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 | |
|---|---|---|---|---|---|---|
|
VMW
51
DELISTED
VMware, Inc
VMW
| $788M | 0.66% |
9,009,171
-226,200
| -2% | -$20.9M |
|
52
Alnylam Pharmaceuticals
ALNY
$35.6B
| $733M | 0.62% |
9,185,820
-213,425
| -2% | -$13.6M |
|
53
Tapestry
TPR
$29B
| $711M | 0.6% |
15,021,982
-90,175
| -0.6% | -$3.95M |
|
|
QVCGA
54
DELISTED
QVC Group Inc Series A
QVCGA
| $696M | 0.59% |
584,005
+93,271
| +19% | +$103M |
|
55
Cemex
CX
$18.4B
| $677M | 0.57% |
71,865,916
+6,257,905
| +10% | +$55.1M |
|
|
CXO
56
DELISTED
CONCHO RESOURCES INC.
CXO
| $673M | 0.57% |
5,535,730
-3,600
| -0.1% | -$455K |
|
57
Liberty Global Class A
LBTYA
$3.52B
| $610M | 0.51% |
18,980,203
+2,830,216
| +18% | +$90.6M |
|
58
Aegon
AEG
$13.5B
| $551M | 0.47% |
136,362,485
-4,412,257
| -3% | -$17.3M |
|
|
ZAYO
59
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $512M | 0.43% |
16,565,828
+96,250
| +0.6% | +$3.15M |
|
|
AGU
60
DELISTED
Agrium
AGU
| $511M | 0.43% |
5,644,826
+1,407,700
| +33% | +$130M |
|
61
Dell
DELL
$285B
| $509M | 0.43% |
29,651,742
-7,784,844
| -21% | -$143M |
|
62
NetApp
NTAP
$32.6B
| $493M | 0.42% |
12,319,220
-2,364,615
| -16% | -$94.3M |
|
|
JNPR
63
DELISTED
Juniper Networks
JNPR
| $493M | 0.42% |
17,690,957
+74,877
| +0.4% | +$2.18M |
|
|
64
Eli Lilly
LLY
$1.04T
| $493M | 0.42% |
5,991,952
+5,964,955
| +22,095% | +$487M |
|
|
65
Corning
GLW
$133B
| $486M | 0.41% |
16,166,252
-12,467,478
| -44% | -$358M |
|
66
Harley-Davidson
HOG
$2.91B
| $472M | 0.4% |
8,746,112
-25,900
| -0.3% | -$1.44M |
|
|
67
Synopsys
SNPS
$72.3B
| $453M | 0.38% |
6,217,525
-4,974,750
| -44% | -$366M |
|
68
Danaher
DHR
$126B
| $443M | 0.37% |
5,922,872
+170,948
| +3% | +$12.8M |
|
|
TFCF
69
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $391M | 0.33% |
14,018,960
-68,900
| -0.5% | -$1.95M |
|
|
WFT
70
DELISTED
Weatherford International plc
WFT
| $323M | 0.27% |
83,358,621
-88,100
| -0.1% | -$448K |
|
71
Alphabet (Google) Class A
GOOGL
$4.17T
| $234M | 0.2% |
5,042,460
-1,339,000
| -21% | -$62.6M |
|
72
News Corp Class A
NWSA
$14.8B
| $149M | 0.13% |
10,882,034
+1,040,473
| +11% | +$13.6M |
|
73
Liberty Latin America Class C
LILAK
$1.47B
| $143M | 0.12% |
7,791,320
+9,929
| +0.1% | +$182K |
|
|
74
Liberty Latin America Class A
LILA
$1.49B
| $109M | 0.09% |
7,837,836
+9,215
| +0.1% | +$126K |
|
75
Itaú Unibanco
ITUB
$93.5B
| $68M | 0.06% |
12,686,670
+589,381
| +5% | +$3.31M |
|
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.