Dodge & Cox Portfolio holdings
Dodge & Cox, founded in 1930 by Van Duyn Dodge and E. Morris Cox in San Francisco, California, is an independent, employee-owned investment management firm renowned for its disciplined, value-oriented approach to long-term investing. Managing over $350 billion in assets as of late 2024, the firm offers a concise lineup of mutual funds and separate accounts focusing on U.S. and international equities, fixed income, and balanced portfolios, serving individual and institutional investors with a low-turnover, research-driven strategy. Known for its team-based decision-making and contrarian stance—buying undervalued securities others overlook—Dodge & Cox has maintained a consistent philosophy through decades, avoiding trend-chasing and emphasizing fundamentals, even during market volatility like the 2008 crisis. With a tight-knit team of about 300 employees and no proprietary trading, the firm’s commitment to simplicity, low fees, and client alignment has earned it a loyal following and a reputation as a steadfast player in asset management.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Visa
V
|
+$1.74B |
| 2 |
Thermo Fisher Scientific
TMO
|
+$1.45B |
| 3 |
Roper Technologies
ROP
|
+$1.27B |
| 4 |
FDXF
FedEx Freight
FDXF
|
+$1.18B |
| 5 |
Meta Platforms (Facebook)
META
|
+$902M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LyondellBasell Industries
LYB
|
+$1.36B |
| 2 |
Goldman Sachs
GS
|
+$1.22B |
| 3 |
Norfolk Southern
NSC
|
+$1.16B |
| 4 |
FedEx
FDX
|
+$999M |
| 5 |
Novartis
NVS
|
+$931M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 23.01% |
| 2 | Financials | 20.17% |
| 3 | Industrials | 13.38% |
| 4 | Technology | 12.31% |
| 5 | Communication Services | 10.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Liberty Global Class C
LBTYK
$3.51B
| – | – |
-5,255,568
| Closed | -$61.6M |
|
|
LOMA
227
Loma Negra
LOMA
$1.13B
| – | – |
-72,182
| Closed | -$800K |
|
|
228
LyondellBasell Industries
LYB
$20.4B
| – | – |
-16,839,152
| Closed | -$1.36B |
|
229
Pricesmart
PSMT
$5.34B
| – | – |
-6,156
| Closed | -$926K |
|
Similar funds
Dodge & Cox's Q2 2026 Portfolio in Review
As of Q2 2026, Dodge & Cox held 229 positions worth $191B, up 5% from $182B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Dodge & Cox's Q2 2026 filing shows 7 new, 71 increased, 94 reduced and 7 closed positions. Its largest new stake was FedEx Freight: 7,182,771 shares worth $1.08B. The largest sale was LyondellBasell Industries, an estimated $1.36B.
By sector, the portfolio is most concentrated in Healthcare at 23% of assets, up from 21% a quarter earlier, followed by Financials and Industrials.
- Dodge & Cox's largest Q2 2026 buy was FedEx Freight: 7,182,771 shares worth $1.08B.
- Dodge & Cox added most to Visa in Q2 2026, an estimated $1.74B increase.
- Dodge & Cox's biggest Q2 2026 reduction was Goldman Sachs, cutting an estimated $1.22B.
- Dodge & Cox fully exited LyondellBasell Industries in Q2 2026, selling an estimated $1.36B.
- Dodge & Cox's ten largest holdings make up 28% of its $191B portfolio in Q2 2026.
- Dodge & Cox opened 7 new positions and closed 7 in Q2 2026.
- Dodge & Cox's portfolio value rose 5% quarter-over-quarter to $191B.
Based on Dodge & Cox's 13F filing for Q2 2026, filed 13 Aug 2026.