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Asset manager

Dodge & Cox

13F for the quarter to June 30, 2026, filed August 13, 2026 · SEC CIK 200217

Reported value
$191.0bn
94% in companies we cover
Positions we cover
202
Largest JCI 4.3%
Copy, a year
+13.2%
S&P 500 +14.1%
Copy Sharpe ratio
0.65
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$51.3k
CopyS&P 500 $10,000 copying Dodge & Cox's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −39.8% (S&P 500 −31.8%); beta 1.04; alpha −0.8% a year (t = −0.35); last 12 months +13.8% against +12.1%.

Reported value by quarter

Dodge & Cox: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $50T $100T $150T Reported value, 2013-06-30: $84.2B Reported value, 2013-09-30: $88B Reported value, 2013-12-31: $95.9B Reported value, 2014-03-31: $97.8B Reported value, 2014-06-30: $104.9B Reported value, 2014-09-30: $104.6B Reported value, 2014-12-31: $107.6B Reported value, 2015-03-31: $108.5B Reported value, 2015-06-30: $110.9B Reported value, 2015-09-30: $99.4B Reported value, 2015-12-31: $101.9B Reported value, 2016-03-31: $102.2B Reported value, 2016-06-30: $101.3B Reported value, 2016-09-30: $106.4B Reported value, 2016-12-31: $112.5B Reported value, 2017-03-31: $117.7B Reported value, 2017-06-30: $118.6B Reported value, 2017-09-30: $124.3B Reported value, 2017-12-31: $129.1B Reported value, 2018-03-31: $123.9B Reported value, 2018-06-30: $125.2B Reported value, 2018-09-30: $130.7B Reported value, 2018-12-31: $109.1B Reported value, 2019-03-31: $121.8B Reported value, 2019-06-30: $123.6B Reported value, 2019-09-30: $121.5B Reported value, 2019-12-31: $130.6B Reported value, 2020-03-31: $92.4B Reported value, 2020-06-30: $108.7B Reported value, 2020-09-30: $109.3B Reported value, 2020-12-31: $126.5B Reported value, 2021-03-31: $139.9B Reported value, 2021-06-30: $152.9B Reported value, 2021-09-30: $153.5B Reported value, 2021-12-31: $161.5B Reported value, 2022-03-31: $164.6B Reported value, 2022-06-30: $144.5B Reported value, 2022-09-30: $132B Reported value, 2022-12-31: $145.8T Reported value, 2023-03-31: $146.8B Reported value, 2023-06-30: $149.9B Reported value, 2023-09-30: $148.4B Reported value, 2023-12-31: $157.6B Reported value, 2024-03-31: $172.4B Reported value, 2024-06-30: $166.6B Reported value, 2024-09-30: $176.8B Reported value, 2024-12-31: $171.8B Reported value, 2025-03-31: $175.5B Reported value, 2025-06-30: $178B Reported value, 2025-09-30: $185.3B Reported value, 2025-12-31: $185.3B Reported value, 2026-03-31: $182B Reported value, 2026-06-30: $191B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $191B
View chart data
Period Reported value
2013-06-30 $84.2B
2013-09-30 $88B
2013-12-31 $95.9B
2014-03-31 $97.8B
2014-06-30 $104.9B
2014-09-30 $104.6B
2014-12-31 $107.6B
2015-03-31 $108.5B
2015-06-30 $110.9B
2015-09-30 $99.4B
2015-12-31 $101.9B
2016-03-31 $102.2B
2016-06-30 $101.3B
2016-09-30 $106.4B
2016-12-31 $112.5B
2017-03-31 $117.7B
2017-06-30 $118.6B
2017-09-30 $124.3B
2017-12-31 $129.1B
2018-03-31 $123.9B
2018-06-30 $125.2B
2018-09-30 $130.7B
2018-12-31 $109.1B
2019-03-31 $121.8B
2019-06-30 $123.6B
2019-09-30 $121.5B
2019-12-31 $130.6B
2020-03-31 $92.4B
2020-06-30 $108.7B
2020-09-30 $109.3B
2020-12-31 $126.5B
2021-03-31 $139.9B
2021-06-30 $152.9B
2021-09-30 $153.5B
2021-12-31 $161.5B
2022-03-31 $164.6B
2022-06-30 $144.5B
2022-09-30 $132B
2022-12-31 $145.8T
2023-03-31 $146.8B
2023-06-30 $149.9B
2023-09-30 $148.4B
2023-12-31 $157.6B
2024-03-31 $172.4B
2024-06-30 $166.6B
2024-09-30 $176.8B
2024-12-31 $171.8B
2025-03-31 $175.5B
2025-06-30 $178B
2025-09-30 $185.3B
2025-12-31 $185.3B
2026-03-31 $182B
2026-06-30 $191B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
JCIJohnson Controls4.27%$8.1bn55.78M−3.0% Reduced
SCHWCharles Schwab Corporation3.72%$7.1bn76.97M+2.6% Added
RTXRTX Corporation3.49%$6.7bn35.11M−1.0% Reduced
CVSCVS Health2.71%$5.2bn50.01M−3.4% Reduced
MSFTMicrosoft Corporation2.51%$4.8bn12.84M+7.3% Added
BKNGBooking Holdings2.38%$4.6bn25.54M+2460.1% Added
HUMHumana2.27%$4.3bn10.94M−3.9% Reduced
METMetLife2.15%$4.1bn48.43M−5.3% Reduced
SUNBSunbelt Rentals Holdings, Inc.2.15%$4.1bn54.76M+3.1% Added
AMZNAmazon2.08%$4.0bn16.71M+10.6% Added
GOOGLAlphabet Inc. (Class A)1.99%$3.8bn10.66M+0.3%
UNHUnitedHealth Group1.97%$3.8bn9.07M−4.2% Reduced
METAMeta Platforms1.91%$3.7bn6.49M+29.4% Added
OXYOccidental Petroleum1.85%$3.5bn72.76M−1.8% Reduced
TELTE Connectivity1.79%$3.4bn16.97M+15.5% Added
CICigna1.76%$3.4bn12.17M+5.3% Added
REGNRegeneron Pharmaceuticals1.59%$3.0bn4.87M+9.3% Added
GILDGilead Sciences1.57%$3.0bn23.68M−2.4% Reduced
IFFInternational Flavors & Fragrances1.53%$2.9bn37.01M+1.5% Added
AONAon plc1.49%$2.9bn8.59M+5.9% Added
CMCSAComcast1.49%$2.8bn115.90M+2.5% Added
APDAir Products1.44%$2.8bn9.39M+1.8% Added
FTVFortive1.41%$2.7bn43.98M+1.9% Added
WFCWells Fargo1.35%$2.6bn31.33M+0.5% Added
GSKGSK plc1.32%$2.5bn48.20M−17.8% Reduced
FISVFiserv1.29%$2.5bn50.19M−0.1%
BUDAnheuser-busch Inbev SA1.27%$2.4bn29.48M−0.7% Reduced
GEHCGE HealthCare1.27%$2.4bn37.86M+20.9% Added
BNYBNY Mellon1.26%$2.4bn16.61M−29.0% Reduced
ROPRoper Technologies1.25%$2.4bn7.06M+111.2% Added
FDXFedEx1.19%$2.3bn7.23M−27.5% Reduced
SBACSBA Communications1.14%$2.2bn12.32M+2.0% Added
AJGArthur J. Gallagher & Co.1.13%$2.1bn9.36M+27.3% Added
CHTRCharter Communications1.12%$2.1bn15.03M+2.8% Added
WTWWillis Towers Watson1.10%$2.1bn8.03M+9.5% Added
ZBHZimmer Biomet1.09%$2.1bn24.12M+2.5% Added
CARRCarrier Global1.05%$2.0bn27.48M+3.2% Added
BKRBaker Hughes1.01%$1.9bn34.85M−2.8% Reduced
FISFidelity National Information Services1.00%$1.9bn49.07M0.0%
VVisa Inc.0.97%$1.9bn5.42M+630554.9% Added
COFCapital One0.96%$1.8bn9.12M+3.9% Added
TRUTransunion0.91%$1.7bn24.20M+49.5% Added
UBSUBS Group AG0.87%$1.7bn33.63M0.0%
ELANElanco Animal Health Inc0.87%$1.7bn67.40M−2.2% Reduced
TMOThermo Fisher Scientific0.80%$1.5bn3.05M+11767.4% Added
HLNHaleon plc0.73%$1.4bn149.93M+2.3% Added
SUSuncor Energy Inc0.71%$1.4bn25.37M−3.4% Reduced
INCYIncyte0.71%$1.4bn11.96M−2.4% Reduced
LPLALPL Financial Holdings Inc.0.68%$1.3bn4.58M+10.4% Added
CPNGCoupang, Inc.0.66%$1.3bn72.19M+0.3%
DDominion Energy0.65%$1.2bn18.30M−6.0% Reduced
BAXBaxter International0.65%$1.2bn58.39M+2.0% Added
AVTRAvantor, Inc.0.62%$1.2bn120.02M+0.3%
AEPAmerican Electric Power0.62%$1.2bn8.67M−0.7% Reduced
SUISUN Communities Inc0.60%$1.1bn9.50M−33.4% Reduced
FDXFFedEx Freight0.57%$1.1bn7.18MNew
ADMArcher Daniels Midland0.57%$1.1bn14.18M−10.0% Reduced
TDYTeledyne Technologies0.56%$1.1bn1.61M+0.5% Added
TMUST-Mobile US0.56%$1.1bn6.34M+2.9% Added
RALRalliant Corp0.54%$1.0bn14.01M+1.9% Added
NVONovo Nordisk A S0.51%$977.8m20.40M+5.5% Added
COPConocoPhillips0.50%$963.3m9.27M−3.9% Reduced
BABAAlibaba Group Holding Ltd0.50%$955.8m9.96M+0.4%
NBIXNeurocrine Biosciences Inc0.49%$941.2m5.58M+2.3% Added
HPQHP Inc.0.49%$935.3m42.63M+2.5% Added
BMRNBiomarin Pharmaceutical Inc0.45%$849.4m14.84M+1.9% Added
FCNCAFirst Citizens Bancshares Inc0.44%$841.1m404.2K+2.8% Added
NSCNorfolk Southern0.41%$789.0m2.51M−59.9% Reduced
TIGOMillicom International Cellular SA0.39%$745.9m8.22M+0.7% Added
TAPMolson Coors Beverage Co0.39%$742.8m19.07M+2.9% Added
KKRKKR & Co.0.39%$739.8m8.06MNew
CECelanese Corp0.37%$703.0m15.28M−0.4%
LINLinde plc0.36%$688.4m1.33M0.0%
TSMTaiwan Semiconductor Manufacturing Co LTD0.36%$688.1m1.44M+1236.5% Added
ADBEAdobe Inc.0.33%$638.6m3.11M+24.8% Added
MDTMedtronic0.32%$616.1m7.88M+2.4% Added
GLPIGaming & Leisure Properties, Inc.0.32%$613.3m13.77M+2.3% Added
ALNYAlnylam Pharmaceuticals, Inc.0.31%$588.6m1.96M+1.4% Added
FOXAFox Corporation (Class A)0.31%$585.4m11.22M+3.0% Added
CTSHCognizant0.29%$563.2m14.54M+1.9% Added
XPXP Inc.0.28%$529.5m32.56M−0.5%
MCHPMicrochip Technology Inc0.26%$504.6m5.53M−9.7% Reduced
AEGAegon LTD.0.20%$376.7m44.64M−11.7% Reduced
VFCVF Corporation0.20%$373.7m22.41M−32.2% Reduced
PDDPDD Holdings Inc.0.18%$347.1m4.55M+0.3%
BNTXBiontech SE0.18%$342.2m3.68M0.0%
YUMCYum China Holdings, Inc.0.18%$341.9m8.37M+0.2%
TRPTC Energy Corp0.17%$333.8m5.03M−43.4% Reduced
NWSANews Corp (Class A)0.16%$311.3m12.54M+2.3% Added
JDJd.com, Inc.0.16%$310.7m12.19M0.0%
NTESNetease, Inc.0.14%$277.1m2.16M+0.3%
GEGE Aerospace0.12%$223.5m598.1K−19.0% Reduced
COHRCoherent Corp.0.11%$214.7m544.2K−2.6% Reduced
HDBHdfc Bank LTD0.09%$172.5m6.68M+17.4% Added
VSNTVersant Media Group, Inc.0.08%$161.0m4.47M−0.9% Reduced
GEVGE Vernova0.08%$144.4m122.9K−4.9% Reduced
GSGoldman Sachs0.07%$135.7m134.1K−90.3% Reduced
BACBank of America0.05%$99.3m1.74M−4.3% Reduced
AXPAmerican Express0.05%$91.8m271.3K−2.2% Reduced
CDNSCadence Design Systems Inc0.04%$85.6m228.0K−1.3% Reduced
UNPUnion Pacific Corporation0.04%$71.0m260.9K0.0%
WMBWilliams Companies0.04%$70.2m944.5K−2.3% Reduced
FLUTFlutter Entertainment plc0.03%$64.3m628.9K0.0%
LLYLilly (Eli)0.03%$49.5m41.3K−1.8% Reduced
DHRDanaher Corporation0.03%$49.0m257.0K+1462.5% Added
NESRNational Energy Services Reunited Corp.0.03%$47.8m1.60M−0.3%
CATCaterpillar Inc.0.02%$42.0m39.4K−1.5% Reduced
JPMJPMorgan Chase0.02%$38.3m117.1K−1.1% Reduced
CVXChevron Corporation0.02%$33.6m202.5K−1.3% Reduced
TRVThe Travelers Companies0.02%$29.8m90.1K−2.9% Reduced
DISThe Walt Disney Company0.01%$25.1m261.0K−2.2% Reduced
WMTWalmart0.01%$19.5m172.4K−1.1% Reduced
MRKMerck & Co.0.01%$17.4m135.8K−0.2%
ACMRACM Research, Inc.0.01%$14.8m116.4K−2.9% Reduced
PGProcter & Gamble0.01%$13.3m90.7K−0.1%
IBMIBM0.01%$12.9m46.0K−1.3% Reduced
TGTTarget Corporation0.01%$12.5m95.6K−1.1% Reduced
AZNAstrazeneca PLC0.01%$10.6m55.9K−2.7% Reduced
CSCOCisco0.01%$10.4m88.4K−15.9% Reduced
AAPLApple Inc.0.01%$9.1m31.4K−0.7% Reduced
GLWCorning Inc.0.01%$8.9m34.7K−4.6% Reduced
DEDeere & Company0.00%$8.0m12.6K0.0%
HDThe Home Depot0.00%$7.9m22.4K−0.3%
ADIAnalog Devices0.00%$7.6m19.2K−4.1% Reduced
DELLDell Technologies0.00%$7.4m17.3K−8.7% Reduced
AVGOBroadcom0.00%$7.3m19.3K0.0%
VMCVulcan Materials Company0.00%$7.1m24.0K0.0%
STTState Street Corporation0.00%$5.7m33.3K−99.0% Reduced
JNJJohnson & Johnson0.00%$5.3m20.9K0.0%
AMGNAmgen0.00%$4.6m12.8K−4.1% Reduced
SLBSchlumberger0.00%$4.6m98.4K−10.4% Reduced
MSIMotorola Solutions0.00%$4.5m10.9K−3.5% Reduced
SNPSSynopsys Inc0.00%$4.5m10.1K−1.0% Reduced
SHELShell plc0.00%$4.2m54.3K−1.3% Reduced
TBBBBBB Foods Inc0.00%$3.8m90.7K0.0%
BSXBoston Scientific0.00%$3.7m87.5K−1.6% Reduced
KAROKarooooo Ltd.0.00%$3.4m69.7K+65.1% Added
PNCPNC Financial Services0.00%$3.4m14.0K−0.3%
MELIMercadolibre Inc0.00%$3.4m2.0K0.0%
PMPhilip Morris International0.00%$3.0m16.5K0.0%
BIDUBaidu, Inc.0.00%$3.0m26.0K−5.5% Reduced
HPEHewlett Packard Enterprise0.00%$2.9m63.5K−17.3% Reduced
JOYYJoyy Inc.0.00%$2.7m41.0K−2.4% Reduced
ABBVAbbVie0.00%$2.6m10.4K0.0%
VIPSVipshop Holdings Ltd0.00%$2.5m190.8K0.0%
PHParker Hannifin0.00%$2.4m2.5K0.0%
BMYBristol Myers Squibb0.00%$2.4m42.4K−99.1% Reduced
SESea Ltd0.00%$2.2m22.9KNew
SPGIS&P Global0.00%$2.1m5.2K−3.7% Reduced
PFEPfizer0.00%$2.1m87.8K−0.8% Reduced
CompanyBought (value)Shares
BKNGBooking Holdings$4.4bn24.54M
VVisa Inc.$1.9bn5.42M
TMOThermo Fisher Scientific$1.5bn3.03M
ROPRoper Technologies$1.3bn3.72M
FDXFFedEx Freight$1.1bn7.18M
METAMeta Platforms$830.8m1.47M
KKRKKR & Co.$739.8m8.06M
TSMTaiwan Semiconductor Manufacturing Co LTD$636.6m1.33M
TRUTransunion$577.6m8.01M
AJGArthur J. Gallagher & Co.$461.1m2.01M
TELTE Connectivity$459.7m2.28M
GEHCGE HealthCare$419.4m6.55M
AMZNAmazon$381.0m1.60M
MSFTMicrosoft Corporation$326.9m876.3K
REGNRegeneron Pharmaceuticals$257.5m412.9K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
LYBLyondellBasell−$1.4bn−16.84M
GSGoldman Sachs−$1.3bn−1.25M
NSCNorfolk Southern−$1.2bn−3.75M
BNYBNY Mellon−$982.4m−6.79M
FDXFedEx−$861.2m−2.75M
STTState Street Corporation−$587.9m−3.47M
SUISUN Communities Inc−$571.4m−4.77M
GSKGSK plc−$548.6m−10.47M
BMYBristol Myers Squibb−$263.9m−4.58M
TRPTC Energy Corp−$255.7m−3.86M
JCIJohnson Controls−$252.8m−1.73M
METMetLife−$227.1m−2.68M
CVSCVS Health−$182.8m−1.77M
VFCVF Corporation−$177.1m−10.62M
HUMHumana−$174.9m−440.3K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
LYBLyondellBasell$1.4bn16.84M
LBTYKLiberty Global Ltd.$61.6m5.26M
EBAYeBay Inc.$1.1m11.8K
PSMTPricesmart Inc$926,4786.2K
ISRGIntuitive Surgical$230,495500
HALHalliburton$214,4455.5K
  • Health Care23.6%
  • Financials20.7%
  • Industrials16.6%
  • Technology9.1%
  • Communication Services8.7%
  • Consumer Discretionary6.8%
  • Energy4.6%
  • Materials3.9%
  • Consumer Staples2.4%
  • Real Estate2.2%
  • Utilities1.4%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+13.2%+14.1%0.650.78−39.8%1.04
2018 onwardsJanuary 5, 2018 to November 2, 2026+11.1%+13.9%0.480.66−39.8%1.02
Last three yearsNovember 3, 2023 to November 2, 2026+16.8%+21.8%0.911.16−13.0%0.73
Last yearNovember 7, 2025 to November 2, 2026+14.3%+14.2%0.910.84−7.4%0.56

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.