.29% | |
| 4 | BND | Vanguard Total Bond Market | ETF-其他 | 3.98% | -0.39% | +2.84% | |
| 5 | AAPL | Apple Inc | 股票-科技 | 3.84% | +0.23% | +1.53% | |
| 6 | IJH | Ishares Core S&p Midcap ETF | ETF-其他 | 3.74% | +0.31% | +1.65% | |
| 7 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 3.62% | +0.60% | +1.22% | |
| 8 | VEA | Vanguard Ftse Developed ETF | ETF-其他 | 2.66% | +0.09% | -0.21% | |
| 9 | JNJ | Johnson & Johnson | 股票-醫療保健 | 2.64% | -0.07% | +1.54% | |
| 10 | BX | Blackstone Inc | 股票-金融 | 2.53% | -0.09% | -1.25% | |
| 11 | CVX | Chevron CORP | 股票-能源 | 2.02% | -0.68% | +0.28% | |
| 12 | MCD | Mcdonald's CORP | 股票-循環性消費 | 1.96% | -0.18% | +0.56% | |
| 13 | NVDA | Nvidia CORP | 股票-科技 | 1.95% | +0.18% | -3.16% | |
| 14 | WMB | Williams Cos Inc | 股票-能源 | 1.90% | -0.11% | -0.52% | |
| 15 | ETN | Eaton Corporation plc | 股票-工業 | 1.90% | +0.16% | +0.15% | |
| 16 | BAC | Bank Of America CORP | 股票-金融 | 1.78% | +0.15% | +0.53% | |
| 17 | BLK | Blackrock Inc | 股票-金融 | 1.63% | -0.09% | -1.10% | |
| 18 | VCSH | Vanguard S/t CORP Bond ETF | ETF-投資等級公司債 | 1.62% | -0.09% | -0.97% | |
| 19 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.56% | +0.12% | +2.66% | |
| 20 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.56% | -0.30% | +2.13% | |
| 21 | HON | Honeywell International Inc | 股票-工業 | 1.54% | -1.66% | EXIT | |
| 22 | VGSH | Vanguard Short-term Treasury | ETF-政府公債 | 1.54% | -0.09% | +4.36% | |
| 23 | NEE | Nextera Energy Inc | 股票-公用事業 | 1.47% | -0.21% | +1.77% | |
| 24 | AEP | American Electric Power | 股票-公用事業 | 1.46% | -0.05% | +0.66% | |
| 25 | CSCO | Cisco Systems Inc | 股票-科技 | 1.45% | +0.62% | -1.97% | |
| 26 | C | Citigroup Inc | 股票-金融 | 1.38% | +0.18% | -1.49% | |
| 27 | MDT | Medtronic plc | 股票-醫療保健 | 1.35% | -0.16% | +1.98% | |
| 28 | KO | Coca-cola Co/the | 股票-非循環性消費 | 1.29% | — | +3.01% | |
| 29 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.29% | -0.11% | +8.62% | |
| 30 | AMGN | Amgen Inc | 股票-醫療保健 | 1.28% | -0.06% | +0.71% | |
| 31 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.24% | — | +1.86% | |
| 32 | ARE | Alexandria Real Estate Equit | 股票-房地產 | 1.19% | +0.01% | +5.06% | |
| 33 | COP | Conocophillips | 股票-能源 | 1.15% | -0.35% | +1.10% | |
| 34 | LMT | Lockheed Martin CORP | 股票-工業 | 1.13% | -0.26% | -0.66% | |
| 35 | AMT | American Tower CORP | 股票-房地產 | 1.09% | -0.16% | +104.85% | |
| 36 | HD | Home Depot Inc | 股票-循環性消費 | 1.07% | +0.01% | +1.21% | |
| 37 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 1.07% | +0.04% | -0.14% | |
| 38 | MDLZ | Mondelez International Inc-a | 股票-非循環性消費 | 1.05% | -0.06% | +2.75% | |
| 39 | LHX | L3harris Technologies Inc | 股票-工業 | 1.05% | -0.25% | -2.03% | |
| 40 | WMT | Walmart Inc | 股票-非循環性消費 | 1.04% | -0.06% | -1.32% | |
| 41 | MU | Micron Technology Inc | 股票-科技 | 1.00% | +1.45% | +151.21% | |
| 42 | NOW | Servicenow Inc | 股票-科技 | 0.91% | — | +85.75% | |
| 43 | VMBS | Vanguard Mortgage-backed Sec | ETF-其他 | 0.90% | -0.28% | +1.37% | |
| 44 | NI | Nisource Inc | 股票-公用事業 | 0.88% | -0.06% | -0.89% | |
| 45 | XLU | St Sr Utl Sl Se Spdr Etf-usd | ETF-其他 | 0.82% | -0.32% | +2.25% | |
| 46 | MA | Mastercard Inc - A | 股票-金融 | 0.79% | -0.01% | +1.68% | |
| 47 | UNP | Union Pacific CORP | 股票-工業 | 0.67% | +0.04% | +52.44% | |
| 48 | ORCL | Oracle CORP | 股票-科技 | 0.63% | +0.05% | +6.53% | |
| 49 | NVS | Novartis Ag-sponsored Adr | 股票-醫療保健 | 0.59% | -0.02% | +0.15% | |
| 50 | IJR | Ishares Core S&p Small-cap E | ETF-中小型股 | 0.56% | +0.39% | -18.35% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | AVGO | Broadcom Inc | +2.4% | -2.30% | 減碼 |
| 2 | MSFT | Microsoft CORP | +1.6% | -0.10% | 加碼 |
| 3 | GOOGL | Alphabet Inc-cl A | +1.6% | +1.22% | 加碼 |
| 4 | NVDA | Nvidia CORP | +1% | -3.16% | 加碼 |
| 5 | ETN | Eaton Corporation plc | +0.6% | +0.15% | 加碼 |
| 6 | JPM | Jpmorgan Chase & Co | +0.6% | -8.29% | 減碼 |
| 7 | ARE | Alexandria Real Estate Equit | +0.5% | +5.06% | 加碼 |
| 8 | AMT | American Tower CORP | +0.5% | +104.85% | 加碼 |
| 9 | NOW | Servicenow Inc | +0.5% | +85.75% | 加碼 |
| 10 | IJH | Ishares Core S&p Midcap ETF | +0.4% | +1.65% | 加碼 |
| 11 | C | Citigroup Inc | +0.4% | -1.49% | 減碼 |
| 12 | BX | Blackstone Inc | +0.3% | -1.25% | 減碼 |
| 13 | META | Meta Platforms Inc-class A | +0.3% | +8.62% | 加碼 |
| 14 | LHX | L3harris Technologies Inc | +0.3% | -2.03% | 加碼 |
| 15 | ORCL | Oracle CORP | +0.3% | +6.53% | 加碼 |
| 16 | ACDC | Profrac Holding Corp-a | +0.3% | +30.11% | 加碼 |
| 17 | VEA | Vanguard Ftse Developed ETF | +0.3% | -0.21% | 減碼 |
| 18 | BAC | Bank Of America CORP | +0.3% | +0.53% | 加碼 |
| 19 | NEE | Nextera Energy Inc | +0.3% | +1.77% | 加碼 |
| 20 | AMZN | Amazon.com Inc | +0.3% | +2.66% | 加碼 |
| 21 | JNJ | Johnson & Johnson | +0.2% | +1.54% | 加碼 |
| 22 | UNP | Union Pacific CORP | +0.2% | +52.44% | 加碼 |
| 23 | BLK | Blackrock Inc | +0.2% | -1.10% | 減碼 |
| 24 | VGLT | Vanguard Long-term Treasury | +0.2% | +24.11% | 加碼 |
| 25 | AAPL | Apple Inc | +0.2% | +1.53% | 減碼 |
| 26 | VWO | Vanguard Ftse Emerging Marke | +0.1% | -0.14% | 加碼 |
| 27 | CSCO | Cisco Systems Inc | +0.1% | -1.97% | 加碼 |
| 28 | WMT | Walmart Inc | +0.1% | -1.32% | 減碼 |
| 29 | PSX | Phillips 66 | +0.1% | +1723.69% | 加碼 |
| 30 | BND | Vanguard Total Bond Market | +0.1% | +2.84% | 加碼 |
| 31 | PEP | Pepsico Inc | +0.1% | +2.13% | 加碼 |
| 32 | HD | Home Depot Inc | +0.1% | +1.21% | 加碼 |
| 33 | XLU | St Sr Utl Sl Se Spdr Etf-usd | +0.1% | +2.25% | 加碼 |
| 34 | MDT | Medtronic plc | +0.1% | +1.98% | 加碼 |
| 35 | VGSH | Vanguard Short-term Treasury | +0.1% | +4.36% | 加碼 |
| 36 | LMT | Lockheed Martin CORP | +0.1% | -0.66% | 減碼 |
| 37 | AMD | Advanced Micro Devices | -0.2% | +14.81% | 減碼 |
| 38 | VNQ | Vanguard Real Estate ETF | -0.2% | +3.17% | 減碼 |
| 39 | AMGN | Amgen Inc | -0.2% | +0.71% | 加碼 |
| 40 | CPT | Camden Property Trust | -0.2% | -97.00% | 減碼 |
| 41 | CVX | Chevron CORP | -0.2% | +0.28% | 加碼 |
| 42 | ADBE | Adobe Inc | -0.4% | -98.69% | 減碼 |
| 43 | INVH | Invitation Homes Inc | -0.4% | -14.95% | 減碼 |
| 44 | CRM | Salesforce Inc | -0.4% | -88.38% | 減碼 |
| 45 | SLB | Slb LTD | -0.5% | -97.99% | 減碼 |
| 46 | MDLZ | Mondelez International Inc-a | -0.6% | +2.75% | 減碼 |
| 47 | FFIN | First Finl Bankshares Inc | — | EXIT | 清倉 |
| 48 | MU | Micron Technology Inc | — | NEW | 新建倉 |
| 49 | AVB | Avalonbay Communities Inc | — | NEW | 新建倉 |
| 50 | VT | Vanguard Tot World Stk ETF | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，First Financial Bankshares Inc 在 Q3 2025 季度的美股持倉總市值約為 US$53.4億，共申報了 234 個公開持股部位。
在 Q3 2025 季度，First Financial Bankshares Inc 按市值排列的前三大核心持股分別為：MSFT (6.7%)、AVGO (5.3%)、JPM (4.7%)。其中最大持股部位 MSFT 佔據整體投資組合約 6.7% 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
MU
市值: US$4874.6萬
本季最大獲利了結 / 清倉標的
FFIN
前期市值: US$6.2億
在 Q3 2025 季度中，First Financial Bankshares Inc 共進行了 50 項持倉異動，包含新建倉 3 個部位、加碼 29 個部位、減碼 17 個部位以及清倉 1 個部位。 其中最大新建倉標的為 MU。 本季清倉部位包含 FFIN。
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。