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← Dodge & Cox, its record

Dodge & Cox and MFS Investment Management: where the books meet

At Q2 2026, at least 20% of the two 13F books was the same, across 109 stocks both listed, against 14% 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%20%Q2 2013: 14%, 90 in bothQ3 2013: 15%, 90 in bothQ4 2013: 15%, 92 in bothQ1 2014: 17%, 94 in both14Q2 2014: 18%, 95 in bothQ3 2014: 17%, 110 in bothQ4 2014: 19%, 107 in bothQ1 2015: 18%, 106 in both15Q2 2015: 18%, 107 in bothQ3 2015: 18%, 109 in bothQ4 2015: 18%, 105 in bothQ1 2016: 17%, 115 in both16Q2 2016: 17%, 105 in bothQ3 2016: 18%, 105 in bothQ4 2016: 19%, 100 in bothQ1 2017: 18%, 98 in both17Q2 2017: 18%, 99 in bothQ3 2017: 18%, 96 in bothQ4 2017: 19%, 94 in bothQ1 2018: 19%, 92 in both18Q2 2018: 18%, 91 in bothQ3 2018: 19%, 100 in bothQ4 2018: 20%, 97 in bothQ1 2019: 19%, 95 in both19Q2 2019: 19%, 99 in bothQ3 2019: 18%, 99 in bothQ4 2019: 17%, 96 in bothQ1 2020: 16%, 94 in both20Q2 2020: 17%, 109 in bothQ3 2020: 16%, 100 in bothQ4 2020: 17%, 102 in bothQ1 2021: 16%, 104 in both21Q2 2021: 15%, 102 in bothQ3 2021: 15%, 101 in bothQ4 2021: 14%, 100 in bothQ1 2022: 15%, 102 in both22Q2 2022: 15%, 105 in bothQ3 2022: 16%, 99 in bothQ4 2022: 16%, 95 in bothQ1 2023: 16%, 101 in both23Q2 2023: 17%, 98 in bothQ3 2023: 17%, 104 in bothQ4 2023: 17%, 107 in bothQ1 2024: 17%, 105 in both24Q2 2024: 17%, 105 in bothQ3 2024: 17%, 109 in bothQ4 2024: 17%, 110 in bothQ1 2025: 16%, 111 in both25Q2 2025: 18%, 112 in bothQ3 2025: 18%, 111 in bothQ4 2025: 18%, 110 in bothQ1 2026: 19%, 110 in both26Q2 2026: 20%, 109 in both
  • Q2 2013: 14%, 90 in both
  • Q3 2013: 15%, 90 in both
  • Q4 2013: 15%, 92 in both
  • Q1 2014: 17%, 94 in both
  • Q2 2014: 18%, 95 in both
  • Q3 2014: 17%, 110 in both
  • Q4 2014: 19%, 107 in both
  • Q1 2015: 18%, 106 in both
  • Q2 2015: 18%, 107 in both
  • Q3 2015: 18%, 109 in both
  • Q4 2015: 18%, 105 in both
  • Q1 2016: 17%, 115 in both
  • Q2 2016: 17%, 105 in both
  • Q3 2016: 18%, 105 in both
  • Q4 2016: 19%, 100 in both
  • Q1 2017: 18%, 98 in both
  • Q2 2017: 18%, 99 in both
  • Q3 2017: 18%, 96 in both
  • Q4 2017: 19%, 94 in both
  • Q1 2018: 19%, 92 in both
  • Q2 2018: 18%, 91 in both
  • Q3 2018: 19%, 100 in both
  • Q4 2018: 20%, 97 in both
  • Q1 2019: 19%, 95 in both
  • Q2 2019: 19%, 99 in both
  • Q3 2019: 18%, 99 in both
  • Q4 2019: 17%, 96 in both
  • Q1 2020: 16%, 94 in both
  • Q2 2020: 17%, 109 in both
  • Q3 2020: 16%, 100 in both
  • Q4 2020: 17%, 102 in both
  • Q1 2021: 16%, 104 in both
  • Q2 2021: 15%, 102 in both
  • Q3 2021: 15%, 101 in both
  • Q4 2021: 14%, 100 in both
  • Q1 2022: 15%, 102 in both
  • Q2 2022: 15%, 105 in both
  • Q3 2022: 16%, 99 in both
  • Q4 2022: 16%, 95 in both
  • Q1 2023: 16%, 101 in both
  • Q2 2023: 17%, 98 in both
  • Q3 2023: 17%, 104 in both
  • Q4 2023: 17%, 107 in both
  • Q1 2024: 17%, 105 in both
  • Q2 2024: 17%, 105 in both
  • Q3 2024: 17%, 109 in both
  • Q4 2024: 17%, 110 in both
  • Q1 2025: 16%, 111 in both
  • Q2 2025: 18%, 112 in both
  • Q3 2025: 18%, 111 in both
  • Q4 2025: 18%, 110 in both
  • Q1 2026: 19%, 110 in both
  • Q2 2026: 20%, 109 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 & CoxMFS Investment Management
Microsoft Corp(MSFT)2.5%Added2.8%Trimmed
Amazon.com Inc(AMZN)2.1%Added2.8%Added
Alphabet Inc(GOOGL)2.0%Added3.3%Added
Cigna Corp(CI)1.8%Added0.9%Trimmed
UBS Group AG(UBS)0.9%Trimmed1.0%Trimmed
Aon PLC(AON)1.5%Added0.8%Trimmed
Visa Inc(V)1.0%Added0.8%Trimmed
Thermo Fisher Scientific Inc(TMO)0.8%Added0.7%Trimmed
Willis Towers Watson PLC(WTW)1.1%Added0.7%Trimmed
Raytheon Technologies Corp(RTX)3.5%Trimmed0.7%Trimmed
Schwab (charles) Corp(SCHW)3.7%Added0.7%Trimmed
Facebook Inc(META)1.9%Added0.7%Trimmed
Humana, Inc.(HUM)2.3%Trimmed0.5%Trimmed
Conocophillips(COP)0.5%Trimmed0.6%Trimmed
TransUnion(TRU)0.9%Added0.5%Trimmed
Dominion Resources Inc/va(D)0.7%Trimmed0.4%Trimmed
Linde PLC(LIN)0.4%Held1.0%Added
Taiwan Semiconductor Manufacturing Co., Ltd.(TSM)0.4%Added1.5%Trimmed
Wells Fargo & Co(WFC)1.4%Added0.3%Trimmed
Medtronic PLC(MDT)0.3%Added0.8%Trimmed

and 89 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.

  • Apple Inc(AAPL)Dodge & Cox trimmed; MFS Investment Management added
  • Microsoft Corp(MSFT)Dodge & Cox added; MFS Investment Management trimmed
  • Schwab (charles) Corp(SCHW)Dodge & Cox added; MFS Investment Management trimmed
  • Taiwan Semiconductor Manufacturing Co., Ltd.(TSM)Dodge & Cox added; MFS Investment Management trimmed
  • Alphabet Inc(GOOG)Dodge & Cox trimmed; MFS Investment Management added
  • Metlife Inc(MET)Dodge & Cox trimmed; MFS Investment Management added
  • Sunbelt Rentals Holdings, Inc.(SUNB)Dodge & Cox added; MFS Investment Management sold out
  • Facebook Inc(META)Dodge & Cox added; MFS Investment Management trimmed
  • TE Connectivity PLC(TEL)Dodge & Cox added; MFS Investment Management trimmed
  • Cigna Corp(CI)Dodge & Cox added; MFS Investment Management trimmed
  • Gilead Sciences Inc(GILD)Dodge & Cox trimmed; MFS Investment Management added
  • Aon PLC(AON)Dodge & Cox added; MFS Investment Management trimmed
Dodge & Cox: the recordMFS Investment Management: the record

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