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Livermore
Livermore
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Dodge & Cox

SEC CIK
0000200217
Latest filing
Aug 13, 2026

The latest 13F from Dodge & Cox covers Q2 2026 (filed Aug 13, 2026): 222 long positions worth $191.0B. The top 10 holdings make up 27.8% of the portfolio, and the largest is Johnson Controls International plc (JCI) at 4.3%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
9
Est. +$1.83B
Added
71
Est. +$15.5B
Reduced
92
Est. −$10.0B
Sold out
9
Est. −$1.42B

Top 5 holdings

Share of this quarter's portfolio value

  1. JCIJohnson Controls International plc
    4.3%$8.15BHistory
  2. SCHWSchwab Charles Corp
    3.7%$7.10BHistory
  3. RTXRTX Corp
    3.5%$6.66BHistory
  4. CVSCVS Health Corp
    2.7%$5.17BHistory
  5. MSFTMicrosoft Corp
    2.5%$4.79BHistory

Biggest buys

New and added positions, by estimated amount bought

  1. BKNGBooking Holdings Inc.
    +$4.37BAddedHistory
  2. VVisa Inc.
    +$1.86BAddedHistory
  3. TMOThermo Fisher Scientific Inc.
    +$1.52BAddedHistory
  4. ROPRoper Technologies Inc
    +$1.26BAddedHistory
  5. FDXFFedEx Freight Holding Company, Inc.
    +$1.08BNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. VVisa Inc.
    +0.97 pp<0.1% → 1.0%History
  2. TMOThermo Fisher Scientific Inc.
    +0.79 pp<0.1% → 0.8%History
  3. ROPRoper Technologies Inc
    +0.60 pp0.7% → 1.3%History
  4. FDXFFedEx Freight Holding Company, Inc.
    +0.57 pp0.0% → 0.6%History
  5. KKRKKR & Co. Inc.
    +0.39 pp0.0% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. LYBLyondellBasell Industries N.V.
    −$1.36BSold outHistory
  2. GSGoldman Sachs Group Inc
    −$1.26BReducedHistory
  3. NSCNorfolk Southern Corp
    −$1.18BReducedHistory
  4. BNYBank of New York Mellon Corp
    −$982.4MReducedHistory
  5. NVSNovartis AG
    −$972.9MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. OXYOccidental Petroleum Corp
    −0.80 pp2.6% → 1.9%History
  2. FDXFedEx Corp
    −0.77 pp2.0% → 1.2%History
  3. LYBLyondellBasell Industries N.V.
    −0.75 pp0.7% → 0.0%History
  4. NSCNorfolk Southern Corp
    −0.57 pp1.0% → 0.4%History
  5. GSGoldman Sachs Group Inc
    −0.57 pp0.6% → 0.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$191.0B
+$9.03B (+5.0%) vs. prior quarter
Positions
222
0 vs. prior quarter
Top 10 concentration
27.8%
Top 10 as share of value
Turnover
6.1%
Q2 2026, one quarter
Average holding period
17.2 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $191.0B (Q2 2026)

Q1 2021: $139.9BQ2 2021: $152.9BQ3 2021: $153.5BQ4 2021: $161.5BQ1 2022: $164.6BQ2 2022: $144.5BQ3 2022: $132.0BQ4 2022: $145.8BQ1 2023: $146.8BQ2 2023: $149.9BQ3 2023: $148.4BQ4 2023: $157.6BQ1 2024: $172.4BQ2 2024: $166.6BQ3 2024: $176.8BQ4 2024: $171.8BQ1 2025: $175.5BQ2 2025: $178.0BQ3 2025: $185.3BQ4 2025: $185.3BQ1 2026: $182.0BQ2 2026: $191.0B
Q1 2021Q2 2026
13F filings of Dodge & Cox by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 2026222$191.0BJCISCHWRTXvs. Q1 2026SEC
Q1 2026May 14, 2026222$182.0BJCISCHWRTXvs. Q4 2025SEC
Q4 2025Feb 13, 2026222$185.3BSCHWJCIRTXvs. Q3 2025SEC
Q3 2025Nov 13, 2025219$185.3BSCHWJCIRTXvs. Q2 2025SEC
Q2 2025Aug 13, 2025219$178.0BSCHWJCIRTXvs. Q1 2025SEC
Q1 2025May 14, 2025214$175.5BSCHWFISVJCIvs. Q4 2024SEC
Q4 2024Feb 13, 2025214$171.8BSCHWFISVJCIvs. Q3 2024SEC
Q3 2024Nov 13, 2024205$176.8BJCIFISVSCHWvs. Q2 2024SEC
Q2 2024Aug 13, 2024202$166.6BSCHWJCIWFCvs. Q1 2024SEC
Q1 2024May 14, 2024199$172.4BWFCSCHWFISVvs. Q4 2023SEC
Q4 2023Feb 22, 2024Amended197$157.6BSCHWWFCOXYvs. Q3 2023SEC
Q3 2023Nov 14, 2023192$148.4BOXYWFCGOOGvs. Q2 2023SEC
Q2 2023Aug 14, 2023191$149.9BOXYWFCGOOGvs. Q1 2023SEC
Q1 2023May 12, 2023203$146.8BOXYGOOGWFCvs. Q4 2022SEC
Q4 2022Feb 14, 2023188$145.8BSCHWOXYWFCvs. Q3 2022SEC
Q3 2022Nov 10, 2022191$132.0BOXYSCHWWFCvs. Q2 2022SEC
Q2 2022Aug 12, 2022211$144.5BOXYSCHWWFCvs. Q1 2022SEC
Q1 2022May 13, 2022197$164.6BSCHWWFCOXYvs. Q4 2021SEC
Q4 2021Feb 14, 2022197$161.5BWFCSCHWGOOGvs. Q3 2021SEC
Q3 2021Nov 15, 2021193$153.5BWFCGOOGCOFvs. Q2 2021SEC
Q2 2021Aug 13, 2021190$152.9BWFCCOFSCHWvs. Q1 2021SEC
Q1 2021May 14, 2021186$139.9BWFCCOFSCHW–SEC