Team

Dodge & Cox Stock·value·Retail & diversified funds

DODGX

~11% since 1965

Portfolio value

$110.6B

Positions

Top 5 concentration

18%

New buys this quarter

Track record vs S&P 500

$DODGX · total return since 2003

$10k grew to

$78k

CAGR

9.3%

vs S&P 500

-1.1%/yr

See the full comparison chart

Quarterly activity

What Team bought and sold each quarter.

Mar 2026vs Dec 2025

Bought (15)

$SUNBNew buy1.6%$ROPNew buy0.7%$NVONew buy0.5%$VSNTNew buy0.1%$MSFTAdded+66.7%$BKNGAdded+34.3%$CARRAdded+105.1%$BN.TOAdded+38.8%$AJGAdded+981.9%$LPLAAdded+5.3%$TRUAdded+55.3%$FCNCAAdded+1362.8%$HPQAdded+18.9%$ADBEAdded+14.9%$RALAdded+15.9%

Sold (25)

$AHT.LSold out$GETrimmed-93.6%$SNYTrimmed-49.9%$BMYTrimmed-37.4%$FDXTrimmed-34.2%$AEGTrimmed-28.4%$STTTrimmed-27.7%$NSCTrimmed-27%$NVSTrimmed-25.2%$VFCTrimmed-24.2%$RHHBYTrimmed-22.2%$GSTrimmed-19.3%$CVSTrimmed-19.3%$GSKTrimmed-15%$ELANTrimmed-14.8%$DTrimmed-12.9%$BKRTrimmed-11.4%$BUDTrimmed-10.5%$BNYTrimmed-8.8%$GOOGTrimmed-8.3%$INCYTrimmed-7.9%$OXYTrimmed-7.4%$COPTrimmed-7.3%$AEPTrimmed-7.3%$GILDTrimmed-7.2%

Dec 2025vs Sep 2025

Bought (19)

$BN.TONew buy0.8%$TRUNew buy0.5%$AJGNew buy0.1%$FCNCANew buy0%$METAAdded+28.3%$FISVAdded+20.1%$FISAdded+15.6%$CHTRAdded+23.3%$CIAdded+17.9%$GEHCAdded+18.1%$SBACAdded+25.8%$AONAdded+104.8%$WTWAdded+140.5%$TMUSAdded+66.7%$LPLAAdded+17.7%$ADMAdded+16.4%$ADBEAdded+61.3%$RALAdded+15.2%$IEXAdded+233.8%

Sold (25)

$SATSSold out$STTTrimmed-31.8%$BNYTrimmed-28.4%$COFTrimmed-25.9%$GSTrimmed-21.6%$GETrimmed-20.7%$SNYTrimmed-19.5%$AEGTrimmed-18.2%$ALNYTrimmed-17.4%$WFCTrimmed-17.2%$NVSTrimmed-16.5%$RHHBYTrimmed-15.5%$GILDTrimmed-13.8%$GSKTrimmed-13.4%$CVSTrimmed-12.9%$NSCTrimmed-12.4%$FOXATrimmed-12.4%$GOOGTrimmed-10.9%$BUDTrimmed-10%$SCHWTrimmed-8.9%$BKRTrimmed-8.5%$CTSHTrimmed-8.4%$AMZNTrimmed-7.9%$TELTrimmed-7.8%$JCITrimmed-7.8%

Sep 2025vs Jun 2025

Bought (22)

$AONNew buy0.6%$ADBENew buy0.3%$IEXNew buy0%$000660.KSNew buy0%$FISVAdded+31.1%$FDXAdded+13.5%$UNHAdded+8.6%$CHTRAdded+6.5%$FISAdded+21.2%$REGNAdded+20.3%$ZBHAdded+6.3%$GEHCAdded+18.7%$FTVAdded+33.5%$SBACAdded+14.3%$IFFAdded+7.6%$BAXAdded+9.5%$TDYAdded+13.5%$LPLAAdded+22.8%$CARRAdded+6.6%$TAPAdded+35.4%$ADMAdded+190.1%$WTWAdded+239.4%

Sold (13)

$GSTrimmed-34.8%$GETrimmed-33.4%$ALNYTrimmed-26.7%$WFCTrimmed-24.6%$BACTrimmed-14.3%$BMYTrimmed-12.4%$TMUSTrimmed-9.2%$SATSTrimmed-8.9%$STTTrimmed-8.8%$COPTrimmed-7.8%$BKNGTrimmed-6.9%$BNYTrimmed-5.9%$METATrimmed-5.1%

Jun 2025vs Mar 2025

Bought (17)

$TDYNew buy0.5%$RALNew buy0.3%$MCHPNew buy0.3%$ADMNew buy0.2%$WTWNew buy0.1%$CMCSAAdded+21.4%$FDXAdded+5.7%$METAAdded+19.8%$UNHAdded+117.4%$HUMAdded+5.2%$AHT.LAdded+11.1%$ZBHAdded+13.9%$REGNAdded+56.3%$GEHCAdded+40.7%$FTVAdded+40.3%$AVTRAdded+12%$LPLAAdded+443.5%

Sold (25)

$WMBSold out$CSCOSold out$GAPTrimmed-82.3%$BMYTrimmed-39.1%$GETrimmed-37.8%$TMUSTrimmed-31.9%$FOXATrimmed-30.5%$FOXTrimmed-28%$AEGTrimmed-25%$GOOGTrimmed-22.8%$COFTrimmed-21.4%$BACTrimmed-16.9%$AEPTrimmed-15.5%$MSFTTrimmed-13.1%$CARRTrimmed-12.8%$CTSHTrimmed-11.9%$WFCTrimmed-11.5%$NVSTrimmed-11%$BKNGTrimmed-9%$BNYTrimmed-8.5%$HLNTrimmed-8.5%$BUDTrimmed-6.9%$ALNYTrimmed-6%$GILDTrimmed-5.8%$NWSATrimmed-5.4%

Mar 2025vs Dec 2024

Bought (19)

$FISVNew buy4.1%$BNYNew buy2.3%$GENew buy1.9%$METANew buy1.2%$AHT.LNew buy1.1%$UBSG.SWNew buy0.4%$2330.TWNew buy0.3%$OXYAdded+14.5%$GSKAdded+16.8%$CMCSAAdded+20.5%$HUMAdded+5.2%$APDAdded+33.9%$SUIAdded+46.1%$SBACAdded+8.9%$FTVAdded+209.4%$CEAdded+15.1%$NBIXAdded+101.3%$NWSAAdded+17.8%$LPLAAdded+54.2%

Sold (18)

$BKSold out$FBSold out$GNESold out$FISold out$AHTSold out$COHRTrimmed-41%$TMUSTrimmed-37.6%$BACTrimmed-33.3%$WMBTrimmed-26.4%$WFCTrimmed-18.7%$FOXTrimmed-13.5%$GSTrimmed-12.8%$BMYTrimmed-12.3%$JCITrimmed-11.6%$RHHBYTrimmed-6.9%$GOOGTrimmed-6.8%$ALNYTrimmed-6.3%$CSCOTrimmed-5.3%

Dec 2024vs Sep 2024

Bought (22)

$FINew buy4.1%$FTVNew buy0.3%$LPLANew buy0.1%$FDXAdded+5.3%$CVSAdded+9.2%$CMCSAAdded+8.4%$HUMAdded+106.3%$BUDAdded+28.6%$AVTRAdded+46.9%$ZBHAdded+15.1%$IFFAdded+16%$SBACAdded+388.9%$BAXAdded+14.2%$AHTAdded+11.9%$SUIAdded+64.5%$LYBAdded+6.6%$BMRNAdded+9.6%$CEAdded+98.1%$MDTAdded+13.1%$GLPIAdded+85.3%$NWSAAdded+15.3%$NBIXAdded+181.2%

Sold (12)

$TFCSold out$FISVSold out$BACTrimmed-42%$GOOGTrimmed-32.1%$GSTrimmed-30.3%$FOXATrimmed-26.7%$STTTrimmed-26.6%$WFCTrimmed-18.1%$FISTrimmed-17.1%$OXYTrimmed-12%$COFTrimmed-7%$BKTrimmed-6.9%

Sep 2024vs Jun 2024

Bought (9)

$FBNew buy1.3%$APDNew buy1.2%$SBACNew buy0.2%$AVTRAdded+6.9%$AHTAdded+25.8%$BAXAdded+66.1%$HUMAdded+14.8%$SUIAdded+9.9%$GLPIAdded+22.6%

Sold (9)

$METASold out$JNPRTrimmed-59.4%$TFCTrimmed-48.3%$COHRTrimmed-25.3%$GOOGTrimmed-18.3%$STTTrimmed-17.3%$BACTrimmed-12.2%$BKTrimmed-6%$FISVTrimmed-5.6%

Jun 2024vs Mar 2024

Bought (9)

$GNENew buy1.6%$HUMNew buy1%$AHTNew buy0.7%$GAPNew buy0.5%$JCIAdded+8.9%$CVSAdded+49.7%$NSCAdded+34.1%$AVTRAdded+5.2%$VFCAdded+16.6%

Sold (11)

$HPESold out$GESold out$MCHPSold out$GPSSold out$CITrimmed-35.3%$STTTrimmed-33.1%$BHFTrimmed-23.6%$WFCTrimmed-19.7%$COFTrimmed-19.4%$BACTrimmed-13.9%$AEGTrimmed-5.1%

Quarter-over-quarter change in disclosed positions. Diversified book — only the larger sell-outs are shown.

Holdings

Stock	Move	% of portfolio	Reported px	Now	Since report
$SCHW The Charles Schwab Corp.	Held	4.4%	$93.98	$101.91	+8.4%
$RTX RTX Corp.	Held	4.2%	$192.90	$195.20	+1.2%
$JCI Johnson Controls International PLC	Held	3.3%	$130.95	$140.53	+7.3%
$OXY Occidental Petroleum Corp.	Trimmed	3%	$65.00	$52.30	-19.5%
$MSFT Microsoft Corp.	Added	2.6%	$370.17	$384.36	+3.8%
$MET MetLife, Inc.	Held	2.4%	$70.72	$91.15	+28.9%
$GILD Gilead Sciences, Inc.	Trimmed	2.3%	$139.37	$134.84	-3.3%
$FDX FedEx Corp.	Trimmed	2.2%	$356.18	$310.84	-12.7%
$CVS CVS Health Corp.	Trimmed	2.2%	$71.82	$102.81	+43.1%
$GOOGL Alphabet, Inc.	Held	2.2%	$287.56	$358.89	+24.8%
$GSK GSK PLC	Trimmed	2.1%	$55.19	$52.47	-4.9%
$REGN Regeneron Pharmaceuticals, Inc.	Held	2%	$772.64	$667.95	-13.5%
$CMCSA Comcast Corp.	Held	2%	$28.71	$23.35	-18.7%
$CHTR Charter Communications, Inc.	Held	1.9%	$215.88	$134.35	-37.8%
$CI The Cigna Group	Held	1.9%	$266.75	$291.80	+9.4%
$BNY The Bank of New York Mellon Corp.	Trimmed	1.9%	$118.63	$152.26	+28.3%
$AMZN Amazon.com, Inc.	Held	1.8%	$208.27	$247.04	+18.6%
$BKNG Booking Holdings, Inc.	Added	1.8%	$4210.32	$175.52	-95.8%
$META Meta Platforms, Inc.	Held	1.8%	$572.13	$631.48	+10.4%
$WFC Wells Fargo & Co.	Held	1.6%	$79.61	$86.91	+9.2%
$APD Air Products & Chemicals, Inc.	Held	1.6%	$290.49	$295.85	+1.8%
$FISV Fiserv, Inc.	Held	1.6%	$55.80	$51.65	-7.4%
$UNH UnitedHealth Group, Inc.	Held	1.6%	$270.59	$431.68	+59.5%
$SUNB Sunbelt Rentals Holdings, Inc.	New buy	1.6%	$65.09	$73.00	+12.2%
$BKR Baker Hughes Co.	Trimmed	1.5%	$61.05	$57.20	-6.3%
$GOOG Alphabet, Inc.	Trimmed	1.5%	$286.86	$356.24	+24.2%
$FIS Fidelity National Information Services, Inc.	Held	1.4%	$46.91	$41.61	-11.3%
$FTV Fortive Corp.	Held	1.4%	$55.28	$61.15	+10.6%
$BUD Anheuser-Busch InBev SA/NV	Trimmed	1.4%	$69.37	$79.34	+14.4%
$TEL TE Connectivity PLC	Held	1.4%	$209.02	$198.91	-4.8%
$GEHC GE HealthCare Technologies, Inc.	Held	1.4%	$71.18	$64.70	-9.1%
$ZBH Zimmer Biomet Holdings, Inc.	Held	1.3%	$90.42	$89.23	-1.3%
$SUI Sun Communities, Inc.	Held	1.2%	$125.96	$118.74	-5.7%
$SBAC SBA Communications Corp.	Held	1.2%	$172.11	$182.48	+6%
$HUM Humana, Inc.	Held	1.2%	$173.39	$397.76	+129.4%
$NSC Norfolk Southern Corp.	Trimmed	1.2%	$287.00	$323.77	+12.8%
$IFF International Flavors & Fragrances, Inc.	Held	1.1%	$72.55	$78.53	+8.2%
$AON Aon PLC	Held	1.1%	$322.78	$355.56	+10.2%
$COF Capital One Financial Corp.	Held	1%	$182.43	$200.10	+9.7%
$CARR Carrier Global Corp.	Added	1%	$56.31	$67.81	+20.4%
$BN.TO Brookfield Corp.	Added	1%	$40.47	$61.02	+50.8%
$AJG Arthur J Gallagher & Co.	Added	1%	$216.58	$253.76	+17.2%
$ELAN Elanco Animal Health, Inc.	Trimmed	1%	$23.93	$24.62	+2.9%
$HLN Haleon PLC	Held	1%	$10.01	$9.71	-3%
$SNY Sanofi SA	Trimmed	0.9%	$48.18	$43.90	-8.9%
$WTW Willis Towers Watson PLC	Held	0.9%	$290.70	$289.13	-0.5%
$TMUS T-Mobile U.S., Inc.	Held	0.9%	$210.03	$181.48	-13.6%
$COP ConocoPhillips	Trimmed	0.8%	$132.00	$108.02	-18.2%
$LYB LyondellBasell Industries NV	Held	0.8%	$80.56	$55.39	-31.2%
$D Dominion Energy, Inc.	Trimmed	0.8%	$61.82	$69.45	+12.3%

Showing top 50 of 85 equity positions (this fund runs a diversified book).

Notable sell-outs this quarter: $AHT.L

Source: SEC N-PORT via FMP · Mar 2026 report · monthly portfolio, public with a delay. Long equity positions only. Not financial advice.