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
56 檔
44.7%
在 Q1 2026 申報期間，Brown Capital Management LLC（CIK: 0000885062）向美國 SEC 提交的 Form 13F 報告顯示，其追蹤之股票投資組合總市值達 US$5.0億，共持有 56 個公開申報部位。
從 Q1 2026 申報觀察，Brown Capital Management LLC 採取防禦導向的調倉策略，本季減碼 47 檔個股並出清 4 檔部位，顯示機構在該時期進行風險控制與流動性回收。
在資產配置集中度方面，Brown Capital Management LLC 的前 5 大核心持股（包含 CAMT, GLBE, CLBT 等）合計佔整體申報市值的 44.7%，反映機構在主要關鍵部位上的權重分佈。
| # | 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 | CAMT | Camtek Ltd. | 股票-其他 | 13.35% | -7.51% | -42.32% | |
| 2 | GLBE | Global-E Online Ltd. | 股票-其他 | 6.13% | -1.37% | -41.83% | |
| 3 | CLBT | Cellebrite DI Ltd. | 股票-其他 | 5.29% | -1.96% | — | |
| 4 | GKOS | Glaukos CORP | 股票-醫療保健 | 3.52% | +1.17% | -29.56% | |
| 5 | MELI | Mercadolibre Inc | 股票-循環性消費 | 3.48% | -3.48% | EXIT | |
| 6 | SHOP | Shopify Inc - Class A | 股票-科技 | 3.40% | -3.40% | EXIT | |
| 7 | DDOG | Datadog Inc - Class A | 股票-科技 | 2.96% | +2.13% | -27.75% | |
| 8 | CGNX | Cognex CORP | 股票-科技 | 2.89% | +2.21% | -35.01% | |
| 9 | VEEV | Veeva Systems Inc-class A | 股票-醫療保健 | 2.87% | +0.66% | -28.25% | |
| 10 | RGEN | Repligen CORP | 股票-醫療保健 | 2.85% | +0.99% | -37.95% | |
| 11 | GWRE | Guidewire Software Inc | 股票-科技 | 2.78% | +0.51% | -28.68% | |
| 12 | VCEL | Vericel CORP | 股票-其他 | 2.71% | +1.77% | -28.77% | |
| 13 | TYL | Tyler Technologies Inc | 股票-科技 | 2.57% | -0.35% | -28.54% | |
| 14 | MANH | Manhattan Associates Inc | 股票-科技 | 2.53% | +0.70% | -28.55% | |
| 15 | ICLR | ICON Public Limited Company | 股票-醫療保健 | 2.48% | -2.48% | EXIT | |
| 16 | XMTR | Xometry Inc-a | 股票-其他 | 2.44% | +2.56% | -39.73% | |
| 17 | APPF | Appfolio Inc - A | 股票-科技 | 2.42% | +0.77% | -28.92% | |
| 18 | TECH | Bio-techne CORP | 股票-醫療保健 | 2.30% | +0.49% | -28.94% | |
| 19 | ALRM | Alarm.com Holdings Inc | 股票-其他 | 2.20% | -1.07% | -28.84% | |
| 20 | CWAN | Clearwater Analytics Holdings, Inc. | 股票-科技 | 1.87% | -1.87% | EXIT | |
| 21 | PAYC | Paycom Software Inc | 股票-科技 | 1.80% | -0.45% | -28.41% | |
| 22 | QTWO | Q2 Holdings Inc | 股票-科技 | 1.70% | +0.40% | -28.90% | |
| 23 | UFPT | Ufp Technologies Inc | 股票-其他 | 1.62% | +1.07% | -29.72% | |
| 24 | FLUT | Flutter Entertainment plc | 股票-循環性消費 | 1.61% | -1.61% | EXIT | |
| 25 | BMI | Badger Meter Inc | 股票-科技 | 1.56% | +0.29% | -28.96% | |
| 26 | AGYS | Agilysys Inc | 股票-其他 | 1.55% | +1.21% | -28.65% | |
| 27 | TMDX | Transmedics Group Inc | 股票-醫療保健 | 1.38% | -0.19% | -32.87% | |
| 28 | TEAM | Atlassian Corp-cl A | 股票-科技 | 1.27% | -1.27% | EXIT | |
| 29 | WK | Workiva Inc | 股票-科技 | 1.26% | -0.01% | -28.54% | |
| 30 | AXGN | Axogen Inc | 股票-其他 | 1.22% | +0.86% | -25.68% | |
| 31 | NCNO | Ncino Inc | 股票-其他 | 1.13% | +0.08% | -28.36% | |
| 32 | CTKB | Cytek Biosciences Inc | 股票-其他 | 0.92% | -0.92% | EXIT | |
| 33 | CYRX | Cryoport Inc | 股票-其他 | 0.92% | +1.18% | -29.85% | |
| 34 | DV | Doubleverify Holdings Inc | 股票-其他 | 0.79% | -0.79% | EXIT | |
| 35 | MAMA | Mama's Creations Inc | 股票-其他 | 0.79% | +0.38% | -23.06% | |
| 36 | ERII | Energy Recovery Inc | 股票-其他 | 0.77% | -0.26% | -29.65% | |
| 37 | VERX | Vertex Inc - Class A | 股票-其他 | 0.73% | +0.13% | -28.80% | |
| 38 | KIDS | Orthopediatrics CORP | 股票-其他 | 0.70% | -0.11% | -39.59% | |
| 39 | RDVT | Red Violet Inc | 股票-其他 | 0.67% | +0.82% | -22.71% | |
| 40 | CHKP | Check Point Software Technologies Ltd. | 股票-科技 | 0.65% | -0.65% | EXIT | |
| 41 | INSP | Inspire Medical Systems Inc | 股票-醫療保健 | 0.62% | -0.23% | -29.66% | |
| 42 | LOAR | Loar Holdings Inc | 股票-其他 | 0.60% | +0.77% | -23.59% | |
| 43 | SPSC | Sps Commerce Inc | 股票-科技 | 0.57% | -0.13% | -28.75% | |
| 44 | CORT | Corcept Therapeutics Inc | 股票-醫療保健 | 0.54% | +0.92% | -32.20% | |
| 45 | DUOL | Duolingo | 股票-科技 | 0.49% | +0.21% | -29.23% | |
| 46 | VCYT | Veracyte Inc | 股票-其他 | 0.49% | +0.64% | -5.55% | |
| 47 | PDFS | Pdf Solutions Inc | 股票-其他 | 0.48% | +0.97% | -16.63% | |
| 48 | INTA | Intapp Inc | 股票-其他 | 0.41% | +0.09% | -23.70% | |
| 49 | KRYS | Krystal Biotech Inc | 股票-醫療保健 | 0.34% | +0.48% | — | |
| 50 | XPEL | Xpel Inc | 股票-其他 | 0.32% | +0.46% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CAMT | Camtek Ltd. | +4% | -42.32% | 減碼 |
| 2 | CGNX | Cognex CORP | +1% | -35.01% | 減碼 |
| 3 | MELI | Mercadolibre Inc | +0.6% | -17.58% | 減碼 |
| 4 | ICLR | ICON Public Limited Company | +0.6% | +26.78% | 加碼 |
| 5 | GKOS | Glaukos CORP | +0.5% | -29.56% | 減碼 |
| 6 | AXGN | Axogen Inc | +0.3% | -25.68% | 減碼 |
| 7 | MAMA | Mama's Creations Inc | +0.3% | -23.06% | 減碼 |
| 8 | TEAM | Atlassian Corp-cl A | +0.3% | +72.12% | 加碼 |
| 9 | VCEL | Vericel CORP | +0.3% | -28.77% | 減碼 |
| 10 | DDOG | Datadog Inc - Class A | +0.2% | -27.75% | 減碼 |
| 11 | TECH | Bio-techne CORP | +0.2% | -28.94% | 減碼 |
| 12 | PDFS | Pdf Solutions Inc | +0.2% | -16.63% | 減碼 |
| 13 | CORT | Corcept Therapeutics Inc | +0.2% | -32.20% | 減碼 |
| 14 | SHOP | Shopify Inc - Class A | +0.1% | -18.69% | 減碼 |
| 15 | BMI | Badger Meter Inc | +0.1% | -28.96% | 減碼 |
| 16 | UFPT | Ufp Technologies Inc | +0.1% | -29.72% | 減碼 |
| 17 | VCYT | Veracyte Inc | +0.1% | -5.55% | 減碼 |
| 18 | ALRM | Alarm.com Holdings Inc | +0.1% | -28.84% | 減碼 |
| 19 | CTKB | Cytek Biosciences Inc | +0.1% | -28.58% | 減碼 |
| 20 | LOAR | Loar Holdings Inc | +0.1% | -23.59% | 減碼 |
| 21 | CYRX | Cryoport Inc | 0% | -29.85% | 減碼 |
| 22 | DV | Doubleverify Holdings Inc | 0% | -28.31% | 減碼 |
| 23 | GOOGL | Alphabet Inc-cl A | 0% | — | 不變 |
| 24 | AAPL | Apple Inc | 0% | — | 不變 |
| 25 | AVPT | Avepoint Inc | — | -15.32% | 減碼 |
| 26 | KIDS | Orthopediatrics CORP | -0.1% | -39.59% | 減碼 |
| 27 | VEEV | Veeva Systems Inc-class A | -0.1% | -28.25% | 減碼 |
| 28 | TMDX | Transmedics Group Inc | -0.1% | -32.87% | 減碼 |
| 29 | ERII | Energy Recovery Inc | -0.1% | -29.65% | 減碼 |
| 30 | CHKP | Check Point Software Technologies Ltd. | -0.1% | -32.58% | 減碼 |
| 31 | RXST | Rxsight Inc | -0.1% | -30.42% | 減碼 |
| 32 | PAYC | Paycom Software Inc | -0.1% | -28.41% | 減碼 |
| 33 | MANH | Manhattan Associates Inc | -0.1% | -28.55% | 減碼 |
| 34 | RDVT | Red Violet Inc | -0.2% | -22.71% | 減碼 |
| 35 | INTA | Intapp Inc | -0.2% | -23.70% | 減碼 |
| 36 | SPSC | Sps Commerce Inc | -0.2% | -28.75% | 減碼 |
| 37 | TYL | Tyler Technologies Inc | -0.2% | -28.54% | 減碼 |
| 38 | WK | Workiva Inc | -0.2% | -28.54% | 減碼 |
| 39 | DUOL | Duolingo | -0.2% | -29.23% | 減碼 |
| 40 | GWRE | Guidewire Software Inc | -0.3% | -28.68% | 減碼 |
| 41 | VERX | Vertex Inc - Class A | -0.3% | -28.80% | 減碼 |
| 42 | INSP | Inspire Medical Systems Inc | -0.3% | -29.66% | 減碼 |
| 43 | QTWO | Q2 Holdings Inc | -0.4% | -28.90% | 減碼 |
| 44 | NCNO | Ncino Inc | -0.4% | -28.36% | 減碼 |
| 45 | APPF | Appfolio Inc - A | -0.5% | -28.92% | 減碼 |
| 46 | AGYS | Agilysys Inc | -0.6% | -28.65% | 減碼 |
| 47 | CWAN | Clearwater Analytics Holdings, Inc. | -0.6% | -56.13% | 減碼 |
| 48 | FLUT | Flutter Entertainment plc | -0.7% | -15.92% | 減碼 |
| 49 | RGEN | Repligen CORP | -0.8% | -37.95% | 減碼 |
| 50 | XMTR | Xometry Inc-a | -1% | -39.73% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，Brown Capital Management LLC 在 Q1 2026 季度的美股持倉總市值約為 US$5.0億，共申報了 56 個公開持股部位。
在 Q1 2026 季度，Brown Capital Management LLC 按市值排列的前三大核心持股分別為：CAMT (13.3%)、GLBE (6.1%)、CLBT (5.3%)。其中最大持股部位 CAMT 佔據整體投資組合約 13.3% 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
CLBT
市值: US$3723.9萬
本季最大獲利了結 / 清倉標的
CYBERARK SOFTWARE LTD. CMN
前期市值: US$6804.2萬
在 Q1 2026 季度中，Brown Capital Management LLC 共進行了 58 項持倉異動，包含新建倉 5 個部位、加碼 2 個部位、減碼 47 個部位以及清倉 4 個部位。 其中最大新建倉標的為 CLBT。 本季清倉部位包含 CYBERARK SOFTWARE LTD. CMN。
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。