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: 0000712534
申報總市值
US$28.4億
US$28.4億
370 檔
20.8%
Q4 2025 季度申報顯示，First Merchants CORP 揭露的美股組合總市值為 US$28.4億，涵蓋 370 個不同之權益投資部位。
在 Q4 2025，First Merchants CORP 操作展現出積極擴展與加碼意向。本季共新建倉 0 個新部位，並對 29 個既有持股進行加碼（合計增持 29 檔），相較減碼與清倉部位顯著佔優。
檢視投資組合結構，前 5 大主力部位（包含 FMPW INST MONEY, VFIAX, FTRLX）占據了總市值的 20.8%，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 370 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 | ✓ | Fmpw Inst Money | 股票-其他 | 7.70% | -0.68% | +4.35% | |
| 2 | VFIAX | Vanguard 500 Index-adm | 股票-其他 | 5.00% | +0.18% | +0.83% | |
| 3 | FTRLX | Fed Herm Ttl Rtrn Bnd-r6 | 股票-其他 | 3.41% | -0.31% | +4.98% | |
| 4 | SRBRX | Federated Shrt-intrm Ttl-r6 | 股票-其他 | 3.39% | -0.19% | +5.19% | |
| 5 | VIMAX | Vanguard Mid Cap Index-adm | 股票-其他 | 2.41% | +0.03% | +2.33% | |
| 6 | BSV | Vanguard Short-term Bond ETF | ETF-其他 | 2.36% | -0.24% | +3.96% | |
| 7 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.17% | +0.27% | -3.12% | |
| 8 | AAPL | Apple Inc | 股票-科技 | 2.05% | +0.06% | -1.58% | |
| 9 | LLY | Eli Lilly & Co | 股票-醫療保健 | 2.01% | +0.37% | -0.34% | |
| 10 | AVGO | Broadcom Inc | 股票-科技 | 1.92% | +0.14% | -9.13% | |
| 11 | MSFT | Microsoft CORP | 股票-科技 | 1.88% | -0.07% | +2.53% | |
| 12 | SFNNX | Schwab Fndmnl Intl Lrg Comp | 股票-其他 | 1.73% | +0.02% | +3.66% | |
| 13 | FCNTX | Fidelity Contrafund | 股票-其他 | 1.35% | +0.10% | -5.11% | |
| 14 | VEIRX | Vanguard Equity Income-adm | 股票-其他 | 1.35% | -0.03% | +0.43% | |
| 15 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 1.31% | +0.13% | +4.05% | |
| 16 | IYW | Ishares Ustechnology ETF | ETF-科技型 | 1.26% | +0.30% | -1.06% | |
| 17 | IVW | Ishares S&p 500 Growth ETF | ETF-大型股與成長 | 1.19% | +0.14% | -1.81% | |
| 18 | AGG | Ishares Core U.s. Aggregate | ETF-其他 | 1.18% | -0.14% | -2.78% | |
| 19 | NUSFX | Northern Ultra-shrt Fix Inc | 股票-其他 | 1.18% | -0.04% | +2.39% | |
| 20 | NVDA | Nvidia CORP | 股票-科技 | 1.16% | +0.02% | +5.34% | |
| 21 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.12% | +0.05% | +2.43% | |
| 22 | VGT | Vanguard Info Tech ETF | ETF-科技型 | 1.09% | +0.36% | +4.38% | |
| 23 | VBIRX | Vanguard S/t Bnd Indx-adm | 股票-其他 | 1.09% | -0.18% | +2.23% | |
| 24 | APH | Amphenol Corp-cl A | 股票-科技 | 1.04% | +0.25% | -8.45% | |
| 25 | IJR | Ishares Core S&p Small-cap E | ETF-中小型股 | 0.97% | +0.07% | -2.41% | |
| 26 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.96% | +0.12% | -0.75% | |
| 27 | JMGRX | Janus Hndrsn Enterprise-i | 股票-其他 | 0.96% | +0.08% | +7.19% | |
| 28 | VSMAX | Vanguard Sml Cap Indx-adm | 股票-其他 | 0.92% | +0.03% | -4.36% | |
| 29 | LRCX | Lam Research CORP | 股票-科技 | 0.87% | +0.72% | -0.95% | |
| 30 | BIV | Vanguard Intermediate-term B | ETF-其他 | 0.85% | -0.09% | +1.54% | |
| 31 | VWILX | Vanguard Intl Growth-adm | 股票-其他 | 0.83% | +0.07% | +7.15% | |
| 32 | V | Visa Inc-class A Shares | 股票-金融 | 0.80% | +0.12% | +0.59% | |
| 33 | MVCKX | Mfs Mid Cap Value Fund-r5 | 股票-其他 | 0.79% | +0.04% | +9.96% | |
| 34 | FRME | First Merchants CORP | 股票-其他 | 0.74% | +0.03% | -0.93% | |
| 35 | SYK | Stryker CORP | 股票-醫療保健 | 0.73% | — | +0.31% | |
| 36 | WMT | Walmart Inc | 股票-非循環性消費 | 0.73% | -0.23% | +1.03% | |
| 37 | PZIEX | Pzena Emerg Mkts Val-inst | 股票-其他 | 0.71% | +0.02% | +9.19% | |
| 38 | IVE | Ishares S&p 500 Value ETF | ETF-大型股與成長 | 0.68% | +0.01% | +1.11% | |
| 39 | VIGAX | Vanguard Growth Index-adm | 股票-其他 | 0.67% | +0.02% | -5.44% | |
| 40 | AVUV | Avantis US Small Cap Value | ETF-中小型股 | 0.66% | +0.08% | +12.70% | |
| 41 | VWIUX | Vanguard I/t Tax Exmpt-adm | 股票-其他 | 0.65% | +0.08% | +9.04% | |
| 42 | MFAIX | Msif International Adv-i | 股票-其他 | 0.64% | +0.06% | +6.59% | |
| 43 | TJX | Tjx Companies Inc | 股票-循環性消費 | 0.60% | -0.07% | +0.94% | |
| 44 | VBTLX | Vanguard Ttl Bd Mkt Idx-adm | 股票-其他 | 0.60% | -0.09% | +0.36% | |
| 45 | WCMIX | Wcm Focused Intl Growth-inst | 股票-其他 | 0.59% | +0.03% | +0.49% | |
| 46 | LOW | Lowe's Cos Inc | 股票-循環性消費 | 0.57% | -0.08% | +0.88% | |
| 47 | IEFA | Ishares Core Msci Eafe ETF | ETF-其他 | 0.55% | +0.01% | +1.38% | |
| 48 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.54% | -0.16% | +0.52% | |
| 49 | DODIX | Dodge & Cox Income-i | 股票-其他 | 0.53% | -0.12% | -2.72% | |
| 50 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.52% | -0.04% | +13.25% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | LLY | Eli Lilly & Co | +0.6% | -0.34% | 減碼 |
| 2 | GOOGL | Alphabet Inc-cl A | +0.4% | -3.12% | 減碼 |
| 3 | ✓ | Fmpw Inst Money | +0.2% | +4.35% | 加碼 |
| 4 | LRCX | Lam Research CORP | +0.2% | -0.95% | 減碼 |
| 5 | SRBRX | Federated Shrt-intrm Ttl-r6 | +0.1% | +5.19% | 加碼 |
| 6 | FTRLX | Fed Herm Ttl Rtrn Bnd-r6 | +0.1% | +4.98% | 加碼 |
| 7 | BALL | Ball CORP | +0.1% | +125.87% | 加碼 |
| 8 | AVUV | Avantis US Small Cap Value | +0.1% | +12.70% | 加碼 |
| 9 | VFIAX | Vanguard 500 Index-adm | +0.1% | +0.83% | 加碼 |
| 10 | SFNNX | Schwab Fndmnl Intl Lrg Comp | +0.1% | +3.66% | 加碼 |
| 11 | AAPL | Apple Inc | +0.1% | -1.58% | 減碼 |
| 12 | AME | Ametek Inc | +0.1% | +22.97% | 加碼 |
| 13 | SPGI | S&p Global Inc | +0.1% | +19.69% | 加碼 |
| 14 | VOO | Vanguard S&p 500 ETF | +0.1% | +4.05% | 加碼 |
| 15 | AMZN | Amazon.com Inc | +0.1% | +2.43% | 加碼 |
| 16 | XLV | Ss Health Care Select Sector | +0.1% | +9.26% | 加碼 |
| 17 | ✓ | +0.1% | — | 不變 | |
| 18 | PZIEX | Pzena Emerg Mkts Val-inst | +0.1% | +9.19% | 加碼 |
| 19 | WMT | Walmart Inc | +0.1% | +1.03% | 加碼 |
| 20 | AZNN | Astrazeneca Plc-spons Adr | +0.1% | +1.59% | 加碼 |
| 21 | VWIUX | Vanguard I/t Tax Exmpt-adm | +0.1% | +9.04% | 加碼 |
| 22 | ACN | Accenture plc | +0.1% | +5.69% | 加碼 |
| 23 | JNJ | Johnson & Johnson | +0.1% | +1.03% | 加碼 |
| 24 | BSV | Vanguard Short-term Bond ETF | 0% | +3.96% | 加碼 |
| 25 | NVDA | Nvidia CORP | 0% | +5.34% | 加碼 |
| 26 | VGT | Vanguard Info Tech ETF | 0% | +4.38% | 加碼 |
| 27 | CB | Chubb Limited | 0% | +0.27% | 加碼 |
| 28 | MFAIX | Msif International Adv-i | 0% | +6.59% | 加碼 |
| 29 | TJX | Tjx Companies Inc | 0% | +0.94% | 加碼 |
| 30 | BRO | Brown & Brown Inc | -0.1% | -1.26% | 減碼 |
| 31 | IJK | Ishares S&p Mid-cap 400 Grow | -0.1% | -10.32% | 減碼 |
| 32 | NOW | Servicenow Inc | -0.1% | +413.20% | 加碼 |
| 33 | ADBE | Adobe Inc | -0.1% | -49.55% | 減碼 |
| 34 | VPMAX | Vanguard Primecap Fund-adm | -0.1% | -49.39% | 減碼 |
| 35 | HD | Home Depot Inc | -0.1% | -0.84% | 減碼 |
| 36 | ORLY | O'reilly Automotive Inc | -0.1% | +2.55% | 加碼 |
| 37 | GSY | Invesco Ultra Short Duration | -0.1% | -10.69% | 減碼 |
| 38 | IJJ | Ishares S&p Mid-cap 400 Valu | -0.1% | -9.94% | 減碼 |
| 39 | VWNAX | Vanguard Windsor Ii-adm | -0.1% | -30.50% | 減碼 |
| 40 | NOMIX | Northern Mid Cap Index | -0.1% | -12.33% | 減碼 |
| 41 | WCMIX | Wcm Focused Intl Growth-inst | -0.1% | +0.49% | 加碼 |
| 42 | ZTS | Zoetis Inc | -0.1% | -42.03% | 減碼 |
| 43 | ADP | Automatic Data Processing | -0.1% | -0.98% | 減碼 |
| 44 | VEIRX | Vanguard Equity Income-adm | -0.1% | +0.43% | 加碼 |
| 45 | MSFT | Microsoft CORP | -0.1% | +2.53% | 加碼 |
| 46 | CMCSA | Comcast Corp-class A | -0.1% | -56.90% | 減碼 |
| 47 | FCNTX | Fidelity Contrafund | -0.1% | -5.11% | 減碼 |
| 48 | AVGO | Broadcom Inc | -0.1% | -9.13% | 減碼 |
| 49 | ✓ | Grant County State | -0.2% | -34.22% | 減碼 |
| 50 | RETSX | Russell Tax-mgd US L/c-s | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，First Merchants CORP 在 Q4 2025 季度的美股持倉總市值約為 US$28.4億，共申報了 370 個公開持股部位。
在 Q4 2025 季度，First Merchants CORP 按市值排列的前三大核心持股分別為：FMPW INST MONEY (7.7%)、VFIAX (5.0%)、FTRLX (3.4%)。其中最大持股部位 FMPW INST MONEY 佔據整體投資組合約 7.7% 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。
本季最大獲利了結 / 清倉標的
RETSX
前期市值: US$128.2萬
在 Q4 2025 季度中，First Merchants CORP 共進行了 49 項持倉異動，包含新建倉 0 個部位、加碼 29 個部位、減碼 19 個部位以及清倉 1 個部位。 本季清倉部位包含 RETSX。
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。