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: 0000903947
申報總市值
US$37.7億
US$37.7億
140 檔
13.7%
Q4 2025 季度申報顯示，Miller Howard Investments Inc /ny 揭露的美股組合總市值為 US$37.7億，涵蓋 140 個不同之權益投資部位。
Miller Howard Investments Inc /ny 在 Q4 2025 進行了結構性的板塊輪動與部位換股。在開立 12 個全新部位及加碼 63 檔持股的同時，亦同步清倉 7 檔並減碼 62 檔標的。
整體而言，Miller Howard Investments Inc /ny 的前 5 大持股（包含 MPLX, JNJ, EPD）貢獻了組合市值的 13.7%，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 | MPLX | Mplx LP | 股票-能源 | 3.73% | -0.01% | +2.53% | |
| 2 | JNJ | Johnson & Johnson | 股票-醫療保健 | 3.20% | +0.02% | -1.33% | |
| 3 | EPD | Enterprise Products Partners | 股票-能源 | 3.01% | -0.14% | +1.03% | |
| 4 | CSCO | Cisco Systems Inc | 股票-科技 | 2.87% | +0.55% | -1.26% | |
| 5 | ABBV | Abbvie Inc | 股票-醫療保健 | 2.77% | +0.28% | -1.34% | |
| 6 | ORI | Old Republic Intl CORP | 股票-金融 | 2.75% | -0.60% | -1.33% | |
| 7 | ET | Energy Transfer LP | 股票-能源 | 2.60% | -0.05% | -2.28% | |
| 8 | GSK | Gsk Plc-spon Adr | 股票-醫療保健 | 2.43% | -0.82% | -1.17% | |
| 9 | GILD | Gilead Sciences Inc | 股票-醫療保健 | 2.43% | -0.19% | -1.26% | |
| 10 | STT | State Street CORP | 股票-金融 | 2.33% | +0.20% | -1.20% | |
| 11 | DVY | Ishares Select Dividend ETF | ETF-其他 | 2.15% | -0.14% | +745.93% | |
| 12 | MDT | Medtronic plc | 股票-醫療保健 | 2.10% | +0.08% | -1.38% | |
| 13 | EWBC | East West Bancorp Inc | 股票-金融 | 2.10% | +0.31% | -1.24% | |
| 14 | C | Citigroup Inc | 股票-金融 | 2.07% | +0.29% | -1.26% | |
| 15 | EXC | Exelon CORP | 股票-公用事業 | 1.90% | -0.26% | -0.40% | |
| 16 | TRP | Tc Energy CORP | 股票-能源 | 1.89% | +0.01% | +0.23% | |
| 17 | WES | Western Midstream Partners L | 股票-能源 | 1.78% | +0.13% | +0.74% | |
| 18 | BAC | Bank Of America CORP | 股票-金融 | 1.74% | +0.19% | -1.32% | |
| 19 | ETR | Entergy CORP | 股票-公用事業 | 1.73% | +0.01% | +1.15% | |
| 20 | WMB | Williams Cos Inc | 股票-能源 | 1.72% | +0.06% | +3.31% | |
| 21 | COP | Conocophillips | 股票-能源 | 1.60% | -0.52% | -7.15% | |
| 22 | ENB | Enbridge Inc | 股票-能源 | 1.59% | -0.05% | +1.25% | |
| 23 | PAA | Plains All Amer Pipeline LP | 股票-能源 | 1.55% | +0.06% | -0.85% | |
| 24 | HESM | Hess Midstream LP - Class A | 股票-其他 | 1.51% | -0.04% | -4.03% | |
| 25 | KMI | Kinder Morgan, Inc. | 股票-能源 | 1.46% | -0.17% | +2.93% | |
| 26 | GS | Goldman Sachs Group Inc | 股票-金融 | 1.45% | +0.19% | -0.40% | |
| 27 | CNQ | Canadian Natural Resources | 股票-能源 | 1.41% | -0.42% | -3.40% | |
| 28 | OMC | Omnicom Group | 股票-通訊服務 | 1.40% | -0.08% | +9971.02% | |
| 29 | BNY | Bank Of New York Mellon CORP | 股票-金融 | 1.35% | -1.13% | -36.06% | |
| 30 | VICI | Vici Properties Inc | 股票-房地產 | 1.34% | — | -22.01% | |
| 31 | RF | Regions Financial CORP | 股票-金融 | 1.30% | +0.15% | — | |
| 32 | MTB | M & T Bank CORP | 股票-金融 | 1.29% | +0.48% | — | |
| 33 | PAYX | Paychex Inc | 股票-科技 | 1.28% | +0.23% | -30.32% | |
| 34 | USB | US Bancorp | 股票-金融 | 1.28% | +0.43% | -2.89% | |
| 35 | HST | Host Hotels & Resorts Inc | 股票-房地產 | 1.24% | +0.25% | -6.55% | |
| 36 | CMS | Cms Energy CORP | 股票-公用事業 | 1.22% | -0.03% | +0.73% | |
| 37 | LAMR | Lamar Advertising Co-a | 股票-房地產 | 1.20% | +0.32% | -1.34% | |
| 38 | ELS | Equity Lifestyle Properties | 股票-房地產 | 1.19% | — | -1.50% | |
| 39 | NTR | Nutrien LTD | 股票-原物料 | 1.14% | -0.24% | -1.38% | |
| 40 | PSX | Phillips 66 | 股票-能源 | 1.13% | -0.16% | +2.94% | |
| 41 | SUN | Sunoco LP | 股票-其他 | 1.09% | +0.29% | -0.81% | |
| 42 | EMN | Eastman Chemical Co | 股票-原物料 | 1.07% | -0.18% | +94.15% | |
| 43 | AM | Antero Midstream CORP | 股票-能源 | 1.06% | -0.04% | +2.48% | |
| 44 | VZ | Verizon Communications Inc | 股票-通訊服務 | 0.98% | -0.01% | -42.66% | |
| 45 | LNG | Cheniere Energy Inc | 股票-能源 | 0.94% | -0.23% | -13.61% | |
| 46 | TRGP | Targa Resources CORP | 股票-能源 | 0.94% | +0.14% | +2.68% | |
| 47 | GEL | Genesis Energy L.p. | 股票-其他 | 0.93% | -0.42% | -3.63% | |
| 48 | TXN | Texas Instruments Inc | 股票-科技 | 0.93% | +0.46% | -1.98% | |
| 49 | OGE | Oge Energy CORP | 股票-公用事業 | 0.91% | -0.01% | -0.81% | |
| 50 | CMCSA | Comcast Corp-class A | 股票-通訊服務 | 0.82% | -0.99% | -30.45% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | DVY | Ishares Select Dividend ETF | +1.9% | +745.93% | 加碼 |
| 2 | OMC | Omnicom Group | +1.4% | +9971.02% | 加碼 |
| 3 | EMN | Eastman Chemical Co | +0.5% | +94.15% | 加碼 |
| 4 | MPLX | Mplx LP | +0.3% | +2.53% | 加碼 |
| 5 | JNJ | Johnson & Johnson | +0.3% | -1.33% | 減碼 |
| 6 | CSCO | Cisco Systems Inc | +0.3% | -1.26% | 減碼 |
| 7 | GSK | Gsk Plc-spon Adr | +0.2% | -1.17% | 減碼 |
| 8 | C | Citigroup Inc | +0.2% | -1.26% | 減碼 |
| 9 | GILD | Gilead Sciences Inc | +0.2% | -1.26% | 減碼 |
| 10 | STT | State Street CORP | +0.2% | -1.20% | 減碼 |
| 11 | ORI | Old Republic Intl CORP | +0.1% | -1.33% | 減碼 |
| 12 | GS | Goldman Sachs Group Inc | +0.1% | -0.40% | 減碼 |
| 13 | XLU | St Sr Utl Sl Se Spdr Etf-usd | +0.1% | +506.61% | 加碼 |
| 14 | TRGP | Targa Resources CORP | +0.1% | +2.68% | 加碼 |
| 15 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +1364.89% | 加碼 |
| 16 | SRE | Sempra | +0.1% | +33.98% | 加碼 |
| 17 | USB | US Bancorp | +0.1% | -2.89% | 減碼 |
| 18 | VLO | Valero Energy CORP | +0.1% | +199.76% | 加碼 |
| 19 | EPD | Enterprise Products Partners | +0.1% | +1.03% | 加碼 |
| 20 | BAC | Bank Of America CORP | +0.1% | -1.32% | 減碼 |
| 21 | EWBC | East West Bancorp Inc | +0.1% | -1.24% | 減碼 |
| 22 | OKE | Oneok Inc | +0.1% | +12.12% | 加碼 |
| 23 | DTM | Dt Midstream Inc | +0.1% | +3.86% | 加碼 |
| 24 | PAA | Plains All Amer Pipeline LP | +0.1% | -0.85% | 減碼 |
| 25 | CEG | Constellation Energy | +0.1% | +7.29% | 加碼 |
| 26 | NEE | Nextera Energy Inc | +0.1% | +11.17% | 加碼 |
| 27 | PAGP | Plains Gp Holdings Lp-cl A | 0% | +2.72% | 加碼 |
| 28 | CHRD | Chord Energy CORP | 0% | +134.85% | 加碼 |
| 29 | SUN | Sunoco LP | 0% | -0.81% | 減碼 |
| 30 | NTR | Nutrien LTD | 0% | -1.38% | 減碼 |
| 31 | XEL | Xcel Energy Inc | 0% | +24.71% | 加碼 |
| 32 | NGG | National Grid Plc-sp Adr | 0% | +7.26% | 加碼 |
| 33 | CSX | Csx CORP | 0% | +7.78% | 加碼 |
| 34 | UPS | United Parcel Service-cl B | 0% | +19.26% | 加碼 |
| 35 | CNP | Centerpoint Energy Inc | 0% | +7.02% | 加碼 |
| 36 | WM | Waste Management Inc | 0% | +7.50% | 加碼 |
| 37 | ATO | Atmos Energy CORP | 0% | +7.66% | 加碼 |
| 38 | UNP | Union Pacific CORP | 0% | +10.97% | 加碼 |
| 39 | CNQ | Canadian Natural Resources | 0% | -3.40% | 減碼 |
| 40 | TRP | Tc Energy CORP | 0% | +0.23% | 加碼 |
| 41 | LAMR | Lamar Advertising Co-a | 0% | -1.34% | 減碼 |
| 42 | WES | Western Midstream Partners L | 0% | +0.74% | 加碼 |
| 43 | STAG | Stag Industrial Inc | 0% | -1.60% | 減碼 |
| 44 | LBRT | Liberty Energy Inc | 0% | -8.47% | 減碼 |
| 45 | GPOR | Gulfport Energy CORP | 0% | -4.23% | 減碼 |
| 46 | NI | Nisource Inc | 0% | +7.42% | 加碼 |
| 47 | AEP | American Electric Power | 0% | +7.89% | 加碼 |
| 48 | MDU | Mdu Resources Group Inc | 0% | +8.54% | 加碼 |
| 49 | AES | Aes CORP | 0% | +7.79% | 加碼 |
| 50 | FTS | Fortis Inc | 0% | +8.42% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Miller Howard Investments Inc /ny 在 Q4 2025 季度的美股持倉總市值約為 US$37.7億，共申報了 140 個公開持股部位。
在 Q4 2025 季度，Miller Howard Investments Inc /ny 按市值排列的前三大核心持股分別為：MPLX (3.7%)、JNJ (3.2%)、EPD (3.0%)。其中最大持股部位 MPLX 佔據整體投資組合約 3.7% 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
RF
市值: US$4292.9萬
本季最大獲利了結 / 清倉標的
IPG
前期市值: US$4831.5萬
在 Q4 2025 季度中，Miller Howard Investments Inc /ny 共進行了 144 項持倉異動，包含新建倉 12 個部位、加碼 63 個部位、減碼 62 個部位以及清倉 7 個部位。 其中最大新建倉標的為 RF。 本季清倉部位包含 IPG。
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。