In Tuesday's Wall Street Journal Fund Track column, Joseph Checkler and Craig Karmin notes that Wachovia's top two shareholders, Dodge & Cox and Fidelity Investments each increased their Wachovia holdings by more than 60 million shares in the second quarter. Dodge & Cox held 8.75 percent of Wachovia's shares and Fidelity held more than 5 percent.

It is unclear how much of those holdings they have retained.

After its deal with Citigroup was unveiled, Wachovia's shares dropped 82 percent on Monday, ending the day at $1.84. 

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