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: 0001491719
申報總市值
US$7.3億
US$7.3億
186 檔
47.6%
根據最新整理的 13F 季度數據集，Lombard Odier Asset Management 於 Q4 2025 結束時的管理資產規模為 US$7.3億。該機構在本季度申報了 186 檔美股持倉，呈現出該時期的主要投資地圖。
Lombard Odier Asset Management 在 Q4 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 140 檔，反映機構對當前市場環境或個別公司估值採取較為保留之看法。
整體而言，Lombard Odier Asset Management 的前 5 大持股（包含 SPY, AAL, AAPL）貢獻了組合市值的 47.6%，形成該機構在 Q4 2025 季度的基本面基石。
| # | 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 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 8.74% | -16.99% | EXIT | |
| 2 | AAL | American Airlines Group Inc | 股票-工業 | 8.49% | +8.26% | — | |
| 3 | AAPL | Apple Inc | 股票-科技 | 5.11% | +2.67% | — | |
| 4 | GDX | Vaneck Gold Miners ETF | ETF-避險與商品 | 4.92% | — | +2.92% | |
| 5 | XOP | Ss Spdr S&p Og Exp & Prod | ETF-其他 | 4.91% | — | -0.48% | |
| 6 | RIVN | Rivian Automotive Inc-a | 股票-循環性消費 | 4.67% | +1.10% | +0.65% | |
| 7 | CAR | Avis Budget Group Inc | 股票-其他 | 4.12% | -3.42% | — | |
| 8 | TLT | Ishares 20+ Year Treasury Bd | ETF-政府公債 | 3.38% | +0.46% | -6.71% | |
| 9 | BMY | Bristol-myers Squibb Co | 股票-醫療保健 | 3.01% | +0.92% | — | |
| 10 | GILD | Gilead Sciences Inc | 股票-醫療保健 | 2.68% | +0.62% | — | |
| 11 | C | Citigroup Inc | 股票-金融 | 2.60% | -2.84% | EXIT | |
| 12 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 2.54% | +0.94% | — | |
| 13 | PBF | Pbf Energy Inc-class A | 股票-能源 | 2.40% | — | — | |
| 14 | RIVN 4.625 03-15-29債券 | Rivian Auto Inc | 債券 | 1.76% | +0.77% | — | |
| 15 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 1.67% | -1.13% | EXIT | |
| 16 | PFE | Pfizer Inc | 股票-醫療保健 | 1.53% | +0.25% | -26.67% | |
| 17 | MET | Metlife Inc | 股票-金融 | 1.47% | +0.85% | — | |
| 18 | NEM | Newmont CORP | 股票-原物料 | 1.39% | -1.13% | EXIT | |
| 19 | NCLH 1.125 02-15-27債券 | Ncl Corporation LTD | 債券 | 1.35% | -1.49% | EXIT | |
| 20 | MSTR 0.875 03-15-31債券 | Strategy Inc | 債券 | 1.34% | +0.15% | — | |
| 21 | SPG | Simon Property Group Inc | 股票-房地產 | 1.03% | +0.65% | — | |
| 22 | BAC | Bank Of America CORP | 股票-金融 | 1.02% | +1.96% | — | |
| 23 | VOD | Vodafone Group Plc-sp Adr | 股票-通訊服務 | 0.98% | — | — | |
| 24 | KMI | Kinder Morgan, Inc. | 股票-能源 | 0.92% | +0.43% | -4.33% | |
| 25 | CSCO | Cisco Systems Inc | 股票-科技 | 0.86% | +0.97% | — | |
| 26 | NCLH | Norwegian Cruise Line Holdings Ltd. | 股票-循環性消費 | 0.83% | +0.38% | — | |
| 27 | CAG | Conagra Brands Inc | 股票-非循環性消費 | 0.82% | +0.07% | +2.02% | |
| 28 | FCX | Freeport-mcmoran Inc | 股票-原物料 | 0.74% | +0.38% | -17.49% | |
| 29 | FDX | Fedex CORP | 股票-工業 | 0.67% | +0.12% | +13.76% | |
| 30 | CZR | Caesars Entertainment Inc | 股票-循環性消費 | 0.62% | +0.25% | +28.30% | |
| 31 | F | Ford Motor Co | 股票-循環性消費 | 0.61% | +1.88% | -37.50% | |
| 32 | COMP | Compass Inc - Class A | 股票-房地產 | 0.56% | +0.53% | — | |
| 33 | KOS 3.125 03-15-30債券 | Kosmos Energy LTD | 債券 | 0.56% | +0.25% | — | |
| 34 | SLV | Ishares Silver Trust | ETF-避險與商品 | 0.56% | — | +3.56% | |
| 35 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.55% | -0.03% | -3.85% | |
| 36 | TGT | Target CORP | 股票-循環性消費 | 0.55% | +0.48% | — | |
| 37 | UNIT 7.5 12-01-27債券 | Uniti Group Inc | 債券 | 0.54% | +0.23% | — | |
| 38 | HLF | Herbalife Ltd. | 股票-其他 | 0.48% | +0.11% | — | |
| 39 | IBM | Intl Business Machines CORP | 股票-科技 | 0.48% | -0.10% | — | |
| 40 | VZ | Verizon Communications Inc | 股票-通訊服務 | 0.47% | -0.18% | -53.41% | |
| 41 | BHC | Bausch Health Cos Inc | 股票-醫療保健 | 0.43% | +2.33% | -61.19% | |
| 42 | DCH | Dauch Corporation | 股票-其他 | 0.41% | +0.05% | -3.50% | |
| 43 | CLF | Cleveland-cliffs Inc | 股票-原物料 | 0.41% | +0.16% | -4.35% | |
| 44 | UPS | United Parcel Service-cl B | 股票-工業 | 0.37% | +0.23% | — | |
| 45 | MUR | Murphy Oil CORP | 股票-能源 | 0.37% | — | -5.24% | |
| 46 | KSS | Kohls CORP | 股票-循環性消費 | 0.34% | +0.20% | -80.65% | |
| 47 | TLN | Talen Energy CORP | 股票-公用事業 | 0.32% | +0.05% | +101.08% | |
| 48 | NBR | Nabors Industries Ltd. | 股票-其他 | 0.30% | +0.01% | -4.68% | |
| 49 | AER | AerCap Holdings N.V. | 股票-工業 | 0.28% | -0.02% | -12.22% | |
| 50 | MSTR | Strategy Inc | 股票-科技 | 0.28% | -0.03% | +413.16% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | AAL | American Airlines Group Inc | +4% | — | 不變 |
| 2 | RIVN | Rivian Automotive Inc-a | +2.2% | +0.65% | 加碼 |
| 3 | GDX | Vaneck Gold Miners ETF | +1.8% | +2.92% | 加碼 |
| 4 | C | Citigroup Inc | +1.2% | +20.00% | 加碼 |
| 5 | BMY | Bristol-myers Squibb Co | +1.2% | — | 不變 |
| 6 | XOP | Ss Spdr S&p Og Exp & Prod | +1.2% | -0.48% | 減碼 |
| 7 | MRK | Merck & Co. Inc. | +1.1% | — | 不變 |
| 8 | GILD | Gilead Sciences Inc | +0.9% | — | 不變 |
| 9 | RIVN 4.625 03-15-29債券 | Rivian Auto Inc | +0.7% | — | 不變 |
| 10 | TLT | Ishares 20+ Year Treasury Bd | +0.7% | -6.71% | 減碼 |
| 11 | NEM | Newmont CORP | +0.5% | — | 不變 |
| 12 | PBF | Pbf Energy Inc-class A | +0.5% | — | 不變 |
| 13 | CAR | Avis Budget Group Inc | +0.4% | — | 不變 |
| 14 | UNH | Unitedhealth Group Inc | +0.4% | -5.00% | 減碼 |
| 15 | BAC | Bank Of America CORP | +0.3% | — | 不變 |
| 16 | FDX | Fedex CORP | +0.3% | +13.76% | 加碼 |
| 17 | CSCO | Cisco Systems Inc | +0.3% | — | 不變 |
| 18 | SLV | Ishares Silver Trust | +0.3% | +3.56% | 加碼 |
| 19 | HLF | Herbalife Ltd. | +0.3% | — | 不變 |
| 20 | GOOGL | Alphabet Inc-cl A | +0.2% | -3.85% | 減碼 |
| 21 | CZR | Caesars Entertainment Inc | +0.2% | +28.30% | 加碼 |
| 22 | KMI | Kinder Morgan, Inc. | +0.2% | -4.33% | 減碼 |
| 23 | MSTR | Strategy Inc | +0.2% | +413.16% | 加碼 |
| 24 | TLN | Talen Energy CORP | +0.2% | +101.08% | 加碼 |
| 25 | NCLH | Norwegian Cruise Line Holdings Ltd. | +0.2% | — | 不變 |
| 26 | UPS | United Parcel Service-cl B | +0.2% | — | 不變 |
| 27 | NBR | Nabors Industries Ltd. | +0.1% | -4.68% | 減碼 |
| 28 | GM | General Motors Co | +0.1% | -6.13% | 減碼 |
| 29 | ODFL | Old Dominion Freight Line | +0.1% | +237.86% | 加碼 |
| 30 | SLB | Slb LTD | +0.1% | +80.77% | 加碼 |
| 31 | WFRD | Weatherford International plc | +0.1% | +28.26% | 加碼 |
| 32 | PRM | Perimeter Solutions Inc | +0.1% | +7.26% | 加碼 |
| 33 | AN | Autonation Inc | +0.1% | +428.93% | 加碼 |
| 34 | ADBE | Adobe Inc | +0.1% | +251.26% | 加碼 |
| 35 | BSX | Boston Scientific CORP | 0% | -20.54% | 減碼 |
| 36 | MCK | Mckesson CORP | 0% | -31.11% | 減碼 |
| 37 | AJG | Arthur J Gallagher & Co | 0% | -10.74% | 減碼 |
| 38 | BRO | Brown & Brown Inc | 0% | -9.20% | 減碼 |
| 39 | MSFT | Microsoft CORP | — | -21.83% | 減碼 |
| 40 | PFE | Pfizer Inc | 0% | -26.67% | 減碼 |
| 41 | AZO | Autozone Inc | 0% | -13.73% | 減碼 |
| 42 | MSI | Motorola Solutions Inc | 0% | -21.56% | 減碼 |
| 43 | PHM | Pultegroup Inc | 0% | -34.28% | 減碼 |
| 44 | MHK | Mohawk Industries Inc | 0% | -25.34% | 減碼 |
| 45 | SIMO | Silicon Motion Technol-adr | 0% | -44.45% | 減碼 |
| 46 | SNX | TD Synnex CORP | 0% | -50.05% | 減碼 |
| 47 | UBER | Uber Technologies Inc | 0% | -45.19% | 減碼 |
| 48 | WCN | Waste Connections Inc | 0% | -50.13% | 減碼 |
| 49 | KOS | Kosmos Energy LTD | 0% | — | 不變 |
| 50 | F | Ford Motor Co | 0% | -37.50% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Lombard Odier Asset Management 在 Q4 2025 季度的美股持倉總市值約為 US$7.3億，共申報了 186 個公開持股部位。
在 Q4 2025 季度，Lombard Odier Asset Management 按市值排列的前三大核心持股分別為：SPY (8.7%)、AAL (8.5%)、AAPL (5.1%)。其中最大持股部位 SPY 佔據整體投資組合約 8.7% 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
AAPL
市值: US$5499.0萬
本季最大獲利了結 / 清倉標的
CMCSA
前期市值: US$2356.5萬
在 Q4 2025 季度中，Lombard Odier Asset Management 共進行了 183 項持倉異動，包含新建倉 29 個部位、加碼 14 個部位、減碼 66 個部位以及清倉 74 個部位。 其中最大新建倉標的為 AAPL。 本季清倉部位包含 CMCSA。
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。