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: 0001636948
申報總市值
US$31.7億
US$31.7億
128 檔
23.9%
根據最新整理的 13F 季度數據集，Covea Finance 於 Q4 2025 結束時的管理資產規模為 US$31.7億。該機構在本季度申報了 128 檔美股持倉，呈現出該時期的主要投資地圖。
觀察 Q4 2025 的申報異動，Covea Finance 採取了強勁的買進策略，建倉與加碼動作（合計 30 筆）涵蓋多個核心板塊，展現機構對特定產業前景之樂觀態度。
檢視投資組合結構，前 5 大主力部位（包含 MSFT, AAPL, GOOGL）占據了總市值的 23.9%，展現出該機構在 Q4 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 | MSFT | Microsoft CORP | 股票-科技 | 6.81% | -2.40% | +9.76% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 5.29% | +0.08% | -10.12% | |
| 3 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 4.75% | +1.24% | -1.26% | |
| 4 | NVDA | Nvidia CORP | 股票-科技 | 4.21% | -0.20% | +4.96% | |
| 5 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.81% | -0.55% | +50.24% | |
| 6 | AVGO | Broadcom Inc | 股票-科技 | 2.67% | — | +46.32% | |
| 7 | CCJ | Cameco CORP | 股票-能源 | 2.25% | -0.21% | -9.04% | |
| 8 | WMT | Walmart Inc | 股票-非循環性消費 | 2.16% | -0.36% | +1.10% | |
| 9 | V | Visa Inc-class A Shares | 股票-金融 | 2.08% | +0.33% | — | |
| 10 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.84% | -0.37% | — | |
| 11 | WM | Waste Management Inc | 股票-工業 | 1.79% | -0.10% | +6.10% | |
| 12 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 1.62% | -0.25% | +2.48% | |
| 13 | HWM | Howmet Aerospace Inc | 股票-工業 | 1.56% | +0.09% | +5.23% | |
| 14 | ABT | Abbott Laboratories | 股票-醫療保健 | 1.52% | -1.07% | +3.91% | |
| 15 | MSI | Motorola Solutions Inc | 股票-科技 | 1.52% | -1.05% | +7.92% | |
| 16 | EMR | Emerson Electric Co | 股票-工業 | 1.44% | +0.13% | +5.44% | |
| 17 | FNV | Franco-nevada CORP | 股票-原物料 | 1.43% | -0.43% | -13.61% | |
| 18 | NFLX | Netflix Inc | 股票-通訊服務 | 1.41% | -0.54% | +947.28% | |
| 19 | DIS | Walt Disney Co/the | 股票-通訊服務 | 1.33% | -0.26% | — | |
| 20 | GEV | GE Vernova Inc | 股票-工業 | 1.33% | -0.02% | — | |
| 21 | AXP | American Express Co | 股票-金融 | 1.32% | +0.06% | +23.71% | |
| 22 | BAC | Bank Of America CORP | 股票-金融 | 1.31% | +0.09% | -4.87% | |
| 23 | TJX | Tjx Companies Inc | 股票-循環性消費 | 1.22% | -0.19% | -14.25% | |
| 24 | CEG | Constellation Energy | 股票-公用事業 | 1.19% | -0.17% | +144.92% | |
| 25 | NOW | Servicenow Inc | 股票-科技 | 1.18% | -0.71% | EXIT | |
| 26 | EVR | Evercore Inc - A | 股票-金融 | 1.16% | +0.01% | +89.60% | |
| 27 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.10% | +0.42% | -22.71% | |
| 28 | MAR | Marriott International -cl A | 股票-循環性消費 | 1.09% | -0.05% | -5.65% | |
| 29 | MSCI | Msci Inc | 股票-金融 | 1.07% | — | +6.11% | |
| 30 | XYL | Xylem Inc | 股票-工業 | 1.06% | -0.32% | +1.99% | |
| 31 | PANW | Palo Alto Networks Inc | 股票-科技 | 1.04% | +0.48% | +3.55% | |
| 32 | ADI | Analog Devices Inc | 股票-科技 | 1.00% | +0.03% | +174.26% | |
| 33 | NUE | Nucor CORP | 股票-原物料 | 0.94% | — | +86.09% | |
| 34 | HUBB | Hubbell Inc | 股票-工業 | 0.93% | — | -11.37% | |
| 35 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.91% | -0.06% | -8.59% | |
| 36 | PH | Parker Hannifin CORP | 股票-工業 | 0.89% | -0.01% | — | |
| 37 | TDY | Teledyne Technologies Inc | 股票-科技 | 0.87% | +0.34% | +7.46% | |
| 38 | LOW | Lowe's Cos Inc | 股票-循環性消費 | 0.87% | -0.63% | — | |
| 39 | MKC | Mccormick & Co-non Vtg Shrs | 股票-非循環性消費 | 0.85% | -0.48% | +6.69% | |
| 40 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.81% | — | -26.58% | |
| 41 | ENB | Enbridge Inc | 股票-能源 | 0.80% | -0.04% | — | |
| 42 | BWXT | Bwx Technologies Inc | 股票-工業 | 0.80% | -0.11% | -1.48% | |
| 43 | ROK | Rockwell Automation Inc | 股票-工業 | 0.79% | +0.18% | -6.94% | |
| 44 | NKE | Nike Inc -cl B | 股票-循環性消費 | 0.78% | -0.06% | — | |
| 45 | MS | Morgan Stanley | 股票-金融 | 0.76% | +0.11% | +30.14% | |
| 46 | LNG | Cheniere Energy Inc | 股票-能源 | 0.74% | +0.39% | +3.68% | |
| 47 | DHR | Danaher CORP | 股票-醫療保健 | 0.72% | -0.38% | +94.81% | |
| 48 | APH | Amphenol Corp-cl A | 股票-科技 | 0.71% | +0.11% | — | |
| 49 | CW | Curtiss-wright CORP | 股票-工業 | 0.66% | -0.05% | -11.68% | |
| 50 | ROL | Rollins Inc | 股票-循環性消費 | 0.61% | -0.15% | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc | +1.3% | +50.24% | 加碼 |
| 2 | AVGO | Broadcom Inc | +0.8% | +46.32% | 加碼 |
| 3 | GOOGL | Alphabet Inc-cl A | +0.8% | -1.26% | 減碼 |
| 4 | CEG | Constellation Energy | +0.7% | +144.92% | 加碼 |
| 5 | ADI | Analog Devices Inc | +0.7% | +174.26% | 加碼 |
| 6 | EVR | Evercore Inc - A | +0.5% | +89.60% | 加碼 |
| 7 | NUE | Nucor CORP | +0.5% | +86.09% | 加碼 |
| 8 | DHR | Danaher CORP | +0.4% | +94.81% | 加碼 |
| 9 | AXP | American Express Co | +0.3% | +23.71% | 加碼 |
| 10 | ISRG | Intuitive Surgical Inc | +0.3% | +2.48% | 加碼 |
| 11 | BKR | Baker Hughes Co | +0.3% | +128.21% | 加碼 |
| 12 | TMO | Thermo Fisher Scientific Inc | +0.2% | — | 不變 |
| 13 | MS | Morgan Stanley | +0.2% | +30.14% | 加碼 |
| 14 | TRGP | Targa Resources CORP | +0.1% | +29.85% | 加碼 |
| 15 | PNC | Pnc Financial Services Group | +0.1% | +51.88% | 加碼 |
| 16 | IFF | Intl Flavors & Fragrances | +0.1% | +17.42% | 加碼 |
| 17 | PH | Parker Hannifin CORP | +0.1% | — | 不變 |
| 18 | TSCO | Tractor Supply Company | +0.1% | +48.29% | 加碼 |
| 19 | WMT | Walmart Inc | +0.1% | +1.10% | 加碼 |
| 20 | HWM | Howmet Aerospace Inc | +0.1% | +5.23% | 加碼 |
| 21 | MAR | Marriott International -cl A | +0.1% | -5.65% | 減碼 |
| 22 | WM | Waste Management Inc | 0% | +6.10% | 加碼 |
| 23 | NVDA | Nvidia CORP | 0% | +4.96% | 加碼 |
| 24 | CLH | Clean Harbors Inc | -0.2% | -23.49% | 減碼 |
| 25 | LNG | Cheniere Energy Inc | -0.2% | +3.68% | 加碼 |
| 26 | WAB | Wabtec CORP | -0.2% | -28.64% | 減碼 |
| 27 | TJX | Tjx Companies Inc | -0.2% | -14.25% | 減碼 |
| 28 | MSFT | Microsoft CORP | -0.2% | +9.76% | 加碼 |
| 29 | MSI | Motorola Solutions Inc | -0.3% | +7.92% | 加碼 |
| 30 | AWK | American Water Works Co Inc | -0.3% | -25.03% | 減碼 |
| 31 | JPM | Jpmorgan Chase & Co | -0.3% | -26.58% | 減碼 |
| 32 | NOW | Servicenow Inc | -0.4% | +379.43% | 加碼 |
| 33 | NFLX | Netflix Inc | -0.4% | +947.28% | 加碼 |
| 34 | FNV | Franco-nevada CORP | -0.4% | -13.61% | 減碼 |
| 35 | AAPL | Apple Inc | -0.5% | -10.12% | 減碼 |
| 36 | ADBE | Adobe Inc | -0.7% | -64.62% | 減碼 |
| 37 | TXN | Texas Instruments Inc | -0.8% | -67.07% | 減碼 |
| 38 | COST | Costco Wholesale CORP | -0.9% | -63.47% | 減碼 |
| 39 | ZTS | Zoetis Inc | -1.1% | -75.74% | 減碼 |
| 40 | GEV | GE Vernova Inc | — | NEW | 新建倉 |
| 41 | SOLS | Solstice Adv Materials Inc | — | NEW | 新建倉 |
| 42 | JEF | Jefferies Financial Group In | — | EXIT | 清倉 |
| 43 | GILD | Gilead Sciences Inc | — | EXIT | 清倉 |
| 44 | CSCO | Cisco Systems Inc | — | NEW | 新建倉 |
| 45 | RGEN | Repligen CORP | — | NEW | 新建倉 |
| 46 | MP | Mp Materials CORP | — | NEW | 新建倉 |
| 47 | SMPL | Simply Good Foods Co/the | — | EXIT | 清倉 |
| 48 | KEX | Kirby CORP | — | EXIT | 清倉 |
| 49 | NTR | Nutrien LTD | — | EXIT | 清倉 |
| 50 | MOG-A | Moog Inc-class A | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Covea Finance 在 Q4 2025 季度的美股持倉總市值約為 US$31.7億，共申報了 128 個公開持股部位。
在 Q4 2025 季度，Covea Finance 按市值排列的前三大核心持股分別為：MSFT (6.8%)、AAPL (5.3%)、GOOGL (4.8%)。其中最大持股部位 MSFT 佔據整體投資組合約 6.8% 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
GEV
市值: US$4024.0萬
本季最大獲利了結 / 清倉標的
JEF
前期市值: US$1148.8萬
在 Q4 2025 季度中，Covea Finance 共進行了 48 項持倉異動，包含新建倉 6 個部位、加碼 24 個部位、減碼 13 個部位以及清倉 5 個部位。 其中最大新建倉標的為 GEV。 本季清倉部位包含 JEF。
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。