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2026 Q2：3 位巨人持有，综合权重 0.02%，共识排名第 173；本季 0 位买入、1 位卖出。季末价 $156.72（2026-06-30）。

持有人数

上季 3 位

综合权重

0.02%

共识排名第 173

季末价

$156.72

2026-06-30

巨人的平均成本估

$74.36

季末价比这个平均高 111%（每位巨人的成本各算一次）

3 位巨人持有

依占投资组合比重排序；点名字看那位巨人的持股历程。

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；1999 年第一季（或这位巨人最早的电子申报）之前就持有的，从那个季度的季末价起算。13F 看不到实际成交价。

巨人	?占投资组合	股数（万股）	市值（亿美元）	首次买入	持有季度数	?估计平均成本	?相对成本	本季动向
Tweedy, Browne	0.8%	7	0.11	1999 Q1	110	$51.12起算点	+207%	不变
Thomas Kahn	0.3%	1	0.02	1999 Q1	110	$83.18起算点	+88%	减持
Sarah Ketterer	<0.1%	<1	<0.01	2005 Q4	83	$88.78起算点	+77%	不变

成本地图：3 位中有 3 位的估计成本低于季末价

每一行是一位巨人：圆点是估计平均成本（越大＝占投资组合越重），金色直线是最新季末价。

成本低于季末价（账面浮盈）成本高于季末价（账面浮亏）季末价

季末价走势（已按拆股调整）

1999 Q3 起，也就是巨人第一次持有的那个季度；悬停看当季持有人数与买卖人数。

怎么看？

价格是 13F 申报的季末市值 ÷ 股数，约等于季末收盘价，不是即时价格；拆股前的价格已换算成今天的股数。

越来越多还是越来越少巨人持有

持有人数

每季度买家与卖家（近 20 个季度）

买入卖出

综合权重（悬停看排名）

持股历程

点开一位巨人：他从什么时候开始持有、哪几季买卖、估计成本怎么变化。表格只列有买卖的季度和最新一季。

怎么看？

图中的价格与成本都换算成今天的股数（已按拆股调整）；表格里是当季实际的数字。估计成交价＝（季初价＋季末价）÷ 2，只代表大致价位。

Tweedy, Browne 0.8%·1999 Q1 起

巨人页 →

季末价累计估计成本估计成交价（买／卖）

季度	动作	股数变动（万股）	持股（万股）	占投资组合	季初价 → 季末价	估计成交价	累计估计成本
2026 Q2	不变	—	7	0.8%	$152.75 → $156.72	—	$51.12
2026 Q1	减持	−<1	7	0.9%	$137.87 → $152.75	$145.31	$51.12
2025 Q4	减持	−<1	7	0.8%	$128.24 → $137.87	$133.05	$51.12
2025 Q3	减持	−<1	8	0.8%	$121.01 → $128.24	$124.62	$51.12
2025 Q2	减持	−<1	8	0.9%	$111.48 → $121.01	$116.25	$51.12
2025 Q1	减持	−<1	8	0.8%	$97.31 → $111.48	$104.40	$51.12
2024 Q4	减持	−<1	8	0.5%	$115.02 → $97.31	$106.17	$51.12
2024 Q3	减持	−<1	9	0.5%	$106.46 → $115.02	$110.74	$51.12
2024 Q2	减持	−<1	9	0.4%	$96.73 → $106.46	$101.60	$51.12
2024 Q1	减持	−<1	9	0.4%	$100.97 → $96.73	$98.85	$51.12
2023 Q4	减持	−<1	9	0.4%	$101.86 → $100.97	$101.42	$51.12
2023 Q3	减持	−<1	9	0.5%	$100.91 → $101.86	$101.38	$51.12
2023 Q2	减持	−<1	10	0.5%	$92.00 → $100.91	$96.45	$51.12
2023 Q1	减持	−<1	10	0.5%	$90.72 → $92.00	$91.36	$51.12
2022 Q4	减持	−<1	10	0.5%	$76.01 → $90.72	$83.37	$51.12
2022 Q3	增持	+<1	10	0.3%	$84.53 → $76.01	$80.27	$51.12
2022 Q2	减持	−<1	10	0.3%	$87.75 → $84.53	$86.14	$50.44
2022 Q1	减持	−<1	10	0.3%	$87.47 → $87.75	$87.61	$50.44
2021 Q4	减持	−1	11	0.3%	$81.78 → $87.47	$84.63	$50.44
2021 Q3	减持	−<1	11	0.3%	$91.24 → $81.78	$86.51	$50.44
2021 Q2	减持	−1	12	0.3%	$85.48 → $91.24	$88.36	$50.44
2021 Q1	减持	−<1	13	0.3%	$94.43 → $85.48	$89.95	$50.44
2020 Q4	减持	−1	13	0.4%	$86.96 → $94.43	$90.69	$50.44
2020 Q3	减持	−<1	14	0.5%	$87.34 → $86.96	$87.15	$50.44
2020 Q2	减持	−1	14	0.5%	$82.45 → $87.34	$84.90	$50.44
2020 Q1	减持	−<1	15	0.6%	$94.69 → $82.45	$88.57	$50.44
2019 Q4	减持	−<1	15	0.5%	$86.90 → $94.69	$90.79	$50.44
2019 Q3	减持	−<1	16	0.5%	$91.31 → $86.90	$89.11	$50.44
2019 Q2	减持	−<1	16	0.5%	$96.14 → $91.31	$93.73	$50.44
2019 Q1	减持	−1	16	0.5%	$85.81 → $96.14	$90.97	$50.44
2018 Q4	减持	−1	17	0.5%	$86.16 → $85.81	$85.98	$50.44
2018 Q3	减持	−<1	18	0.5%	$75.54 → $86.16	$80.85	$50.44
2018 Q2	减持	−<1	18	0.4%	$80.85 → $75.54	$78.19	$50.44
2018 Q1	减持	−<1	19	0.5%	$83.96 → $80.85	$82.40	$50.44
2017 Q4	减持	−1	19	0.4%	$85.85 → $83.96	$84.91	$50.44
2017 Q2	减持	−1	20	0.5%	$74.27 → $83.47	$78.87	$50.44
2017 Q1	减持	−1	20	0.4%	$72.84 → $74.27	$73.56	$50.44
2016 Q4	减持	−<1	22	0.5%	$78.96 → $72.84	$75.90	$50.44
2016 Q3	减持	−1	22	0.5%	$82.51 → $78.96	$80.73	$50.44
2016 Q2	减持	−<1	23	0.5%	$72.44 → $82.51	$77.47	$50.44
2016 Q1	减持	−<1	24	0.5%	$86.04 → $72.44	$79.24	$50.44
2015 Q4	减持	−1	24	0.6%	$91.92 → $86.04	$88.98	$50.44
2015 Q3	减持	−1	25	0.7%	$98.34 → $91.92	$95.13	$50.44
2015 Q2	减持	−1	25	0.7%	$98.61 → $98.34	$98.47	$50.44
2015 Q1	减持	−1	26	0.7%	$92.66 → $98.61	$95.64	$50.44
2014 Q4	减持	−2	27	0.6%	$94.13 → $92.66	$93.40	$50.44
2014 Q3	减持	−<1	28	0.6%	$90.53 → $94.13	$92.33	$50.44
2014 Q2	减持	−<1	29	0.6%	$85.02 → $90.53	$87.77	$50.44
2013 Q4	减持	−<1	29	0.5%	$76.71 → $80.38	$78.55	$50.44
2013 Q2	减持	−1	30	0.5%	$71.24 → $70.71	$70.97	$50.44
2012 Q3	减持	−2	30	0.7%	$55.90 → $61.26	$58.58	$50.44
2012 Q1	减持	−2	32	0.6%	$57.17 → $55.41	$56.29	$50.44
2011 Q4	减持	−1	34	0.7%	$55.77 → $57.17	$56.47	$50.44
2011 Q3	减持	−<1	35	0.8%	$61.11 → $55.77	$58.44	$50.44
2011 Q2	减持	−1	35	0.7%	$54.35 → $61.11	$57.73	$50.44
2011 Q1	减持	−1	36	0.7%	$58.95 → $54.35	$56.65	$50.44
2010 Q4	减持	−1	36	0.8%	$57.67 → $58.95	$58.31	$50.44
2010 Q3	减持	−1	37	0.8%	$48.32 → $57.67	$52.99	$50.44
2010 Q2	减持	−2	38	0.8%	$54.10 → $48.32	$51.21	$50.44
2010 Q1	减持	−3	40	0.9%	$54.43 → $54.10	$54.26	$50.44
2009 Q4	增持	+3	42	0.9%	$50.38 → $54.43	$52.40	$50.44
2009 Q3	增持	+25	40	1.2%	$40.79 → $50.38	$45.58	$50.31
2009 Q2	增持	+<1	14	0.4%	$37.83 → $40.79	$39.31	$58.59
2009 Q1	减持	−1	14	0.4%	$49.76 → $37.83	$43.79	$59.12
2008 Q4	减持	−<1	15	0.5%	$52.84 → $49.76	$51.30	$59.12
2008 Q3	减持	−1	16	0.5%	$55.04 → $52.84	$53.94	$59.12
2008 Q2	减持	−<1	17	0.5%	$51.23 → $55.04	$53.14	$59.12
2008 Q1	减持	−<1	17	0.4%	$54.31 → $51.23	$52.77	$59.12
2007 Q4	减持	−<1	17	0.4%	$54.96 → $54.31	$54.63	$59.12
2007 Q3	减持	−<1	18	0.4%	$56.07 → $54.96	$55.51	$59.12
2007 Q2	减持	−1	18	0.3%	$54.63 → $56.07	$55.35	$59.12
2007 Q1	减持	−1	19	0.3%	$57.44 → $54.63	$56.04	$59.12
2006 Q4	减持	−6	20	0.3%	$58.44 → $57.44	$57.94	$59.12
2006 Q3	增持	+<1	25	0.5%	$53.92 → $58.44	$56.18	$59.12
2006 Q2	减持	−<1	25	0.5%	$55.44 → $53.92	$54.68	$59.17
2006 Q1	减持	−5	25	0.5%	$52.48 → $55.44	$53.96	$59.17
2005 Q4	减持	−4	30	0.6%	$51.00 → $52.48	$51.74	$59.17
2005 Q3	减持	−1	34	0.6%	$47.44 → $51.00	$49.22	$59.17
2005 Q2	减持	−1	35	0.6%	$46.78 → $47.44	$47.11	$59.17
2005 Q1	减持	−1	36	0.6%	$50.54 → $46.78	$48.66	$59.17
2004 Q4	减持	−1	37	0.6%	$46.67 → $50.54	$48.60	$59.17
2004 Q3	减持	−1	38	0.6%	$44.50 → $46.67	$45.58	$59.17
2004 Q2	减持	−1	39	0.6%	$42.60 → $44.50	$43.55	$59.17
2004 Q1	增持	+<1	40	0.6%	$45.89 → $42.60	$44.24	$59.17
2003 Q4	减持	−3	39	0.6%	$38.84 → $45.89	$42.36	$59.32
2003 Q3	增持	+1	42	0.6%	$39.81 → $38.84	$39.32	$59.32
2003 Q2	增持	+4	42	0.6%	$37.06 → $39.81	$38.44	$59.60
2003 Q1	减持	−1	38	0.5%	$36.73 → $37.06	$36.90	$61.55
2002 Q4	增持	+1	39	0.5%	$39.73 → $36.73	$38.23	$61.55
2002 Q3	减持	−1	38	0.5%	$43.83 → $39.73	$41.78	$61.99
2002 Q1	增持	+1	39	0.4%	$36.50 → $39.60	$38.05	$61.99
2001 Q4	增持	+<1	38	0.4%	$38.92 → $36.50	$37.71	$62.71
2001 Q3	增持	+1	38	0.4%	$36.15 → $38.92	$37.53	$62.99
2001 Q2	增持	+1	37	0.3%	$39.33 → $36.15	$37.74	$63.71
2001 Q1	增持	+1	35	0.3%	$44.75 → $39.33	$42.04	$64.80
2000 Q2	增持	+18	34	0.4%	$68.39 → $40.00	$54.19	$65.75
2000 Q1	增持	+1	15	0.3%	$75.14 → $68.39	$71.76	$79.45
1999 Q4	减持	−1	14	0.3%	$74.17 → $75.14	$74.66	$80.27

Thomas Kahn 0.3%·1999 Q1 起

巨人页 →

季末价累计估计成本估计成交价（买／卖）

季度	动作	股数变动（万股）	持股（万股）	占投资组合	季初价 → 季末价	估计成交价	累计估计成本
2026 Q2	减持	−<1	1	0.3%	$152.75 → $156.72	$154.73	$83.18
2026 Q1	减持	−<1	1	0.4%	$137.87 → $152.75	$145.31	$83.18
2025 Q4	减持	−<1	1	0.3%	$128.24 → $137.87	$133.05	$83.18
2025 Q3	减持	−<1	1	0.3%	$121.01 → $128.24	$124.62	$83.18
2025 Q2	减持	−<1	2	0.4%	$111.48 → $121.01	$116.25	$83.18
2025 Q1	增持	+<1	2	0.5%	$97.31 → $111.48	$104.40	$83.18
2024 Q4	增持	+<1	2	0.4%	$115.02 → $97.31	$106.17	$82.45
2024 Q2	增持	+<1	2	0.3%	$96.73 → $106.46	$101.60	$77.59
2024 Q1	减持	−<1	2	0.2%	$100.97 → $96.73	$98.85	$74.22
2023 Q4	减持	−<1	2	0.3%	$101.86 → $100.97	$101.42	$74.22
2022 Q4	减持	−<1	2	0.3%	$76.01 → $90.72	$83.37	$74.22
2022 Q2	增持	+<1	2	0.3%	$87.75 → $84.53	$86.14	$74.22
2021 Q4	增持	+<1	2	0.3%	$81.78 → $87.47	$84.63	$73.85
2021 Q1	减持	−<1	2	0.3%	$94.43 → $85.48	$89.95	$72.80
2020 Q4	减持	−<1	2	0.4%	$86.96 → $94.43	$90.69	$72.80
2020 Q2	减持	−<1	2	0.3%	$82.45 → $87.34	$84.90	$72.80
2020 Q1	减持	−<1	2	0.3%	$94.69 → $82.45	$88.57	$72.80
2019 Q2	增持	+<1	3	0.3%	$96.14 → $91.31	$93.73	$72.80
2018 Q4	减持	−<1	2	0.4%	$86.16 → $85.81	$85.98	$70.01
2018 Q2	增持	+<1	2	0.3%	$80.85 → $75.54	$78.19	$70.01
2018 Q1	减持	−<1	2	0.3%	$83.96 → $80.85	$82.40	$69.57
2017 Q4	增持	+<1	3	0.4%	$85.85 → $83.96	$84.91	$69.57
2017 Q2	减持	−<1	3	0.3%	$74.27 → $83.47	$78.87	$69.29
2017 Q1	增持	+<1	3	0.4%	$72.84 → $74.27	$73.56	$69.29
2016 Q4	减持	−<1	3	0.3%	$78.96 → $72.84	$75.90	$69.16
2015 Q4	减持	−<1	3	0.4%	$91.92 → $86.04	$88.98	$69.16
2015 Q3	增持	+<1	3	0.5%	$98.34 → $91.92	$95.13	$69.16
2015 Q2	减持	−<1	3	0.5%	$98.61 → $98.34	$98.47	$68.79
2014 Q4	增持	+<1	3	0.5%	$94.13 → $92.66	$93.40	$68.79
2014 Q3	增持	+<1	3	0.5%	$90.53 → $94.13	$92.33	$68.31
2014 Q2	减持	−<1	3	0.3%	$85.02 → $90.53	$87.77	$64.66
2014 Q1	增持	+<1	3	0.3%	$80.38 → $85.02	$82.70	$64.66
2013 Q4	减持	−<1	3	0.4%	$76.71 → $80.38	$78.55	$64.20
2013 Q3	减持	−<1	3	0.3%	$70.71 → $76.71	$73.71	$64.20
2013 Q2	减持	−<1	3	0.3%	$71.24 → $70.71	$70.97	$64.20
2013 Q1	减持	−1	3	0.4%	$63.30 → $71.24	$67.27	$64.20
2012 Q4	增持	+<1	4	0.5%	$61.26 → $63.30	$62.28	$64.20
2012 Q3	减持	−<1	4	0.4%	$55.90 → $61.26	$58.58	$64.40
2012 Q2	减持	−<1	4	0.4%	$55.41 → $55.90	$55.66	$64.40
2012 Q1	减持	−1	4	0.4%	$57.17 → $55.41	$56.29	$64.40
2011 Q4	减持	−<1	4	0.5%	$55.77 → $57.17	$56.47	$64.40
2011 Q3	减持	−<1	5	0.6%	$61.11 → $55.77	$58.44	$64.40
2011 Q2	增持	+<1	5	0.5%	$54.35 → $61.11	$57.73	$64.40
2011 Q1	减持	−4	5	0.4%	$58.95 → $54.35	$56.65	$64.66
2010 Q4	减持	−1	9	1.0%	$57.67 → $58.95	$58.31	$64.66
2010 Q3	减持	−<1	10	1.2%	$48.32 → $57.67	$52.99	$64.66
2010 Q2	减持	−5	10	1.1%	$54.10 → $48.32	$51.21	$64.66
2010 Q1	减持	−1	15	1.7%	$54.43 → $54.10	$54.26	$64.66
2009 Q4	减持	−<1	17	2.1%	$50.38 → $54.43	$52.40	$64.66
2009 Q3	减持	−<1	17	1.9%	$40.79 → $50.38	$45.58	$64.66
2009 Q2	增持	+<1	17	1.8%	$37.83 → $40.79	$39.31	$64.66
2009 Q1	减持	−1	17	1.8%	$49.76 → $37.83	$43.79	$65.04
2007 Q1	减持	−<1	18	1.5%	$57.44 → $54.63	$56.04	$65.36
2006 Q4	减持	−1	18	1.6%	$58.44 → $57.44	$57.94	$65.36
2006 Q1	减持	−<1	19	1.7%	$52.48 → $55.44	$53.96	$65.36
2005 Q4	减持	−1	19	1.7%	$51.00 → $52.48	$51.74	$65.36
2005 Q3	增持	+<1	20	1.6%	$47.44 → $51.00	$49.22	$65.36
2005 Q2	增持	+1	19	1.5%	$46.78 → $47.44	$47.11	$65.59
2004 Q2	减持	−<1	18	1.5%	$42.60 → $44.50	$43.55	$66.60
2004 Q1	减持	−1	18	1.4%	$45.89 → $42.60	$44.24	$66.60
2001 Q1	增持	+<1	19	3.0%	$44.75 → $39.33	$42.04	$67.19
2000 Q3	减持	−4	19	3.0%	$40.00 → $38.69	$39.34	$67.78
2000 Q2	增持	+11	23	3.9%	$68.39 → $40.00	$54.19	$67.78
1999 Q4	减持	−<1	12	3.1%	$74.17 → $75.14	$74.66	$81.11
1999 Q3	减持	−3	12	3.1%	$73.25 → $74.17	$73.71	$81.11

Sarah Ketterer <0.1%·2005 Q4 起

巨人页 →

季末价累计估计成本估计成交价（买／卖）

季度	动作	股数变动（万股）	持股（万股）	占投资组合	季初价 → 季末价	估计成交价	累计估计成本
2026 Q2	增持	+<1	<1	<0.1%	$152.75 → $156.72	$154.73	$88.78
2026 Q1	减持	−<1	<1	<0.1%	$137.87 → $152.75	$145.31	$88.16
2025 Q4	减持	−<1	<1	<0.1%	$128.24 → $137.87	$133.05	$88.16
2025 Q3	减持	−<1	<1	<0.1%	$121.01 → $128.24	$124.62	$88.16
2025 Q2	减持	−<1	<1	<0.1%	$111.48 → $121.01	$116.25	$88.16
2025 Q1	减持	−<1	<1	<0.1%	$97.31 → $111.48	$104.40	$88.16
2024 Q4	减持	−<1	1	<0.1%	$115.02 → $97.31	$106.17	$88.16
2024 Q3	减持	−19	1	<0.1%	$106.46 → $115.02	$110.74	$88.16
2024 Q2	减持	−4	20	0.6%	$96.73 → $106.46	$101.60	$88.16
2024 Q1	增持	+3	24	0.6%	$100.97 → $96.73	$98.85	$88.16
2023 Q4	增持	+2	21	0.5%	$101.86 → $100.97	$101.42	$86.61
2023 Q3	减持	−4	19	0.5%	$100.91 → $101.86	$101.38	$84.86
2023 Q2	减持	−2	23	0.6%	$92.00 → $100.91	$96.45	$84.86
2023 Q1	增持	+2	25	0.5%	$90.72 → $92.00	$91.36	$84.86
2022 Q4	减持	−5	22	0.6%	$76.01 → $90.72	$83.37	$84.20
2022 Q3	减持	−4	27	0.6%	$84.53 → $76.01	$80.27	$84.20
2022 Q2	减持	−8	31	0.7%	$87.75 → $84.53	$86.14	$84.20
2022 Q1	增持	+1	39	0.8%	$87.47 → $87.75	$87.61	$84.20
2021 Q4	减持	−2	38	0.7%	$81.78 → $87.47	$84.63	$84.11
2021 Q3	减持	−3	40	0.7%	$91.24 → $81.78	$86.51	$84.11
2021 Q2	增持	+3	43	0.8%	$85.48 → $91.24	$88.36	$84.11
2021 Q1	增持	+9	40	0.7%	$94.43 → $85.48	$89.95	$83.79
2020 Q4	减持	−1	31	0.5%	$86.96 → $94.43	$90.69	$81.94
2020 Q3	减持	−1	32	0.5%	$87.34 → $86.96	$87.15	$81.94
2020 Q1	增持	+3	33	0.4%	$94.69 → $82.45	$88.57	$81.94
2019 Q4	增持	+4	29	0.3%	$86.90 → $94.69	$90.79	$81.20
2019 Q3	减持	−2	26	0.3%	$91.31 → $86.90	$89.11	$79.86
2019 Q2	减持	−1	28	0.3%	$96.14 → $91.31	$93.73	$79.86
2019 Q1	减持	−1	28	0.3%	$85.81 → $96.14	$90.97	$79.86
2018 Q4	减持	−16	29	0.3%	$86.16 → $85.81	$85.98	$79.86
2018 Q3	减持	−1	45	0.4%	$75.54 → $86.16	$80.85	$79.86
2018 Q2	增持	+5	46	0.4%	$80.85 → $75.54	$78.19	$79.86
2018 Q1	增持	+7	41	0.4%	$83.96 → $80.85	$82.40	$80.07
2017 Q4	增持	+3	34	0.3%	$85.85 → $83.96	$84.91	$79.56
2017 Q3	减持	−6	31	0.3%	$83.47 → $85.85	$84.66	$79.09
2017 Q2	增持	+3	37	0.4%	$74.27 → $83.47	$78.87	$79.09
2017 Q1	增持	+2	34	0.3%	$72.84 → $74.27	$73.56	$79.11
2016 Q4	减持	−<1	32	0.4%	$78.96 → $72.84	$75.90	$79.46
2016 Q3	增持	+<1	32	0.5%	$82.51 → $78.96	$80.73	$79.46
2016 Q2	增持	+<1	32	0.6%	$72.44 → $82.51	$77.47	$79.45
2016 Q1	增持	+3	32	0.6%	$86.04 → $72.44	$79.24	$79.47
2015 Q4	增持	+2	28	0.5%	$91.92 → $86.04	$88.98	$79.50
2015 Q2	增持	+1	24	0.6%	$98.61 → $98.34	$98.47	$77.02
2015 Q1	减持	−11	22	0.6%	$92.66 → $98.61	$95.64	$75.67
2014 Q4	增持	+<1	34	0.9%	$94.13 → $92.66	$93.40	$75.67
2014 Q3	增持	+1	33	1.1%	$90.53 → $94.13	$92.33	$75.56
2014 Q2	减持	−1	32	1.1%	$85.02 → $90.53	$87.77	$74.86
2014 Q1	增持	+5	33	1.3%	$80.38 → $85.02	$82.70	$74.86
2013 Q4	增持	+21	28	1.3%	$76.71 → $80.38	$78.55	$73.59
2013 Q3	增持	+1	7	0.4%	$70.71 → $76.71	$73.71	$59.11