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: 0000850529
申報總市值
US$3358.3億
US$3358.3億
1017 檔
20.3%
Fisher Asset Management, LLC 在 Q4 2025 季度的美股部位總計估值為 US$3358.3億，分散於 1017 個持倉標的之中，反映其市場參與廣度與投資規模。
Q4 2025 數據顯示 Fisher Asset Management, LLC 積極進場，新開立 2 個部位並同步加碼 39 檔個股，反映機構在該季度的資金注入與籌碼積累。
在資產配置集中度方面，Fisher Asset Management, LLC 的前 5 大核心持股（包含 NVDA, AAPL, IEF 等）合計佔整體申報市值的 20.3%，反映機構在主要關鍵部位上的權重分佈。
僅顯示前 200 大持股（共 1017 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 | NVDA | Nvidia CORP | 股票-科技 | 5.48% | +0.18% | +1.77% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 5.12% | +0.10% | +1.29% | |
| 3 | IEF | Ishares 7-10 Year Treasury B | ETF-政府公債 | 4.43% | -0.23% | +53.81% | |
| 4 | MSFT | Microsoft CORP | 股票-科技 | 4.18% | -0.30% | +1.84% | |
| 5 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 4.07% | +0.45% | +1.55% | |
| 6 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.65% | +0.07% | +1.48% | |
| 7 | VCIT | Vanguard Int-term Corporate | ETF-投資等級公司債 | 2.40% | -0.14% | +4.14% | |
| 8 | GS | Goldman Sachs Group Inc | 股票-金融 | 2.03% | +0.14% | +1.65% | |
| 9 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 1.88% | +0.55% | +1.76% | |
| 10 | CAT | Caterpillar Inc | 股票-工業 | 1.86% | +0.80% | +0.57% | |
| 11 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.76% | — | +1.88% | |
| 12 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.69% | +0.30% | +3.44% | |
| 13 | ASML | ASML Holding N.V. | 股票-科技 | 1.64% | +0.75% | +3.04% | |
| 14 | AVGO | Broadcom Inc | 股票-科技 | 1.64% | +0.16% | +9.77% | |
| 15 | WMT | Walmart Inc | 股票-非循環性消費 | 1.54% | -0.33% | +0.81% | |
| 16 | MS | Morgan Stanley | 股票-金融 | 1.52% | +0.20% | +2.14% | |
| 17 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.49% | -0.16% | +1.75% | |
| 18 | RTX | Rtx CORP | 股票-工業 | 1.36% | -0.17% | +2.96% | |
| 19 | C | Citigroup Inc | 股票-金融 | 1.35% | +0.17% | +2.56% | |
| 20 | XOM | Exxon Mobil CORP | 股票-能源 | 1.29% | -0.58% | +0.97% | |
| 21 | SAP | Sap Se-sponsored Adr | 股票-科技 | 1.22% | -0.15% | +1.23% | |
| 22 | HD | Home Depot Inc | 股票-循環性消費 | 1.19% | -0.06% | +0.24% | |
| 23 | AXP | American Express Co | 股票-金融 | 1.14% | — | +1.60% | |
| 24 | CVX | Chevron CORP | 股票-能源 | 1.12% | -0.72% | +1.51% | |
| 25 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 1.11% | -0.05% | +0.98% | |
| 26 | UBS | UBS Group AG | 股票-金融 | 1.01% | +0.08% | +4.80% | |
| 27 | BAC | Bank Of America CORP | 股票-金融 | 1.01% | +0.05% | +2.10% | |
| 28 | SONY | Sony Group CORP - Sp Adr | 股票-科技 | 0.95% | -0.11% | +4.14% | |
| 29 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.93% | -0.18% | +0.99% | |
| 30 | V | Visa Inc-class A Shares | 股票-金融 | 0.90% | — | +1.71% | |
| 31 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.89% | +0.39% | +3.35% | |
| 32 | MA | Mastercard Inc - A | 股票-金融 | 0.85% | -0.08% | +1.10% | |
| 33 | BP | Bp Plc-spons Adr | 股票-能源 | 0.79% | -0.33% | +1.45% | |
| 34 | BCS | Barclays Plc-spons Adr | 股票-金融 | 0.78% | +0.09% | +4.33% | |
| 35 | SCHW | Schwab (charles) CORP | 股票-金融 | 0.74% | -0.11% | +0.79% | |
| 36 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 0.73% | -0.14% | -2.69% | |
| 37 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.70% | -0.31% | +1.66% | |
| 38 | SHEL | Shell Plc-adr | 股票-能源 | 0.68% | -0.23% | +1.24% | |
| 39 | AZNN | Astrazeneca Plc-spons Adr | 股票-其他 | 0.68% | — | +2.07% | |
| 40 | BLK | Blackrock Inc | 股票-金融 | 0.67% | -0.18% | -4.09% | |
| 41 | NFLX | Netflix Inc | 股票-通訊服務 | 0.66% | -0.23% | +907.46% | |
| 42 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.63% | +0.24% | +4.97% | |
| 43 | ORCL | Oracle CORP | 股票-科技 | 0.62% | +0.10% | +2.98% | |
| 44 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.60% | +0.64% | +0.78% | |
| 45 | CMI | Cummins Inc | 股票-工業 | 0.59% | +0.12% | +1.30% | |
| 46 | COF | Capital One Financial CORP | 股票-金融 | 0.57% | -0.14% | -4.92% | |
| 47 | GSK | Gsk Plc-spon Adr | 股票-醫療保健 | 0.56% | -0.09% | +3.00% | |
| 48 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.55% | -0.04% | +2.62% | |
| 49 | RIO | Rio Tinto Plc-spon Adr | 股票-原物料 | 0.54% | -0.06% | +2.73% | |
| 50 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.53% | -0.05% | -0.91% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | IEF | Ishares 7-10 Year Treasury B | +1.4% | +53.81% | 加碼 |
| 2 | GOOGL | Alphabet Inc-cl A | +0.8% | +1.55% | 加碼 |
| 3 | LLY | Eli Lilly & Co | +0.5% | +3.44% | 加碼 |
| 4 | CAT | Caterpillar Inc | +0.2% | +0.57% | 加碼 |
| 5 | FCX | Freeport-mcmoran Inc | +0.2% | +0.98% | 加碼 |
| 6 | MRK | Merck & Co. Inc. | +0.2% | +3.35% | 加碼 |
| 7 | C | Citigroup Inc | +0.1% | +2.56% | 加碼 |
| 8 | BCS | Barclays Plc-spons Adr | +0.1% | +4.33% | 加碼 |
| 9 | AVGO | Broadcom Inc | +0.1% | +9.77% | 加碼 |
| 10 | GS | Goldman Sachs Group Inc | +0.1% | +1.65% | 加碼 |
| 11 | ASML | ASML Holding N.V. | +0.1% | +3.04% | 加碼 |
| 12 | MS | Morgan Stanley | +0.1% | +2.14% | 加碼 |
| 13 | AAPL | Apple Inc | +0.1% | +1.29% | 加碼 |
| 14 | UBS | UBS Group AG | +0.1% | +4.80% | 加碼 |
| 15 | ISRG | Intuitive Surgical Inc | +0.1% | -2.69% | 減碼 |
| 16 | AZNN | Astrazeneca Plc-spons Adr | +0.1% | +2.07% | 加碼 |
| 17 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | +1.76% | 加碼 |
| 18 | RTX | Rtx CORP | +0.1% | +2.96% | 加碼 |
| 19 | CMI | Cummins Inc | +0.1% | +1.30% | 加碼 |
| 20 | RIO | Rio Tinto Plc-spon Adr | +0.1% | +2.73% | 加碼 |
| 21 | AXP | American Express Co | +0.1% | +1.60% | 加碼 |
| 22 | TMO | Thermo Fisher Scientific Inc | +0.1% | +2.62% | 加碼 |
| 23 | CSCO | Cisco Systems Inc | +0.1% | +867.00% | 加碼 |
| 24 | JNJ | Johnson & Johnson | +0.1% | +4.97% | 加碼 |
| 25 | GSK | Gsk Plc-spon Adr | +0.1% | +3.00% | 加碼 |
| 26 | WMT | Walmart Inc | 0% | +0.81% | 加碼 |
| 27 | BAC | Bank Of America CORP | 0% | +2.10% | 加碼 |
| 28 | AMZN | Amazon.com Inc | 0% | +1.48% | 加碼 |
| 29 | XOM | Exxon Mobil CORP | 0% | +0.97% | 加碼 |
| 30 | VCIT | Vanguard Int-term Corporate | -0.1% | +4.14% | 加碼 |
| 31 | ITUB | Itau Unibanco H-spon Prf Adr | -0.1% | -53.53% | 減碼 |
| 32 | LII | Lennox International Inc | -0.1% | -94.71% | 減碼 |
| 33 | INTU | Intuit Inc | -0.1% | -9.60% | 減碼 |
| 34 | NOW | Servicenow Inc | -0.1% | +404.33% | 加碼 |
| 35 | SPOT | Spotify Technology S.A. | -0.1% | +2.42% | 加碼 |
| 36 | BLK | Blackrock Inc | -0.1% | -4.09% | 減碼 |
| 37 | SONY | Sony Group CORP - Sp Adr | -0.2% | +4.14% | 加碼 |
| 38 | SAP | Sap Se-sponsored Adr | -0.2% | +1.23% | 加碼 |
| 39 | NFLX | Netflix Inc | -0.2% | +907.46% | 加碼 |
| 40 | NVDA | Nvidia CORP | -0.2% | +1.77% | 加碼 |
| 41 | META | Meta Platforms Inc-class A | -0.2% | +1.75% | 加碼 |
| 42 | ORCL | Oracle CORP | -0.3% | +2.98% | 加碼 |
| 43 | HD | Home Depot Inc | -0.3% | +0.24% | 加碼 |
| 44 | MSFT | Microsoft CORP | -0.5% | +1.84% | 加碼 |
| 45 | SPTL | Ss Spdr Pf Lng Trm Tsy E-usd | -0.6% | -98.17% | 減碼 |
| 46 | MBB | Ishares Mbs ETF | -0.8% | -95.31% | 減碼 |
| 47 | UL | Unilever Plc-sponsored Adr | — | NEW | 新建倉 |
| 48 | UL | Unilever PLC | — | EXIT | 清倉 |
| 49 | TTE | TotalEnergies SE | — | NEW | 新建倉 |
| 50 | TTEN | Totalenergies Se -spon Adr | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Fisher Asset Management, LLC 在 Q4 2025 季度的美股持倉總市值約為 US$3358.3億，共申報了 1017 個公開持股部位。
在 Q4 2025 季度，Fisher Asset Management, LLC 按市值排列的前三大核心持股分別為：NVDA (5.5%)、AAPL (5.1%)、IEF (4.4%)。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
UL
市值: US$13.5億
本季最大獲利了結 / 清倉標的
UL
前期市值: US$13.4億
在 Q4 2025 季度中，Fisher Asset Management, LLC 共進行了 50 項持倉異動，包含新建倉 2 個部位、加碼 39 個部位、減碼 7 個部位以及清倉 2 個部位。 其中最大新建倉標的為 UL。 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。