Value investing giant Dodge & Cox significantly reduced its position in The Goldman Sachs Group, Inc. (GS) during the second quarter of 2026, cutting its holdings by over 90%. According to a quarterly 13F disclosure filed with the SEC, the firm's stake dropped from 1.38 million shares to just 134.13 thousand. It's important to remember that 13F filings are delayed, and this trade occurred sometime between April 1 and June 30, 2026.
The reduction lowered the investment's weight in Dodge & Cox's portfolio from 0.64% to a mere 0.07%. This move came during a period where Goldman Sachs reported record performance, strongly beating earnings expectations for the second quarter. Dodge & Cox has not publicly commented on the reason for this substantial sell-off.