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: 0001318757
申報總市值
US$1267.0億
US$1267.0億
2540 檔
25.7%
在 Q4 2025 的 13F 官方備案中，Marshall Wace, LLP 管理的美股投資組合規模來到 US$1267.0億，整體持股檔數為 2540 檔。
觀察 Q4 2025 的資金脈絡，Marshall Wace, LLP 在獲利結算 10 檔個股的同時，將資本重新部署至 12 檔新選標的，展現主動管理機構的輪動節奏。
在資產配置集中度方面，Marshall Wace, LLP 的前 5 大核心持股（包含 IVV, VOO, NVDA 等）合計佔整體申報市值的 25.7%，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 2540 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 | IVV | Ishares Core S&p 500 ETF | ETF-大型股與成長 | 20.23% | +6.55% | +17.91% | |
| 2 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 2.62% | — | — | |
| 3 | NVDA | Nvidia CORP | 股票-科技 | 2.57% | -0.97% | +14.38% | |
| 4 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.53% | -0.04% | +13.30% | |
| 5 | AAPL | Apple Inc | 股票-科技 | 1.73% | -0.01% | -37.58% | |
| 6 | MSFT | Microsoft CORP | 股票-科技 | 1.65% | -0.27% | -42.49% | |
| 7 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.28% | -0.29% | +380.02% | |
| 8 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.08% | -0.29% | +58.93% | |
| 9 | AVGO | Broadcom Inc | 股票-科技 | 1.07% | -0.31% | +95.45% | |
| 10 | AMD | Advanced Micro Devices | 股票-科技 | 0.96% | +0.98% | -7.09% | |
| 11 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.93% | -0.14% | +0.93% | |
| 12 | WMT | Walmart Inc | 股票-非循環性消費 | 0.92% | -0.01% | +18.70% | |
| 13 | TSLA | Tesla Inc | 股票-循環性消費 | 0.88% | -0.02% | +10.93% | |
| 14 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.88% | -0.38% | +57.54% | |
| 15 | CRCL | Circle Internet Group Inc | 股票-金融 | 0.72% | -0.41% | +23.81% | |
| 16 | SMH | Vaneck Semiconductor ETF | ETF-其他 | 0.70% | +0.29% | -12.29% | |
| 17 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.69% | +0.02% | +2.35% | |
| 18 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.68% | +0.11% | +1206.87% | |
| 19 | DASH | Doordash Inc - A | 股票-循環性消費 | 0.62% | -0.02% | +48.44% | |
| 20 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.59% | +0.23% | +210.84% | |
| 21 | MELI | Mercadolibre Inc | 股票-循環性消費 | 0.57% | -0.49% | +157.50% | |
| 22 | BMY | Bristol-myers Squibb Co | 股票-醫療保健 | 0.53% | -0.22% | +607.08% | |
| 23 | HLT | Hilton Worldwide Holdings In | 股票-循環性消費 | 0.51% | -0.16% | +89.68% | |
| 24 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.50% | -0.19% | +88.07% | |
| 25 | UBER | Uber Technologies Inc | 股票-工業 | 0.50% | +0.11% | +116.89% | |
| 26 | NU | Nu Holdings Ltd. | 股票-金融 | 0.48% | -0.05% | +8.01% | |
| 27 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 0.47% | -0.03% | +335.71% | |
| 28 | PDD | Pdd Holdings Inc | 股票-循環性消費 | 0.47% | +0.01% | +79.98% | |
| 29 | SLV | Ishares Silver Trust | ETF-避險與商品 | 0.47% | -0.23% | +148.58% | |
| 30 | EW | Edwards Lifesciences CORP | 股票-醫療保健 | 0.46% | -0.14% | +66.15% | |
| 31 | LULU | Lululemon Athletica Inc | 股票-循環性消費 | 0.45% | -0.13% | +188.18% | |
| 32 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 0.44% | +0.61% | +200.76% | |
| 33 | SPOT | Spotify Technology S.A. | 股票-通訊服務 | 0.43% | +0.01% | +830.84% | |
| 34 | INTC | Intel CORP | 股票-科技 | 0.42% | -0.03% | +32.08% | |
| 35 | GLD | Spdr Gold Shares | ETF-避險與商品 | 0.40% | -0.47% | +54.67% | |
| 36 | VRT | Vertiv Holdings Co-a | 股票-工業 | 0.39% | +0.24% | +265.63% | |
| 37 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.38% | -0.33% | +183.11% | |
| 38 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.37% | -0.20% | -3.14% | |
| 39 | AAL | American Airlines Group Inc | 股票-工業 | 0.36% | -0.06% | +428.82% | |
| 40 | FWONK | Liberty Media Corp-formula-c | 股票-通訊服務 | 0.34% | -0.01% | +36.17% | |
| 41 | USB | US Bancorp | 股票-金融 | 0.34% | -0.06% | EXIT | |
| 42 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 0.34% | +0.19% | -12.36% | |
| 43 | REGN | Regeneron Pharmaceuticals | 股票-醫療保健 | 0.34% | +0.07% | +23.02% | |
| 44 | RBLX | Roblox CORP -class A | 股票-通訊服務 | 0.33% | -0.05% | +30.66% | |
| 45 | GRAB | Grab Holdings Limited | 股票-科技 | 0.33% | -0.09% | +49.20% | |
| 46 | PFE | Pfizer Inc | 股票-醫療保健 | 0.33% | -0.40% | +88.90% | |
| 47 | PANW | Palo Alto Networks Inc | 股票-科技 | 0.33% | +0.09% | +12.83% | |
| 48 | SNPS | Synopsys Inc | 股票-科技 | 0.32% | -0.04% | +184.20% | |
| 49 | KHC | Kraft Heinz Co/the | 股票-非循環性消費 | 0.31% | -0.02% | +246.58% | |
| 50 | FIVE | Five Below | 股票-循環性消費 | 0.31% | -0.08% | +54.63% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | +1.6% | +17.91% | 加碼 |
| 2 | LLY | Eli Lilly & Co | +1.1% | +380.02% | 加碼 |
| 3 | KO | Coca-cola Co/the | +0.6% | +1206.87% | 加碼 |
| 4 | GOOGL | Alphabet Inc-cl A | +0.5% | +58.93% | 加碼 |
| 5 | AVGO | Broadcom Inc | +0.5% | +95.45% | 加碼 |
| 6 | BMY | Bristol-myers Squibb Co | +0.5% | +607.08% | 加碼 |
| 7 | GOOG | Alphabet Inc-cl C | +0.4% | +57.54% | 加碼 |
| 8 | UNH | Unitedhealth Group Inc | +0.4% | +210.84% | 加碼 |
| 9 | SPOT | Spotify Technology S.A. | +0.4% | +830.84% | 加碼 |
| 10 | TSM | Taiwan Semiconductor-sp Adr | +0.4% | +335.71% | 加碼 |
| 11 | SLV | Ishares Silver Trust | +0.3% | +148.58% | 加碼 |
| 12 | LULU | Lululemon Athletica Inc | +0.3% | +188.18% | 加碼 |
| 13 | AAL | American Airlines Group Inc | +0.3% | +428.82% | 加碼 |
| 14 | V | Visa Inc-class A Shares | +0.3% | +6785.19% | 加碼 |
| 15 | MELI | Mercadolibre Inc | +0.3% | +157.50% | 加碼 |
| 16 | VRT | Vertiv Holdings Co-a | +0.3% | +265.63% | 加碼 |
| 17 | COST | Costco Wholesale CORP | +0.3% | +200.76% | 加碼 |
| 18 | MRK | Merck & Co. Inc. | +0.3% | +183.11% | 加碼 |
| 19 | BDX | Becton Dickinson And Co | +0.3% | +39252.20% | 加碼 |
| 20 | TMO | Thermo Fisher Scientific Inc | +0.3% | +88.07% | 加碼 |
| 21 | HLT | Hilton Worldwide Holdings In | +0.2% | +89.68% | 加碼 |
| 22 | GEV | GE Vernova Inc | +0.2% | +734.42% | 加碼 |
| 23 | KHC | Kraft Heinz Co/the | +0.2% | +246.58% | 加碼 |
| 24 | UBER | Uber Technologies Inc | +0.2% | +116.89% | 加碼 |
| 25 | SNPS | Synopsys Inc | +0.2% | +184.20% | 加碼 |
| 26 | MU | Micron Technology Inc | +0.2% | +74.06% | 加碼 |
| 27 | WAT | Waters CORP | +0.2% | +1611.32% | 加碼 |
| 28 | DB | Deutsche Bank Aktiengesellschaft | +0.2% | +2835.98% | 加碼 |
| 29 | EW | Edwards Lifesciences CORP | +0.2% | +66.15% | 加碼 |
| 30 | RKT | Rocket Cos Inc-class A | +0.2% | +661.18% | 加碼 |
| 31 | AMAT | Applied Materials Inc | +0.2% | +139.20% | 加碼 |
| 32 | SHOP | Shopify Inc - Class A | +0.2% | +172.53% | 加碼 |
| 33 | CAH | Cardinal Health Inc | +0.2% | +1328.08% | 加碼 |
| 34 | AMZN | Amazon.com Inc | +0.2% | +13.30% | 加碼 |
| 35 | TCOM | Trip.com Group Ltd-adr | +0.2% | +268.65% | 加碼 |
| 36 | FCX | Freeport-mcmoran Inc | +0.2% | +1758.23% | 加碼 |
| 37 | GS | Goldman Sachs Group Inc | +0.2% | +379.48% | 加碼 |
| 38 | NEE | Nextera Energy Inc | +0.2% | +7902.54% | 加碼 |
| 39 | HSY | Hershey Co/the | +0.2% | +546.63% | 加碼 |
| 40 | CCJ | Cameco CORP | +0.2% | +7481.31% | 加碼 |
| 41 | GLD | Spdr Gold Shares | +0.1% | +54.67% | 加碼 |
| 42 | DECK | Deckers Outdoor CORP | +0.1% | +5324.38% | 加碼 |
| 43 | PDD | Pdd Holdings Inc | +0.1% | +79.98% | 加碼 |
| 44 | PFE | Pfizer Inc | +0.1% | +88.90% | 加碼 |
| 45 | FIVE | Five Below | +0.1% | +54.63% | 加碼 |
| 46 | SNDK | Sandisk CORP | +0.1% | +29.37% | 加碼 |
| 47 | WMT | Walmart Inc | +0.1% | +18.70% | 加碼 |
| 48 | REGN | Regeneron Pharmaceuticals | +0.1% | +23.02% | 加碼 |
| 49 | FDS | Factset Research Systems Inc | +0.1% | +490.69% | 加碼 |
| 50 | SOFI | Sofi Technologies Inc | +0.1% | +372.87% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Marshall Wace, LLP 在 Q4 2025 季度的美股持倉總市值約為 US$1267.0億，共申報了 2540 個公開持股部位。
在 Q4 2025 季度，Marshall Wace, LLP 按市值排列的前三大核心持股分別為：IVV (20.2%)、VOO (2.6%)、NVDA (2.6%)。其中最大持股部位 IVV 佔據整體投資組合約 20.2% 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
VOO
市值: US$28.7億
本季最大獲利了結 / 清倉標的
ARES
前期市值: US$1.5億
在 Q4 2025 季度中，Marshall Wace, LLP 共進行了 200 項持倉異動，包含新建倉 12 個部位、加碼 101 個部位、減碼 77 個部位以及清倉 10 個部位。 其中最大新建倉標的為 VOO。 本季清倉部位包含 ARES。
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。