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: 0000941519
申報總市值
US$3.9億
US$3.9億
310 檔
45.3%
截至 Q4 2025 季度末，Steph & Co 的美股持倉估值約為 US$3.9億，全數申報部位共有 310 檔。
在 Q4 2025，Steph & Co 展現出較為審慎的避險與獲利了結姿態。本季共減碼 87 個部位並完全清倉 28 檔持股，調降曝險的部位數量高於加碼動作。
整體而言，Steph & Co 的前 5 大持股（包含 JAVA, VOO, JGRO）貢獻了組合市值的 45.3%，形成該機構在 Q4 2025 季度的基本面基石。
僅顯示前 200 大持股（共 310 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 | JAVA | Jpmorgan Active Value ETF | ETF-其他 | 17.00% | -0.93% | +9.37% | |
| 2 | VOO | Vanguard S&p 500 ETF | ETF-大型股與成長 | 13.70% | +0.46% | -0.75% | |
| 3 | JGRO | Jpmorgan Active Growth ETF | ETF-其他 | 13.32% | +0.66% | +4.11% | |
| 4 | IWR | Ishares Russell Mid-cap ETF | ETF-其他 | 3.65% | -0.17% | +1.32% | |
| 5 | BOND | Pimco Active Bond Exchange-t | ETF-其他 | 3.60% | +0.20% | +7.01% | |
| 6 | FBND | Fidelity Total Bond ETF | ETF-其他 | 3.59% | +0.63% | +7.30% | |
| 7 | FENI | Fidelity Enhanced Intl ETF | ETF-其他 | 3.17% | -0.11% | — | |
| 8 | MGC | Vanguard Mega Cap ETF | ETF-其他 | 2.78% | +0.03% | +5.13% | |
| 9 | GUNR | Flexshares Global Upstream N | ETF-其他 | 2.75% | +0.09% | -3.11% | |
| 10 | VB | Vanguard Small-cap ETF | ETF-其他 | 2.56% | -0.24% | -3.05% | |
| 11 | VTI | Vanguard Total Stock Mkt ETF | ETF-其他 | 2.25% | -0.17% | -0.90% | |
| 12 | VO | Vanguard Mid-cap ETF | ETF-其他 | 2.06% | -0.16% | -4.19% | |
| 13 | IVV | Ishares Core S&p 500 ETF | ETF-大型股與成長 | 2.01% | -0.26% | +1.27% | |
| 14 | VEA | Vanguard Ftse Developed ETF | ETF-其他 | 1.97% | -0.03% | +5.13% | |
| 15 | IWM | Ishares Russell 2000 ETF | ETF-中小型股 | 1.51% | -0.17% | +2.31% | |
| 16 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-大型股與成長 | 1.32% | +0.03% | — | |
| 17 | MUNI | Pimco Intermediate Municipal | ETF-其他 | 1.29% | +0.11% | +0.49% | |
| 18 | VOT | Vanguard Mid-cap Growth ETF | ETF-其他 | 1.03% | -0.04% | +1.67% | |
| 19 | NFRA | Flexshares Stoxx Global Broa | ETF-其他 | 1.02% | +0.02% | +0.34% | |
| 20 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-其他 | 0.99% | +0.22% | -0.58% | |
| 21 | MDY | State Street Spdr S&p Midcap | ETF-其他 | 0.93% | -0.20% | -0.56% | |
| 22 | AAPL | Apple Inc | 股票-科技 | 0.87% | +0.14% | -4.28% | |
| 23 | VONG | Vanguard Russell 1000 Growth | ETF-其他 | 0.79% | +0.08% | -4.36% | |
| 24 | EFA | Ishares Msci Eafe ETF | ETF-其他 | 0.64% | +0.03% | -1.87% | |
| 25 | IJR | Ishares Core S&p Small-cap E | ETF-中小型股 | 0.63% | -0.05% | -0.07% | |
| 26 | GNR | State Street Spdr S&p Global | ETF-其他 | 0.63% | +0.05% | -0.80% | |
| 27 | IWD | Ishares Russell 1000 Value E | ETF-其他 | 0.58% | -0.03% | +1.57% | |
| 28 | IWF | Ishares Russell 1000 Growth | ETF-其他 | 0.39% | +0.01% | — | |
| 29 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.37% | +0.01% | -11.81% | |
| 30 | NIC | Nicolet Bankshares Inc | 股票-其他 | 0.32% | — | -5.24% | |
| 31 | WFC | Wells Fargo & Co | 股票-金融 | 0.26% | -0.01% | — | |
| 32 | C | Citigroup Inc | 股票-金融 | 0.26% | -0.07% | -9.29% | |
| 33 | EMXC | Ishares Msci Emr Mrk Ex Chna | ETF-其他 | 0.25% | +0.01% | -5.10% | |
| 34 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.24% | — | -5.72% | |
| 35 | VBK | Vanguard Small-cap Grwth ETF | ETF-其他 | 0.22% | -0.02% | -3.26% | |
| 36 | NVDA | Nvidia CORP | 股票-科技 | 0.22% | +0.04% | +54.23% | |
| 37 | PM | Philip Morris International | 股票-非循環性消費 | 0.22% | +0.02% | -13.49% | |
| 38 | WEC | Wec Energy Group Inc | 股票-公用事業 | 0.21% | -0.04% | — | |
| 39 | CSCO | Cisco Systems Inc | 股票-科技 | 0.21% | -0.03% | -7.94% | |
| 40 | DUK | Duke Energy CORP | 股票-公用事業 | 0.20% | -0.02% | -11.92% | |
| 41 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.20% | — | -33.09% | |
| 42 | USB | US Bancorp | 股票-金融 | 0.20% | — | -12.64% | |
| 43 | XOM | Exxon Mobil CORP | 股票-能源 | 0.20% | -0.19% | EXIT | |
| 44 | MSFT | Microsoft CORP | 股票-科技 | 0.19% | +0.10% | +7.67% | |
| 45 | CVX | Chevron CORP | 股票-能源 | 0.16% | +0.04% | -11.41% | |
| 46 | DGX | Quest Diagnostics Inc | 股票-醫療保健 | 0.16% | — | -12.28% | |
| 47 | PNC | Pnc Financial Services Group | 股票-金融 | 0.16% | -0.01% | -10.58% | |
| 48 | DG | Dollar General CORP | 股票-非循環性消費 | 0.16% | +0.02% | +15.17% | |
| 49 | UNP | Union Pacific CORP | 股票-工業 | 0.15% | — | -11.71% | |
| 50 | EXC | Exelon CORP | 股票-公用事業 | 0.15% | -0.01% | -10.51% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | JAVA | Jpmorgan Active Value ETF | +1.2% | +9.37% | 加碼 |
| 2 | NVDA | Nvidia CORP | +0.1% | +54.23% | 加碼 |
| 3 | VEA | Vanguard Ftse Developed ETF | +0.1% | +5.13% | 加碼 |
| 4 | MGC | Vanguard Mega Cap ETF | +0.1% | +5.13% | 加碼 |
| 5 | UNH | Unitedhealth Group Inc | +0.1% | +101.24% | 加碼 |
| 6 | DG | Dollar General CORP | +0.1% | +15.17% | 加碼 |
| 7 | GOOG | Alphabet Inc-cl C | 0% | +44.26% | 加碼 |
| 8 | BMY | Bristol-myers Squibb Co | 0% | +41.66% | 加碼 |
| 9 | FISV | Fiserv Inc | 0% | +1533.76% | 加碼 |
| 10 | FBND | Fidelity Total Bond ETF | 0% | +7.30% | 加碼 |
| 11 | BOND | Pimco Active Bond Exchange-t | 0% | +7.01% | 加碼 |
| 12 | ALSN | Allison Transmission Holding | 0% | +534.27% | 加碼 |
| 13 | HEI-A | Heico Corp-class A | 0% | +83.75% | 加碼 |
| 14 | MKSI | Mks Inc | 0% | +110.13% | 加碼 |
| 15 | EXEL | Exelixis Inc | 0% | +426.58% | 加碼 |
| 16 | COKE | Coca-cola Consolidated Inc | 0% | +183.16% | 加碼 |
| 17 | ARW | Arrow Electronics Inc | 0% | +121.86% | 加碼 |
| 18 | MAS | Masco CORP | 0% | +206.45% | 加碼 |
| 19 | GTES | Gates Industrial Corporation plc | 0% | +146.85% | 加碼 |
| 20 | BR | Broadridge Financial Solutio | 0% | +176.54% | 加碼 |
| 21 | ARCB | Arcbest CORP | 0% | +21.44% | 加碼 |
| 22 | WAT | Waters CORP | 0% | +51.29% | 加碼 |
| 23 | HEI | Heico CORP | 0% | +70.00% | 加碼 |
| 24 | WTM | White Mountains Insurance Group, Ltd. | 0% | +68.97% | 加碼 |
| 25 | WFC | Wells Fargo & Co | 0% | — | 不變 |
| 26 | ROST | Ross Stores Inc | 0% | +8.97% | 加碼 |
| 27 | OMF | Onemain Holdings Inc | 0% | +53.97% | 加碼 |
| 28 | VVV | Valvoline Inc | 0% | +188.09% | 加碼 |
| 29 | AMD | Advanced Micro Devices | 0% | +34.61% | 加碼 |
| 30 | RIO | Rio Tinto Plc-spon Adr | 0% | -0.25% | 減碼 |
| 31 | RTX | Rtx CORP | 0% | +1.48% | 加碼 |
| 32 | XOM | Exxon Mobil CORP | 0% | +1.32% | 加碼 |
| 33 | GOOGL | Alphabet Inc-cl A | 0% | -5.86% | 減碼 |
| 34 | IT | Gartner Inc | 0% | +61.33% | 加碼 |
| 35 | VMC | Vulcan Materials Co | 0% | +74.47% | 加碼 |
| 36 | MCHP | Microchip Technology Inc | 0% | +26.64% | 加碼 |
| 37 | AMZN | Amazon.com Inc | 0% | +22.68% | 加碼 |
| 38 | DCI | Donaldson Co Inc | 0% | +76.45% | 加碼 |
| 39 | TYL | Tyler Technologies Inc | 0% | +67.68% | 加碼 |
| 40 | CDW | Cdw Corp/de | 0% | +53.33% | 加碼 |
| 41 | COST | Costco Wholesale CORP | 0% | +104.55% | 加碼 |
| 42 | ATR | Aptargroup Inc | 0% | +55.69% | 加碼 |
| 43 | WRB | Wr Berkley CORP | 0% | +32.87% | 加碼 |
| 44 | ADI | Analog Devices Inc | 0% | +182.35% | 加碼 |
| 45 | BA | Boeing Co/the | 0% | +237.31% | 加碼 |
| 46 | KKR | Kkr & Co Inc | 0% | +239.82% | 加碼 |
| 47 | WMT | Walmart Inc | 0% | +1.80% | 加碼 |
| 48 | INTU | Intuit Inc | 0% | +346.15% | 加碼 |
| 49 | MDT | Medtronic plc | 0% | +318.75% | 加碼 |
| 50 | TJX | Tjx Companies Inc | 0% | +107.74% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Steph & Co 在 Q4 2025 季度的美股持倉總市值約為 US$3.9億，共申報了 310 個公開持股部位。
在 Q4 2025 季度，Steph & Co 按市值排列的前三大核心持股分別為：JAVA (17.0%)、VOO (13.7%)、JGRO (13.3%)。其中最大持股部位 JAVA 佔據整體投資組合約 17.0% 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
FENI
市值: US$1099.1萬
本季最大獲利了結 / 清倉標的
AXS
前期市值: US$39.3萬
在 Q4 2025 季度中，Steph & Co 共進行了 196 項持倉異動，包含新建倉 15 個部位、加碼 66 個部位、減碼 87 個部位以及清倉 28 個部位。 其中最大新建倉標的為 FENI。 本季清倉部位包含 AXS。
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。