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: 0000740913
申報總市值
US$65.9億
US$65.9億
87 檔
28.6%
截至 Q4 2025 季度末，Reaves W H & Co Inc 的美股持倉估值約為 US$65.9億，全數申報部位共有 87 檔。
觀察 Q4 2025 的申報異動，Reaves W H & Co Inc 採取了強勁的買進策略，建倉與加碼動作（合計 28 筆）涵蓋多個核心板塊，展現機構對特定產業前景之樂觀態度。
整體而言，Reaves W H & Co Inc 的前 5 大持股（包含 TLN, CEG, VST）貢獻了組合市值的 28.6%，形成該機構在 Q4 2025 季度的基本面基石。
| # | 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 | TLN | Talen Energy CORP | 股票-公用事業 | 9.98% | +0.61% | +7.88% | |
| 2 | CEG | Constellation Energy | 股票-公用事業 | 7.01% | -0.64% | +11.68% | |
| 3 | VST | Vistra CORP | 股票-公用事業 | 6.20% | -0.25% | +14.53% | |
| 4 | CNP | Centerpoint Energy Inc | 股票-公用事業 | 5.14% | -0.59% | +6.18% | |
| 5 | XEL | Xcel Energy Inc | 股票-公用事業 | 4.62% | -0.59% | +13.14% | |
| 6 | IDA | Idacorp Inc | 股票-公用事業 | 4.00% | -0.21% | +6.30% | |
| 7 | NI | Nisource Inc | 股票-公用事業 | 3.96% | -0.23% | +8.29% | |
| 8 | ETR | Entergy CORP | 股票-公用事業 | 3.96% | +1.01% | +6.91% | |
| 9 | LNT | Alliant Energy CORP | 股票-公用事業 | 3.48% | -0.34% | +71.84% | |
| 10 | SRE | Sempra | 股票-公用事業 | 3.31% | -0.66% | +34.12% | |
| 11 | PPL | Ppl CORP | 股票-公用事業 | 2.71% | -2.35% | EXIT | |
| 12 | PNW | Pinnacle West Capital | 股票-公用事業 | 2.67% | -0.32% | -4.67% | |
| 13 | CMS | Cms Energy CORP | 股票-公用事業 | 2.55% | -0.50% | -2.87% | |
| 14 | TXNM | Txnm Energy Inc | 股票-公用事業 | 2.55% | -0.04% | EXIT | |
| 15 | CCJ | Cameco CORP | 股票-能源 | 2.33% | -0.29% | -0.12% | |
| 16 | MP | Mp Materials CORP | 股票-原物料 | 2.31% | +0.13% | +0.76% | |
| 17 | EQIX | Equinix Inc | 股票-房地產 | 2.26% | -0.08% | +6.52% | |
| 18 | PWR | Quanta Services Inc | 股票-工業 | 2.00% | +0.41% | -0.13% | |
| 19 | EPD | Enterprise Products Partners | 股票-能源 | 1.96% | -0.24% | — | |
| 20 | AEE | Ameren Corporation | 股票-公用事業 | 1.89% | -0.51% | +12.52% | |
| 21 | NEE | Nextera Energy Inc | 股票-公用事業 | 1.87% | -0.11% | +123.93% | |
| 22 | DTM | Dt Midstream Inc | 股票-能源 | 1.60% | +0.31% | +9.37% | |
| 23 | NRG | Nrg Energy Inc | 股票-公用事業 | 1.59% | -0.36% | +93.46% | |
| 24 | OGE | Oge Energy CORP | 股票-公用事業 | 1.45% | -0.16% | +45.55% | |
| 25 | WMB | Williams Cos Inc | 股票-能源 | 1.36% | -0.14% | +18.84% | |
| 26 | SBAC | Sba Communications CORP | 股票-房地產 | 1.23% | -0.06% | -10.91% | |
| 27 | GLW | Corning Inc | 股票-科技 | 1.16% | +1.05% | +50.45% | |
| 28 | EQT | Eqt CORP | 股票-能源 | 1.09% | -0.39% | +12.90% | |
| 29 | DTE | Dte Energy Company | 股票-公用事業 | 0.94% | +0.55% | -28.83% | |
| 30 | DY | Dycom Industries Inc | 股票-工業 | 0.85% | +0.62% | -0.15% | |
| 31 | GEV | GE Vernova Inc | 股票-工業 | 0.84% | +0.49% | +389.35% | |
| 32 | PEG | Public Service Enterprise Gp | 股票-公用事業 | 0.79% | -0.24% | -70.47% | |
| 33 | LEU | Centrus Energy Corp-class A | 股票-能源 | 0.74% | -0.03% | -16.42% | |
| 34 | WEC | Wec Energy Group Inc | 股票-公用事業 | 0.70% | +0.38% | +59.96% | |
| 35 | NSC | Norfolk Southern CORP | 股票-工業 | 0.66% | — | -19.98% | |
| 36 | MPLX | Mplx LP | 股票-能源 | 0.63% | -0.07% | — | |
| 37 | OKE | Oneok Inc | 股票-能源 | 0.59% | — | -20.95% | |
| 38 | TMUS | T-mobile US Inc | 股票-通訊服務 | 0.53% | +0.07% | -0.73% | |
| 39 | CCI | Crown Castle Inc | 股票-房地產 | 0.51% | -0.39% | EXIT | |
| 40 | ✓ | 股票-其他 | 0.48% | -0.46% | EXIT | ||
| 41 | MPC | Marathon Petroleum CORP | 股票-能源 | 0.48% | -0.67% | +67.00% | |
| 42 | ✓ | Rice Acquisition CORP 3 | 股票-其他 | 0.44% | -0.03% | — | |
| 43 | ✓ | NATIONAL FUEL GAS - Restricted | 股票-其他 | 0.44% | — | — | |
| 44 | FYBR | Frontier Communications Pare | 股票-其他 | 0.39% | — | -0.71% | |
| 45 | TIC | Tic Solutions Inc | 股票-其他 | 0.38% | +0.05% | — | |
| 46 | CMCSA | Comcast Corp-class A | 股票-通訊服務 | 0.36% | +0.06% | -62.87% | |
| 47 | UNP | Union Pacific CORP | 股票-工業 | 0.32% | -0.20% | -57.48% | |
| 48 | AMT | American Tower CORP | 股票-房地產 | 0.30% | +0.24% | — | |
| 49 | DLR | Digital Realty Trust Inc | 股票-房地產 | 0.26% | +0.18% | +26.19% | |
| 50 | VRT | Vertiv Holdings Co-a | 股票-工業 | 0.23% | -0.04% | -46.23% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | LNT | Alliant Energy CORP | +1.3% | +71.84% | 加碼 |
| 2 | NEE | Nextera Energy Inc | +1.1% | +123.93% | 加碼 |
| 3 | CEG | Constellation Energy | +1.1% | +11.68% | 加碼 |
| 4 | SRE | Sempra | +0.8% | +34.12% | 加碼 |
| 5 | NRG | Nrg Energy Inc | +0.7% | +93.46% | 加碼 |
| 6 | GEV | GE Vernova Inc | +0.7% | +389.35% | 加碼 |
| 7 | GLW | Corning Inc | +0.4% | +50.45% | 加碼 |
| 8 | OGE | Oge Energy CORP | +0.4% | +45.55% | 加碼 |
| 9 | WEC | Wec Energy Group Inc | +0.2% | +59.96% | 加碼 |
| 10 | DTM | Dt Midstream Inc | +0.2% | +9.37% | 加碼 |
| 11 | ETR | Entergy CORP | +0.2% | +6.91% | 加碼 |
| 12 | CCJ | Cameco CORP | +0.2% | -0.12% | 減碼 |
| 13 | CNP | Centerpoint Energy Inc | +0.2% | +6.18% | 加碼 |
| 14 | MPC | Marathon Petroleum CORP | +0.1% | +67.00% | 加碼 |
| 15 | WMB | Williams Cos Inc | +0.1% | +18.84% | 加碼 |
| 16 | NI | Nisource Inc | +0.1% | +8.29% | 加碼 |
| 17 | AEE | Ameren Corporation | +0.1% | +12.52% | 加碼 |
| 18 | DY | Dycom Industries Inc | +0.1% | -0.15% | 減碼 |
| 19 | EQT | Eqt CORP | +0.1% | +12.90% | 加碼 |
| 20 | XEL | Xcel Energy Inc | +0.1% | +13.14% | 加碼 |
| 21 | EQIX | Equinix Inc | +0.1% | +6.52% | 加碼 |
| 22 | TMUS | T-mobile US Inc | -0.1% | -0.73% | 減碼 |
| 23 | LIN | Linde plc | -0.2% | -79.51% | 減碼 |
| 24 | PPL | Ppl CORP | -0.2% | +2.04% | 加碼 |
| 25 | OKE | Oneok Inc | -0.2% | -20.95% | 減碼 |
| 26 | SBAC | Sba Communications CORP | -0.2% | -10.91% | 減碼 |
| 27 | VRT | Vertiv Holdings Co-a | -0.2% | -46.23% | 減碼 |
| 28 | CCOI | Cogent Communications Holdin | -0.2% | -38.76% | 減碼 |
| 29 | DUK | Duke Energy CORP | -0.2% | -91.79% | 減碼 |
| 30 | PNW | Pinnacle West Capital | -0.2% | -4.67% | 減碼 |
| 31 | NSC | Norfolk Southern CORP | -0.2% | -19.98% | 減碼 |
| 32 | CMS | Cms Energy CORP | -0.3% | -2.87% | 減碼 |
| 33 | ATO | Atmos Energy CORP | -0.3% | -84.14% | 減碼 |
| 34 | LEU | Centrus Energy Corp-class A | -0.4% | -16.42% | 減碼 |
| 35 | UNP | Union Pacific CORP | -0.5% | -57.48% | 減碼 |
| 36 | VST | Vistra CORP | -0.5% | +14.53% | 加碼 |
| 37 | DTE | Dte Energy Company | -0.5% | -28.83% | 減碼 |
| 38 | CMCSA | Comcast Corp-class A | -0.7% | -62.87% | 減碼 |
| 39 | AWK | American Water Works Co Inc | -0.7% | -97.81% | 減碼 |
| 40 | TLN | Talen Energy CORP | -0.7% | +7.88% | 加碼 |
| 41 | CHTR | Charter Communications Inc-a | -0.8% | -85.67% | 減碼 |
| 42 | MP | Mp Materials CORP | -0.8% | +0.76% | 加碼 |
| 43 | PEG | Public Service Enterprise Gp | -2% | -70.47% | 減碼 |
| 44 | ✓ | — | NEW | 新建倉 | |
| 45 | ✓ | Rice Acquisition CORP 3 | — | NEW | 新建倉 |
| 46 | ✓ | NATIONAL FUEL GAS - Restricted | — | NEW | 新建倉 |
| 47 | TIC | Tic Solutions Inc | — | NEW | 新建倉 |
| 48 | LITE | Lumentum Holdings Inc | — | NEW | 新建倉 |
| 49 | CSX | Csx CORP | — | EXIT | 清倉 |
| 50 | T | At&t Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Reaves W H & Co Inc 在 Q4 2025 季度的美股持倉總市值約為 US$65.9億，共申報了 87 個公開持股部位。
在 Q4 2025 季度，Reaves W H & Co Inc 按市值排列的前三大核心持股分別為：TLN (10.0%)、CEG (7.0%)、VST (6.2%)。其中最大持股部位 TLN 佔據整體投資組合約 10.0% 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
市值: US$2750.0萬
本季最大獲利了結 / 清倉標的
CSX
前期市值: US$532.7萬
在 Q4 2025 季度中，Reaves W H & Co Inc 共進行了 50 項持倉異動，包含新建倉 5 個部位、加碼 23 個部位、減碼 20 個部位以及清倉 2 個部位。 其中最大新建倉標的為 。 本季清倉部位包含 CSX。
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。