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: 0001103804
申報總市值
US$350.8億
US$350.8億
78 檔
21.7%
在 Q3 2025 的 13F 官方備案中，Viking Global Investors LP 管理的美股投資組合規模來到 US$350.8億，整體持股檔數為 78 檔。
在 Q3 2025 期間，Viking Global Investors LP 展現了靈活的資產再平衡步調，透過出清 36 檔弱勢或達到目標價部位，將資金轉置於 23 檔新建倉標的之中。
在資產配置集中度方面，Viking Global Investors LP 的前 5 大核心持股（包含 PNC, JPM, SCHW 等）合計佔整體申報市值的 21.7%，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 | PNC | Pnc Financial Services Group | 股票-金融 | 4.15% | -1.76% | EXIT | |
| 2 | JPM | Jpmorgan Chase & Co | 股票-金融 | 4.14% | +0.49% | +25.16% | |
| 3 | SCHW | Schwab (charles) CORP | 股票-金融 | 4.11% | -1.06% | +5.13% | |
| 4 | COF | Capital One Financial CORP | 股票-金融 | 4.08% | -0.60% | +30.28% | |
| 5 | MSFT | Microsoft CORP | 股票-科技 | 3.27% | -0.84% | — | |
| 6 | DIS | Walt Disney Co/the | 股票-通訊服務 | 3.11% | -1.63% | +78.69% | |
| 7 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 2.86% | +0.09% | -8.89% | |
| 8 | MCD | Mcdonald's CORP | 股票-循環性消費 | 2.66% | -0.97% | +7.98% | |
| 9 | FTV | Fortive CORP | 股票-科技 | 2.61% | -0.01% | +28.73% | |
| 10 | APD | Air Products & Chemicals Inc | 股票-原物料 | 2.60% | +0.63% | +70.23% | |
| 11 | SHW | Sherwin-williams Co/the | 股票-原物料 | 2.59% | +1.01% | +47.16% | |
| 12 | V | Visa Inc-class A Shares | 股票-金融 | 2.57% | +0.90% | +78.75% | |
| 13 | BBIO | Bridgebio Pharma Inc | 股票-醫療保健 | 2.16% | -0.35% | -13.89% | |
| 14 | GM | General Motors Co | 股票-循環性消費 | 2.06% | -0.81% | +0.06% | |
| 15 | CVNA | Carvana Co | 股票-循環性消費 | 2.06% | -0.13% | +94.92% | |
| 16 | TMUS | T-mobile US Inc | 股票-通訊服務 | 2.03% | -1.74% | EXIT | |
| 17 | JNJ | Johnson & Johnson | 股票-醫療保健 | 1.94% | +0.13% | +368.49% | |
| 18 | BLK | Blackrock Inc | 股票-金融 | 1.88% | — | +217.52% | |
| 19 | PM | Philip Morris International | 股票-非循環性消費 | 1.86% | — | +28.14% | |
| 20 | TSLA | Tesla Inc | 股票-循環性消費 | 1.86% | -1.93% | +46.30% | |
| 21 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.77% | +1.30% | +249.91% | |
| 22 | AMD | Advanced Micro Devices | 股票-科技 | 1.76% | — | +118.85% | |
| 23 | BA | Boeing Co/the | 股票-工業 | 1.69% | +0.24% | +6.19% | |
| 24 | NKE | Nike Inc -cl B | 股票-循環性消費 | 1.63% | — | +29.13% | |
| 25 | NFLX | Netflix Inc | 股票-通訊服務 | 1.56% | — | — | |
| 26 | BAC | Bank Of America CORP | 股票-金融 | 1.54% | — | -63.20% | |
| 27 | HCA | Hca Healthcare Inc | 股票-醫療保健 | 1.53% | -1.42% | EXIT | |
| 28 | CSX | Csx CORP | 股票-工業 | 1.47% | -2.14% | EXIT | |
| 29 | DKNG | Draftkings Inc-cl A | 股票-循環性消費 | 1.46% | — | — | |
| 30 | COR | Cencora Inc | 股票-醫療保健 | 1.44% | — | -14.58% | |
| 31 | DHR | Danaher CORP | 股票-醫療保健 | 1.42% | — | -5.37% | |
| 32 | SE | Sea Ltd-adr | 股票-通訊服務 | 1.41% | +0.45% | -14.07% | |
| 33 | UBS | UBS Group AG | 股票-金融 | 1.39% | +0.34% | NEW | |
| 34 | PRMB | Primo Brands CORP | 股票-非循環性消費 | 1.32% | — | +17.51% | |
| 35 | AON | Aon plc | 股票-金融 | 1.31% | +0.11% | — | |
| 36 | TIC | Tic Solutions Inc | 股票-其他 | 1.19% | +0.17% | — | |
| 37 | BMRN | Biomarin Pharmaceutical Inc | 股票-醫療保健 | 1.17% | +0.12% | -32.28% | |
| 38 | ADPT | Adaptive Biotechnologies | 股票-其他 | 1.17% | +0.67% | — | |
| 39 | RRX | Regal Rexnord CORP | 股票-工業 | 1.16% | -0.22% | -8.95% | |
| 40 | CLS | Celestica Inc | 股票-科技 | 1.10% | -1.30% | EXIT | |
| 41 | APG | Api Group CORP | 股票-工業 | 1.10% | -0.66% | EXIT | |
| 42 | SAIA | Saia Inc | 股票-工業 | 1.08% | — | +67.21% | |
| 43 | CPT | Camden Property Trust | 股票-房地產 | 1.07% | +0.18% | +41.63% | |
| 44 | MAA | Mid-america Apartment Comm | 股票-房地產 | 0.96% | +0.36% | — | |
| 45 | ROIV | Roivant Sciences Ltd. | 股票-醫療保健 | 0.93% | +0.11% | -31.09% | |
| 46 | KKR | Kkr & Co Inc | 股票-金融 | 0.91% | — | — | |
| 47 | ROST | Ross Stores Inc | 股票-循環性消費 | 0.80% | — | -57.37% | |
| 48 | CMG | Chipotle Mexican Grill Inc | 股票-循環性消費 | 0.68% | — | +16.67% | |
| 49 | BSX | Boston Scientific CORP | 股票-醫療保健 | 0.67% | — | -13.27% | |
| 50 | EW | Edwards Lifesciences CORP | 股票-醫療保健 | 0.62% | -0.25% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | JPM | Jpmorgan Chase & Co | +2.5% | +25.16% | 加碼 |
| 2 | MSFT | Microsoft CORP | +2.5% | — | 加碼 |
| 3 | TSLA | Tesla Inc | +1.6% | +46.30% | 加碼 |
| 4 | MCD | Mcdonald's CORP | +1.5% | +7.98% | 加碼 |
| 5 | SHW | Sherwin-williams Co/the | +1.5% | +47.16% | 加碼 |
| 6 | COF | Capital One Financial CORP | +1.5% | +30.28% | 加碼 |
| 7 | DHR | Danaher CORP | +1.1% | -5.37% | 加碼 |
| 8 | GM | General Motors Co | +1% | +0.06% | 加碼 |
| 9 | PRMB | Primo Brands CORP | +0.8% | +17.51% | 加碼 |
| 10 | TMUS | T-mobile US Inc | +0.7% | +14.66% | 加碼 |
| 11 | NKE | Nike Inc -cl B | +0.5% | +29.13% | 加碼 |
| 12 | COR | Cencora Inc | +0.5% | -14.58% | 加碼 |
| 13 | ADPT | Adaptive Biotechnologies | +0.5% | — | 不變 |
| 14 | AS | Amer Sports, Inc. | +0.4% | +63.46% | 加碼 |
| 15 | CVNA | Carvana Co | +0.4% | +94.92% | 減碼 |
| 16 | MAA | Mid-america Apartment Comm | +0.4% | — | 加碼 |
| 17 | TSM | Taiwan Semiconductor-sp Adr | +0.3% | -8.89% | 減碼 |
| 18 | PM | Philip Morris International | +0.2% | +28.14% | 加碼 |
| 19 | HCA | Hca Healthcare Inc | +0.2% | -26.26% | 加碼 |
| 20 | V | Visa Inc-class A Shares | +0.2% | +78.75% | 加碼 |
| 21 | APP | Applovin Corp-class A | +0.2% | -56.42% | 加碼 |
| 22 | RRX | Regal Rexnord CORP | +0.2% | -8.95% | 加碼 |
| 23 | SION | Sionna Therapeutics Inc | +0.1% | — | 加碼 |
| 24 | ORIC | Oric Pharmaceuticals Inc | +0.1% | — | 不變 |
| 25 | INBX | Inhibrx Biosciences Inc | +0.1% | — | 不變 |
| 26 | DNA | Ginkgo Bioworks Holdings Inc | +0.1% | — | 不變 |
| 27 | RYAN | Ryan Specialty Holdings Inc | +0.1% | +36.96% | 加碼 |
| 28 | PHVS | Pharvaris N.V. | +0.1% | — | 不變 |
| 29 | TRVI | Trevi Therapeutics Inc | +0.1% | +232.40% | 加碼 |
| 30 | NAMS | NewAmsterdam Pharma Company N.V. | 0% | -7.21% | 減碼 |
| 31 | PEPG | Pepgen Inc | 0% | +134.91% | 加碼 |
| 32 | LAB | Standard Biotools Inc | — | — | 不變 |
| 33 | ✓ | Rallybio CORP | — | — | 不變 |
| 34 | CPT | Camden Property Trust | 0% | +41.63% | 加碼 |
| 35 | TIC | Tic Solutions Inc | 0% | — | 不變 |
| 36 | BA | Boeing Co/the | -0.1% | +6.19% | 減碼 |
| 37 | BSX | Boston Scientific CORP | -0.1% | -13.27% | 加碼 |
| 38 | CSX | Csx CORP | -0.1% | -15.49% | 減碼 |
| 39 | FSLR | First Solar Inc | -0.1% | -66.11% | 減碼 |
| 40 | ITGR | Integer Holdings CORP | -0.2% | -20.17% | 減碼 |
| 41 | BBIO | Bridgebio Pharma Inc | -0.3% | -13.89% | 減碼 |
| 42 | CMG | Chipotle Mexican Grill Inc | -0.3% | +16.67% | 加碼 |
| 43 | SCHW | Schwab (charles) CORP | -0.3% | +5.13% | 減碼 |
| 44 | SE | Sea Ltd-adr | -0.3% | -14.07% | 減碼 |
| 45 | TEVA | Teva Pharmaceutical-sp Adr | -0.4% | -78.32% | 減碼 |
| 46 | FTV | Fortive CORP | -0.4% | +28.73% | 加碼 |
| 47 | ROIV | Roivant Sciences Ltd. | -0.6% | -31.09% | 減碼 |
| 48 | DB | Deutsche Bank Aktiengesellschaft | -0.6% | — | 減碼 |
| 49 | NFLX | Netflix Inc | -0.7% | — | 減碼 |
| 50 | META | Meta Platforms Inc-class A | -0.9% | +249.91% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Viking Global Investors LP 在 Q3 2025 季度的美股持倉總市值約為 US$350.8億，共申報了 78 個公開持股部位。
在 Q3 2025 季度，Viking Global Investors LP 按市值排列的前三大核心持股分別為：PNC (4.2%)、JPM (4.1%)、SCHW (4.1%)。其中最大持股部位 PNC 佔據整體投資組合約 4.2% 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
PNC
市值: US$16.0億
本季最大獲利了結 / 清倉標的
USB
前期市值: US$14.7億
在 Q3 2025 季度中，Viking Global Investors LP 共進行了 106 項持倉異動，包含新建倉 23 個部位、加碼 27 個部位、減碼 20 個部位以及清倉 36 個部位。 其中最大新建倉標的為 PNC。 本季清倉部位包含 USB。
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。