165 家·
深度价值
Murray Stahl
2001 Q3 的 13F 持股 165 家公司、市值约 2.4 亿美元；本季新建仓 36、增持 94、减持 20、清仓 18 家。
13F 市值
2.4亿美元
上季 2.0 亿美元（+15.8%）
持股家数
165
新建仓 36·清仓 18
净投入率估
+23.2%
估计净买入 ÷ 上季投资组合
前十大集中度
40%
与综合组合重叠 23%
换手率估
5.4%
平均持有 5 个季度
13F 只列美国上市股票（与部分 ETF、可转债）的多头仓位；做空、现金、债券、非美国上市的股票、私人公司都看不到，所以这不是这位巨人的全部资产。
2001 Q3 的买卖
依仓位调整幅度排序：这笔买卖让投资组合变动多少个百分点。
怎么看？
股数变动已按拆股调整；原本只有零星持股、增加超过 10 倍的，变动以倍数（×）表示。仓位调整＝买卖的股数 × 季末价 ÷ 投资组合总值，只算这笔买卖，不含股价涨跌，所以和占投资组合比重的变化不一样。估计成交价＝（季初价＋季末价）÷ 2；13F 看不到实际成交的日期与价格。“+<0.1”“<0.1%”这类写法表示不是零，只是比显示的位数还小（见术语表）。
| 动作 | 公司 | ?仓位调整（百分点） | 股数变动（万股） |
|---|---|---|---|
| 新建仓 | —Exxon Corp Com | +1.65 | +10 |
| 清仓 | —Exxon Mobil | −1.34 | −8 |
| 增持 | FNMAFannie Mae | +0.87 | +3 |
| 增持 | —American International Group | +0.79 | +2 |
| 清仓 | —AT&T | −0.65 | −9 |
| 增持 | PWCDFPower Corp of Canada | +0.63 | +7 |
| 新建仓 | KROLKroll | +0.61 | +13 |
| 增持 | —Alliance Capital Mgmt. Holding Com | +0.59 | +3 |
| 增持 | —Merck Sharp & Dohme | +0.54 | +2 |
| 增持 | JNJ娇生Johnson & Johnson | +0.54 | +2 |
| 清仓 | —Sole El Paso Corp Equity Security Utpreferred | −0.50 | −13 |
| 增持 | —Philip Morris Com | +0.50 | +2 |
| 新建仓 | —Liberty Interactive | +0.47 | +9 |
| 增持 | ABT亚培Abbott Laboratories | +0.44 | +2 |
| 增持 | WTMWhite Mountains Insurance Group | +0.43 | +<1 |
| 增持 | RTN.ARaytheon | +0.39 | +3 |
| 增持 | FMCCFreddie Mac | +0.39 | +1 |
| 增持 | —Pharmacia | +0.38 | +2 |
| 增持 | VZ威瑞森Verizon Communications | +0.38 | +2 |
| 减持 | IFF国际香料香精International Flavors & Fragrances | −0.38 | −3 |
| 增持 | DLXDeluxe | +0.37 | +3 |
| 新建仓 | ROKRockwell Automation | +0.36 | +6 |
| 增持 | PFEPfizer | +0.36 | +2 |
| 增持 | MSFT微软Microsoft | +0.34 | +2 |
| 增持 | —Berkshire Hathaway | +0.34 | +<1 |
| 增持 | —General Electric | +0.34 | +2 |
| 增持 | —Texaco | +0.33 | +1 |
| 增持 | —Bank of New York Com | +0.33 | +2 |
| 增持 | ADPAutomatic Data Processing | +0.33 | +2 |
| 增持 | PEP百事PepsiCo | +0.31 | +2 |
| 增持 | NXLNexalin Technology | +0.29 | +4 |
| 增持 | CLColgate-Palmolive | +0.28 | +1 |
| 增持 | FNMCFFranco Nevada Mining | +0.26 | +4 |
| 增持 | RDPLRoyal Dutch Petro-Ny Shares | +0.26 | +1 |
| 新建仓 | —Vivendi | +0.25 | +1 |
| 增持 | —Northrop Grumman Space & Mis | +0.25 | +2 |
| 增持 | KMPKinder Morgan Energy Prtnrs | +0.24 | +2 |
| 增持 | MFINMedallion Financial | +0.24 | +7 |
| 增持 | —Honeywell International | +0.24 | +2 |
| 增持 | RAIReynolds American | +0.23 | +1 |
| 新建仓 | WMT沃尔玛Walmart | +0.23 | +1 |
| 增持 | VNOVornado Realty Trust | +0.22 | +1 |
| 新建仓 | CPMNYCentral Pac Mineral-Unsp ADR | +0.22 | +35 |
| 新建仓 | TXUEnergy Future Holdings | +0.21 | +1 |
| 新建仓 | SRESempra | +0.21 | +2 |
| 增持 | CSCO思科Cisco Systems | +0.20 | +4 |
| 增持 | NPPNuveen Perf Plus Muni FD | +0.20 | +3 |
| 新建仓 | —Wachovia | +0.18 | +1 |
| 新建仓 | CYNCyngn | +0.17 | +1 |
| 增持 | —Pall | +0.17 | +2 |
| 新建仓 | ARTNAArtesian Resources | +0.17 | +2 |
| 增持 | —American Home Prods Corp Com | +0.17 | +1 |
| 增持 | —Servicemaster | +0.17 | +4 |
| 增持 | DHR丹纳赫Danaher | +0.16 | +1 |
| 新建仓 | STTState Street | +0.15 | +1 |
| 增持 | YAlleghany | +0.15 | +<1 |
| 新建仓 | —Certegy Inc Common | +0.15 | +1 |
| 增持 | —Ust | +0.15 | +1 |
| 增持 | —Citigroup | +0.15 | +1 |
| 增持 | BPBP | +0.14 | +1 |
| 增持 | BMYBristol-Myers Squibb | +0.14 | +1 |
| 增持 | EFXEquifax | +0.14 | +1 |
| 减持 | —Wesco Financial | −0.14 | −<1 |
| 新建仓 | —Bank of Bermuda | +0.14 | +1 |
| 增持 | SLB斯伦贝谢SLB | +0.13 | +1 |
| 清仓 | —First Union Corp. Com | −0.13 | −1 |
| 减持 | AGMFederal Agricultural Mortgage | −0.13 | −1 |
| 新建仓 | MFCManulife Financial | +0.13 | +1 |
| 增持 | —Avis Budget Group | +0.12 | +2 |
| 增持 | EOPEquity Office Properties TR | +0.12 | +1 |
| 新建仓 | —Great Lakes REIT | +0.12 | +2 |
| 新建仓 | —ConocoPhillips | +0.12 | +1 |
| 增持 | GLWCorning | +0.11 | +3 |
| 减持 | DIS迪士尼Walt Disney | −0.11 | −1 |
| 新建仓 | GMSTGemstar-Tv Guide International | +0.11 | +1 |
| 新建仓 | EMREmerson Electric | +0.11 | +1 |
| 清仓 | —Cigna Holding | −0.11 | −<1 |
| 增持 | GISGeneral Mills | +0.10 | +1 |
| 新建仓 | NVSNovartis | +0.10 | +1 |
| 增持 | —Barra | +0.10 | +1 |
| 增持 | —Harris Corp del | +0.10 | +1 |
| 新建仓 | KEYKeycorp | +0.10 | +1 |
| 新建仓 | ZBHZimmer Biomet Holdings | +0.10 | +1 |
| 新建仓 | —Aol Time Warner Inc Com | +0.10 | +1 |
| 新建仓 | WWNPXKinetics Paradigm-No Load | +0.10 | +2 |
| 增持 | CVCCablevision Systems-Ny GRP | +0.10 | +1 |
| 新建仓 | —PXP Producing | +0.09 | +1 |
| 增持 | AVYAvery Dennison | +0.09 | +<1 |
| 新建仓 | PG宝侨Procter & Gamble | +0.09 | +<1 |
| 新建仓 | —SBC Communications, Inc Common | +0.09 | +<1 |
| 增持 | GPCGenuine Parts | +0.09 | +1 |
| 增持 | —Cadbury Schweppes P L C ADR | +0.09 | +1 |
| 新建仓 | SJTSan Juan Basin Royalty TR | +0.09 | +2 |
| 清仓 | —Rainbow Media Group | −0.08 | −1 |
| 清仓 | —Novartis Vaccines & Diagnost | −0.08 | −<1 |
| 清仓 | —Eidp | −0.08 | −1 |
| 减持 | —Sole Clark/bardes Holdings Inccommon | −0.08 | −1 |
| 清仓 | OMCOmnicom Group | −0.08 | −<1 |
| 增持 | CMXCaremark RX | +0.08 | +1 |
| 清仓 | OVIPVimpel-Com | −0.08 | −1 |
| 清仓 | NYTNew York Times | −0.08 | −<1 |
| 清仓 | APCAnadarko Petroleum | −0.08 | −<1 |
| 清仓 | —Loral Space & Communications L Com | −0.08 | −1 |
| 增持 | WFC富国银行Wells Fargo | +0.07 | +<1 |
| 新建仓 | TEMFXTempleton Foreign Fund | +0.07 | +2 |
| 清仓 | INTC英特尔Intel | −0.07 | −1 |
| 增持 | —Prentiss Properties Trust | +0.07 | +1 |
| 减持 | MTBM & T Bank | −0.06 | −<1 |
| 增持 | —Sole Finova Group Inccommon | +0.06 | +12 |
| 增持 | —Schering-Plough Corp/pre-Mer | +0.06 | +<1 |
| 增持 | WDFCWD-40 | +0.06 | +1 |
| 增持 | —Chevron Corp Common | +0.05 | +<1 |
| 增持 | BAC美国银行Bank of America | +0.05 | +<1 |
| 增持 | —Bank One | +0.05 | +<1 |
| 增持 | PHGKoninklijke Philips | +0.05 | +1 |
| 增持 | LVMHYLVMH | +0.05 | +2 |
| 减持 | BDX碧迪医疗Becton Dickinson | −0.04 | −<1 |
| 新建仓 | BOYBH Lodging | +0.04 | +1 |
| 新建仓 | RYPNXRoyce S-Cap Opportunity F-In | +0.04 | +1 |
| 增持 | CINFCincinnati Financial | +0.04 | +<1 |
| 增持 | —Lexisnexis Risk Assets | +0.04 | +<1 |
| 减持 | AMAT应用材料Applied Materials | −0.04 | −<1 |
| 增持 | GHCGraham Holdings | +0.04 | +<1 |
| 增持 | —Viacom Inc CL B Comm Com | +0.04 | +<1 |
| 清仓 | —Excel Legacy | −0.04 | −3 |
| 清仓 | NCNXQNucentrix Broadband Networks | −0.04 | −1 |
| 减持 | UNP联合太平洋铁路Union Pacific | −0.03 | −<1 |
| 增持 | AXP美国运通American Express | +0.03 | +<1 |
| 增持 | —Minnesota MNG & MFG Co (3M) Com | +0.03 | +<1 |
| 增持 | —Lynch Interactive Corp Com | +0.03 | +<1 |
| 新建仓 | WEBNFWestpac Banking | +0.03 | +1 |
| 增持 | —Vodafone Group PLC ADR | +0.03 | +<1 |
| 减持 | RXIQVIA | −0.03 | −<1 |
| 增持 | KO可口可乐Coca-Cola | +0.03 | +<1 |
| 新建仓 | —Sole Price Legacy Corpcommon | +0.02 | +2 |
| 增持 | —Scripps E W Co CL A Com | +0.02 | +<1 |
| 增持 | CACICaci International | +0.02 | +<1 |
| 增持 | —Motorola Solutions | +0.02 | +<1 |
| 增持 | —Pico Holdings | +0.02 | +<1 |
| 减持 | —Jefferies Financial Group | −0.02 | −<1 |
| 增持 | FITBFifth Third Bancorp | +0.02 | +<1 |
| 增持 | —USA Ed Com | +0.02 | +<1 |
| 新建仓 | PCAGYPrimacom | +0.02 | +2 |
| 减持 | TXN德州仪器Texas Instruments | −0.02 | −<1 |
| 增持 | —Commonwealth Telephone Entrp | +0.02 | +<1 |
| 减持 | —BKF Capital Group, Inc Com | −0.01 | −<1 |
| 增持 | BABoeing | +0.01 | +<1 |
| 增持 | MSEXMiddlesex Water | +0.01 | +<1 |
| 清仓 | —Sunshine PCS Corp Com | −0.01 | −1 |
| 减持 | UCOMAUnitedglobalcom | −0.01 | −1 |
| 增持 | —Pier 1 Imports | +0.01 | +<1 |
| 增持 | DUCDuff & Phelps Util & Corp BD | +0.01 | +<1 |
| 增持 | RCNCQRCN | +0.01 | +<1 |
| 减持 | —Compucom Systems | −<0.01 | −<1 |
| 减持 | ABCPAmBase | −<0.01 | −1 |
| 增持 | FCE.AForest City Realty Trust | +<0.01 | +<1 |
| 减持 | NSCNorfolk Southern | −<0.01 | −<1 |
| 增持 | PMREPrime Retail | +<0.01 | +2 |
| 新建仓 | SLUPSolucorp Industries | +<0.01 | +2 |
| 清仓 | HABEHaber | −<0.01 | −4 |
| 增持 | MTRMMig | +<0.01 | +<1 |
| 增持 | —Dell Computer Corp Com Com | +<0.01 | +<1 |
| 增持 | —Lsi | +<0.01 | +<1 |
| 减持 | —Liberty Livewire Corp CL A Com | −<0.01 | −<1 |
| 减持 | GIGXGiga Information Group | −<0.01 | −<1 |
| 增持 | ACLRAccent Color Sciences | +<0.01 | +1 |
| 减持 | VLFIQVlasic Foods International | −<0.01 | −<1 |
| 增持 | OFISQU S Office Products | +<0.01 | +<1 |
*本季只有季初价或季末价其中一个，估计成交价用那一个价格。
完整持股（165 家公司）
同一家公司的 A／B／C 股合并成一列（股数换算成表上那一行业）；点击表头可重新排序。
怎么看？
估计平均成本：每次增持的股数 ×（季初价＋季末价）÷ 2 的加权平均，减持不改变成本；1999 年第一季（或这位巨人最早一份电子申报）之前就持有的仓位，从那个季度的季末价起算，标“起算点”。相对成本＝季末价 ÷ 估计平均成本 − 1，不含股息。
| 公司 | ?占投资组合 | 市值（亿美元） | 本季动向 | 季末价 | ?相对成本 |
|---|---|---|---|---|---|
| —Berkshire Hathaway | 7.0%上季 7.6% | 0.16 | 增持 +5% | $2,330.00 | +23% |
| —American International Group | 4.5%上季 4.7% | 0.11 | 增持 +21% | $78.00 | +25% |
| GHCGraham Holdings | 4.5%上季 5.7% | 0.11 | 增持 +1% | $519.80 | +1% |
| JNJ娇生Johnson & Johnson | 3.7%上季 3.3% | 0.09 | 增持 +17% | $55.40 | +18% |
| —Servicemaster | 3.6%上季 4.3% | 0.09 | 增持 +5% | $11.09 | −20% |
| —American Home Prods Corp Com | 3.6%上季 4.0% | 0.09 | 增持 +5% | $58.25 | +12% |
| —Merck Sharp & Dohme | 3.5%上季 3.2% | 0.08 | 增持 +19% | $66.60 | −1% |
| —Barra | 3.3%上季 3.4% | 0.08 | 增持 +3% | $42.02 | +30% |
| PFEPfizer | 3.2%上季 3.3% | 0.08 | 增持 +12% | $40.10 | −3% |
| ABT亚培Abbott Laboratories | 2.9%上季 2.7% | 0.07 | 增持 +18% | $51.85 | +33% |
| IFF国际香料香精International Flavors & Fragrances | 2.7%上季 3.2% | 0.06 | 减持 −12% | $27.69 | +43% |
| PWCDFPower Corp of Canada | 2.6%上季 2.4% | 0.06 | 增持 +32% | $22.02 | −3% |
| AGMFederal Agricultural Mortgage | 2.3%上季 2.7% | 0.05 | 减持 −6% | $33.38 | +92% |
| BMYBristol-Myers Squibb | 2.2%上季 2.2% | 0.05 | 增持 +7% | $55.56 | −16% |
| —Wesco Financial | 1.9%上季 2.8% | 0.04 | 减持 −7% | $290.10 | +12% |
| —Exxon Corp Com | 1.7%上季 — | 0.04 | 新建仓 | $39.40 | 0% |
| WTMWhite Mountains Insurance Group | 1.6%上季 1.6% | 0.04 | 增持 +36% | $333.00 | −6% |
| AXP美国运通American Express | 1.4%上季 2.2% | 0.03 | 增持 +2% | $29.06 | −35% |
| YAlleghany | 1.4%上季 1.4% | 0.03 | 增持 +13% | $199.00 | −2% |
| FMCCFreddie Mac | 1.2%上季 1.0% | 0.03 | 增持 +48% | $65.00 | +14% |
| —General Electric | 1.2%上季 1.3% | 0.03 | 增持 +41% | $37.20 | −10% |
| SCHW嘉信理财Charles Schwab | 1.1%上季 1.8% | 0.03 | 不变 | $11.50 | −48% |
| MTBM & T Bank | 1.1%上季 1.4% | 0.03 | 减持 −5% | $74.00 | +61% |
| —Philip Morris Com | 1.1%上季 0.7% | 0.03 | 增持 +90% | $48.29 | +18% |
| DIS迪士尼Walt Disney | 1.0%上季 2.0% | 0.02 | 减持 −10% | $18.62 | −31% |
| FNMAFannie Mae | 1.0%上季 0.1% | 0.02 | 增持 +946% | $80.06 | −2% |
| —Jefferies Financial Group | 0.9%上季 1.1% | 0.02 | 减持 −2% | $31.20 | +33% |
| —Bank of New York Com | 0.8%上季 0.8% | 0.02 | 增持 +65% | $35.00 | −4% |
| RDPLRoyal Dutch Petro-Ny Shares | 0.8%上季 0.7% | 0.02 | 增持 +52% | $50.25 | −11% |
| BPBP | 0.8%上季 0.7% | 0.02 | 增持 +24% | $49.17 | −6% |
| —Alliance Capital Mgmt. Holding Com | 0.7%上季 0.2% | 0.02 | 增持 +378% | $45.70 | −2% |
| DLXDeluxe | 0.7%上季 0.4% | 0.02 | 增持 +100% | $34.54 | +27% |
| IBMIBMInternational Business Machines | 0.7%上季 1.0% | 0.02 | 不变 | $91.72 | −15% |
| PEP百事PepsiCo | 0.7%上季 0.4% | 0.02 | 增持 +80% | $48.50 | +8% |
| —Texaco | 0.6%上季 0.4% | 0.02 | 增持 +108% | $65.00 | +1% |
| —Pall | 0.6%上季 0.7% | 0.02 | 增持 +35% | $19.45 | −13% |
| VZ威瑞森Verizon Communications | 0.6%上季 0.3% | 0.01 | 增持 +154% | $54.11 | +2% |
| KROLKroll | 0.6%上季 — | 0.01 | 新建仓 | $11.39 | 0% |
| MSFT微软Microsoft | 0.6%上季 0.4% | 0.01 | 增持 +132% | $51.17 | −9% |
| —Pharmacia | 0.6%上季 0.3% | 0.01 | 增持 +167% | $40.56 | −14% |
| —Schering-Plough Corp/pre-Mer | 0.6%上季 0.6% | 0.01 | 增持 +11% | $37.10 | −14% |
| RTN.ARaytheon | 0.5%上季 0.2% | 0.01 | 增持 +255% | $34.75 | +13% |
| ADPAutomatic Data Processing | 0.5%上季 0.3% | 0.01 | 增持 +149% | $47.04 | −3% |
| —Northrop Grumman Space & Mis | 0.5%上季 0.4% | 0.01 | 增持 +96% | $29.82 | −25% |
| CINFCincinnati Financial | 0.5%上季 0.5% | 0.01 | 增持 +8% | $41.62 | +8% |
| —Citigroup | 0.5%上季 0.5% | 0.01 | 增持 +44% | $40.50 | −15% |
| —Liberty Interactive | 0.5%上季 — | 0.01 | 新建仓 | $12.70 | −16% |
| NPPNuveen Perf Plus Muni FD | 0.5%上季 0.3% | 0.01 | 增持 +74% | $14.27 | +8% |
| —Avis Budget Group | 0.5%上季 0.6% | 0.01 | 增持 +36% | $12.80 | −11% |
| NXLNexalin Technology | 0.4%上季 0.2% | 0.01 | 增持 +198% | $17.10 | +12% |
| —USA Ed Com | 0.4%上季 0.4% | 0.01 | 增持 +5% | $82.91 | +87% |
| FNMCFFranco Nevada Mining | 0.4%上季 0.1% | 0.01 | 增持 +197% | $14.35 | +13% |
| CLColgate-Palmolive | 0.4%上季 0.1% | 0.01 | 增持 +233% | $58.25 | +6% |
| MFINMedallion Financial | 0.4%上季 0.2% | 0.01 | 增持 +158% | $8.25 | −14% |
| VNOVornado Realty Trust | 0.4%上季 0.2% | 0.01 | 增持 +135% | $39.70 | +7% |
| RAIReynolds American | 0.4%上季 0.2% | 0.01 | 增持 +150% | $57.14 | +15% |
| —Honeywell International | 0.4%上季 0.2% | 0.01 | 增持 +184% | $26.40 | −22% |
| —Harris Corp del | 0.4%上季 0.3% | 0.01 | 增持 +39% | $31.82 | +13% |
| ROKRockwell Automation | 0.4%上季 — | 0.01 | 新建仓 | $14.68 | −44% |
| WFC富国银行Wells Fargo | 0.4%上季 0.3% | 0.01 | 增持 +25% | $44.45 | +9% |
| —Ust | 0.3%上季 0.2% | 0.01 | 增持 +75% | $33.20 | +46% |
| CVCCablevision Systems-Ny GRP | 0.3%上季 0.4% | 0.01 | 增持 +40% | $40.94 | −35% |
| —Lexisnexis Risk Assets | 0.3%上季 0.3% | 0.01 | 增持 +13% | $41.64 | +4% |
| DHR丹纳赫Danaher | 0.3%上季 0.2% | 0.01 | 增持 +99% | $47.18 | −9% |
| EOPEquity Office Properties TR | 0.3%上季 0.2% | 0.01 | 增持 +59% | $32.00 | +5% |
| KMPKinder Morgan Energy Prtnrs | 0.3%上季 0.2% | 0.01 | 增持 +319% | $34.61 | −32% |
| GPCGenuine Parts | 0.3%上季 0.3% | 0.01 | 增持 +40% | $31.86 | +8% |
| EFXEquifax | 0.3%上季 0.3% | 0.01 | 增持 +78% | $21.90 | −23% |
| SLB斯伦贝谢SLB | 0.3%上季 0.2% | 0.01 | 增持 +76% | $45.70 | −20% |
| CSCO思科Cisco Systems | 0.3%上季 0.2% | 0.01 | 增持 +191% | $12.18 | −57% |
| MUOPioneer Interest Shares | 0.3%上季 0.4% | 0.01 | 不变 | $11.30 | +6% |
| —Telephone & Data Systems | 0.3%上季 0.4% | 0.01 | 不变 | $94.30 | −5% |
| —Lynch Interactive Corp Com | 0.3%上季 0.4% | 0.01 | 增持 +11% | $49.50 | −1% |
| DUCDuff & Phelps Util & Corp BD | 0.3%上季 0.3% | 0.01 | 增持 +2% | $12.95 | +12% |
| —Chevron Corp Common | 0.3%上季 0.3% | 0.01 | 增持 +24% | $84.75 | −4% |
| —Motorola Solutions | 0.3%上季 0.3% | 0.01 | 增持 +9% | $15.60 | −80% |
| LLY礼来Eli Lilly | 0.3%上季 0.3% | 0.01 | 不变 | $80.70 | +7% |
| GISGeneral Mills | 0.3%上季 0.2% | 0.01 | 增持 +66% | $45.50 | +8% |
| —Scripps E W Co CL A Com | 0.3%上季 0.3% | 0.01 | 增持 +10% | $60.91 | +18% |
| —Vivendi | 0.2%上季 — | 0.01 | 新建仓 | $46.35 | −11% |
| FCE.AForest City Realty Trust | 0.2%上季 0.3% | 0.01 | 增持 +1% | $48.00 | +108% |
| —Tremont Advisers | 0.2%上季 0.3% | 0.01 | 不变 | $18.96 | +57% |
| WMT沃尔玛Walmart | 0.2%上季 — | 0.01 | 新建仓 | $49.50 | +1% |
| —Perspecta Enterprise Solutio | 0.2%上季 0.3% | 0.01 | 不变 | $57.58 | −2% |
| GLWCorning | 0.2%上季 0.2% | 0.01 | 增持 +99% | $8.82 | −70% |
| CMXCaremark RX | 0.2%上季 0.2% | 0.01 | 增持 +59% | $16.68 | +26% |
| CPMNYCentral Pac Mineral-Unsp ADR | 0.2%上季 — | 0.01 | 新建仓 | $1.50 | 0% |
| TXUEnergy Future Holdings | 0.2%上季 — | 0.01 | 新建仓 | $46.32 | −2% |
| HNZKraft Heinz Foods | 0.2%上季 0.2% | <0.01 | 不变 | $42.15 | +4% |
| BAC美国银行Bank of America | 0.2%上季 0.2% | <0.01 | 增持 +34% | $58.40 | +4% |
| AVYAvery Dennison | 0.2%上季 0.1% | <0.01 | 增持 +81% | $47.31 | −11% |
| SRESempra | 0.2%上季 — | <0.01 | 新建仓 | $24.75 | −5% |
| —Prentiss Properties Trust | 0.2%上季 0.1% | <0.01 | 增持 +55% | $27.50 | +15% |
| —Commonwealth Telephone Entrp | 0.2%上季 0.2% | <0.01 | 增持 +9% | $36.75 | −21% |
| CACICaci International | 0.2%上季 0.2% | <0.01 | 增持 +14% | $54.63 | +41% |
| —Wachovia | 0.2%上季 — | <0.01 | 新建仓 | $31.00 | 0% |
| —Pier 1 Imports | 0.2%上季 0.3% | <0.01 | 增持 +4% | $8.30 | +23% |
| —BKF Capital Group, Inc Com | 0.2%上季 0.3% | <0.01 | 减持 −7% | $27.00 | +86% |
| —Guidant | 0.2%上季 0.2% | <0.01 | 不变 | $38.50 | +7% |
| CYNCyngn | 0.2%上季 — | <0.01 | 新建仓 | $43.15 | 0% |
| —Cadbury Schweppes P L C ADR | 0.2%上季 0.1% | <0.01 | 增持 +114% | $25.40 | −5% |
| RXIQVIA | 0.2%上季 0.3% | <0.01 | 减持 −13% | $25.00 | +20% |
| ARTNAArtesian Resources | 0.2%上季 — | <0.01 | 新建仓 | $26.17 | −2% |
| —Pico Holdings | 0.2%上季 0.2% | <0.01 | 增持 +16% | $11.00 | −14% |
| —Sole Clark/bardes Holdings Inccommon | 0.2%上季 0.3% | <0.01 | 减持 −34% | $21.56 | +115% |
| BABoeing | 0.2%上季 0.3% | <0.01 | 增持 +7% | $33.50 | −23% |
| —Bank One | 0.2%上季 0.1% | <0.01 | 增持 +51% | $31.47 | −6% |
| PHGKoninklijke Philips | 0.2%上季 0.2% | <0.01 | 增持 +50% | $19.31 | −43% |
| STTState Street | 0.2%上季 — | <0.01 | 新建仓 | $45.50 | −4% |
| UNP联合太平洋铁路Union Pacific | 0.2%上季 0.2% | <0.01 | 减持 −18% | $46.90 | −6% |
| WDFCWD-40 | 0.2%上季 0.1% | <0.01 | 增持 +60% | $20.55 | −4% |
| —Minnesota MNG & MFG Co (3M) Com | 0.1%上季 0.2% | <0.01 | 增持 +26% | $98.40 | 0% |
| —Certegy Inc Common | 0.1%上季 — | <0.01 | 新建仓 | $25.96 | 0% |
| KO可口可乐Coca-Cola | 0.1%上季 0.1% | <0.01 | 增持 +21% | $46.85 | −3% |
| AMAT应用材料Applied Materials | 0.1%上季 0.4% | <0.01 | 减持 −20% | $28.44 | −68% |
| LEHMQLehman Brothers Holdings | 0.1%上季 0.2% | <0.01 | 不变 | $56.85 | −19% |
| —Bank of Bermuda | 0.1%上季 — | <0.01 | 新建仓 | $43.45 | 0% |
| MFCManulife Financial | 0.1%上季 — | <0.01 | 新建仓 | $26.21 | −3% |
| FITBFifth Third Bancorp | 0.1%上季 0.1% | <0.01 | 增持 +19% | $61.48 | +1% |
| LVMHYLVMH | 0.1%上季 0.1% | <0.01 | 增持 +58% | $6.50 | −75% |
| —Dell Computer Corp Com Com | 0.1%上季 0.2% | <0.01 | 增持 +1% | $18.53 | −15% |
| BDX碧迪医疗Becton Dickinson | 0.1%上季 0.2% | <0.01 | 减持 −26% | $37.00 | +32% |
| —Vodafone Group PLC ADR | 0.1%上季 0.1% | <0.01 | 增持 +29% | $21.96 | −25% |
| —Viacom Inc CL B Comm Com | 0.1%上季 0.1% | <0.01 | 增持 +44% | $34.50 | −37% |
| —Great Lakes REIT | 0.1%上季 — | <0.01 | 新建仓 | $16.30 | 0% |
| NSCNorfolk Southern | 0.1%上季 0.2% | <0.01 | 减持 −2% | $16.12 | −17% |
| —ConocoPhillips | 0.1%上季 — | <0.01 | 新建仓 | $53.94 | −3% |
| GMSTGemstar-Tv Guide International | 0.1%上季 — | <0.01 | 新建仓 | $19.71 | −37% |
| EMREmerson Electric | 0.1%上季 — | <0.01 | 新建仓 | $47.06 | −12% |
| NVSNovartis | 0.1%上季 — | <0.01 | 新建仓 | $38.92 | +4% |
| KEYKeycorp | 0.1%上季 — | <0.01 | 新建仓 | $24.14 | −4% |
| ZBHZimmer Biomet Holdings | 0.1%上季 — | <0.01 | 新建仓 | $27.75 | 0% |
| —Aol Time Warner Inc Com | 0.1%上季 — | <0.01 | 新建仓 | $33.10 | −23% |
| WWNPXKinetics Paradigm-No Load | 0.1%上季 — | <0.01 | 新建仓 | $10.15 | 0% |
| —Tegna | 0.1%上季 0.1% | <0.01 | 不变 | $60.11 | −20% |
| MSEXMiddlesex Water | 0.1%上季 0.1% | <0.01 | 增持 +11% | $33.00 | +2% |
| —PXP Producing | 0.1%上季 — | <0.01 | 新建仓 | $23.50 | −1% |
| RCNCQRCN | 0.1%上季 0.2% | <0.01 | 增持 +7% | $3.20 | −89% |
| PG宝侨Procter & Gamble | 0.1%上季 — | <0.01 | 新建仓 | $72.79 | +7% |
| —SBC Communications, Inc Common | 0.1%上季 — | <0.01 | 新建仓 | $47.12 | +8% |
| SJTSan Juan Basin Royalty TR | 0.1%上季 — | <0.01 | 新建仓 | $10.32 | 0% |
| TXN德州仪器Texas Instruments | 0.1%上季 0.2% | <0.01 | 减持 −15% | $24.98 | −21% |
| —Lsi | 0.1%上季 0.1% | <0.01 | 增持 +1% | $11.75 | −32% |
| —Sole Finova Group Inccommon | 0.1%上季 0.1% | <0.01 | 增持 +325% | $1.12 | −55% |
| ACGLArch Capital Group | 0.1%上季 0.1% | <0.01 | 不变 | $16.75 | +4% |
| TEMFXTempleton Foreign Fund | 0.1%上季 — | <0.01 | 新建仓 | $8.55 | 0% |
| —Sole Euronext NV Amsterdam SHS Common | 0.1%上季 0.1% | <0.01 | 不变 | $0.58 | −28% |
| PIKJandy | 0.1%上季 0.1% | <0.01 | 不变 | $8.00 | +10% |
| ABCPAmBase | <0.1%上季 0.1% | <0.01 | 减持 −7% | $0.92 | +13% |
| BOYBH Lodging | <0.1%上季 — | <0.01 | 新建仓 | $8.00 | 0% |
| RYPNXRoyce S-Cap Opportunity F-In | <0.1%上季 — | <0.01 | 新建仓 | $7.53 | 0% |
| —Liberty Livewire Corp CL A Com | <0.1%上季 <0.1% | <0.01 | 减持 −1% | $6.73 | −89% |
| WEBNFWestpac Banking | <0.1%上季 — | <0.01 | 新建仓 | $6.56 | 0% |
| —Sole Price Legacy Corpcommon | <0.1%上季 — | <0.01 | 新建仓 | $3.08 | 0% |
| —Compucom Systems | <0.1%上季 <0.1% | <0.01 | 减持 −18% | $2.60 | +19% |
| PCAGYPrimacom | <0.1%上季 — | <0.01 | 新建仓 | $1.90 | 0% |
| —Sole Access Pharmaceuticals Inccommon | <0.1%上季 <0.1% | <0.01 | 不变 | $2.70 | −8% |
| UCOMAUnitedglobalcom | <0.1%上季 0.1% | <0.01 | 减持 −36% | $2.37 | −96% |
| MTRMMig | <0.1%上季 <0.1% | <0.01 | 增持 +11% | $1.20 | −61% |
| GIGXGiga Information Group | <0.1%上季 <0.1% | <0.01 | 减持 −5% | $0.93 | −91% |
| PMREPrime Retail | <0.1%上季 <0.1% | <0.01 | 增持 +140% | $0.17 | −90% |
| SLUPSolucorp Industries | <0.1%上季 — | <0.01 | 新建仓 | $0.15 | 0% |
| ACLRAccent Color Sciences | <0.1%上季 <0.1% | <0.01 | 增持 +3% | $0.01 | −99% |
| VLFIQVlasic Foods International | <0.1%上季 <0.1% | <0.01 | 减持 −5% | $0.01 | −99% |
| OFISQU S Office Products | <0.1%上季 <0.1% | <0.01 | 增持 +7% | $0.01 | −100% |
投资组合地图：面积是占投资组合，颜色是相对成本
怎么看？
每一格是一家公司（最多 60 家），面积＝占投资组合比重。颜色越深代表季末价高于（或低于）估计成本越多：浅色 5–25%、中间 25–100%、最深 100% 以上；灰色是差距在 5% 以内。
高于成本低于成本相差 5% 以内
长期趋势
1999 Q3 起，共 9 个季度（这位巨人的电子 13F 申报期间）。
13F 市值
持股家数
前十大集中度
换手率（估）
行业配置
信息技术金融通信与媒体可选消费工业医疗保健能源其他（含未分类）
每季度记录与原始申报
＊＝那个季度未列入整体统计。链接打开 SEC 原始申报；13F-HR/A 是修正申报。
已清仓的大仓位
曾占投资组合 2% 以上、后来全部卖出的仓位（最近 40 个）：只列持有期间与公司后来的状况，不列损益。
怎么看？
“清仓”是指 13F 上不再出现，原因可能是卖出，也可能是公司被并购或退市。公司状况只对巨人合计曾持有 1 亿美元以上的公司核查，来自那家公司自己的 SEC 文件（例如 8-K 项目 1.03＝申请破产）；“—”表示没有核查。
| 公司 | 持有期间 | 最高占投资组合 | 公司后来 |
|---|---|---|---|
| WTMWhite Mountains Insurance Group | 2001 Q2 – 2007 Q3 | 7% | — |
| —Bank of New York Com | 1999 Q3 – 2007 Q3 | 5% | — |
| —Servicemaster | 1999 Q3 – 2007 Q3 | 4% | 被并购或退市 2015-09-30 |
| JNJ娇生Johnson & Johnson | 1999 Q3 – 2007 Q1 | 4% | — |
| IFF国际香料香精International Flavors & Fragrances | 2000 Q4 – 2007 Q1 | 3% | — |
| CINFCincinnati Financial | 1999 Q3 – 2007 Q1 | 2% | — |
| ABT亚培Abbott Laboratories | 1999 Q3 – 2006 Q2 | 4% | — |
| DLXDeluxe | 2000 Q3 – 2006 Q2 | 2% | — |
| —American International Group | 1999 Q3 – 2006 Q1 | 5% | 公司仍正常申报 |
| —Jefferies Financial Group | 2000 Q2 – 2005 Q2 | 6% | 公司仍正常申报 |
| DIS迪士尼Walt Disney | 1999 Q3 – 2005 Q1 | 5% | — |
| AXP美国运通American Express | 1999 Q3 – 2004 Q4 | 4% | — |
| —Merck Sharp & Dohme | 1999 Q3 – 2004 Q4 | 4% | 被并购或退市 2010-01-12 |
| —Dell Computer Corp Com Com | 2001 Q1 – 2004 Q3 | 2% | — |
| —Barra | 1999 Q3 – 2004 Q2 | 5% | — |
| —Citigroup | 1999 Q3 – 2003 Q4 | 4% | 公司仍正常申报 |
| —Sole Clark/bardes Holdings Inccommon | 2000 Q4 – 2003 Q2 | 9% | — |
| FMCCFreddie Mac | 1999 Q3 – 2003 Q1 | 3% | 公司仍正常申报 |
| AGMFederal Agricultural Mortgage | 1999 Q3 – 2002 Q2 | 3% | — |
| —American Home Prods Corp Com | 1999 Q3 – 2002 Q1 | 4% | — |
| —Berkshire Hathaway | 1999 Q3 – 2001 Q4 | 8% | 公司仍正常申报 |
| RXIQVIA | 1999 Q3 – 2001 Q4 | 5% | 被并购或退市 2010-03-08 |
| RCNCQRCN | 1999 Q3 – 2001 Q4 | 3% | — |
| —AT&T | 1999 Q3 – 2001 Q3 | 3% | 被并购或退市 2006-01-03 |