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 | |
|---|---|---|---|---|---|---|
201
Moody's
MCO
$88.2B
| $549K | ﹤0.01% |
1,213
| – | – |
|
202
Genuine Parts
GPC
$18.8B
| $525K | ﹤0.01% |
4,450
-200
| -4% | -$20.9K |
|
203
Elevance Health
ELV
$86.6B
| $503K | ﹤0.01% |
1,300
| – | – |
|
204
Petrobras
PBR
$118B
| $485K | ﹤0.01% |
30,000
-1,200
| -4% | -$23.4K |
|
205
Phillips 66
PSX
$95.7B
| $440K | ﹤0.01% |
2,600
| – | – |
|
206
PepsiCo
PEP
$191B
| $416K | ﹤0.01% |
3,075
| – | – |
|
207
Lockheed Martin
LMT
$131B
| $395K | ﹤0.01% |
775
| – | – |
|
208
Futu Holdings
FUTU
$17.5B
| $394K | ﹤0.01% |
+4,200
| New | +$538K |
|
209
General Mills
GIS
$21.6B
| $390K | ﹤0.01% |
11,200
| – | – |
|
210
Otis Worldwide
OTIS
$27.2B
| $373K | ﹤0.01% |
5,210
-800
| -13% | -$59.8K |
|
211
Unilever
UL
$139B
| $315K | ﹤0.01% |
5,243
| – | – |
|
212
Cintas
CTAS
$81.7B
| $306K | ﹤0.01% |
1,800
| – | – |
|
213
MGM Resorts International
MGM
$10.8B
| $287K | ﹤0.01% |
6,000
-500
| -8% | -$20.8K |
|
214
Rio Tinto
RIO
$170B
| $285K | ﹤0.01% |
3,000
| – | – |
|
215
Live Nation Entertainment
LYV
$42.1B
| $275K | ﹤0.01% |
1,500
| – | – |
|
216
PPG Industries
PPG
$25.2B
| $267K | ﹤0.01% |
2,200
| – | – |
|
217
Dow Inc
DOW
$21.9B
| $249K | ﹤0.01% |
9,114
-599
| -6% | -$21.7K |
|
218
Chubb
CB
$131B
| $246K | ﹤0.01% |
722
| – | – |
|
219
Verizon
VZ
$205B
| $233K | ﹤0.01% |
5,500
| – | – |
|
220
Vanguard S&P 500 ETF
VOO
$1.03T
| $206K | ﹤0.01% |
+300
| New | +$200K |
|
221
Affiliated Managers Group
AMG
$9.58B
| $203K | ﹤0.01% |
+600
| New | +$186K |
|
222
CEMIG Preferred Shares
CIG
$5.64B
| $31.5K | ﹤0.01% |
15,000
| – | – |
|
223
eBay
EBAY
$45.5B
| – | – |
-11,750
| Closed | -$1.07M |
|
224
Halliburton
HAL
$29.6B
| – | – |
-5,500
| Closed | -$214K |
|
225
Intuitive Surgical
ISRG
$130B
| – | – |
-500
| Closed | -$230K |
|
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.