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 | |
|---|---|---|---|---|---|---|
151
PNC Financial Services
PNC
$97.1B
| $3.44M | ﹤0.01% |
13,960
-40
| -0.3% | -$8.96K |
|
152
Mercado Libre
MELI
$97.9B
| $3.37M | ﹤0.01% |
1,987
| – | – |
|
153
Berkshire Hathaway Class A
BRK.A
$1.08T
| $3M | ﹤0.01% |
4
| – | – |
|
154
Philip Morris
PM
$297B
| $2.99M | ﹤0.01% |
16,500
| – | – |
|
155
Baidu
BIDU
$32.9B
| $2.97M | ﹤0.01% |
26,006
-1,500
| -5% | -$186K |
|
156
Hewlett Packard
HPE
$72B
| $2.86M | ﹤0.01% |
63,450
-13,304
| -17% | -$480K |
|
|
JOYY
157
JOYY Inc
JOYY
$3.66B
| $2.71M | ﹤0.01% |
41,006
-1,000
| -2% | -$62.2K |
|
158
AbbVie
ABBV
$456B
| $2.62M | ﹤0.01% |
10,393
| – | – |
|
159
Vipshop
VIPS
$6.4B
| $2.53M | ﹤0.01% |
190,797
| – | – |
|
160
Parker-Hannifin
PH
$127B
| $2.45M | ﹤0.01% |
2,500
| – | – |
|
161
Bristol-Myers Squibb
BMY
$137B
| $2.44M | ﹤0.01% |
42,361
-4,580,459
| -99% | -$263M |
|
162
Sea Limited
SE
$72.5B
| $2.2M | ﹤0.01% |
+22,950
| New | +$2.02M |
|
163
S&P Global
SPGI
$128B
| $2.12M | ﹤0.01% |
5,200
-200
| -4% | -$84.5K |
|
164
Pfizer
PFE
$160B
| $2.11M | ﹤0.01% |
87,814
-750
| -0.8% | -$19.6K |
|
165
NextEra Energy
NEE
$174B
| $2.02M | ﹤0.01% |
23,000
-600
| -3% | -$54.3K |
|
166
Trip.com Group
TCOM
$28.1B
| $1.96M | ﹤0.01% |
49,250
| – | – |
|
167
Coca-Cola
KO
$383B
| $1.95M | ﹤0.01% |
24,000
| – | – |
|
168
McDonald's
MCD
$184B
| $1.74M | ﹤0.01% |
6,425
| – | – |
|
169
Corteva
CTVA
$55B
| $1.71M | ﹤0.01% |
20,203
-133
| -0.7% | -$10.7K |
|
170
Abbott
ABT
$193B
| $1.57M | ﹤0.01% |
17,324
| – | – |
|
|
ZH
171
Zhihu
ZH
$260M
| $1.57M | ﹤0.01% |
501,092
+20,000
| +4% | +$64.3K |
|
172
Altria Group
MO
$113B
| $1.47M | ﹤0.01% |
20,500
| – | – |
|
173
Atour Lifestyle Holdings
ATAT
$4.72B
| $1.45M | ﹤0.01% |
45,652
+17,500
| +62% | +$626K |
|
174
Nucor
NUE
$57.3B
| $1.38M | ﹤0.01% |
6,200
| – | – |
|
175
Las Vegas Sands
LVS
$28.7B
| $1.3M | ﹤0.01% |
28,186
| – | – |
|
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.