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← Dodge & Cox, its record

Dodge & Cox and Capital Research Global Investors: where the books meet

At Q2 2026, 20% of the two 13F books was the same, across 104 stocks both listed, against 18% at Q2 2013. Overlap is the smaller of each shared stock’s two weights, added up: the part of one book that could be swapped for the other’s without a trade.

Overlap by quarter
0%10%21%Q2 2013: 18%, 85 in bothQ3 2013: 16%, 85 in bothQ4 2013: 15%, 85 in bothQ1 2014: 14%, 85 in both14Q2 2014: 12%, 79 in bothQ3 2014: 12%, 95 in bothQ4 2014: 11%, 95 in bothQ1 2015: 9.3%, 90 in both15Q2 2015: 11%, 85 in bothQ3 2015: 13%, 88 in bothQ4 2015: 12%, 86 in bothQ1 2016: 11%, 91 in both16Q2 2016: 11%, 83 in bothQ3 2016: 11%, 82 in bothQ4 2016: 14%, 86 in bothQ1 2017: 15%, 86 in both17Q2 2017: 15%, 89 in bothQ3 2017: 16%, 85 in bothQ4 2017: 16%, 86 in bothQ1 2018: 16%, 86 in both18Q2 2018: 16%, 88 in bothQ3 2018: 15%, 98 in bothQ4 2018: 15%, 95 in bothQ1 2019: 15%, 96 in both19Q2 2019: 14%, 93 in bothQ3 2019: 13%, 95 in bothQ4 2019: 14%, 93 in bothQ1 2020: 14%, 88 in both20Q2 2020: 14%, 100 in bothQ3 2020: 14%, 93 in bothQ4 2020: 14%, 88 in bothQ1 2021: 13%, 93 in both21Q2 2021: 14%, 89 in bothQ3 2021: 14%, 87 in bothQ4 2021: 15%, 83 in bothQ1 2022: 16%, 86 in both22Q2 2022: 17%, 86 in bothQ3 2022: 17%, 84 in bothQ4 2022: 17%, 80 in bothQ1 2023: 20%, 84 in both23Q2 2023: 20%, 83 in bothQ3 2023: 20%, 80 in bothQ4 2023: 20%, 83 in bothQ1 2024: 19%, 84 in both24Q2 2024: 21%, 92 in bothQ3 2024: 21%, 91 in bothQ4 2024: 21%, 97 in bothQ1 2025: 20%, 106 in both25Q2 2025: 19%, 105 in bothQ3 2025: 20%, 107 in bothQ4 2025: 20%, 108 in bothQ1 2026: 19%, 115 in both26Q2 2026: 20%, 104 in both
  • Q2 2013: 18%, 85 in both
  • Q3 2013: 16%, 85 in both
  • Q4 2013: 15%, 85 in both
  • Q1 2014: 14%, 85 in both
  • Q2 2014: 12%, 79 in both
  • Q3 2014: 12%, 95 in both
  • Q4 2014: 11%, 95 in both
  • Q1 2015: 9.3%, 90 in both
  • Q2 2015: 11%, 85 in both
  • Q3 2015: 13%, 88 in both
  • Q4 2015: 12%, 86 in both
  • Q1 2016: 11%, 91 in both
  • Q2 2016: 11%, 83 in both
  • Q3 2016: 11%, 82 in both
  • Q4 2016: 14%, 86 in both
  • Q1 2017: 15%, 86 in both
  • Q2 2017: 15%, 89 in both
  • Q3 2017: 16%, 85 in both
  • Q4 2017: 16%, 86 in both
  • Q1 2018: 16%, 86 in both
  • Q2 2018: 16%, 88 in both
  • Q3 2018: 15%, 98 in both
  • Q4 2018: 15%, 95 in both
  • Q1 2019: 15%, 96 in both
  • Q2 2019: 14%, 93 in both
  • Q3 2019: 13%, 95 in both
  • Q4 2019: 14%, 93 in both
  • Q1 2020: 14%, 88 in both
  • Q2 2020: 14%, 100 in both
  • Q3 2020: 14%, 93 in both
  • Q4 2020: 14%, 88 in both
  • Q1 2021: 13%, 93 in both
  • Q2 2021: 14%, 89 in both
  • Q3 2021: 14%, 87 in both
  • Q4 2021: 15%, 83 in both
  • Q1 2022: 16%, 86 in both
  • Q2 2022: 17%, 86 in both
  • Q3 2022: 17%, 84 in both
  • Q4 2022: 17%, 80 in both
  • Q1 2023: 20%, 84 in both
  • Q2 2023: 20%, 83 in both
  • Q3 2023: 20%, 80 in both
  • Q4 2023: 20%, 83 in both
  • Q1 2024: 19%, 84 in both
  • Q2 2024: 21%, 92 in both
  • Q3 2024: 21%, 91 in both
  • Q4 2024: 21%, 97 in both
  • Q1 2025: 20%, 106 in both
  • Q2 2025: 19%, 105 in both
  • Q3 2025: 20%, 107 in both
  • Q4 2025: 20%, 108 in both
  • Q1 2026: 19%, 115 in both
  • Q2 2026: 20%, 104 in both

Only quarters both managers filed. Where either filing has more positions than are read each quarter, a stock both hold below that range is not counted, so the figure is a floor.

What the overlap is made of, Q2 2026

Stocks both listed, by the smaller of the two weights. A weight is the stock’s share of that manager’s reported book, which says how large the position is, not how strongly it is held.

StockDodge & CoxCapital Research Global Investors
Microsoft Corp(MSFT)2.5%Added4.9%Trimmed
Alphabet Inc(GOOG)2.2%Trimmed2.1%Added
Amazon.com Inc(AMZN)2.1%Added4.0%Added
Alphabet Inc(GOOGL)2.0%Added3.1%Added
Facebook Inc(META)1.9%Added3.1%Added
Raytheon Technologies Corp(RTX)3.5%Trimmed1.4%Added
Carrier Global Corp(CARR)1.1%Added1.1%Trimmed
Wells Fargo & Co(WFC)1.4%Added0.9%Added
Dominion Resources Inc/va(D)0.7%Trimmed0.7%Added
Unitedhealth Group Inc(UNH)2.0%Trimmed0.6%Trimmed
Air Products & Chemicals Inc(APD)1.4%Added0.4%Added
Comcast Corp-class A(CMCSA)1.5%Added0.4%Added
Linde PLC(LIN)0.4%Held1.3%Added
Taiwan Semiconductor Manufacturing Co., Ltd.(TSM)0.4%Added0.7%Added
CVS Health Corp(CVS)2.7%Trimmed0.4%Added
Gilead Sciences Inc(GILD)1.6%Trimmed0.3%Trimmed
Alnylam Pharmaceuticals Inc(ALNY)0.3%Added0.4%Added
Thermo Fisher Scientific Inc(TMO)0.8%Added0.3%Trimmed
Booking Holdings Inc(BKNG)2.4%Added0.2%Added
Visa Inc(V)1.0%Added0.2%Trimmed

and 84 smaller ones

Moved different ways in Q2 2026

Stocks one manager started or added to while the other trimmed or sold out, between the same two quarter ends. A 13F shows the quarter ends, never when in between anything was bought or sold, or why.

  • Microsoft Corp(MSFT)Dodge & Cox added; Capital Research Global Investors trimmed
  • Alphabet Inc(GOOG)Dodge & Cox trimmed; Capital Research Global Investors added
  • Raytheon Technologies Corp(RTX)Dodge & Cox trimmed; Capital Research Global Investors added
  • JPMorgan Chase & Co(JPM)Dodge & Cox trimmed; Capital Research Global Investors added
  • Cisco Systems Inc(CSCO)Dodge & Cox trimmed; Capital Research Global Investors added
  • Carrier Global Corp(CARR)Dodge & Cox added; Capital Research Global Investors trimmed
  • Corning Inc(GLW)Dodge & Cox trimmed; Capital Research Global Investors added
  • Home Depot Inc(HD)Dodge & Cox trimmed; Capital Research Global Investors added
  • CVS Health Corp(CVS)Dodge & Cox trimmed; Capital Research Global Investors added
  • Dominion Resources Inc/va(D)Dodge & Cox trimmed; Capital Research Global Investors added
  • Union Pacific Corp(UNP)Dodge & Cox trimmed; Capital Research Global Investors added
  • Humana, Inc.(HUM)Dodge & Cox trimmed; Capital Research Global Investors added
Dodge & Cox: the recordCapital Research Global Investors: the record

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