Smart Money
T

Team

Dodge & Cox Stock·value·US mutual funds
DODGX

~11% since 1965

Portfolio value

$116.9B

Positions

84

Top 5 concentration

18%

New buys this quarter

3

Recent moves vs Mar 2026

$2330.TWNew buy3.6%
$VNew buy1%
$TMONew buy0.9%
$AMZNAdded2.2%
$METAAdded2.1%
$BKNGAdded1.8%
$REGNAdded1.7%
$TELAdded1.5%
$ROPAdded1.3%
$GEHCAdded1.3%
$AJGAdded1.2%
$TRUAdded0.9%
$WTWAdded0.8%
$JCITrimmed3.3%
$CVSTrimmed2.8%
$METTrimmed2.5%
$UNHTrimmed2.1%
$GSKTrimmed1.6%
$BNYTrimmed1.4%
$FDXTrimmed1.3%
$BKRTrimmed1.2%
$LYBSold out
$RHHBYSold out

Holdings

StockMove% of portfolioValue
$SCHW

The Charles Schwab Corp.

Held
4.1%
$4.7B
$RTX

RTX Corp.

Held
3.8%
$4.4B
$2330.TW

Taiwan Semiconductor Manufacturing Co., Ltd.

New buy
3.6%
$4.2B
$JCI

Johnson Controls International PLC

Trimmed
3.3%
$3.9B
$CVS

CVS Health Corp.

Trimmed
2.8%
$3.3B
$MSFT

Microsoft Corp.

Held
2.6%
$3.0B
$GOOGL

Alphabet, Inc.

Held
2.5%
$3.0B
$MET

MetLife, Inc.

Trimmed
2.5%
$2.9B
$HUM

Humana, Inc.

Held
2.5%
$2.9B
$AMZN

Amazon.com, Inc.

Added
2.2%
$2.6B
$UNH

UnitedHealth Group, Inc.

Trimmed
2.1%
$2.5B
$META

Meta Platforms, Inc.

Added
2.1%
$2.5B
$OXY

Occidental Petroleum Corp.

Held
2%
$2.4B
$CI

The Cigna Group

Held
1.9%
$2.2B
$GILD

Gilead Sciences, Inc.

Held
1.9%
$2.2B
$BKNG

Booking Holdings, Inc.

Added
1.8%
$2.1B
$SUNB

Sunbelt Rentals Holdings, Inc.

Held
1.7%
$2.0B
$REGN

Regeneron Pharmaceuticals, Inc.

Added
1.7%
$1.9B
$GOOG

Alphabet, Inc.

Held
1.6%
$1.9B
$GSK

GSK PLC

Trimmed
1.6%
$1.9B
$CMCSA

Comcast Corp.

Held
1.6%
$1.9B
$WFC

Wells Fargo & Co.

Held
1.6%
$1.8B
$APD

Air Products & Chemicals, Inc.

Held
1.5%
$1.8B
$BUD

Anheuser-Busch InBev SA/NV

Held
1.5%
$1.8B
$TEL

TE Connectivity PLC

Added
1.5%
$1.8B
$FTV

Fortive Corp.

Held
1.5%
$1.7B
$BNY

The Bank of New York Mellon Corp.

Trimmed
1.4%
$1.7B
$FISV

Fiserv, Inc.

Held
1.3%
$1.6B
$ROP

Roper Technologies, Inc.

Added
1.3%
$1.6B
$GEHC

GE HealthCare Technologies, Inc.

Added
1.3%
$1.5B
$FDX

FedEx Corp.

Trimmed
1.3%
$1.5B
$CARR

Carrier Global Corp.

Held
1.3%
$1.5B
$BKR

Baker Hughes Co.

Trimmed
1.2%
$1.4B
$AJG

Arthur J Gallagher & Co.

Added
1.2%
$1.4B
$CHTR

Charter Communications, Inc.

Held
1.2%
$1.4B
$IFF

International Flavors & Fragrances, Inc.

Held
1.2%
$1.4B
$SBAC

SBA Communications Corp.

Held
1.2%
$1.4B
$ZBH

Zimmer Biomet Holdings, Inc.

Held
1.1%
$1.3B
$COF

Capital One Financial Corp.

Held
1.1%
$1.3B
$FIS

Fidelity National Information Services, Inc.

Held
1.1%
$1.3B
$BN.TO

Brookfield Corp.

Held
1.1%
$1.2B
$AON

Aon PLC

Held
1%
$1.2B
$V

Visa, Inc.

New buy
1%
$1.2B
$TRU

TransUnion

Added
0.9%
$1.1B
$ELAN

Elanco Animal Health, Inc.

Held
0.9%
$1.1B
$TMO

Thermo Fisher Scientific, Inc.

New buy
0.9%
$1.0B
$HLN

Haleon PLC

Held
0.9%
$1.0B
$WTW

Willis Towers Watson PLC

Added
0.8%
$987M
$INCY

Incyte Corp.

Held
0.8%
$902M
$SNY

Sanofi SA

Held
0.8%
$892M

Showing top 50 of 84 equity positions (this fund runs a diversified book).

Notable sell-outs this quarter: $LYB, $RHHBY

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