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: 0001658020
申報總市值
US$79.5億
US$79.5億
117 檔
16.9%
Q3 2025 季度申報顯示，Railway Pension Investments Ltd 揭露的美股組合總市值為 US$79.5億，涵蓋 117 個不同之權益投資部位。
在 Q3 2025，Railway Pension Investments Ltd 展現出較為審慎的避險與獲利了結姿態。本季共減碼 42 個部位並完全清倉 97 檔持股，調降曝險的部位數量高於加碼動作。
檢視投資組合結構，前 5 大主力部位（包含 MSFT, GOOGL, V）占據了總市值的 16.9%，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 | MSFT | Microsoft CORP | 股票-科技 | 6.57% | -2.45% | +199.17% | |
| 2 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 3.60% | +0.40% | +79.81% | |
| 3 | V | Visa Inc-class A Shares | 股票-金融 | 2.72% | +0.30% | +63.57% | |
| 4 | ABBV | Abbvie Inc | 股票-醫療保健 | 2.68% | +0.03% | +32.98% | |
| 5 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.66% | -0.35% | +89.58% | |
| 6 | JNJ | Johnson & Johnson | 股票-醫療保健 | 2.64% | -0.18% | +57.41% | |
| 7 | NVDA | Nvidia CORP | 股票-科技 | 2.59% | +2.44% | — | |
| 8 | IDXX | Idexx Laboratories Inc | 股票-醫療保健 | 2.57% | -1.75% | +92.14% | |
| 9 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.56% | -0.83% | +66.31% | |
| 10 | PANW | Palo Alto Networks Inc | 股票-科技 | 2.54% | -2.24% | EXIT | |
| 11 | MA | Mastercard Inc - A | 股票-金融 | 2.54% | -0.21% | +267.86% | |
| 12 | AVGO | Broadcom Inc | 股票-科技 | 2.52% | +0.73% | +54.35% | |
| 13 | AAPL | Apple Inc | 股票-科技 | 2.51% | +2.34% | +49.50% | |
| 14 | LNG | Cheniere Energy Inc | 股票-能源 | 2.47% | -1.69% | +62.90% | |
| 15 | NEE | Nextera Energy Inc | 股票-公用事業 | 2.41% | -0.81% | +90.26% | |
| 16 | NOW | Servicenow Inc | 股票-科技 | 2.30% | -1.33% | EXIT | |
| 17 | TXN | Texas Instruments Inc | 股票-科技 | 2.24% | +0.14% | +156.54% | |
| 18 | EQIX | Equinix Inc | 股票-房地產 | 2.17% | -0.73% | +101.61% | |
| 19 | SPGI | S&p Global Inc | 股票-金融 | 2.16% | — | +76.01% | |
| 20 | PEG | Public Service Enterprise Gp | 股票-公用事業 | 2.15% | -0.59% | +97.54% | |
| 21 | GILD | Gilead Sciences Inc | 股票-醫療保健 | 2.13% | -0.53% | +3.07% | |
| 22 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 2.09% | -0.60% | +174.64% | |
| 23 | DHR | Danaher CORP | 股票-醫療保健 | 1.85% | — | +148.43% | |
| 24 | ORLY | O'reilly Automotive Inc | 股票-循環性消費 | 1.77% | -1.52% | EXIT | |
| 25 | LPLA | Lpl Financial Holdings Inc | 股票-金融 | 1.64% | — | +276.58% | |
| 26 | MO | Altria Group Inc | 股票-非循環性消費 | 1.53% | -0.07% | — | |
| 27 | CEG | Constellation Energy | 股票-公用事業 | 1.52% | -0.58% | -8.42% | |
| 28 | AZO | Autozone Inc | 股票-循環性消費 | 1.38% | — | — | |
| 29 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.33% | — | +2.33% | |
| 30 | MCK | Mckesson CORP | 股票-醫療保健 | 1.32% | -0.33% | — | |
| 31 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 1.28% | — | — | |
| 32 | FAST | Fastenal Co | 股票-工業 | 1.25% | -0.11% | +1.32% | |
| 33 | CSCO | Cisco Systems Inc | 股票-科技 | 1.19% | +0.48% | — | |
| 34 | PM | Philip Morris International | 股票-非循環性消費 | 1.13% | — | +2.92% | |
| 35 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 1.00% | -0.69% | EXIT | |
| 36 | CL | Colgate-palmolive Co | 股票-非循環性消費 | 0.86% | -0.01% | — | |
| 37 | GWW | Ww Grainger Inc | 股票-工業 | 0.81% | +0.06% | +3.61% | |
| 38 | KR | Kroger Co | 股票-非循環性消費 | 0.73% | -0.01% | — | |
| 39 | HD | Home Depot Inc | 股票-循環性消費 | 0.71% | — | — | |
| 40 | BMY | Bristol-myers Squibb Co | 股票-醫療保健 | 0.70% | -0.15% | +3.67% | |
| 41 | MSI | Motorola Solutions Inc | 股票-科技 | 0.63% | -0.08% | +6.40% | |
| 42 | HCA | Hca Healthcare Inc | 股票-醫療保健 | 0.62% | -0.17% | — | |
| 43 | ROL | Rollins Inc | 股票-循環性消費 | 0.60% | -0.15% | — | |
| 44 | TJX | Tjx Companies Inc | 股票-循環性消費 | 0.60% | -0.10% | — | |
| 45 | HPQ | Hp Inc | 股票-科技 | 0.59% | +0.10% | +6.13% | |
| 46 | OTIS | Otis Worldwide CORP | 股票-工業 | 0.58% | -0.09% | — | |
| 47 | IBM | Intl Business Machines CORP | 股票-科技 | 0.58% | +0.01% | +2.09% | |
| 48 | CTAS | Cintas CORP | 股票-工業 | 0.57% | -0.05% | — | |
| 49 | NTAP | Netapp Inc | 股票-科技 | 0.55% | +0.28% | +6.16% | |
| 50 | WMT | Walmart Inc | 股票-非循環性消費 | 0.54% | -0.60% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +4.5% | +199.17% | 加碼 |
| 2 | MA | Mastercard Inc - A | +2.2% | +267.86% | 加碼 |
| 3 | GOOGL | Alphabet Inc-cl A | +2.1% | +79.81% | 加碼 |
| 4 | IDXX | Idexx Laboratories Inc | +1.6% | +92.14% | 加碼 |
| 5 | AVGO | Broadcom Inc | +1.5% | +54.35% | 加碼 |
| 6 | LPLA | Lpl Financial Holdings Inc | +1.3% | +276.58% | 加碼 |
| 7 | PANW | Palo Alto Networks Inc | +1.3% | +104.14% | 加碼 |
| 8 | TMO | Thermo Fisher Scientific Inc | +1.2% | +174.64% | 加碼 |
| 9 | TXN | Texas Instruments Inc | +1.2% | +156.54% | 加碼 |
| 10 | AMZN | Amazon.com Inc | +1.2% | +89.58% | 加碼 |
| 11 | PEG | Public Service Enterprise Gp | +1.1% | +97.54% | 加碼 |
| 12 | NEE | Nextera Energy Inc | +1.1% | +90.26% | 加碼 |
| 13 | NOW | Servicenow Inc | +1.1% | +101.53% | 加碼 |
| 14 | JNJ | Johnson & Johnson | +1% | +57.41% | 加碼 |
| 15 | DHR | Danaher CORP | +1% | +148.43% | 加碼 |
| 16 | LNG | Cheniere Energy Inc | +0.9% | +62.90% | 加碼 |
| 17 | META | Meta Platforms Inc-class A | +0.9% | +66.31% | 加碼 |
| 18 | EQIX | Equinix Inc | +0.8% | +101.61% | 加碼 |
| 19 | AAPL | Apple Inc | +0.7% | +49.50% | 加碼 |
| 20 | SPGI | S&p Global Inc | +0.6% | +76.01% | 加碼 |
| 21 | ABBV | Abbvie Inc | +0.5% | +32.98% | 加碼 |
| 22 | V | Visa Inc-class A Shares | +0.5% | +63.57% | 加碼 |
| 23 | CEG | Constellation Energy | +0.4% | -8.42% | 減碼 |
| 24 | PFE | Pfizer Inc | +0.4% | — | 加碼 |
| 25 | BMY | Bristol-myers Squibb Co | +0.3% | +3.67% | 加碼 |
| 26 | QCOM | Qualcomm Inc | +0.3% | +5.17% | 加碼 |
| 27 | EXPE | Expedia Group Inc | +0.3% | +19.63% | 加碼 |
| 28 | MCD | Mcdonald's CORP | +0.3% | +28.89% | 加碼 |
| 29 | MRK | Merck & Co. Inc. | +0.2% | +2.33% | 加碼 |
| 30 | NTAP | Netapp Inc | +0.2% | +6.16% | 加碼 |
| 31 | FAST | Fastenal Co | +0.1% | +1.32% | 加碼 |
| 32 | HCA | Hca Healthcare Inc | +0.1% | — | 加碼 |
| 33 | APH | Amphenol Corp-cl A | +0.1% | — | 減碼 |
| 34 | EME | Emcor Group Inc | +0.1% | +7.29% | 減碼 |
| 35 | AMGN | Amgen Inc | +0.1% | +9.31% | 加碼 |
| 36 | YUM | Yum! Brands Inc | +0.1% | — | 加碼 |
| 37 | LOW | Lowe's Cos Inc | +0.1% | — | 加碼 |
| 38 | VZ | Verizon Communications Inc | +0.1% | — | 加碼 |
| 39 | INTU | Intuit Inc | +0.1% | — | 加碼 |
| 40 | TT | Trane Technologies plc | +0.1% | +14.21% | 加碼 |
| 41 | TJX | Tjx Companies Inc | +0.1% | — | 減碼 |
| 42 | ORLY | O'reilly Automotive Inc | 0% | — | 加碼 |
| 43 | ADSK | Autodesk Inc | 0% | +17.80% | 加碼 |
| 44 | DPZ | Domino's Pizza Inc | 0% | +304.17% | 加碼 |
| 45 | BKNG | Booking Holdings Inc | 0% | +0.16% | 減碼 |
| 46 | EA | Electronic Arts Inc | 0% | -5.21% | 減碼 |
| 47 | PH | Parker Hannifin CORP | 0% | +2.00% | 減碼 |
| 48 | RMD | Resmed Inc | 0% | +299.38% | 加碼 |
| 49 | FFIV | F5 Inc | 0% | +27.01% | 加碼 |
| 50 | HLT | Hilton Worldwide Holdings In | 0% | +14.97% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Railway Pension Investments Ltd 在 Q3 2025 季度的美股持倉總市值約為 US$79.5億，共申報了 117 個公開持股部位。
在 Q3 2025 季度，Railway Pension Investments Ltd 按市值排列的前三大核心持股分別為：MSFT (6.6%)、GOOGL (3.6%)、V (2.7%)。其中最大持股部位 MSFT 佔據整體投資組合約 6.6% 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
NVDA
市值: US$1.9億
本季最大獲利了結 / 清倉標的
CNP
前期市值: US$8332.0萬
在 Q3 2025 季度中，Railway Pension Investments Ltd 共進行了 197 項持倉異動，包含新建倉 5 個部位、加碼 53 個部位、減碼 42 個部位以及清倉 97 個部位。 其中最大新建倉標的為 NVDA。 本季清倉部位包含 CNP。
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。