Dodge & Cox
Portfolio value$191.0B
Positions222
QuarterQ2 2026ended 2026-06-30
Filed08/132026
Dodge & Cox's Q2 2026 13F, filed Aug 13, 2026, reports 222 positions worth $191.0B. The ten largest are 27.8% of the book, led by Johnson Controls at 4.3%, Charles Schwab at 3.7% and RTX at 3.5%. Against Q1 2026: 9 bought, 71 added to, 92 reduced, 9 sold; the largest moves were added Visa (+630555%) and reduced FedEx (−42%).
Where the money is
JCI212 other
Holdings
| Ticker | Issuer | Weight | Value | Q-end → now | Price vs model | Change |
|---|---|---|---|---|---|---|
| JCI | Johnson Controls International PLC | 4.3% | $8.1B55.8M sh | 146.11 → −0% | 175% overvalued | reduced −3% |
| SCHW | The Charles Schwab Corp. | 3.7% | $7.1B77.0M sh | 92.27 → −0% | 43% undervalued | added +3% |
| RTX | Rtx Corp. | 3.5% | $6.7B35.1M sh | 189.73 → +2% | 9% overvalued | reduced −1% |
| CVS | Cvs Health Corp. | 2.7% | $5.2B50.0M sh | 103.45 → −11% | 420% overvalued | reduced −3% |
| MSFT | Microsoft Corp. | 2.5% | $4.8B12.8M sh | 373.02 → +42% | 10% overvalued | added +7% |
| BKNG | Booking Holdings, Inc. | 2.4% | $4.6B25.5M sh | 178.24 → −8% | 18% undervalued | added +2% |
| HUM | Humana, Inc. | 2.3% | $4.3B10.9M sh | 397.22 → +4% | 2% undervalued | reduced −4% |
| GOOG | Alphabet, Inc. | 2.2% | $4.2B12.0M sh | 353.33 → −5% | 49% overvalued | reduced −2% |
| MET | Metlife, Inc. | 2.1% | $4.1B48.4M sh | 84.61 → +19% | 112% overvalued | reduced −5% |
| SUNB | Sunbelt Rentals Holdings, Inc. | 2.1% | $4.1B54.8M sh | 74.81 | — | added +3% |
| AMZN | Amazon.com, Inc. | 2.1% | $4.0B16.7M sh | 238.34 → +5% | 182% overvalued | added +11% |
| GOOGL | Alphabet, Inc. | 2.0% | $3.8B10.7M sh | 357.37 → −5% | 51% overvalued | added +0% |
| UNH | Unitedhealth Group, Inc. | 2.0% | $3.8B9.1M sh | 415.63 → −3% | 19% overvalued | reduced −4% |
| META | Meta Platforms, Inc. | 1.9% | $3.7B6.5M sh | 563.29 → +26% | 10% overvalued | added +29% |
| OXY | Occidental Petroleum Corp. | 1.9% | $3.5B72.8M sh | 48.57 → +28% | 30% undervalued | reduced −2% |
| TEL | Te Connectivity PLC | 1.8% | $3.4B17.0M sh | 201.61 → +5% | 36% overvalued | added +16% |
| CI | The Cigna Group | 1.8% | $3.4B12.2M sh | 275.68 → +10% | 3% overvalued | added +5% |
| REGN | Regeneron Pharmaceuticals, Inc. | 1.6% | $3.0B4.9M sh | 623.54 → +27% | 24% undervalued | added +9% |
| GILD | Gilead Sciences, Inc. | 1.6% | $3.0B23.7M sh | 126.34 → +24% | 16% undervalued | reduced −2% |
| IFF | International Flavors & Fragrances, Inc. | 1.5% | $2.9B37.0M sh | 79.22 → +14% | 22% overvalued | added +1% |
| AON | Aon PLC | 1.5% | $2.9B8.6M sh | 331.69 → −12% | 19% undervalued | added +6% |
| CMCSA | Comcast Corp. | 1.5% | $2.8B115.9M sh | 24.55 → −11% | 83% undervalued | added +2% |
| APD | Air Products & Chemicals, Inc. | 1.4% | $2.8B9.4M sh | 293.18 → +2% | 9% overvalued | added +2% |
| FTV | Fortive Corp. | 1.4% | $2.7B44.0M sh | 61.09 → −5% | 24% overvalued | added +2% |
| BN | Brookfield Corp. | 1.4% | $2.6B61.2M sh | 42.59 | — | added +3% |
| WFC | Wells Fargo & Co. | 1.4% | $2.6B31.3M sh | 82.64 → +1% | 6% undervalued | added +1% |
| GSK | Gsk PLC | 1.3% | $2.5B48.2M sh | 52.42 | — | reduced −18% |
| FISV | Fiserv, Inc. | 1.3% | $2.5B50.2M sh | 49.05 → −3% | 83% undervalued | reduced −0% |
| BUD | Anheuser-busch Inbev Sa/nv | 1.3% | $2.4B29.5M sh | 82.40 | — | reduced −1% |
| GEHC | Ge Healthcare Technologies, Inc. | 1.3% | $2.4B37.9M sh | 64.01 → +9% | 40% undervalued | added +21% |
| BNY | The Bank Of New York Mellon Corp. | 1.3% | $2.4B16.6M sh | 144.61 → −1% | 57% overvalued | reduced −29% |
| ROP | Roper Technologies, Inc. | 1.3% | $2.4B7.1M sh | 338.39 → +13% | 6% overvalued | added +111% |
| FDX | Fedex Corp. | 1.2% | $2.3B7.2M sh | 313.13 → −6% | 55% overvalued | reduced −42% |
| SBAC | Sba Communications Corp. | 1.1% | $2.2B12.3M sh | 176.46 → +6% | 21% undervalued | added +2% |
| AJG | Arthur J Gallagher & Co. | 1.1% | $2.1B9.4M sh | 229.57 → +11% | 42% overvalued | added +27% |
| CHTR | Charter Communications, Inc. | 1.1% | $2.1B15.0M sh | 142.21 → −23% | 64% undervalued | added +3% |
| WTW | Willis Towers Watson PLC | 1.1% | $2.1B8.0M sh | 261.37 → +21% | 41% undervalued | added +9% |
| ZBH | Zimmer Biomet Holdings, Inc. | 1.1% | $2.1B24.1M sh | 86.09 → +10% | 44% undervalued | added +2% |
| CARR | Carrier Global Corp. | 1.1% | $2.0B27.5M sh | 73.35 → −25% | 51% overvalued | added +3% |
| BKR | Baker Hughes Co. | 1.0% | $1.9B34.9M sh | 55.50 → +0% | 93% overvalued | reduced −3% |
| FIS | Fidelity National Information Services, Inc. | 1.0% | $1.9B49.1M sh | 38.88 → −7% | 52% undervalued | reduced −0% |
| V | Visa, Inc. | 1.0% | $1.9B5.4M sh | 343.09 → +17% | 40% overvalued | added +630555% |
| COF | Capital One Financial Corp. | 1.0% | $1.8B9.1M sh | 200.62 → +1% | 10% overvalued | added +4% |
| TRU | Transunion | 0.9% | $1.7B24.2M sh | 72.14 | — | added +49% |
| UBS | Ubs Group AG | 0.9% | $1.7B33.6M sh | 49.54 | — | reduced −0% |
| ELAN | Elanco Animal Health, Inc. | 0.9% | $1.7B67.4M sh | 24.61 | — | reduced −2% |
| TMO | Thermo Fisher Scientific, Inc. | 0.8% | $1.5B3.1M sh | 501.36 → +38% | 78% overvalued | added +11767% |
| HLN | Haleon PLC | 0.7% | $1.4B149.9M sh | 9.33 | — | added +2% |
| SU | Suncor Energy, Inc. | 0.7% | $1.4B25.4M sh | 53.68 | — | reduced −3% |
| INCY | Incyte Corp. | 0.7% | $1.4B12.0M sh | 113.36 → −0% | 11% overvalued | reduced −2% |
| LPLA | Lpl Financial Holdings, Inc. | 0.7% | $1.3B4.6M sh | 281.68 | — | added +10% |
| CPNG | Coupang, Inc. | 0.7% | $1.3B72.2M sh | 17.37 | — | added +0% |
| D | Dominion Energy, Inc. | 0.7% | $1.2B18.3M sh | 68.29 → −7% | 19% undervalued | reduced −6% |
| BAX | Baxter International, Inc. | 0.7% | $1.2B58.4M sh | 21.32 → +19% | 35% overvalued | added +2% |
| SNY | Sanofi SA | 0.6% | $1.2B28.1M sh | 42.66 | — | reduced −5% |
| AVTR | Avantor, Inc. | 0.6% | $1.2B120.0M sh | 9.90 | — | added +0% |
| AEP | American Electric Power Co., Inc. | 0.6% | $1.2B8.7M sh | 136.81 → −7% | at model | reduced −1% |
| SUI | Sun Communities, Inc. | 0.6% | $1.1B9.5M sh | 119.91 | — | reduced −33% |
| FDXF | Fedex Freight Holding Co., Inc. | 0.6% | $1.1B7.2M sh | 151.00 → −25% | 41% undervalued | bought |
| ADM | Archer-daniels-midland Co. | 0.6% | $1.1B14.2M sh | 76.40 → +8% | 68% overvalued | reduced −10% |
| TDY | Teledyne Technologies, Inc. | 0.6% | $1.1B1.6M sh | 666.90 → −7% | 40% overvalued | added +1% |
| TMUS | T-mobile U.s., Inc. | 0.6% | $1.1B6.3M sh | 167.73 → −5% | 45% undervalued | added +3% |
| RAL | Ralliant Corp. | 0.5% | $1.0B14.0M sh | 73.63 | — | added +2% |
| BAP | Credicorp, Ltd. | 0.5% | $1.0B2.6M sh | 389.58 | — | reduced −23% |
| NVO | Novo Nordisk A/s | 0.5% | $977.8M20.4M sh | 47.94 | — | added +6% |
| COP | Conocophillips | 0.5% | $963.3M9.3M sh | 103.96 → +41% | 24% undervalued | reduced −4% |
| CX | Cemex Sab de Cv | 0.5% | $962.3M80.2M sh | 12.00 | — | reduced −6% |
| BABA | Alibaba Group Holding, Ltd. | 0.5% | $955.8M10.0M sh | 95.98 | — | added +0% |
| NBIX | Neurocrine Biosciences, Inc. | 0.5% | $941.2M5.6M sh | 168.53 | — | added +2% |
| HPQ | Hp, Inc. | 0.5% | $935.3M42.6M sh | 21.94 → +37% | 41% undervalued | added +2% |
| BMRN | Biomarin Pharmaceutical, Inc. | 0.4% | $849.4M14.8M sh | 57.22 | — | added +2% |
| FCNCA | First Citizens Bancshares, Inc. | 0.4% | $841.1M404,215 sh | 2,080.79 | — | added +3% |
| NSC | Norfolk Southern Corp. | 0.4% | $789.0M2.5M sh | 314.59 → +4% | 54% overvalued | reduced −60% |
| TIGO | Millicom International Cellular SA | 0.4% | $745.9M8.2M sh | 90.76 | — | added +1% |
| TAP | Molson Coors Beverage Co. | 0.4% | $742.8M19.1M sh | 38.96 → +1% | 75% undervalued | added +3% |
| KKR | Kkr & Co., Inc. | 0.4% | $739.8M8.1M sh | 91.78 → −6% | 17% undervalued | bought |
| CE | Celanese Corp. | 0.4% | $703.0M15.3M sh | 46.00 | — | reduced −0% |
| LIN | Linde PLC | 0.4% | $688.4M1.3M sh | 518.94 → −4% | 72% overvalued | held |
| TSM | Taiwan Semiconductor Manufacturing Co., Ltd. | 0.4% | $688.1M1.4M sh | 477.57 | — | added +1237% |
| ADBE | Adobe, Inc. | 0.3% | $638.6M3.1M sh | 205.02 → +20% | 28% undervalued | added +25% |
| MDT | Medtronic PLC | 0.3% | $616.1M7.9M sh | 78.23 → +21% | 4% overvalued | added +2% |
| GLPI | Gaming & Leisure Properties, Inc. | 0.3% | $613.3M13.8M sh | 44.53 | — | added +2% |
| ALNY | Alnylam Pharmaceuticals, Inc. | 0.3% | $588.6M2.0M sh | 301.03 → −23% | 12% overvalued | added +1% |
| FOXA | Fox Corp. | 0.3% | $585.4M11.2M sh | 52.16 → +23% | 36% undervalued | added +3% |
| CTSH | Cognizant Technology Solutions Corp. | 0.3% | $563.2M14.5M sh | 38.73 → +70% | 33% undervalued | added +2% |
| XP | Xp, Inc. | 0.3% | $529.5M32.6M sh | 16.26 | — | reduced −0% |
| MCHP | Microchip Technology, Inc. | 0.3% | $504.6M5.5M sh | 91.20 → −19% | 62% overvalued | reduced −10% |
| AEG | Aegon, Ltd. | 0.2% | $376.7M44.6M sh | 8.44 | — | reduced −12% |
| VFC | Vf Corp. | 0.2% | $373.7M22.4M sh | 16.68 | — | reduced −32% |
| PDD | Pdd Holdings, Inc. | 0.2% | $347.1M4.5M sh | 76.28 → +6% | no usable model value | added +0% |
| BNTX | Biontech Se | 0.2% | $342.2M3.7M sh | 93.05 | — | added +0% |
| YUMC | Yum China Holdings, Inc. | 0.2% | $341.9M8.4M sh | 40.87 | — | added +0% |
| FOX | Fox Corp. | 0.2% | $340.3M7.3M sh | 46.84 → +22% | 42% undervalued | added +1% |
| TRP | Tc Energy Corp. | 0.2% | $333.8M5.0M sh | 66.29 | — | reduced −43% |
| NWSA | News Corp. | 0.2% | $311.3M12.5M sh | 24.83 → +21% | 9% overvalued | added +2% |
| JD | Jd.com, Inc. | 0.2% | $310.7M12.2M sh | 25.48 | — | held |
| NTES | Netease, Inc. | 0.1% | $277.1M2.2M sh | 128.14 | — | added +0% |
| GE | Ge Aerospace | 0.1% | $223.5M598,052 sh | 373.73 → −16% | 101% overvalued | reduced −19% |
| COHR | Coherent Corp. | 0.1% | $214.7M544,160 sh | 394.47 → −41% | 42% undervalued | reduced −3% |
| HDB | Hdfc Bank, Ltd. | 0.1% | $172.5M6.7M sh | 25.83 | — | added +17% |
Source: the manager's Form 13F-HR on SEC EDGAR, kept as immutable quarterly snapshots; changes compare two consecutive filings. A 13F is filed up to 45 days after quarter end and covers US-listed long positions only. Tickers come from a self-maintained CUSIP map; a position without one shows its CUSIP. Method notes in where the numbers come from.