DODGE & COX 13F: Quarter-over-Quarter Portfolio Changes
DODGE & COX reported a disclosed portfolio value of approximately $191.0 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 5.0% quarter on quarter. Over the quarter, the manager initiated 7 new positions, bought more shares in 71 holdings, trimmed 94 holdings, and exited 7 positions.
DODGE & COX's top buy was Visa Inc-Class a Shrs (V) . The manager bought 630554.9% more shares, lifting the position's portfolio weight by 1.0 percentage points. Its top sell was Lyondellbasell Industries NV (LYB) . The manager exited the position completely after it had accounted for 0.7% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| FEDEX FGHT HLDG CO INC | FDXF | 0.6% | Holders → |
| KKR & CO INC | KKR | 0.4% | Holders → |
| SEA LTD | SE | 0.0% | Holders → |
| HONEYWELL AEROSPACE INC | HONA | 0.0% | Holders → |
| FUTU HLDGS LTD | FUTU | 0.0% | Holders → |
| VANGUARD INDEX FDS | VOO | 0.0% | Holders → |
| AFFILIATED MANAGERS GROUP | AMG | 0.0% | Holders → |
Top BuysQ2 2026
Showing the top 10 buys among 71 existing positions where the manager bought more shares in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| VISA INC-CLASS A SHRS | V | +1.0% | +630554.9% | Holders → |
| THERMO FISHER SCIENTIFIC INC | TMO | +0.8% | +11767.4% | Holders → |
| BOOKING HLDGS INC | BKNG | +0.1% | +2460.1% | History → |
| DANAHER CORP DEL | DHR | +0.0% | +1462.5% | Holders → |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | +0.3% | +1236.5% | Holders → |
| PATRIA INVESTMENTS LIMITED | PAX | +0.0% | +120.0% | Holders → |
| ROPER TECHNOLOGIES INC | ROP | +0.6% | +111.2% | Holders → |
| GRUPO AEROPORTUARIO DEL SURESTE SAB DE CV | ASR | +0.0% | +110.4% | Holders → |
| KAROOOOO LTD | KARO | +0.0% | +65.1% | Holders → |
| ATOUR LIFESTYLE HLDGS LTD | ATAT | +0.0% | +62.2% | Holders → |
Top SellsQ2 2026
Showing the top 10 sells among 94 existing positions where the manager sold shares in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| BRISTOL-MYERS SQUIBB CO | BMY | -0.2% | 99.1% | Holders → |
| STATE STR CORP | STT | -0.2% | 99.0% | Holders → |
| GOLDMAN SACHS GROUP INC | GS | -0.6% | 90.3% | Holders → |
| NOVARTIS AG SPONSORED ADR | NVS | -0.5% | 89.1% | Holders → |
| DUPONT DE NEMOURS INC | DD | -0.0% | 67.9% | Holders → |
| NORFOLK SOUTHN CORP | NSC | -0.6% | 59.9% | Holders → |
| HONEYWELL INTL INC | HON | -0.0% | 50.0% | Holders → |
| TC ENERGY CORP. | TRP | -0.1% | 43.4% | Holders → |
| SUN COMMUNITIES, INC | SUI | -0.4% | 33.4% | Holders → |
| V F CORP | VFC | -0.1% | 32.2% | Holders → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| LYONDELLBASELL INDUSTRIES NV | LYB | 0.7% |
| LIBERTY GLOBAL LTD | LBTYK | 0.0% |
| EBAY INC. | EBAY | 0.0% |
| PRICESMART INC | PSMT | 0.0% |
| LOMA NEGRA C I A S A MTN 14 | LOMA | 0.0% |
| INTUITIVE SURGICAL INC | ISRG | 0.0% |
| HALLIBURTON CO | HAL | 0.0% |
Net Portfolio Value ChangeQ2 2026
- $182.0BPrior quarter
- $191.0BCurrent quarter
- +$9.0BNet delta
- +5.0%% change
Methodology & FAQ
How DODGE & COX Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for DODGE & COX: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did DODGE & COX buy in Q2 2026?
In Q2 2026, DODGE & COX initiated 7 new positions (FEDEX FGHT HLDG CO INC (FDXF), KKR & CO INC (KKR), SEA LTD (SE), HONEYWELL AEROSPACE INC (HONA), FUTU HLDGS LTD (FUTU), VANGUARD INDEX FDS (VOO), AFFILIATED MANAGERS GROUP (AMG)); bought more shares of VISA INC-CLASS A SHRS (V), THERMO FISHER SCIENTIFIC INC (TMO), BOOKING HLDGS INC (BKNG), DANAHER CORP DEL (DHR), TAIWAN SEMICONDUCTOR MANUFAC (TSM) (the largest 5 of 71 adds).
What stocks did DODGE & COX sell in Q2 2026?
In Q2 2026, DODGE & COX fully sold 7 positions (LYONDELLBASELL INDUSTRIES NV (LYB), LIBERTY GLOBAL LTD (LBTYK), EBAY INC. (EBAY), PRICESMART INC (PSMT), LOMA NEGRA C I A S A MTN 14 (LOMA), INTUITIVE SURGICAL INC (ISRG), HALLIBURTON CO (HAL)); reduced holdings in BRISTOL-MYERS SQUIBB CO (BMY), STATE STR CORP (STT), GOLDMAN SACHS GROUP INC (GS), NOVARTIS AG SPONSORED ADR (NVS), DUPONT DE NEMOURS INC (DD) (the largest 5 of 94 reductions).
Which positions did DODGE & COX initiate in Q2 2026?
DODGE & COX established 7 new positions in Q2 2026: FEDEX FGHT HLDG CO INC (FDXF, 0.6%), KKR & CO INC (KKR, 0.4%), SEA LTD (SE, 0.0%), HONEYWELL AEROSPACE INC (HONA, 0.0%), FUTU HLDGS LTD (FUTU, 0.0%), VANGUARD INDEX FDS (VOO, 0.0%), AFFILIATED MANAGERS GROUP (AMG, 0.0%).
Which existing positions saw the largest allocation increases for DODGE & COX in Q2 2026?
Of 71 existing positions with share-count increases in Q2 2026, the largest were: VISA INC-CLASS A SHRS (V, +1.0% weight, +630554.9% shares), THERMO FISHER SCIENTIFIC INC (TMO, +0.8% weight, +11767.4% shares), BOOKING HLDGS INC (BKNG, +0.1% weight, +2460.1% shares), DANAHER CORP DEL (DHR, +0.0% weight, +1462.5% shares), TAIWAN SEMICONDUCTOR MANUFAC (TSM, +0.3% weight, +1236.5% shares), PATRIA INVESTMENTS LIMITED (PAX, +0.0% weight, +120.0% shares), ROPER TECHNOLOGIES INC (ROP, +0.6% weight, +111.2% shares), GRUPO AEROPORTUARIO DEL SURESTE SAB DE CV (ASR, +0.0% weight, +110.4% shares), KAROOOOO LTD (KARO, +0.0% weight, +65.1% shares), ATOUR LIFESTYLE HLDGS LTD (ATAT, +0.0% weight, +62.2% shares).
Which positions did DODGE & COX fully exit in Q2 2026?
DODGE & COX fully exited 7 positions in Q2 2026: LYONDELLBASELL INDUSTRIES NV (LYB, last-reported weight 0.7%), LIBERTY GLOBAL LTD (LBTYK, last-reported weight 0.0%), EBAY INC. (EBAY, last-reported weight 0.0%), PRICESMART INC (PSMT, last-reported weight 0.0%), LOMA NEGRA C I A S A MTN 14 (LOMA, last-reported weight 0.0%), INTUITIVE SURGICAL INC (ISRG, last-reported weight 0.0%), HALLIBURTON CO (HAL, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for DODGE & COX in Q2 2026?
Of 94 existing positions with share-count reductions in Q2 2026, the largest were: BRISTOL-MYERS SQUIBB CO (BMY, -0.2% weight, -99.1% shares), STATE STR CORP (STT, -0.2% weight, -99.0% shares), GOLDMAN SACHS GROUP INC (GS, -0.6% weight, -90.3% shares), NOVARTIS AG SPONSORED ADR (NVS, -0.5% weight, -89.1% shares), DUPONT DE NEMOURS INC (DD, -0.0% weight, -67.9% shares), NORFOLK SOUTHN CORP (NSC, -0.6% weight, -59.9% shares), HONEYWELL INTL INC (HON, -0.0% weight, -50.0% shares), TC ENERGY CORP. (TRP, -0.1% weight, -43.4% shares), SUN COMMUNITIES, INC (SUI, -0.4% weight, -33.4% shares), V F CORP (VFC, -0.1% weight, -32.2% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.