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: 0001015079
申報總市值
US$142.6億
US$142.6億
180 檔
12.0%
Q3 2025 季度申報顯示，Brandes Investment Partners, LP 揭露的美股組合總市值為 US$142.6億，涵蓋 180 個不同之權益投資部位。
在 Q3 2025，Brandes Investment Partners, LP 操作展現出積極擴展與加碼意向。本季共新建倉 9 個新部位，並對 122 個既有持股進行加碼（合計增持 131 檔），相較減碼與清倉部位顯著佔優。
檢視投資組合結構，前 5 大主力部位（包含 CAE, EMBJ, OTEX）占據了總市值的 12.0%，展現出該機構在 Q3 2025 的重點資金聚焦與風險分佈特徵。
本季最大新建倉標的
BDX
市值: US$2.2億
本季最大獲利了結 / 清倉標的
UWMC
前期市值: US$6676.9萬
| # | 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 | CAE | Cae Inc | 股票-其他 | 3.56% | +0.30% | +1.26% | |
| 2 | EMBJ | Embraer Sa-spon Adr | 股票-工業 | 2.85% | +0.30% | -6.25% | |
| 3 | OTEX | Open Text CORP | 股票-其他 | 2.70% | +0.12% | +7.54% | |
| 4 | GRFS | Grifols Sa-adr | 股票-其他 | 2.33% | -0.18% | +3.85% | |
| 5 | TIGO | Millicom International Cellular S.A. | 股票-通訊服務 | 2.27% | +0.02% | -11.92% | |
| 6 | C | Citigroup Inc | 股票-金融 | 2.13% | -0.32% | -5.74% | |
| 7 | BAC | Bank Of America CORP | 股票-金融 | 2.06% | -0.06% | +2.62% | |
| 8 | WFC | Wells Fargo & Co | 股票-金融 | 1.96% | -0.22% | +4.78% | |
| 9 | TXT | Textron Inc | 股票-工業 | 1.94% | -0.14% | +5.64% | |
| 10 | CI | THE Cigna Group | 股票-醫療保健 | 1.91% | -0.27% | +22.77% | |
| 11 | CX | Cemex Sab-spons Adr Part Cer | 股票-其他 | 1.80% | +0.10% | -23.72% | |
| 12 | DOX | Amdocs Limited | 股票-科技 | 1.74% | -0.53% | +13.39% | |
| 13 | KMT | Kennametal Inc | 股票-其他 | 1.73% | -0.91% | +26.64% | |
| 14 | BDX | Becton Dickinson And Co | 股票-醫療保健 | 1.73% | +0.08% | +32.31% | |
| 15 | PFE | Pfizer Inc | 股票-醫療保健 | 1.72% | -0.52% | +4.60% | |
| 16 | FISV | Fiserv Inc | 股票-其他 | 1.66% | -0.20% | +37.45% | |
| 17 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 1.63% | -0.24% | +26.69% | |
| 18 | SHEL | Shell Plc-adr | 股票-能源 | 1.47% | -0.65% | +1.70% | |
| 19 | HAL | Halliburton Co | 股票-能源 | 1.47% | -0.55% | +12.40% | |
| 20 | CMCSA | Comcast Corp-class A | 股票-通訊服務 | 1.46% | -0.34% | +3.79% | |
| 21 | FDX | Fedex CORP | 股票-工業 | 1.38% | -0.55% | +10.63% | |
| 22 | HCA | Hca Healthcare Inc | 股票-醫療保健 | 1.37% | -0.30% | +9.67% | |
| 23 | PNC | Pnc Financial Services Group | 股票-金融 | 1.26% | -0.03% | +6.04% | |
| 24 | HXL | Hexcel CORP | 股票-工業 | 1.26% | +0.22% | +2.40% | |
| 25 | CAH | Cardinal Health Inc | 股票-醫療保健 | 1.25% | +0.04% | +4.39% | |
| 26 | CTVA | Corteva Inc | 股票-原物料 | 1.24% | +0.01% | -2.06% | |
| 27 | CTSH | Cognizant Tech Solutions-a | 股票-科技 | 1.22% | -0.63% | +5.14% | |
| 28 | MCK | Mckesson CORP | 股票-醫療保健 | 1.14% | -0.32% | +4.07% | |
| 29 | MU | Micron Technology Inc | 股票-科技 | 1.14% | -0.91% | -26.62% | |
| 30 | INVX | Innovex International Inc | 股票-其他 | 1.14% | -0.14% | +8.54% | |
| 31 | ACGL | Arch Capital Group Ltd. | 股票-金融 | 1.10% | -0.17% | +4.38% | |
| 32 | CVS | Cvs Health CORP | 股票-醫療保健 | 1.09% | +0.21% | +4.38% | |
| 33 | SNY | Sanofi-adr | 股票-醫療保健 | 1.07% | -0.03% | +13.66% | |
| 34 | GLOB | Globant S.A. | 股票-科技 | 1.06% | -0.31% | — | |
| 35 | ICLR | ICON Public Limited Company | 股票-醫療保健 | 1.06% | +0.32% | +264.12% | |
| 36 | UNH | Unitedhealth Group Inc | 股票-醫療保健 | 1.03% | +0.05% | +167.62% | |
| 37 | HN9 | Hanesbrands Inc | 股票-其他 | 1.02% | — | +55.67% | |
| 38 | EPAM | Epam Systems Inc | 股票-科技 | 0.99% | -0.62% | +10552.03% | |
| 39 | EMR | Emerson Electric Co | 股票-工業 | 0.99% | -0.06% | +6.80% | |
| 40 | ELAN | Elanco Animal Health Inc | 股票-醫療保健 | 0.96% | +0.04% | -26.68% | |
| 41 | WLK | Westlake CORP | 股票-原物料 | 0.96% | -0.72% | +6.30% | |
| 42 | AIG | American International Group | 股票-金融 | 0.95% | — | +5.92% | |
| 43 | MHK | Mohawk Industries Inc | 股票-循環性消費 | 0.95% | +0.56% | +5.18% | |
| 44 | BABA | Alibaba Group Holding-sp Adr | 股票-循環性消費 | 0.94% | +0.06% | +3.71% | |
| 45 | ARLO | Arlo Technologies Inc | 股票-其他 | 0.87% | -0.01% | +7.01% | |
| 46 | OMF | Onemain Holdings Inc | 股票-金融 | 0.87% | +0.01% | +2.80% | |
| 47 | EPC | Edgewell Personal Care Co | 股票-其他 | 0.86% | +0.31% | +14.35% | |
| 48 | NTR | Nutrien LTD | 股票-原物料 | 0.84% | -0.50% | EXIT | |
| 49 | CVX | Chevron CORP | 股票-能源 | 0.82% | -0.14% | -3.92% | |
| 50 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 0.80% | -0.12% | +2.95% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | OTEX | Open Text CORP | +1.2% | +7.54% | 加碼 |
| 2 | KMT | Kennametal Inc | +0.7% | +26.64% | 加碼 |
| 3 | HN9 | Hanesbrands Inc | +0.5% | +55.67% | 加碼 |
| 4 | WLK | Westlake CORP | +0.5% | +6.30% | 加碼 |
| 5 | UNH | Unitedhealth Group Inc | +0.5% | +167.62% | 加碼 |
| 6 | GRFS | Grifols Sa-adr | +0.5% | +3.85% | 加碼 |
| 7 | IFF | Intl Flavors & Fragrances | +0.4% | +1313.36% | 加碼 |
| 8 | HXL | Hexcel CORP | +0.4% | +2.40% | 加碼 |
| 9 | TIGO | Millicom International Cellular S.A. | +0.3% | -11.92% | 減碼 |
| 10 | TXT | Textron Inc | +0.3% | +5.64% | 加碼 |
| 11 | TKR | Timken Co | +0.3% | +14.06% | 加碼 |
| 12 | MTX | Minerals Technologies Inc | +0.3% | +23.95% | 加碼 |
| 13 | ARLO | Arlo Technologies Inc | +0.2% | +7.01% | 加碼 |
| 14 | HAL | Halliburton Co | +0.2% | +12.40% | 加碼 |
| 15 | NTR | Nutrien LTD | +0.2% | +9.94% | 加碼 |
| 16 | ✓ | Avadel Pharmaceuticals PLC ADR | +0.2% | -16.07% | 減碼 |
| 17 | SDA | Sealed Air CORP | +0.2% | +19.23% | 加碼 |
| 18 | BABA | Alibaba Group Holding-sp Adr | +0.2% | +3.71% | 加碼 |
| 19 | GOOGL | Alphabet Inc-cl A | +0.2% | +2.95% | 加碼 |
| 20 | GHM | Graham CORP | +0.2% | +4.23% | 加碼 |
| 21 | PZZA | Papa John's Intl Inc | +0.2% | +6.77% | 加碼 |
| 22 | ELAN | Elanco Animal Health Inc | +0.2% | -26.68% | 減碼 |
| 23 | PBH | Prestige Consumer Healthcare | +0.2% | +1636.21% | 加碼 |
| 24 | SAP | Sap Se-sponsored Adr | +0.1% | +82.07% | 加碼 |
| 25 | MOG-A | Moog Inc-class A | +0.1% | +10.55% | 加碼 |
| 26 | IMKTA | Ingles Markets Inc-class A | +0.1% | +22.32% | 加碼 |
| 27 | PKE | Park Aerospace CORP | +0.1% | +2.75% | 加碼 |
| 28 | AMX | America Movil Sab De Cv | +0.1% | +2.85% | 加碼 |
| 29 | ORN | Orion Group Holdings Inc | +0.1% | +14.54% | 加碼 |
| 30 | UNF | Unifirst Corp/ma | +0.1% | +108.44% | 加碼 |
| 31 | PHG | Koninklijke Philips Nvr- Ny | +0.1% | +5.73% | 加碼 |
| 32 | FSTR | Foster (lb) Co-a | +0.1% | +13.66% | 加碼 |
| 33 | C | Citigroup Inc | +0.1% | -5.74% | 減碼 |
| 34 | CX | Cemex Sab-spons Adr Part Cer | +0.1% | -23.72% | 減碼 |
| 35 | KNX | Knight-swift Transportation | +0.1% | +39.57% | 加碼 |
| 36 | HCA | Hca Healthcare Inc | +0.1% | +9.67% | 加碼 |
| 37 | PBR-A | Petroleo Brasil-sp Pref Adr | +0.1% | +16.59% | 加碼 |
| 38 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | -29.70% | 減碼 |
| 39 | SON | Sonoco Products Co | +0.1% | +575.51% | 加碼 |
| 40 | SCHL | Scholastic CORP | +0.1% | +169.98% | 加碼 |
| 41 | IPGP | Ipg Photonics CORP | 0% | +5.63% | 加碼 |
| 42 | UTMD | Utah Medical Products Inc | 0% | +24.55% | 加碼 |
| 43 | XRAY | Dentsply Sirona Inc | 0% | +24.15% | 加碼 |
| 44 | CAE | Cae Inc | 0% | +1.26% | 加碼 |
| 45 | STM | Stmicroelectronics Nv-ny Shs | 0% | +16.00% | 加碼 |
| 46 | RGP | Resources Connection Inc | 0% | +137.00% | 加碼 |
| 47 | GOOG | Alphabet Inc-cl C | 0% | -12.73% | 減碼 |
| 48 | QRVO | Qorvo Inc | 0% | +2.92% | 加碼 |
| 49 | HURC | Hurco Companies Inc | 0% | +16.76% | 加碼 |
| 50 | HO1 | Hologic Inc | 0% | +14.85% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Brandes Investment Partners, LP 在 Q3 2025 季度的美股持倉總市值約為 US$142.6億，共申報了 180 個公開持股部位。
在 Q3 2025 季度，Brandes Investment Partners, LP 按市值排列的前三大核心持股分別為：CAE (3.6%)、EMBJ (2.9%)、OTEX (2.7%)。其中最大持股部位 CAE 佔據整體投資組合約 3.6% 的權重。
在 Q3 2025 季度中，Brandes Investment Partners, LP 共進行了 193 項持倉異動，包含新建倉 9 個部位、加碼 122 個部位、減碼 48 個部位以及清倉 14 個部位。 其中最大新建倉標的為 BDX。 本季清倉部位包含 UWMC。
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。
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。
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。