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: 0002052594
申報總市值
US$28.3億
US$28.3億
178 檔
25.2%
在 Q4 2025 的 13F 官方備案中，BLI - Banque de Luxembourg Investments 管理的美股投資組合規模來到 US$28.3億，整體持股檔數為 178 檔。
從 Q4 2025 申報觀察，BLI - Banque de Luxembourg Investments 採取防禦導向的調倉策略，本季減碼 28 檔個股並出清 3 檔部位，顯示機構在該時期進行風險控制與流動性回收。
從部位權重觀察，前 5 大標的（包含 MSFT, GOOGL, NVDA）累計市值佔比達 25.2%，是驅動 BLI - Banque de Luxembourg Investments 該季度整體投資組合績效表現的核心支柱。
| # | 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 | MSFT | Microsoft CORP | 股票-科技 | 6.43% | -1.28% | -0.02% | |
| 2 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 5.38% | -1.42% | -1.37% | |
| 3 | NVDA | Nvidia CORP | 股票-科技 | 3.21% | -2.80% | -15.34% | |
| 4 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.20% | -0.72% | +22.99% | |
| 5 | AAPL | Apple Inc | 股票-科技 | 2.74% | +0.59% | -7.51% | |
| 6 | UNP | Union Pacific CORP | 股票-工業 | 2.57% | -0.09% | -5.90% | |
| 7 | CNI | Canadian Natl Railway Co | 股票-工業 | 2.45% | +0.42% | -6.42% | |
| 8 | V | Visa Inc-class A Shares | 股票-金融 | 2.43% | +0.90% | -16.85% | |
| 9 | MA | Mastercard Inc - A | 股票-金融 | 2.29% | +0.20% | -13.61% | |
| 10 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 2.21% | +1.73% | +2.19% | |
| 11 | ADBE | Adobe Inc | 股票-科技 | 1.83% | -1.20% | +3.31% | |
| 12 | CL | Colgate-palmolive Co | 股票-非循環性消費 | 1.78% | -0.04% | -4.15% | |
| 13 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.68% | +0.30% | +2.78% | |
| 14 | ACN | Accenture plc | 股票-科技 | 1.63% | -1.02% | -2.99% | |
| 15 | FNV | Franco-nevada CORP | 股票-原物料 | 1.57% | -0.09% | -8.27% | |
| 16 | RMD | Resmed Inc | 股票-醫療保健 | 1.54% | -0.08% | -13.90% | |
| 17 | AEM | Agnico Eagle Mines LTD | 股票-原物料 | 1.51% | -0.26% | — | |
| 18 | PEP | Pepsico Inc | 股票-非循環性消費 | 1.39% | -0.39% | -10.41% | |
| 19 | VRSK | Verisk Analytics Inc | 股票-工業 | 1.38% | +0.08% | +25.43% | |
| 20 | WPM | Wheaton Precious Metals CORP | 股票-原物料 | 1.36% | +0.25% | +2.21% | |
| 21 | ZTS | Zoetis Inc | 股票-醫療保健 | 1.22% | +0.35% | NEW | |
| 22 | TJX | Tjx Companies Inc | 股票-循環性消費 | 1.16% | +0.23% | +1.63% | |
| 23 | KMB | Kimberly-clark CORP | 股票-非循環性消費 | 1.16% | -0.60% | -8.45% | |
| 24 | WAT | Waters CORP | 股票-醫療保健 | 1.14% | -0.35% | -32.45% | |
| 25 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.12% | -0.36% | -12.55% | |
| 26 | IDXX | Idexx Laboratories Inc | 股票-醫療保健 | 1.12% | -0.38% | -20.13% | |
| 27 | ROL | Rollins Inc | 股票-循環性消費 | 1.04% | +0.21% | -10.72% | |
| 28 | IEX | Idex CORP | 股票-工業 | 0.99% | -0.62% | +22.03% | |
| 29 | MDLZ | Mondelez International Inc-a | 股票-非循環性消費 | 0.92% | -0.05% | -6.15% | |
| 30 | ENB | Enbridge Inc | 股票-能源 | 0.88% | +0.32% | -3.50% | |
| 31 | CAT | Caterpillar Inc | 股票-工業 | 0.86% | -0.22% | -2.80% | |
| 32 | ORLA | Orla Mining LTD | 股票-其他 | 0.84% | -0.26% | +57.78% | |
| 33 | SPGI | S&p Global Inc | 股票-金融 | 0.83% | +0.10% | +3.17% | |
| 34 | CHKP | Check Point Software Technologies Ltd. | 股票-科技 | 0.82% | -0.49% | — | |
| 35 | SITE | Siteone Landscape Supply Inc | 股票-工業 | 0.81% | -0.08% | -1.63% | |
| 36 | AGI | Alamos Gold Inc-class A | 股票-原物料 | 0.78% | +0.72% | +29.94% | |
| 37 | ABT | Abbott Laboratories | 股票-醫療保健 | 0.74% | -0.31% | +10.06% | |
| 38 | AVGO | Broadcom Inc | 股票-科技 | 0.73% | +0.42% | -22.73% | |
| 39 | NKE | Nike Inc -cl B | 股票-循環性消費 | 0.70% | -0.64% | -12.68% | |
| 40 | JNJ | Johnson & Johnson | 股票-醫療保健 | 0.67% | +0.57% | -12.39% | |
| 41 | AMAT | Applied Materials Inc | 股票-科技 | 0.66% | +1.21% | -8.61% | |
| 42 | RGLD | Royal Gold Inc | 股票-原物料 | 0.66% | +0.06% | -16.67% | |
| 43 | MCO | Moody's CORP | 股票-金融 | 0.66% | -0.26% | -17.73% | |
| 44 | SNPS | Synopsys Inc | 股票-科技 | 0.64% | -0.19% | +12.40% | |
| 45 | ANET | Arista Networks Inc | 股票-科技 | 0.64% | +0.34% | -15.69% | |
| 46 | ADSK | Autodesk Inc | 股票-科技 | 0.63% | -0.36% | -6.23% | |
| 47 | DHR | Danaher CORP | 股票-醫療保健 | 0.61% | -0.16% | -11.51% | |
| 48 | KLAC | Kla CORP | 股票-科技 | 0.61% | +0.98% | -9.53% | |
| 49 | ROP | Roper Technologies Inc | 股票-科技 | 0.57% | -0.40% | -23.08% | |
| 50 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.55% | +0.69% | -30.56% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +1.2% | -1.37% | 減碼 |
| 2 | AMZN | Amazon.com Inc | +0.7% | +22.99% | 加碼 |
| 3 | ORLA | Orla Mining LTD | +0.4% | +57.78% | 加碼 |
| 4 | IEX | Idex CORP | +0.3% | +22.03% | 加碼 |
| 5 | AGI | Alamos Gold Inc-class A | +0.2% | +29.94% | 加碼 |
| 6 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | +2.19% | 加碼 |
| 7 | VRSK | Verisk Analytics Inc | +0.2% | +25.43% | 加碼 |
| 8 | CAT | Caterpillar Inc | +0.1% | -2.80% | 減碼 |
| 9 | LRCX | Lam Research CORP | +0.1% | +18.52% | 加碼 |
| 10 | PEP | Pepsico Inc | -0.1% | -10.41% | 減碼 |
| 11 | WAT | Waters CORP | -0.1% | -32.45% | 減碼 |
| 12 | VEEV | Veeva Systems Inc-class A | -0.1% | -1.67% | 減碼 |
| 13 | POOL | Pool CORP | -0.1% | -6.77% | 減碼 |
| 14 | PG | Procter & Gamble Co/the | -0.1% | -12.59% | 減碼 |
| 15 | PODD | Insulet CORP | -0.1% | -71.25% | 減碼 |
| 16 | META | Meta Platforms Inc-class A | -0.1% | +2.78% | 加碼 |
| 17 | AVGO | Broadcom Inc | -0.1% | -22.73% | 減碼 |
| 18 | CLX | Clorox Company | -0.1% | -5.56% | 減碼 |
| 19 | UNH | Unitedhealth Group Inc | -0.2% | -24.08% | 減碼 |
| 20 | IDXX | Idexx Laboratories Inc | -0.2% | -20.13% | 減碼 |
| 21 | UNP | Union Pacific CORP | -0.2% | -5.90% | 減碼 |
| 22 | PAYX | Paychex Inc | -0.2% | -24.99% | 減碼 |
| 23 | ANET | Arista Networks Inc | -0.2% | -15.69% | 減碼 |
| 24 | MDLZ | Mondelez International Inc-a | -0.2% | -6.15% | 減碼 |
| 25 | QLYS | Qualys Inc | -0.2% | -74.60% | 減碼 |
| 26 | NKE | Nike Inc -cl B | -0.2% | -12.68% | 減碼 |
| 27 | ROP | Roper Technologies Inc | -0.2% | -23.08% | 減碼 |
| 28 | FNV | Franco-nevada CORP | -0.3% | -8.27% | 減碼 |
| 29 | STZ | Constellation Brands Inc-a | -0.3% | -97.91% | 減碼 |
| 30 | MA | Mastercard Inc - A | -0.3% | -13.61% | 減碼 |
| 31 | ORCL | Oracle CORP | -0.3% | -39.15% | 減碼 |
| 32 | MSFT | Microsoft CORP | -0.3% | -0.02% | 減碼 |
| 33 | V | Visa Inc-class A Shares | -0.4% | -16.85% | 減碼 |
| 34 | KMB | Kimberly-clark CORP | -0.4% | -8.45% | 減碼 |
| 35 | RMD | Resmed Inc | -0.4% | -13.90% | 減碼 |
| 36 | NVDA | Nvidia CORP | -0.5% | -15.34% | 減碼 |
| 37 | ZTS | Zoetis Inc | — | NEW | 新建倉 |
| 38 | ZBRA | Zebra Technologies Corp-cl A | — | NEW | 新建倉 |
| 39 | BRK-B | Berkshire Hathaway Inc-cl B | — | NEW | 新建倉 |
| 40 | EW | Edwards Lifesciences CORP | — | NEW | 新建倉 |
| 41 | XYL | Xylem Inc | — | NEW | 新建倉 |
| 42 | YUMC | Yum China Holdings Inc | — | NEW | 新建倉 |
| 43 | VRSN | Verisign Inc | — | NEW | 新建倉 |
| 44 | TREX | Trex Company Inc | — | EXIT | 清倉 |
| 45 | WMT | Walmart Inc | — | NEW | 新建倉 |
| 46 | MICC | The Magnum Ice Cream Company N. | — | NEW | 新建倉 |
| 47 | AMT | American Tower CORP | — | EXIT | 清倉 |
| 48 | PLD | Prologis Inc | — | NEW | 新建倉 |
| 49 | UBER | Uber Technologies Inc | — | NEW | 新建倉 |
| 50 | SRE | Sempra | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，BLI - Banque de Luxembourg Investments 在 Q4 2025 季度的美股持倉總市值約為 US$28.3億，共申報了 178 個公開持股部位。
在 Q4 2025 季度，BLI - Banque de Luxembourg Investments 按市值排列的前三大核心持股分別為：MSFT (6.4%)、GOOGL (5.4%)、NVDA (3.2%)。其中最大持股部位 MSFT 佔據整體投資組合約 6.4% 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
ZTS
市值: US$4156.4萬
本季最大獲利了結 / 清倉標的
TREX
前期市值: US$597.0萬
在 Q4 2025 季度中，BLI - Banque de Luxembourg Investments 共進行了 50 項持倉異動，包含新建倉 11 個部位、加碼 8 個部位、減碼 28 個部位以及清倉 3 個部位。 其中最大新建倉標的為 ZTS。 本季清倉部位包含 TREX。
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。