Elanco Animal Health Incorporated disclosed that Dodge & Cox beneficially owns 68,944,100 shares of its common stock, equal to 13.9% of the class as of 03/31/2026.
The filing is an Amendment No. 5 to a Schedule 13G/A and notes that Dodge & Cox Stock Fund holds 45,270,700 shares (9.1%). The amendment was signed on 05/14/2026.
Positive
None.
Negative
None.
Insights
Large passive position reported; filings show concentration, not a transaction.
The Schedule 13G/A amendment documents that Dodge & Cox beneficially owns 68,944,100 shares (13.9%) as of 03/31/2026. This reflects disclosed holdings across client accounts and an investment company vehicle rather than an open-market trade.
Concentration is factual here: the excerpt shows Dodge & Cox Stock Fund with 45,270,700 shares (9.1%). Future filings may update holdings; timing and cash‑flow treatment are not stated in the provided excerpt.
Key Figures
Beneficial ownership:68,944,100 sharesPercent of class:13.9%Dodge & Cox Stock Fund holding:45,270,700 shares+1 more
4 metrics
Beneficial ownership68,944,100 sharesas of 03/31/2026
Percent of class13.9%Elanco common stock as of 03/31/2026
Dodge & Cox Stock Fund holding45,270,700 sharesreported interest (9.1%)
Sole voting power65,566,800 sharesshares with sole power to vote
Key Terms
Schedule 13G/A, beneficially owned, Investment Company Act of 1940
3 terms
Schedule 13G/Aregulatory
"Amendment No. 5 ) Elanco Animal Health Incorporated Common Stock"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
beneficially ownedfinancial
"Amount beneficially owned: 68,944,100 (b) Percent of class: 13.9 %"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Investment Company Act of 1940regulatory
"investment companies registered under the Investment Company Act of 1940"
A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.
What does Elanco's Schedule 13G/A tell investors about Dodge & Cox's stake in ELAN?
It shows Dodge & Cox beneficially owns 68,944,100 shares, equal to 13.9% of Elanco's common stock as of 03/31/2026. The filing records holdings across client accounts, not an individual purchase or sale transaction.
How much of ELAN is held by Dodge & Cox Stock Fund according to the filing?
The filing states Dodge & Cox Stock Fund holds 45,270,700 shares, representing 9.1% of the class. This amount is identified within the Schedule 13G/A as part of Dodge & Cox's reported client holdings.
Does the Schedule 13G/A amendment indicate Dodge & Cox bought or sold ELAN shares?
No. The Schedule 13G/A amendment reports beneficial ownership levels as of 03/31/2026. It documents position size and voting/dispositive power rather than a specific purchase or sale transaction.
Who filed the amendment on behalf of Dodge & Cox for ELAN?
The filing lists Dodge & Cox as the reporting person and is signed by Katherine M. Primas, Chief Compliance Officer on 05/14/2026, per the Schedule 13G/A excerpt.
What voting and dispositive powers does Dodge & Cox report for ELAN shares?
Dodge & Cox reports sole power to vote 65,566,800 shares and sole dispositive power for 68,944,100 shares of Elanco common stock in the Schedule 13G/A filing.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 5)
Elanco Animal Health Incorporated
(Name of Issuer)
Common Stock
(Title of Class of Securities)
28414H103
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
28414H103
1
Names of Reporting Persons
Dodge & Cox
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CALIFORNIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
65,566,800.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
68,944,100.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
68,944,100.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
13.9 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Elanco Animal Health Incorporated
(b)
Address of issuer's principal executive offices:
450 ELANCO CIRCLE, INDIANAPOLIS, INDIANA 46221
Item 2.
(a)
Name of person filing:
Dodge & Cox
(b)
Address or principal business office or, if none, residence:
555 California Street 40th Floor, San Francisco, CA 94104
(c)
Citizenship:
California, USA
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
28414H103
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
68,944,100
(b)
Percent of class:
13.9 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
65,566,800
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
68,944,100
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The clients of Dodge & Cox, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, Elanco Animal Health Incorporated.
Dodge & Cox Stock Fund, an investment company registered under the Investment Company Act of 1940, has an interest of 45,270,700 or 9.1%, of the class of securities reported herein.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
