Dodge & Cox Stock Fund said it opened a Thermo Fisher Scientific position in Q2 2026, citing a decade-low share valuation amid customers’ post-COVID inventory destocking. It pointed to recurring revenue and successful acquisitions in its long-term outlook.
Class I shares of the fund returned 5.57% in Q2 2026 and 3.78% year to date, while trailing the S&P 500 and Russell 1000 Value Index. The letter said an underweight in information technology was the main drag; stock selection in consumer staples and health care helped relative performance.
Thermo Fisher closed at $665.30 on September 23, 2026, and its shares had gained 44.88% over the prior year. The stock’s 52-week range was $435.27–$677.97.
