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: 0001742418
申報總市值
US$13.8億
US$13.8億
50 檔
30.0%
根據最新整理的 13F 季度數據集，Dundas Partners LLP 於 Q3 2025 結束時的管理資產規模為 US$13.8億。該機構在本季度申報了 50 檔美股持倉，呈現出該時期的主要投資地圖。
觀察 Q3 2025 的申報異動，Dundas Partners LLP 採取了強勁的買進策略，建倉與加碼動作（合計 33 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, WRB, TSM）占據了總市值的 30.0%，展現出該機構在 Q3 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 | 6.82% | -0.70% | — | |
| 2 | WRB | Wr Berkley CORP | 股票-金融 | 6.39% | -0.07% | +5.19% | |
| 3 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 5.57% | +1.75% | — | |
| 4 | APH | Amphenol Corp-cl A | 股票-科技 | 5.30% | +0.98% | -1.82% | |
| 5 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 5.19% | +0.59% | — | |
| 6 | AXP | American Express Co | 股票-金融 | 4.44% | -0.06% | +8.45% | |
| 7 | V | Visa Inc-class A Shares | 股票-金融 | 4.37% | +0.37% | +3.69% | |
| 8 | BRO | Brown & Brown Inc | 股票-金融 | 4.19% | -0.60% | +25.92% | |
| 9 | ABT | Abbott Laboratories | 股票-醫療保健 | 4.19% | -0.69% | +19.16% | |
| 10 | AMAT | Applied Materials Inc | 股票-科技 | 4.02% | +6.04% | +147.50% | |
| 11 | ADI | Analog Devices Inc | 股票-科技 | 3.59% | +0.47% | +4.43% | |
| 12 | RMD | Resmed Inc | 股票-醫療保健 | 3.38% | -0.77% | +15.07% | |
| 13 | NDAQ | Nasdaq Inc | 股票-金融 | 3.31% | -0.55% | +5.90% | |
| 14 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 3.26% | -0.29% | +2.19% | |
| 15 | BKNG | Booking Holdings Inc | 股票-循環性消費 | 3.22% | +0.08% | +16.34% | |
| 16 | ZTS | Zoetis Inc | 股票-醫療保健 | 3.21% | -1.97% | +57.11% | |
| 17 | ADP | Automatic Data Processing | 股票-科技 | 3.14% | — | +19521.35% | |
| 18 | ROST | Ross Stores Inc | 股票-循環性消費 | 2.91% | -0.44% | -3.17% | |
| 19 | SYK | Stryker CORP | 股票-醫療保健 | 2.58% | -0.33% | +9.03% | |
| 20 | ACN | Accenture plc | 股票-科技 | 2.54% | -1.81% | EXIT | |
| 21 | EFX | Equifax Inc | 股票-工業 | 2.40% | -1.04% | — | |
| 22 | AME | Ametek Inc | 股票-工業 | 2.29% | +0.07% | — | |
| 23 | INTU | Intuit Inc | 股票-科技 | 2.11% | -0.67% | +18.63% | |
| 24 | HDB | Hdfc Bank Ltd-adr | 股票-金融 | 2.08% | -0.14% | +94.89% | |
| 25 | ALC | Alcon Inc. | 股票-醫療保健 | 2.06% | -0.26% | — | |
| 26 | MA | Mastercard Inc - A | 股票-金融 | 1.79% | +0.20% | — | |
| 27 | MSCI | Msci Inc | 股票-金融 | 1.51% | -1.56% | EXIT | |
| 28 | GWW | Ww Grainger Inc | 股票-工業 | 1.43% | +0.23% | -71.24% | |
| 29 | CRM | Salesforce Inc | 股票-科技 | 1.42% | -0.21% | — | |
| 30 | RBA | Rb Global Inc | 股票-工業 | 0.72% | -0.05% | -1.66% | |
| 31 | RYAN | Ryan Specialty Holdings Inc | 股票-金融 | 0.05% | -0.01% | EXIT | |
| 32 | WTS | Watts Water Technologies-a | 股票-工業 | 0.04% | -0.03% | EXIT | |
| 33 | PAYC | Paycom Software Inc | 股票-科技 | 0.04% | -0.01% | EXIT | |
| 34 | IDCC 3.5 06-01-27債券 | Interdigital Inc | 債券 | 0.04% | -0.01% | EXIT | |
| 35 | TECH | Bio-techne CORP | 股票-醫療保健 | 0.04% | -0.03% | EXIT | |
| 36 | AIT | Applied Industrial Tech Inc | 股票-工業 | 0.04% | -0.04% | EXIT | |
| 37 | JKHY | Jack Henry & Associates Inc | 股票-科技 | 0.04% | -0.04% | EXIT | |
| 38 | ESAB | Esab CORP | 股票-工業 | 0.03% | -0.03% | EXIT | |
| 39 | MKTX | Marketaxess Holdings Inc | 股票-金融 | 0.03% | -0.02% | EXIT | |
| 40 | SF | Stifel Financial CORP | 股票-金融 | 0.03% | -0.03% | EXIT | |
| 41 | HLNE | Hamilton Lane Inc-class A | 股票-金融 | 0.02% | -0.02% | EXIT | |
| 42 | TRU | Transunion | 股票-金融 | 0.02% | -0.01% | EXIT | |
| 43 | NVT | nVent Electric plc | 股票-工業 | 0.02% | -0.04% | EXIT | |
| 44 | CR | Crane Co | 股票-工業 | 0.02% | -0.03% | EXIT | |
| 45 | RLI | Rli CORP | 股票-金融 | 0.02% | -0.01% | EXIT | |
| 46 | EVR | Evercore Inc - A | 股票-金融 | 0.02% | -0.02% | EXIT | |
| 47 | LFUS | Littelfuse Inc | 股票-科技 | 0.02% | -0.04% | EXIT | |
| 48 | LMAT | Lemaitre Vascular Inc | 股票-其他 | 0.02% | -0.02% | EXIT | |
| 49 | GGG | Graco Inc | 股票-工業 | 0.01% | — | — | |
| 50 | BMI | Badger Meter Inc | 股票-科技 | 0.01% | -0.01% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | APH | Amphenol Corp-cl A | +2.3% | -1.82% | 減碼 |
| 2 | TSM | Taiwan Semiconductor-sp Adr | +2% | — | 減碼 |
| 3 | GOOG | Alphabet Inc-cl C | +1.7% | — | 不變 |
| 4 | MSFT | Microsoft CORP | +1.7% | — | 不變 |
| 5 | AMAT | Applied Materials Inc | +1.2% | +147.50% | 加碼 |
| 6 | AXP | American Express Co | +1% | +8.45% | 加碼 |
| 7 | RMD | Resmed Inc | +0.9% | +15.07% | 加碼 |
| 8 | ABT | Abbott Laboratories | +0.8% | +19.16% | 加碼 |
| 9 | ZTS | Zoetis Inc | +0.8% | +57.11% | 加碼 |
| 10 | BKNG | Booking Holdings Inc | +0.8% | +16.34% | 加碼 |
| 11 | ADI | Analog Devices Inc | +0.7% | +4.43% | 加碼 |
| 12 | ADP | Automatic Data Processing | +0.6% | +19521.35% | 加碼 |
| 13 | NDAQ | Nasdaq Inc | +0.5% | +5.90% | 加碼 |
| 14 | TMO | Thermo Fisher Scientific Inc | +0.5% | +2.19% | 加碼 |
| 15 | WRB | Wr Berkley CORP | +0.5% | +5.19% | 加碼 |
| 16 | AME | Ametek Inc | +0.5% | — | 加碼 |
| 17 | INTU | Intuit Inc | +0.4% | +18.63% | 加碼 |
| 18 | ROST | Ross Stores Inc | +0.3% | -3.17% | 減碼 |
| 19 | HDB | Hdfc Bank Ltd-adr | +0.2% | +94.89% | 加碼 |
| 20 | SYK | Stryker CORP | +0.1% | +9.03% | 加碼 |
| 21 | RBA | Rb Global Inc | 0% | -1.66% | 加碼 |
| 22 | EFX | Equifax Inc | 0% | — | 不變 |
| 23 | IDCC 3.5 06-01-27債券 | Interdigital Inc | 0% | — | 減碼 |
| 24 | AIT | Applied Industrial Tech Inc | 0% | -99.21% | 加碼 |
| 25 | MA | Mastercard Inc - A | — | — | 不變 |
| 26 | WTS | Watts Water Technologies-a | — | — | 減碼 |
| 27 | PAYC | Paycom Software Inc | — | +9.14% | 加碼 |
| 28 | LFUS | Littelfuse Inc | — | +26.11% | 減碼 |
| 29 | MKTX | Marketaxess Holdings Inc | 0% | — | 減碼 |
| 30 | BMI | Badger Meter Inc | 0% | -90.85% | 減碼 |
| 31 | RYAN | Ryan Specialty Holdings Inc | 0% | +14.93% | 加碼 |
| 32 | ESAB | Esab CORP | 0% | +8.75% | 加碼 |
| 33 | TRU | Transunion | 0% | +19.41% | 減碼 |
| 34 | GGG | Graco Inc | 0% | — | 減碼 |
| 35 | MSCI | Msci Inc | -0.1% | — | 不變 |
| 36 | V | Visa Inc-class A Shares | -0.2% | +3.69% | 加碼 |
| 37 | ACN | Accenture plc | -0.4% | +15.23% | 加碼 |
| 38 | BRO | Brown & Brown Inc | -0.4% | +25.92% | 加碼 |
| 39 | ALC | Alcon Inc. | -0.8% | — | 減碼 |
| 40 | GWW | Ww Grainger Inc | -3.9% | -71.24% | 減碼 |
| 41 | MRSH | Marsh & Mclennan Cos | — | EXIT | 清倉 |
| 42 | FDS | Factset Research Systems Inc | — | EXIT | 清倉 |
| 43 | AAPL | Apple Inc | — | EXIT | 清倉 |
| 44 | HD | Home Depot Inc | — | EXIT | 清倉 |
| 45 | NDSN | Nordson CORP | — | EXIT | 清倉 |
| 46 | COST | Costco Wholesale CORP | — | EXIT | 清倉 |
| 47 | CRM | Salesforce Inc | — | NEW | 新建倉 |
| 48 | TECH | Bio-techne CORP | — | NEW | 新建倉 |
| 49 | JKHY | Jack Henry & Associates Inc | — | NEW | 新建倉 |
| 50 | MORN | Morningstar Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Dundas Partners LLP 在 Q3 2025 季度的美股持倉總市值約為 US$13.8億，共申報了 50 個公開持股部位。
在 Q3 2025 季度，Dundas Partners LLP 按市值排列的前三大核心持股分別為：MSFT (6.8%)、WRB (6.4%)、TSM (5.6%)。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
CRM
市值: US$2018.1萬
本季最大獲利了結 / 清倉標的
MRSH
前期市值: US$4575.4萬
在 Q3 2025 季度中，Dundas Partners LLP 共進行了 54 項持倉異動，包含新建倉 10 個部位、加碼 23 個部位、減碼 12 個部位以及清倉 9 個部位。 其中最大新建倉標的為 CRM。 本季清倉部位包含 MRSH。
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。