Dodge & Cox Portfolio holdings
Dodge & Cox, founded in 1930 by Van Duyn Dodge and E. Morris Cox in San Francisco, California, is an independent, employee-owned investment management firm renowned for its disciplined, value-oriented approach to long-term investing. Managing over $350 billion in assets as of late 2024, the firm offers a concise lineup of mutual funds and separate accounts focusing on U.S. and international equities, fixed income, and balanced portfolios, serving individual and institutional investors with a low-turnover, research-driven strategy. Known for its team-based decision-making and contrarian stance—buying undervalued securities others overlook—Dodge & Cox has maintained a consistent philosophy through decades, avoiding trend-chasing and emphasizing fundamentals, even during market volatility like the 2008 crisis. With a tight-knit team of about 300 employees and no proprietary trading, the firm’s commitment to simplicity, low fees, and client alignment has earned it a loyal following and a reputation as a steadfast player in asset management.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Johnson Controls International
JCI
|
+$1.1B |
| 2 |
DXC Technology
DXC
|
+$1.03B |
| 3 |
APC
Anadarko Petroleum
APC
|
+$529M |
| 4 |
Target
TGT
|
+$497M |
| 5 |
Eli Lilly
LLY
|
+$487M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Petrobras Class A
PBR.A
|
+$1.02B |
| 2 |
Hewlett Packard
HPE
|
+$814M |
| 3 |
Elevance Health
ELV
|
+$498M |
| 4 |
Synopsys
SNPS
|
+$366M |
| 5 |
Corning
GLW
|
+$358M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.09% |
| 2 | Healthcare | 17.63% |
| 3 | Communication Services | 16.71% |
| 4 | Technology | 14.6% |
| 5 | Energy | 7.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
AstraZeneca
AZN
$262B
| $1.93B | 1.63% |
28,334,725
-118,525
| -0.4% | -$7.74M |
|
|
TFCFA
27
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $1.93B | 1.63% |
68,166,289
-243,400
| -0.4% | -$7M |
|
28
UnitedHealth
UNH
$383B
| $1.87B | 1.57% |
10,070,308
-71,875
| -0.7% | -$12.6M |
|
29
Bristol-Myers Squibb
BMY
$126B
| $1.65B | 1.39% |
29,579,461
+459,271
| +2% | +$25M |
|
30
Walmart Inc
WMT
$859B
| $1.61B | 1.36% |
63,748,578
-406,671
| -0.6% | -$10.3M |
|
|
APC
31
DELISTED
Anadarko Petroleum
APC
| $1.49B | 1.25% |
32,794,208
+9,965,600
| +44% | +$529M |
|
32
Union Pacific
UNP
$183B
| $1.47B | 1.24% |
13,482,029
-166,379
| -1% | -$18.1M |
|
33
Booking.com
BKNG
$133B
| $1.45B | 1.23% |
19,420,825
-1,049,250
| -5% | -$76.9M |
|
34
APA Corp
APA
$13.2B
| $1.43B | 1.21% |
29,922,731
+1,152,395
| +4% | +$56.8M |
|
|
S
35
DELISTED
Sprint Corporation
S
| $1.41B | 1.19% |
171,472,536
-3,964,281
| -2% | -$33M |
|
|
BHI
36
DELISTED
Baker Hughes
BHI
| $1.3B | 1.1% |
23,820,739
-417,030
| -2% | -$24M |
|
37
JD.com
JD
$40.5B
| $1.28B | 1.08% |
32,714,191
-8,095,445
| -20% | -$305M |
|
38
Celanese
CE
$5.25B
| $1.12B | 0.94% |
11,757,179
-1,134,176
| -9% | -$101M |
|
39
Suncor Energy
SU
$78.6B
| $1.08B | 0.91% |
36,821,800
+2,587,900
| +8% | +$79.6M |
|
|
40
Target
TGT
$61.3B
| $1.05B | 0.88% |
20,025,223
+9,102,526
| +83% | +$497M |
|
|
41
DXC Technology
DXC
$1.48B
| $1.03B | 0.87% |
+15,559,102
| New | +$1.03B |
|
42
NOV
NOV
$7.29B
| $1.03B | 0.87% |
31,339,689
-2,850
| -0% | -$98.3K |
|
43
Medtronic
MDT
$106B
| $1.03B | 0.87% |
11,583,871
-628,405
| -5% | -$53M |
|
44
Baidu
BIDU
$36B
| $1.02B | 0.86% |
5,679,287
+13,900
| +0.2% | +$2.52M |
|
|
DISH
45
DELISTED
DISH Network Corp.
DISH
| $1.02B | 0.86% |
16,181,380
-32,200
| -0.2% | -$2.03M |
|
46
Liberty Global Class C
LBTYK
$3.39B
| $1.01B | 0.85% |
32,306,221
+3,555,474
| +12% | +$111M |
|
47
Televisa
TV
$1.46B
| $982M | 0.83% |
40,308,617
+2,287,300
| +6% | +$56.8M |
|
48
Truist Financial
TFC
$62B
| $941M | 0.79% |
20,714,919
-290,850
| -1% | -$12.6M |
|
49
Merck
MRK
$323B
| $869M | 0.73% |
14,208,469
-137,785
| -1% | -$8.39M |
|
|
MXIM
50
DELISTED
Maxim Integrated Products
MXIM
| $832M | 0.7% |
18,519,734
-296,139
| -2% | -$13.6M |
|
Similar funds
Dodge & Cox's Q2 2017 Portfolio in Review
As of Q2 2017, Dodge & Cox held 184 positions worth $119B, up 0.75% from $118B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Dodge & Cox's Q2 2017 filing shows 6 new, 25 increased, 114 reduced and 5 closed positions. Its largest new stake was DXC Technology: 15,559,102 shares worth $1.03B. The largest sale was Petrobras Class A, an estimated $1.02B.
By sector, the portfolio is most concentrated in Financials at 25% of assets, down from 25% a quarter earlier, followed by Healthcare and Communication Services.
- Dodge & Cox's largest Q2 2017 buy was DXC Technology: 15,559,102 shares worth $1.03B.
- Dodge & Cox added most to Johnson Controls International in Q2 2017, an estimated $1.1B increase.
- Dodge & Cox's biggest Q2 2017 reduction was Petrobras Class A, cutting an estimated $1.02B.
- Dodge & Cox fully exited Honda in Q2 2017, selling an estimated $159M.
- Dodge & Cox's ten largest holdings make up 31% of its $119B portfolio in Q2 2017.
- Dodge & Cox opened 6 new positions and closed 5 in Q2 2017.
- Dodge & Cox's portfolio value rose 0.75% quarter-over-quarter to $119B.
Based on Dodge & Cox's 13F filing for Q2 2017, filed 11 Aug 2017.