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: 0001574947
申報總市值
US$45.5億
US$45.5億
60 檔
51.0%
根據最新整理的 13F 季度數據集，Comgest Global Investors S.a.s. 於 Q3 2025 結束時的管理資產規模為 US$45.5億。該機構在本季度申報了 60 檔美股持倉，呈現出該時期的主要投資地圖。
Comgest Global Investors S.a.s. 在 Q3 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 30 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 TSM, MSFT, LIN）占據了總市值的 51.0%，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
MMYT
市值: US$4382.3萬
本季最大獲利了結 / 清倉標的
ICLR
前期市值: US$2.1億
| # | 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 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 10.50% | +1.18% | -4.64% | |
| 2 | MSFT | Microsoft CORP | 股票-科技 | 9.85% | -1.46% | -2.65% | |
| 3 | LIN | Linde plc | 股票-原物料 | 7.33% | +0.26% | -1.22% | |
| 4 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 6.96% | +1.12% | -9.32% | |
| 5 | V | Visa Inc-class A Shares | 股票-金融 | 6.46% | +0.64% | -1.49% | |
| 6 | JNJ | Johnson & Johnson | 股票-醫療保健 | 5.97% | +0.05% | -12.13% | |
| 7 | AMZN | Amazon.com Inc | 股票-循環性消費 | 5.53% | +1.39% | +3.93% | |
| 8 | INTU | Intuit Inc | 股票-科技 | 5.48% | -4.48% | EXIT | |
| 9 | SPGI | S&p Global Inc | 股票-金融 | 3.91% | -1.06% | +1.38% | |
| 10 | ZTS | Zoetis Inc | 股票-醫療保健 | 3.77% | -2.80% | +2.56% | |
| 11 | LLY | Eli Lilly & Co | 股票-醫療保健 | 3.68% | +0.28% | -24.64% | |
| 12 | ADI | Analog Devices Inc | 股票-科技 | 2.82% | +0.05% | -0.31% | |
| 13 | IDXX | Idexx Laboratories Inc | 股票-醫療保健 | 2.76% | +0.34% | +0.05% | |
| 14 | ORCL | Oracle CORP | 股票-科技 | 2.64% | -1.53% | -9.42% | |
| 15 | CPRT | Copart Inc | 股票-工業 | 2.54% | -0.05% | +7.16% | |
| 16 | VRSK | Verisk Analytics Inc | 股票-工業 | 2.30% | -0.87% | -1.46% | |
| 17 | COST | Costco Wholesale CORP | 股票-非循環性消費 | 2.09% | -0.06% | -6.75% | |
| 18 | ACN | Accenture plc | 股票-科技 | 1.85% | — | -51.24% | |
| 19 | AXP | American Express Co | 股票-金融 | 1.58% | +0.48% | +615.97% | |
| 20 | MELI | Mercadolibre Inc | 股票-循環性消費 | 1.37% | -0.36% | -9.42% | |
| 21 | AAPL | Apple Inc | 股票-科技 | 1.25% | +0.18% | +2.53% | |
| 22 | VMC | Vulcan Materials Co | 股票-原物料 | 0.92% | -0.07% | +4.98% | |
| 23 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.88% | -0.07% | -7.76% | |
| 24 | NVDA | Nvidia CORP | 股票-科技 | 0.85% | +1.70% | +253.23% | |
| 25 | MMYT | MakeMyTrip Limited | 股票-其他 | 0.78% | +0.17% | +9.77% | |
| 26 | SCI | Service CORP International | 股票-循環性消費 | 0.76% | -0.25% | +6.25% | |
| 27 | SYK | Stryker CORP | 股票-醫療保健 | 0.65% | -0.13% | +16.22% | |
| 28 | CTAS | Cintas CORP | 股票-工業 | 0.57% | +1.26% | -8.74% | |
| 29 | MA | Mastercard Inc - A | 股票-金融 | 0.35% | -0.07% | +24.57% | |
| 30 | HDB | Hdfc Bank Ltd-adr | 股票-金融 | 0.33% | -0.03% | +84.96% | |
| 31 | FMX | Fomento Economico Mex-sp Adr | 股票-其他 | 0.31% | — | -39.36% | |
| 32 | FERG | Ferguson Enterprises Inc | 股票-工業 | 0.27% | -0.06% | +8.01% | |
| 33 | UBER | Uber Technologies Inc | 股票-工業 | 0.25% | -0.05% | +69.44% | |
| 34 | NFLX | Netflix Inc | 股票-通訊服務 | 0.24% | -0.20% | +10.17% | |
| 35 | AVY | Avery Dennison CORP | 股票-循環性消費 | 0.19% | — | -58.81% | |
| 36 | FAST | Fastenal Co | 股票-工業 | 0.18% | +0.05% | +1.54% | |
| 37 | YUMC | Yum China Holdings Inc | 股票-循環性消費 | 0.16% | -0.03% | +5.48% | |
| 38 | MSI | Motorola Solutions Inc | 股票-科技 | 0.16% | +0.76% | — | |
| 39 | GLOB | Globant S.A. | 股票-科技 | 0.15% | -0.11% | EXIT | |
| 40 | STVN | Stevanato Group S.p.A. | 股票-其他 | 0.15% | — | — | |
| 41 | PDD | Pdd Holdings Inc | 股票-循環性消費 | 0.13% | -0.05% | +10.92% | |
| 42 | BDX | Becton Dickinson And Co | 股票-醫療保健 | 0.13% | -0.12% | -5.82% | |
| 43 | TME | Tencent Music Entertainm-adr | 股票-通訊服務 | 0.13% | — | — | |
| 44 | MSCI | Msci Inc | 股票-金融 | 0.12% | +0.01% | — | |
| 45 | JBHT | Hunt (jb) Transprt Svcs Inc | 股票-工業 | 0.10% | — | -68.13% | |
| 46 | AON | Aon plc | 股票-金融 | 0.08% | +1.57% | — | |
| 47 | SPOT | Spotify Technology S.A. | 股票-通訊服務 | 0.07% | -0.43% | -52.15% | |
| 48 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 0.07% | +1.10% | NEW | |
| 49 | BZ | Kanzhun LTD - Adr | 股票-其他 | 0.06% | — | +209.67% | |
| 50 | WMT | Walmart Inc | 股票-非循環性消費 | 0.06% | -0.02% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor-sp Adr | +4% | -4.64% | 減碼 |
| 2 | MSFT | Microsoft CORP | +2.1% | -2.65% | 減碼 |
| 3 | GOOGL | Alphabet Inc-cl A | +2% | -9.32% | 減碼 |
| 4 | AXP | American Express Co | +1.5% | +615.97% | 加碼 |
| 5 | AMZN | Amazon.com Inc | +1% | +3.93% | 加碼 |
| 6 | IDXX | Idexx Laboratories Inc | +0.9% | +0.05% | 減碼 |
| 7 | ORCL | Oracle CORP | +0.9% | -9.42% | 減碼 |
| 8 | NVDA | Nvidia CORP | +0.7% | +253.23% | 加碼 |
| 9 | INTU | Intuit Inc | +0.5% | -0.63% | 加碼 |
| 10 | ADI | Analog Devices Inc | +0.5% | -0.31% | 減碼 |
| 11 | LIN | Linde plc | +0.3% | -1.22% | 加碼 |
| 12 | CPRT | Copart Inc | +0.3% | +7.16% | 加碼 |
| 13 | SYK | Stryker CORP | +0.2% | +16.22% | 加碼 |
| 14 | VMC | Vulcan Materials Co | +0.1% | +4.98% | 減碼 |
| 15 | META | Meta Platforms Inc-class A | +0.1% | -7.76% | 減碼 |
| 16 | MELI | Mercadolibre Inc | +0.1% | -9.42% | 減碼 |
| 17 | MA | Mastercard Inc - A | +0.1% | +24.57% | 加碼 |
| 18 | AAPL | Apple Inc | +0.1% | +2.53% | 減碼 |
| 19 | FERG | Ferguson Enterprises Inc | +0.1% | +8.01% | 加碼 |
| 20 | NFLX | Netflix Inc | +0.1% | +10.17% | 加碼 |
| 21 | TME | Tencent Music Entertainm-adr | +0.1% | — | 加碼 |
| 22 | PDD | Pdd Holdings Inc | 0% | +10.92% | 加碼 |
| 23 | BDX | Becton Dickinson And Co | 0% | -5.82% | 減碼 |
| 24 | HDB | Hdfc Bank Ltd-adr | -0.1% | +84.96% | 加碼 |
| 25 | CTAS | Cintas CORP | -0.1% | -8.74% | 減碼 |
| 26 | ISRG | Intuitive Surgical Inc | -0.1% | -43.57% | 減碼 |
| 27 | SPOT | Spotify Technology S.A. | -0.1% | -52.15% | 減碼 |
| 28 | GLOB | Globant S.A. | -0.2% | -16.36% | 減碼 |
| 29 | COST | Costco Wholesale CORP | -0.3% | -6.75% | 減碼 |
| 30 | ZTS | Zoetis Inc | -0.3% | +2.56% | 加碼 |
| 31 | INFY | Infosys Ltd-sp Adr | -0.4% | -37.45% | 減碼 |
| 32 | V | Visa Inc-class A Shares | -0.4% | -1.49% | 減碼 |
| 33 | FMX | Fomento Economico Mex-sp Adr | -0.4% | -39.36% | 減碼 |
| 34 | JNJ | Johnson & Johnson | -0.4% | -12.13% | 減碼 |
| 35 | AVY | Avery Dennison CORP | -0.5% | -58.81% | 減碼 |
| 36 | JBHT | Hunt (jb) Transprt Svcs Inc | -0.5% | -68.13% | 減碼 |
| 37 | VRSK | Verisk Analytics Inc | -0.5% | -1.46% | 減碼 |
| 38 | SPGI | S&p Global Inc | -0.6% | +1.38% | 減碼 |
| 39 | LLY | Eli Lilly & Co | -2.9% | -24.64% | 減碼 |
| 40 | ACN | Accenture plc | -4.8% | -51.24% | 減碼 |
| 41 | ICLR | ICON Public Limited Company | — | EXIT | 清倉 |
| 42 | MMYT | MakeMyTrip Limited | — | NEW | 新建倉 |
| 43 | OTIS | Otis Worldwide CORP | — | EXIT | 清倉 |
| 44 | UBER | Uber Technologies Inc | — | NEW | 新建倉 |
| 45 | KSPI | Jsc Kaspi.kz Adr | — | EXIT | 清倉 |
| 46 | MSI | Motorola Solutions Inc | — | NEW | 新建倉 |
| 47 | MSCI | Msci Inc | — | NEW | 新建倉 |
| 48 | AON | Aon plc | — | NEW | 新建倉 |
| 49 | BZ | Kanzhun LTD - Adr | — | NEW | 新建倉 |
| 50 | VIPS | Vipshop Holdings LTD - Adr | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Comgest Global Investors S.a.s. 在 Q3 2025 季度的美股持倉總市值約為 US$45.5億，共申報了 60 個公開持股部位。
在 Q3 2025 季度，Comgest Global Investors S.a.s. 按市值排列的前三大核心持股分別為：TSM (10.5%)、MSFT (9.8%)、LIN (7.3%)。其中最大持股部位 TSM 佔據整體投資組合約 10.5% 的權重。
在 Q3 2025 季度中，Comgest Global Investors S.a.s. 共進行了 50 項持倉異動，包含新建倉 6 個部位、加碼 14 個部位、減碼 26 個部位以及清倉 4 個部位。 其中最大新建倉標的為 MMYT。 本季清倉部位包含 ICLR。
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。