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: 0002075029
申報總市值
US$11.6億
US$11.6億
266 檔
20.8%
截至 Q4 2025 季度末，MASTERINVEST Kapitalanlage GmbH 的美股持倉估值約為 US$11.6億，全數申報部位共有 266 檔。
Q4 2025 的申報記錄反映 MASTERINVEST Kapitalanlage GmbH 的板塊替換策略：機構本季推動了 79 筆增持與 91 筆減持，籌碼呈現明顯的結構重組。
檢視投資組合結構，前 5 大主力部位（包含 NVDA, MSFT, AAPL）占據了總市值的 20.8%，展現出該機構在 Q4 2025 的重點資金聚焦與風險分佈特徵。
僅顯示前 200 大持股（共 266 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 | NVDA | Nvidia CORP | 股票-科技 | 6.36% | -0.37% | -3.34% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 5.52% | -0.75% | -3.18% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 4.32% | -0.30% | +1.05% | |
| 4 | AVGO | Broadcom Inc | 股票-科技 | 3.43% | +0.04% | -0.34% | |
| 5 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 3.41% | +0.06% | -9.89% | |
| 6 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.30% | +0.26% | -1.18% | |
| 7 | LLY | Eli Lilly & Co | 股票-醫療保健 | 2.75% | +0.23% | +1.37% | |
| 8 | JPM | Jpmorgan Chase & Co | 股票-金融 | 2.21% | +0.14% | +0.02% | |
| 9 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.04% | -0.57% | -10.94% | |
| 10 | ABBV | Abbvie Inc | 股票-醫療保健 | 1.80% | -0.03% | -0.10% | |
| 11 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.77% | +0.05% | +30.48% | |
| 12 | CSCO | Cisco Systems Inc | 股票-科技 | 1.51% | +0.40% | -2.60% | |
| 13 | V | Visa Inc-class A Shares | 股票-金融 | 1.39% | +0.02% | +3.08% | |
| 14 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 1.35% | -0.25% | +5.54% | |
| 15 | TSLA | Tesla Inc | 股票-循環性消費 | 1.22% | +0.01% | +9.32% | |
| 16 | MU | Micron Technology Inc | 股票-科技 | 1.08% | +1.66% | -12.66% | |
| 17 | MA | Mastercard Inc - A | 股票-金融 | 1.07% | -0.02% | +11.00% | |
| 18 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.01% | -0.35% | +7.75% | |
| 19 | TJX | Tjx Companies Inc | 股票-循環性消費 | 1.01% | -0.15% | +2.51% | |
| 20 | CRM | Salesforce Inc | 股票-科技 | 0.92% | -0.25% | +1.31% | |
| 21 | NFLX | Netflix Inc | 股票-通訊服務 | 0.84% | -0.24% | +697.97% | |
| 22 | ORCL | Oracle CORP | 股票-科技 | 0.83% | +0.05% | -2.09% | |
| 23 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.82% | -0.41% | +1.52% | |
| 24 | CME | Cme Group Inc | 股票-金融 | 0.81% | -0.33% | -6.13% | |
| 25 | UNP | Union Pacific CORP | 股票-工業 | 0.79% | -0.03% | +0.50% | |
| 26 | ABT | Abbott Laboratories | 股票-醫療保健 | 0.78% | -0.15% | +0.05% | |
| 27 | AMD | Advanced Micro Devices | 股票-科技 | 0.76% | +0.77% | +12.60% | |
| 28 | LRCX | Lam Research CORP | 股票-科技 | 0.75% | +0.59% | +19.24% | |
| 29 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.75% | -0.01% | +15.84% | |
| 30 | HD | Home Depot Inc | 股票-循環性消費 | 0.75% | -0.05% | -16.30% | |
| 31 | WMT | Walmart Inc | 股票-非循環性消費 | 0.73% | -0.18% | -11.36% | |
| 32 | PGR | Progressive CORP | 股票-金融 | 0.71% | -0.03% | +10.40% | |
| 33 | IBM | Intl Business Machines CORP | 股票-科技 | 0.67% | — | +6.26% | |
| 34 | MCD | Mcdonald's CORP | 股票-循環性消費 | 0.65% | -0.23% | -1.01% | |
| 35 | ADP | Automatic Data Processing | 股票-科技 | 0.62% | -0.04% | -3.82% | |
| 36 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.59% | -0.03% | — | |
| 37 | PLD | Prologis Inc | 股票-房地產 | 0.59% | -0.20% | +31.38% | |
| 38 | LIN | Linde plc | 股票-原物料 | 0.58% | — | -37.05% | |
| 39 | UBER | Uber Technologies Inc | 股票-工業 | 0.58% | -0.12% | +115.58% | |
| 40 | CB | Chubb Limited | 股票-金融 | 0.58% | -0.09% | -0.84% | |
| 41 | BSX | Boston Scientific CORP | 股票-醫療保健 | 0.56% | -0.02% | +4.18% | |
| 42 | NOW | Servicenow Inc | 股票-科技 | 0.55% | -0.04% | +335.70% | |
| 43 | QCOM | Qualcomm Inc | 股票-科技 | 0.54% | +0.09% | +34.26% | |
| 44 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.54% | +0.18% | +1.49% | |
| 45 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 0.53% | -0.10% | — | |
| 46 | FAST | Fastenal Co | 股票-工業 | 0.52% | -0.10% | -1.83% | |
| 47 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.50% | -0.13% | +25.06% | |
| 48 | SCHW | Schwab (charles) CORP | 股票-金融 | 0.50% | — | — | |
| 49 | BAC | Bank Of America CORP | 股票-金融 | 0.49% | -0.06% | -0.86% | |
| 50 | AMAT | Applied Materials Inc | 股票-科技 | 0.49% | +0.58% | +0.79% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | LLY | Eli Lilly & Co | +0.8% | +1.37% | 加碼 |
| 2 | GOOG | Alphabet Inc-cl C | +0.7% | +30.48% | 加碼 |
| 3 | GOOGL | Alphabet Inc-cl A | +0.4% | -9.89% | 減碼 |
| 4 | MU | Micron Technology Inc | +0.4% | -12.66% | 減碼 |
| 5 | ETN | Eaton Corporation plc | +0.3% | +296.29% | 加碼 |
| 6 | LRCX | Lam Research CORP | +0.3% | +19.24% | 加碼 |
| 7 | UBER | Uber Technologies Inc | +0.3% | +115.58% | 加碼 |
| 8 | AMD | Advanced Micro Devices | +0.2% | +12.60% | 加碼 |
| 9 | AAPL | Apple Inc | +0.2% | +1.05% | 加碼 |
| 10 | PLD | Prologis Inc | +0.2% | +31.38% | 加碼 |
| 11 | EL | Estee Lauder Companies-cl A | +0.2% | +705.66% | 加碼 |
| 12 | MRK | Merck & Co. Inc. | +0.2% | +25.06% | 加碼 |
| 13 | QCOM | Qualcomm Inc | +0.1% | +34.26% | 加碼 |
| 14 | AMRZ | Amrize Ltd | +0.1% | +252.78% | 加碼 |
| 15 | VRT | Vertiv Holdings Co-a | +0.1% | +518.45% | 加碼 |
| 16 | NEM | Newmont CORP | +0.1% | +15.84% | 加碼 |
| 17 | ROK | Rockwell Automation Inc | +0.1% | +73.93% | 加碼 |
| 18 | AVGO | Broadcom Inc | +0.1% | -0.34% | 減碼 |
| 19 | CSCO | Cisco Systems Inc | +0.1% | -2.60% | 減碼 |
| 20 | TSLA | Tesla Inc | +0.1% | +9.32% | 加碼 |
| 21 | ISRG | Intuitive Surgical Inc | +0.1% | — | 不變 |
| 22 | HWM | Howmet Aerospace Inc | +0.1% | +288.34% | 加碼 |
| 23 | AMAT | Applied Materials Inc | +0.1% | +0.79% | 加碼 |
| 24 | MA | Mastercard Inc - A | +0.1% | +11.00% | 加碼 |
| 25 | CRM | Salesforce Inc | +0.1% | +1.31% | 加碼 |
| 26 | MDB | Mongodb Inc | +0.1% | +12.97% | 加碼 |
| 27 | DIS | Walt Disney Co/the | +0.1% | +15.84% | 加碼 |
| 28 | JNJ | Johnson & Johnson | +0.1% | +13.53% | 加碼 |
| 29 | TMO | Thermo Fisher Scientific Inc | +0.1% | +32.42% | 加碼 |
| 30 | PEP | Pepsico Inc | +0.1% | +7.75% | 加碼 |
| 31 | TJX | Tjx Companies Inc | +0.1% | +2.51% | 加碼 |
| 32 | MKL | Markel Group Inc | +0.1% | +62.62% | 加碼 |
| 33 | CMI | Cummins Inc | +0.1% | +4.97% | 加碼 |
| 34 | NYT | New York Times Co-a | +0.1% | +20.95% | 加碼 |
| 35 | AMZN | Amazon.com Inc | +0.1% | -1.18% | 減碼 |
| 36 | IBM | Intl Business Machines CORP | +0.1% | +6.26% | 加碼 |
| 37 | HLT | Hilton Worldwide Holdings In | +0.1% | +16.18% | 加碼 |
| 38 | REGN | Regeneron Pharmaceuticals | +0.1% | — | 不變 |
| 39 | V | Visa Inc-class A Shares | +0.1% | +3.08% | 加碼 |
| 40 | MS | Morgan Stanley | +0.1% | +3.71% | 加碼 |
| 41 | PWR | Quanta Services Inc | +0.1% | +31.23% | 加碼 |
| 42 | SYK | Stryker CORP | +0.1% | +37.71% | 加碼 |
| 43 | CMCSA | Comcast Corp-class A | +0.1% | +27.96% | 加碼 |
| 44 | ACN | Accenture plc | +0.1% | +33.53% | 加碼 |
| 45 | MNST | Monster Beverage CORP | +0.1% | +207.00% | 加碼 |
| 46 | GS | Goldman Sachs Group Inc | 0% | — | 不變 |
| 47 | CB | Chubb Limited | 0% | -0.84% | 減碼 |
| 48 | AXP | American Express Co | 0% | — | 不變 |
| 49 | LOW | Lowe's Cos Inc | 0% | +19.61% | 加碼 |
| 50 | COR | Cencora Inc | 0% | +29.77% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，MASTERINVEST Kapitalanlage GmbH 在 Q4 2025 季度的美股持倉總市值約為 US$11.6億，共申報了 266 個公開持股部位。
在 Q4 2025 季度，MASTERINVEST Kapitalanlage GmbH 按市值排列的前三大核心持股分別為：NVDA (6.4%)、MSFT (5.5%)、AAPL (4.3%)。其中最大持股部位 NVDA 佔據整體投資組合約 6.4% 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
JBHT
市值: US$108.8萬
本季最大獲利了結 / 清倉標的
VST
前期市值: US$111.5萬
在 Q4 2025 季度中，MASTERINVEST Kapitalanlage GmbH 共進行了 170 項持倉異動，包含新建倉 10 個部位、加碼 69 個部位、減碼 69 個部位以及清倉 22 個部位。 其中最大新建倉標的為 JBHT。 本季清倉部位包含 VST。
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。