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: 0001207017
申報總市值
US$660.6億
US$660.6億
1834 檔
13.2%
截至 Q4 2025 季度末，Lazard Asset Management LLC 的美股持倉估值約為 US$660.6億，全數申報部位共有 1834 檔。
在 Q4 2025，Lazard Asset Management LLC 展現出較為審慎的避險與獲利了結姿態。本季共減碼 121 個部位並完全清倉 5 檔持股，調降曝險的部位數量高於加碼動作。
整體而言，Lazard Asset Management LLC 的前 5 大持股（包含 MSFT, AAPL, AMZN）貢獻了組合市值的 13.2%，形成該機構在 Q4 2025 季度的基本面基石。
僅顯示前 200 大持股（共 1834 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 | 4.04% | -0.24% | -35.25% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 3.39% | +0.12% | -39.16% | |
| 3 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.83% | +0.17% | -37.63% | |
| 4 | NVDA | Nvidia CORP | 股票-科技 | 2.65% | +0.93% | +3.90% | |
| 5 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.87% | +0.24% | -50.75% | |
| 6 | AMT | American Tower CORP | 股票-房地產 | 1.81% | — | +36.30% | |
| 7 | CCI | Crown Castle Inc | 股票-房地產 | 1.75% | -0.07% | +124.19% | |
| 8 | EXC | Exelon CORP | 股票-公用事業 | 1.71% | +0.28% | +3.05% | |
| 9 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 1.67% | +0.54% | -28.71% | |
| 10 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.53% | +0.33% | +6.14% | |
| 11 | CNI | Canadian Natl Railway Co | 股票-工業 | 1.49% | -0.83% | -0.58% | |
| 12 | ✓ | Ferrovial Se | 股票-其他 | 1.48% | +0.17% | -38.69% | |
| 13 | AVGO | Broadcom Inc | 股票-科技 | 1.42% | -0.43% | -40.62% | |
| 14 | V | Visa Inc-class A Shares | 股票-金融 | 1.40% | +0.09% | -34.53% | |
| 15 | CSX | Csx CORP | 股票-工業 | 1.27% | -1.24% | -32.68% | |
| 16 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.22% | +0.17% | -38.20% | |
| 17 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.21% | -0.13% | -22.01% | |
| 18 | ED | Consolidated Edison Inc | 股票-公用事業 | 1.04% | +0.09% | +3.44% | |
| 19 | BAC | Bank Of America CORP | 股票-金融 | 0.98% | +0.04% | -46.71% | |
| 20 | ICE | Intercontinental Exchange In | 股票-金融 | 0.90% | -0.25% | -48.89% | |
| 21 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.87% | -0.21% | -40.17% | |
| 22 | APH | Amphenol Corp-cl A | 股票-科技 | 0.86% | +0.15% | -39.32% | |
| 23 | DHR | Danaher CORP | 股票-醫療保健 | 0.84% | -0.09% | -34.09% | |
| 24 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.79% | -0.28% | -37.61% | |
| 25 | HDB | Hdfc Bank Ltd-adr | 股票-金融 | 0.77% | — | +8.73% | |
| 26 | AON | Aon plc | 股票-金融 | 0.77% | -0.09% | +2.04% | |
| 27 | ADI | Analog Devices Inc | 股票-科技 | 0.74% | +0.09% | -41.75% | |
| 28 | TLK | Telkom Indonesia Persero-adr | 股票-其他 | 0.73% | -0.26% | +1.44% | |
| 29 | IQV | Iqvia Holdings Inc | 股票-醫療保健 | 0.72% | -0.23% | +3.15% | |
| 30 | INFY | Infosys Ltd-sp Adr | 股票-科技 | 0.69% | -0.05% | +18.93% | |
| 31 | QCOM | Qualcomm Inc | 股票-科技 | 0.66% | -0.04% | -32.27% | |
| 32 | BSX | Boston Scientific CORP | 股票-醫療保健 | 0.63% | -0.15% | -41.81% | |
| 33 | AMX | America Movil Sab De Cv | 股票-其他 | 0.62% | -0.05% | -0.20% | |
| 34 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.61% | -0.06% | -0.31% | |
| 35 | CRM | Salesforce Inc | 股票-科技 | 0.60% | -0.29% | -20.02% | |
| 36 | SLB | Slb LTD | 股票-能源 | 0.58% | -0.26% | +1.05% | |
| 37 | MU | Micron Technology Inc | 股票-科技 | 0.57% | +0.55% | -22.88% | |
| 38 | ADSK | Autodesk Inc | 股票-科技 | 0.56% | -0.11% | -3.39% | |
| 39 | CB | Chubb Limited | 股票-金融 | 0.56% | -0.04% | -41.98% | |
| 40 | SPGI | S&p Global Inc | 股票-金融 | 0.56% | -0.18% | -2.64% | |
| 41 | MDT | Medtronic plc | 股票-醫療保健 | 0.56% | -0.36% | -43.15% | |
| 42 | ASX | Ase Technology Holding -adr | 股票-科技 | 0.55% | +0.06% | +11.09% | |
| 43 | AME | Ametek Inc | 股票-工業 | 0.54% | +0.19% | -41.50% | |
| 44 | MRSH | Marsh & Mclennan Cos | 股票-金融 | 0.54% | -0.08% | -38.14% | |
| 45 | KLAC | Kla CORP | 股票-科技 | 0.53% | +0.40% | +406.93% | |
| 46 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 0.53% | +0.07% | -1.40% | |
| 47 | ACN | Accenture plc | 股票-科技 | 0.52% | -0.20% | -45.14% | |
| 48 | PAC | Grupo Aeroportuario Pac-adr | 股票-其他 | 0.52% | -0.03% | +21.84% | |
| 49 | WM | Waste Management Inc | 股票-工業 | 0.51% | -0.07% | -46.71% | |
| 50 | ROK | Rockwell Automation Inc | 股票-工業 | 0.50% | +0.15% | -46.32% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CCI | Crown Castle Inc | +1.1% | +124.19% | 加碼 |
| 2 | AMT | American Tower CORP | +0.7% | +36.30% | 加碼 |
| 3 | GOOG | Alphabet Inc-cl C | +0.6% | +6.14% | 加碼 |
| 4 | NVDA | Nvidia CORP | +0.6% | +3.90% | 加碼 |
| 5 | KLAC | Kla CORP | +0.5% | +406.93% | 加碼 |
| 6 | CNI | Canadian Natl Railway Co | +0.4% | -0.58% | 減碼 |
| 7 | ASX | Ase Technology Holding -adr | +0.3% | +11.09% | 加碼 |
| 8 | INFY | Infosys Ltd-sp Adr | +0.3% | +18.93% | 加碼 |
| 9 | IQV | Iqvia Holdings Inc | +0.3% | +3.15% | 加碼 |
| 10 | HDB | Hdfc Bank Ltd-adr | +0.2% | +8.73% | 加碼 |
| 11 | MU | Micron Technology Inc | +0.2% | -22.88% | 減碼 |
| 12 | PAC | Grupo Aeroportuario Pac-adr | +0.2% | +21.84% | 加碼 |
| 13 | TLK | Telkom Indonesia Persero-adr | +0.2% | +1.44% | 加碼 |
| 14 | ALL | Allstate CORP | +0.2% | +451.30% | 加碼 |
| 15 | ISRG | Intuitive Surgical Inc | +0.2% | -1.40% | 減碼 |
| 16 | USB | US Bancorp | +0.2% | +5250.63% | 加碼 |
| 17 | ASML | ASML Holding N.V. | +0.2% | +12.38% | 加碼 |
| 18 | TMO | Thermo Fisher Scientific Inc | +0.2% | -22.01% | 減碼 |
| 19 | VALE | Vale Sa-sp Adr | +0.2% | +0.93% | 加碼 |
| 20 | SLB | Slb LTD | +0.2% | +1.05% | 加碼 |
| 21 | MMM | 3m Co | +0.2% | +632.20% | 加碼 |
| 22 | LMT | Lockheed Martin CORP | +0.2% | +339.05% | 加碼 |
| 23 | AEE | Ameren Corporation | +0.2% | +6051.12% | 加碼 |
| 24 | PANW | Palo Alto Networks Inc | +0.2% | +59.25% | 加碼 |
| 25 | QLTY | Gmo U.s. Quality ETF | +0.1% | +65.11% | 加碼 |
| 26 | LRCX | Lam Research CORP | +0.1% | +135.08% | 加碼 |
| 27 | BMY | Bristol-myers Squibb Co | +0.1% | +292.03% | 加碼 |
| 28 | TJX | Tjx Companies Inc | +0.1% | +46.43% | 加碼 |
| 29 | ZBRA | Zebra Technologies Corp-cl A | +0.1% | +82.24% | 加碼 |
| 30 | LLY | Eli Lilly & Co | +0.1% | -38.20% | 減碼 |
| 31 | PGR | Progressive CORP | +0.1% | +1566.69% | 加碼 |
| 32 | HCA | Hca Healthcare Inc | +0.1% | +70.60% | 加碼 |
| 33 | TER | Teradyne Inc | +0.1% | -3.50% | 減碼 |
| 34 | TX | Ternium Sa-sponsored Adr | +0.1% | +0.91% | 加碼 |
| 35 | JNJ | Johnson & Johnson | +0.1% | +3.57% | 加碼 |
| 36 | IVV | Ishares Core S&p 500 ETF | +0.1% | +5.93% | 加碼 |
| 37 | PEP | Pepsico Inc | +0.1% | +16.16% | 加碼 |
| 38 | ARCO | Arcos Dorados Holdings Inc. | +0.1% | +6.67% | 加碼 |
| 39 | HPQ | Hp Inc | +0.1% | +625.03% | 加碼 |
| 40 | RTX | Rtx CORP | +0.1% | +412.65% | 加碼 |
| 41 | MGA | Magna International Inc | +0.1% | +128.76% | 加碼 |
| 42 | VLTO | Veralto CORP | +0.1% | +68.57% | 加碼 |
| 43 | B | Barrick Mining CORP | +0.1% | +1.50% | 加碼 |
| 44 | META | Meta Platforms Inc-class A | +0.1% | -0.31% | 減碼 |
| 45 | AZNN | Astrazeneca Plc-spons Adr | +0.1% | +0.20% | 加碼 |
| 46 | AMP | Ameriprise Financial Inc | +0.1% | +17.68% | 加碼 |
| 47 | CRM | Salesforce Inc | +0.1% | -20.02% | 減碼 |
| 48 | ADSK | Autodesk Inc | +0.1% | -3.39% | 減碼 |
| 49 | EAGL | Eagle Capital Select Eqty | +0.1% | +43.07% | 加碼 |
| 50 | DELL | Dell Technologies -c | +0.1% | +496.63% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Lazard Asset Management LLC 在 Q4 2025 季度的美股持倉總市值約為 US$660.6億，共申報了 1834 個公開持股部位。
在 Q4 2025 季度，Lazard Asset Management LLC 按市值排列的前三大核心持股分別為：MSFT (4.0%)、AAPL (3.4%)、AMZN (2.8%)。其中最大持股部位 MSFT 佔據整體投資組合約 4.0% 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
IR
市值: US$1.5億
本季最大獲利了結 / 清倉標的
UL
前期市值: US$2.0億
在 Q4 2025 季度中，Lazard Asset Management LLC 共進行了 200 項持倉異動，包含新建倉 5 個部位、加碼 69 個部位、減碼 121 個部位以及清倉 5 個部位。 其中最大新建倉標的為 IR。 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。