What Dodge & Cox changed, 2013 to 2026
53 quarterly 13F filings, from Q2 2013 to Q2 2026, each read from the filing itself. A quarter is compared only with the quarter before it, so a quarter with no filing is a gap in the record, not a sale.
Reported book
$191bn
$84.2bn at Q2 2013
Positions
222
166 at Q2 2013
Top ten weight
28%
35% at Q2 2013
Typical quarterly turnover
about 4%
Estimated from share changes
- Q2 2013: $84.2bn
- Q3 2013: $88.0bn
- Q4 2013: $95.9bn
- Q1 2014: $97.8bn
- Q2 2014: $105bn
- Q3 2014: $105bn
- Q4 2014: $108bn
- Q1 2015: $109bn
- Q2 2015: $111bn
- Q3 2015: $99.4bn
- Q4 2015: $102bn
- Q1 2016: $102bn
- Q2 2016: $101bn
- Q3 2016: $106bn
- Q4 2016: $113bn
- Q1 2017: $118bn
- Q2 2017: $119bn
- Q3 2017: $124bn
- Q4 2017: $129bn
- Q1 2018: $124bn
- Q2 2018: $125bn
- Q3 2018: $131bn
- Q4 2018: $109bn
- Q1 2019: $122bn
- Q2 2019: $124bn
- Q3 2019: $122bn
- Q4 2019: $131bn
- Q1 2020: $92.4bn
- Q2 2020: $109bn
- Q3 2020: $109bn
- Q4 2020: $126bn
- Q1 2021: $140bn
- Q2 2021: $153bn
- Q3 2021: $154bn
- Q4 2021: $161bn
- Q1 2022: $165bn
- Q2 2022: $144bn
- Q3 2022: $132bn
- Q4 2022: $146bn
- Q1 2023: $147bn
- Q2 2023: $150bn
- Q3 2023: $148bn
- Q4 2023: $158bn
- Q1 2024: $172bn
- Q2 2024: $167bn
- Q3 2024: $177bn
- Q4 2024: $172bn
- Q1 2025: $175bn
- Q2 2025: $178bn
- Q3 2025: $185bn
- Q4 2025: $185bn
- Q1 2026: $182bn
- Q2 2026: $191bn
- Q2 2013: 35%
- Q3 2013: 35%
- Q4 2013: 35%
- Q1 2014: 36%
- Q2 2014: 35%
- Q3 2014: 35%
- Q4 2014: 35%
- Q1 2015: 34%
- Q2 2015: 35%
- Q3 2015: 36%
- Q4 2015: 35%
- Q1 2016: 33%
- Q2 2016: 32%
- Q3 2016: 32%
- Q4 2016: 33%
- Q1 2017: 32%
- Q2 2017: 31%
- Q3 2017: 29%
- Q4 2017: 30%
- Q1 2018: 31%
- Q2 2018: 30%
- Q3 2018: 30%
- Q4 2018: 30%
- Q1 2019: 31%
- Q2 2019: 31%
- Q3 2019: 32%
- Q4 2019: 31%
- Q1 2020: 32%
- Q2 2020: 30%
- Q3 2020: 32%
- Q4 2020: 32%
- Q1 2021: 32%
- Q2 2021: 31%
- Q3 2021: 32%
- Q4 2021: 31%
- Q1 2022: 30%
- Q2 2022: 30%
- Q3 2022: 30%
- Q4 2022: 30%
- Q1 2023: 29%
- Q2 2023: 30%
- Q3 2023: 29%
- Q4 2023: 29%
- Q1 2024: 29%
- Q2 2024: 30%
- Q3 2024: 28%
- Q4 2024: 29%
- Q1 2025: 29%
- Q2 2025: 29%
- Q3 2025: 28%
- Q4 2025: 27%
- Q1 2026: 27%
- Q2 2026: 28%
The positions that defined it
Every position that was ever among the 25 largest: when it first appeared, when it was largest, and where it stands in Q2 2026. The line is its reported value each quarter.
| Position | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Johnson Controls International(JCI) | Q3 2016 | $8.1bnQ2 2026 | $8.1bn | |
| Schwab (charles) Corp(SCHW) | Q2 2013 | $7.9bnQ3 2025 | $7.1bn | |
| Raytheon Technologies Corp(RTX) | Q2 2020 | $6.9bnQ4 2025 | $6.7bn | |
| CVS Health Corp(CVS) | Q1 2016 | $5.5bnQ3 2025 | $5.2bn | |
| Microsoft Corp(MSFT) | Q2 2013 | $4.8bnQ2 2026 | $4.8bn | |
| Booking Holdings Inc(BKNG) | Q1 2018 | $4.6bnQ2 2026 | $4.6bn | |
| Humana, Inc.(HUM) | Q2 2024 | $4.3bnQ2 2026 | $4.3bn | |
| Alphabet Inc(GOOG)Capital Stock Class C | Q4 2015 | $5.9bnQ4 2021 | $4.2bn | |
| Metlife Inc(MET) | Q2 2013 | $4.5bnQ3 2024 | $4.1bn | |
| Sunbelt Rentals Holdings, Inc.(SUNB) | Q1 2026 | $4.1bnQ2 2026 | $4.1bn | |
| Amazon.com Inc(AMZN) | Q3 2014 | $4.0bnQ2 2026 | $4.0bn | |
| Alphabet Inc(GOOGL)Capital Stock Class A | Q4 2015 | $3.8bnQ2 2026 | $3.8bn | |
| Hewlett-packard Co | Q2 2013 | $5.7bnQ4 2014 | Soldlast listed Q3 2015 | |
| Schlumberger LTD(SLB) | Q2 2013 | $4.9bnQ2 2015 | Soldlast listed Q2 2021 | |
| Wells Fargo & Co(WFC) | Q2 2017 | $3.9bnQ2 2017 | Soldlast listed Q2 2017 | |
| Glaxosmithkline Plc-spon ADRSponsored ADR | Q2 2013 | $3.9bnQ4 2021 | Soldlast listed Q2 2022 | |
| Express Scripts Holding Co | Q4 2013 | $3.8bnQ3 2018 | Soldlast listed Q3 2018 | |
| VMware IncClass A Common | Q4 2015 | $3.7bnQ2 2023 | Soldlast listed Q3 2023 | |
| Time Warner Cable | Q2 2013 | $3.7bnQ1 2016 | Soldlast listed Q1 2016 | |
| News CorpClass A | Q2 2013 | $3.4bnQ2 2018 | Soldlast listed Q4 2018 |
Quarter by quarter
Q2 2024: $167bn across 202 positions
Against Q1 2024: 7 new, 26 added to, 106 trimmed, 3 sold out, across all 202 positions.
Turnover about 3% of the book, estimated from share changes at quarter-end prices.
Largest additions
- Johnson Controls International (JCI)+$447m
- CVS Health Corp (CVS)+$372m
- International Flavors & Fragrances, Inc. (IFF)+$301m
- Norfolk Southern Corp (NSC)+$247m
- Charter Communications Inc (CHTR)+$131m
- Baidu Inc - Spon ADR (BIDU)+$110m
- Yum China Holdings Inc (YUMC)+$62m
- American Electric Power Co., Inc. (AEP)+$60m
Largest reductions
- Cigna Corp (CI)-$1.8bn
- Wells Fargo & Co (WFC)-$1.2bn
- Capital One Financial Corp (COF)-$870m
- Hewlett Packard Enterprise Co. (HPE)-$844m
- Microchip Technology Inc (MCHP)-$722m
- General Electric Co (GE)-$558m
- State Street Corp (STT)-$517m
- Fiserv Inc (FISV)-$409m
Opened
Nothing new among the largest positions.
Sold out
- Ovintiv Inc (OVV)was $450m
- ICICI Bank Ltd (IBN)was $527k
- Lincoln National Corp (LNC)was $271k
Largest positions, Q2 2024
The largest 25 of 202 reported positions.
| Position | Value | Weight | On the quarter |
|---|---|---|---|
| Schwab (charles) Corp (SCHW) | $6.3bn | 3.8% | Trimmed |
| Johnson Controls International (JCI) | $5.7bn | 3.4% | Added |
| Wells Fargo & Co (WFC) | $5.5bn | 3.3% | Trimmed |
| Alphabet Inc (GOOG) | $5.4bn | 3.2% | Trimmed |
| Fiserv Inc (FISV) | $5.1bn | 3.1% | Trimmed |
| Occidental Petroleum Corp (OXY) | $4.9bn | 3.0% | Trimmed |
| Raytheon Technologies Corp (RTX) | $4.4bn | 2.7% | Trimmed |
| Microsoft Corp (MSFT) | $4.2bn | 2.5% | Trimmed |
| Fedex Corp (FDX) | $4.0bn | 2.4% | Trimmed |
| Metlife Inc (MET) | $4.0bn | 2.4% | Trimmed |
| Sanofi-adr (SNY) | $3.7bn | 2.2% | Trimmed |
| CVS Health Corp (CVS) | $3.6bn | 2.2% | Added |
| Charter Communications Inc (CHTR) | $3.5bn | 2.1% | Added |
| Amazon.com Inc (AMZN) | $3.3bn | 2.0% | Trimmed |
| Bank of New York Mellon Corp (BNY) | $3.3bn | 2.0% | Trimmed |
| Booking Holdings Inc (BKNG) | $3.1bn | 1.9% | Trimmed |
| Fidelity National Information (FIS) | $3.1bn | 1.9% | Trimmed |
| Cigna Corp (CI) | $2.9bn | 1.8% | Trimmed |
| Comcast Corp-class A (CMCSA) | $2.8bn | 1.7% | Trimmed |
| Capital One Financial Corp (COF) | $2.8bn | 1.7% | Trimmed |
| International Flavors & Fragrances, Inc. (IFF) | $2.7bn | 1.6% | Added |
| Gsk plc (GSK) | $2.6bn | 1.6% | Trimmed |
| Goldman Sachs Group Inc (GS) | $2.5bn | 1.5% | Trimmed |
| Regeneron Pharmaceuticals Inc (REGN) | $2.4bn | 1.5% | Trimmed |
| Bank of America Corp (BAC) | $2.4bn | 1.4% | Trimmed |
The books most like this one
Among the managers whose filings are on file, at Q2 2026. Overlap is the share of the two books that is the same: for every stock both list, the smaller of its two weights, added up. Two books can overlap because both own the largest companies; it says nothing about whether the managers agree.
| Manager | Overlap | Stocks in both | Overlap over time | |
|---|---|---|---|---|
| MFS Investment Management | at least 20% | 109 | Compare | |
| Capital Research Global Investors | 20% | 104 | Compare | |
| Viking Global Investors LP | 20% | 24 | Compare | |
| Harris Associates LP | 20% | 61 | Compare | |
| Capital World Investors | at least 20% | 108 | Compare | |
| AllianceBernstein LP | at least 19% | 110 | Compare | |
| Arrowstreet Capital LP | at least 19% | 111 | Compare | |
| T. Rowe Price Associates Inc | at least 19% | 121 | Compare |
“At least” where either manager has more positions than are read each quarter: a stock both hold below that range is not counted.
The filings behind it
Every quarter above is one 13F holdings report, with any amendment the filer made to it applied in the order it was filed. Where the reporting entity changed, each quarter keeps the filer that actually reported it.
| Quarter | Filer | Book | Amended | Filing |
|---|---|---|---|---|
| Q2 2026 | Dodge & Cox | $191bn | 13F-HR | |
| Q1 2026 | Dodge & Cox | $182bn | 13F-HR | |
| Q4 2025 | Dodge & Cox | $185bn | 13F-HR | |
| Q3 2025 | Dodge & Cox | $185bn | 13F-HR | |
| Q2 2025 | Dodge & Cox | $178bn | 13F-HR | |
| Q1 2025 | Dodge & Cox | $175bn | 13F-HR | |
| Q4 2024 | Dodge & Cox | $172bn | 13F-HR | |
| Q3 2024 | Dodge & Cox | $177bn | 13F-HR | |
| Q2 2024 | Dodge & Cox | $167bn | 13F-HR | |
| Q1 2024 | Dodge & Cox | $172bn | 13F-HR | |
| Q4 2023 | Dodge & Cox | $158bn | 13F-HR | |
| Q3 2023 | Dodge & Cox | $148bn | 13F-HR | |
| Q2 2023 | Dodge & Cox | $150bn | 13F-HR | |
| Q1 2023 | Dodge & Cox | $147bn | 13F-HR | |
| Q4 2022 | Dodge & Cox | $146bn | 13F-HR | |
| Q3 2022 | Dodge & Cox | $132bn | 13F-HR | |
| Q2 2022 | Dodge & Cox | $144bn | 13F-HR | |
| Q1 2022 | Dodge & Cox | $165bn | 13F-HR | |
| Q4 2021 | Dodge & Cox | $161bn | 13F-HR | |
| Q3 2021 | Dodge & Cox | $154bn | 13F-HR | |
| Q2 2021 | Dodge & Cox | $153bn | 13F-HR | |
| Q1 2021 | Dodge & Cox | $140bn | 13F-HR | |
| Q4 2020 | Dodge & Cox | $126bn | 13F-HR | |
| Q3 2020 | Dodge & Cox | $109bn | 13F-HR | |
| Q2 2020 | Dodge & Cox | $109bn | 13F-HR | |
| Q1 2020 | Dodge & Cox | $92.4bn | 13F-HR | |
| Q4 2019 | Dodge & Cox | $131bn | 13F-HR | |
| Q3 2019 | Dodge & Cox | $122bn | 13F-HR | |
| Q2 2019 | Dodge & Cox | $124bn | 13F-HR | |
| Q1 2019 | Dodge & Cox | $122bn | 13F-HR | |
| Q4 2018 | Dodge & Cox | $109bn | 13F-HR | |
| Q3 2018 | Dodge & Cox | $131bn | 13F-HR | |
| Q2 2018 | Dodge & Cox | $125bn | 13F-HR | |
| Q1 2018 | Dodge & Cox | $124bn | 13F-HR | |
| Q4 2017 | Dodge & Cox | $129bn | 13F-HR | |
| Q3 2017 | Dodge & Cox | $124bn | 13F-HR | |
| Q2 2017 | Dodge & Cox | $119bn | 13F-HR | |
| Q1 2017 | Dodge & Cox | $118bn | 13F-HR | |
| Q4 2016 | Dodge & Cox | $113bn | 13F-HR | |
| Q3 2016 | Dodge & Cox | $106bn | 13F-HR | |
| Q2 2016 | Dodge & Cox | $101bn | 13F-HR | |
| Q1 2016 | Dodge & Cox | $102bn | 13F-HR | |
| Q4 2015 | Dodge & Cox | $102bn | 13F-HR | |
| Q3 2015 | Dodge & Cox | $99.4bn | 13F-HR | |
| Q2 2015 | Dodge & Cox | $111bn | 13F-HR | |
| Q1 2015 | Dodge & Cox | $109bn | 13F-HR | |
| Q4 2014 | Dodge & Cox | $108bn | 13F-HR | |
| Q3 2014 | Dodge & Cox | $105bn | 13F-HR | |
| Q2 2014 | Dodge & Cox | $105bn | 13F-HR | |
| Q1 2014 | Dodge & Cox | $97.8bn | 13F-HR | |
| Q4 2013 | Dodge & Cox | $95.9bn | 13F-HR | |
| Q3 2013 | Dodge & Cox | $88.0bn | 13F-HR | |
| Q2 2013 | Dodge & Cox | $84.2bn | 13F-HR |
Reading this record
A 13F lists US-listed long equity and options at the quarter end, filed up to 45 days later. It shows what was held, not when it was bought or at what price, and nothing short. Where a quarter lists only the largest positions, a name missing from it may still be held below that range; the counts of what was opened and sold always cover the whole filing.
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