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 | |
|---|---|---|---|---|---|---|
126
ExxonMobil
XOM
$652B
| $12.5M | 0.01% |
73,858
-635
| -0.9% | -$92.7K |
|
127
Target
TGT
$70.6B
| $11.7M | 0.01% |
96,664
-1,465
| -1% | -$165K |
|
128
AstraZeneca
AZN
$244B
| $11.3M | 0.01% |
57,474
-3,048
| -5% | -$588K |
|
129
IBM
IBM
$223B
| $11.3M | 0.01% |
46,587
-115
| -0.2% | -$31.1K |
|
130
Cisco
CSCO
$447B
| $8.16M | ﹤0.01% |
105,119
-57,995
| -36% | -$4.54M |
|
131
Apple
AAPL
$4.46T
| $8.02M | ﹤0.01% |
31,607
-200
| -0.6% | -$52K |
|
132
Home Depot
HD
$341B
| $7.38M | ﹤0.01% |
22,447
-800
| -3% | -$292K |
|
133
Deere & Co
DE
$165B
| $7.11M | ﹤0.01% |
12,626
| – | – |
|
134
Vulcan Materials
VMC
$36B
| $6.54M | ﹤0.01% |
24,000
| – | – |
|
135
Analog Devices
ADI
$186B
| $6.37M | ﹤0.01% |
20,021
-754
| -4% | -$240K |
|
136
Broadcom
AVGO
$1.99T
| $5.97M | ﹤0.01% |
19,290
-1,290
| -6% | -$424K |
|
137
SLB Ltd
SLB
$77.3B
| $5.64M | ﹤0.01% |
109,824
-67,025
| -38% | -$3.25M |
|
138
Boston Scientific
BSX
$74.9B
| $5.58M | ﹤0.01% |
88,885
| – | – |
|
139
Berkshire Hathaway Class B
BRK.B
$1.09T
| $5.48M | ﹤0.01% |
11,440
| – | – |
|
140
Johnson & Johnson
JNJ
$632B
| $5.12M | ﹤0.01% |
20,947
| – | – |
|
141
Shell
SHEL
$248B
| $5.11M | ﹤0.01% |
54,994
-200
| -0.4% | -$16.2K |
|
142
Corning
GLW
$137B
| $4.94M | ﹤0.01% |
36,325
-525
| -1% | -$63.3K |
|
143
Motorola Solutions
MSI
$77B
| $4.88M | ﹤0.01% |
11,255
| – | – |
|
144
ACM Research
ACMR
$5.65B
| $4.72M | ﹤0.01% |
119,892
+7,500
| +7% | +$398K |
|
145
Amgen
AMGN
$226B
| $4.7M | ﹤0.01% |
13,367
| – | – |
|
146
Synopsys
SNPS
$78.8B
| $4.04M | ﹤0.01% |
10,200
| – | – |
|
147
Mercado Libre
MELI
$92.7B
| $3.44M | ﹤0.01% |
1,987
+595
| +43% | +$1.15M |
|
148
BBB Foods
TBBB
$5.93B
| $3.21M | ﹤0.01% |
+90,700
| New | +$3.17M |
|
149
Danaher
DHR
$143B
| $3.12M | ﹤0.01% |
16,450
| – | – |
|
150
Dell
DELL
$320B
| $3.1M | ﹤0.01% |
18,900
-280
| -1% | -$37.3K |
|
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.