与标普500指数的表现对比

03
追踪时间 Q1 2025–Q4 2025 +17.1%
标普500指数同期总回报率 +26.1%
超额回报 -9.0%

年化：+23.2% · 标普500指数：+36.0%

近似于基于季度SEC 13F快照构建的买入并持有投资组合。不包括现金、空头头寸、期权/衍生品和非13(f)证券——仅反映已披露的多头股票账簿，而非基金总资产管理规模。SEC文件延迟最多可达45天；这不是一个可实时复制的交易。

可定价覆盖率：94.3% · 已排除期权：0.0%

行业细分

04
Industrials 22.2%
Financials 17.9%
Technology 15.6%
Healthcare 12.4%
Energy 8.4%
Communication Services 6.1%
Retail 5.0%
Utilities 4.2%
Consumer Staples 4.1%
Materials 4.1%
Consumer Discretionary 0.0%

完整投资组合 30 持仓

05
类型 连胜 8个季度趋势
GOOG Alphabet Inc. - Class C Capital Stock $26686693 5.77% 85261 $1252355 下跌 ×4
GLW Corning Incorporated Common Stock $23313288 5.04% 266255 $-1782560 下跌 ×4
TEL TE Connectivity plc Ordinary Shares $23049038 4.98% 101310 $-816068 下跌 ×2
JPM JP Morgan Chase & Co. Common Stock $22507067 4.87% 69850 $-65735 下跌 ×4
AAPL Apple Inc. - Common Stock $21845310 4.72% 80355 $1064956 下跌 ×4
AMZN Amazon.com, Inc. - Common Stock $21791485 4.71% 94409 $761290 下跌 ×2
MSFT Microsoft Corporation - Common Stock $21666660 4.68% 44801 $-2003655 下跌 ×4
V Visa Inc. $21309140 4.61% 60760 $477450 下跌 ×4
AMGN Amgen Inc. - Common Stock $20859139 4.51% 63729 $2395075 下跌 ×3
EMR Emerson Electric Company Common Stock $20446843 4.42% 154060 $-90698 下跌 ×4
ENB Enbridge Inc Common Stock $20145279 4.36% 421185 $-1450592 下跌 ×4
BLK BlackRock, Inc. Common Stock $20037835 4.33% 18721 $-1931819 下跌 ×2
MDT Medtronic plc. Ordinary Shares $19725921 4.26% 205350 $-760679 下跌 ×4
NEE NextEra Energy, Inc. Common Stock $19393641 4.19% 241575 $793660 下跌 ×2
BRK-B (申报为 BRKB) Berkshire Hathaway Inc. Class B $19074562 4.12% 37948 $747175 上涨 ×1
PEP PepsiCo, Inc. - Common Stock $18787486 4.06% 130905 $252215 下跌 ×2
CVX Chevron Corporation Common Stock $18638981 4.03% 122295 $-547875 下跌 ×2
APD Air Products and Chemicals, Inc. Common Stock $18596160 4.02% 75282 $1147807 上涨 ×1
TXN Texas Instruments Incorporated - Common Stock $18591188 4.02% 107160 $728957 上涨 ×1
HON Honeywell International Inc. - Common Stock $18482241 4.00% 94737 $167267 上涨 ×2
CNI Canadian National Railway Company Common Stock $17620704 3.81% 178257 $1192041 上涨 ×1
ZTS Zoetis Inc. Class A Common Stock $16426430 3.55% 130555 $555100 上涨 ×1
NVDA NVIDIA Corporation - Common Stock $7303713 1.58% 39162 $-3133
AVGO Broadcom Inc. - Common Stock $2690235 0.58% 7773 $93843 下跌 ×2
GOOGL Alphabet Inc. - Class A Common Stock $1548603 0.33% 4935 $334506 下跌 ×1
COST Costco Wholesale Corporation - Common Stock $734714 0.16% 852 $-53923
TJX TJX Companies, Inc. (The) Common Stock $614440 0.13% 4000 $36280
AVY Avery Dennison Corporation Common Stock $267727 0.06% 1472 $29013
ARWR Arrowhead Pharmaceuticals, Inc. - Common Stock $248963 0.05% 3750 上涨 ×1
LIND Lindblad Expeditions Holdings Inc. - Common Stock $173040 0.04% 12000 $19440

最大新仓位

09

本季度新开仓位，按规模从大到小排序。

证券价值股份% 占投资组合
ARWR $248963 3750 0.05%

季度涨幅榜

10
证券操作股份变动价值变动
AMGN 削减 -2K +$2.4M
MSFT 削减 -899 -$2.0M
BLK 削减 -123 -$1.9M
GLW 削减 -40K -$1.8M
ENB 削减 -7K -$1.5M
GOOG 削减 -19K +$1.3M
CNI 增持 +4K +$1.2M
APD 增持 +11K +$1.1M
AAPL 削减 -1K +$1.1M
TEL 削减 -7K -$816K

已退出持仓

11

包含公司事件（合并、退市）——并非所有退出都是卖出

已关闭的头寸反映了 13F 报告的变更；对于指数管理人来说，这些通常是机械性的（退市、并购、指数再平衡），而不是主动决策。

证券季度先前持股数先前价值退出后价格
ACN 2025年9月30日 62726 $18748174 -19.3%
BLK (申报为 BLKXXXX) 2025年6月30日 19520 $18475290 1.0%
A 2025年6月30日 132480 $15497510 42.2%
PFF 2025年6月30日 286100 $8791853