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 |
SUNB
Sunbelt Rentals Holdings
SUNB
|
+$3.73B |
| 2 |
Microsoft
MSFT
|
+$1.89B |
| 3 |
Arthur J. Gallagher & Co
AJG
|
+$1.5B |
| 4 |
Roper Technologies
ROP
|
+$1.23B |
| 5 |
Booking.com
BKNG
|
+$1.22B |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FedEx
FDX
|
+$1.94B |
| 2 |
GE Aerospace
GE
|
+$1.4B |
| 3 |
Sanofi
SNY
|
+$1.26B |
| 4 |
Norfolk Southern
NSC
|
+$1B |
| 5 |
CVS Health
CVS
|
+$827M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 21.3% |
| 2 | Financials | 19.23% |
| 3 | Industrials | 13.8% |
| 4 | Technology | 11.38% |
| 5 | Communication Services | 10.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ECHO
226
EchoStar
ECHO
$26.6B
| – | – |
-32,443
| Closed | -$3.53M |
|
227
Vanguard S&P 500 ETF
VOO
$1.04T
| – | – |
-600
| Closed | -$376K |
|
|
AMRZ
228
Amrize Ltd
AMRZ
$25.6B
| – | – |
-5,385,441
| Closed | -$293M |
|
Similar funds
Dodge & Cox's Q1 2026 Portfolio in Review
As of Q1 2026, Dodge & Cox held 228 positions worth $182B, down 1.8% from $185B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Dodge & Cox's Q1 2026 filing shows 6 new, 50 increased, 110 reduced and 6 closed positions. Its largest new stake was Sunbelt Rentals Holdings: 53,101,847 shares worth $3.46B. The largest sale was FedEx, an estimated $1.94B.
By sector, the portfolio is most concentrated in Healthcare at 21% of assets, down from 24% a quarter earlier, followed by Financials and Industrials.
- Dodge & Cox's largest Q1 2026 buy was Sunbelt Rentals Holdings: 53,101,847 shares worth $3.46B.
- Dodge & Cox added most to Microsoft in Q1 2026, an estimated $1.89B increase.
- Dodge & Cox's biggest Q1 2026 reduction was FedEx, cutting an estimated $1.94B.
- Dodge & Cox fully exited Amrize Ltd in Q1 2026, selling an estimated $293M.
- Dodge & Cox's ten largest holdings make up 27% of its $182B portfolio in Q1 2026.
- Dodge & Cox opened 6 new positions and closed 6 in Q1 2026.
- Dodge & Cox's portfolio value fell 1.8% quarter-over-quarter to $182B.
Based on Dodge & Cox's 13F filing for Q1 2026, filed 14 May 2026.