Dodge & Cox
As of Q2 2026, Dodge & Cox reported 222 long-equity positions worth $191.01B in aggregate.
Copy-investor backtest
- Latest quarter
- +6.74%
- 1-year
- +16.26%
- 3-year
- +49.37%
- 5-year
- +54.99%
- 3-year vs S&P 500
- -23.69%
- 5-year vs S&P 500
- -18.91%
- 5-year top 5
- +46.12%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
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Sells
These are the positions the manager reduced or sold out of this quarter, showing where they pulled money back. The quarter shown is Q2 2026.
| Ticker | Security | Activity | % portfolio | Shares | Value | Reported price | Q range |
|---|---|---|---|---|---|---|---|
| EBAY | eBay, Inc. | Sold | — | 0 | $0 | — | - |
| HAL | Halliburton Co. | Sold | — | 0 | $0 | — | - |
| HON | Honeywell International, Inc. | Sold | — | 0 | $0 | — | - |
| ISRG | Intuitive Surgical, Inc. | Sold | — | 0 | $0 | — | - |
| LBTYK | Liberty Global, Ltd. | Sold | — | 0 | $0 | — | - |
| LOMA | Loma Negra Cia Industrial Argentina SA | Sold | — | 0 | $0 | — | - |
| LYB | LyondellBasell Industries NV | Sold | — | 0 | $0 | — | - |
| PSMT | PriceSmart, Inc. | Sold | — | 0 | $0 | — | - |
| FDX | FedEx Corp. | Reduce -41.6%1.241:1 split | 1.19% | 7,233,269 | $2.26B | $313.13 | $284.85 - $413.87(22%)$289.53 -> $313.10 |
| GS | The Goldman Sachs Group, Inc. | Reduce -90.3% | 0.07% | 134,131 | $135.66M | $1011.37 | $831.00 - $1124.99(61%)$860.21 -> $1011.37 |
| NSC | Norfolk Southern Corp. | Reduce -59.9% | 0.41% | 2,508,128 | $789.03M | $314.59 | $284.77 - $326.00(72%)$287.00 -> $314.59 |
| BK | The Bank of New York Mellon Corp. | Reduce -29.0% | 1.26% | 16,608,370 | $2.4B | $144.61 | $118.58 - $148.50(87%)$120.97 -> $143.56 |
| NVS | Novartis AG | Reduce -89.1% | 0.06% | 759,373 | $119.01M | $156.72 | $142.25 - $157.88(93%)$155.08 -> $156.72 |
| STT | State Street Corp. | Reduce -99.0% | 0.00% | 33,325 | $5.65M | $169.60 | $125.64 - $175.46(88%)$128.25 -> $169.60 |
| SUI | Sun Communities, Inc. | Reduce -33.4% | 0.60% | 9,500,781 | $1.14B | $119.91 | $117.46 - $131.18(18%)$127.38 -> $119.91 |
| GSK | GSK PLC | Reduce -17.8% | 1.32% | 48,197,514 | $2.53B | $52.42 | $48.57 - $59.57(35%)$55.99 -> $52.42 |
| BAP | Credicorp, Ltd. | Reduce -23.3% | 0.53% | 2,614,315 | $1.02B | $389.58 | $299.00 - $398.51(91%)$341.26 -> $389.37 |
| BMY | Bristol-Myers Squibb Co. | Reduce -99.1% | 0.00% | 42,361 | $2.44M | $57.62 | $53.74 - $62.23(46%)$61.73 -> $57.60 |
| TRP | TC Energy Corp. | Reduce -43.4% | 0.17% | 5,034,800 | $333.76M | $66.29 | $59.29 - $71.47(57%)$62.22 -> $66.29 |
| JCI | Johnson Controls International PLC | Reduce -3.0% | 4.27% | 55,776,006 | $8.15B | $146.11 | $130.78 - $149.38(82%)$134.72 -> $146.11 |
| MET | MetLife, Inc. | Reduce -5.3% | 2.15% | 48,431,150 | $4.1B | $84.61 | $69.50 - $89.62(75%)$71.17 -> $84.61 |
| CVS | CVS Health Corp. | Reduce -3.4% | 2.71% | 50,012,765 | $5.17B | $103.45 | $71.82 - $106.15(92%)$72.49 -> $103.44 |
| VFC | VF Corp. | Reduce -32.1% | 0.20% | 22,406,175 | $373.73M | $16.68 | $15.56 - $22.27(17%)$16.92 -> $16.68 |
| HUM | Humana, Inc. | Reduce -3.9% | 2.28% | 10,940,380 | $4.35B | $397.22 | $172.04 - $398.80(99%)$176.95 -> $397.01 |
| UNH | UnitedHealth Group, Inc. | Reduce -4.2% | 1.97% | 9,072,258 | $3.77B | $415.63 | $270.76 - $427.81(92%)$273.98 -> $415.63 |
| ADM | Archer-Daniels-Midland Co. | Reduce -10.0% | 0.57% | 14,182,325 | $1.08B | $76.40 | $66.06 - $85.37(54%)$72.37 -> $76.29 |
| GOOG | Alphabet, Inc. | Reduce -2.2% | 2.21% | 11,961,097 | $4.23B | $353.33 | $287.57 - $404.47(56%)$294.90 -> $353.33 |
| D | Dominion Energy, Inc. | Reduce -6.0% | 0.65% | 18,303,470 | $1.25B | $68.29 | $60.44 - $70.16(81%)$62.05 -> $68.28 |
| GILD | Gilead Sciences, Inc. | Reduce -2.4% | 1.57% | 23,677,567 | $2.99B | $126.34 | $121.39 - $142.97(23%)$140.30 -> $126.34 |
| RTX | RTX Corp. | Reduce -1.0% | 3.49% | 35,113,249 | $6.66B | $189.73 | $170.78 - $205.36(55%)$194.72 -> $189.73 |
| OXY | Occidental Petroleum Corp. | Reduce -1.8% | 1.85% | 72,764,944 | $3.53B | $48.57 | $48.55 - $66.02(0%)$62.23 -> $48.57 |
| CX | Cemex SAB de CV | Reduce -5.9% | 0.50% | 80,187,637 | $962.25M | $12.00 | $11.02 - $13.67(37%)$11.59 -> $12.01 |
| SNY | Sanofi SA | Reduce -4.8% | 0.63% | 28,088,274 | $1.2B | $42.66 | $40.89 - $48.60(23%)$47.73 -> $42.66 |
| BKR | Baker Hughes Co. | Reduce -2.8% | 1.01% | 34,854,482 | $1.93B | $55.50 | $55.39 - $70.41(1%)$60.34 -> $55.50 |
| MCHP | Microchip Technology, Inc. | Reduce -9.7% | 0.26% | 5,533,359 | $504.64M | $91.20 | $62.62 - $105.91(66%)$65.38 -> $91.20 |
| GE | GE Aerospace | Reduce -19.0% | 0.12% | 598,052 | $223.51M | $373.73 | $268.91 - $379.67(95%)$292.68 -> $373.47 |
| AEG | Aegon, Ltd. | Reduce -11.7% | 0.20% | 44,635,184 | $376.72M | $8.44 | $7.19 - $8.81(77%)$7.37 -> $8.45 |
| SU | Suncor Energy, Inc. | Reduce -3.4% | 0.71% | 25,366,554 | $1.36B | $53.68 | $53.35 - $70.29(2%)$64.94 -> $53.68 |
| COP | ConocoPhillips | Reduce -3.9% | 0.50% | 9,266,284 | $963.32M | $103.96 | $103.66 - $134.41(1%)$128.38 -> $103.94 |
| ELAN | Elanco Animal Health, Inc. | Reduce -2.2% | 0.87% | 67,397,025 | $1.66B | $24.61 | $19.40 - $26.29(76%)$23.12 -> $24.63 |
| INCY | Incyte Corp. | Reduce -2.4% | 0.71% | 11,957,326 | $1.36B | $113.36 | $92.18 - $115.56(91%)$94.30 -> $113.36 |
| BUD | Anheuser-Busch InBev SA/NV | Reduce -0.7% | 1.27% | 29,477,348 | $2.43B | $82.40 | $69.50 - $85.56(80%)$70.77 -> $82.39 |
| AEP | American Electric Power Co., Inc. | Reduce -0.8% | 0.62% | 8,674,355 | $1.19B | $136.81 | $123.87 - $139.44(83%)$131.67 -> $136.98 |
| ITUB | Itau Unibanco Holding SA | Reduce -5.1% | 0.08% | 18,185,181 | $148.57M | $8.17 | $7.42 - $9.57(35%)$8.49 -> $8.17 |
| GEV | GE Vernova, Inc. | Reduce -4.9% | 0.08% | 122,871 | $144.36M | $1174.86 | $856.05 - $1181.95(98%)$894.78 -> $1174.27 |
| COHR | Coherent Corp. | Reduce -2.6% | 0.11% | 544,160 | $214.65M | $394.47 | $231.79 - $439.77(78%)$247.80 -> $394.43 |
| BAC | Bank of America Corp. | Reduce -4.3% | 0.05% | 1,741,970 | $99.26M | $56.98 | $48.16 - $59.20(80%)$49.27 -> $56.98 |
| FI | Fiserv, Inc. | Reduce -0.1% | 1.29% | 50,194,946 | $2.46B | — | - |
| CE | Celanese Corp. | Reduce -0.4% | 0.37% | 15,282,234 | $702.98M | $46.00 | $45.26 - $70.70(3%)$63.55 -> $45.96 |
| XP | XP, Inc. | Reduce -0.5% | 0.28% | 32,564,312 | $529.5M | $16.26 | $14.80 - $21.79(21%)$18.71 -> $16.26 |
| AXP | American Express Co. | Reduce -2.2% | 0.05% | 271,279 | $91.76M | $338.25 | $292.58 - $352.46(76%)$301.45 -> $338.31 |
| CSCO | Cisco Systems, Inc. | Reduce -15.9% | 0.01% | 88,409 | $10.38M | $117.46 | $76.54 - $130.37(76%)$77.93 -> $117.46 |
| WMB | The Williams Co., Inc. | Reduce -2.3% | 0.04% | 944,450 | $70.21M | $74.34 | $69.33 - $80.08(47%)$71.83 -> $74.34 |
| VSNT | Versant Media Group, Inc. | Reduce -0.9% | 0.08% | 4,472,367 | $161.05M | $36.01 | $35.36 - $45.58(6%)$37.18 -> $36.01 |
| DD | DuPont de Nemours, Inc. | Reduce -67.9% | 0.00% | 4,705 | $638.14K | $135.63 | $44.50 - $144.84(91%)$46.21 -> $135.70 |
| CDNS | Cadence Design Systems, Inc. | Reduce -1.3% | 0.04% | 228,012 | $85.58M | $375.32 | $263.38 - $416.69(73%)$280.19 -> $375.32 |
| LLY | Eli Lilly & Co. | Reduce -1.8% | 0.03% | 41,258 | $49.49M | $1199.43 | $850.51 - $1238.00(90%)$954.52 -> $1199.43 |
| TRV | The Travelers Co., Inc. | Reduce -2.9% | 0.02% | 90,119 | $29.75M | $330.12 | $287.30 - $334.13(91%)$290.53 -> $330.12 |
| DELL | Dell Technologies, Inc. | Reduce -8.7% | 0.00% | 17,250 | $7.44M | $431.46 | $164.76 - $469.47(88%)$169.38 -> $431.39 |
| UBS | UBS Group AG | Reduce -0.0% | 0.87% | 33,630,342 | $1.67B | $49.54 | $38.67 - $51.24(86%)$39.74 -> $49.56 |
| CAT | Caterpillar, Inc. | Reduce -1.5% | 0.02% | 39,404 | $41.96M | $1064.90 | $704.27 - $1073.46(98%)$730.32 -> $1064.45 |
| HPE | Hewlett Packard Enterprise Co. | Reduce -17.3% | 0.00% | 63,450 | $2.86M | $45.11 | $23.54 - $64.25(53%)$23.98 -> $45.10 |
| DIS | The Walt Disney Co. | Reduce -2.2% | 0.01% | 261,007 | $25.12M | $96.25 | $95.09 - $110.48(8%)$96.56 -> $96.22 |
| SLB | SLB, Ltd. | Reduce -10.4% | 0.00% | 98,424 | $4.58M | $46.49 | $45.87 - $58.81(5%)$50.03 -> $46.49 |
| ACMR | ACM Research, Inc. | Reduce -2.9% | 0.01% | 116,392 | $14.77M | $126.89 | $37.91 - $127.19(100%)$40.46 -> $126.72 |
| JPM | JPMorgan Chase & Co. | Reduce -1.1% | 0.02% | 117,130 | $38.34M | $327.33 | $288.72 - $343.45(71%)$295.38 -> $327.33 |
| CVX | Chevron Corp. | Reduce -1.3% | 0.02% | 202,503 | $33.57M | $165.76 | $165.20 - $205.48(1%)$197.41 -> $165.78 |
| GLW | Corning, Inc. | Reduce -4.6% | 0.00% | 34,665 | $8.85M | $255.43 | $136.35 - $271.78(88%)$142.38 -> $255.43 |
| ADI | Analog Devices, Inc. | Reduce -4.0% | 0.00% | 19,210 | $7.63M | $397.17 | $309.79 - $444.75(65%)$320.58 -> $397.87 |
| AZN | AstraZeneca PLC | Reduce -2.6% | 0.01% | 55,949 | $10.61M | $189.62 | $174.28 - $207.30(46%)$200.73 -> $189.59 |
| WMT | Walmart, Inc. | Reduce -1.1% | 0.01% | 172,435 | $19.53M | $113.26 | $112.73 - $135.16(2%)$124.74 -> $113.26 |
| AMGN | Amgen, Inc. | Reduce -4.1% | 0.00% | 12,817 | $4.64M | $362.12 | $320.52 - $363.11(98%)$353.28 -> $362.38 |
| FIS | Fidelity National Information Services, Inc. | Reduce -0.0% | 1.00% | 49,069,080 | $1.91B | $38.88 | $37.42 - $49.28(12%)$45.17 -> $38.87 |
| BIDU | Baidu, Inc. | Reduce -5.5% | 0.00% | 26,006 | $2.97M | $114.29 | $100.32 - $152.37(27%)$111.90 -> $114.29 |
| IBM | International Business Machines Corp. | Reduce -1.3% | 0.01% | 45,995 | $12.93M | $281.21 | $212.34 - $332.46(57%)$243.14 -> $281.21 |
| MSI | Motorola Solutions, Inc. | Reduce -3.5% | 0.00% | 10,866 | $4.51M | $415.29 | $381.25 - $450.00(50%)$434.13 -> $415.29 |
| ABEV | Ambev SA | Reduce -17.5% | 0.00% | 252,700 | $793.48K | $3.14 | $2.84 - $3.45(49%)$2.97 -> $3.13 |
| TGT | Target Corp. | Reduce -1.1% | 0.01% | 95,639 | $12.49M | $130.61 | $116.83 - $142.82(53%)$120.45 -> $130.61 |
| NESR | National Energy Services Reunited Corp. | Reduce -0.3% | 0.03% | 1,595,994 | $47.77M | $29.93 | $20.57 - $30.29(96%)$22.04 -> $29.93 |
| SPGI | S&P Global, Inc. | Reduce -3.7% | 0.00% | 5,200 | $2.12M | $407.26 | $393.03 - $456.70(22%)$425.17 -> $407.26 |
| AAPL | Apple, Inc. | Reduce -0.7% | 0.00% | 31,382 | $9.08M | $289.36 | $245.70 - $316.94(61%)$255.63 -> $289.05 |
| YY | JOYY, Inc. | Reduce -2.4% | 0.00% | 41,006 | $2.71M | — | - |
| BSX | Boston Scientific Corp. | Reduce -1.6% | 0.00% | 87,485 | $3.73M | $42.68 | $42.25 - $66.88(2%)$62.00 -> $42.68 |
| APA | APA Corp. | Reduce -9.3% | 0.00% | 19,500 | $635.12K | $32.57 | $32.48 - $44.28(1%)$41.35 -> $32.55 |
| OTIS | Otis Worldwide Corp. | Reduce -13.3% | 0.00% | 5,210 | $373.04K | $71.60 | $69.16 - $82.64(18%)$77.45 -> $71.60 |
| SHEL | Shell PLC | Reduce -1.3% | 0.00% | 54,269 | $4.21M | $77.54 | $76.39 - $94.66(6%)$92.03 -> $77.54 |
| NEE | NextEra Energy, Inc. | Reduce -2.5% | 0.00% | 23,000 | $2.02M | $87.77 | $83.38 - $98.75(29%)$92.85 -> $87.77 |
| Q | Qnity Electronics, Inc. | Reduce -5.3% | 0.00% | 6,369 | $1.04M | $163.31 | $112.57 - $177.28(78%)$118.56 -> $163.31 |
| SNPS | Synopsys, Inc. | Reduce -1.0% | 0.00% | 10,100 | $4.51M | $446.07 | $386.59 - $539.48(39%)$396.74 -> $446.07 |
| MRK | Merck & Co., Inc. | Reduce -0.2% | 0.01% | 135,750 | $17.44M | $128.50 | $107.90 - $130.29(92%)$120.84 -> $128.50 |
| MGM | MGM Resorts International | Reduce -7.7% | 0.00% | 6,000 | $286.86K | $47.81 | $35.32 - $51.56(77%)$36.78 -> $47.81 |
| GPC | Genuine Parts Co. | Reduce -4.3% | 0.00% | 4,450 | $525.01K | $117.98 | $90.78 - $118.33(99%)$105.18 -> $117.98 |
| PBR | Petroleo Brasileiro SA - Petrobras | Reduce -3.9% | 0.00% | 30,000 | $484.8K | $16.16 | $16.11 - $22.24(1%)$20.08 -> $16.16 |
| HD | The Home Depot, Inc. | Reduce -0.3% | 0.00% | 22,382 | $7.89M | $352.68 | $289.10 - $353.55(99%)$329.56 -> $352.68 |
| PFE | Pfizer, Inc. | Reduce -0.8% | 0.00% | 87,814 | $2.11M | $24.08 | $23.62 - $28.75(9%)$28.55 -> $24.08 |
| MMM | 3M Co. | Reduce -1.5% | 0.00% | 7,558 | $1.22M | $161.91 | $141.39 - $169.76(72%)$145.25 -> $161.91 |
| UNP | Union Pacific Corp. | Reduce -0.0% | 0.04% | 260,902 | $70.97M | $272.00 | $240.00 - $279.70(81%)$243.12 -> $272.00 |
| DOW | Dow, Inc. | Reduce -6.2% | 0.00% | 9,114 | $249.36K | $27.36 | $27.14 - $42.37(1%)$40.69 -> $27.36 |
| CTVA | Corteva, Inc. | Reduce -0.7% | 0.00% | 20,203 | $1.71M | $84.69 | $74.43 - $85.63(92%)$83.81 -> $84.66 |
| PNC | The PNC Financial Services Group, Inc. | Reduce -0.3% | 0.00% | 13,960 | $3.44M | $246.22 | $205.23 - $249.01(94%)$209.24 -> $246.22 |
| PG | The Procter & Gamble Co. | Reduce -0.1% | 0.01% | 90,706 | $13.3M | $146.64 | $138.86 - $153.35(54%)$144.09 -> $146.64 |