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← Farallon Capital Management LLC, its record

Farallon Capital Management LLC and Dodge & Cox: where the books meet

At Q2 2026, 9.3% of the two 13F books was the same, across 18 stocks both listed, against 3.9% 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%9%18%Q2 2013: 3.9%, 6 in bothQ3 2013: 8.8%, 8 in bothQ4 2013: 11%, 11 in bothQ1 2014: 11%, 9 in both14Q2 2014: 10%, 12 in bothQ3 2014: 14%, 13 in bothQ4 2014: 13%, 14 in bothQ1 2015: 13%, 12 in both15Q2 2015: 18%, 17 in bothQ3 2015: 14%, 14 in bothQ4 2015: 13%, 8 in bothQ1 2016: 14%, 8 in both16Q2 2016: 12%, 8 in bothQ3 2016: 8.6%, 8 in bothQ4 2016: 13%, 17 in bothQ1 2017: 14%, 15 in both17Q2 2017: 12%, 16 in bothQ3 2017: 12%, 17 in bothQ4 2017: 11%, 16 in bothQ1 2018: 12%, 18 in both18Q2 2018: 14%, 17 in bothQ3 2018: 15%, 16 in bothQ4 2018: 16%, 17 in bothQ1 2019: 13%, 19 in both19Q2 2019: 12%, 21 in bothQ3 2019: 10%, 17 in bothQ4 2019: 11%, 15 in bothQ1 2020: 11%, 11 in both20Q2 2020: 12%, 18 in bothQ3 2020: 13%, 16 in bothQ4 2020: 12%, 15 in bothQ1 2021: 11%, 14 in both21Q2 2021: 10%, 13 in bothQ3 2021: 11%, 15 in bothQ4 2021: 11%, 14 in bothQ1 2022: 8.4%, 13 in both22Q2 2022: 6.6%, 15 in bothQ3 2022: 6.9%, 16 in bothQ4 2022: 6.1%, 14 in bothQ1 2023: 8.5%, 15 in both23Q2 2023: 8.5%, 16 in bothQ3 2023: 11%, 18 in bothQ4 2023: 7.2%, 16 in bothQ1 2024: 5.6%, 14 in both24Q2 2024: 5.0%, 16 in bothQ3 2024: 5.6%, 15 in bothQ4 2024: 6.9%, 15 in bothQ1 2025: 6.1%, 16 in both25Q2 2025: 9.2%, 15 in bothQ3 2025: 9.9%, 16 in bothQ4 2025: 9.8%, 16 in bothQ1 2026: 11%, 23 in both26Q2 2026: 9.3%, 18 in both
  • Q2 2013: 3.9%, 6 in both
  • Q3 2013: 8.8%, 8 in both
  • Q4 2013: 11%, 11 in both
  • Q1 2014: 11%, 9 in both
  • Q2 2014: 10%, 12 in both
  • Q3 2014: 14%, 13 in both
  • Q4 2014: 13%, 14 in both
  • Q1 2015: 13%, 12 in both
  • Q2 2015: 18%, 17 in both
  • Q3 2015: 14%, 14 in both
  • Q4 2015: 13%, 8 in both
  • Q1 2016: 14%, 8 in both
  • Q2 2016: 12%, 8 in both
  • Q3 2016: 8.6%, 8 in both
  • Q4 2016: 13%, 17 in both
  • Q1 2017: 14%, 15 in both
  • Q2 2017: 12%, 16 in both
  • Q3 2017: 12%, 17 in both
  • Q4 2017: 11%, 16 in both
  • Q1 2018: 12%, 18 in both
  • Q2 2018: 14%, 17 in both
  • Q3 2018: 15%, 16 in both
  • Q4 2018: 16%, 17 in both
  • Q1 2019: 13%, 19 in both
  • Q2 2019: 12%, 21 in both
  • Q3 2019: 10%, 17 in both
  • Q4 2019: 11%, 15 in both
  • Q1 2020: 11%, 11 in both
  • Q2 2020: 12%, 18 in both
  • Q3 2020: 13%, 16 in both
  • Q4 2020: 12%, 15 in both
  • Q1 2021: 11%, 14 in both
  • Q2 2021: 10%, 13 in both
  • Q3 2021: 11%, 15 in both
  • Q4 2021: 11%, 14 in both
  • Q1 2022: 8.4%, 13 in both
  • Q2 2022: 6.6%, 15 in both
  • Q3 2022: 6.9%, 16 in both
  • Q4 2022: 6.1%, 14 in both
  • Q1 2023: 8.5%, 15 in both
  • Q2 2023: 8.5%, 16 in both
  • Q3 2023: 11%, 18 in both
  • Q4 2023: 7.2%, 16 in both
  • Q1 2024: 5.6%, 14 in both
  • Q2 2024: 5.0%, 16 in both
  • Q3 2024: 5.6%, 15 in both
  • Q4 2024: 6.9%, 15 in both
  • Q1 2025: 6.1%, 16 in both
  • Q2 2025: 9.2%, 15 in both
  • Q3 2025: 9.9%, 16 in both
  • Q4 2025: 9.8%, 16 in both
  • Q1 2026: 11%, 23 in both
  • Q2 2026: 9.3%, 18 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.

StockFarallon Capital Management LLCDodge & Cox
Amazon Com Inc(AMZN)2.9%Trimmed2.1%Added
Unitedhealth Group Inc(UNH)2.4%Trimmed2.0%Trimmed
Microsoft Corp(MSFT)1.9%Trimmed2.5%Added
Aon PLC(AON)2.1%Trimmed1.5%Added
Thermo Fisher Scientific Inc(TMO)2.4%Added0.8%Added
Novo-nordisk A S(NVO)0.6%Added0.5%Added
KKR & Co Inc(KKR)1.7%Trimmed0.4%New
Netease Com Inc(NTES)under 0.1%Trimmed0.1%Added
Novartis Ag-adr(NVS)0.3%Newunder 0.1%Trimmed
Merck & Co Inc(MRK)0.1%Trimmedunder 0.1%Trimmed
Astrazeneca PLC(AZN)0.5%Addedunder 0.1%Trimmed
Broadcom Inc(AVGO)2.0%Trimmedunder 0.1%Held
Johnson & Johnson(JNJ)0.5%Addedunder 0.1%Held
Synopsys Inc(SNPS)1.7%Trimmedunder 0.1%Trimmed
Boston Scientific Corp(BSX)2.1%Addedunder 0.1%Trimmed
Baidu Inc(BIDU)0.6%Addedunder 0.1%Trimmed
JOYY Inc(JOYY)0.2%Addedunder 0.1%Trimmed
Rio Tinto PLC(RIO)under 0.1%Addedunder 0.1%Held

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.

  • Schwab Charles Corp New(SCHW)Farallon Capital Management LLC sold out; Dodge & Cox added
  • Microsoft Corp(MSFT)Farallon Capital Management LLC trimmed; Dodge & Cox added
  • Amazon Com Inc(AMZN)Farallon Capital Management LLC trimmed; Dodge & Cox added
  • Aon PLC(AON)Farallon Capital Management LLC trimmed; Dodge & Cox added
  • Visa Inc(V)Farallon Capital Management LLC sold out; Dodge & Cox added
  • KKR & Co Inc(KKR)Farallon Capital Management LLC trimmed; Dodge & Cox started
  • Boston Scientific Corp(BSX)Farallon Capital Management LLC added; Dodge & Cox trimmed
  • Netease Com Inc(NTES)Farallon Capital Management LLC trimmed; Dodge & Cox added
  • Baidu Inc(BIDU)Farallon Capital Management LLC added; Dodge & Cox trimmed
  • Novartis Ag-adr(NVS)Farallon Capital Management LLC started; Dodge & Cox trimmed
  • Astrazeneca PLC(AZN)Farallon Capital Management LLC added; Dodge & Cox trimmed
  • JOYY Inc(JOYY)Farallon Capital Management LLC added; Dodge & Cox trimmed
Farallon Capital Management LLC: the recordDodge & Cox: the record

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