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: 0001901166
申報總市值
US$15.0億
US$15.0億
122 檔
32.3%
在 Q3 2025 申報期間，Mill Capital Management, LLC（CIK: 0001901166）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$15.0億，共持有 122 個公開申報部位。
觀察 Q3 2025 的資金脈絡，Mill Capital Management, LLC 在獲利結算 1 檔個股的同時，將資本重新部署至 1 檔新選標的，展現主動管理機構的輪動節奏。
從部位權重觀察，前 5 大標的（包含 AAPL, MSFT, BRK-A）累計市值佔比達 32.3%，是驅動 Mill Capital Management, LLC 該季度整體投資組合績效表現的核心支柱。
本季最大新建倉標的
SPAB
市值: US$113.9萬
本季最大獲利了結 / 清倉標的
MO
前期市值: US$42.5萬
| # | 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 | AAPL | Apple Inc | 股票-科技 | 10.08% | -0.04% | -0.99% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 7.67% | -0.65% | -2.79% | |
| 3 | BRK-A | Berkshire Hathaway Inc-cl A | 股票-其他 | 6.65% | -0.57% | -0.83% | |
| 4 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 6.56% | +0.41% | -4.28% | |
| 5 | V | Visa Inc-class A Shares | 股票-金融 | 4.84% | — | -2.88% | |
| 6 | JPM | Jpmorgan Chase & Co | 股票-金融 | 4.77% | -0.10% | -0.14% | |
| 7 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.10% | +0.02% | +0.23% | |
| 8 | AXP | American Express Co | 股票-金融 | 3.09% | -0.06% | +0.08% | |
| 9 | XOM | Exxon Mobil CORP | 股票-能源 | 3.05% | -1.39% | +0.50% | |
| 10 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 2.91% | -0.38% | +2.07% | |
| 11 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 2.89% | -1.14% | +1.00% | |
| 12 | TDG | Transdigm Group Inc | 股票-工業 | 2.42% | +0.03% | -4.95% | |
| 13 | UNP | Union Pacific CORP | 股票-工業 | 2.27% | -0.02% | +0.21% | |
| 14 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 2.26% | -0.12% | -0.04% | |
| 15 | MU | Micron Technology Inc | 股票-科技 | 1.87% | +4.72% | -6.03% | |
| 16 | ICE | Intercontinental Exchange In | 股票-金融 | 1.77% | -0.52% | +0.50% | |
| 17 | AMT | American Tower CORP | 股票-房地產 | 1.75% | -0.32% | +0.51% | |
| 18 | JNJ | Johnson & Johnson | 股票-醫療保健 | 1.63% | -0.22% | +0.33% | |
| 19 | ZTS | Zoetis Inc | 股票-醫療保健 | 1.60% | -0.72% | +18.40% | |
| 20 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 1.54% | +0.38% | +19.50% | |
| 21 | CPRT | Copart Inc | 股票-工業 | 1.47% | -0.29% | +0.24% | |
| 22 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.45% | +0.15% | -0.16% | |
| 23 | FISV | Fiserv Inc | 股票-其他 | 1.45% | — | +11.29% | |
| 24 | ASML | ASML Holding N.V. | 股票-科技 | 1.45% | +0.66% | +12.55% | |
| 25 | LHX | L3harris Technologies Inc | 股票-工業 | 1.40% | -0.42% | +0.33% | |
| 26 | LIN | Linde plc | 股票-原物料 | 1.40% | -0.12% | +0.62% | |
| 27 | VRSN | Verisign Inc | 股票-科技 | 1.38% | -0.15% | +0.18% | |
| 28 | LH | Labcorp Holdings Inc | 股票-醫療保健 | 1.36% | -0.14% | +0.52% | |
| 29 | CMCSA | Comcast Corp-class A | 股票-通訊服務 | 1.27% | -0.13% | -8.42% | |
| 30 | CPAY | Corpay Inc | 股票-科技 | 1.17% | -0.02% | EXIT | |
| 31 | CRM | Salesforce Inc | 股票-科技 | 1.02% | -0.22% | +6.47% | |
| 32 | OTIS | Otis Worldwide CORP | 股票-工業 | 0.97% | -0.16% | +11.47% | |
| 33 | PM | Philip Morris International | 股票-非循環性消費 | 0.87% | -0.04% | -0.10% | |
| 34 | TT | Trane Technologies plc | 股票-工業 | 0.56% | +0.02% | — | |
| 35 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.51% | -0.04% | -2.57% | |
| 36 | WFC | Wells Fargo & Co | 股票-金融 | 0.51% | -0.04% | -3.52% | |
| 37 | GE | General Electric | 股票-工業 | 0.43% | +0.06% | — | |
| 38 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.43% | -0.04% | — | |
| 39 | LRCX | Lam Research CORP | 股票-科技 | 0.35% | +0.36% | — | |
| 40 | ETN | Eaton Corporation plc | 股票-工業 | 0.33% | +0.02% | — | |
| 41 | ORCL | Oracle CORP | 股票-科技 | 0.32% | -0.02% | -1.27% | |
| 42 | CVX | Chevron CORP | 股票-能源 | 0.32% | -0.14% | — | |
| 43 | CAT | Caterpillar Inc | 股票-工業 | 0.31% | +0.14% | -2.22% | |
| 44 | PFE | Pfizer Inc | 股票-醫療保健 | 0.30% | -0.10% | -7.39% | |
| 45 | MLM | Martin Marietta Materials | 股票-原物料 | 0.29% | -0.04% | — | |
| 46 | ELV | Elevance Health Inc | 股票-醫療保健 | 0.24% | +0.03% | — | |
| 47 | DUK | Duke Energy CORP | 股票-公用事業 | 0.24% | -0.04% | -0.20% | |
| 48 | HD | Home Depot Inc | 股票-循環性消費 | 0.22% | -0.01% | — | |
| 49 | MDLZ | Mondelez International Inc-a | 股票-非循環性消費 | 0.21% | -0.03% | -12.82% | |
| 50 | NSC | Norfolk Southern CORP | 股票-工業 | 0.20% | -0.01% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | +1.8% | -4.28% | 減碼 |
| 2 | MSFT | Microsoft CORP | +1.3% | -2.79% | 減碼 |
| 3 | MU | Micron Technology Inc | +0.8% | -6.03% | 減碼 |
| 4 | JPM | Jpmorgan Chase & Co | +0.7% | -0.14% | 減碼 |
| 5 | ASML | ASML Holding N.V. | +0.5% | +12.55% | 加碼 |
| 6 | AAPL | Apple Inc | +0.5% | -0.99% | 減碼 |
| 7 | GOOGL | Alphabet Inc-cl A | +0.5% | -0.16% | 減碼 |
| 8 | AXP | American Express Co | +0.4% | +0.08% | 加碼 |
| 9 | LHX | L3harris Technologies Inc | +0.4% | +0.33% | 加碼 |
| 10 | AMZN | Amazon.com Inc | +0.2% | +0.23% | 加碼 |
| 11 | LH | Labcorp Holdings Inc | +0.2% | +0.52% | 加碼 |
| 12 | BKNG | Booking Holdings Inc | +0.2% | -0.04% | 減碼 |
| 13 | LRCX | Lam Research CORP | +0.2% | — | 不變 |
| 14 | ORCL | Oracle CORP | +0.1% | -1.27% | 減碼 |
| 15 | GE | General Electric | +0.1% | — | 不變 |
| 16 | GEV | GE Vernova Inc | +0.1% | — | 減碼 |
| 17 | TT | Trane Technologies plc | +0.1% | — | 不變 |
| 18 | JNJ | Johnson & Johnson | +0.1% | +0.33% | 加碼 |
| 19 | CAT | Caterpillar Inc | +0.1% | -2.22% | 減碼 |
| 20 | ETN | Eaton Corporation plc | +0.1% | — | 不變 |
| 21 | MLM | Martin Marietta Materials | +0.1% | — | 不變 |
| 22 | GS | Goldman Sachs Group Inc | 0% | — | 減碼 |
| 23 | VRSN | Verisign Inc | 0% | +0.18% | 加碼 |
| 24 | NSC | Norfolk Southern CORP | 0% | — | 減碼 |
| 25 | WFC | Wells Fargo & Co | 0% | -3.52% | 減碼 |
| 26 | ZTS | Zoetis Inc | 0% | +18.40% | 加碼 |
| 27 | DEO | Diageo Plc-sponsored Adr | 0% | -22.08% | 減碼 |
| 28 | PFE | Pfizer Inc | -0.1% | -7.39% | 減碼 |
| 29 | BMY | Bristol-myers Squibb Co | -0.1% | -2.32% | 減碼 |
| 30 | LIN | Linde plc | -0.1% | +0.62% | 加碼 |
| 31 | PG | Procter & Gamble Co/the | -0.1% | — | 不變 |
| 32 | MDLZ | Mondelez International Inc-a | -0.1% | -12.82% | 減碼 |
| 33 | ELV | Elevance Health Inc | -0.1% | — | 不變 |
| 34 | MRK | Merck & Co. Inc. | -0.1% | -2.57% | 減碼 |
| 35 | CRM | Salesforce Inc | -0.2% | +6.47% | 加碼 |
| 36 | ICE | Intercontinental Exchange In | -0.2% | +0.50% | 加碼 |
| 37 | TMO | Thermo Fisher Scientific Inc | -0.3% | +1.00% | 加碼 |
| 38 | CPAY | Corpay Inc | -0.4% | +0.12% | 加碼 |
| 39 | AMT | American Tower CORP | -0.4% | +0.51% | 加碼 |
| 40 | XOM | Exxon Mobil CORP | -0.4% | +0.50% | 加碼 |
| 41 | BRK-B | Berkshire Hathaway Inc-cl B | -0.4% | +2.07% | 加碼 |
| 42 | UNH | Unitedhealth Group Inc | -0.5% | +19.50% | 加碼 |
| 43 | TDG | Transdigm Group Inc | -0.5% | -4.95% | 減碼 |
| 44 | CPRT | Copart Inc | -0.5% | +0.24% | 加碼 |
| 45 | CMCSA | Comcast Corp-class A | -0.6% | -8.42% | 減碼 |
| 46 | V | Visa Inc-class A Shares | -0.8% | -2.88% | 減碼 |
| 47 | FISV | Fiserv Inc | -1% | +11.29% | 加碼 |
| 48 | BRK-A | Berkshire Hathaway Inc-cl A | -1.2% | -0.83% | 減碼 |
| 49 | SPAB | Ss Spdr P Agg Bond ETF | — | NEW | 新建倉 |
| 50 | MO | Altria Group Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Mill Capital Management, LLC 在 Q3 2025 季度的美股持倉總市值約為 US$15.0億，共申報了 122 個公開持股部位。
在 Q3 2025 季度，Mill Capital Management, LLC 按市值排列的前三大核心持股分別為：AAPL (10.1%)、MSFT (7.7%)、BRK-A (6.7%)。其中最大持股部位 AAPL 佔據整體投資組合約 10.1% 的權重。
在 Q3 2025 季度中，Mill Capital Management, LLC 共進行了 43 項持倉異動，包含新建倉 1 個部位、加碼 19 個部位、減碼 22 個部位以及清倉 1 個部位。 其中最大新建倉標的為 SPAB。 本季清倉部位包含 MO。
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。
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。
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。