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: 0001308685
申報總市值
US$12.8億
US$12.8億
51 檔
30.8%
Stack Financial Management, Inc 在 Q3 2025 季度的美股部位總計估值為 US$12.8億，分散於 51 個持倉標的之中，反映其市場參與廣度與投資規模。
從 Q3 2025 申報觀察，Stack Financial Management, Inc 採取防禦導向的調倉策略，本季減碼 40 檔個股並出清 6 檔部位，顯示機構在該時期進行風險控制與流動性回收。
在資產配置集中度方面，Stack Financial Management, Inc 的前 5 大核心持股（包含 MSFT, WMT, BRK-B 等）合計佔整體申報市值的 30.8%，反映機構在主要關鍵部位上的權重分佈。
| # | 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 | 9.94% | +0.43% | -1.25% | |
| 2 | WMT | Walmart Inc | 股票-非循環性消費 | 8.95% | -0.24% | -0.63% | |
| 3 | BRK-B | Berkshire Hathaway Inc-cl B | 股票-其他 | 4.97% | +0.46% | -0.58% | |
| 4 | PWR | Quanta Services Inc | 股票-工業 | 4.55% | -0.03% | -1.48% | |
| 5 | CRM | Salesforce Inc | 股票-科技 | 4.35% | — | — | |
| 6 | LHX | L3harris Technologies Inc | 股票-工業 | 3.61% | -0.36% | -1.54% | |
| 7 | AEM | Agnico Eagle Mines LTD | 股票-原物料 | 3.55% | -0.96% | -1.34% | |
| 8 | CVX | Chevron CORP | 股票-能源 | 3.49% | -0.67% | -1.42% | |
| 9 | WPM | Wheaton Precious Metals CORP | 股票-原物料 | 3.25% | -0.21% | -0.69% | |
| 10 | AEP | American Electric Power | 股票-公用事業 | 2.69% | +0.30% | -1.27% | |
| 11 | WM | Waste Management Inc | 股票-工業 | 2.67% | +0.06% | -0.60% | |
| 12 | PSX | Phillips 66 | 股票-能源 | 2.48% | -0.08% | -1.13% | |
| 13 | CNP | Centerpoint Energy Inc | 股票-公用事業 | 2.31% | +0.19% | -0.62% | |
| 14 | SYK | Stryker CORP | 股票-醫療保健 | 2.23% | +0.01% | -0.84% | |
| 15 | CBOE | Cboe Global Markets Inc | 股票-金融 | 2.14% | -0.19% | -1.39% | |
| 16 | DUK | Duke Energy CORP | 股票-公用事業 | 1.97% | +0.07% | -0.06% | |
| 17 | NEE | Nextera Energy Inc | 股票-公用事業 | 1.95% | +0.02% | -1.03% | |
| 18 | EOG | Eog Resources Inc | 股票-能源 | 1.86% | -0.14% | -0.47% | |
| 19 | LMT | Lockheed Martin CORP | 股票-工業 | 1.85% | -0.13% | -0.63% | |
| 20 | KO | Coca-cola Co/the | 股票-非循環性消費 | 1.77% | +0.27% | +0.07% | |
| 21 | MDLZ | Mondelez International Inc-a | 股票-非循環性消費 | 1.75% | +0.08% | -1.19% | |
| 22 | CI | THE Cigna Group | 股票-醫療保健 | 1.73% | +0.14% | -0.92% | |
| 23 | LH | Labcorp Holdings Inc | 股票-醫療保健 | 1.73% | +0.16% | -1.46% | |
| 24 | PCAR | Paccar Inc | 股票-工業 | 1.69% | +0.20% | -0.44% | |
| 25 | EMR | Emerson Electric Co | 股票-工業 | 1.68% | +0.23% | -2.00% | |
| 26 | JNJ | Johnson & Johnson | 股票-醫療保健 | 1.67% | +0.24% | -0.68% | |
| 27 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.51% | +0.28% | -0.21% | |
| 28 | COP | Conocophillips | 股票-能源 | 1.46% | -0.30% | +0.38% | |
| 29 | MDT | Medtronic plc | 股票-醫療保健 | 1.41% | -0.02% | -0.15% | |
| 30 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.37% | -0.10% | -0.99% | |
| 31 | CAH | Cardinal Health Inc | 股票-醫療保健 | 1.36% | +0.35% | +0.18% | |
| 32 | NEM | Newmont CORP | 股票-原物料 | 1.36% | -0.52% | EXIT | |
| 33 | AEE | Ameren Corporation | 股票-公用事業 | 1.35% | +0.14% | +0.32% | |
| 34 | DTE | Dte Energy Company | 股票-公用事業 | 1.31% | +0.16% | +0.43% | |
| 35 | DHR | Danaher CORP | 股票-醫療保健 | 1.26% | +0.07% | -0.78% | |
| 36 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 1.22% | +0.10% | +0.42% | |
| 37 | BKR | Baker Hughes Co | 股票-能源 | 1.18% | -0.04% | +0.96% | |
| 38 | DOV | Dover CORP | 股票-工業 | 1.10% | +0.20% | -0.80% | |
| 39 | UNP | Union Pacific CORP | 股票-工業 | 0.98% | +0.19% | +0.36% | |
| 40 | GPC | Genuine Parts Co | 股票-循環性消費 | 0.98% | — | -0.73% | |
| 41 | AMT | American Tower CORP | 股票-房地產 | 0.94% | — | +0.34% | |
| 42 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 0.07% | +0.01% | -2.25% | |
| 43 | GDX | Vaneck Gold Miners ETF | ETF-避險與商品 | 0.07% | -0.04% | -31.72% | |
| 44 | ACN | Accenture plc | 股票-科技 | 0.06% | +0.77% | NEW | |
| 45 | AAPL | Apple Inc | 股票-科技 | 0.04% | +0.02% | -3.82% | |
| 46 | XLI | Ss Industrial Select Sector | ETF-其他 | 0.03% | — | +1.88% | |
| 47 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.03% | — | -4.12% | |
| 48 | XLV | Ss Health Care Select Sector | ETF-其他 | 0.02% | — | +6.09% | |
| 49 | INTC | Intel CORP | 股票-科技 | 0.02% | +0.03% | NEW | |
| 50 | XLE | Ss Energy Select Sector | ETF-其他 | 0.02% | — | +3.03% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +2.5% | -1.25% | 減碼 |
| 2 | PWR | Quanta Services Inc | +1.7% | -1.48% | 減碼 |
| 3 | WMT | Walmart Inc | +1.1% | -0.63% | 減碼 |
| 4 | LHX | L3harris Technologies Inc | +1% | -1.54% | 減碼 |
| 5 | WPM | Wheaton Precious Metals CORP | +0.9% | -0.69% | 減碼 |
| 6 | LH | Labcorp Holdings Inc | +0.3% | -1.46% | 減碼 |
| 7 | EMR | Emerson Electric Co | +0.2% | -2.00% | 減碼 |
| 8 | AEM | Agnico Eagle Mines LTD | +0.2% | -1.34% | 減碼 |
| 9 | PSX | Phillips 66 | +0.2% | -1.13% | 減碼 |
| 10 | NEM | Newmont CORP | +0.2% | -0.51% | 減碼 |
| 11 | CAH | Cardinal Health Inc | +0.1% | +0.18% | 減碼 |
| 12 | LMT | Lockheed Martin CORP | +0.1% | -0.63% | 減碼 |
| 13 | JNJ | Johnson & Johnson | +0.1% | -0.68% | 減碼 |
| 14 | GPC | Genuine Parts Co | +0.1% | -0.73% | 減碼 |
| 15 | BKR | Baker Hughes Co | +0.1% | +0.96% | 減碼 |
| 16 | CNP | Centerpoint Energy Inc | +0.1% | -0.62% | 減碼 |
| 17 | CBOE | Cboe Global Markets Inc | +0.1% | -1.39% | 減碼 |
| 18 | MDT | Medtronic plc | +0.1% | -0.15% | 減碼 |
| 19 | AEE | Ameren Corporation | 0% | +0.32% | 減碼 |
| 20 | DTE | Dte Energy Company | 0% | +0.43% | 減碼 |
| 21 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | -2.25% | 減碼 |
| 22 | JPM | Jpmorgan Chase & Co | 0% | -4.12% | 減碼 |
| 23 | GDX | Vaneck Gold Miners ETF | 0% | -31.72% | 減碼 |
| 24 | UNP | Union Pacific CORP | 0% | +0.36% | 減碼 |
| 25 | PCAR | Paccar Inc | 0% | -0.44% | 減碼 |
| 26 | DHR | Danaher CORP | -0.1% | -0.78% | 減碼 |
| 27 | SYK | Stryker CORP | -0.1% | -0.84% | 減碼 |
| 28 | DOV | Dover CORP | -0.1% | -0.80% | 減碼 |
| 29 | PEP | Pepsico Inc | -0.1% | -0.99% | 減碼 |
| 30 | MRK | Merck & Co. Inc. | -0.1% | -0.21% | 減碼 |
| 31 | PG | Procter & Gamble Co/the | -0.2% | +0.42% | 減碼 |
| 32 | COP | Conocophillips | -0.2% | +0.38% | 減碼 |
| 33 | WM | Waste Management Inc | -0.2% | -0.60% | 減碼 |
| 34 | KO | Coca-cola Co/the | -0.2% | +0.07% | 減碼 |
| 35 | MDLZ | Mondelez International Inc-a | -0.2% | -1.19% | 減碼 |
| 36 | EOG | Eog Resources Inc | -0.3% | -0.47% | 減碼 |
| 37 | CI | THE Cigna Group | -0.3% | -0.92% | 減碼 |
| 38 | CVX | Chevron CORP | -0.4% | -1.42% | 減碼 |
| 39 | BRK-B | Berkshire Hathaway Inc-cl B | -0.4% | -0.58% | 減碼 |
| 40 | ACN | Accenture plc | -3.6% | -97.72% | 減碼 |
| 41 | SH | Proshares Short S&p500 | — | EXIT | 清倉 |
| 42 | CRM | Salesforce Inc | — | NEW | 新建倉 |
| 43 | UNH | Unitedhealth Group Inc | — | EXIT | 清倉 |
| 44 | NEE | Nextera Energy Inc | — | NEW | 新建倉 |
| 45 | IQV | Iqvia Holdings Inc | — | EXIT | 清倉 |
| 46 | AMT | American Tower CORP | — | NEW | 新建倉 |
| 47 | CMCSA | Comcast Corp-class A | — | EXIT | 清倉 |
| 48 | KHC | Kraft Heinz Co/the | — | EXIT | 清倉 |
| 49 | SPYV | Ss Spdr P S&p 500 Value ETF | — | EXIT | 清倉 |
| 50 | INTC | Intel CORP | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Stack Financial Management, Inc 在 Q3 2025 季度的美股持倉總市值約為 US$12.8億，共申報了 51 個公開持股部位。
在 Q3 2025 季度，Stack Financial Management, Inc 按市值排列的前三大核心持股分別為：MSFT (9.9%)、WMT (8.9%)、BRK-B (5.0%)。其中最大持股部位 MSFT 佔據整體投資組合約 9.9% 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
CRM
市值: US$5241.3萬
本季最大獲利了結 / 清倉標的
SH
前期市值: US$5563.6萬
在 Q3 2025 季度中，Stack Financial Management, Inc 共進行了 50 項持倉異動，包含新建倉 4 個部位、加碼 0 個部位、減碼 40 個部位以及清倉 6 個部位。 其中最大新建倉標的為 CRM。 本季清倉部位包含 SH。
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。