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
154 檔
20.2%
截至 Q3 2025 季度末，Pzena Investment Management LLC 的美股持倉估值約為 US$340.7億，全數申報部位共有 154 檔。
在 Q3 2025，Pzena Investment Management LLC 操作展現出積極擴展與加碼意向。本季共新建倉 6 個新部位，並對 26 個既有持股進行加碼（合計增持 32 檔），相較減碼與清倉部位顯著佔優。
檢視投資組合結構，前 5 大主力部位（包含 MGA, BAX, C）占據了總市值的 20.2%，展現出該機構在 Q3 2025 的重點資金聚焦與風險分佈特徵。
| # | 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 | 6.19% | +0.15% | -1.47% | |
| 2 | BAX | Baxter International Inc | 股票-醫療保健 | 4.22% | +0.57% | +45.89% | |
| 3 | C | Citigroup Inc | 股票-金融 | 4.11% | -0.73% | -7.68% | |
| 4 | DG | Dollar General CORP | 股票-非循環性消費 | 3.90% | +0.79% | -1.45% | |
| 5 | CVS | Cvs Health CORP | 股票-醫療保健 | 3.86% | +0.36% | -5.39% | |
| 6 | CTSH | Cognizant Tech Solutions-a | 股票-科技 | 3.84% | -1.02% | +1.49% | |
| 7 | COF | Capital One Financial CORP | 股票-金融 | 3.47% | — | -6.81% | |
| 8 | HUM | Humana Inc | 股票-醫療保健 | 3.39% | +2.05% | -1.12% | |
| 9 | UBS | UBS Group AG | 股票-金融 | 3.13% | +0.01% | -3.74% | |
| 10 | SWKS | Skyworks Solutions Inc | 股票-科技 | 3.05% | +0.38% | +0.53% | |
| 11 | GPN | Global Payments Inc | 股票-工業 | 2.93% | -0.05% | -1.28% | |
| 12 | SSNC | Ss&c Technologies Holdings | 股票-科技 | 2.92% | -0.12% | -2.72% | |
| 13 | WFC | Wells Fargo & Co | 股票-金融 | 2.77% | -0.13% | -1.49% | |
| 14 | MET | Metlife Inc | 股票-金融 | 2.57% | +0.16% | +5.77% | |
| 15 | LEA | Lear CORP | 股票-循環性消費 | 2.44% | -0.05% | -1.39% | |
| 16 | TSN | Tyson Foods Inc-cl A | 股票-非循環性消費 | 2.43% | -0.71% | +0.88% | |
| 17 | CRBG | Corebridge Financial Inc | 股票-金融 | 2.31% | +0.74% | +19.26% | |
| 18 | BMY | Bristol-myers Squibb Co | 股票-醫療保健 | 2.17% | -0.49% | +0.39% | |
| 19 | DOW | Dow Inc | 股票-原物料 | 2.01% | -1.56% | +0.28% | |
| 20 | MDT | Medtronic plc | 股票-醫療保健 | 1.82% | -0.17% | -33.06% | |
| 21 | NOV | Nov Inc | 股票-能源 | 1.82% | -0.31% | -0.75% | |
| 22 | DOX | Amdocs Limited | 股票-科技 | 1.75% | -0.62% | +0.64% | |
| 23 | PVH | Pvh CORP | 股票-循環性消費 | 1.69% | -0.01% | -2.38% | |
| 24 | TEL | TE Connectivity plc | 股票-科技 | 1.34% | -0.08% | -21.87% | |
| 25 | FMS | Fresenius Medical Care-adr | 股票-其他 | 1.26% | -0.10% | +1.05% | |
| 26 | NOK | Nokia Corp-spon Adr | 股票-科技 | 1.25% | -1.46% | +16.99% | |
| 27 | AVT | Avnet Inc | 股票-科技 | 1.21% | -0.33% | -2.70% | |
| 28 | BAC | Bank Of America CORP | 股票-金融 | 1.08% | +0.04% | -1.11% | |
| 29 | UHS | Universal Health Services-b | 股票-醫療保健 | 1.06% | -0.25% | +310.23% | |
| 30 | BAP | Credicorp Ltd. | 股票-金融 | 0.91% | -0.04% | +2.47% | |
| 31 | VOYA | Voya Financial Inc | 股票-金融 | 0.88% | +0.13% | -0.42% | |
| 32 | NWL | Newell Brands Inc | 股票-非循環性消費 | 0.81% | +0.33% | -1.51% | |
| 33 | AAP | Advance Auto Parts Inc | 股票-循環性消費 | 0.79% | +0.06% | -9.10% | |
| 34 | SHEL | Shell Plc-adr | 股票-能源 | 0.78% | -0.38% | -8.04% | |
| 35 | DAL | Delta Air Lines Inc | 股票-工業 | 0.78% | +0.11% | -1.90% | |
| 36 | EQH | Equitable Holdings Inc | 股票-金融 | 0.71% | +0.18% | +1.32% | |
| 37 | PPG | Ppg Industries Inc | 股票-原物料 | 0.59% | +0.18% | +72.35% | |
| 38 | PFE | Pfizer Inc | 股票-醫療保健 | 0.54% | -0.12% | +0.86% | |
| 39 | ZTO | Zto Express Cayman Inc-adr | 股票-其他 | 0.50% | -0.13% | +4.93% | |
| 40 | CI | THE Cigna Group | 股票-醫療保健 | 0.49% | -0.05% | +1.19% | |
| 41 | MHK | Mohawk Industries Inc | 股票-循環性消費 | 0.49% | +0.04% | +0.28% | |
| 42 | GL | Globe Life Inc | 股票-金融 | 0.46% | +0.25% | +5.55% | |
| 43 | KSPI | Jsc Kaspi.kz Adr | 股票-其他 | 0.46% | +0.14% | +3.06% | |
| 44 | HAL | Halliburton Co | 股票-能源 | 0.43% | -0.12% | +43.18% | |
| 45 | SPB | Spectrum Brands Holdings Inc | 股票-其他 | 0.42% | +0.05% | +66.81% | |
| 46 | MS | Morgan Stanley | 股票-金融 | 0.40% | +0.03% | -0.70% | |
| 47 | CHTR | Charter Communications Inc-a | 股票-通訊服務 | 0.36% | — | -84.71% | |
| 48 | RHI | Robert Half Inc | 股票-工業 | 0.35% | +0.07% | +33.77% | |
| 49 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.35% | — | -0.67% | |
| 50 | CSCO | Cisco Systems Inc | 股票-科技 | 0.34% | +0.11% | -3.47% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CRBG | Corebridge Financial Inc | +1.4% | +19.26% | 加碼 |
| 2 | MGA | Magna International Inc | +1.3% | -1.47% | 加碼 |
| 3 | SWKS | Skyworks Solutions Inc | +1.3% | +0.53% | 加碼 |
| 4 | C | Citigroup Inc | +0.8% | -7.68% | 減碼 |
| 5 | UHS | Universal Health Services-b | +0.8% | +310.23% | 加碼 |
| 6 | UBS | UBS Group AG | +0.4% | -3.74% | 加碼 |
| 7 | WFC | Wells Fargo & Co | +0.3% | -1.49% | 加碼 |
| 8 | PVH | Pvh CORP | +0.3% | -2.38% | 加碼 |
| 9 | HAL | Halliburton Co | +0.3% | +43.18% | 加碼 |
| 10 | BAP | Credicorp Ltd. | +0.2% | +2.47% | 加碼 |
| 11 | PPG | Ppg Industries Inc | +0.2% | +72.35% | 加碼 |
| 12 | AAP | Advance Auto Parts Inc | +0.2% | -9.10% | 減碼 |
| 13 | LKQ | Lkq CORP | +0.2% | +19.91% | 加碼 |
| 14 | MET | Metlife Inc | +0.2% | +5.77% | 加碼 |
| 15 | BAC | Bank Of America CORP | +0.2% | -1.11% | 加碼 |
| 16 | REZI | Resideo Technologies Inc | +0.2% | -17.96% | 減碼 |
| 17 | DAL | Delta Air Lines Inc | +0.1% | -1.90% | 減碼 |
| 18 | GPC | Genuine Parts Co | +0.1% | +1.51% | 加碼 |
| 19 | TEL | TE Connectivity plc | +0.1% | -21.87% | 減碼 |
| 20 | ADNT | Adient plc | +0.1% | -11.61% | 減碼 |
| 21 | RHI | Robert Half Inc | +0.1% | +33.77% | 加碼 |
| 22 | MS | Morgan Stanley | +0.1% | -0.70% | 加碼 |
| 23 | SPB | Spectrum Brands Holdings Inc | +0.1% | +66.81% | 加碼 |
| 24 | GPN | Global Payments Inc | +0.1% | -1.28% | 加碼 |
| 25 | LEA | Lear CORP | +0.1% | -1.39% | 減碼 |
| 26 | COF | Capital One Financial CORP | 0% | -6.81% | 減碼 |
| 27 | DG | Dollar General CORP | 0% | -1.45% | 減碼 |
| 28 | SSNC | Ss&c Technologies Holdings | -0.1% | -2.72% | 減碼 |
| 29 | UVV | Universal Corp/va | -0.1% | -32.09% | 減碼 |
| 30 | HUM | Humana Inc | -0.2% | -1.12% | 加碼 |
| 31 | BAX | Baxter International Inc | -0.2% | +45.89% | 加碼 |
| 32 | GJB | Steelcase Inc-cl A | -0.2% | -93.20% | 減碼 |
| 33 | NOK | Nokia Corp-spon Adr | -0.2% | +16.99% | 減碼 |
| 34 | NWL | Newell Brands Inc | -0.3% | -1.51% | 減碼 |
| 35 | DOX | Amdocs Limited | -0.3% | +0.64% | 加碼 |
| 36 | EQH | Equitable Holdings Inc | -0.4% | +1.32% | 減碼 |
| 37 | NOV | Nov Inc | -0.4% | -0.75% | 加碼 |
| 38 | TSN | Tyson Foods Inc-cl A | -0.5% | +0.88% | 加碼 |
| 39 | BMY | Bristol-myers Squibb Co | -0.7% | +0.39% | 加碼 |
| 40 | CTSH | Cognizant Tech Solutions-a | -0.7% | +1.49% | 加碼 |
| 41 | MDT | Medtronic plc | -0.8% | -33.06% | 減碼 |
| 42 | DOW | Dow Inc | -1% | +0.28% | 加碼 |
| 43 | CHTR | Charter Communications Inc-a | -3.2% | -84.71% | 減碼 |
| 44 | ACN | Accenture plc | — | NEW | 新建倉 |
| 45 | ARCO | Arcos Dorados Holdings Inc. | — | NEW | 新建倉 |
| 46 | OSK | Oshkosh CORP | — | NEW | 新建倉 |
| 47 | JELD | Jeld-wen Holding Inc | — | EXIT | 清倉 |
| 48 | ✓ | Aebi Schmidt Hldg AG | — | NEW | 新建倉 |
| 49 | ✓ | Wns Holdings LTD | — | NEW | 新建倉 |
| 50 | TFX | Teleflex Inc | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Pzena Investment Management LLC 在 Q3 2025 季度的美股持倉總市值約為 US$340.7億，共申報了 154 個公開持股部位。
在 Q3 2025 季度，Pzena Investment Management LLC 按市值排列的前三大核心持股分別為：MGA (6.2%)、BAX (4.2%)、C (4.1%)。其中最大持股部位 MGA 佔據整體投資組合約 6.2% 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。
本季最大新建倉標的
ACN
市值: US$8333.4萬
本季最大獲利了結 / 清倉標的
JELD
前期市值: US$6155.8萬
在 Q3 2025 季度中，Pzena Investment Management LLC 共進行了 50 項持倉異動，包含新建倉 6 個部位、加碼 26 個部位、減碼 17 個部位以及清倉 1 個部位。 其中最大新建倉標的為 ACN。 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。