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Dodge & Cox

The positions Dodge & Cox reported on its Form 13F for Q2 2026, the quarter ending 30 Jun 2026, filed on 13 Aug 2026. Every figure below is the filing’s own: US-listed long equity, valued at the quarter end, with the change measured against the same manager’s previous filing.

Reported book
$191bn
+$9.0bn on Q1 2026
Positions
222
7 new, 9 sold out
Top ten weight
28%
Spread across the book
Quarter
Q2 2026
Filed 13 Aug 2026
Read the Q2 2026 filing on sec.gov CIK 0000200217 · Value / activist · CA
Reported book by quarter
$0$95.5bn$191bnQ3 24: $177bn$177bnQ3 24Q4 24: $172bn$172bnQ4 24Q1 25: $175bn$175bnQ1 25Q2 25: $178bn$178bnQ2 25Q3 25: $185bn$185bnQ3 25Q4 25: $185bn$185bnQ4 25Q1 26: $182bn$182bnQ1 26Q2 26: $191bn$191bnQ2 26
Largest positions, share of the book
Johnson Controls International PLC (JCI): 4.3%Johnson Controls Intern…4.3%The Charles Schwab Corp.: 3.7%The Charles Schwab Corp.3.7%RTX Corp. (RTX): 3.5%RTX Corp. (RTX)3.5%CVS Health Corp. (CVS): 2.7%CVS Health Corp. (CVS)2.7%Microsoft Corp. (MSFT): 2.5%Microsoft Corp. (MSFT)2.5%Booking Holdings, Inc. (BKNG): 2.4%Booking Holdings, Inc. …2.4%Humana, Inc. (HUM): 2.3%Humana, Inc. (HUM)2.3%Alphabet, Inc.: 2.2%Alphabet, Inc.2.2%MetLife, Inc.: 2.1%MetLife, Inc.2.1%Sunbelt Rentals Holdings, Inc. (SUNB): 2.1%Sunbelt Rentals Holding…2.1%

Opened this quarter

A new position is the clearest thing a filing says. Somebody argued for it recently, and it is the easiest question to be ready for.

  • Fedex Freight Holding Co., Inc. (FDXF)$1.1bn · 0.6%
  • KKR & Co., Inc.$740m · 0.4%
  • Liberty Global, Ltd.$27m · 0.0%
  • Sea, Ltd.$2.2m · 0.0%
  • Honeywell International, Inc. (HON)$900k · 0.0%
  • Honeywell Aerospace, Inc. (HONA)$900k · 0.0%
  • DuPont de Nemours, Inc. (DD)$600k · 0.0%

Sold out of this quarter

Exits are valued at what the position was worth in the previous filing, because by this one it is gone.

  • LyondellBasell Industries NV$1.4bn held before
  • Liberty Global, Ltd.$62m held before
  • Honeywell International, Inc. (HON)$1.8m held before
  • eBay, Inc. (EBAY)$1.1m held before
  • PriceSmart, Inc. (PSMT)$900k held before
  • Loma Negra Cia Industrial Argentina SA$800k held before
  • DuPont de Nemours, Inc. (DD)$700k held before
  • Intuitive Surgical, Inc. (ISRG)$200k held before
  • Halliburton Co. (HAL)$200k held before

Every reported position, Q2 2026

200 positions, sorted by weight · page 2 of 2

PositionWeight ↓ValueSharesChange on the quarterAction
Versant Media Group, Inc. (VSNT)
COM CL A · CUSIP 925283103
0.1%$161m4,472,367
-$5.9m
-38,589 shares
Trimmed
Itau Unibanco Holding SA
SPON ADR REP PFD · CUSIP 465562106
0.1%$149m18,185,181
-$12m
-984,200 shares
Trimmed
GE Vernova, Inc. (GEV)
COM · CUSIP 36828A101
0.1%$144m122,871
+$32m
-6,311 shares
Trimmed
The Goldman Sachs Group, Inc.
COM · CUSIP 38141G104
0.1%$136m134,131
-$1.0bn
-1,246,324 shares
Trimmed
Novartis AG
SPONSORED ADR · CUSIP 66987V109
0.1%$119m759,373
-$945m
-6,208,010 shares
Trimmed
Bank of America Corp.
COM · CUSIP 060505104
0.1%$99m1,741,970
+$11m
-77,595 shares
Trimmed
American Express Co. (AXP)
COM · CUSIP 025816109
0.0%$92m271,279
+$7.8m
-6,211 shares
Trimmed
Fresenius Medical Care AG
SPONSORED ADR · CUSIP 358029106
0.0%$87m3,826,910
+$200k
0 shares
Held
Cadence Design Systems, Inc. (CDNS)
COM · CUSIP 127387108
0.0%$86m228,012
+$21m
-2,887 shares
Trimmed
Union Pacific Corp. (UNP)
COM · CUSIP 907818108
0.0%$71m260,902
+$7.7m
-50 shares
Trimmed
The Williams Co., Inc.
COM · CUSIP 969457100
0.0%$70m944,450
-$100k
-21,897 shares
Trimmed
Flutter Entertainment PLC (FLUT)
SHS · CUSIP G3643J108
0.0%$64m628,878
+$100k
0 shares
Held
Eli Lilly & Co. (LLY)
COM · CUSIP 532457108
0.0%$50m41,258
+$11m
-754 shares
Trimmed
Danaher Corp.
COM · CUSIP 235851102
0.0%$49m257,039
+$46m
+240,589 shares
Added
National Energy Services Reunited Corp. (NESR)
SHS · CUSIP G6375R107
0.0%$48m1,595,994
+$13m
-4,000 shares
Trimmed
Caterpillar, Inc. (CAT)
COM · CUSIP 149123101
0.0%$42m39,404
+$14m
-590 shares
Trimmed
JPMorgan Chase & Co.
COM · CUSIP 46625H100
0.0%$38m117,130
+$3.5m
-1,325 shares
Trimmed
Chevron Corp. (CVX)
COM · CUSIP 166764100
0.0%$34m202,503
-$8.9m
-2,606 shares
Trimmed
The Travelers Co., Inc.
COM · CUSIP 89417E109
0.0%$30m90,119
+$2.7m
-2,657 shares
Trimmed
Liberty Global, Ltd.
COM CL C · CUSIP G61188101
0.0%$27m2,444,614No earlier filingNew
The Walt Disney Co. (DIS)
COM · CUSIP 254687106
0.0%$25m261,007
-$600k
-5,859 shares
Trimmed
Kaspi.KZ JSC
SPONSORED ADS · CUSIP 48581R205
0.0%$22m252,826
+$6.3m
+42,600 shares
Added
Walmart, Inc. (WMT)
COM · CUSIP 931142103
0.0%$20m172,435
-$2.1m
-1,875 shares
Trimmed
Merck & Co., Inc. (MRK)
COM · CUSIP 58933Y105
0.0%$17m135,750
+$1.1m
-300 shares
Trimmed
ACM Research, Inc. (ACMR)
COM CL A · CUSIP 00108J109
0.0%$15m116,392
+$10m
-3,500 shares
Trimmed
The Procter & Gamble Co. (PG)
COM · CUSIP 742718109
0.0%$13m90,706
+$200k
-50 shares
Trimmed
International Business Machines Corp. (IBM)
COM · CUSIP 459200101
0.0%$13m45,995
+$1.6m
-592 shares
Trimmed
Target Corp.
COM · CUSIP 87612E106
0.0%$13m95,639
+$800k
-1,025 shares
Trimmed
AstraZeneca PLC (AZN)
ORD · CUSIP G0593M107
0.0%$11m55,949
-$700k
-1,525 shares
Trimmed
Cisco Systems, Inc. (CSCO)
COM · CUSIP 17275R102
0.0%$10m88,409
+$2.2m
-16,710 shares
Trimmed
Exxon Mobil Corp.
COM · CUSIP 30231G102
0.0%$10m73,858
-$2.4m
0 shares
Held
Apple, Inc. (AAPL)
COM · CUSIP 037833100
0.0%$9.1m31,382
+$1.1m
-225 shares
Trimmed
Corning, Inc.
COM · CUSIP 219350105
0.0%$8.9m34,665
+$3.9m
-1,660 shares
Trimmed
Deere & Co. (DE)
COM · CUSIP 244199105
0.0%$8.0m12,626
+$900k
0 shares
Held
The Home Depot, Inc. (HD)
COM · CUSIP 437076102
0.0%$7.9m22,382
+$500k
-65 shares
Trimmed
Analog Devices, Inc. (ADI)
COM · CUSIP 032654105
0.0%$7.6m19,210
+$1.3m
-811 shares
Trimmed
Dell Technologies, Inc. (DELL)
CL C · CUSIP 24703L202
0.0%$7.4m17,250
+$4.3m
-1,650 shares
Trimmed
Broadcom, Inc. (AVGO)
COM · CUSIP 11135F101
0.0%$7.3m19,290
+$1.3m
0 shares
Held
Vulcan Materials Co. (VMC)
COM · CUSIP 929160109
0.0%$7.1m24,000
+$500k
0 shares
Held
Berkshire Hathaway, Inc.
CL B NEW · CUSIP 084670702
0.0%$5.7m11,440
+$200k
0 shares
Held
State Street Corp.
COM · CUSIP 857477103
0.0%$5.7m33,325
-$437m
-3,466,554 shares
Trimmed
Johnson & Johnson (JNJ)
COM · CUSIP 478160104
0.0%$5.3m20,947
+$200k
0 shares
Held
Amgen, Inc. (AMGN)
COM · CUSIP 031162100
0.0%$4.6m12,817
-$100k
-550 shares
Trimmed
SLB, Ltd. (SLB)
COM STK · CUSIP 806857108
0.0%$4.6m98,424
-$1.1m
-11,400 shares
Trimmed
Motorola Solutions, Inc. (MSI)
COM NEW · CUSIP 620076307
0.0%$4.5m10,866
-$400k
-389 shares
Trimmed
Synopsys, Inc. (SNPS)
COM · CUSIP 871607107
0.0%$4.5m10,100
+$500k
-100 shares
Trimmed
Shell PLC
SPON ADS · CUSIP 780259305
0.0%$4.2m54,269
-$900k
-725 shares
Trimmed
BBB Foods, Inc. (TBBB)
CL A COM · CUSIP G0896C103
0.0%$3.8m90,700
+$600k
0 shares
Held
Boston Scientific Corp. (BSX)
COM · CUSIP 101137107
0.0%$3.7m87,485
-$1.8m
-1,400 shares
Trimmed
Karooooo, Ltd. (KARO)
ORD SHS · CUSIP Y4600W108
0.0%$3.4m69,733
+$1.3m
+27,500 shares
Added
The PNC Financial Services Group, Inc. (PNC)
COM · CUSIP 693475105
0.0%$3.4m13,960
+$500k
-40 shares
Trimmed
MercadoLibre, Inc. (MELI)
COM · CUSIP 58733R102
0.0%$3.4m1,987
-$100k
0 shares
Held
Berkshire Hathaway, Inc.
CL A · CUSIP 084670108
0.0%$3.0m4
+$100k
0 shares
Held
Philip Morris International, Inc. (PM)
COM · CUSIP 718172109
0.0%$3.0m16,500
+$300k
0 shares
Held
Baidu, Inc.
SPON ADR REP A · CUSIP 056752108
0.0%$3.0m26,006
-$100k
-1,500 shares
Trimmed
Hewlett Packard Enterprise Co.
COM · CUSIP 42824C109
0.0%$2.9m63,450
+$1.0m
-13,304 shares
Trimmed
JOYY, Inc. (JOYY)
ADS REPSTG COM A · CUSIP 46591M109
0.0%$2.7m41,006
+$300k
-1,000 shares
Trimmed
AbbVie, Inc. (ABBV)
COM · CUSIP 00287Y109
0.0%$2.6m10,393
+$400k
0 shares
Held
Vipshop Holdings, Ltd. (VIPS)
SPONSORED ADS A · CUSIP 92763W103
0.0%$2.5m190,797
-$500k
0 shares
Held
Parker-Hannifin Corp. (PH)
COM · CUSIP 701094104
0.0%$2.4m2,500
+$200k
0 shares
Held
Bristol-Myers Squibb Co.
COM · CUSIP 110122108
0.0%$2.4m42,361
-$278m
-4,580,459 shares
Trimmed
Sea, Ltd.
SPONSORD ADS · CUSIP 81141R100
0.0%$2.2m22,950No earlier filingNew
S&P Global, Inc. (SPGI)
COM · CUSIP 78409V104
0.0%$2.1m5,200
-$200k
-200 shares
Trimmed
Pfizer, Inc. (PFE)
COM · CUSIP 717081103
0.0%$2.1m87,814
-$400k
-750 shares
Trimmed
NextEra Energy, Inc.
COM · CUSIP 65339F101
0.0%$2.0m23,000
-$200k
-600 shares
Trimmed
Trip.com Group, Ltd.
ADS · CUSIP 89677Q107
0.0%$2.0m49,250
-$500k
0 shares
Held
The Coca-Cola Co. (KO)
COM · CUSIP 191216100
0.0%$2.0m24,000
+$100k
0 shares
Held
McDonald's Corp.
COM · CUSIP 580135101
0.0%$1.7m6,425
-$300k
0 shares
Held
Corteva, Inc. (CTVA)
COM · CUSIP 22052L104
0.0%$1.7m20,203
unchanged
-133 shares
Trimmed
Abbott Laboratories (ABT)
COM · CUSIP 002824100
0.0%$1.6m17,324
-$200k
0 shares
Held
Zhihu, Inc.
SPONSORED ADS · CUSIP 98955N207
0.0%$1.6m501,092
+$200k
+20,000 shares
Added
Altria Group, Inc. (MO)
COM · CUSIP 02209S103
0.0%$1.5m20,500
+$100k
0 shares
Held
Atour Lifestyle Holdings, Ltd. (ATAT)
SPONSORED ADS · CUSIP 04965M106
0.0%$1.5m45,652
+$400k
+17,500 shares
Added
Nucor Corp. (NUE)
COM · CUSIP 670346105
0.0%$1.4m6,200
+$300k
0 shares
Held
Las Vegas Sands Corp. (LVS)
COM · CUSIP 517834107
0.0%$1.3m28,186
-$200k
0 shares
Held
Colgate-Palmolive Co. (CL)
COM · CUSIP 194162103
0.0%$1.3m14,000
+$100k
0 shares
Held
Patria Investments, Ltd. (PAX)
COM CL A · CUSIP G69451105
0.0%$1.3m115,700
+$600k
+63,100 shares
Added
3M Co. (MMM)
COM · CUSIP 88579Y101
0.0%$1.2m7,558
+$100k
-118 shares
Trimmed
Copa Holdings SA
CL A · CUSIP P31076105
0.0%$1.1m7,250
+$400k
+1,250 shares
Added
Qnity Electronics, Inc. (Q)
COMMON STOCK · CUSIP 74743L100
0.0%$1.0m6,369
+$300k
-358 shares
Trimmed
Intercorp Financial Services, Inc. (IFS)
SHS · CUSIP P5626F128
0.0%$1.0m17,391
+$100k
0 shares
Held
Laureate Education, Inc. (LAUR)
COMMON STOCK · CUSIP 518613203
0.0%$1.0m27,200
+$200k
+5,500 shares
Added
Truist Financial Corp.
COM · CUSIP 89832Q109
0.0%$1.0m19,151
+$100k
0 shares
Held
Arcos Dorados Holdings, Inc. (ARCO)
SHS CLASS -A - · CUSIP G0457F107
0.0%$900k112,966
unchanged
0 shares
Held
Honeywell International, Inc. (HON)
COM · CUSIP 438516205
0.0%$900k4,010No earlier filingNew
Diageo PLC
SPON ADR NEW · CUSIP 25243Q205
0.0%$900k11,077
+$100k
0 shares
Held
Honeywell Aerospace, Inc. (HONA)
COM · CUSIP 43849R105
0.0%$900k4,009No earlier filingNew
Geopark, Ltd. (GPRK)
USD SHS · CUSIP G38327105
0.0%$800k93,045
unchanged
0 shares
Held
Grupo Aeroportuario del Sureste SAB de CV
SPON ADR SER B · CUSIP 40051E202
0.0%$800k2,630
+$400k
+1,380 shares
Added
Dlocal, Ltd. (DLO)
CLASS A COM · CUSIP G29018101
0.0%$800k61,500
+$200k
+16,800 shares
Added
Jbs Nv
CL A SHS · CUSIP N4732M103
0.0%$800k67,250
unchanged
+22,500 shares
Added
Ambev SA
SPONSORED ADR · CUSIP 02319V103
0.0%$800k252,700
-$100k
-53,600 shares
Trimmed
Afya, Ltd. (AFYA)
CL A COM · CUSIP G01125106
0.0%$800k51,287
unchanged
0 shares
Held
Ameriprise Financial, Inc. (AMP)
COM · CUSIP 03076C106
0.0%$700k1,500
unchanged
0 shares
Held
Mondelez International, Inc. (MDLZ)
CL A · CUSIP 609207105
0.0%$700k11,840
unchanged
0 shares
Held
Blackrock, Inc. (BLK)
COM · CUSIP 09290D101
0.0%$700k711
unchanged
0 shares
Held
NVIDIA Corp. (NVDA)
COM · CUSIP 67066G104
0.0%$700k3,400
+$100k
0 shares
Held
DuPont de Nemours, Inc. (DD)
COMMON STOCK · CUSIP 26614N201
0.0%$600k4,705No earlier filingNew
APA Corp. (APA)
COM · CUSIP 03743Q108
0.0%$600k19,500
-$300k
-2,000 shares
Trimmed
The Allstate Corp.
COM · CUSIP 020002101
0.0%$600k2,595
+$100k
0 shares
Held

Every filing on file

QuarterPeriod endFiledBookPositionsTop 10Filing
Q2 202630 Jun 202613 Aug 2026$191bn22228%13F-HR
Q1 202631 Mar 202614 May 2026$182bn22227%13F-HR
Q4 202531 Dec 202513 Feb 2026$185bn22227%13F-HR
Q3 202530 Sept 202513 Nov 2025$185bn21928%13F-HR
Q2 202530 Jun 202513 Aug 2025$178bn21929%13F-HR
Q1 202531 Mar 202514 May 2025$175bn21429%13F-HR
Q4 202431 Dec 202413 Feb 2025$172bn21429%13F-HR
Q3 202430 Sept 202413 Nov 2024$177bn20528%13F-HR

Taking this into the room

Pick one name from the top of the book and one from the new positions, and know both properly: what the company earns, what it is priced at, and what has to be true for the position to work. That is a conversation. Reciting the whole table is not, and the interviewer wrote it.

A position sold out of is worth as much preparation as one opened. Ask what changed rather than asserting the fund was wrong, and be ready for the answer that the thesis played out and the money went somewhere better.

Compare this against every other manager →How a hedge fund interview runs →

What this filing leaves out

A 13F covers US-listed long equity at one moment in time. Shorts, bonds, cash, private positions and non-US listings never appear, and options are reported in a form that will mislead you if you read them as a position. A long/short manager showing $8bn here may run a book several times that size.

The lag matters too. Positions are as at the quarter end and the filing arrives up to forty-five days later, so what you are reading is at least six weeks old and possibly four months. Phrase it as what the filing showed, not what the fund holds today.

Company names, tickers and logos are the trademarks of their respective owners and appear here to identify the company whose public figures are being used. L3VLUP is not affiliated with, sponsored by or endorsed by any company shown, and nothing here is a statement by or about that company. More