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: 0000885062
申報總市值
US$5.0億
US$5.0億
105 檔
156.0%
截至 Q1 2025 季度末，Brown Capital Management LLC 的美股持倉估值約為 US$5.0億，全數申報部位共有 105 檔。
Brown Capital Management LLC 在 Q1 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 111 檔，反映機構對當前市場環境或個別公司估值採取較為保留之看法。
檢視投資組合結構，前 5 大主力部位（包含 CYBERARK SOFTWARE LTD. CMN, VEEV, TYL）占據了總市值的 156.0%，展現出該機構在 Q1 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 | ✓ | Cyberark Software LTD. Cmn | 股票-其他 | 6.07% | — | -5.32% | |
| 2 | VEEV | Veeva Systems Inc-class A | 股票-醫療保健 | 4.56% | +0.66% | -10.98% | |
| 3 | TYL | Tyler Technologies Inc | 股票-科技 | 4.49% | -0.35% | -16.06% | |
| 4 | GWRE | Guidewire Software Inc | 股票-科技 | 4.34% | +0.51% | -25.60% | |
| 5 | APPF | Appfolio Inc - A | 股票-科技 | 4.06% | +0.77% | -10.29% | |
| 6 | VCEL | Vericel CORP | 股票-其他 | 3.88% | +1.77% | -10.93% | |
| 7 | DDOG | Datadog Inc - Class A | 股票-科技 | 3.64% | +2.13% | -10.35% | |
| 8 | GKOS | Glaukos CORP | 股票-醫療保健 | 3.54% | +1.17% | -11.52% | |
| 9 | MANH | Manhattan Associates Inc | 股票-科技 | 3.53% | +0.70% | -0.07% | |
| 10 | PAYC | Paycom Software Inc | 股票-科技 | 3.32% | -0.45% | -15.47% | |
| 11 | RGEN | Repligen CORP | 股票-醫療保健 | 3.31% | +0.99% | -9.52% | |
| 12 | AKX | Ansys Inc | 股票-其他 | 3.22% | — | -12.50% | |
| 13 | ALRM | Alarm.com Holdings Inc | 股票-其他 | 3.01% | -1.07% | -24.93% | |
| 14 | QTWO | Q2 Holdings Inc | 股票-科技 | 3.01% | +0.40% | -12.05% | |
| 15 | TECH | Bio-techne CORP | 股票-醫療保健 | 2.95% | +0.49% | -9.70% | |
| 16 | XMTR | Xometry Inc-a | 股票-其他 | 2.34% | +2.56% | -9.66% | |
| 17 | GLBE | Global-E Online Ltd. | 股票-其他 | 2.30% | -1.37% | +16.32% | |
| 18 | CGNX | Cognex CORP | 股票-科技 | 2.15% | +2.21% | -9.53% | |
| 19 | CAMT | Camtek Ltd. | 股票-其他 | 1.95% | -7.51% | +2.83% | |
| 20 | FLUT | Flutter Entertainment plc | 股票-循環性消費 | 1.86% | -1.61% | EXIT | |
| 21 | NCNO | Ncino Inc | 股票-其他 | 1.81% | +0.08% | -7.18% | |
| 22 | ✓ | Enfusion Inc - Class A | 股票-其他 | 1.73% | — | -28.04% | |
| 23 | INSP | Inspire Medical Systems Inc | 股票-醫療保健 | 1.69% | -0.23% | +15.60% | |
| 24 | CWAN | Clearwater Analytics Holdings, Inc. | 股票-科技 | 1.67% | -1.87% | EXIT | |
| 25 | WK | Workiva Inc | 股票-科技 | 1.59% | -0.01% | -9.91% | |
| 26 | MELI | Mercadolibre Inc | 股票-循環性消費 | 1.58% | -3.48% | EXIT | |
| 27 | AGYS | Agilysys Inc | 股票-其他 | 1.41% | +1.21% | +3.94% | |
| 28 | OLOGBX | Olo Inc - Class A | 股票-其他 | 1.28% | — | -12.66% | |
| 29 | ERII | Energy Recovery Inc | 股票-其他 | 1.24% | -0.26% | -11.08% | |
| 30 | KIDS | Orthopediatrics CORP | 股票-其他 | 1.24% | -0.11% | -11.26% | |
| 31 | SHOP | Shopify Inc - Class A | 股票-科技 | 1.22% | -3.40% | EXIT | |
| 32 | HLIO | Helios Technologies Inc | 股票-其他 | 1.14% | — | -23.21% | |
| 33 | SPSC | Sps Commerce Inc | 股票-科技 | 1.07% | -0.13% | +170.63% | |
| 34 | VICR | Vicor CORP | 股票-科技 | 1.04% | — | -9.59% | |
| 35 | ICLR | ICON Public Limited Company | 股票-醫療保健 | 0.96% | -2.48% | EXIT | |
| 36 | TMDX | Transmedics Group Inc | 股票-醫療保健 | 0.95% | -0.19% | — | |
| 37 | UFPT | Ufp Technologies Inc | 股票-其他 | 0.93% | +1.07% | +100.50% | |
| 38 | DV | Doubleverify Holdings Inc | 股票-其他 | 0.90% | -0.79% | EXIT | |
| 39 | CTKB | Cytek Biosciences Inc | 股票-其他 | 0.90% | -0.92% | EXIT | |
| 40 | BMI | Badger Meter Inc | 股票-科技 | 0.81% | +0.29% | — | |
| 41 | MNDY | monday.com Ltd. | 股票-科技 | 0.76% | — | -2.88% | |
| 42 | CYRX | Cryoport Inc | 股票-其他 | 0.74% | +1.18% | -9.09% | |
| 43 | RXST | Rxsight Inc | 股票-其他 | 0.72% | -0.01% | +12.48% | |
| 44 | DUOL | Duolingo | 股票-科技 | 0.71% | +0.21% | — | |
| 45 | TEAM | Atlassian Corp-cl A | 股票-科技 | 0.71% | -1.27% | EXIT | |
| 46 | VERX | Vertex Inc - Class A | 股票-其他 | 0.70% | +0.13% | -3.51% | |
| 47 | CHKP | Check Point Software Technologies Ltd. | 股票-科技 | 0.46% | -0.65% | EXIT | |
| 48 | RDVT | Red Violet Inc | 股票-其他 | 0.40% | +0.82% | — | |
| 49 | PRO | Pros Holdings Inc | 股票-其他 | 0.36% | — | -21.14% | |
| 50 | TNDM | Tandem Diabetes Care Inc | 股票-其他 | 0.34% | — | -7.94% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ✓ | Cyberark Software LTD. Cmn | +5.3% | -5.32% | 減碼 |
| 2 | VCEL | Vericel CORP | +2.1% | -10.93% | 減碼 |
| 3 | RGEN | Repligen CORP | +1.8% | -9.52% | 減碼 |
| 4 | GWRE | Guidewire Software Inc | +1.8% | -25.60% | 減碼 |
| 5 | MELI | Mercadolibre Inc | +1.4% | +1.73% | 加碼 |
| 6 | SHOP | Shopify Inc - Class A | +1.1% | -2.67% | 加碼 |
| 7 | ICLR | ICON Public Limited Company | +0.4% | +1.36% | 減碼 |
| 8 | APPF | Appfolio Inc - A | +0.4% | -10.29% | 減碼 |
| 9 | CHKP | Check Point Software Technologies Ltd. | +0.3% | -8.61% | 減碼 |
| 10 | MSFT | Microsoft CORP | +0.1% | -39.62% | 減碼 |
| 11 | GWW | Ww Grainger Inc | +0.1% | — | 減碼 |
| 12 | META | Meta Platforms Inc-class A | 0% | -15.17% | 減碼 |
| 13 | TSCO | Tractor Supply Company | 0% | -36.21% | 加碼 |
| 14 | HD | Home Depot Inc | 0% | -43.60% | 減碼 |
| 15 | DKS | Dick's Sporting Goods Inc | 0% | — | 減碼 |
| 16 | ABBV | Abbvie Inc | 0% | -9.73% | 減碼 |
| 17 | ADP | Automatic Data Processing | 0% | -21.48% | 減碼 |
| 18 | GOOGL | Alphabet Inc-cl A | 0% | -61.60% | 加碼 |
| 19 | AMZN | Amazon.com Inc | 0% | -52.64% | 加碼 |
| 20 | PG | Procter & Gamble Co/the | 0% | -12.08% | 加碼 |
| 21 | MCD | Mcdonald's CORP | 0% | -23.24% | 減碼 |
| 22 | WEC | Wec Energy Group Inc | 0% | -15.56% | 減碼 |
| 23 | MA | Mastercard Inc - A | 0% | -64.08% | 減碼 |
| 24 | CMG | Chipotle Mexican Grill Inc | 0% | -34.42% | 加碼 |
| 25 | ECL | Ecolab Inc | 0% | -40.42% | 減碼 |
| 26 | UPS | United Parcel Service-cl B | 0% | -19.72% | 減碼 |
| 27 | ABT | Abbott Laboratories | 0% | -24.88% | 減碼 |
| 28 | MS | Morgan Stanley | 0% | -35.14% | 減碼 |
| 29 | FISV | Fiserv Inc | 0% | -47.03% | 減碼 |
| 30 | JPM | Jpmorgan Chase & Co | 0% | -34.00% | 減碼 |
| 31 | PM | Philip Morris International | 0% | — | 減碼 |
| 32 | PEP | Pepsico Inc | 0% | -24.47% | 減碼 |
| 33 | SYY | Sysco CORP | 0% | -19.19% | 減碼 |
| 34 | YORW | York Water Co | 0% | — | 不變 |
| 35 | ORCL | Oracle CORP | 0% | -32.04% | 減碼 |
| 36 | TJX | Tjx Companies Inc | 0% | -10.23% | 減碼 |
| 37 | APD | Air Products & Chemicals Inc | 0% | -39.82% | 減碼 |
| 38 | BOH | Bank Of Hawaii CORP | 0% | -28.99% | 加碼 |
| 39 | ITW | Illinois Tool Works | 0% | -2.15% | 減碼 |
| 40 | PAYX | Paychex Inc | 0% | -21.20% | 減碼 |
| 41 | JNJ | Johnson & Johnson | 0% | — | 不變 |
| 42 | AAPL | Apple Inc | — | -65.68% | 減碼 |
| 43 | PODD | Insulet CORP | — | -44.02% | 減碼 |
| 44 | SCHW | Schwab (charles) CORP | — | -9.07% | 減碼 |
| 45 | SBUX | Starbucks CORP | — | -46.39% | 減碼 |
| 46 | CRM | Salesforce Inc | — | -59.54% | 減碼 |
| 47 | PWR | Quanta Services Inc | — | -3.11% | 減碼 |
| 48 | UNH | Unitedhealth Group Inc | — | -6.97% | 減碼 |
| 49 | TGT | Target CORP | — | — | 減碼 |
| 50 | ADSK | Autodesk Inc | 0% | -40.22% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Brown Capital Management LLC 在 Q1 2025 季度的美股持倉總市值約為 US$5.0億，共申報了 105 個公開持股部位。
在 Q1 2025 季度，Brown Capital Management LLC 按市值排列的前三大核心持股分別為：CYBERARK SOFTWARE LTD. CMN (6.1%)、VEEV (4.6%)、TYL (4.5%)。其中最大持股部位 CYBERARK SOFTWARE LTD. CMN 佔據整體投資組合約 6.1% 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
XMTR
市值: US$7758.5萬
本季最大獲利了結 / 清倉標的
NEOG
前期市值: US$5.7億
在 Q1 2025 季度中，Brown Capital Management LLC 共進行了 154 項持倉異動，包含新建倉 34 個部位、加碼 9 個部位、減碼 60 個部位以及清倉 51 個部位。 其中最大新建倉標的為 XMTR。 本季清倉部位包含 NEOG。
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。