Dodge & Cox International Stock Fund Q1 2026 Shareholder Letter
2026-04-27·via All Articles on Seeking Alpha
Summary
International equity markets declined in the first quarter of 2026, as the conflict in Iran disrupted global energy supply and reversed the rally from the first six weeks of the year.
International value stocks continued to outperform growth stocks during the quarter.
During the first quarter, we found several opportunities to invest in high-quality companies that we believe the market has mispriced due to fears of disruption from AI.
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Market Commentary
International equity markets declined in the first quarter of 2026, as the conflict in Iran disrupted global energy supply and reversed the rally from the first six weeks of the year. The conflict effectively closed