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。
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CIK: 0002011652
申報總市值
US$1.7億
US$1.7億
159 檔
32.7%
在 Q3 2025 申報期間，Lummis Asset Management, LP（CIK: 0002011652）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$1.7億，共持有 159 個公開申報部位。
數據顯示 Lummis Asset Management, LP 於 Q3 2025 季度持續回收資金，對 22 個既有部位進行裁減並清倉 4 個標的，組合整體流動性比重有所上升。
從部位權重觀察，前 5 大標的（包含 MTDR, AAPL, ORCL）累計市值佔比達 32.7%，是驅動 Lummis Asset Management, LP 該季度整體投資組合績效表現的核心支柱。
| # | 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 | MTDR | Matador Resources Co | 股票-能源 | 9.93% | -2.92% | +0.01% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 9.27% | +1.32% | +18.66% | |
| 3 | ORCL | Oracle CORP | 股票-科技 | 5.96% | -0.25% | -2.29% | |
| 4 | MSFT | Microsoft CORP | 股票-科技 | 5.40% | +0.38% | -52.44% | |
| 5 | BRK-B | Berkshire Hathaway Inc. | 股票-其他 | 5.38% | +0.30% | -0.06% | |
| 6 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 5.35% | +0.33% | -0.20% | |
| 7 | GD | General Dynamics CORP | 股票-工業 | 3.35% | +0.13% | -0.17% | |
| 8 | BSM | Black Stone Minerals LP | 股票-其他 | 2.94% | +0.10% | +0.07% | |
| 9 | GS | Goldman Sachs Group Inc | 股票-金融 | 2.77% | +0.38% | -3.38% | |
| 10 | ABT | Abbott Laboratories | 股票-醫療保健 | 2.73% | — | -32.17% | |
| 11 | TFPM | Triple Flag Precious Met | 股票-原物料 | 2.60% | -0.19% | -40.50% | |
| 12 | GOLF | Acushnet Holdings CORP | 股票-其他 | 2.28% | +0.38% | -1.54% | |
| 13 | ROST | Ross Stores Inc | 股票-循環性消費 | 2.22% | — | -1.14% | |
| 14 | AIG | American International Group | 股票-金融 | 2.16% | -0.01% | -0.19% | |
| 15 | AYI | Acuity Inc | 股票-工業 | 2.12% | +0.41% | -0.56% | |
| 16 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 2.09% | +0.19% | -0.06% | |
| 17 | EQIX | Equinix Inc | 股票-房地產 | 1.92% | -0.08% | — | |
| 18 | AMT | American Tower CORP | 股票-房地產 | 1.90% | -0.08% | — | |
| 19 | WFC | Wells Fargo & Co | 股票-金融 | 1.84% | +0.04% | -0.43% | |
| 20 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.67% | -0.83% | -0.08% | |
| 21 | JNJ | Johnson & Johnson | 股票-醫療保健 | 1.65% | +0.14% | -0.10% | |
| 22 | XOM | Exxon Mobil CORP | 股票-能源 | 1.60% | -0.12% | — | |
| 23 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.34% | +0.36% | — | |
| 24 | SCHW | Schwab (charles) CORP | 股票-金融 | 1.23% | +0.04% | -1.19% | |
| 25 | AMRZ | Amrize Ltd | 股票-原物料 | 1.12% | +0.19% | +251.36% | |
| 26 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.02% | +0.06% | — | |
| 27 | DG | Dollar General CORP | 股票-非循環性消費 | 1.01% | +0.01% | -0.07% | |
| 28 | KO | Coca-cola Co/the | 股票-非循環性消費 | 1.00% | +0.08% | -0.06% | |
| 29 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.95% | +0.17% | — | |
| 30 | SCHO | Schwab Short-term US Treas | ETF-其他 | 0.86% | -0.04% | +0.56% | |
| 31 | VGK | Vanguard Ftse Europe ETF | ETF-其他 | 0.85% | +0.08% | +5.53% | |
| 32 | DVN | Devon Energy CORP | 股票-能源 | 0.84% | -0.20% | +0.50% | |
| 33 | COP | Conocophillips | 股票-能源 | 0.80% | -0.12% | -0.18% | |
| 34 | VXUS | Vanguard Total Intl Stock | ETF-其他 | 0.73% | +0.09% | +7.53% | |
| 35 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.68% | +0.01% | — | |
| 36 | WMB | Williams Cos Inc | 股票-能源 | 0.63% | -0.01% | +0.26% | |
| 37 | CVX | Chevron CORP | 股票-能源 | 0.62% | — | — | |
| 38 | AMGN | Amgen Inc | 股票-醫療保健 | 0.62% | +0.08% | — | |
| 39 | SSBUSD | Southstate Bank CORP | 股票-其他 | 0.61% | +0.03% | -0.70% | |
| 40 | FFIN | First Finl Bankshares Inc | 股票-金融 | 0.55% | +0.05% | -0.25% | |
| 41 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.54% | +0.14% | — | |
| 42 | ITW | Illinois Tool Works | 股票-工業 | 0.52% | +0.03% | — | |
| 43 | ADP | Automatic Data Processing | 股票-科技 | 0.40% | +0.06% | -0.34% | |
| 44 | WTM | White Mountains Insurance Group, Ltd. | 股票-金融 | 0.36% | -0.02% | — | |
| 45 | CSCO | Cisco Systems Inc | 股票-科技 | 0.30% | +0.09% | — | |
| 46 | RTX | Rtx CORP | 股票-工業 | 0.30% | +0.06% | — | |
| 47 | LMT | Lockheed Martin CORP | 股票-工業 | 0.29% | +0.01% | — | |
| 48 | PSX | Phillips 66 | 股票-能源 | 0.27% | +0.06% | — | |
| 49 | APH | Amphenol Corp-cl A | 股票-科技 | 0.24% | +0.07% | -8.68% | |
| 50 | VTI | Vanguard Total Stock Mkt ETF | ETF-其他 | 0.23% | +0.03% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ORCL | Oracle CORP | +2.7% | -2.29% | 減碼 |
| 2 | GOOG | Alphabet Inc-cl C | +1.7% | -0.20% | 減碼 |
| 3 | TFPM | Triple Flag Precious Met | +0.8% | -40.50% | 減碼 |
| 4 | GS | Goldman Sachs Group Inc | +0.7% | -3.38% | 減碼 |
| 5 | GD | General Dynamics CORP | +0.5% | -0.17% | 減碼 |
| 6 | AYI | Acuity Inc | +0.4% | -0.56% | 減碼 |
| 7 | RTX | Rtx CORP | +0.3% | — | 加碼 |
| 8 | PSX | Phillips 66 | +0.3% | — | 加碼 |
| 9 | GOOGL | Alphabet Inc-cl A | +0.2% | — | 不變 |
| 10 | ROST | Ross Stores Inc | +0.2% | -1.14% | 減碼 |
| 11 | WFC | Wells Fargo & Co | +0.2% | -0.43% | 減碼 |
| 12 | VXUS | Vanguard Total Intl Stock | +0.2% | +7.53% | 加碼 |
| 13 | VGK | Vanguard Ftse Europe ETF | +0.1% | +5.53% | 加碼 |
| 14 | JNJ | Johnson & Johnson | +0.1% | -0.10% | 減碼 |
| 15 | SCHW | Schwab (charles) CORP | +0.1% | -1.19% | 減碼 |
| 16 | GOLF | Acushnet Holdings CORP | +0.1% | -1.54% | 減碼 |
| 17 | ABBV | Abbvie Inc | +0.1% | — | 不變 |
| 18 | AMZN | Amazon.com Inc | +0.1% | — | 不變 |
| 19 | APH | Amphenol Corp-cl A | +0.1% | -8.68% | 減碼 |
| 20 | DG | Dollar General CORP | +0.1% | -0.07% | 減碼 |
| 21 | BG | Bunge Global SA | 0% | +647.10% | 加碼 |
| 22 | UNH | Unitedhealth Group Inc | 0% | +441.30% | 加碼 |
| 23 | CVX | Chevron CORP | 0% | — | 減碼 |
| 24 | CSCO | Cisco Systems Inc | 0% | — | 不變 |
| 25 | JPM | Jpmorgan Chase & Co | 0% | — | 不變 |
| 26 | META | Meta Platforms Inc-class A | 0% | — | 不變 |
| 27 | GLD | Spdr Gold Shares | 0% | +10.48% | 加碼 |
| 28 | VTI | Vanguard Total Stock Mkt ETF | -0.1% | — | 減碼 |
| 29 | PG | Procter & Gamble Co/the | -0.1% | — | 不變 |
| 30 | DVN | Devon Energy CORP | -0.1% | +0.50% | 加碼 |
| 31 | XEL | Xcel Energy Inc | -0.1% | — | 減碼 |
| 32 | KO | Coca-cola Co/the | -0.2% | -0.06% | 減碼 |
| 33 | PEP | Pepsico Inc | -0.2% | -0.08% | 減碼 |
| 34 | EQIX | Equinix Inc | -0.3% | — | 不變 |
| 35 | LLY | Eli Lilly & Co | -0.3% | — | 不變 |
| 36 | AIG | American International Group | -0.4% | -0.19% | 減碼 |
| 37 | AMT | American Tower CORP | -0.4% | — | 不變 |
| 38 | BSM | Black Stone Minerals LP | -0.4% | +0.07% | 加碼 |
| 39 | AAPL | Apple Inc | -0.5% | +18.66% | 減碼 |
| 40 | BRK-B | Berkshire Hathaway Inc. | -0.7% | -0.06% | 減碼 |
| 41 | MTDR | Matador Resources Co | -0.8% | +0.01% | 加碼 |
| 42 | MSFT | Microsoft CORP | -3.6% | -52.44% | 減碼 |
| 43 | GTX | Garrett Motion Inc | — | EXIT | 清倉 |
| 44 | AMRZ | Amrize Ltd | — | NEW | 新建倉 |
| 45 | ✓ | Raytheon Technologies CORP | — | EXIT | 清倉 |
| 46 | BRK-B | Berkshire Hathaway Inc-cl B | — | NEW | 新建倉 |
| 47 | FBAK | First National Bank Alaska | — | NEW | 新建倉 |
| 48 | BBVA | Banco Bilbao Vizcaya-sp Adr | — | EXIT | 清倉 |
| 49 | MIDD | Middleby CORP | — | EXIT | 清倉 |
| 50 | VIG | Vanguard Dividend Apprec ETF | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Lummis Asset Management, LP 在 Q3 2025 季度的美股持倉總市值約為 US$1.7億，共申報了 159 個公開持股部位。
在 Q3 2025 季度，Lummis Asset Management, LP 按市值排列的前三大核心持股分別為：MTDR (9.9%)、AAPL (9.3%)、ORCL (6.0%)。其中最大持股部位 MTDR 佔據整體投資組合約 9.9% 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
AMRZ
市值: US$171.2萬
本季最大獲利了結 / 清倉標的
GTX
前期市值: US$191.8萬
在 Q3 2025 季度中，Lummis Asset Management, LP 共進行了 40 項持倉異動，包含新建倉 4 個部位、加碼 10 個部位、減碼 22 個部位以及清倉 4 個部位。 其中最大新建倉標的為 AMRZ。 本季清倉部位包含 GTX。
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。