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: 0000869367
申報總市值
US$19.1億
US$19.1億
80 檔
25.3%
Q3 2025 季度申報顯示，Roffman Miller Associates Inc /pa/ 揭露的美股組合總市值為 US$19.1億，涵蓋 80 個不同之權益投資部位。
在 Q3 2025，Roffman Miller Associates Inc /pa/ 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 22 個既有持股進行加碼（合計增持 28 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 MSFT, AAPL, GOOGL）占據了總市值的 25.3%，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 | 7.22% | -0.42% | -1.17% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 6.44% | +0.35% | -1.23% | |
| 3 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 5.63% | +0.66% | -2.06% | |
| 4 | JPM | Jpmorgan Chase & Co | 股票-金融 | 4.43% | -0.04% | -2.46% | |
| 5 | APH | Amphenol Corp-cl A | 股票-科技 | 3.41% | +0.81% | -3.89% | |
| 6 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.37% | +0.18% | +0.26% | |
| 7 | HD | Home Depot Inc | 股票-循環性消費 | 3.14% | -0.07% | +0.43% | |
| 8 | AXP | American Express Co | 股票-金融 | 3.11% | +0.01% | -1.82% | |
| 9 | ADP | Automatic Data Processing | 股票-科技 | 2.87% | -0.05% | -0.13% | |
| 10 | JNJ | Johnson & Johnson | 股票-醫療保健 | 2.78% | -0.21% | +0.48% | |
| 11 | SYK | Stryker CORP | 股票-醫療保健 | 2.68% | -0.30% | -0.13% | |
| 12 | MCD | Mcdonald's CORP | 股票-循環性消費 | 2.64% | -0.57% | -0.16% | |
| 13 | RPM | Rpm International Inc | 股票-原物料 | 2.59% | +0.01% | -0.37% | |
| 14 | TXN | Texas Instruments Inc | 股票-科技 | 2.51% | +0.85% | -0.84% | |
| 15 | V | Visa Inc-class A Shares | 股票-金融 | 2.41% | +0.04% | +0.07% | |
| 16 | AFL | Aflac Inc | 股票-金融 | 2.37% | -0.13% | +0.09% | |
| 17 | CB | Chubb Limited | 股票-金融 | 2.15% | -0.14% | +1.10% | |
| 18 | PEP | Pepsico Inc | 股票-非循環性消費 | 2.05% | -0.50% | +0.53% | |
| 19 | HON | Honeywell International Inc | 股票-工業 | 2.00% | -2.09% | EXIT | |
| 20 | NDSN | Nordson CORP | 股票-工業 | 1.95% | +0.03% | -0.63% | |
| 21 | ASML | ASML Holding N.V. | 股票-科技 | 1.72% | +0.73% | +1.12% | |
| 22 | GD | General Dynamics CORP | 股票-工業 | 1.63% | -0.09% | +2.61% | |
| 23 | AME | Ametek Inc | 股票-工業 | 1.51% | +0.06% | -0.43% | |
| 24 | DIS | Walt Disney Co/the | 股票-通訊服務 | 1.50% | -0.15% | -0.33% | |
| 25 | MKC | Mccormick & Co-non Vtg Shrs | 股票-非循環性消費 | 1.40% | -0.16% | -1.34% | |
| 26 | CHD | Church & Dwight Co Inc | 股票-非循環性消費 | 1.39% | -0.10% | -0.31% | |
| 27 | TJX | Tjx Companies Inc | 股票-循環性消費 | 1.38% | -0.19% | -1.80% | |
| 28 | ICE | Intercontinental Exchange In | 股票-金融 | 1.19% | -0.36% | +3.36% | |
| 29 | EXPO | Exponent Inc | 股票-工業 | 1.18% | -0.23% | -3.11% | |
| 30 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 1.14% | -0.17% | +8.81% | |
| 31 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.09% | -0.06% | +2.63% | |
| 32 | CI | THE Cigna Group | 股票-醫療保健 | 1.07% | -0.07% | +1.13% | |
| 33 | XOM | Exxon Mobil CORP | 股票-能源 | 1.06% | -1.69% | EXIT | |
| 34 | CRM | Salesforce Inc | 股票-科技 | 1.05% | -0.25% | +3.18% | |
| 35 | ACN | Accenture plc | 股票-科技 | 1.01% | -0.37% | -3.35% | |
| 36 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.00% | -0.05% | +3.21% | |
| 37 | VZ | Verizon Communications Inc | 股票-通訊服務 | 0.98% | -0.27% | +1.02% | |
| 38 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.95% | -0.04% | -32.98% | |
| 39 | APD | Air Products & Chemicals Inc | 股票-原物料 | 0.91% | -0.09% | -1.39% | |
| 40 | ADBE | Adobe Inc | 股票-科技 | 0.88% | -0.13% | -3.66% | |
| 41 | NVDA | Nvidia CORP | 股票-科技 | 0.87% | +0.09% | — | |
| 42 | BAC | Bank Of America CORP | 股票-金融 | 0.82% | -0.01% | -47.86% | |
| 43 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 0.80% | -0.02% | — | |
| 44 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.71% | +0.40% | — | |
| 45 | PPL | Ppl CORP | 股票-公用事業 | 0.67% | -0.09% | +8.11% | |
| 46 | UGI | Ugi CORP | 股票-公用事業 | 0.51% | -0.04% | +11.68% | |
| 47 | ORCL | Oracle CORP | 股票-科技 | 0.48% | -0.03% | -3.33% | |
| 48 | DEO | Diageo Plc-sponsored Adr | 股票-非循環性消費 | 0.42% | -0.05% | -15.08% | |
| 49 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 0.40% | +0.22% | — | |
| 50 | BA | Boeing Co/the | 股票-工業 | 0.39% | +0.02% | -8.61% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +1.6% | -2.06% | 減碼 |
| 2 | APH | Amphenol Corp-cl A | +1.3% | -3.89% | 減碼 |
| 3 | MSFT | Microsoft CORP | +1.2% | -1.17% | 減碼 |
| 4 | ASML | ASML Holding N.V. | +0.4% | +1.12% | 加碼 |
| 5 | JPM | Jpmorgan Chase & Co | +0.4% | -2.46% | 減碼 |
| 6 | GD | General Dynamics CORP | +0.3% | +2.61% | 加碼 |
| 7 | AXP | American Express Co | +0.2% | -1.82% | 減碼 |
| 8 | AMZN | Amazon.com Inc | +0.2% | +0.26% | 加碼 |
| 9 | ORCL | Oracle CORP | +0.1% | -3.33% | 減碼 |
| 10 | XOM | Exxon Mobil CORP | +0.1% | +8.01% | 加碼 |
| 11 | GOOG | Alphabet Inc-cl C | +0.1% | -4.84% | 減碼 |
| 12 | TJX | Tjx Companies Inc | +0.1% | -1.80% | 減碼 |
| 13 | PPL | Ppl CORP | +0.1% | +8.11% | 加碼 |
| 14 | UGI | Ugi CORP | +0.1% | +11.68% | 加碼 |
| 15 | DIS | Walt Disney Co/the | +0.1% | -0.33% | 加碼 |
| 16 | META | Meta Platforms Inc-class A | 0% | +2.02% | 加碼 |
| 17 | JNJ | Johnson & Johnson | 0% | +0.48% | 加碼 |
| 18 | VONG | Vanguard Russell 1000 Growth | 0% | +0.11% | 加碼 |
| 19 | ARTNA | Artesian Resources Corp-cl A | 0% | +9.99% | 加碼 |
| 20 | NDSN | Nordson CORP | 0% | -0.63% | 加碼 |
| 21 | HD | Home Depot Inc | — | +0.43% | 加碼 |
| 22 | AME | Ametek Inc | — | -0.43% | 加碼 |
| 23 | COST | Costco Wholesale CORP | 0% | +8.81% | 加碼 |
| 24 | ICE | Intercontinental Exchange In | -0.1% | +3.36% | 加碼 |
| 25 | ALB | Albemarle CORP | -0.1% | -25.49% | 減碼 |
| 26 | DHR | Danaher CORP | -0.1% | -5.48% | 減碼 |
| 27 | STZ | Constellation Brands Inc-a | -0.2% | -26.29% | 減碼 |
| 28 | ADBE | Adobe Inc | -0.2% | -3.66% | 加碼 |
| 29 | CI | THE Cigna Group | -0.2% | +1.13% | 加碼 |
| 30 | DEO | Diageo Plc-sponsored Adr | -0.2% | -15.08% | 減碼 |
| 31 | RPM | Rpm International Inc | -0.2% | -0.37% | 加碼 |
| 32 | APD | Air Products & Chemicals Inc | -0.3% | -1.39% | 減碼 |
| 33 | AAPL | Apple Inc | -0.3% | -1.23% | 減碼 |
| 34 | HON | Honeywell International Inc | -0.3% | -1.23% | 減碼 |
| 35 | CB | Chubb Limited | -0.4% | +1.10% | 加碼 |
| 36 | V | Visa Inc-class A Shares | -0.4% | +0.07% | 減碼 |
| 37 | EXPO | Exponent Inc | -0.4% | -3.11% | 減碼 |
| 38 | MCD | Mcdonald's CORP | -0.4% | -0.16% | 減碼 |
| 39 | ACN | Accenture plc | -0.4% | -3.35% | 減碼 |
| 40 | ADP | Automatic Data Processing | -0.5% | -0.13% | 加碼 |
| 41 | CHD | Church & Dwight Co Inc | -0.5% | -0.31% | 加碼 |
| 42 | MKC | Mccormick & Co-non Vtg Shrs | -0.6% | -1.34% | 減碼 |
| 43 | JNJ | Johnson & Johnson | -0.7% | -32.98% | 減碼 |
| 44 | BAC | Bank Of America CORP | -0.9% | -47.86% | 減碼 |
| 45 | NVDA | Nvidia CORP | — | NEW | 新建倉 |
| 46 | BRK-B | Berkshire Hathaway Inc-cl B | — | NEW | 新建倉 |
| 47 | LLY | Eli Lilly & Co | — | NEW | 新建倉 |
| 48 | TSM | Taiwan Semiconductor-sp Adr | — | NEW | 新建倉 |
| 49 | O | Realty Income CORP | — | NEW | 新建倉 |
| 50 | FMC | Fmc CORP | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Roffman Miller Associates Inc /pa/ 在 Q3 2025 季度的美股持倉總市值約為 US$19.1億，共申報了 80 個公開持股部位。
在 Q3 2025 季度，Roffman Miller Associates Inc /pa/ 按市值排列的前三大核心持股分別為：MSFT (7.2%)、AAPL (6.4%)、GOOGL (5.6%)。其中最大持股部位 MSFT 佔據整體投資組合約 7.2% 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
NVDA
市值: US$1556.3萬
本季最大獲利了結 / 清倉標的
AAPL
前期市值: US$1.1億
在 Q3 2025 季度中，Roffman Miller Associates Inc /pa/ 共進行了 50 項持倉異動，包含新建倉 6 個部位、加碼 22 個部位、減碼 22 個部位以及清倉 0 個部位。 其中最大新建倉標的為 NVDA。
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。