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 | |
|---|---|---|---|---|---|---|
176
Colgate-Palmolive
CL
$72.5B
| $1.28M | ﹤0.01% |
14,000
| – | – |
|
177
Patria Investments
PAX
$1.88B
| $1.27M | ﹤0.01% |
115,700
+63,100
| +120% | +$752K |
|
178
3M
MMM
$92.2B
| $1.22M | ﹤0.01% |
7,558
-118
| -2% | -$17.9K |
|
179
Copa Holdings
CPA
$5.36B
| $1.13M | ﹤0.01% |
7,250
+1,250
| +21% | +$163K |
|
|
Q
180
Qnity Electronics Inc
Q
$26.4B
| $1.04M | ﹤0.01% |
6,369
-358
| -5% | -$52.7K |
|
181
Intercorp Financial Services
IFS
$6B
| $991K | ﹤0.01% |
17,391
| – | – |
|
182
Laureate Education
LAUR
$5.38B
| $988K | ﹤0.01% |
27,200
+5,500
| +25% | +$186K |
|
183
Truist Financial
TFC
$61.4B
| $954K | ﹤0.01% |
19,151
| – | – |
|
184
Arcos Dorados Holdings
ARCO
$1.67B
| $911K | ﹤0.01% |
112,966
| – | – |
|
185
Honeywell
HON
$69.9B
| $898K | ﹤0.01% |
4,010
-4,009
| -50% | -$894K |
|
186
Diageo
DEO
$51.2B
| $890K | ﹤0.01% |
11,077
| – | – |
|
|
HONA
187
Honeywell Aerospace
HONA
$51B
| $886K | ﹤0.01% |
+4,009
| New | +$885K |
|
188
GeoPark
GPRK
$639M
| $847K | ﹤0.01% |
93,045
| – | – |
|
189
Grupo Aeroportuario del Sureste
ASR
$7.8B
| $807K | ﹤0.01% |
2,630
+1,380
| +110% | +$429K |
|
190
dLocal
DLO
$4.46B
| $799K | ﹤0.01% |
61,500
+16,800
| +38% | +$213K |
|
|
JBS
191
JBS N.V.
JBS
$44.8B
| $797K | ﹤0.01% |
67,250
+22,500
| +50% | +$329K |
|
192
Ambev
ABEV
$44.4B
| $793K | ﹤0.01% |
252,700
-53,600
| -17% | -$168K |
|
193
Afya
AFYA
$1.27B
| $761K | ﹤0.01% |
51,287
| – | – |
|
194
Ameriprise Financial
AMP
$49.1B
| $688K | ﹤0.01% |
1,500
| – | – |
|
195
Mondelez International
MDLZ
$79.7B
| $685K | ﹤0.01% |
11,840
| – | – |
|
196
Blackrock
BLK
$181B
| $684K | ﹤0.01% |
711
| – | – |
|
197
NVIDIA
NVDA
$5.51T
| $680K | ﹤0.01% |
3,400
| – | – |
|
198
DuPont de Nemours
DD
$18.7B
| $638K | ﹤0.01% |
4,705
-187
| -4% | -$26.6K |
|
199
APA Corp
APA
$14.8B
| $635K | ﹤0.01% |
19,500
-2,000
| -9% | -$75.1K |
|
200
Allstate
ALL
$65.1B
| $617K | ﹤0.01% |
2,595
| – | – |
|
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.