摩根大通持仓转向防御？Q4大举减持科技巨头，买入美债、礼来与道达尔

智通财经02-12

摩根大通递交了截至2025年12月31日的第四季度持仓报告(13F)。根据美国证券交易委员会(SEC)披露，摩根大通递交了截至2025年12月31日的第四季度持仓报告(13F)。据统计，摩根大通第四季度持仓总市值为1.59万亿美元，上一季度总市值为1.67万亿美元。该基金在第四季度的投资组合中新增了638只个股，增持了2643只个股，减持了3425只个股，清仓了605只个股。其中前十大持仓标的占总...

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Q4 aggressively reduced holdings of technology giants, buying U.S. bonds, Eli Lilly and Total","themeId":"f77aaaa245f8842dc197a0aaccd24872","isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/4c03718babd2ccfe72108acd6a393bc8","symbols_score_info":{"LLYZ":0.6,"GOOG":0.6,"ELIS":0.6,"IEF":0.6,"LLYX":0.6,"TSLA":0.6,"SHY":0.6,"IEI":0.6,"TTE":1.87,"LLY":1.88,"META":0.6,"ELIL":0.6,"JPM":1.95,"NVDA":1.85,"GOVT":0.6,"AMZN":0.6,"AAPL":0.6,"MSFT":1.84},"content_text":"摩根大通递交了截至2025年12月31日的第四季度持仓报告(13F)。根据美国证券交易委员会(SEC)披露，摩根大通递交了截至2025年12月31日的第四季度持仓报告(13F)。据统计，摩根大通第四季度持仓总市值为1.59万亿美元，上一季度总市值为1.67万亿美元。该基金在第四季度的投资组合中新增了638只个股，增持了2643只个股，减持了3425只个股，清仓了605只个股。其中前十大持仓标的占总市值的26.27%。在摩根大通第四季度的前十大重仓股中，科技巨头仍占多数。在前五大重仓股中：英伟达(NVDA.US)位列第一，持仓4.56亿股，持仓市值约911.7亿美元，占投资组合比例为5.34%，较上季度持仓数量减少6.65%。微软(MSFT.US)仍位列第二，持仓1.48亿股，持仓市值约714.6亿美元，占投资组合比例为4.49%，较上季度持仓数量减少6.96%。苹果(AAPL.US)位列第三，持仓2.26亿股，持仓市值约612.8亿美元，占投资组合比例为3.85%，较上季度持仓数量减少4.75%。亚马逊(AMZN.US)位列第四，持仓1.60亿股，持仓市值约369.4亿美元，占投资组合比例为2.32%，较上季度持仓数量降低12.38%。博通(AVGO.US)位列第五，持仓9375.9万股，持仓市值约324.5亿美元，占投资组合比例为2.04%，较上季度持仓数量降低0.20%。从持仓比例变化来看，前五大买入标的为：谷歌-C(GOOG.US)、SPDR标普500 ETF看跌期权(SPY.US,PUT)、礼来(LLY.US)、JPMorgan BetaBuilders Europe ETF(BBEU.US)、iShares安硕核心美国国债ETF(GOVT.US)。前五大卖出标的包括：Meta(META.US)、Vangurd标普500 ETF(VOO.US)、微软(MSFT.US)、iShares核心标普500ETF (IVV.US)、甲骨文(ORCL.US)。总的来看，小摩四季度大举减持美股科技股巨头，七大科技巨头均遭到抛售;与此同时，减持了以科技股为重的标普500指数ETF。值得注意的是，小摩在第四季度还大举新建仓了能源巨头道达尔(TTE.US)。此前，高盛公布的第四季度13F也显示新建仓道达尔。","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":4,"commentSize":0,"repostSize":1,"favoriteSize":5,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2610100109","isCrawlerRequest":true}