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: 0002090208
申報總市值
US$45.7億
US$45.7億
200 檔
14.5%
在 Q4 2025 申報期間，Munich Reinsurance Co Stock Corp in Munich（CIK: 0002090208）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$45.7億，共持有 200 個公開申報部位。
在 Q4 2025 期間，Munich Reinsurance Co Stock Corp in Munich 展現了靈活的資產再平衡步調，透過出清 7 檔弱勢或達到目標價部位，將資金轉置於 7 檔新建倉標的之中。
在資產配置集中度方面，Munich Reinsurance Co Stock Corp in Munich 的前 5 大核心持股（包含 NVDA, MSFT, GOOG 等）合計佔整體申報市值的 14.5%，反映機構在主要關鍵部位上的權重分佈。
| # | 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 | 4.67% | +0.09% | -0.05% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 3.79% | +1.60% | +10.74% | |
| 3 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 2.61% | +0.17% | +0.96% | |
| 4 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 2.55% | +0.69% | -6.22% | |
| 5 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.48% | +0.21% | -1.38% | |
| 6 | AVGO | Broadcom Inc | 股票-科技 | 2.37% | +0.66% | -9.30% | |
| 7 | AAPL | Apple Inc | 股票-科技 | 2.00% | +0.16% | +25.85% | |
| 8 | GILD | Gilead Sciences Inc | 股票-醫療保健 | 1.97% | -0.35% | +8.20% | |
| 9 | UL | Unilever Plc-sponsored Adr | 股票-非循環性消費 | 1.97% | -0.17% | — | |
| 10 | TMUS | T-mobile US Inc | 股票-通訊服務 | 1.97% | -0.70% | +104.13% | |
| 11 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.95% | -0.49% | +1.29% | |
| 12 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.93% | +0.20% | +24.38% | |
| 13 | PCAR | Paccar Inc | 股票-工業 | 1.78% | -0.06% | -14.97% | |
| 14 | HBAN | Huntington Bancshares Inc | 股票-金融 | 1.78% | +0.09% | — | |
| 15 | MTB | M & T Bank CORP | 股票-金融 | 1.74% | +0.03% | +37.11% | |
| 16 | FERG | Ferguson Enterprises Inc | 股票-工業 | 1.73% | -0.13% | +726.96% | |
| 17 | PPG | Ppg Industries Inc | 股票-原物料 | 1.68% | — | -0.24% | |
| 18 | CVX | Chevron CORP | 股票-能源 | 1.63% | -0.62% | -0.06% | |
| 19 | CCI | Crown Castle Inc | 股票-房地產 | 1.62% | -0.41% | +4.08% | |
| 20 | ELV | Elevance Health Inc | 股票-醫療保健 | 1.61% | -0.70% | -3.19% | |
| 21 | NXPI | NXP Semiconductors N.V. | 股票-科技 | 1.60% | +0.13% | +2.10% | |
| 22 | RJF | Raymond James Financial Inc | 股票-金融 | 1.60% | -0.07% | -0.06% | |
| 23 | GLPI | Gaming And Leisure Propertie | 股票-房地產 | 1.60% | -0.21% | +5.34% | |
| 24 | NDAQ | Nasdaq Inc | 股票-金融 | 1.59% | -0.27% | +2.41% | |
| 25 | KDP | Keurig Dr Pepper Inc | 股票-非循環性消費 | 1.59% | -0.01% | +50.65% | |
| 26 | EMR | Emerson Electric Co | 股票-工業 | 1.59% | — | -0.00% | |
| 27 | SRE | Sempra | 股票-公用事業 | 1.58% | -0.20% | -5.00% | |
| 28 | D | Dominion Energy Inc | 股票-公用事業 | 1.56% | -1.30% | EXIT | |
| 29 | ADM | Archer-daniels-midland Co | 股票-非循環性消費 | 1.47% | -0.11% | +1.19% | |
| 30 | LHX | L3harris Technologies Inc | 股票-工業 | 1.35% | -0.30% | -20.68% | |
| 31 | MA | Mastercard Inc - A | 股票-金融 | 1.35% | -0.36% | -10.73% | |
| 32 | WY | Weyerhaeuser Co | 股票-房地產 | 1.35% | -0.15% | +17.04% | |
| 33 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 1.32% | — | -6.67% | |
| 34 | AVY | Avery Dennison CORP | 股票-循環性消費 | 1.31% | — | -6.99% | |
| 35 | AIG | American International Group | 股票-金融 | 1.30% | +0.04% | -36.97% | |
| 36 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 1.28% | -0.15% | +31.01% | |
| 37 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.26% | -0.08% | — | |
| 38 | CSCO | Cisco Systems Inc | 股票-科技 | 1.24% | -1.50% | EXIT | |
| 39 | V | Visa Inc-class A Shares | 股票-金融 | 1.22% | +0.65% | -7.48% | |
| 40 | ABBV | Abbvie Inc | 股票-醫療保健 | 1.20% | +0.06% | +4.23% | |
| 41 | DKS | Dick's Sporting Goods Inc | 股票-循環性消費 | 1.09% | -0.10% | — | |
| 42 | TJX | Tjx Companies Inc | 股票-循環性消費 | 1.08% | +0.08% | -9.59% | |
| 43 | MRSH | Marsh & Mclennan Cos | 股票-金融 | 1.05% | -0.28% | — | |
| 44 | BAC | Bank Of America CORP | 股票-金融 | 1.04% | — | -11.67% | |
| 45 | ATO | Atmos Energy CORP | 股票-公用事業 | 1.03% | -0.19% | — | |
| 46 | AMD | Advanced Micro Devices | 股票-科技 | 0.98% | +1.72% | +8.40% | |
| 47 | PANW | Palo Alto Networks Inc | 股票-科技 | 0.96% | -0.69% | +1.34% | |
| 48 | APH | Amphenol Corp-cl A | 股票-科技 | 0.89% | -0.91% | EXIT | |
| 49 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.88% | -0.85% | EXIT | |
| 50 | KLAC | Kla CORP | 股票-科技 | 0.88% | -0.03% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | FERG | Ferguson Enterprises Inc | +1.5% | +726.96% | 加碼 |
| 2 | TMUS | T-mobile US Inc | +0.8% | +104.13% | 加碼 |
| 3 | KDP | Keurig Dr Pepper Inc | +0.6% | +50.65% | 加碼 |
| 4 | COF | Capital One Financial CORP | +0.6% | +10162.45% | 加碼 |
| 5 | GOOG | Alphabet Inc-cl C | +0.6% | +0.96% | 加碼 |
| 6 | LLY | Eli Lilly & Co | +0.6% | +1.29% | 加碼 |
| 7 | GOOGL | Alphabet Inc-cl A | +0.5% | -1.38% | 減碼 |
| 8 | AAPL | Apple Inc | +0.5% | +25.85% | 加碼 |
| 9 | MTB | M & T Bank CORP | +0.5% | +37.11% | 加碼 |
| 10 | AMZN | Amazon.com Inc | +0.4% | +24.38% | 加碼 |
| 11 | TMO | Thermo Fisher Scientific Inc | +0.4% | +60.13% | 加碼 |
| 12 | MRK | Merck & Co. Inc. | +0.3% | -6.22% | 減碼 |
| 13 | NOW | Servicenow Inc | +0.3% | +32618.50% | 加碼 |
| 14 | BLK | Blackrock Inc | +0.3% | +7124.53% | 加碼 |
| 15 | GILD | Gilead Sciences Inc | +0.3% | +8.20% | 加碼 |
| 16 | BKNG | Booking Holdings Inc | +0.3% | +31.01% | 加碼 |
| 17 | AMD | Advanced Micro Devices | +0.3% | +8.40% | 加碼 |
| 18 | SCHW | Schwab (charles) CORP | +0.3% | +5728.42% | 加碼 |
| 19 | LPLA | Lpl Financial Holdings Inc | +0.2% | +467.42% | 加碼 |
| 20 | PLD | Prologis Inc | +0.2% | +4893.12% | 加碼 |
| 21 | VZ | Verizon Communications Inc | +0.2% | +119.80% | 加碼 |
| 22 | HCA | Hca Healthcare Inc | +0.2% | +335.36% | 加碼 |
| 23 | CSCO | Cisco Systems Inc | +0.2% | +8.26% | 加碼 |
| 24 | HD | Home Depot Inc | -0.3% | -95.18% | 減碼 |
| 25 | COR | Cencora Inc | -0.3% | -57.87% | 減碼 |
| 26 | IBM | Intl Business Machines CORP | -0.3% | -63.63% | 減碼 |
| 27 | ROP | Roper Technologies Inc | -0.3% | -22.91% | 減碼 |
| 28 | DOCU | Docusign Inc | -0.3% | -70.05% | 減碼 |
| 29 | LRCX | Lam Research CORP | -0.4% | -63.86% | 減碼 |
| 30 | AMGN | Amgen Inc | -0.4% | -93.84% | 減碼 |
| 31 | KMB | Kimberly-clark CORP | -0.4% | -99.04% | 減碼 |
| 32 | LHX | L3harris Technologies Inc | -0.5% | -20.68% | 減碼 |
| 33 | ORCL | Oracle CORP | -0.5% | -52.77% | 減碼 |
| 34 | SNPS | Synopsys Inc | -0.6% | -82.02% | 減碼 |
| 35 | AIG | American International Group | -0.6% | -36.97% | 減碼 |
| 36 | RF | Regions Financial CORP | -1.4% | -99.68% | 減碼 |
| 37 | UL | Unilever PLC | — | EXIT | 清倉 |
| 38 | UL | Unilever Plc-sponsored Adr | — | NEW | 新建倉 |
| 39 | HBAN | Huntington Bancshares Inc | — | NEW | 新建倉 |
| 40 | DB | Deutsche Bank Aktiengesellschaft | — | EXIT | 清倉 |
| 41 | AEP | American Electric Power | — | EXIT | 清倉 |
| 42 | TSCO | Tractor Supply Company | — | EXIT | 清倉 |
| 43 | DKS | Dick's Sporting Goods Inc | — | NEW | 新建倉 |
| 44 | MRSH | Marsh & Mclennan Cos | — | NEW | 新建倉 |
| 45 | ATO | Atmos Energy CORP | — | NEW | 新建倉 |
| 46 | PFE | Pfizer Inc | — | EXIT | 清倉 |
| 47 | AZO | Autozone Inc | — | EXIT | 清倉 |
| 48 | HIMS | Hims & Hers Health Inc | — | NEW | 新建倉 |
| 49 | HPE | Hewlett Packard Enterprise | — | NEW | 新建倉 |
| 50 | LII | Lennox International Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Munich Reinsurance Co Stock Corp in Munich 在 Q4 2025 季度的美股持倉總市值約為 US$45.7億，共申報了 200 個公開持股部位。
在 Q4 2025 季度，Munich Reinsurance Co Stock Corp in Munich 按市值排列的前三大核心持股分別為：NVDA (4.7%)、MSFT (3.8%)、GOOG (2.6%)。其中最大持股部位 NVDA 佔據整體投資組合約 4.7% 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
UL
市值: US$8099.0萬
本季最大獲利了結 / 清倉標的
UL
前期市值: US$8246.1萬
在 Q4 2025 季度中，Munich Reinsurance Co Stock Corp in Munich 共進行了 50 項持倉異動，包含新建倉 7 個部位、加碼 21 個部位、減碼 15 個部位以及清倉 7 個部位。 其中最大新建倉標的為 UL。 本季清倉部位包含 UL。
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。