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 | |
|---|---|---|---|---|---|---|
201
Moody's
MCO
$84.6B
| $529K | ﹤0.01% |
1,213
| – | – |
|
202
Genuine Parts
GPC
$18.7B
| $492K | ﹤0.01% |
4,650
| – | – |
|
203
PepsiCo
PEP
$192B
| $478K | ﹤0.01% |
3,075
| – | – |
|
204
Phillips 66
PSX
$92.8B
| $474K | ﹤0.01% |
2,600
| – | – |
|
205
Lockheed Martin
LMT
$138B
| $468K | ﹤0.01% |
775
| – | – |
|
206
Otis Worldwide
OTIS
$27.8B
| $463K | ﹤0.01% |
6,010
-10,000
| -62% | -$875K |
|
207
Grupo Aeroportuario del Sureste
ASR
$8.01B
| $420K | ﹤0.01% |
1,250
-450
| -26% | -$154K |
|
208
General Mills
GIS
$20.8B
| $417K | ﹤0.01% |
11,200
| – | – |
|
209
Dow Inc
DOW
$21.9B
| $405K | ﹤0.01% |
9,713
| – | – |
|
210
Elevance Health
ELV
$86.4B
| $381K | ﹤0.01% |
1,300
| – | – |
|
211
Cintas
CTAS
$80.3B
| $304K | ﹤0.01% |
1,800
| – | – |
|
212
Unilever
UL
$135B
| $299K | ﹤0.01% |
5,243
-1
| -0% | -$67 |
|
213
Rio Tinto
RIO
$160B
| $280K | ﹤0.01% |
3,000
| – | – |
|
214
Verizon
VZ
$200B
| $276K | ﹤0.01% |
5,500
| – | – |
|
215
Visa
V
$682B
| $260K | ﹤0.01% |
859
| – | – |
|
216
MGM Resorts International
MGM
$11.1B
| $241K | ﹤0.01% |
6,500
-1,000
| -13% | -$35.6K |
|
217
Chubb
CB
$133B
| $235K | ﹤0.01% |
722
| – | – |
|
218
PPG Industries
PPG
$25.5B
| $235K | ﹤0.01% |
2,200
| – | – |
|
219
Intuitive Surgical
ISRG
$142B
| $230K | ﹤0.01% |
500
| – | – |
|
220
Live Nation Entertainment
LYV
$43.3B
| $229K | ﹤0.01% |
1,500
-2,000
| -57% | -$303K |
|
221
Halliburton
HAL
$27.4B
| $214K | ﹤0.01% |
+5,500
| New | +$190K |
|
222
CEMIG Preferred Shares
CIG
$5.58B
| $35.9K | ﹤0.01% |
15,000
| – | – |
|
223
Grupo Cibest SA
CIB
$22.7B
| – | – |
-12,046
| Closed | -$766K |
|
224
IDEX
IEX
$17.6B
| – | – |
-1,262,550
| Closed | -$225M |
|
225
PayPal
PYPL
$51.8B
| – | – |
-4,475
| Closed | -$261K |
|
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.