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: 0001088859
申報總市值
US$9.6億
US$9.6億
131 檔
32.4%
截至 Q4 2025 季度末，Parthenon LLC 的美股持倉估值約為 US$9.6億，全數申報部位共有 131 檔。
Parthenon LLC 在 Q4 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 34 檔，反映機構對當前市場環境或個別公司估值採取較為保留之看法。
整體而言，Parthenon LLC 的前 5 大持股（包含 MSFT, BRK-B, GOOGL）貢獻了組合市值的 32.4%，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 | MSFT | Microsoft CORP | 股票-科技 | 11.87% | -0.83% | -2.15% | |
| 2 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 7.52% | -0.47% | +0.30% | |
| 3 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 5.37% | +0.47% | -0.95% | |
| 4 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 4.88% | -0.46% | -1.35% | |
| 5 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 3.97% | +0.32% | -7.88% | |
| 6 | AAPL | Apple Inc | 股票-科技 | 3.78% | +0.13% | -1.99% | |
| 7 | PAYX | Paychex Inc | 股票-科技 | 2.96% | -0.05% | -0.78% | |
| 8 | WMT | Walmart Inc | 股票-非循環性消費 | 2.74% | -0.57% | +0.27% | |
| 9 | JNJ | Johnson & Johnson | 股票-醫療保健 | 2.73% | -0.21% | -0.93% | |
| 10 | AXP | American Express Co | 股票-金融 | 2.69% | +0.05% | -1.57% | |
| 11 | FAST | Fastenal Co | 股票-工業 | 2.36% | -0.25% | +0.37% | |
| 12 | XOM | Exxon Mobil CORP | 股票-能源 | 2.28% | -0.95% | -0.70% | |
| 13 | DOV | Dover CORP | 股票-工業 | 2.22% | -0.07% | -0.91% | |
| 14 | GLW | Corning Inc | 股票-科技 | 2.18% | +2.50% | -0.86% | |
| 15 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 2.09% | -0.26% | -1.85% | |
| 16 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 2.00% | -0.06% | -1.48% | |
| 17 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.75% | -0.10% | -0.27% | |
| 18 | CRM | Salesforce Inc | 股票-科技 | 1.65% | -0.27% | — | |
| 19 | CSCO | Cisco Systems Inc | 股票-科技 | 1.65% | +0.63% | -0.27% | |
| 20 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.56% | -0.35% | -0.67% | |
| 21 | ICLR | ICON Public Limited Company | 股票-醫療保健 | 1.56% | +0.42% | -0.73% | |
| 22 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.48% | +0.01% | -2.08% | |
| 23 | SCHW | Schwab (charles) CORP | 股票-金融 | 1.44% | -0.14% | -1.52% | |
| 24 | SYK | Stryker CORP | 股票-醫療保健 | 1.41% | -0.17% | -0.79% | |
| 25 | WAT | Waters CORP | 股票-醫療保健 | 1.19% | +0.14% | -3.84% | |
| 26 | YETI | Yeti Holdings Inc | 股票-循環性消費 | 1.05% | +0.19% | -0.86% | |
| 27 | LSTR | Landstar System Inc | 股票-工業 | 1.04% | +0.21% | -1.35% | |
| 28 | CVS | Cvs Health CORP | 股票-醫療保健 | 0.98% | +0.28% | -4.18% | |
| 29 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 0.98% | +0.07% | -4.36% | |
| 30 | BATRK | Atlanta Braves Holdings In-c | 股票-其他 | 0.95% | +0.05% | +31.30% | |
| 31 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.91% | -0.09% | -0.53% | |
| 32 | CHDN | Churchill Downs Inc | 股票-循環性消費 | 0.90% | -0.07% | — | |
| 33 | HD | Home Depot Inc | 股票-循環性消費 | 0.86% | -0.02% | -0.02% | |
| 34 | MDLZ | Mondelez International Inc-a | 股票-非循環性消費 | 0.81% | -0.10% | -14.23% | |
| 35 | PNC | Pnc Financial Services Group | 股票-金融 | 0.75% | +0.06% | — | |
| 36 | GE | General Electric | 股票-工業 | 0.74% | +0.14% | -0.71% | |
| 37 | IJR | Ishares Core S&p Small-cap E | ETF-中小型股 | 0.73% | +0.06% | +0.15% | |
| 38 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 0.68% | -0.01% | -1.00% | |
| 39 | MDT | Medtronic plc | 股票-醫療保健 | 0.64% | -0.12% | -14.35% | |
| 40 | VEA | Vanguard Ftse Developed ETF | ETF-其他 | 0.55% | +0.03% | -4.10% | |
| 41 | PM | Philip Morris International | 股票-非循環性消費 | 0.51% | -0.01% | — | |
| 42 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.49% | +0.06% | -1.07% | |
| 43 | BRK-A | Berkshire Hathaway Inc-cl A | 股票-其他 | 0.49% | -0.02% | — | |
| 44 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.47% | -0.05% | — | |
| 45 | HSY | Hershey Co/the | 股票-非循環性消費 | 0.46% | -0.14% | -2.78% | |
| 46 | MCD | Mcdonald's CORP | 股票-循環性消費 | 0.43% | -0.09% | -10.37% | |
| 47 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.38% | -0.01% | — | |
| 48 | CLAR | Clarus CORP | 股票-其他 | 0.36% | +0.05% | +39.59% | |
| 49 | TPB | Turning Point Brands Inc | 股票-其他 | 0.36% | +0.03% | — | |
| 50 | NVDA | Nvidia CORP | 股票-科技 | 0.34% | — | -10.72% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +1% | -0.95% | 減碼 |
| 2 | GOOG | Alphabet Inc-cl C | +0.5% | -7.88% | 減碼 |
| 3 | MRK | Merck & Co. Inc. | +0.3% | -0.27% | 減碼 |
| 4 | DOV | Dover CORP | +0.3% | -0.91% | 減碼 |
| 5 | YETI | Yeti Holdings Inc | +0.2% | -0.86% | 減碼 |
| 6 | JNJ | Johnson & Johnson | +0.2% | -0.93% | 減碼 |
| 7 | WAT | Waters CORP | +0.2% | -3.84% | 減碼 |
| 8 | AXP | American Express Co | +0.2% | -1.57% | 減碼 |
| 9 | BATRK | Atlanta Braves Holdings In-c | +0.2% | +31.30% | 加碼 |
| 10 | WMT | Walmart Inc | +0.1% | +0.27% | 加碼 |
| 11 | CSCO | Cisco Systems Inc | +0.1% | -0.27% | 減碼 |
| 12 | LLY | Eli Lilly & Co | +0.1% | -1.07% | 減碼 |
| 13 | LSTR | Landstar System Inc | +0.1% | -1.35% | 減碼 |
| 14 | CHDN | Churchill Downs Inc | +0.1% | — | 不變 |
| 15 | CLAR | Clarus CORP | +0.1% | +39.59% | 加碼 |
| 16 | AAPL | Apple Inc | +0.1% | -1.99% | 減碼 |
| 17 | XOM | Exxon Mobil CORP | +0.1% | -0.70% | 減碼 |
| 18 | GLW | Corning Inc | +0.1% | -0.86% | 減碼 |
| 19 | COHR | Coherent CORP | 0% | -2.78% | 減碼 |
| 20 | TPB | Turning Point Brands Inc | 0% | — | 不變 |
| 21 | ICLR | ICON Public Limited Company | 0% | -0.73% | 減碼 |
| 22 | PNC | Pnc Financial Services Group | 0% | — | 不變 |
| 23 | SCHW | Schwab (charles) CORP | — | -1.52% | 減碼 |
| 24 | JCTC | Jewett-cameron Trading LTD | 0% | — | 不變 |
| 25 | IBM | Intl Business Machines CORP | 0% | -15.31% | 減碼 |
| 26 | NKE | Nike Inc -cl B | 0% | -8.80% | 減碼 |
| 27 | RSSS | Research Solutions Inc | 0% | — | 不變 |
| 28 | INTU | Intuit Inc | 0% | -23.88% | 減碼 |
| 29 | HSY | Hershey Co/the | 0% | -2.78% | 減碼 |
| 30 | MO | Altria Group Inc | -0.1% | — | 不變 |
| 31 | NVDA | Nvidia CORP | -0.1% | -10.72% | 減碼 |
| 32 | SJM | Jm Smucker Co/the | -0.1% | -3.32% | 減碼 |
| 33 | MCD | Mcdonald's CORP | -0.1% | -10.37% | 減碼 |
| 34 | ORCL | Oracle CORP | -0.1% | — | 不變 |
| 35 | THRY | Thryv Holdings Inc | -0.1% | +22.59% | 加碼 |
| 36 | BKNG | Booking Holdings Inc | -0.1% | -1.48% | 減碼 |
| 37 | MDT | Medtronic plc | -0.1% | -14.35% | 減碼 |
| 38 | USB | US Bancorp | -0.1% | -78.82% | 減碼 |
| 39 | SYK | Stryker CORP | -0.1% | -0.79% | 減碼 |
| 40 | HD | Home Depot Inc | -0.2% | -0.02% | 減碼 |
| 41 | PG | Procter & Gamble Co/the | -0.3% | -1.85% | 減碼 |
| 42 | MDLZ | Mondelez International Inc-a | -0.3% | -14.23% | 減碼 |
| 43 | PAYX | Paychex Inc | -0.5% | -0.78% | 減碼 |
| 44 | FAST | Fastenal Co | -0.6% | +0.37% | 加碼 |
| 45 | META | Meta Platforms Inc-class A | -0.8% | -1.35% | 減碼 |
| 46 | MSFT | Microsoft CORP | -1.5% | -2.15% | 減碼 |
| 47 | CRM | Salesforce Inc | — | NEW | 新建倉 |
| 48 | STX | Seagate Technology Holdings plc | — | NEW | 新建倉 |
| 49 | WSBC | Wesbanco Inc | — | NEW | 新建倉 |
| 50 | CAT | Caterpillar Inc | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Parthenon LLC 在 Q4 2025 季度的美股持倉總市值約為 US$9.6億，共申報了 131 個公開持股部位。
在 Q4 2025 季度，Parthenon LLC 按市值排列的前三大核心持股分別為：MSFT (11.9%)、BRK-B (7.5%)、GOOGL (5.4%)。其中最大持股部位 MSFT 佔據整體投資組合約 11.9% 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
CRM
市值: US$1531.3萬
本季最大獲利了結 / 清倉標的
MSFT
前期市值: US$1.2億
在 Q4 2025 季度中，Parthenon LLC 共進行了 43 項持倉異動，包含新建倉 4 個部位、加碼 5 個部位、減碼 34 個部位以及清倉 0 個部位。 其中最大新建倉標的為 CRM。
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。