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: 0000743127
申報總市值
US$91.6億
US$91.6億
863 檔
12.9%
在 Q3 2025 申報期間，Pinnacle Associates LTD（CIK: 0000743127）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$91.6億，共持有 863 個公開申報部位。
數據顯示 Pinnacle Associates LTD 於 Q3 2025 季度持續回收資金，對 31 個既有部位進行裁減並清倉 3 個標的，組合整體流動性比重有所上升。
在資產配置集中度方面，Pinnacle Associates LTD 的前 5 大核心持股（包含 AAPL, JNJ, MSFT 等）合計佔整體申報市值的 12.9%，反映機構在主要關鍵部位上的權重分佈。
僅顯示前 200 大持股（共 863 檔）
| # | 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 | 4.24% | -0.16% | -2.72% | |
| 2 | JNJ | Johnson & Johnson | 股票-醫療保健 | 4.08% | -0.60% | -17.21% | |
| 3 | MSFT | Microsoft CORP | 股票-科技 | 2.95% | -0.27% | -2.26% | |
| 4 | NVDA | Nvidia CORP | 股票-科技 | 2.36% | -0.06% | -2.27% | |
| 5 | AVGO | Broadcom Inc | 股票-科技 | 2.04% | +0.07% | -2.16% | |
| 6 | JPM | Jpmorgan Chase & Co | 股票-金融 | 1.80% | -0.08% | -1.82% | |
| 7 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 1.76% | -0.03% | -0.22% | |
| 8 | VTI | Vanguard Total Stock Mkt ETF | ETF-其他 | 1.57% | +0.01% | +0.46% | |
| 9 | QQQ | Invesco Qqq Trust Series 1 | ETF-科技型 | 1.55% | +0.13% | +2.81% | |
| 10 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.54% | -0.01% | -0.26% | |
| 11 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.53% | +0.05% | -0.07% | |
| 12 | VB | Vanguard Small-cap ETF | ETF-其他 | 1.52% | -0.01% | +2.36% | |
| 13 | IVV | Ishares Core S&p 500 ETF | ETF-大型股與成長 | 1.24% | -0.04% | +1.50% | |
| 14 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 1.15% | +0.05% | -0.78% | |
| 15 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.13% | +0.05% | -1.29% | |
| 16 | QUAL | Ishares Msci USA Quality Fac | ETF-其他 | 1.11% | -0.02% | +0.70% | |
| 17 | VYM | Vanguard High Dvd Yield ETF | ETF-其他 | 1.01% | -0.09% | +1.74% | |
| 18 | MS | Morgan Stanley | 股票-金融 | 0.96% | +0.07% | +0.16% | |
| 19 | VEU | Vanguard Ftse All-world Ex-u | ETF-其他 | 0.94% | -0.03% | +4.64% | |
| 20 | ORCL | Oracle CORP | 股票-科技 | 0.88% | -0.06% | -0.71% | |
| 21 | HD | Home Depot Inc | 股票-循環性消費 | 0.86% | -0.04% | +2.00% | |
| 22 | V | Visa Inc-class A Shares | 股票-金融 | 0.83% | -0.03% | -0.25% | |
| 23 | MU | Micron Technology Inc | 股票-科技 | 0.78% | +1.60% | -8.86% | |
| 24 | LRCX | Lam Research CORP | 股票-科技 | 0.75% | +0.42% | -10.94% | |
| 25 | RCL | Royal Caribbean Cruises Ltd. | 股票-循環性消費 | 0.73% | -0.01% | -6.85% | |
| 26 | AXP | American Express Co | 股票-金融 | 0.73% | -0.02% | -0.39% | |
| 27 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 0.72% | -0.06% | -1.06% | |
| 28 | CAT | Caterpillar Inc | 股票-工業 | 0.72% | +0.27% | +0.30% | |
| 29 | WMT | Walmart Inc | 股票-非循環性消費 | 0.67% | -0.17% | -0.58% | |
| 30 | CSCO | Cisco Systems Inc | 股票-科技 | 0.65% | +0.20% | -0.77% | |
| 31 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.64% | +0.08% | +17.43% | |
| 32 | BLK | Blackrock Inc | 股票-金融 | 0.64% | -0.08% | -0.01% | |
| 33 | REGN | Regeneron Pharmaceuticals | 股票-醫療保健 | 0.63% | -0.27% | +22.15% | |
| 34 | BAC | Bank Of America CORP | 股票-金融 | 0.62% | — | -2.39% | |
| 35 | XYL | Xylem Inc | 股票-工業 | 0.59% | -0.08% | -4.88% | |
| 36 | ETN | Eaton Corporation plc | 股票-工業 | 0.58% | +0.01% | +4.80% | |
| 37 | VGT | Vanguard Info Tech ETF | ETF-科技型 | 0.57% | +0.08% | -4.33% | |
| 38 | GLNG | Golar LNG Limited | 股票-能源 | 0.55% | -0.16% | -3.69% | |
| 39 | COHR | Coherent CORP | 股票-科技 | 0.55% | +0.19% | -6.68% | |
| 40 | SCHD | Schwab US Dvd Equity ETF | ETF-其他 | 0.53% | -0.05% | -3.39% | |
| 41 | IBM | Intl Business Machines CORP | 股票-科技 | 0.53% | +0.03% | +0.18% | |
| 42 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.53% | -0.01% | +1.70% | |
| 43 | JEPI | Jpmorgan Equity Premium Inco | ETF-其他 | 0.53% | -0.07% | +1.62% | |
| 44 | RTX | Rtx CORP | 股票-工業 | 0.52% | -0.10% | -0.73% | |
| 45 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.49% | -0.07% | +0.07% | |
| 46 | MKL | Markel Group Inc | 股票-金融 | 0.47% | -0.11% | -1.58% | |
| 47 | BX | Blackstone Inc | 股票-金融 | 0.46% | -0.03% | -1.27% | |
| 48 | MDY | State Street Spdr S&p Midcap | ETF-其他 | 0.46% | -0.02% | -1.32% | |
| 49 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.46% | -0.06% | -0.40% | |
| 50 | C | Citigroup Inc | 股票-金融 | 0.45% | +0.02% | -1.11% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | +0.9% | -2.27% | 加碼 |
| 2 | AVGO | Broadcom Inc | +0.8% | -2.16% | 減碼 |
| 3 | VTI | Vanguard Total Stock Mkt ETF | +0.6% | +0.46% | 加碼 |
| 4 | MSFT | Microsoft CORP | +0.5% | -2.26% | 減碼 |
| 5 | ORCL | Oracle CORP | +0.4% | -0.71% | 減碼 |
| 6 | MU | Micron Technology Inc | +0.3% | -8.86% | 減碼 |
| 7 | GOOGL | Alphabet Inc-cl A | +0.3% | -0.78% | 減碼 |
| 8 | QQQ | Invesco Qqq Trust Series 1 | +0.3% | +2.81% | 加碼 |
| 9 | GOOG | Alphabet Inc-cl C | +0.2% | -1.29% | 減碼 |
| 10 | NBIS | Nebius Group N.V. | +0.2% | +3.20% | 加碼 |
| 11 | JPM | Jpmorgan Chase & Co | +0.2% | -1.82% | 減碼 |
| 12 | META | Meta Platforms Inc-class A | +0.2% | -0.07% | 加碼 |
| 13 | WMT | Walmart Inc | +0.2% | -0.58% | 加碼 |
| 14 | BE | Bloom Energy Corp- A | +0.2% | -23.56% | 減碼 |
| 15 | CAT | Caterpillar Inc | +0.2% | +0.30% | 加碼 |
| 16 | MS | Morgan Stanley | +0.2% | +0.16% | 減碼 |
| 17 | LASR | Nlight Inc | +0.2% | -19.52% | 減碼 |
| 18 | UEC | Uranium Energy CORP | +0.2% | +38.23% | 加碼 |
| 19 | IONS | Ionis Pharmaceuticals Inc | +0.2% | -2.59% | 減碼 |
| 20 | VEU | Vanguard Ftse All-world Ex-u | +0.1% | +4.64% | 加碼 |
| 21 | CCJ | Cameco CORP | +0.1% | -5.08% | 減碼 |
| 22 | IVV | Ishares Core S&p 500 ETF | +0.1% | +1.50% | 加碼 |
| 23 | ABBV | Abbvie Inc | +0.1% | +1.70% | 加碼 |
| 24 | GMOI | Gmo International Value ETF | +0.1% | +37.58% | 加碼 |
| 25 | LRCX | Lam Research CORP | +0.1% | -10.94% | 減碼 |
| 26 | ETN | Eaton Corporation plc | +0.1% | +4.80% | 加碼 |
| 27 | GLW | Corning Inc | +0.1% | -2.03% | 減碼 |
| 28 | AVAV | Aerovironment Inc | +0.1% | -8.88% | 減碼 |
| 29 | LITE | Lumentum Holdings Inc | +0.1% | -22.40% | 減碼 |
| 30 | KTOS | Kratos Defense & Security | +0.1% | -4.34% | 減碼 |
| 31 | TSLA | Tesla Inc | +0.1% | -8.93% | 減碼 |
| 32 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | -0.22% | 減碼 |
| 33 | C | Citigroup Inc | +0.1% | -1.11% | 減碼 |
| 34 | GS | Goldman Sachs Group Inc | +0.1% | -1.26% | 減碼 |
| 35 | AXP | American Express Co | +0.1% | -0.39% | 減碼 |
| 36 | COHR | Coherent CORP | +0.1% | -6.68% | 減碼 |
| 37 | VB | Vanguard Small-cap ETF | +0.1% | +2.36% | 加碼 |
| 38 | AMZN | Amazon.com Inc | +0.1% | -0.26% | 減碼 |
| 39 | QUAL | Ishares Msci USA Quality Fac | +0.1% | +0.70% | 加碼 |
| 40 | VGT | Vanguard Info Tech ETF | +0.1% | -4.33% | 減碼 |
| 41 | BLK | Blackrock Inc | +0.1% | -0.01% | 減碼 |
| 42 | VYM | Vanguard High Dvd Yield ETF | 0% | +1.74% | 加碼 |
| 43 | AAPL | Apple Inc | -0.1% | -2.72% | 減碼 |
| 44 | BABA | Alibaba Group Holding-sp Adr | -0.2% | -3.51% | 減碼 |
| 45 | IRDM | Iridium Communications Inc | -0.2% | +4.22% | 減碼 |
| 46 | GLNG | Golar LNG Limited | -0.2% | -3.69% | 減碼 |
| 47 | JNJ | Johnson & Johnson | -6.1% | -17.21% | 減碼 |
| 48 | ITCIEUR | Intra-cellular Therapies Inc | — | EXIT | 清倉 |
| 49 | FARO | Faro Technologies Inc | — | EXIT | 清倉 |
| 50 | UNIT | Uniti Group Inc. | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Pinnacle Associates LTD 在 Q3 2025 季度的美股持倉總市值約為 US$91.6億，共申報了 863 個公開持股部位。
在 Q3 2025 季度，Pinnacle Associates LTD 按市值排列的前三大核心持股分別為：AAPL (4.2%)、JNJ (4.1%)、MSFT (3.0%)。其中最大持股部位 AAPL 佔據整體投資組合約 4.2% 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。
本季最大獲利了結 / 清倉標的
ITCIEUR
前期市值: US$1785.5萬
在 Q3 2025 季度中，Pinnacle Associates LTD 共進行了 50 項持倉異動，包含新建倉 0 個部位、加碼 16 個部位、減碼 31 個部位以及清倉 3 個部位。 本季清倉部位包含 ITCIEUR。
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。