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: 0000898358
申報總市值
US$47.9億
US$47.9億
501 檔
15.4%
在 Q3 2025 申報期間，Kornitzer Capital Management Inc /ks（CIK: 0000898358）向美國 SEC 提交的 Form 13F 報告顯示，其追蹤之股票投資組合總市值達 US$47.9億，共持有 501 個公開申報部位。
從 Q3 2025 申報觀察，Kornitzer Capital Management Inc /ks 採取防禦導向的調倉策略，本季減碼 99 檔個股並出清 28 檔部位，顯示機構在該時期進行風險控制與流動性回收。
從部位權重觀察，前 5 大標的（包含 MSFT, CVX, AAPL）累計市值佔比達 15.4%，是驅動 Kornitzer Capital Management Inc /ks 該季度整體投資組合績效表現的核心支柱。
本季最大新建倉標的
HLT
市值: US$1463.9萬
本季最大獲利了結 / 清倉標的
HES
前期市值: US$9263.8萬
僅顯示前 200 大持股（共 501 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 | 5.74% | -0.24% | -1.52% | |
| 2 | CVX | Chevron CORP | 股票-能源 | 3.13% | -0.92% | +122.71% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 2.22% | +0.15% | +0.14% | |
| 4 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.89% | +0.58% | +2.43% | |
| 5 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 1.86% | -0.19% | +1.29% | |
| 6 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.70% | +0.42% | -1.10% | |
| 7 | XOM | Exxon Mobil CORP | 股票-能源 | 1.54% | -2.39% | EXIT | |
| 8 | AJG | Arthur J Gallagher & Co | 股票-金融 | 1.54% | +0.02% | -4.43% | |
| 9 | KMI | Kinder Morgan, Inc. | 股票-能源 | 1.50% | -0.14% | +0.53% | |
| 10 | IBM | Intl Business Machines CORP | 股票-科技 | 1.46% | +0.17% | -0.59% | |
| 11 | WM | Waste Management Inc | 股票-工業 | 1.41% | -0.10% | +0.23% | |
| 12 | JNJ | Johnson & Johnson | 股票-醫療保健 | 1.29% | — | -0.50% | |
| 13 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.29% | -0.10% | -2.52% | |
| 14 | CSCO | Cisco Systems Inc | 股票-科技 | 1.22% | +0.59% | -0.68% | |
| 15 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.16% | -0.20% | +0.41% | |
| 16 | QCOM | Qualcomm Inc | 股票-科技 | 1.15% | +0.34% | -1.00% | |
| 17 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.14% | -0.04% | -3.46% | |
| 18 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 1.12% | -0.02% | -0.51% | |
| 19 | NVDA | Nvidia CORP | 股票-科技 | 1.10% | +0.07% | -0.49% | |
| 20 | WMT | Walmart Inc | 股票-非循環性消費 | 1.07% | -0.20% | -1.32% | |
| 21 | ABT | Abbott Laboratories | 股票-醫療保健 | 1.03% | -0.16% | -0.74% | |
| 22 | COP | Conocophillips | 股票-能源 | 1.00% | -0.36% | -0.25% | |
| 23 | SLB | Slb LTD | 股票-能源 | 0.99% | -0.25% | +0.08% | |
| 24 | ALL | Allstate CORP | 股票-金融 | 0.97% | +0.12% | -1.70% | |
| 25 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.92% | +0.04% | +1.26% | |
| 26 | APA | Apa CORP | 股票-能源 | 0.91% | -0.44% | +7.49% | |
| 27 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.85% | +0.03% | -1.22% | |
| 28 | VZ | Verizon Communications Inc | 股票-通訊服務 | 0.81% | -0.20% | -0.96% | |
| 29 | GD | General Dynamics CORP | 股票-工業 | 0.75% | -0.01% | -1.77% | |
| 30 | GILD | Gilead Sciences Inc | 股票-醫療保健 | 0.75% | -0.14% | -4.29% | |
| 31 | KMB | Kimberly-clark CORP | 股票-非循環性消費 | 0.72% | +0.07% | -0.24% | |
| 32 | TFC | Truist Financial CORP | 股票-金融 | 0.66% | +0.03% | -3.14% | |
| 33 | ✓ | 股票-其他 | 0.64% | — | -2.76% | ||
| 34 | PFE | Pfizer Inc | 股票-醫療保健 | 0.64% | -0.11% | +0.17% | |
| 35 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 0.62% | +0.29% | -1.46% | |
| 36 | VST | Vistra CORP | 股票-公用事業 | 0.61% | +0.01% | -14.21% | |
| 37 | MLM | Martin Marietta Materials | 股票-原物料 | 0.61% | -0.07% | -0.79% | |
| 38 | ABBNY | Abb Ltd-spon Adr | 股票-工業 | 0.58% | +0.10% | -0.40% | |
| 39 | MSCI | Msci Inc | 股票-金融 | 0.58% | -0.17% | -2.65% | |
| 40 | MELI | Mercadolibre Inc | 股票-循環性消費 | 0.57% | -0.07% | +0.82% | |
| 41 | SHEL | Shell Plc-adr | 股票-能源 | 0.57% | -0.16% | -1.40% | |
| 42 | VEEV | Veeva Systems Inc-class A | 股票-醫療保健 | 0.56% | -0.26% | — | |
| 43 | CINF | Cincinnati Financial CORP | 股票-金融 | 0.53% | +0.06% | -0.46% | |
| 44 | DINO | Hf Sinclair CORP | 股票-能源 | 0.52% | +0.04% | -0.79% | |
| 45 | T | At&t Inc | 股票-通訊服務 | 0.52% | -0.18% | -1.66% | |
| 46 | CLX | Clorox Company | 股票-非循環性消費 | 0.51% | -0.05% | -0.91% | |
| 47 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 0.49% | — | -2.53% | |
| 48 | V | Visa Inc-class A Shares | 股票-金融 | 0.48% | +0.05% | -0.11% | |
| 49 | NEM | Newmont CORP | 股票-原物料 | 0.47% | -0.11% | -2.79% | |
| 50 | AZNN | Astrazeneca Plc-spons Adr | 股票-其他 | 0.46% | — | +2.25% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CVX | Chevron CORP | +1.6% | +122.71% | 加碼 |
| 2 | MSFT | Microsoft CORP | +1.3% | -1.52% | 減碼 |
| 3 | GOOGL | Alphabet Inc-cl A | +0.6% | -1.10% | 減碼 |
| 4 | NVDA | Nvidia CORP | +0.5% | -0.49% | 加碼 |
| 5 | MLM | Martin Marietta Materials | +0.3% | -0.79% | 加碼 |
| 6 | META | Meta Platforms Inc-class A | +0.2% | -2.52% | 減碼 |
| 7 | APA | Apa CORP | +0.2% | +7.49% | 加碼 |
| 8 | ALNY | Alnylam Pharmaceuticals Inc | +0.2% | +2.27% | 加碼 |
| 9 | VST | Vistra CORP | +0.2% | -14.21% | 減碼 |
| 10 | DINO | Hf Sinclair CORP | +0.2% | -0.79% | 減碼 |
| 11 | NEM | Newmont CORP | +0.2% | -2.79% | 減碼 |
| 12 | AVAV | Aerovironment Inc | +0.2% | -0.73% | 加碼 |
| 13 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | -1.46% | 減碼 |
| 14 | BIRK | Birkenstock Holding plc | +0.2% | +12.05% | 加碼 |
| 15 | VRT | Vertiv Holdings Co-a | +0.2% | -11.16% | 減碼 |
| 16 | AVGO | Broadcom Inc | +0.2% | +1.00% | 加碼 |
| 17 | AMZN | Amazon.com Inc | +0.1% | -3.46% | 減碼 |
| 18 | GD | General Dynamics CORP | +0.1% | -1.77% | 減碼 |
| 19 | VEEV | Veeva Systems Inc-class A | +0.1% | — | 不變 |
| 20 | SNOW | Snowflake Inc | +0.1% | +13.15% | 加碼 |
| 21 | IBM | Intl Business Machines CORP | +0.1% | -0.59% | 減碼 |
| 22 | ✓ | +0.1% | -2.76% | 減碼 | |
| 23 | ABBNY | Abb Ltd-spon Adr | +0.1% | -0.40% | 減碼 |
| 24 | CIEN | Ciena CORP | +0.1% | — | 不變 |
| 25 | GOOG | Alphabet Inc-cl C | +0.1% | +0.95% | 加碼 |
| 26 | TREX | Trex Company Inc | +0.1% | +16.11% | 加碼 |
| 27 | WMT | Walmart Inc | +0.1% | -1.32% | 減碼 |
| 28 | WLDN | Willdan Group Inc | +0.1% | +161.50% | 加碼 |
| 29 | GWW | Ww Grainger Inc | +0.1% | +282.45% | 加碼 |
| 30 | CRDO | Credo Technology Group Holding Ltd | +0.1% | — | 不變 |
| 31 | CSCO | Cisco Systems Inc | +0.1% | -0.68% | 減碼 |
| 32 | WT | Wisdomtree Inc | +0.1% | — | 不變 |
| 33 | RELX | Relx PLC - Spon Adr | +0.1% | — | 加碼 |
| 34 | ADMA | Adma Biologics Inc | +0.1% | +652.01% | 加碼 |
| 35 | JNJ | Johnson & Johnson | +0.1% | -0.50% | 減碼 |
| 36 | MELI | Mercadolibre Inc | +0.1% | +0.82% | 減碼 |
| 37 | ASML | ASML Holding N.V. | +0.1% | -0.28% | 減碼 |
| 38 | MEDP | Medpace Holdings Inc | +0.1% | — | 加碼 |
| 39 | CRH | CRH plc | +0.1% | — | 減碼 |
| 40 | RTX | Rtx CORP | +0.1% | -1.31% | 減碼 |
| 41 | CFG | Citizens Financial Group | +0.1% | -3.26% | 減碼 |
| 42 | GLW | Corning Inc | +0.1% | -8.62% | 減碼 |
| 43 | FAST | Fastenal Co | +0.1% | +77.26% | 加碼 |
| 44 | MYRG | Myr Group Inc/delaware | +0.1% | — | 不變 |
| 45 | BKNG | Booking Holdings Inc | +0.1% | -2.53% | 減碼 |
| 46 | LYV | Live Nation Entertainment In | +0.1% | — | 不變 |
| 47 | PCOR | Procore Technologies Inc | +0.1% | -11.67% | 加碼 |
| 48 | VCEL | Vericel CORP | +0.1% | +4.56% | 加碼 |
| 49 | ELF | Elf Beauty Inc | +0.1% | -35.47% | 減碼 |
| 50 | DXCM | Dexcom Inc | +0.1% | -4.91% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Kornitzer Capital Management Inc /ks 在 Q3 2025 季度的美股持倉總市值約為 US$47.9億，共申報了 501 個公開持股部位。
在 Q3 2025 季度，Kornitzer Capital Management Inc /ks 按市值排列的前三大核心持股分別為：MSFT (5.7%)、CVX (3.1%)、AAPL (2.2%)。其中最大持股部位 MSFT 佔據整體投資組合約 5.7% 的權重。
在 Q3 2025 季度中，Kornitzer Capital Management Inc /ks 共進行了 193 項持倉異動，包含新建倉 42 個部位、加碼 24 個部位、減碼 99 個部位以及清倉 28 個部位。 其中最大新建倉標的為 HLT。 本季清倉部位包含 HES。
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。
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。
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。