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: 0001510481
申報總市值
US$85.4億
US$85.4億
77 檔
37.8%
在 Q4 2025 申報期間，Sarasin & Partners LLP（CIK: 0001510481）向美國 SEC 提交的 Form 13F 報告顯示，其追蹤之股票投資組合總市值達 US$85.4億，共持有 77 個公開申報部位。
從 Q4 2025 申報觀察，Sarasin & Partners LLP 採取防禦導向的調倉策略，本季減碼 31 檔個股並出清 1 檔部位，顯示機構在該時期進行風險控制與流動性回收。
從部位權重觀察，前 5 大標的（包含 MSFT, NVDA, GOOGL）累計市值佔比達 37.8%，是驅動 Sarasin & Partners LLP 該季度整體投資組合績效表現的核心支柱。
本季最大新建倉標的
TXN
市值: US$2974.6萬
本季最大獲利了結 / 清倉標的
PSA
前期市值: US$289.7萬
| # | 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 | 8.74% | -0.44% | -12.32% | |
| 2 | NVDA | Nvidia CORP | 股票-科技 | 8.64% | +0.26% | -2.01% | |
| 3 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 6.45% | +1.40% | -10.51% | |
| 4 | AMZN | Amazon.com Inc | 股票-循環性消費 | 5.44% | +0.44% | -11.47% | |
| 5 | MA | Mastercard Inc - A | 股票-金融 | 4.26% | -0.06% | -1.31% | |
| 6 | AAPL | Apple Inc | 股票-科技 | 3.79% | +0.56% | -7.47% | |
| 7 | CL | Colgate-palmolive Co | 股票-非循環性消費 | 3.57% | -0.60% | +3.36% | |
| 8 | JPM | Jpmorgan Chase & Co | 股票-金融 | 3.40% | -0.95% | -1.66% | |
| 9 | EMR | Emerson Electric Co | 股票-工業 | 3.10% | +0.16% | +3.01% | |
| 10 | CME | Cme Group Inc | 股票-金融 | 3.10% | +0.05% | -2.87% | |
| 11 | AVGO | Broadcom Inc | 股票-科技 | 2.99% | +1.05% | +16.71% | |
| 12 | BLK | Blackrock Inc | 股票-金融 | 2.80% | -0.12% | +10.63% | |
| 13 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 2.51% | -0.20% | -40.21% | |
| 14 | HD | Home Depot Inc | 股票-循環性消費 | 2.47% | +0.19% | -1.84% | |
| 15 | NFLX | Netflix Inc | 股票-通訊服務 | 2.30% | -0.61% | +2758.08% | |
| 16 | OTIS | Otis Worldwide CORP | 股票-工業 | 2.30% | -0.48% | -29.81% | |
| 17 | FTNT | Fortinet Inc | 股票-科技 | 2.29% | -1.42% | -4.01% | |
| 18 | AMGN | Amgen Inc | 股票-醫療保健 | 2.23% | -1.40% | -0.68% | |
| 19 | MCO | Moody's CORP | 股票-金融 | 2.19% | -0.76% | -3.40% | |
| 20 | NOW | Servicenow Inc | 股票-科技 | 1.96% | -0.15% | +386.23% | |
| 21 | MRSH | Marsh & Mclennan Cos | 股票-金融 | 1.80% | -0.55% | +0.89% | |
| 22 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 1.77% | -0.09% | -15.80% | |
| 23 | UBER | Uber Technologies Inc | 股票-工業 | 1.71% | +0.01% | +38.39% | |
| 24 | AMT | American Tower CORP | 股票-房地產 | 1.64% | -0.19% | +4.23% | |
| 25 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.59% | +0.07% | -1.44% | |
| 26 | KMB | Kimberly-clark CORP | 股票-非循環性消費 | 1.51% | -0.71% | -29.42% | |
| 27 | MELI | Mercadolibre Inc | 股票-循環性消費 | 1.51% | -0.06% | -1.41% | |
| 28 | DE | Deere & Co | 股票-工業 | 1.49% | +0.05% | -20.40% | |
| 29 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.47% | +0.19% | -6.31% | |
| 30 | ZTS | Zoetis Inc | 股票-醫療保健 | 1.40% | -0.01% | -35.12% | |
| 31 | CSCO | Cisco Systems Inc | 股票-科技 | 1.24% | -0.18% | -9.45% | |
| 32 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.00% | -0.04% | -3.45% | |
| 33 | PLD | Prologis Inc | 股票-房地產 | 0.97% | -0.01% | -1.22% | |
| 34 | AOS | Smith (a.o.) CORP | 股票-工業 | 0.92% | -0.15% | -5.38% | |
| 35 | CMG | Chipotle Mexican Grill Inc | 股票-循環性消費 | 0.81% | -0.01% | -17.47% | |
| 36 | ROST | Ross Stores Inc | 股票-循環性消費 | 0.77% | -0.19% | -10.42% | |
| 37 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.75% | — | +57.33% | |
| 38 | PFE | Pfizer Inc | 股票-醫療保健 | 0.37% | -0.22% | -0.29% | |
| 39 | TXN | Texas Instruments Inc | 股票-科技 | 0.31% | -0.10% | — | |
| 40 | SNA | Snap-on Inc | 股票-工業 | 0.26% | +0.02% | +0.02% | |
| 41 | NTAP | Netapp Inc | 股票-科技 | 0.25% | -0.01% | — | |
| 42 | GLD | Spdr Gold Shares | ETF-避險與商品 | 0.21% | -0.04% | -15.11% | |
| 43 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.19% | +0.03% | -10.89% | |
| 44 | ECL | Ecolab Inc | 股票-原物料 | 0.15% | +0.13% | -9.62% | |
| 45 | TTEK | Tetra Tech Inc | 股票-工業 | 0.14% | — | +0.33% | |
| 46 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 0.13% | +0.01% | +53.60% | |
| 47 | VT | Vanguard Tot World Stk ETF | ETF-其他 | 0.11% | +0.07% | +77.92% | |
| 48 | VGK | Vanguard Ftse Europe ETF | ETF-其他 | 0.09% | — | +173.20% | |
| 49 | WY | Weyerhaeuser Co | 股票-房地產 | 0.09% | — | -19.28% | |
| 50 | EVR | Evercore Inc - A | 股票-金融 | 0.09% | +0.01% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | NFLX | Netflix Inc | +1.3% | +2758.08% | 加碼 |
| 2 | GOOGL | Alphabet Inc-cl A | +1.1% | -10.51% | 減碼 |
| 3 | AVGO | Broadcom Inc | +0.7% | +16.71% | 加碼 |
| 4 | NVDA | Nvidia CORP | +0.5% | -2.01% | 減碼 |
| 5 | LLY | Eli Lilly & Co | +0.5% | -6.31% | 減碼 |
| 6 | AMGN | Amgen Inc | +0.5% | -0.68% | 減碼 |
| 7 | TMO | Thermo Fisher Scientific Inc | +0.4% | -1.44% | 減碼 |
| 8 | EMR | Emerson Electric Co | +0.3% | +3.01% | 加碼 |
| 9 | UBER | Uber Technologies Inc | +0.3% | +38.39% | 加碼 |
| 10 | UNH | Unitedhealth Group Inc | +0.3% | +57.33% | 加碼 |
| 11 | MRK | Merck & Co. Inc. | +0.3% | -3.45% | 減碼 |
| 12 | CL | Colgate-palmolive Co | +0.3% | +3.36% | 加碼 |
| 13 | MA | Mastercard Inc - A | +0.2% | -1.31% | 減碼 |
| 14 | MCO | Moody's CORP | +0.2% | -3.40% | 減碼 |
| 15 | AAPL | Apple Inc | +0.2% | -7.47% | 減碼 |
| 16 | BLK | Blackrock Inc | +0.2% | +10.63% | 加碼 |
| 17 | PLD | Prologis Inc | +0.1% | -1.22% | 減碼 |
| 18 | CSCO | Cisco Systems Inc | +0.1% | -9.45% | 減碼 |
| 19 | CME | Cme Group Inc | +0.1% | -2.87% | 減碼 |
| 20 | ROST | Ross Stores Inc | +0.1% | -10.42% | 減碼 |
| 21 | VGK | Vanguard Ftse Europe ETF | +0.1% | +173.20% | 加碼 |
| 22 | VT | Vanguard Tot World Stk ETF | +0.1% | +77.92% | 加碼 |
| 23 | VWO | Vanguard Ftse Emerging Marke | +0.1% | +53.60% | 加碼 |
| 24 | GOOG | Alphabet Inc-cl C | 0% | -10.89% | 減碼 |
| 25 | AMT | American Tower CORP | 0% | +4.23% | 加碼 |
| 26 | ECL | Ecolab Inc | 0% | -9.62% | 減碼 |
| 27 | MRSH | Marsh & Mclennan Cos | 0% | +0.89% | 加碼 |
| 28 | WY | Weyerhaeuser Co | 0% | -19.28% | 減碼 |
| 29 | ELF | Elf Beauty Inc | 0% | +21.78% | 加碼 |
| 30 | PWR | Quanta Services Inc | 0% | -19.69% | 減碼 |
| 31 | AOS | Smith (a.o.) CORP | -0.1% | -5.38% | 減碼 |
| 32 | FTNT | Fortinet Inc | -0.1% | -4.01% | 減碼 |
| 33 | AMZN | Amazon.com Inc | -0.2% | -11.47% | 減碼 |
| 34 | CMG | Chipotle Mexican Grill Inc | -0.2% | -17.47% | 減碼 |
| 35 | GGG | Graco Inc | -0.2% | -92.47% | 減碼 |
| 36 | MELI | Mercadolibre Inc | -0.3% | -1.41% | 減碼 |
| 37 | DE | Deere & Co | -0.3% | -20.40% | 減碼 |
| 38 | COST | Costco Wholesale CORP | -0.3% | -15.80% | 減碼 |
| 39 | HD | Home Depot Inc | -0.4% | -1.84% | 減碼 |
| 40 | NOW | Servicenow Inc | -0.4% | +386.23% | 加碼 |
| 41 | ZTS | Zoetis Inc | -0.9% | -35.12% | 減碼 |
| 42 | OTIS | Otis Worldwide CORP | -0.9% | -29.81% | 減碼 |
| 43 | KMB | Kimberly-clark CORP | -1% | -29.42% | 減碼 |
| 44 | MSFT | Microsoft CORP | -1.3% | -12.32% | 減碼 |
| 45 | META | Meta Platforms Inc-class A | -2% | -40.21% | 減碼 |
| 46 | TXN | Texas Instruments Inc | — | NEW | 新建倉 |
| 47 | NTAP | Netapp Inc | — | NEW | 新建倉 |
| 48 | PSA | Public Storage | — | EXIT | 清倉 |
| 49 | AME | Ametek Inc | — | NEW | 新建倉 |
| 50 | ACWI | Ishares Msci Acwi ETF | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Sarasin & Partners LLP 在 Q4 2025 季度的美股持倉總市值約為 US$85.4億，共申報了 77 個公開持股部位。
在 Q4 2025 季度，Sarasin & Partners LLP 按市值排列的前三大核心持股分別為：MSFT (8.7%)、NVDA (8.6%)、GOOGL (6.5%)。其中最大持股部位 MSFT 佔據整體投資組合約 8.7% 的權重。
在 Q4 2025 季度中，Sarasin & Partners LLP 共進行了 50 項持倉異動，包含新建倉 4 個部位、加碼 14 個部位、減碼 31 個部位以及清倉 1 個部位。 其中最大新建倉標的為 TXN。 本季清倉部位包含 PSA。
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。
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。
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。