Dodge & Cox

Net selling

Dodge & Cox — managed by Dodge & Cox; US equity positions disclosed quarterly via SEC 13F

Data as of 2026-06-30 (filed 2026-08-13) · Source: SEC EDGAR

Portfolio value$191.01B (+5%)

Holdings222

Top holdingJohnson Controls International Plc

Below band14

New

Added

Exited

By what price implies: 75 demand a demanding growth rate, 36 modest.

13F × valuation

Valuation posture

Of 81 valued US positions, 14 trade below a conservative value band (1 in the strike zone) (as of 2026-10-16):

Pdd Holdings, IncPDD76% · strike
Joyy, IncJOYY32% · below
Adobe, IncADBE29% · below
Fiserv, IncFISV27% · below
Acm Research, IncACMR22% · below
Occidental Petroleum CorpOXY19% · below

SEC 13F · latest filing

Holdings

Security	Value	Valuation	Holders	Shares	Weight	Signal
Johnson Controls International PlcJCI	$8.15B	—	5	55,776,006	4.3%	—
The Charles Schwab CorpSCHW	$7.10B	—	12	76,968,323	3.7%	—
Rtx CorpRTX	$6.66B	—	7	35,113,249	3.5%	—
Cvs Health CorpCVS	$5.17B	—	13	50,012,765	2.7%	—
Microsoft CorpMSFT	$4.79B	—	42	12,836,229	2.5%	—
Booking Holdings, IncBKNG	$4.55B	—	7	25,536,950	2.4%	Adding · 3 quarters
Humana, IncHUM	$4.35B	—	5	10,940,380	2.3%	—
Alphabet, IncGOOG	$4.23B	—	35	11,961,097	2.2%	—
Metlife, IncMET	$4.10B	—	4	48,431,150	2.1%	—
Sunbelt Rentals Holdings, IncSUNB	$4.10B	—	11	54,761,610	2.1%	—
Amazon.Com, IncAMZN	$3.98B	—	38	16,708,513	2.1%	—
Alphabet, IncGOOGL	$3.81B	—	40	10,658,860	2.0%	—
Unitedhealth Group, IncUNH	$3.77B	—	19	9,072,258	2.0%	—
Meta Platforms, IncMETA	$3.66B	—	34	6,489,255	1.9%	—
Occidental Petroleum CorpOXY	$3.53B	Below value	4	72,764,944	1.9%	—
Te Connectivity PlcTEL	$3.42B	—	9	16,968,886	1.8%	—
The Cigna GroupCI	$3.36B	—	10	12,173,875	1.8%	Adding · 6 quarters
Regeneron Pharmaceuticals, IncREGN	$3.04B	—	5	4,871,137	1.6%	—
Gilead Sciences, IncGILD	$2.99B	—	4	23,677,567	1.6%	—
International Flavors & Fragrances, IncIFF	$2.93B	—	5	37,007,037	1.5%	—
Aon PlcAON	$2.85B	—	12	8,593,144	1.5%	Adding · 4 quarters
Comcast CorpCMCSA	$2.85B	Below value· unconf.	16	115,903,125	1.5%	Adding · 7 quarters
Air Products & Chemicals, IncAPD	$2.75B	—	6	9,393,493	1.4%	—
Fortive CorpFTV	$2.69B	—	4	43,979,772	1.4%	—
Brookfield CorpBN	$2.61B	—	8	61,210,651	1.4%	Adding · 3 quarters

Johnson Controls International PlcJCI—
Value$8.15BValuation—Holders5Weight4.3%
The Charles Schwab CorpSCHW—
Value$7.10BValuation—Holders12Weight3.7%
Rtx CorpRTX—
Value$6.66BValuation—Holders7Weight3.5%
Cvs Health CorpCVS—
Value$5.17BValuation—Holders13Weight2.7%
Microsoft CorpMSFT—
Value$4.79BValuation—Holders42Weight2.5%
Booking Holdings, IncBKNGAdding · 3 quarters
Value$4.55BValuation—Holders7Weight2.4%
Humana, IncHUM—
Value$4.35BValuation—Holders5Weight2.3%
Alphabet, IncGOOG—
Value$4.23BValuation—Holders35Weight2.2%
Metlife, IncMET—
Value$4.10BValuation—Holders4Weight2.1%
Sunbelt Rentals Holdings, IncSUNB—
Value$4.10BValuation—Holders11Weight2.1%
Amazon.Com, IncAMZN—
Value$3.98BValuation—Holders38Weight2.1%
Alphabet, IncGOOGL—
Value$3.81BValuation—Holders40Weight2.0%
Unitedhealth Group, IncUNH—
Value$3.77BValuation—Holders19Weight2.0%
Meta Platforms, IncMETA—
Value$3.66BValuation—Holders34Weight1.9%
Occidental Petroleum CorpOXY—
Value$3.53BValuationBelow valueHolders4Weight1.9%
Te Connectivity PlcTEL—
Value$3.42BValuation—Holders9Weight1.8%
The Cigna GroupCIAdding · 6 quarters
Value$3.36BValuation—Holders10Weight1.8%
Regeneron Pharmaceuticals, IncREGN—
Value$3.04BValuation—Holders5Weight1.6%
Gilead Sciences, IncGILD—
Value$2.99BValuation—Holders4Weight1.6%
International Flavors & Fragrances, IncIFF—
Value$2.93BValuation—Holders5Weight1.5%
Aon PlcAONAdding · 4 quarters
Value$2.85BValuation—Holders12Weight1.5%
Comcast CorpCMCSAAdding · 7 quarters
Value$2.85BValuationBelow value· unconf.Holders16Weight1.5%
Air Products & Chemicals, IncAPD—
Value$2.75BValuation—Holders6Weight1.4%
Fortive CorpFTV—
Value$2.69BValuation—Holders4Weight1.4%
Brookfield CorpBNAdding · 3 quarters
Value$2.61BValuation—Holders8Weight1.4%

Showing top 25 of 222 positions

Exited this quarter (9)Lyondellbasell Industries Nv、Liberty Global, Ltd、Honeywell International, Inc、Ebay, Inc、Pricesmart, Inc、Loma Negra Cia Industrial Argentina Sa、Dupont De Nemours, Inc、Intuitive Surgical, Inc、Halliburton Co

What is a superinvestor

About this investor

Portfolio overview

Dodge & Cox's most recent 13F filing, for the quarter ended 2026-06-30, reports 222 positions worth $191.01B. The top 5 holdings represent 17% of that value, a broadly diversified portfolio.

The single largest position is Johnson Controls International Plc at 4.3% of the portfolio, followed by The Charles Schwab Corp at 3.7% and Rtx Corp at 3.5%.

Against the prior quarter, Dodge & Cox opened 9 new positions, exited 9, added to 71, and trimmed 92. The largest new buy was Fedex Freight Holding Co., Inc. The most notable sale was the full exit from Lyondellbasell Industries Nv.

Across all 8 quarters on file, Johnson Controls International Plc has appeared in every filing, as has The Charles Schwab Corp. Johnson Controls International Plc currently ranks first by value.

A 13F is filed roughly 45 days after quarter-end and covers only long positions in US-listed equities, so it is a lagging and partial view of the portfolio. Source: SEC EDGAR.

Dodge & Cox holds 1 position now in the strike zone. See the full strike-zone list

Sources· SEC EDGAR 13F as of 2026-06-30 · filed 2026-08-13

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