Dodge & Cox Lowers Bristol Myers Squibb Stake

Institutional investor reduces position in pharmaceutical company by 12%

Mar. 14, 2026 at 8:09am

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Dodge & Cox, an institutional investor, lowered its position in Bristol Myers Squibb Company (NYSE:BMY) by 12.0% during the third quarter, according to a recent 13F filing with the Securities and Exchange Commission (SEC). The investor now owns 7,423,820 shares of the biopharmaceutical company's stock, valued at $334,814,000.

Why it matters

This move by Dodge & Cox, a prominent institutional investor, reflects broader market trends and investor sentiment around Bristol Myers Squibb. As a major shareholder, Dodge & Cox's decision to reduce its stake could signal potential concerns or a shift in the company's outlook.

The details

According to the 13F filing, Dodge & Cox sold 1,012,939 shares of Bristol Myers Squibb during the third quarter. The institutional investor now owns 0.36% of the biopharmaceutical company's outstanding shares. The filing also shows that other institutional investors and hedge funds have made similar adjustments to their Bristol Myers Squibb holdings in recent quarters.

  • Dodge & Cox lowered its position in Bristol Myers Squibb during the third quarter of the year.

The players

Dodge & Cox

An institutional investor and asset management firm that previously held a significant stake in Bristol Myers Squibb.

Bristol Myers Squibb Company

A global biopharmaceutical company focused on discovering, developing, and delivering medicines for serious diseases.

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The takeaway

The reduction in Dodge & Cox's Bristol Myers Squibb holdings could signal broader market uncertainty or a shift in investor sentiment around the pharmaceutical company. However, Bristol Myers Squibb remains a major player in the biopharmaceutical industry, and its long-term performance will depend on factors such as its drug pipeline, regulatory approvals, and competitive landscape.