Dodge & Cox holds 12.25M Incyte shares (NASDAQ: INCY), a 6.2% stake

Rhea-AI Filing Summary

Incyte Corporation: Institutional ownership update. Dodge & Cox reports beneficial ownership of 12,252,356 shares of Incyte Corporation, representing 6.2% of the class. The filer reports sole voting power for 11,646,204 shares and sole dispositive power for 12,252,356 shares. The filing states these shares are held on behalf of Dodge & Cox clients.

Insights

Institutional Ownership Analyst

Steady passive stake disclosure by a large asset manager.

Dodge & Cox discloses beneficial ownership of 12,252,356 shares (6.2%) with sole voting power over 11,646,204 shares. The filing identifies the holdings as client accounts, consistent with a portfolio stake rather than an individual insider position.

Holdings above 5% trigger reporting; the disclosed numbers establish regulatory visibility but do not, on their face, indicate an active control intent. Subsequent amendments or voting-agreement disclosures would clarify any change in intent.

Key Figures

Beneficial ownership: 12,252,356 shares Percent of class: 6.2% Sole voting power: 11,646,204 shares +1 more

4 metrics

Beneficial ownership 12,252,356 shares reported in Schedule 13G/A

Percent of class 6.2% percent of common stock beneficially owned

Sole voting power 11,646,204 shares shares with sole power to vote

Sole dispositive power 12,252,356 shares shares with sole power to dispose

Key Terms

Schedule 13G/A, Beneficially owned, Sole dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment No. 3 ) INCYTE CORPORATION 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 owned financial

"Amount beneficially owned: 12,252,356 (b) Percent of class: 6.2 %"

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.

Sole dispositive power regulatory

"(iii) Sole power to dispose or to direct the disposition of: 12,252,356"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

INCYTE CORPORATION

(Name of Issuer)

Common Stock

(Title of Class of Securities)

45337C102

(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): 45337C102

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 11,646,204.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 12,252,356.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,252,356.00

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)

6.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: INCYTE CORPORATION
(b)	Address of issuer's principal executive offices: 1801 Augustine Cut-Off, Wilmington, DE 19803
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.: 45337C102
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: 12,252,356
(b)	Percent of class: 6.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11,646,204
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 12,252,356
	(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, INCYTE CORPORATION.
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.

Dodge & Cox

Signature:	/S/ Katherine M. Primas
Name/Title:	Chief Compliance Officer
Date:	05/14/2026

FAQ

What stake does Dodge & Cox report in Incyte (INCY)?

Dodge & Cox reports beneficial ownership of 12,252,356 shares of Incyte, equal to 6.2% of the class. The filing shows sole voting power over 11,646,204 shares and sole dispositive power over 12,252,356 shares.

Does the Schedule 13G/A indicate who controls the INCY shares?

The filing states the shares are held on behalf of Dodge & Cox clients. It does not name specific clients; it attributes voting and dispositive powers to Dodge & Cox as the investment manager rather than to individual beneficial owners.

Is this filing an acquisition or a change in intent for INCY control?

This Schedule 13G/A is a regulatory disclosure of beneficial ownership and does not, by itself, state a change in control intent. It reports current holdings and voting/dispositive powers without asserting an acquisition transaction or activist intent.

What reporting thresholds triggered this Schedule 13G/A for INCY?

The filing reflects ownership above the 5% threshold for the class, which requires public reporting. Dodge & Cox's disclosed 6.2% beneficial ownership meets that regulatory reporting requirement.

Who signed the INCY filing and when was it filed?

The filing is signed by Katherine M. Primas, Chief Compliance Officer of Dodge & Cox, with an execution date of 05/14/2026 as shown in the amendment header and signature block.