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: 0001538846
申報總市值
US$58.4億
US$58.4億
606 檔
25.5%
在 Q4 2025 申報期間，South Dakota Investment Council（CIK: 0001538846）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$58.4億，共持有 606 個公開申報部位。
在 Q4 2025 期間，South Dakota Investment Council 展現了靈活的資產再平衡步調，透過出清 2 檔弱勢或達到目標價部位，將資金轉置於 4 檔新建倉標的之中。
在資產配置集中度方面，South Dakota Investment Council 的前 5 大核心持股（包含 VWO, AGG, MSFT 等）合計佔整體申報市值的 25.5%，反映機構在主要關鍵部位上的權重分佈。
僅顯示前 200 大持股（共 606 檔）
| # | 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 | VWO | Vanguard Ftse Emerging Marke | ETF-新興市場 | 10.98% | -0.40% | -9.41% | |
| 2 | AGG | Ishares Core U.s. Aggregate | ETF-其他 | 5.36% | -0.33% | +1.31% | |
| 3 | MSFT | Microsoft CORP | 股票-科技 | 4.15% | -0.33% | -4.29% | |
| 4 | NVDA | Nvidia CORP | 股票-科技 | 3.99% | +0.49% | +8.52% | |
| 5 | AAPL | Apple Inc | 股票-科技 | 3.90% | +0.06% | -5.30% | |
| 6 | VCSH | Vanguard S/t CORP Bond ETF | ETF-投資等級公司債 | 2.49% | +0.49% | — | |
| 7 | AMZN | Amazon.com Inc | 股票-循環性消費 | 2.43% | +0.01% | -0.44% | |
| 8 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.09% | +0.08% | -12.72% | |
| 9 | VTOL | Bristow Group Inc | 股票-其他 | 1.93% | -0.62% | -13.24% | |
| 10 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 1.61% | +0.12% | -12.91% | |
| 11 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.46% | -0.10% | +2.32% | |
| 12 | USHY | Ishares Broad Usd High Yield | ETF-非投資等級債 | 1.37% | -0.11% | — | |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 1.05% | -0.08% | -5.59% | |
| 14 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 1.02% | -0.23% | -17.04% | |
| 15 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.98% | +0.06% | -15.27% | |
| 16 | HUM | Humana Inc | 股票-醫療保健 | 0.79% | -0.22% | +8.43% | |
| 17 | ELV | Elevance Health Inc | 股票-醫療保健 | 0.75% | -0.01% | -2.61% | |
| 18 | USB | US Bancorp | 股票-金融 | 0.74% | +0.01% | +8.21% | |
| 19 | AVGO | Broadcom Inc | 股票-科技 | 0.70% | +0.27% | +4.58% | |
| 20 | V | Visa Inc-class A Shares | 股票-金融 | 0.65% | — | -4.46% | |
| 21 | BBWI | Bath & Body Works Inc | 股票-循環性消費 | 0.64% | +0.12% | +110.92% | |
| 22 | COP | Conocophillips | 股票-能源 | 0.61% | -0.18% | +14.07% | |
| 23 | EG | Everest Group, Ltd. | 股票-金融 | 0.61% | -0.01% | +0.29% | |
| 24 | PFE | Pfizer Inc | 股票-醫療保健 | 0.57% | -0.16% | -5.90% | |
| 25 | CMCSA | Comcast Corp-class A | 股票-通訊服務 | 0.53% | -0.07% | +5.08% | |
| 26 | MA | Mastercard Inc - A | 股票-金融 | 0.51% | -0.04% | -5.33% | |
| 27 | UPS | United Parcel Service-cl B | 股票-工業 | 0.51% | +0.01% | +0.07% | |
| 28 | RGA | Reinsurance Group Of America | 股票-金融 | 0.48% | — | -9.38% | |
| 29 | XOM | Exxon Mobil CORP | 股票-能源 | 0.46% | -0.49% | EXIT | |
| 30 | CNC | Centene CORP | 股票-醫療保健 | 0.46% | -0.10% | +9.20% | |
| 31 | AMD | Advanced Micro Devices | 股票-科技 | 0.46% | +0.57% | -22.04% | |
| 32 | AMAT | Applied Materials Inc | 股票-科技 | 0.46% | +0.33% | -16.23% | |
| 33 | WFC | Wells Fargo & Co | 股票-金融 | 0.45% | +0.06% | -3.25% | |
| 34 | TXN | Texas Instruments Inc | 股票-科技 | 0.44% | +0.09% | +38.53% | |
| 35 | TGT | Target CORP | 股票-循環性消費 | 0.41% | -0.25% | -0.49% | |
| 36 | SLB | Slb LTD | 股票-能源 | 0.41% | -0.13% | -1.53% | |
| 37 | ACGL | Arch Capital Group Ltd. | 股票-金融 | 0.41% | -0.04% | -3.17% | |
| 38 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.41% | -0.04% | -2.55% | |
| 39 | C | Citigroup Inc | 股票-金融 | 0.40% | -0.02% | -11.94% | |
| 40 | TSLA | Tesla Inc | 股票-循環性消費 | 0.40% | — | -5.75% | |
| 41 | EOG | Eog Resources Inc | 股票-能源 | 0.39% | -0.12% | +25.94% | |
| 42 | IQV | Iqvia Holdings Inc | 股票-醫療保健 | 0.39% | +0.05% | -5.86% | |
| 43 | ALK | Alaska Air Group Inc | 股票-工業 | 0.39% | +0.10% | +21.78% | |
| 44 | STZ | Constellation Brands Inc-a | 股票-非循環性消費 | 0.39% | -0.07% | +14.57% | |
| 45 | APA | Apa CORP | 股票-能源 | 0.38% | -0.16% | -3.64% | |
| 46 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.38% | -0.03% | -18.21% | |
| 47 | HAL | Halliburton Co | 股票-能源 | 0.37% | -0.11% | -10.13% | |
| 48 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.36% | -0.03% | -3.77% | |
| 49 | PYPL | Paypal Holdings Inc | 股票-金融 | 0.36% | -0.04% | -4.10% | |
| 50 | BMY | Bristol-myers Squibb Co | 股票-醫療保健 | 0.36% | -0.04% | -14.87% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ZTS | Zoetis Inc | +0.3% | +1055.49% | 加碼 |
| 2 | BBWI | Bath & Body Works Inc | +0.2% | +110.92% | 加碼 |
| 3 | NVDA | Nvidia CORP | +0.2% | +8.52% | 加碼 |
| 4 | SW | Smurfit Westrock Plc | +0.2% | +399.37% | 加碼 |
| 5 | GOOGL | Alphabet Inc-cl A | +0.2% | -12.72% | 減碼 |
| 6 | MOH | Molina Healthcare Inc | +0.2% | +110.25% | 加碼 |
| 7 | GOOG | Alphabet Inc-cl C | +0.2% | -12.91% | 減碼 |
| 8 | LLY | Eli Lilly & Co | +0.1% | -15.27% | 減碼 |
| 9 | HON | Honeywell International Inc | +0.1% | +165.55% | 加碼 |
| 10 | CLX | Clorox Company | +0.1% | +881.15% | 加碼 |
| 11 | USB | US Bancorp | +0.1% | +8.21% | 加碼 |
| 12 | CL | Colgate-palmolive Co | +0.1% | +213.96% | 加碼 |
| 13 | PG | Procter & Gamble Co/the | +0.1% | +95.19% | 加碼 |
| 14 | TXN | Texas Instruments Inc | +0.1% | +38.53% | 加碼 |
| 15 | CNC | Centene CORP | +0.1% | +9.20% | 加碼 |
| 16 | ACN | Accenture plc | +0.1% | +32.80% | 加碼 |
| 17 | ZBH | Zimmer Biomet Holdings Inc | +0.1% | +53.71% | 加碼 |
| 18 | ARW | Arrow Electronics Inc | +0.1% | +100.31% | 加碼 |
| 19 | IT | Gartner Inc | +0.1% | +397.20% | 加碼 |
| 20 | UPS | United Parcel Service-cl B | +0.1% | +0.07% | 加碼 |
| 21 | MRK | Merck & Co. Inc. | +0.1% | -2.55% | 減碼 |
| 22 | ALK | Alaska Air Group Inc | +0.1% | +21.78% | 加碼 |
| 23 | KVUE | Kenvue Inc | +0.1% | +90.40% | 加碼 |
| 24 | LBRT | Liberty Energy Inc | +0.1% | -13.94% | 減碼 |
| 25 | AMZN | Amazon.com Inc | +0.1% | -0.44% | 減碼 |
| 26 | CVX | Chevron CORP | -0.1% | -18.05% | 減碼 |
| 27 | CELH | Celsius Holdings Inc | -0.1% | -46.60% | 減碼 |
| 28 | IVZ | Invesco Ltd. | -0.1% | -70.71% | 減碼 |
| 29 | PVH | Pvh CORP | -0.1% | -2.59% | 減碼 |
| 30 | PYPL | Paypal Holdings Inc | -0.1% | -4.10% | 減碼 |
| 31 | FOXA | Fox CORP - Class A | -0.1% | -59.78% | 減碼 |
| 32 | CLF | Cleveland-cliffs Inc | -0.1% | -42.45% | 減碼 |
| 33 | RNR | RenaissanceRe Holdings Ltd. | -0.1% | -33.32% | 減碼 |
| 34 | SHEL | Shell Plc-adr | -0.1% | -44.39% | 減碼 |
| 35 | STT | State Street CORP | -0.1% | -60.12% | 減碼 |
| 36 | JNJ | Johnson & Johnson | -0.1% | -32.67% | 減碼 |
| 37 | DG | Dollar General CORP | -0.1% | -40.11% | 減碼 |
| 38 | OC | Owens Corning | -0.1% | -41.32% | 減碼 |
| 39 | CSCO | Cisco Systems Inc | -0.2% | -43.60% | 減碼 |
| 40 | META | Meta Platforms Inc-class A | -0.2% | +2.32% | 加碼 |
| 41 | UNH | Unitedhealth Group Inc | -0.3% | -17.04% | 減碼 |
| 42 | VTOL | Bristow Group Inc | -0.3% | -13.24% | 減碼 |
| 43 | MSFT | Microsoft CORP | -0.6% | -4.29% | 減碼 |
| 44 | VWO | Vanguard Ftse Emerging Marke | -1.5% | -9.41% | 減碼 |
| 45 | VCSH | Vanguard S/t CORP Bond ETF | — | NEW | 新建倉 |
| 46 | USHY | Ishares Broad Usd High Yield | — | NEW | 新建倉 |
| 47 | 07WA | Mr Cooper Group Inc | — | EXIT | 清倉 |
| 48 | RDN | Radian Group Inc | — | NEW | 新建倉 |
| 49 | RKT | Rocket Cos Inc-class A | — | NEW | 新建倉 |
| 50 | HN9 | Hanesbrands Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，South Dakota Investment Council 在 Q4 2025 季度的美股持倉總市值約為 US$58.4億，共申報了 606 個公開持股部位。
在 Q4 2025 季度，South Dakota Investment Council 按市值排列的前三大核心持股分別為：VWO (11.0%)、AGG (5.4%)、MSFT (4.2%)。其中最大持股部位 VWO 佔據整體投資組合約 11.0% 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
VCSH
市值: US$1.3億
本季最大獲利了結 / 清倉標的
07WA
前期市值: US$1126.5萬
在 Q4 2025 季度中，South Dakota Investment Council 共進行了 50 項持倉異動，包含新建倉 4 個部位、加碼 20 個部位、減碼 24 個部位以及清倉 2 個部位。 其中最大新建倉標的為 VCSH。 本季清倉部位包含 07WA。
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。