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 | |
|---|---|---|---|---|---|---|
126
Procter & Gamble
PG
$333B
| $13.3M | 0.01% |
90,706
-50
| -0.1% | -$7.28K |
|
127
IBM
IBM
$225B
| $12.9M | 0.01% |
45,995
-592
| -1% | -$149K |
|
128
Target
TGT
$75.4B
| $12.5M | 0.01% |
95,639
-1,025
| -1% | -$130K |
|
129
AstraZeneca
AZN
$255B
| $10.6M | 0.01% |
55,949
-1,525
| -3% | -$287K |
|
130
Cisco
CSCO
$442B
| $10.4M | 0.01% |
88,409
-16,710
| -16% | -$1.75M |
|
131
ExxonMobil
XOM
$643B
| $10.1M | 0.01% |
73,858
| – | – |
|
132
Apple
AAPL
$4.59T
| $9.08M | ﹤0.01% |
31,382
-225
| -0.7% | -$64.4K |
|
133
Corning
GLW
$132B
| $8.85M | ﹤0.01% |
34,665
-1,660
| -5% | -$302K |
|
134
Deere & Co
DE
$168B
| $8.01M | ﹤0.01% |
12,626
| – | – |
|
135
Home Depot
HD
$328B
| $7.89M | ﹤0.01% |
22,382
-65
| -0.3% | -$21.1K |
|
136
Analog Devices
ADI
$181B
| $7.63M | ﹤0.01% |
19,210
-811
| -4% | -$321K |
|
137
Dell
DELL
$305B
| $7.44M | ﹤0.01% |
17,250
-1,650
| -9% | -$477K |
|
138
Broadcom
AVGO
$1.77T
| $7.29M | ﹤0.01% |
19,290
| – | – |
|
139
Vulcan Materials
VMC
$35.5B
| $7.08M | ﹤0.01% |
24,000
| – | – |
|
140
Berkshire Hathaway Class B
BRK.B
$1.08T
| $5.72M | ﹤0.01% |
11,440
| – | – |
|
141
State Street
STT
$53.1B
| $5.65M | ﹤0.01% |
33,325
-3,466,554
| -99% | -$535M |
|
142
Johnson & Johnson
JNJ
$640B
| $5.32M | ﹤0.01% |
20,947
| – | – |
|
143
Amgen
AMGN
$236B
| $4.64M | ﹤0.01% |
12,817
-550
| -4% | -$188K |
|
144
SLB Ltd
SLB
$81.6B
| $4.58M | ﹤0.01% |
98,424
-11,400
| -10% | -$611K |
|
145
Motorola Solutions
MSI
$80.5B
| $4.51M | ﹤0.01% |
10,866
-389
| -3% | -$163K |
|
146
Synopsys
SNPS
$89.1B
| $4.51M | ﹤0.01% |
10,100
-100
| -1% | -$47K |
|
147
Shell
SHEL
$250B
| $4.21M | ﹤0.01% |
54,269
-725
| -1% | -$62.6K |
|
148
BBB Foods
TBBB
$5.87B
| $3.78M | ﹤0.01% |
90,700
| – | – |
|
149
Boston Scientific
BSX
$67.6B
| $3.73M | ﹤0.01% |
87,485
-1,400
| -2% | -$76K |
|
150
Karooooo
KARO
$2.07B
| $3.44M | ﹤0.01% |
69,733
+27,500
| +65% | +$1.34M |
|
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.