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 | |
|---|---|---|---|---|---|---|
151
Baidu
BIDU
$35.5B
| $3.06M | ﹤0.01% |
27,506
+10,976
| +66% | +$1.49M |
|
152
Vipshop
VIPS
$6.8B
| $3M | ﹤0.01% |
190,797
+66,600
| +54% | +$1.13M |
|
153
PNC Financial Services
PNC
$102B
| $2.91M | ﹤0.01% |
14,000
| – | – |
|
154
Berkshire Hathaway Class A
BRK.A
$1.09T
| $2.87M | ﹤0.01% |
4
| – | – |
|
155
Philip Morris
PM
$294B
| $2.73M | ﹤0.01% |
16,500
-500
| -3% | -$86.9K |
|
156
Pfizer
PFE
$153B
| $2.49M | ﹤0.01% |
88,564
-1,800
| -2% | -$47.9K |
|
|
JOYY
157
JOYY Inc
JOYY
$3.64B
| $2.45M | ﹤0.01% |
42,006
-7,600
| -15% | -$480K |
|
158
Trip.com Group
TCOM
$28.3B
| $2.45M | ﹤0.01% |
49,250
+30,000
| +156% | +$1.75M |
|
159
S&P Global
SPGI
$125B
| $2.3M | ﹤0.01% |
5,400
| – | – |
|
160
AbbVie
ABBV
$443B
| $2.26M | ﹤0.01% |
10,393
| – | – |
|
161
Parker-Hannifin
PH
$134B
| $2.24M | ﹤0.01% |
2,500
| – | – |
|
162
NextEra Energy
NEE
$179B
| $2.19M | ﹤0.01% |
23,600
| – | – |
|
163
Karooooo
KARO
$1.97B
| $2.1M | ﹤0.01% |
42,233
+17,810
| +73% | +$842K |
|
164
McDonald's
MCD
$193B
| $2M | ﹤0.01% |
6,425
-50
| -0.8% | -$15.9K |
|
165
Hewlett Packard
HPE
$79.2B
| $1.83M | ﹤0.01% |
76,754
-9,700
| -11% | -$215K |
|
166
Coca-Cola
KO
$376B
| $1.83M | ﹤0.01% |
24,000
| – | – |
|
167
Honeywell
HON
$74.2B
| $1.81M | ﹤0.01% |
8,019
| – | – |
|
168
Abbott
ABT
$193B
| $1.78M | ﹤0.01% |
17,324
| – | – |
|
169
Corteva
CTVA
$50.6B
| $1.7M | ﹤0.01% |
20,336
-191
| -0.9% | -$14.4K |
|
170
Las Vegas Sands
LVS
$29.6B
| $1.52M | ﹤0.01% |
28,186
| – | – |
|
|
ZH
171
Zhihu
ZH
$274M
| $1.37M | ﹤0.01% |
481,092
+161,928
| +51% | +$547K |
|
172
Altria Group
MO
$109B
| $1.35M | ﹤0.01% |
20,500
-500
| -2% | -$32.2K |
|
173
Colgate-Palmolive
CL
$74.1B
| $1.19M | ﹤0.01% |
14,000
| – | – |
|
174
3M
MMM
$94.2B
| $1.11M | ﹤0.01% |
7,676
| – | – |
|
175
eBay
EBAY
$46.5B
| $1.07M | ﹤0.01% |
11,750
-1,000
| -8% | -$89.8K |
|
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.