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: 0001632812
申報總市值
US$7.5億
US$7.5億
143 檔
42.6%
根據最新整理的 13F 季度數據集，Bdf-gestion 於 Q3 2025 結束時的管理資產規模為 US$7.5億。該機構在本季度申報了 143 檔美股持倉，呈現出該時期的主要投資地圖。
在 Q3 2025，Bdf-gestion 展現出較為審慎的避險與獲利了結姿態。本季共減碼 23 個部位並完全清倉 11 檔持股，調降曝險的部位數量高於加碼動作。
檢視投資組合結構，前 5 大主力部位（包含 NVDA, MSFT, AAPL）占據了總市值的 42.6%，展現出該機構在 Q3 2025 的重點資金聚焦與風險分佈特徵。
| # | 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 | NVDA | Nvidia CORP | 股票-科技 | 10.66% | -10.06% | -19.95% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 9.35% | -6.73% | -17.21% | |
| 3 | AAPL | Apple Inc | 股票-科技 | 8.99% | -9.43% | -13.91% | |
| 4 | AVGO | Broadcom Inc | 股票-科技 | 4.50% | -3.94% | -5.24% | |
| 5 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 4.27% | -3.35% | -5.24% | |
| 6 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 3.29% | -3.94% | -17.21% | |
| 7 | JPM | Jpmorgan Chase & Co | 股票-金融 | 2.40% | -2.16% | -17.21% | |
| 8 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.81% | -2.04% | -17.22% | |
| 9 | V | Visa Inc-class A Shares | 股票-金融 | 1.47% | -0.89% | -17.22% | |
| 10 | HD | Home Depot Inc | 股票-循環性消費 | 1.22% | -0.17% | -17.21% | |
| 11 | GS | Goldman Sachs Group Inc | 股票-金融 | 1.19% | -0.45% | -17.22% | |
| 12 | BAC | Bank Of America CORP | 股票-金融 | 1.15% | -0.56% | -17.21% | |
| 13 | MA | Mastercard Inc - A | 股票-金融 | 1.12% | -0.62% | -17.22% | |
| 14 | ABT | Abbott Laboratories | 股票-醫療保健 | 1.03% | +0.27% | +10.38% | |
| 15 | C | Citigroup Inc | 股票-金融 | 1.01% | -0.50% | +12.90% | |
| 16 | NFLX | Netflix Inc | 股票-通訊服務 | 1.00% | -0.54% | — | |
| 17 | PLTR | Palantir Technologies Inc-a | 股票-科技 | 0.97% | -0.66% | +37.98% | |
| 18 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 0.96% | -0.72% | +50.51% | |
| 19 | ABBV | Abbvie Inc | 股票-醫療保健 | 0.95% | -1.02% | -17.21% | |
| 20 | ORCL | Oracle CORP | 股票-科技 | 0.87% | -0.56% | -17.21% | |
| 21 | MSI | Motorola Solutions Inc | 股票-科技 | 0.76% | -0.27% | -17.22% | |
| 22 | CRM | Salesforce Inc | 股票-科技 | 0.75% | -0.74% | EXIT | |
| 23 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 0.75% | -0.49% | -17.21% | |
| 24 | TJX | Tjx Companies Inc | 股票-循環性消費 | 0.75% | +0.19% | NEW | |
| 25 | AMAT | Applied Materials Inc | 股票-科技 | 0.71% | -0.58% | +49.77% | |
| 26 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 0.70% | -0.40% | -17.22% | |
| 27 | NOW | Servicenow Inc | 股票-科技 | 0.69% | -0.27% | -17.24% | |
| 28 | PANW | Palo Alto Networks Inc | 股票-科技 | 0.66% | -0.34% | — | |
| 29 | CSCO | Cisco Systems Inc | 股票-科技 | 0.65% | -0.40% | -17.21% | |
| 30 | AMD | Advanced Micro Devices | 股票-科技 | 0.64% | +9.09% | -54.38% | |
| 31 | INTC | Intel CORP | 股票-科技 | 0.62% | +0.28% | NEW | |
| 32 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.61% | -0.74% | EXIT | |
| 33 | TXN | Texas Instruments Inc | 股票-科技 | 0.61% | -0.19% | -17.21% | |
| 34 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 0.59% | -0.26% | -17.22% | |
| 35 | TMUS | T-mobile US Inc | 股票-通訊服務 | 0.58% | +0.21% | -17.22% | |
| 36 | EA | Electronic Arts Inc | 股票-通訊服務 | 0.57% | — | -17.22% | |
| 37 | DDOG | Datadog Inc - Class A | 股票-科技 | 0.56% | — | -17.21% | |
| 38 | PLD | Prologis Inc | 股票-房地產 | 0.52% | -0.30% | -17.21% | |
| 39 | ADSK | Autodesk Inc | 股票-科技 | 0.52% | -0.09% | -17.22% | |
| 40 | ALL | Allstate CORP | 股票-金融 | 0.51% | +0.16% | -17.22% | |
| 41 | AXP | American Express Co | 股票-金融 | 0.51% | -0.15% | -17.22% | |
| 42 | LIN | Linde plc | 股票-原物料 | 0.50% | +0.18% | -17.23% | |
| 43 | MDLZ | Mondelez International Inc-a | 股票-非循環性消費 | 0.50% | +0.26% | -17.21% | |
| 44 | CDNS | Cadence Design Sys Inc | 股票-科技 | 0.50% | -0.07% | — | |
| 45 | ACN | Accenture plc | 股票-科技 | 0.49% | -0.09% | -17.22% | |
| 46 | T | At&t Inc | 股票-通訊服務 | 0.49% | +0.12% | — | |
| 47 | ADP | Automatic Data Processing | 股票-科技 | 0.48% | -0.07% | -17.22% | |
| 48 | SPG | Simon Property Group Inc | 股票-房地產 | 0.48% | +0.21% | -17.22% | |
| 49 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.47% | -0.32% | -17.21% | |
| 50 | BSX | Boston Scientific CORP | 股票-醫療保健 | 0.47% | -0.10% | +9.69% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | +3.5% | -19.95% | 減碼 |
| 2 | AVGO | Broadcom Inc | +2.2% | -5.24% | 減碼 |
| 3 | META | Meta Platforms Inc-class A | +1.3% | -5.24% | 加碼 |
| 4 | INTC | Intel CORP | +0.5% | -17.21% | 加碼 |
| 5 | JPM | Jpmorgan Chase & Co | +0.5% | -17.21% | 減碼 |
| 6 | MSFT | Microsoft CORP | +0.4% | -17.21% | 減碼 |
| 7 | AMAT | Applied Materials Inc | +0.4% | +49.77% | 加碼 |
| 8 | ORCL | Oracle CORP | +0.3% | -17.21% | 減碼 |
| 9 | HD | Home Depot Inc | -0.1% | -17.21% | 減碼 |
| 10 | AMD | Advanced Micro Devices | -0.2% | -54.38% | 減碼 |
| 11 | MA | Mastercard Inc - A | -0.2% | -17.22% | 減碼 |
| 12 | KO | Coca-cola Co/the | -0.2% | -17.21% | 減碼 |
| 13 | FISV | Fiserv Inc | -0.2% | -17.23% | 減碼 |
| 14 | HUM | Humana Inc | -0.3% | -17.25% | 減碼 |
| 15 | ACN | Accenture plc | -0.3% | -17.22% | 減碼 |
| 16 | ABBV | Abbvie Inc | -0.3% | -17.21% | 減碼 |
| 17 | PG | Procter & Gamble Co/the | -0.3% | -17.21% | 減碼 |
| 18 | BAC | Bank Of America CORP | -0.3% | -17.21% | 減碼 |
| 19 | AAPL | Apple Inc | -0.3% | -13.91% | 減碼 |
| 20 | V | Visa Inc-class A Shares | -0.4% | -17.22% | 減碼 |
| 21 | GOOG | Alphabet Inc-cl C | -0.4% | -17.21% | 減碼 |
| 22 | CDW | Cdw Corp/de | -0.5% | -17.22% | 減碼 |
| 23 | MRK | Merck & Co. Inc. | -0.5% | -17.21% | 減碼 |
| 24 | LLY | Eli Lilly & Co | -0.6% | -17.22% | 減碼 |
| 25 | VZ | Verizon Communications Inc | -0.7% | -68.32% | 減碼 |
| 26 | UNH | Unitedhealth Group Inc | -1.2% | -17.22% | 減碼 |
| 27 | TSLA | Tesla Inc | — | EXIT | 清倉 |
| 28 | NFLX | Netflix Inc | — | NEW | 新建倉 |
| 29 | PLTR | Palantir Technologies Inc-a | — | NEW | 新建倉 |
| 30 | BKNG | Booking Holdings Inc | — | EXIT | 清倉 |
| 31 | GE | General Electric | — | EXIT | 清倉 |
| 32 | PANW | Palo Alto Networks Inc | — | NEW | 新建倉 |
| 33 | SCI | Service CORP International | — | EXIT | 清倉 |
| 34 | CDNS | Cadence Design Sys Inc | — | NEW | 新建倉 |
| 35 | ELV | Elevance Health Inc | — | EXIT | 清倉 |
| 36 | T | At&t Inc | — | NEW | 新建倉 |
| 37 | COR | Cencora Inc | — | NEW | 新建倉 |
| 38 | FITB | Fifth Third Bancorp | — | EXIT | 清倉 |
| 39 | DIS | Walt Disney Co/the | — | NEW | 新建倉 |
| 40 | MCK | Mckesson CORP | — | EXIT | 清倉 |
| 41 | LRCX | Lam Research CORP | — | NEW | 新建倉 |
| 42 | WFC | Wells Fargo & Co | — | NEW | 新建倉 |
| 43 | DXCM | Dexcom Inc | — | EXIT | 清倉 |
| 44 | WELL | Welltower Inc | — | NEW | 新建倉 |
| 45 | PPG | Ppg Industries Inc | — | EXIT | 清倉 |
| 46 | BURL | Burlington Stores Inc | — | EXIT | 清倉 |
| 47 | COO | Cooper Cos Inc/the | — | EXIT | 清倉 |
| 48 | MKC | Mccormick & Co-non Vtg Shrs | — | NEW | 新建倉 |
| 49 | OMC | Omnicom Group | — | NEW | 新建倉 |
| 50 | HUBS | Hubspot Inc | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Bdf-gestion 在 Q3 2025 季度的美股持倉總市值約為 US$7.5億，共申報了 143 個公開持股部位。
在 Q3 2025 季度，Bdf-gestion 按市值排列的前三大核心持股分別為：NVDA (10.7%)、MSFT (9.3%)、AAPL (9.0%)。其中最大持股部位 NVDA 佔據整體投資組合約 10.7% 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
NFLX
市值: US$839.2萬
本季最大獲利了結 / 清倉標的
TSLA
前期市值: US$1303.9萬
在 Q3 2025 季度中，Bdf-gestion 共進行了 50 項持倉異動，包含新建倉 13 個部位、加碼 3 個部位、減碼 23 個部位以及清倉 11 個部位。 其中最大新建倉標的為 NFLX。 本季清倉部位包含 TSLA。
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。