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: 0001904893
申報總市值
US$153.6億
US$153.6億
43 檔
47.5%
根據最新整理的 13F 季度數據集，PineStone Asset Management Inc. 於 Q4 2025 結束時的管理資產規模為 US$153.6億。該機構在本季度申報了 43 檔美股持倉，呈現出該時期的主要投資地圖。
PineStone Asset Management Inc. 在 Q4 2025 進行了結構性的板塊輪動與部位換股。在開立 1 個全新部位及加碼 17 檔持股的同時，亦同步清倉 1 檔並減碼 19 檔標的。
檢視投資組合結構，前 5 大主力部位（包含 TSM, GOOGL, MSFT）占據了總市值的 47.5%，展現出該機構在 Q4 2025 的重點資金聚焦與風險分佈特徵。
本季最大新建倉標的
AMZN
市值: US$2.5億
本季最大獲利了結 / 清倉標的
ADBE
前期市值: US$7071.4萬
| # | 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 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 11.80% | -0.87% | -4.57% | |
| 2 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 11.18% | -0.53% | -10.19% | |
| 3 | MSFT | Microsoft CORP | 股票-科技 | 8.81% | +2.18% | +0.81% | |
| 4 | MCO | Moody's CORP | 股票-金融 | 7.54% | +0.17% | +4.93% | |
| 5 | MA | Mastercard Inc - A | 股票-金融 | 6.02% | +0.61% | +7.03% | |
| 6 | AZO | Autozone Inc | 股票-循環性消費 | 5.67% | -0.45% | +1.46% | |
| 7 | CME | Cme Group Inc | 股票-金融 | 4.44% | +0.74% | +1.69% | |
| 8 | TJX | Tjx Companies Inc | 股票-循環性消費 | 4.04% | -0.36% | -2.59% | |
| 9 | MSCI | Msci Inc | 股票-金融 | 3.57% | -0.13% | +4.07% | |
| 10 | SHW | Sherwin-williams Co/the | 股票-原物料 | 3.46% | -0.12% | +4.44% | |
| 11 | MTD | Mettler-toledo International | 股票-醫療保健 | 2.80% | +0.55% | -0.15% | |
| 12 | JNJ | Johnson & Johnson | 股票-醫療保健 | 2.66% | +0.10% | -1.09% | |
| 13 | OTIS | Otis Worldwide CORP | 股票-工業 | 2.54% | -0.21% | +3.62% | |
| 14 | CARR | Carrier Global CORP | 股票-工業 | 2.35% | -0.68% | +34.58% | |
| 15 | PEP | Pepsico Inc | 股票-非循環性消費 | 2.25% | -0.09% | +4.08% | |
| 16 | ORCL | Oracle CORP | 股票-科技 | 2.18% | — | -47.50% | |
| 17 | CPRT | Copart Inc | 股票-工業 | 2.07% | -0.31% | +10.29% | |
| 18 | SPGI | S&p Global Inc | 股票-金融 | 2.01% | -0.03% | +2.41% | |
| 19 | GGG | Graco Inc | 股票-工業 | 1.93% | +0.05% | -0.35% | |
| 20 | HDB | Hdfc Bank Ltd-adr | 股票-金融 | 1.89% | +0.01% | +1.86% | |
| 21 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 1.69% | -0.09% | +6.59% | |
| 22 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.53% | +0.63% | — | |
| 23 | ADI | Analog Devices Inc | 股票-科技 | 1.49% | +0.10% | -4.31% | |
| 24 | HLT | Hilton Worldwide Holdings In | 股票-循環性消費 | 1.42% | -0.09% | -4.91% | |
| 25 | LOW | Lowe's Cos Inc | 股票-循環性消費 | 1.39% | -0.68% | -4.76% | |
| 26 | CL | Colgate-palmolive Co | 股票-非循環性消費 | 0.78% | -0.07% | -0.86% | |
| 27 | FDS | Factset Research Systems Inc | 股票-金融 | 0.74% | — | -1.58% | |
| 28 | NKE | Nike Inc -cl B | 股票-循環性消費 | 0.74% | — | +13.49% | |
| 29 | FSS | Federal Signal CORP | 股票-工業 | 0.13% | — | — | |
| 30 | MEDP | Medpace Holdings Inc | 股票-醫療保健 | 0.09% | — | -15.41% | |
| 31 | HLI | Houlihan Lokey Inc | 股票-金融 | 0.08% | — | — | |
| 32 | JBTM | Jbt Marel CORP | 股票-工業 | 0.08% | — | -4.36% | |
| 33 | DCI | Donaldson Co Inc | 股票-工業 | 0.08% | — | -7.62% | |
| 34 | WH | Wyndham Hotels & Resorts Inc | 股票-循環性消費 | 0.07% | — | EXIT | |
| 35 | JKHY | Jack Henry & Associates Inc | 股票-科技 | 0.07% | — | — | |
| 36 | EXPO | Exponent Inc | 股票-工業 | 0.06% | — | +6.25% | |
| 37 | IPAR | Interparfums Inc | 股票-其他 | 0.06% | — | -7.12% | |
| 38 | HAYW | Hayward Holdings Inc | 股票-其他 | 0.06% | — | — | |
| 39 | WDFC | Wd-40 Co | 股票-原物料 | 0.05% | -0.01% | — | |
| 40 | SSD | Simpson Manufacturing Co Inc | 股票-原物料 | 0.05% | — | -12.67% | |
| 41 | FND | Floor & Decor Holdings Inc-a | 股票-循環性消費 | 0.05% | -0.01% | EXIT | |
| 42 | TREX | Trex Company Inc | 股票-工業 | 0.05% | — | -6.92% | |
| 43 | POWI | Power Integrations Inc | 股票-科技 | 0.02% | — | — |
| # | 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 | +1.5% | -10.19% | 減碼 |
| 2 | MCO | Moody's CORP | +0.8% | +4.93% | 加碼 |
| 3 | TSM | Taiwan Semiconductor-sp Adr | +0.4% | -4.57% | 減碼 |
| 4 | MA | Mastercard Inc - A | +0.4% | +7.03% | 加碼 |
| 5 | CARR | Carrier Global CORP | +0.4% | +34.58% | 加碼 |
| 6 | MTD | Mettler-toledo International | +0.3% | -0.15% | 減碼 |
| 7 | JNJ | Johnson & Johnson | +0.3% | -1.09% | 減碼 |
| 8 | SPGI | S&p Global Inc | +0.2% | +2.41% | 加碼 |
| 9 | MSCI | Msci Inc | +0.2% | +4.07% | 加碼 |
| 10 | HDB | Hdfc Bank Ltd-adr | +0.2% | +1.86% | 加碼 |
| 11 | TJX | Tjx Companies Inc | +0.1% | -2.59% | 減碼 |
| 12 | PEP | Pepsico Inc | +0.1% | +4.08% | 加碼 |
| 13 | CME | Cme Group Inc | +0.1% | +1.69% | 加碼 |
| 14 | ADI | Analog Devices Inc | +0.1% | -4.31% | 減碼 |
| 15 | HLT | Hilton Worldwide Holdings In | +0.1% | -4.91% | 減碼 |
| 16 | UNH | Unitedhealth Group Inc | 0% | +6.59% | 加碼 |
| 17 | NKE | Nike Inc -cl B | 0% | +13.49% | 加碼 |
| 18 | JKHY | Jack Henry & Associates Inc | 0% | — | 不變 |
| 19 | MEDP | Medpace Holdings Inc | — | -15.41% | 減碼 |
| 20 | EXPO | Exponent Inc | — | +6.25% | 加碼 |
| 21 | POWI | Power Integrations Inc | — | — | 不變 |
| 22 | JBTM | Jbt Marel CORP | — | -4.36% | 減碼 |
| 23 | FND | Floor & Decor Holdings Inc-a | — | +16.47% | 加碼 |
| 24 | HAYW | Hayward Holdings Inc | — | — | 不變 |
| 25 | WDFC | Wd-40 Co | — | — | 不變 |
| 26 | DCI | Donaldson Co Inc | — | -7.62% | 減碼 |
| 27 | IPAR | Interparfums Inc | 0% | -7.12% | 減碼 |
| 28 | FSS | Federal Signal CORP | 0% | — | 不變 |
| 29 | SSD | Simpson Manufacturing Co Inc | 0% | -12.67% | 減碼 |
| 30 | FDS | Factset Research Systems Inc | 0% | -1.58% | 減碼 |
| 31 | CL | Colgate-palmolive Co | 0% | -0.86% | 減碼 |
| 32 | HLI | Houlihan Lokey Inc | 0% | — | 不變 |
| 33 | WH | Wyndham Hotels & Resorts Inc | 0% | -24.96% | 減碼 |
| 34 | TREX | Trex Company Inc | 0% | -6.92% | 減碼 |
| 35 | OTIS | Otis Worldwide CORP | 0% | +3.62% | 加碼 |
| 36 | GGG | Graco Inc | -0.1% | -0.35% | 減碼 |
| 37 | CPRT | Copart Inc | -0.1% | +10.29% | 加碼 |
| 38 | SHW | Sherwin-williams Co/the | -0.1% | +4.44% | 加碼 |
| 39 | LOW | Lowe's Cos Inc | -0.1% | -4.76% | 減碼 |
| 40 | MSFT | Microsoft CORP | -0.6% | +0.81% | 加碼 |
| 41 | AZO | Autozone Inc | -1.4% | +1.46% | 加碼 |
| 42 | ORCL | Oracle CORP | -3.8% | -47.50% | 減碼 |
| 43 | AMZN | Amazon.com Inc | — | NEW | 新建倉 |
| 44 | ADBE | Adobe Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，PineStone Asset Management Inc. 在 Q4 2025 季度的美股持倉總市值約為 US$153.6億，共申報了 43 個公開持股部位。
在 Q4 2025 季度，PineStone Asset Management Inc. 按市值排列的前三大核心持股分別為：TSM (11.8%)、GOOGL (11.2%)、MSFT (8.8%)。其中最大持股部位 TSM 佔據整體投資組合約 11.8% 的權重。
在 Q4 2025 季度中，PineStone Asset Management Inc. 共進行了 38 項持倉異動，包含新建倉 1 個部位、加碼 17 個部位、減碼 19 個部位以及清倉 1 個部位。 其中最大新建倉標的為 AMZN。 本季清倉部位包含 ADBE。
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。