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: 0001290668
申報總市值
US$101.9億
US$101.9億
59 檔
53.4%
Q3 2025 季度申報顯示，Sustainable Growth Advisers, LP 揭露的美股組合總市值為 US$101.9億，涵蓋 59 個不同之權益投資部位。
Sustainable Growth Advisers, LP 在 Q3 2025 的調整主要集中於風險出清，清倉與減碼部位合計達 32 檔，反映機構對當前市場環境或個別公司估值採取較為保留之看法。
檢視投資組合結構，前 5 大主力部位（包含 MSFT, NVDA, AMZN）占據了總市值的 53.4%，展現出該機構在 Q3 2025 的重點資金聚焦與風險分佈特徵。
本季最大新建倉標的
CMG
市值: US$4.9億
本季最大獲利了結 / 清倉標的
ICLR
前期市值: US$2.6億
| # | 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 | 7.76% | +0.04% | -8.53% | |
| 2 | NVDA | Nvidia CORP | 股票-科技 | 7.00% | +1.31% | -1.90% | |
| 3 | AMZN | Amazon.com Inc | 股票-循環性消費 | 6.97% | -1.07% | -14.99% | |
| 4 | V | Visa Inc-class A Shares | 股票-金融 | 5.15% | -0.12% | -11.31% | |
| 5 | INTU | Intuit Inc | 股票-科技 | 4.99% | -2.59% | EXIT | |
| 6 | META | Meta Platforms Inc-class A | 股票-通訊服務 | 4.55% | -0.38% | -29.72% | |
| 7 | WM | Waste Management Inc | 股票-工業 | 4.22% | +0.14% | +12.58% | |
| 8 | SNPS | Synopsys Inc | 股票-科技 | 3.88% | +0.17% | -13.15% | |
| 9 | SPGI | S&p Global Inc | 股票-金融 | 3.69% | -0.38% | -14.32% | |
| 10 | GOOG | Alphabet Inc-cl C | 股票-通訊服務 | 3.47% | +2.27% | -10.42% | |
| 11 | NOW | Servicenow Inc | 股票-科技 | 3.38% | +0.31% | -2.99% | |
| 12 | CP | Canadian Pacific Kansas City | 股票-工業 | 3.33% | -1.10% | -5.68% | |
| 13 | ✓ | 股票-其他 | 3.32% | — | +17.80% | ||
| 14 | CMG | Chipotle Mexican Grill Inc | 股票-循環性消費 | 2.87% | -0.07% | +17.52% | |
| 15 | CRM | Salesforce Inc | 股票-科技 | 2.82% | -0.75% | -3.87% | |
| 16 | AON | Aon plc | 股票-金融 | 2.75% | -2.41% | -28.68% | |
| 17 | YUM | Yum! Brands Inc | 股票-循環性消費 | 2.43% | +0.61% | +3.97% | |
| 18 | ARM | Arm Holdings Plc-adr | 股票-科技 | 2.39% | -1.52% | -16.65% | |
| 19 | IT | Gartner Inc | 股票-科技 | 2.26% | — | +26.28% | |
| 20 | DHR | Danaher CORP | 股票-醫療保健 | 2.23% | -0.14% | -21.35% | |
| 21 | HDB | Hdfc Bank Ltd-adr | 股票-金融 | 2.18% | -0.26% | +48.17% | |
| 22 | AAPL | Apple Inc | 股票-科技 | 1.96% | +1.31% | -0.50% | |
| 23 | COO | Cooper Cos Inc/the | 股票-醫療保健 | 1.66% | -0.01% | +22.08% | |
| 24 | AXP | American Express Co | 股票-金融 | 1.57% | +0.08% | -0.79% | |
| 25 | STE | STERIS plc | 股票-醫療保健 | 1.54% | -0.36% | -14.73% | |
| 26 | GWW | Ww Grainger Inc | 股票-工業 | 1.40% | +0.45% | — | |
| 27 | ALC | Alcon Inc. | 股票-醫療保健 | 1.40% | -0.63% | -8.60% | |
| 28 | SAP | Sap Se-sponsored Adr | 股票-科技 | 1.32% | -0.23% | +1126.30% | |
| 29 | MELI | Mercadolibre Inc | 股票-循環性消費 | 1.27% | -0.30% | -19.76% | |
| 30 | ECL | Ecolab Inc | 股票-原物料 | 1.12% | +0.42% | -0.40% | |
| 31 | NKE | Nike Inc -cl B | 股票-循環性消費 | 1.11% | -0.30% | — | |
| 32 | ✓ | 股票-其他 | 1.10% | — | -21.13% | ||
| 33 | INFY | Infosys Ltd-sp Adr | 股票-科技 | 1.04% | -0.06% | -25.15% | |
| 34 | TSM | Taiwan Semiconductor-sp Adr | 股票-科技 | 0.46% | +0.01% | -47.80% | |
| 35 | BABA | Alibaba Group Holding-sp Adr | 股票-循環性消費 | 0.29% | -0.13% | +200.72% | |
| 36 | UL | Unilever PLC | 股票-非循環性消費 | 0.15% | — | +0.86% | |
| 37 | FMX | Fomento Economico Mex-sp Adr | 股票-其他 | 0.12% | -0.04% | -14.29% | |
| 38 | WCN | Waste Connections Inc | 股票-工業 | 0.09% | +0.03% | -5.08% | |
| 39 | SHOP | Shopify Inc - Class A | 股票-科技 | 0.08% | -0.01% | -29.39% | |
| 40 | LIN | Linde plc | 股票-原物料 | 0.08% | +0.66% | -6.94% | |
| 41 | TEAM | Atlassian Corp-cl A | 股票-科技 | 0.07% | — | +11.85% | |
| 42 | GRAB | Grab Holdings Limited | 股票-科技 | 0.07% | -0.03% | -4.54% | |
| 43 | UNVGY | Universal Music Gro-unsp Adr | 股票-其他 | 0.06% | -0.03% | EXIT | |
| 44 | XPEV | XPeng Inc. | 股票-其他 | 0.06% | -0.04% | +17.56% | |
| 45 | WDAY | Workday Inc-class A | 股票-科技 | 0.05% | — | -97.46% | |
| 46 | TME | Tencent Music Entertainm-adr | 股票-通訊服務 | 0.05% | -0.04% | EXIT | |
| 47 | EXPGY | Experian Plc-spons Adr | 股票-其他 | 0.04% | -0.02% | EXIT | |
| 48 | AAGIY | Aia Group Ltd-sp Adr | 股票-其他 | 0.04% | -0.03% | EXIT | |
| 49 | ADYEY | Adyen Nv-unspon Adr | 股票-其他 | 0.04% | -0.03% | — | |
| 50 | FRCOY | Fast Retailing Co-unspon Adr | 股票-其他 | 0.03% | -0.02% | EXIT |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | +2.7% | -1.90% | 減碼 |
| 2 | WM | Waste Management Inc | +1.8% | +12.58% | 加碼 |
| 3 | ARM | Arm Holdings Plc-adr | +1.4% | -16.65% | 加碼 |
| 4 | MSFT | Microsoft CORP | +1.3% | -8.53% | 減碼 |
| 5 | SAP | Sap Se-sponsored Adr | +1.2% | +1126.30% | 加碼 |
| 6 | GOOG | Alphabet Inc-cl C | +1% | -10.42% | 減碼 |
| 7 | IT | Gartner Inc | +0.7% | +26.28% | 加碼 |
| 8 | CRM | Salesforce Inc | +0.4% | -3.87% | 加碼 |
| 9 | AXP | American Express Co | +0.3% | -0.79% | 減碼 |
| 10 | BABA | Alibaba Group Holding-sp Adr | +0.3% | +200.72% | 加碼 |
| 11 | ECL | Ecolab Inc | +0.1% | -0.40% | 減碼 |
| 12 | SNPS | Synopsys Inc | +0.1% | -13.15% | 減碼 |
| 13 | UL | Unilever PLC | +0.1% | +0.86% | 加碼 |
| 14 | CP | Canadian Pacific Kansas City | +0.1% | -5.68% | 減碼 |
| 15 | INTU | Intuit Inc | 0% | -10.02% | 減碼 |
| 16 | GRAB | Grab Holdings Limited | 0% | -4.54% | 加碼 |
| 17 | SHOP | Shopify Inc - Class A | 0% | -29.39% | 減碼 |
| 18 | AMZN | Amazon.com Inc | 0% | -14.99% | 減碼 |
| 19 | WCN | Waste Connections Inc | 0% | -5.08% | 減碼 |
| 20 | FMX | Fomento Economico Mex-sp Adr | 0% | -14.29% | 減碼 |
| 21 | IWF | Ishares Russell 1000 Growth | 0% | -82.77% | 減碼 |
| 22 | ✓ | -0.1% | -21.13% | 減碼 | |
| 23 | TSM | Taiwan Semiconductor-sp Adr | -0.1% | -47.80% | 減碼 |
| 24 | STE | STERIS plc | -0.1% | -14.73% | 減碼 |
| 25 | ALC | Alcon Inc. | -0.3% | -8.60% | 加碼 |
| 26 | MELI | Mercadolibre Inc | -0.4% | -19.76% | 減碼 |
| 27 | META | Meta Platforms Inc-class A | -0.4% | -29.72% | 減碼 |
| 28 | INFY | Infosys Ltd-sp Adr | -0.5% | -25.15% | 減碼 |
| 29 | DHR | Danaher CORP | -0.7% | -21.35% | 減碼 |
| 30 | SPGI | S&p Global Inc | -0.7% | -14.32% | 減碼 |
| 31 | YUM | Yum! Brands Inc | -0.7% | +3.97% | 減碼 |
| 32 | HDB | Hdfc Bank Ltd-adr | -0.7% | +48.17% | 加碼 |
| 33 | AON | Aon plc | -0.8% | -28.68% | 減碼 |
| 34 | AAPL | Apple Inc | -1% | -0.50% | 減碼 |
| 35 | SBUX | Starbucks CORP | -1.1% | — | 減碼 |
| 36 | ADSK | Autodesk Inc | -1.1% | -5.79% | 減碼 |
| 37 | V | Visa Inc-class A Shares | -1.3% | -11.31% | 減碼 |
| 38 | ✓ | -1.5% | +17.80% | 加碼 | |
| 39 | TMO | Thermo Fisher Scientific Inc | -1.8% | +0.23% | 減碼 |
| 40 | NVO | Novo-nordisk A/s-spons Adr | -2.2% | -99.91% | 減碼 |
| 41 | WDAY | Workday Inc-class A | -2.4% | -97.46% | 減碼 |
| 42 | CMG | Chipotle Mexican Grill Inc | — | NEW | 新建倉 |
| 43 | COO | Cooper Cos Inc/the | — | NEW | 新建倉 |
| 44 | ICLR | ICON Public Limited Company | — | EXIT | 清倉 |
| 45 | GWW | Ww Grainger Inc | — | NEW | 新建倉 |
| 46 | NKE | Nike Inc -cl B | — | NEW | 新建倉 |
| 47 | LVMUY | Lvmh Moet Hennessy-unsp Adr | — | EXIT | 清倉 |
| 48 | ADYEY | Adyen Nv-unspon Adr | — | NEW | 新建倉 |
| 49 | FRCOY | Fast Retailing Co-unspon Adr | — | NEW | 新建倉 |
| 50 | MMYT | MakeMyTrip Limited | — | NEW | 新建倉 |
根據 SEC 官方 Form 13F 申報備案，Sustainable Growth Advisers, LP 在 Q3 2025 季度的美股持倉總市值約為 US$101.9億，共申報了 59 個公開持股部位。
在 Q3 2025 季度，Sustainable Growth Advisers, LP 按市值排列的前三大核心持股分別為：MSFT (7.8%)、NVDA (7.0%)、AMZN (7.0%)。其中最大持股部位 MSFT 佔據整體投資組合約 7.8% 的權重。
在 Q3 2025 季度中，Sustainable Growth Advisers, LP 共進行了 50 項持倉異動，包含新建倉 7 個部位、加碼 11 個部位、減碼 30 個部位以及清倉 2 個部位。 其中最大新建倉標的為 CMG。 本季清倉部位包含 ICLR。
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。
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。
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。