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: 0001207017
申報總市值
US$660.6億
US$660.6億
1791 檔
19.4%
在 Q3 2025 的 13F 官方備案中，Lazard Asset Management LLC 管理的美股投資組合規模來到 US$660.6億，整體持股檔數為 1791 檔。
觀察 Q3 2025 的資金脈絡，Lazard Asset Management LLC 在獲利結算 11 檔個股的同時，將資本重新部署至 7 檔新選標的，展現主動管理機構的輪動節奏。
在資產配置集中度方面，Lazard Asset Management LLC 的前 5 大核心持股（包含 MSFT, AAPL, AMZN 等）合計佔整體申報市值的 19.4%，反映機構在主要關鍵部位上的權重分佈。
僅顯示前 200 大持股（共 1791 檔）
| # | 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 | 5.30% | -0.24% | -0.10% | |
| 2 | AAPL | Apple Inc | 股票-科技 | 4.15% | +0.12% | +2.61% | |
| 3 | AMZN | Amazon.com Inc | 股票-循環性消費 | 3.43% | +0.17% | +1.36% | |
| 4 | GOOGL | Alphabet Inc-cl A | 股票-通訊服務 | 2.34% | +0.24% | -12.33% | |
| 5 | NVDA | Nvidia CORP | 股票-科技 | 2.03% | +0.93% | +14.35% | |
| 6 | AVGO | Broadcom Inc | 股票-科技 | 1.81% | -0.43% | -5.67% | |
| 7 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 1.71% | +0.54% | +0.89% | |
| 8 | ✓ | Ferrovial Se | 股票-其他 | 1.69% | +0.17% | +40717866.67% | |
| 9 | V | Visa Inc-class A Shares | 股票-金融 | 1.66% | +0.09% | -0.05% | |
| 10 | CSX | Csx CORP | 股票-工業 | 1.47% | -1.24% | -11.02% | |
| 11 | ICE | Intercontinental Exchange In | 股票-金融 | 1.45% | -0.25% | -3.53% | |
| 12 | BAC | Bank Of America CORP | 股票-金融 | 1.37% | +0.04% | +0.31% | |
| 13 | EXC | Exelon CORP | 股票-公用事業 | 1.36% | +0.28% | +32.88% | |
| 14 | PG | Procter & Gamble Co/the | 股票-非循環性消費 | 1.24% | -0.21% | +9.13% | |
| 15 | AMT | American Tower CORP | 股票-房地產 | 1.16% | — | +1984.80% | |
| 16 | CNI | Canadian Natl Railway Co | 股票-工業 | 1.14% | -0.83% | +639137.05% | |
| 17 | LLY | Eli Lilly & Co | 股票-醫療保健 | 1.11% | +0.17% | +6.49% | |
| 18 | TMO | Thermo Fisher Scientific Inc | 股票-醫療保健 | 1.03% | -0.13% | -1.11% | |
| 19 | APH | Amphenol Corp-cl A | 股票-科技 | 1.03% | +0.15% | -5.23% | |
| 20 | ADI | Analog Devices Inc | 股票-科技 | 0.91% | +0.09% | -1.71% | |
| 21 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 0.89% | +0.33% | +26.12% | |
| 22 | BSX | Boston Scientific CORP | 股票-醫療保健 | 0.88% | -0.15% | +1.31% | |
| 23 | XOM | Exxon Mobil CORP | 股票-能源 | 0.88% | -0.17% | -6.97% | |
| 24 | DHR | Danaher CORP | 股票-醫療保健 | 0.88% | -0.09% | -0.58% | |
| 25 | SCHW | Schwab (charles) CORP | 股票-金融 | 0.84% | +0.03% | -5.18% | |
| 26 | BX | Blackstone Inc | 股票-金融 | 0.83% | -0.01% | -5.01% | |
| 27 | ED | Consolidated Edison Inc | 股票-公用事業 | 0.81% | +0.09% | +121543.94% | |
| 28 | MRK | Merck & Co. Inc. | 股票-醫療保健 | 0.80% | -0.28% | +6.88% | |
| 29 | AMAT | Applied Materials Inc | 股票-科技 | 0.79% | +0.25% | -22.42% | |
| 30 | MDT | Medtronic plc | 股票-醫療保健 | 0.77% | -0.36% | +18.98% | |
| 31 | WM | Waste Management Inc | 股票-工業 | 0.77% | -0.07% | +2.80% | |
| 32 | QCOM | Qualcomm Inc | 股票-科技 | 0.76% | -0.04% | +3.46% | |
| 33 | KO | Coca-cola Co/the | 股票-非循環性消費 | 0.75% | -0.03% | -1.23% | |
| 34 | MRSH | Marsh & Mclennan Cos | 股票-金融 | 0.75% | -0.08% | +6.55% | |
| 35 | MRVL | Marvell Technology Inc | 股票-科技 | 0.72% | -0.17% | -10.68% | |
| 36 | CB | Chubb Limited | 股票-金融 | 0.69% | -0.04% | +7.28% | |
| 37 | ACN | Accenture plc | 股票-科技 | 0.69% | -0.20% | -0.69% | |
| 38 | CCI | Crown Castle Inc | 股票-房地產 | 0.67% | -0.07% | -5.17% | |
| 39 | MCD | Mcdonald's CORP | 股票-循環性消費 | 0.67% | -0.15% | -5.83% | |
| 40 | AME | Ametek Inc | 股票-工業 | 0.67% | +0.19% | +35.65% | |
| 41 | ROK | Rockwell Automation Inc | 股票-工業 | 0.67% | +0.15% | -28.87% | |
| 42 | HD | Home Depot Inc | 股票-循環性消費 | 0.66% | -0.03% | -1.25% | |
| 43 | GS | Goldman Sachs Group Inc | 股票-金融 | 0.65% | -0.04% | +5.49% | |
| 44 | TT | Trane Technologies plc | 股票-工業 | 0.63% | -0.03% | -2.54% | |
| 45 | J | Jacobs Solutions Inc | 股票-工業 | 0.62% | -0.04% | -2.66% | |
| 46 | LIN | Linde plc | 股票-原物料 | 0.61% | -0.03% | — | |
| 47 | AON | Aon plc | 股票-金融 | 0.61% | -0.09% | -30.86% | |
| 48 | EFX | Equifax Inc | 股票-工業 | 0.60% | — | +0.56% | |
| 49 | CBRE | Cbre Group Inc - A | 股票-房地產 | 0.56% | +0.01% | -4.51% | |
| 50 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 0.54% | -0.06% | +23.73% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | ✓ | Ferrovial Se | +1.7% | +40717866.67% | 加碼 |
| 2 | CNI | Canadian Natl Railway Co | +1.1% | +639137.05% | 加碼 |
| 3 | AMT | American Tower CORP | +1.1% | +1984.80% | 加碼 |
| 4 | NVDA | Nvidia CORP | +1.1% | +14.35% | 加碼 |
| 5 | ED | Consolidated Edison Inc | +0.8% | +121543.94% | 加碼 |
| 6 | MSFT | Microsoft CORP | +0.8% | -0.10% | 減碼 |
| 7 | AVGO | Broadcom Inc | +0.7% | -5.67% | 減碼 |
| 8 | CCI | Crown Castle Inc | +0.6% | -5.17% | 加碼 |
| 9 | TSM | Taiwan Semiconductor-sp Adr | +0.6% | +0.89% | 加碼 |
| 10 | GOOG | Alphabet Inc-cl C | +0.4% | +26.12% | 加碼 |
| 11 | CSX | Csx CORP | +0.4% | -11.02% | 加碼 |
| 12 | PG | Procter & Gamble Co/the | +0.4% | +9.13% | 加碼 |
| 13 | GOOGL | Alphabet Inc-cl A | +0.3% | -12.33% | 減碼 |
| 14 | GE | General Electric | +0.3% | +4.02% | 加碼 |
| 15 | URI | United Rentals Inc | +0.3% | +22.94% | 加碼 |
| 16 | INFY | Infosys Ltd-sp Adr | +0.3% | +340.18% | 加碼 |
| 17 | ADSK | Autodesk Inc | +0.3% | +39.60% | 加碼 |
| 18 | INTU | Intuit Inc | +0.3% | +27.04% | 加碼 |
| 19 | META | Meta Platforms Inc-class A | +0.2% | +23.73% | 加碼 |
| 20 | AME | Ametek Inc | +0.2% | +35.65% | 加碼 |
| 21 | ESLT | Elbit Systems Ltd. | +0.2% | — | 加碼 |
| 22 | BX | Blackstone Inc | +0.2% | -5.01% | 加碼 |
| 23 | TT | Trane Technologies plc | +0.2% | -2.54% | 加碼 |
| 24 | TLK | Telkom Indonesia Persero-adr | +0.2% | +34.56% | 加碼 |
| 25 | KO | The Coca-Cola Company | +0.2% | +310.43% | 加碼 |
| 26 | ORCL | Oracle CORP | +0.2% | +370.65% | 加碼 |
| 27 | AEM | Agnico Eagle Mines LTD | +0.2% | +566.25% | 加碼 |
| 28 | PYPL | Paypal Holdings Inc | +0.2% | +2.91% | 加碼 |
| 29 | SLB | Slb LTD | +0.2% | +31.06% | 加碼 |
| 30 | NKE | Nike Inc -cl B | +0.2% | +501.45% | 加碼 |
| 31 | GD | General Dynamics CORP | +0.2% | +349.16% | 加碼 |
| 32 | AMX | America Movil Sab De Cv | +0.2% | +8.79% | 加碼 |
| 33 | CDNS | Cadence Design Sys Inc | +0.2% | -0.07% | 加碼 |
| 34 | TSLA | Tesla Inc | +0.2% | +44.95% | 加碼 |
| 35 | DIS | Walt Disney Co/the | +0.2% | +49.52% | 加碼 |
| 36 | NDAQ | Nasdaq Inc | +0.2% | +55.10% | 加碼 |
| 37 | APH | Amphenol Corp-cl A | +0.1% | -5.23% | 減碼 |
| 38 | PTC | Ptc Inc | +0.1% | -1.46% | 加碼 |
| 39 | UBER | Uber Technologies Inc | +0.1% | +344.25% | 加碼 |
| 40 | CP | Canadian Pacific Kansas City | +0.1% | +281.24% | 加碼 |
| 41 | MDT | Medtronic plc | +0.1% | +18.98% | 加碼 |
| 42 | ASML | ASML Holding N.V. | +0.1% | +0.32% | 加碼 |
| 43 | SAN | Banco Santander Sa-spon Adr | +0.1% | +20.52% | 加碼 |
| 44 | LLY | Eli Lilly & Co | +0.1% | +6.49% | 加碼 |
| 45 | GIL | Gildan Activewear Inc | +0.1% | +95.16% | 加碼 |
| 46 | GPN | Global Payments Inc | +0.1% | +69.07% | 加碼 |
| 47 | MRK | Merck & Co. Inc. | +0.1% | +6.88% | 加碼 |
| 48 | QCOM | Qualcomm Inc | +0.1% | +3.46% | 加碼 |
| 49 | MU | Micron Technology Inc | +0.1% | -20.94% | 減碼 |
| 50 | FIX | Comfort Systems USA Inc | +0.1% | +10.77% | 加碼 |
根據 SEC 官方 Form 13F 申報備案，Lazard Asset Management LLC 在 Q3 2025 季度的美股持倉總市值約為 US$660.6億，共申報了 1791 個公開持股部位。
在 Q3 2025 季度，Lazard Asset Management LLC 按市值排列的前三大核心持股分別為：MSFT (5.3%)、AAPL (4.2%)、AMZN (3.4%)。其中最大持股部位 MSFT 佔據整體投資組合約 5.3% 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
LIN
市值: US$4.5億
本季最大獲利了結 / 清倉標的
AKAM 0.125 05-01-25
前期市值: US$1.0億
在 Q3 2025 季度中，Lazard Asset Management LLC 共進行了 200 項持倉異動，包含新建倉 7 個部位、加碼 101 個部位、減碼 81 個部位以及清倉 11 個部位。 其中最大新建倉標的為 LIN。 本季清倉部位包含 AKAM 0.125 05-01-25。
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。