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← Viking Global Investors LP, its record

Viking Global Investors LP and Dodge & Cox: where the books meet

At Q2 2026, 20% of the two 13F books was the same, across 24 stocks both listed, against 12% 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: 12%, 14 in bothQ3 2013: 17%, 14 in bothQ4 2013: 13%, 16 in bothQ1 2014: 9.3%, 14 in both14Q2 2014: 8.6%, 12 in bothQ3 2014: 7.8%, 22 in bothQ4 2014: 5.1%, 19 in bothQ1 2015: 7.0%, 17 in both15Q2 2015: 8.8%, 19 in bothQ3 2015: 5.0%, 16 in bothQ4 2015: 6.0%, 16 in bothQ1 2016: 4.7%, 16 in both16Q2 2016: 5.9%, 13 in bothQ3 2016: 12%, 19 in bothQ4 2016: 14%, 21 in bothQ1 2017: 14%, 22 in both17Q2 2017: 11%, 16 in bothQ3 2017: 9.6%, 18 in bothQ4 2017: 8.1%, 15 in bothQ1 2018: 7.7%, 11 in both18Q2 2018: 5.2%, 13 in bothQ3 2018: 4.7%, 13 in bothQ4 2018: 7.0%, 15 in bothQ1 2019: 9.0%, 16 in both19Q2 2019: 8.2%, 13 in bothQ3 2019: 5.9%, 12 in bothQ4 2019: 7.0%, 16 in bothQ1 2020: 14%, 16 in both20Q2 2020: 15%, 24 in bothQ3 2020: 13%, 21 in bothQ4 2020: 11%, 26 in bothQ1 2021: 9.4%, 24 in both21Q2 2021: 8.9%, 21 in bothQ3 2021: 9.1%, 21 in bothQ4 2021: 9.6%, 21 in bothQ1 2022: 10%, 23 in both22Q2 2022: 7.5%, 17 in bothQ3 2022: 10%, 21 in bothQ4 2022: 8.3%, 14 in bothQ1 2023: 8.4%, 17 in both23Q2 2023: 8.5%, 18 in bothQ3 2023: 9.4%, 18 in bothQ4 2023: 9.5%, 22 in bothQ1 2024: 9.9%, 22 in both24Q2 2024: 9.0%, 24 in bothQ3 2024: 10%, 26 in bothQ4 2024: 16%, 24 in bothQ1 2025: 14%, 23 in both25Q2 2025: 13%, 24 in bothQ3 2025: 17%, 23 in bothQ4 2025: 19%, 26 in bothQ1 2026: 20%, 25 in both26Q2 2026: 20%, 24 in both
  • Q2 2013: 12%, 14 in both
  • Q3 2013: 17%, 14 in both
  • Q4 2013: 13%, 16 in both
  • Q1 2014: 9.3%, 14 in both
  • Q2 2014: 8.6%, 12 in both
  • Q3 2014: 7.8%, 22 in both
  • Q4 2014: 5.1%, 19 in both
  • Q1 2015: 7.0%, 17 in both
  • Q2 2015: 8.8%, 19 in both
  • Q3 2015: 5.0%, 16 in both
  • Q4 2015: 6.0%, 16 in both
  • Q1 2016: 4.7%, 16 in both
  • Q2 2016: 5.9%, 13 in both
  • Q3 2016: 12%, 19 in both
  • Q4 2016: 14%, 21 in both
  • Q1 2017: 14%, 22 in both
  • Q2 2017: 11%, 16 in both
  • Q3 2017: 9.6%, 18 in both
  • Q4 2017: 8.1%, 15 in both
  • Q1 2018: 7.7%, 11 in both
  • Q2 2018: 5.2%, 13 in both
  • Q3 2018: 4.7%, 13 in both
  • Q4 2018: 7.0%, 15 in both
  • Q1 2019: 9.0%, 16 in both
  • Q2 2019: 8.2%, 13 in both
  • Q3 2019: 5.9%, 12 in both
  • Q4 2019: 7.0%, 16 in both
  • Q1 2020: 14%, 16 in both
  • Q2 2020: 15%, 24 in both
  • Q3 2020: 13%, 21 in both
  • Q4 2020: 11%, 26 in both
  • Q1 2021: 9.4%, 24 in both
  • Q2 2021: 8.9%, 21 in both
  • Q3 2021: 9.1%, 21 in both
  • Q4 2021: 9.6%, 21 in both
  • Q1 2022: 10%, 23 in both
  • Q2 2022: 7.5%, 17 in both
  • Q3 2022: 10%, 21 in both
  • Q4 2022: 8.3%, 14 in both
  • Q1 2023: 8.4%, 17 in both
  • Q2 2023: 8.5%, 18 in both
  • Q3 2023: 9.4%, 18 in both
  • Q4 2023: 9.5%, 22 in both
  • Q1 2024: 9.9%, 22 in both
  • Q2 2024: 9.0%, 24 in both
  • Q3 2024: 10%, 26 in both
  • Q4 2024: 16%, 24 in both
  • Q1 2025: 14%, 23 in both
  • Q2 2025: 13%, 24 in both
  • Q3 2025: 17%, 23 in both
  • Q4 2025: 19%, 26 in both
  • Q1 2026: 20%, 25 in both
  • Q2 2026: 20%, 24 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.

StockViking Global Investors LPDodge & Cox
Schwab Charles Corp New(SCHW)2.8%Trimmed3.7%Added
Amazon Com Inc(AMZN)2.5%Added2.1%Added
Facebook Inc(META)3.0%Added1.9%Added
Johnson CTLS Intl PLC(JCI)1.8%Trimmed4.3%Trimmed
Microsoft Corp(MSFT)1.6%Trimmed2.5%Added
Air Prods & Chems Inc(APD)4.0%Added1.4%Added
Fortive Corp(FTV)3.5%Trimmed1.4%Added
Fedex Corp(FDX)1.9%Added1.2%Trimmed
Aon PLC(AON)1.1%Added1.5%Added
CVS Health Corp(CVS)1.1%New2.7%Trimmed
Visa Inc(V)6.3%Added1.0%Added
Thermo Fisher Scientific Inc(TMO)2.8%Added0.8%Added
314352105(FDXF)1.0%New0.6%New
Biomarin Pharmaceutical Inc(BMRN)1.2%Added0.4%Added
Taiwan Semiconductor MFG LTD(TSM)4.3%Trimmed0.4%Added
UBS Group AG(UBS)0.3%New0.9%Trimmed
Capital One Finl Corp(COF)0.2%Trimmed1.0%Added
Union Pac Corp(UNP)1.6%Newunder 0.1%Trimmed
JPMorgan Chase & Co(JPM)2.7%Addedunder 0.1%Trimmed
Disney Walt Co(DIS)2.0%Trimmedunder 0.1%Trimmed

and 4 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.

  • Schwab Charles Corp New(SCHW)Viking Global Investors LP trimmed; Dodge & Cox added
  • CVS Health Corp(CVS)Viking Global Investors LP started; Dodge & Cox trimmed
  • Microsoft Corp(MSFT)Viking Global Investors LP trimmed; Dodge & Cox added
  • Alphabet Inc(GOOGL)Viking Global Investors LP sold out; Dodge & Cox added
  • Fortive Corp(FTV)Viking Global Investors LP trimmed; Dodge & Cox added
  • Fedex Corp(FDX)Viking Global Investors LP added; Dodge & Cox trimmed
  • Gallagher Arthur J & Co(AJG)Viking Global Investors LP sold out; Dodge & Cox added
  • Capital One Finl Corp(COF)Viking Global Investors LP trimmed; Dodge & Cox added
  • UBS Group AG(UBS)Viking Global Investors LP started; Dodge & Cox trimmed
  • Taiwan Semiconductor MFG LTD(TSM)Viking Global Investors LP trimmed; Dodge & Cox added
  • T Mobile US Inc(TMUS)Viking Global Investors LP sold out; Dodge & Cox added
  • Ralliant Corp(RAL)Viking Global Investors LP sold out; Dodge & Cox added
Viking Global Investors LP: the recordDodge & Cox: the record

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