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: 0001299351
申報總市值
US$83.9億
US$83.9億
336 檔
16.9%
Q3 2025 季度申報顯示，Madison Asset Management, LLC 揭露的美股組合總市值為 US$83.9億，涵蓋 336 個不同之權益投資部位。
Q3 2025 的申報記錄反映 Madison Asset Management, LLC 的板塊替換策略：機構本季推動了 25 筆增持與 25 筆減持，籌碼呈現明顯的結構重組。
整體而言，Madison Asset Management, LLC 的前 5 大持股（包含 ACGL, APH, ROST）貢獻了組合市值的 16.9%，形成該機構在 Q3 2025 季度的基本面基石。
僅顯示前 200 大持股（共 336 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 | ACGL | Arch Capital Group Ltd. | 股票-金融 | 4.71% | -0.45% | -2.43% | |
| 2 | APH | Amphenol Corp-cl A | 股票-科技 | 3.33% | +0.51% | -1.44% | |
| 3 | ROST | Ross Stores Inc | 股票-循環性消費 | 2.68% | -1.55% | -3.98% | |
| 4 | PCAR | Paccar Inc | 股票-工業 | 2.67% | -0.15% | -2.23% | |
| 5 | CDW | Cdw Corp/de | 股票-科技 | 2.28% | +0.14% | -2.14% | |
| 6 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 2.26% | +0.33% | -10.87% | |
| 7 | CPRT | Copart Inc | 股票-工業 | 2.24% | -0.25% | -1.74% | |
| 8 | BRO | Brown & Brown Inc | 股票-金融 | 2.08% | -0.22% | -1.64% | |
| 9 | IT | Gartner Inc | 股票-科技 | 2.08% | -0.31% | +1.85% | |
| 10 | CSL | Carlisle Cos Inc | 股票-工業 | 1.85% | -0.06% | -1.45% | |
| 11 | AMZN | Amazon.com Inc | 股票-循環性消費 | 1.78% | +0.14% | -1.33% | |
| 12 | LH | Labcorp Holdings Inc | 股票-醫療保健 | 1.76% | -0.03% | -2.57% | |
| 13 | MEDP | Medpace Holdings Inc | 股票-醫療保健 | 1.66% | -0.02% | -1.49% | |
| 14 | WRB | Wr Berkley CORP | 股票-金融 | 1.55% | -0.07% | -1.23% | |
| 15 | TXN | Texas Instruments Inc | 股票-科技 | 1.47% | +0.59% | -5.02% | |
| 16 | TDY | Teledyne Technologies Inc | 股票-科技 | 1.44% | -0.03% | -1.13% | |
| 17 | V | Visa Inc-class A Shares | 股票-金融 | 1.38% | +0.11% | +1.73% | |
| 18 | FND | Floor & Decor Holdings Inc-a | 股票-循環性消費 | 1.34% | +0.08% | +1.04% | |
| 19 | MKSI | Mks Inc | 股票-科技 | 1.33% | +0.72% | -33.31% | |
| 20 | THO | Thor Industries Inc | 股票-循環性消費 | 1.26% | -0.17% | -1.00% | |
| 21 | DHR | Danaher CORP | 股票-醫療保健 | 1.21% | -0.14% | -3.67% | |
| 22 | BAM | Brookfield Asset Mgmt-a | 股票-金融 | 1.20% | -0.08% | -0.97% | |
| 23 | SPHQ | Invesco S&p 500 Quality ETF | ETF-大型股與成長 | 1.17% | -0.19% | +2.97% | |
| 24 | ANET | Arista Networks Inc | 股票-科技 | 1.17% | -0.68% | -40.40% | |
| 25 | LOW | Lowe's Cos Inc | 股票-循環性消費 | 1.13% | -0.14% | -5.53% | |
| 26 | MCHP | Microchip Technology Inc | 股票-科技 | 1.13% | -0.12% | EXIT | |
| 27 | FWONK | Liberty Media Corp-formula-c | 股票-通訊服務 | 1.12% | -0.04% | -1.49% | |
| 28 | KEYS | Keysight Technologies In | 股票-科技 | 1.10% | +0.18% | +7.56% | |
| 29 | FERG | Ferguson Enterprises Inc | 股票-工業 | 1.10% | -0.07% | -3.84% | |
| 30 | PGR | Progressive CORP | 股票-金融 | 1.08% | +0.02% | -3.68% | |
| 31 | TREX | Trex Company Inc | 股票-工業 | 1.08% | — | +1.18% | |
| 32 | ADI | Analog Devices Inc | 股票-科技 | 1.03% | +0.15% | -6.77% | |
| 33 | WAT | Waters CORP | 股票-醫療保健 | 1.02% | +0.24% | -1.46% | |
| 34 | MC | Moelis & Co - Class A | 股票-金融 | 1.01% | +0.05% | -0.85% | |
| 35 | ABG | Asbury Automotive Group | 股票-循環性消費 | 1.01% | -0.03% | -1.04% | |
| 36 | LAD | Lithia Motors Inc | 股票-循環性消費 | 0.99% | +0.08% | -0.63% | |
| 37 | MSFT | Microsoft CORP | 股票-科技 | 0.97% | -0.02% | +10.97% | |
| 38 | LBRDK | Liberty Broadband-c | 股票-通訊服務 | 0.93% | -0.74% | EXIT | |
| 39 | A | Agilent Technologies Inc | 股票-醫療保健 | 0.93% | +0.14% | -2.11% | |
| 40 | PH | Parker Hannifin CORP | 股票-工業 | 0.91% | — | -9.27% | |
| 41 | SCHW | Schwab (charles) CORP | 股票-金融 | 0.85% | +0.09% | -3.74% | |
| 42 | BN | Brookfield CORP | 股票-金融 | 0.85% | -0.03% | -4.12% | |
| 43 | JMBS | Janus Henderson Mortg Backed | ETF-其他 | 0.83% | -0.08% | -4.95% | |
| 44 | ACN | Accenture plc | 股票-科技 | 0.77% | -0.16% | -6.20% | |
| 45 | TJX | Tjx Companies Inc | 股票-循環性消費 | 0.76% | -0.08% | -3.27% | |
| 46 | FISV | Fiserv Inc | 股票-其他 | 0.76% | -0.02% | -10.14% | |
| 47 | EXPD | Expeditors Intl Wash Inc | 股票-工業 | 0.74% | — | -1.20% | |
| 48 | KNSL | Kinsale Capital Group Inc | 股票-金融 | 0.73% | -0.09% | -4.79% | |
| 49 | MRSH | Marsh & Mclennan Cos | 股票-金融 | 0.71% | -0.09% | +2.36% | |
| 50 | DSTL | Distillate US Fundamental St | ETF-其他 | 0.70% | -0.21% | -2.31% |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | MEDP | Medpace Holdings Inc | +1.6% | -1.49% | 加碼 |
| 2 | APH | Amphenol Corp-cl A | +1.5% | -1.44% | 減碼 |
| 3 | CDW | Cdw Corp/de | +0.8% | -2.14% | 加碼 |
| 4 | ANET | Arista Networks Inc | +0.6% | -40.40% | 加碼 |
| 5 | ROST | Ross Stores Inc | +0.4% | -3.98% | 減碼 |
| 6 | FND | Floor & Decor Holdings Inc-a | +0.4% | +1.04% | 加碼 |
| 7 | THO | Thor Industries Inc | +0.4% | -1.00% | 加碼 |
| 8 | LH | Labcorp Holdings Inc | +0.3% | -2.57% | 減碼 |
| 9 | MSFT | Microsoft CORP | +0.3% | +10.97% | 加碼 |
| 10 | MCHP | Microchip Technology Inc | +0.3% | -1.20% | 加碼 |
| 11 | FERG | Ferguson Enterprises Inc | +0.3% | -3.84% | 減碼 |
| 12 | ORCL | Oracle CORP | +0.2% | -9.67% | 減碼 |
| 13 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.2% | +35.96% | 加碼 |
| 14 | VEU | Vanguard Ftse All-world Ex-u | +0.2% | +23.24% | 加碼 |
| 15 | TDY | Teledyne Technologies Inc | +0.2% | -1.13% | 加碼 |
| 16 | KEYS | Keysight Technologies In | +0.2% | +7.56% | 加碼 |
| 17 | ITW | Illinois Tool Works | +0.2% | +411.76% | 加碼 |
| 18 | MC | Moelis & Co - Class A | +0.2% | -0.85% | 加碼 |
| 19 | DHR | Danaher CORP | +0.2% | -3.67% | 加碼 |
| 20 | AMZN | Amazon.com Inc | +0.2% | -1.33% | 減碼 |
| 21 | BAM | Brookfield Asset Mgmt-a | +0.2% | -0.97% | 加碼 |
| 22 | NKE | Nike Inc -cl B | +0.2% | +53.78% | 加碼 |
| 23 | TEL | TE Connectivity plc | +0.2% | -2.29% | 加碼 |
| 24 | TXN | Texas Instruments Inc | +0.2% | -5.02% | 加碼 |
| 25 | BN | Brookfield CORP | +0.2% | -4.12% | 減碼 |
| 26 | FWONK | Liberty Media Corp-formula-c | +0.2% | -1.49% | 減碼 |
| 27 | ADBE | Adobe Inc | -0.2% | -54.22% | 減碼 |
| 28 | AMT | American Tower CORP | -0.2% | -25.04% | 減碼 |
| 29 | MDT | Medtronic plc | -0.2% | -35.43% | 減碼 |
| 30 | JAAA | Janus Henderson Aaa Clo ETF | -0.2% | -83.57% | 減碼 |
| 31 | WAT | Waters CORP | -0.3% | -1.46% | 減碼 |
| 32 | PGR | Progressive CORP | -0.3% | -3.68% | 減碼 |
| 33 | ACN | Accenture plc | -0.3% | -6.20% | 減碼 |
| 34 | ACGL | Arch Capital Group Ltd. | -0.5% | -2.43% | 減碼 |
| 35 | IT | Gartner Inc | -0.5% | +1.85% | 加碼 |
| 36 | ELV | Elevance Health Inc | -0.7% | -88.42% | 減碼 |
| 37 | ALC | Alcon Inc. | -0.7% | -58.47% | 減碼 |
| 38 | CPRT | Copart Inc | -0.7% | -1.74% | 減碼 |
| 39 | LBRDK | Liberty Broadband-c | -0.8% | -24.88% | 減碼 |
| 40 | BRO | Brown & Brown Inc | -0.8% | -1.64% | 減碼 |
| 41 | FISV | Fiserv Inc | -0.8% | -10.14% | 減碼 |
| 42 | BRK-B | Berkshire Hathaway Inc-cl B | -1.3% | -17.71% | 減碼 |
| 43 | DLTR | Dollar Tree Inc | — | EXIT | 清倉 |
| 44 | BF-B | Brown-forman Corp-class B | — | EXIT | 清倉 |
| 45 | ABNB | Airbnb Inc-class A | — | NEW | 新建倉 |
| 46 | TECH | Bio-techne CORP | — | NEW | 新建倉 |
| 47 | MSCI | Msci Inc | — | NEW | 新建倉 |
| 48 | JIRE | Jpmorgan Int Res Enh Eqty | — | NEW | 新建倉 |
| 49 | IGIB | Ishares 5-10y Inv Grade CORP | — | NEW | 新建倉 |
| 50 | SPTI | Ss Spdr P Int Term Tsy ETF | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Madison Asset Management, LLC 在 Q3 2025 季度的美股持倉總市值約為 US$83.9億，共申報了 336 個公開持股部位。
在 Q3 2025 季度，Madison Asset Management, LLC 按市值排列的前三大核心持股分別為：ACGL (4.7%)、APH (3.3%)、ROST (2.7%)。其中最大持股部位 ACGL 佔據整體投資組合約 4.7% 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
ABNB
市值: US$4877.2萬
本季最大獲利了結 / 清倉標的
DLTR
前期市值: US$1.3億
在 Q3 2025 季度中，Madison Asset Management, LLC 共進行了 50 項持倉異動，包含新建倉 6 個部位、加碼 19 個部位、減碼 23 個部位以及清倉 2 個部位。 其中最大新建倉標的為 ABNB。 本季清倉部位包含 DLTR。
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。