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: 0001027796
申報總市值
US$340.7億
US$340.7億
152 檔
19.4%
Pzena Investment Management LLC 在 Q2 2025 季度的美股部位總計估值為 US$340.7億，分散於 152 個持倉標的之中，反映其市場參與廣度與投資規模。
Pzena Investment Management LLC 於 Q2 2025 展現出進攻型調倉步調，本季推動了 4 檔股票的新建倉與 30 檔既有部位加碼，整體資金傾向擴大在美股市場的曝險佈局。
在資產配置集中度方面，Pzena Investment Management LLC 的前 5 大核心持股（包含 MGA, CTSH, DG 等）合計佔整體申報市值的 19.4%，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 | MGA | Magna International Inc | 股票-循環性消費 | 5.05% | +0.15% | +3.70% | |
| 2 | CTSH | Cognizant Tech Solutions-a | 股票-科技 | 4.43% | -1.02% | +2.20% | |
| 3 | DG | Dollar General CORP | 股票-非循環性消費 | 4.41% | +0.79% | -7.22% | |
| 4 | BAX | Baxter International Inc | 股票-醫療保健 | 3.87% | +0.57% | +6.97% | |
| 5 | C | Citigroup Inc | 股票-金融 | 3.76% | -0.73% | +1.82% | |
| 6 | CVS | Cvs Health CORP | 股票-醫療保健 | 3.76% | +0.36% | -5.29% | |
| 7 | COF | Capital One Financial CORP | 股票-金融 | 3.75% | — | -2.60% | |
| 8 | CHTR | Charter Communications Inc-a | 股票-通訊服務 | 3.52% | — | -4.79% | |
| 9 | HUM | Humana Inc | 股票-醫療保健 | 3.24% | +2.05% | +6.47% | |
| 10 | SWKS | Skyworks Solutions Inc | 股票-科技 | 2.96% | +0.38% | +57.26% | |
| 11 | GPN | Global Payments Inc | 股票-工業 | 2.88% | -0.05% | +32.59% | |
| 12 | SSNC | Ss&c Technologies Holdings | 股票-科技 | 2.82% | -0.12% | +0.36% | |
| 13 | WFC | Wells Fargo & Co | 股票-金融 | 2.70% | -0.13% | +5.52% | |
| 14 | UBS | UBS Group AG | 股票-金融 | 2.70% | +0.01% | +5.29% | |
| 15 | MDT | Medtronic plc | 股票-醫療保健 | 2.51% | -0.17% | +5.59% | |
| 16 | TSN | Tyson Foods Inc-cl A | 股票-非循環性消費 | 2.49% | -0.71% | +3.35% | |
| 17 | MET | Metlife Inc | 股票-金融 | 2.39% | +0.16% | +6.84% | |
| 18 | LEA | Lear CORP | 股票-循環性消費 | 2.35% | -0.05% | -0.81% | |
| 19 | DOW | Dow Inc | 股票-原物料 | 2.33% | -1.56% | +8.55% | |
| 20 | BMY | Bristol-myers Squibb Co | 股票-醫療保健 | 2.23% | -0.49% | +10.29% | |
| 21 | CRBG | Corebridge Financial Inc | 股票-金融 | 2.16% | +0.74% | +132.58% | |
| 22 | DOX | Amdocs Limited | 股票-科技 | 1.94% | -0.62% | +2.06% | |
| 23 | NOV | Nov Inc | 股票-能源 | 1.73% | -0.31% | +2.75% | |
| 24 | PVH | Pvh CORP | 股票-循環性消費 | 1.43% | -0.01% | +3.99% | |
| 25 | FMS | Fresenius Medical Care-adr | 股票-其他 | 1.36% | -0.10% | -4.64% | |
| 26 | TEL | TE Connectivity plc | 股票-科技 | 1.33% | -0.08% | -2.03% | |
| 27 | AVT | Avnet Inc | 股票-科技 | 1.27% | -0.33% | +2.93% | |
| 28 | NOK | Nokia Corp-spon Adr | 股票-科技 | 1.16% | -1.46% | -14.66% | |
| 29 | BAC | Bank Of America CORP | 股票-金融 | 1.01% | +0.04% | +3.52% | |
| 30 | NWL | Newell Brands Inc | 股票-非循環性消費 | 0.85% | +0.33% | -0.75% | |
| 31 | VOYA | Voya Financial Inc | 股票-金融 | 0.85% | +0.13% | +1.73% | |
| 32 | SHEL | Shell Plc-adr | 股票-能源 | 0.84% | -0.38% | +2.03% | |
| 33 | EQH | Equitable Holdings Inc | 股票-金融 | 0.77% | +0.18% | -28.14% | |
| 34 | BAP | Credicorp Ltd. | 股票-金融 | 0.75% | -0.04% | -1.69% | |
| 35 | DAL | Delta Air Lines Inc | 股票-工業 | 0.69% | +0.11% | +1.91% | |
| 36 | AAP | Advance Auto Parts Inc | 股票-循環性消費 | 0.66% | +0.06% | +1.91% | |
| 37 | CI | THE Cigna Group | 股票-醫療保健 | 0.56% | -0.05% | +9.66% | |
| 38 | PFE | Pfizer Inc | 股票-醫療保健 | 0.52% | -0.12% | -7.08% | |
| 39 | KSPI | Jsc Kaspi.kz Adr | 股票-其他 | 0.46% | +0.14% | +17.28% | |
| 40 | ZTO | Zto Express Cayman Inc-adr | 股票-其他 | 0.44% | -0.13% | -1.36% | |
| 41 | MHK | Mohawk Industries Inc | 股票-循環性消費 | 0.40% | +0.04% | +5.36% | |
| 42 | CNXC | Concentrix CORP | 股票-科技 | 0.39% | -0.04% | -0.44% | |
| 43 | GL | Globe Life Inc | 股票-金融 | 0.38% | +0.25% | +0.54% | |
| 44 | PPG | Ppg Industries Inc | 股票-原物料 | 0.38% | +0.18% | +5.25% | |
| 45 | MS | Morgan Stanley | 股票-金融 | 0.36% | +0.03% | +3.67% | |
| 46 | CSCO | Cisco Systems Inc | 股票-科技 | 0.36% | +0.11% | -12.54% | |
| 47 | ✓ | Wns Holdings LTD | 股票-其他 | 0.34% | — | — | |
| 48 | LKQ | Lkq CORP | 股票-循環性消費 | 0.34% | +0.58% | +176.89% | |
| 49 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.32% | — | +9.63% | |
| 50 | CNO | Cno Financial Group Inc | 股票-金融 | 0.32% | +0.04% | -0.49% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CRBG | Corebridge Financial Inc | +1.3% | +132.58% | 加碼 |
| 2 | SWKS | Skyworks Solutions Inc | +1.2% | +57.26% | 加碼 |
| 3 | DG | Dollar General CORP | +0.5% | -7.22% | 減碼 |
| 4 | C | Citigroup Inc | +0.5% | +1.82% | 加碼 |
| 5 | ✓ | Wns Holdings LTD | +0.3% | NEW | 新建倉 |
| 6 | COF | Capital One Financial CORP | +0.3% | -2.60% | 減碼 |
| 7 | WFC | Wells Fargo & Co | +0.2% | +5.52% | 加碼 |
| 8 | MGA | Magna International Inc | +0.2% | +3.70% | 加碼 |
| 9 | LKQ | Lkq CORP | +0.2% | +176.89% | 加碼 |
| 10 | OSK | Oshkosh CORP | +0.2% | NEW | 新建倉 |
| 11 | ARCO | Arcos Dorados Holdings Inc. | +0.2% | NEW | 新建倉 |
| 12 | TFX | Teleflex Inc | +0.1% | NEW | 新建倉 |
| 13 | TEL | TE Connectivity plc | +0.1% | -2.03% | 減碼 |
| 14 | GPC | Genuine Parts Co | +0.1% | +98.03% | 加碼 |
| 15 | HAL | Halliburton Co | +0.1% | +134.68% | 加碼 |
| 16 | BAC | Bank Of America CORP | +0.1% | +3.52% | 加碼 |
| 17 | ADNT | Adient plc | +0.1% | +7.00% | 加碼 |
| 18 | AVT | Avnet Inc | +0.1% | +2.93% | 加碼 |
| 19 | AAP | Advance Auto Parts Inc | +0.1% | +1.91% | 加碼 |
| 20 | BAP | Credicorp Ltd. | +0.1% | -1.69% | 減碼 |
| 21 | RHI | Robert Half Inc | +0.1% | +80.27% | 加碼 |
| 22 | SPARUSD | Shyft Group Inc/the | +0.1% | +16.05% | 加碼 |
| 23 | DAL | Delta Air Lines Inc | +0.1% | +1.91% | 加碼 |
| 24 | JPM | Jpmorgan Chase & Co | +0.1% | +9.63% | 加碼 |
| 25 | MS | Morgan Stanley | +0.1% | +3.67% | 加碼 |
| 26 | PVH | Pvh CORP | 0% | +3.99% | 加碼 |
| 27 | GPN | Global Payments Inc | 0% | +32.59% | 加碼 |
| 28 | FMS | Fresenius Medical Care-adr | 0% | -4.64% | 減碼 |
| 29 | MET | Metlife Inc | 0% | +6.84% | 加碼 |
| 30 | LEA | Lear CORP | 0% | -0.81% | 減碼 |
| 31 | UBS | UBS Group AG | -0.1% | +5.29% | 加碼 |
| 32 | CHTR | Charter Communications Inc-a | -0.1% | -4.79% | 減碼 |
| 33 | DAN | Dana Inc | -0.1% | -89.53% | 減碼 |
| 34 | SPB | Spectrum Brands Holdings Inc | -0.1% | +10.53% | 加碼 |
| 35 | UVV | Universal Corp/va | -0.1% | -45.50% | 減碼 |
| 36 | HUN | Huntsman CORP | -0.1% | +9.30% | 加碼 |
| 37 | PFE | Pfizer Inc | -0.1% | -7.08% | 減碼 |
| 38 | ZTO | Zto Express Cayman Inc-adr | -0.1% | -1.36% | 減碼 |
| 39 | MDT | Medtronic plc | -0.1% | +5.59% | 加碼 |
| 40 | CTSH | Cognizant Tech Solutions-a | -0.1% | +2.20% | 加碼 |
| 41 | JELD | Jeld-wen Holding Inc | -0.2% | EXIT | 清倉 |
| 42 | NWL | Newell Brands Inc | -0.2% | -0.75% | 減碼 |
| 43 | EQH | Equitable Holdings Inc | -0.3% | -28.14% | 減碼 |
| 44 | NOK | Nokia Corp-spon Adr | -0.3% | -14.66% | 減碼 |
| 45 | CVS | Cvs Health CORP | -0.4% | -5.29% | 減碼 |
| 46 | TSN | Tyson Foods Inc-cl A | -0.5% | +3.35% | 加碼 |
| 47 | NOV | Nov Inc | -0.5% | +2.75% | 加碼 |
| 48 | BAX | Baxter International Inc | -0.5% | +6.97% | 加碼 |
| 49 | BMY | Bristol-myers Squibb Co | -0.6% | +10.29% | 加碼 |
| 50 | DOW | Dow Inc | -0.7% | +8.55% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Pzena Investment Management LLC 在 Q2 2025 季度的美股持倉總市值約為 US$340.7億，共申報了 152 個公開持股部位。
在 Q2 2025 季度，Pzena Investment Management LLC 按市值排列的前三大核心持股分別為：MGA (5.0%)、CTSH (4.4%)、DG (4.4%)。其中最大持股部位 MGA 佔據整體投資組合約 5.0% 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
WNS HOLDINGS LTD
市值: US$1.1億
本季最大獲利了結 / 清倉標的
JELD
前期市值: US$6155.8萬
在 Q2 2025 季度中，Pzena Investment Management LLC 共進行了 50 項持倉異動，包含新建倉 4 個部位、加碼 30 個部位、減碼 15 個部位以及清倉 1 個部位。 其中最大新建倉標的為 WNS HOLDINGS LTD。 本季清倉部位包含 JELD。
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。