DODGE & COX 13F: Quarter-over-Quarter Portfolio Changes
DODGE & COX reported a disclosed portfolio value of approximately $182.0 billion in its latest SEC Form 13F-HR filing for Q1 2026, down 1.8% quarter on quarter. Over the quarter, the manager initiated 6 new positions, bought more shares in 50 holdings, trimmed 110 holdings, and exited 6 positions.
DODGE & COX's top buy was a new stake in Sunbelt Rentals Holdings INC (SUNB) , equal to 1.9% of the disclosed portfolio. Its top sell was Ge Aerospace (GE) . The manager sold 85.8% of its previously reported shares, reducing the position's portfolio weight by 0.7 percentage points.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| SUNBELT RENTALS HOLDINGS INC | SUNB | 1.9% | Holders → |
| ROPER TECHNOLOGIES INC | ROP | 0.7% | Holders → |
| NOVO-NORDISK A S | NVO | 0.4% | Holders → |
| VERSANT MEDIA GROUP INC | VSNT | 0.1% | Holders → |
| BBB FOODS INC | TBBB | 0.0% | Holders → |
| HALLIBURTON CO | HAL | 0.0% | Holders → |
Top BuysQ1 2026
Showing the top 10 buys among 50 existing positions where the manager bought more shares in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| FIRST CITIZENS BANCSHARES, I | FCNCA | +0.4% | +1145.3% | Holders → |
| ARTHUR J. GALLAGHER | AJG | +0.8% | +735.2% | Holders → |
| JBS N.V. | JBS | +0.0% | +164.0% | Holders → |
| TRIP COM GROUP LTD | TCOM | +0.0% | +155.8% | Holders → |
| PATRIA INVESTMENTS LIMITED | PAX | +0.0% | +148.1% | Holders → |
| CARRIER GLOBAL CORPORATION | CARR | +0.4% | +98.4% | Holders → |
| KAROOOOO LTD | KARO | +0.0% | +72.9% | Holders → |
| BAIDU INC-SP ADR | BIDU | +0.0% | +66.4% | Holders → |
| LOMA NEGRA C-ADR | LOMA | +0.0% | +66.0% | Holders → |
| TRANSUNION | TRU | +0.2% | +64.5% | Holders → |
Top SellsQ1 2026
Showing the top 10 sells among 110 existing positions where the manager sold shares in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| GE AEROSPACE | GE | -0.7% | 85.8% | Holders → |
| OTIS WORLDWIDE CORP | OTIS | -0.0% | 62.5% | Holders → |
| LIVE NATION ENTERTAINMENT IN | LYV | -0.0% | 57.1% | Holders → |
| ASTRAZENECA PLC | AZN | 0.0% | 52.5% | Holders → |
| LIBERTY GLOBAL LTD | LBTYA | -0.0% | 52.2% | Holders → |
| SANOFI SA | SNY | -0.7% | 47.8% | Holders → |
| SLB | SLB | -0.0% | 37.9% | Holders → |
| FEDEX CORP | FDX | -0.5% | 35.9% | History → |
| CISCO SYS INC | CSCO | -0.0% | 35.6% | Holders → |
| NORFOLK SOUTHN CORP | NSC | -0.5% | 35.0% | Holders → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| AMRIZE LTD | AMRZ | 0.2% |
| IDEX CORP | IEX | 0.1% |
| ECHOSTAR CORP | SATS | 0.0% |
| GRUPO CIBEST SA | CIB | 0.0% |
| VANGUARD INDEX FDS | VOO | 0.0% |
| PAYPAL HLDGS INC | PYPL | 0.0% |
Net Portfolio Value ChangeQ1 2026
- $185.3BPrior quarter
- $182.0BCurrent quarter
- $-3.3BNet delta
- -1.8%% 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 Q1 2026?
In Q1 2026, DODGE & COX initiated 6 new positions (SUNBELT RENTALS HOLDINGS INC (SUNB), ROPER TECHNOLOGIES INC (ROP), NOVO-NORDISK A S (NVO), VERSANT MEDIA GROUP INC (VSNT), BBB FOODS INC (TBBB), HALLIBURTON CO (HAL)); bought more shares of FIRST CITIZENS BANCSHARES, I (FCNCA), ARTHUR J. GALLAGHER (AJG), JBS N.V. (JBS), TRIP COM GROUP LTD (TCOM), PATRIA INVESTMENTS LIMITED (PAX) — the largest 5 of 50 adds.
What stocks did DODGE & COX sell in Q1 2026?
In Q1 2026, DODGE & COX fully sold 6 positions (AMRIZE LTD (AMRZ), IDEX CORP (IEX), ECHOSTAR CORP (SATS), GRUPO CIBEST SA (CIB), VANGUARD INDEX FDS (VOO), PAYPAL HLDGS INC (PYPL)); reduced holdings in GE AEROSPACE (GE), OTIS WORLDWIDE CORP (OTIS), LIVE NATION ENTERTAINMENT IN (LYV), ASTRAZENECA PLC (AZN), LIBERTY GLOBAL LTD (LBTYA) — the largest 5 of 110 reductions.
Which positions did DODGE & COX initiate in Q1 2026?
DODGE & COX established 6 new positions in Q1 2026: SUNBELT RENTALS HOLDINGS INC (SUNB, 1.9%), ROPER TECHNOLOGIES INC (ROP, 0.7%), NOVO-NORDISK A S (NVO, 0.4%), VERSANT MEDIA GROUP INC (VSNT, 0.1%), BBB FOODS INC (TBBB, 0.0%), HALLIBURTON CO (HAL, 0.0%).
Which existing positions saw the largest allocation increases for DODGE & COX in Q1 2026?
Of 50 existing positions with share-count increases in Q1 2026, the largest were: FIRST CITIZENS BANCSHARES, I (FCNCA, +0.4% weight, +1145.3% shares), ARTHUR J. GALLAGHER (AJG, +0.8% weight, +735.2% shares), JBS N.V. (JBS, +0.0% weight, +164.0% shares), TRIP COM GROUP LTD (TCOM, +0.0% weight, +155.8% shares), PATRIA INVESTMENTS LIMITED (PAX, +0.0% weight, +148.1% shares), CARRIER GLOBAL CORPORATION (CARR, +0.4% weight, +98.4% shares), KAROOOOO LTD (KARO, +0.0% weight, +72.9% shares), BAIDU INC-SP ADR (BIDU, +0.0% weight, +66.4% shares), LOMA NEGRA C-ADR (LOMA, +0.0% weight, +66.0% shares), TRANSUNION (TRU, +0.2% weight, +64.5% shares).
Which positions did DODGE & COX fully exit in Q1 2026?
DODGE & COX fully exited 6 positions in Q1 2026: AMRIZE LTD (AMRZ, last-reported weight 0.2%), IDEX CORP (IEX, last-reported weight 0.1%), ECHOSTAR CORP (SATS, last-reported weight 0.0%), GRUPO CIBEST SA (CIB, last-reported weight 0.0%), VANGUARD INDEX FDS (VOO, last-reported weight 0.0%), PAYPAL HLDGS INC (PYPL, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for DODGE & COX in Q1 2026?
Of 110 existing positions with share-count reductions in Q1 2026, the largest were: GE AEROSPACE (GE, -0.7% weight, -85.8% shares), OTIS WORLDWIDE CORP (OTIS, -0.0% weight, -62.5% shares), LIVE NATION ENTERTAINMENT IN (LYV, -0.0% weight, -57.1% shares), ASTRAZENECA PLC (AZN, 0.0% weight, -52.5% shares), LIBERTY GLOBAL LTD (LBTYA, -0.0% weight, -52.2% shares), SANOFI SA (SNY, -0.7% weight, -47.8% shares), SLB (SLB, -0.0% weight, -37.9% shares), FEDEX CORP (FDX, -0.5% weight, -35.9% shares), CISCO SYS INC (CSCO, -0.0% weight, -35.6% shares), NORFOLK SOUTHN CORP (NSC, -0.5% weight, -35.0% 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.