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: 0002043130
申報總市值
US$2.5億
US$2.5億
141 檔
17.6%
Q4 2025 季度申報顯示，Generali Investments Towarzystwo Funduszy Inwestycyjnych 揭露的美股組合總市值為 US$2.5億，涵蓋 141 個不同之權益投資部位。
在 Q4 2025，Generali Investments Towarzystwo Funduszy Inwestycyjnych 操作展現出積極擴展與加碼意向。本季共新建倉 1 個新部位，並對 28 個既有持股進行加碼（合計增持 29 檔），相較減碼與清倉部位顯著佔優。
檢視投資組合結構，前 5 大主力部位（包含 MSFT, NVDA, GOOGL）占據了總市值的 17.6%，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 | 5.80% | -0.61% | +33.97% | |
| 2 | NVDA | Nvidia CORP | 股票-科技 | 4.97% | -0.06% | +15.37% | |
| 3 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 4.28% | -0.10% | -13.54% | |
| 4 | ADI | Analog Devices Inc | 股票-科技 | 3.14% | -0.26% | -14.38% | |
| 5 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.11% | +0.09% | +22.03% | |
| 6 | ADBE | Adobe Inc | 股票-科技 | 3.11% | -0.66% | +4.28% | |
| 7 | NOW | Servicenow Inc | 股票-科技 | 2.68% | -0.54% | +592.31% | |
| 8 | AAPL | Apple Inc | 股票-科技 | 2.57% | -0.53% | -6.77% | |
| 9 | HUBS | Hubspot Inc | 股票-科技 | 2.30% | -0.12% | +31.11% | |
| 10 | AMD | Advanced Micro Devices | 股票-科技 | 2.25% | +0.39% | -32.99% | |
| 11 | AMAT | Applied Materials Inc | 股票-科技 | 2.06% | -0.02% | -29.55% | |
| 12 | TSLA | Tesla Inc | 股票-循環性消費 | 2.01% | -0.18% | — | |
| 13 | TXN | Texas Instruments Inc | 股票-科技 | 1.98% | -0.55% | +46.88% | |
| 14 | MCHP | Microchip Technology Inc | 股票-科技 | 1.90% | -0.17% | +35.24% | |
| 15 | CRWD | Crowdstrike Holdings Inc - A | 股票-科技 | 1.80% | +0.38% | +2.60% | |
| 16 | PANW | Palo Alto Networks Inc | 股票-科技 | 1.77% | +0.34% | +12.50% | |
| 17 | ISRG | Intuitive Surgical Inc | 股票-醫療保健 | 1.76% | +0.32% | +10.34% | |
| 18 | MRVL | Marvell Technology Inc | 股票-科技 | 1.61% | -0.17% | -24.27% | |
| 19 | SNOW | Snowflake Inc | 股票-科技 | 1.61% | +0.32% | -8.48% | |
| 20 | DDOG | Datadog Inc - Class A | 股票-科技 | 1.52% | +0.42% | -5.74% | |
| 21 | MDB | Mongodb Inc | 股票-科技 | 1.39% | +0.06% | -21.84% | |
| 22 | MNDY | monday.com Ltd. | 股票-科技 | 1.33% | -0.19% | +42.31% | |
| 23 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 1.32% | +0.06% | +1.99% | |
| 24 | TOST | Toast Inc-class A | 股票-科技 | 1.26% | +0.23% | +87.18% | |
| 25 | ON | On Semiconductor | 股票-科技 | 1.24% | -0.18% | +2670.59% | |
| 26 | BAC | Bank Of America CORP | 股票-金融 | 1.08% | +0.03% | +3.85% | |
| 27 | MU | Micron Technology Inc | 股票-科技 | 1.07% | +1.71% | -54.71% | |
| 28 | BSX | Boston Scientific CORP | 股票-醫療保健 | 1.02% | +0.23% | +120.00% | |
| 29 | C | Citigroup Inc | 股票-金融 | 0.94% | -0.01% | -2.94% | |
| 30 | PI | Impinj Inc | 股票-科技 | 0.93% | +0.11% | +10.00% | |
| 31 | MNST | Monster Beverage CORP | 股票-非循環性消費 | 0.91% | -0.06% | -11.24% | |
| 32 | RTX | Rtx CORP | 股票-工業 | 0.91% | -0.11% | -12.82% | |
| 33 | LLY | Eli Lilly & Co | 股票-醫療保健 | 0.88% | -0.07% | -11.98% | |
| 34 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.88% | -0.15% | -10.43% | |
| 35 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.87% | -0.34% | +14.86% | |
| 36 | JPM | Jpmorgan Chase & Co | 股票-金融 | 0.86% | -0.16% | -1.26% | |
| 37 | MA | Mastercard Inc - A | 股票-金融 | 0.83% | -0.17% | — | |
| 38 | NET | Cloudflare Inc - Class A | 股票-科技 | 0.82% | -0.23% | — | |
| 39 | AXP | American Express Co | 股票-金融 | 0.81% | -0.04% | — | |
| 40 | DIS | Walt Disney Co/the | 股票-通訊服務 | 0.80% | +0.12% | +15.08% | |
| 41 | NKE | Nike Inc -cl B | 股票-循環性消費 | 0.80% | -0.20% | +19.82% | |
| 42 | TECH | Bio-techne CORP | 股票-醫療保健 | 0.77% | -0.15% | -3.57% | |
| 43 | BILL | Bill Holdings Inc | 股票-科技 | 0.77% | -0.15% | — | |
| 44 | PRCT | Procept Biorobotics CORP | 股票-其他 | 0.77% | -0.11% | +92.31% | |
| 45 | CBRE | Cbre Group Inc - A | 股票-房地產 | 0.74% | -0.14% | +1.06% | |
| 46 | ACN | Accenture plc | 股票-科技 | 0.72% | -0.03% | +18.09% | |
| 47 | FIVN | Five9 Inc | 股票-科技 | 0.72% | +0.05% | — | |
| 48 | PFE | Pfizer Inc | 股票-醫療保健 | 0.68% | +0.02% | +6.60% | |
| 49 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.68% | -0.24% | — | |
| 50 | DE | Deere & Co | 股票-工業 | 0.68% | -0.17% | +1.69% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ON | On Semiconductor | +1.2% | +2670.59% | 加碼 |
| 2 | MSFT | Microsoft CORP | +0.8% | +33.97% | 加碼 |
| 3 | TOST | Toast Inc-class A | +0.5% | +87.18% | 加碼 |
| 4 | BSX | Boston Scientific CORP | +0.5% | +120.00% | 加碼 |
| 5 | AMZN | Amazon.com Inc | +0.5% | +22.03% | 加碼 |
| 6 | TXN | Texas Instruments Inc | +0.4% | +46.88% | 加碼 |
| 7 | ISRG | Intuitive Surgical Inc | +0.4% | +10.34% | 加碼 |
| 8 | V | Visa Inc-class A Shares | +0.4% | +460.00% | 加碼 |
| 9 | MCHP | Microchip Technology Inc | +0.4% | +35.24% | 加碼 |
| 10 | PRCT | Procept Biorobotics CORP | +0.3% | +92.31% | 加碼 |
| 11 | NVDA | Nvidia CORP | +0.3% | +15.37% | 加碼 |
| 12 | MRK | Merck & Co. Inc. | +0.2% | +14.86% | 加碼 |
| 13 | QCOM | Qualcomm Inc | +0.2% | +128.57% | 加碼 |
| 14 | NOW | Servicenow Inc | +0.1% | +592.31% | 加碼 |
| 15 | ACN | Accenture plc | +0.1% | +18.09% | 加碼 |
| 16 | DECK | Deckers Outdoor CORP | +0.1% | +41.35% | 加碼 |
| 17 | REGN | Regeneron Pharmaceuticals | +0.1% | — | 不變 |
| 18 | LLY | Eli Lilly & Co | +0.1% | -11.98% | 減碼 |
| 19 | GOOGL | Alphabet Inc-cl A | +0.1% | -13.54% | 減碼 |
| 20 | INTC | Intel CORP | +0.1% | +22.64% | 加碼 |
| 21 | DG | Dollar General CORP | +0.1% | +4.48% | 加碼 |
| 22 | GM | General Motors Co | +0.1% | — | 不變 |
| 23 | HUBS | Hubspot Inc | +0.1% | +31.11% | 加碼 |
| 24 | CMG | Chipotle Mexican Grill Inc | +0.1% | +33.78% | 加碼 |
| 25 | UPS | United Parcel Service-cl B | +0.1% | +100.00% | 加碼 |
| 26 | NXPI | NXP Semiconductors N.V. | +0.1% | +233.33% | 加碼 |
| 27 | DIS | Walt Disney Co/the | 0% | +15.08% | 加碼 |
| 28 | C | Citigroup Inc | 0% | -2.94% | 減碼 |
| 29 | DHR | Danaher CORP | 0% | — | 不變 |
| 30 | AXP | American Express Co | 0% | — | 不變 |
| 31 | BAC | Bank Of America CORP | 0% | +3.85% | 加碼 |
| 32 | MNDY | monday.com Ltd. | — | +42.31% | 加碼 |
| 33 | MDB | Mongodb Inc | 0% | -21.84% | 減碼 |
| 34 | FISV | Fiserv Inc | -0.1% | +26.83% | 加碼 |
| 35 | ADBE | Adobe Inc | -0.2% | +4.28% | 加碼 |
| 36 | CRSP | CRISPR Therapeutics AG | -0.2% | -5.56% | 減碼 |
| 37 | FIVN | Five9 Inc | -0.2% | — | 不變 |
| 38 | META | Meta Platforms Inc-class A | -0.3% | +1.99% | 加碼 |
| 39 | DDOG | Datadog Inc - Class A | -0.3% | -5.74% | 減碼 |
| 40 | SNOW | Snowflake Inc | -0.4% | -8.48% | 減碼 |
| 41 | MU | Micron Technology Inc | -0.4% | -54.71% | 減碼 |
| 42 | AMAT | Applied Materials Inc | -0.5% | -29.55% | 減碼 |
| 43 | ADI | Analog Devices Inc | -0.5% | -14.38% | 減碼 |
| 44 | AMD | Advanced Micro Devices | -0.5% | -32.99% | 減碼 |
| 45 | NTLA | Intellia Therapeutics Inc | -0.6% | -50.00% | 減碼 |
| 46 | MRVL | Marvell Technology Inc | -0.7% | -24.27% | 減碼 |
| 47 | EXK | Exact Sciences CORP | — | EXIT | 清倉 |
| 48 | AVGO | Broadcom Inc | — | NEW | 新建倉 |
| 49 | CIEN | Ciena CORP | — | EXIT | 清倉 |
| 50 | WBD | Warner Bros Discovery Inc | — | EXIT | 清倉 |
根據 SEC 官方 Form 13F 申報備案，Generali Investments Towarzystwo Funduszy Inwestycyjnych 在 Q4 2025 季度的美股持倉總市值約為 US$2.5億，共申報了 141 個公開持股部位。
在 Q4 2025 季度，Generali Investments Towarzystwo Funduszy Inwestycyjnych 按市值排列的前三大核心持股分別為：MSFT (5.8%)、NVDA (5.0%)、GOOGL (4.3%)。其中最大持股部位 MSFT 佔據整體投資組合約 5.8% 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
AVGO
市值: US$114.2萬
本季最大獲利了結 / 清倉標的
EXK
前期市值: US$153.2萬
在 Q4 2025 季度中，Generali Investments Towarzystwo Funduszy Inwestycyjnych 共進行了 45 項持倉異動，包含新建倉 1 個部位、加碼 28 個部位、減碼 13 個部位以及清倉 3 個部位。 其中最大新建倉標的為 AVGO。 本季清倉部位包含 EXK。
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。