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 |
GSK
GSK
|
+$1.08B |
| 2 |
Comcast
CMCSA
|
+$656M |
| 3 |
Medtronic
MDT
|
+$492M |
| 4 |
JNPR
Juniper Networks
JNPR
|
+$436M |
| 5 |
Johnson Controls International
JCI
|
+$427M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walmart Inc
WMT
|
+$1.37B |
| 2 |
VMW
VMware, Inc
VMW
|
+$728M |
| 3 |
HP
HPQ
|
+$660M |
| 4 |
Bank of America
BAC
|
+$626M |
| 5 |
Goldman Sachs
GS
|
+$560M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.98% |
| 2 | Healthcare | 19.53% |
| 3 | Communication Services | 15.87% |
| 4 | Technology | 14.22% |
| 5 | Energy | 6.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
S
51
DELISTED
Sprint Corporation
S
| $977M | 0.76% |
165,926,159
-330,592
| -0.2% | -$2.1M |
|
|
MXIM
52
DELISTED
Maxim Integrated Products
MXIM
| $930M | 0.72% |
17,784,464
-494,052
| -3% | -$25.7M |
|
53
Televisa
TV
$1.46B
| $884M | 0.68% |
47,333,975
+7,185,258
| +18% | +$149M |
|
|
ZAYO
54
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $880M | 0.68% |
23,908,669
+139,348
| +0.6% | +$4.93M |
|
|
CXO
55
DELISTED
CONCHO RESOURCES INC.
CXO
| $850M | 0.66% |
5,660,918
-3,580
| -0.1% | -$498K |
|
|
QVCGA
56
DELISTED
QVC Group Inc Series A
QVCGA
| $845M | 0.65% |
712,429
+12,057
| +2% | +$14M |
|
|
DISH
57
DELISTED
DISH Network Corp.
DISH
| $786M | 0.61% |
16,458,596
+419,000
| +3% | +$20.9M |
|
58
Merck
MRK
$319B
| $776M | 0.6% |
14,456,045
+347,377
| +2% | +$19.3M |
|
59
Cemex
CX
$18.2B
| $735M | 0.57% |
97,945,322
+26,210,906
| +37% | +$207M |
|
60
Liberty Global Class A
LBTYA
$3.47B
| $680M | 0.53% |
18,979,403
+900
| +0% | +$28.6K |
|
61
Aegon
AEG
$13.4B
| $672M | 0.52% |
131,161,443
-465,564
| -0.4% | -$2.27M |
|
62
NetApp
NTAP
$32.8B
| $659M | 0.51% |
11,906,898
-288,147
| -2% | -$14.5M |
|
|
AGU
63
DELISTED
Agrium
AGU
| $635M | 0.49% |
5,519,926
-360,300
| -6% | -$39.1M |
|
|
64
Walmart Inc
WMT
$856B
| $603M | 0.47% |
18,304,764
-44,862,342
| -71% | -$1.37B |
|
65
Corning
GLW
$136B
| $505M | 0.39% |
15,789,186
-194,271
| -1% | -$6.12M |
|
66
Danaher
DHR
$130B
| $482M | 0.37% |
5,856,828
-28,087
| -0.5% | -$2.28M |
|
67
Synopsys
SNPS
$72.2B
| $482M | 0.37% |
5,652,855
-124,370
| -2% | -$10.8M |
|
|
TFCF
68
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $479M | 0.37% |
14,041,660
-4,800
| -0% | -$140K |
|
69
Harley-Davidson
HOG
$2.85B
| $442M | 0.34% |
8,693,301
-20,411
| -0.2% | -$992K |
|
70
Mattel
MAT
$4.15B
| $401M | 0.31% |
+26,067,900
| New | +$413M |
|
|
WFT
71
DELISTED
Weatherford International plc
WFT
| $346M | 0.27% |
83,005,521
-139,100
| -0.2% | -$513K |
|
72
Occidental Petroleum
OXY
$58.1B
| $275M | 0.21% |
3,730,760
+499,356
| +15% | +$33.9M |
|
73
Alphabet (Google) Class A
GOOGL
$3.9T
| $204M | 0.16% |
3,869,880
-188,600
| -5% | -$9.74M |
|
74
News Corp Class A
NWSA
$14.6B
| $193M | 0.15% |
11,923,424
+565,231
| +5% | +$8.46M |
|
75
Brighthouse Financial
BHF
$3.63B
| $193M | 0.15% |
3,292,201
-396,939
| -11% | -$23.5M |
|
Similar funds
Dodge & Cox's Q4 2017 Portfolio in Review
As of Q4 2017, Dodge & Cox held 182 positions worth $129B, up 3.8% from $124B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Trading was light in Q4 2017: portfolio turnover was 3.3%. Dodge & Cox opened 2 new positions and exited 4, leaving the 182-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 24% a quarter earlier, followed by Healthcare and Communication Services.
- Dodge & Cox's largest Q4 2017 buy was Mattel: 26,067,900 shares worth $401M.
- Dodge & Cox added most to GSK in Q4 2017, an estimated $1.08B increase.
- Dodge & Cox's biggest Q4 2017 reduction was Walmart Inc, cutting an estimated $1.37B.
- Dodge & Cox fully exited 58.com Inc in Q4 2017, selling an estimated $41.2M.
- Dodge & Cox's ten largest holdings make up 30% of its $129B portfolio in Q4 2017.
- Dodge & Cox opened 2 new positions and closed 4 in Q4 2017.
- Dodge & Cox's portfolio value rose 3.8% quarter-over-quarter to $129B.
Based on Dodge & Cox's 13F filing for Q4 2017, filed 14 Feb 2018.