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
|
+$1.53B |
| 2 |
APC
Anadarko Petroleum
APC
|
+$765M |
| 3 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$569M |
| 4 |
Suncor Energy
SU
|
+$564M |
| 5 |
Dell
DELL
|
+$524M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EMC
EMC CORPORATION
EMC
|
+$2.07B |
| 2 |
TYC
TYCO INTL PLC COM SHS (IRL)
TYC
|
+$1.63B |
| 3 |
Gen Digital
GEN
|
+$708M |
| 4 |
Petrobras Class A
PBR.A
|
+$517M |
| 5 |
Microsoft
MSFT
|
+$397M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.56% |
| 2 | Technology | 18.06% |
| 3 | Communication Services | 16.63% |
| 4 | Healthcare | 14.37% |
| 5 | Energy | 10.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
GE Aerospace
GE
$362B
| $46.3M | 0.04% |
326,302
-10,631
| -3% | -$1.59M |
|
77
Itaú Unibanco
ITUB
$91.7B
| $44.3M | 0.04% |
+9,187,493
| New | +$43.5M |
|
|
JNPR
78
DELISTED
Juniper Networks
JNPR
| $43.1M | 0.04% |
1,791,239
-85,900
| -5% | -$1.99M |
|
79
Cadence Design Systems
CDNS
$92B
| $29.8M | 0.03% |
1,166,443
-28,092
| -2% | -$703K |
|
80
Pfizer
PFE
$142B
| $26.2M | 0.02% |
814,892
-60,540
| -7% | -$2.02M |
|
|
STI
81
DELISTED
SunTrust Banks, Inc.
STI
| $23.8M | 0.02% |
542,599
-14,500
| -3% | -$621K |
|
82
Travelers Companies
TRV
$78.8B
| $22.4M | 0.02% |
195,583
-1,750
| -0.9% | -$205K |
|
83
Adobe
ADBE
$84.5B
| $22.4M | 0.02% |
205,964
-7,300
| -3% | -$732K |
|
84
DuPont de Nemours
DD
$18.5B
| $21.3M | 0.02% |
162,471
-3,135
| -2% | -$418K |
|
85
Ericsson
ERIC
$30.8B
| $17M | 0.02% |
2,360,685
+144,349
| +7% | +$1.05M |
|
86
eBay
EBAY
$48.6B
| $16.8M | 0.02% |
511,213
-51,100
| -9% | -$1.54M |
|
|
CS
87
DELISTED
Credit Suisse Group
CS
| $15.8M | 0.01% |
1,202,216
-222,513
| -16% | -$2.69M |
|
88
IBM
IBM
$192B
| $15.7M | 0.01% |
103,508
-628
| -0.6% | -$95.3K |
|
89
Occidental Petroleum
OXY
$57.5B
| $13.8M | 0.01% |
189,284
-900
| -0.5% | -$67.4K |
|
90
Procter & Gamble
PG
$340B
| $13.6M | 0.01% |
151,223
-340
| -0.2% | -$29.5K |
|
91
ExxonMobil
XOM
$652B
| $12.3M | 0.01% |
140,870
-1,100
| -0.8% | -$97.6K |
|
92
Vulcan Materials
VMC
$35.8B
| $11.4M | 0.01% |
100,405
| – | – |
|
93
Home Depot
HD
$323B
| $11.1M | 0.01% |
86,115
-440
| -0.5% | -$58.6K |
|
94
Thermo Fisher Scientific
TMO
$212B
| $10.8M | 0.01% |
67,602
-459,040
| -87% | -$70.7M |
|
95
Boston Scientific
BSX
$64.1B
| $9.1M | 0.01% |
382,130
-2,800
| -0.7% | -$66.8K |
|
96
PayPal
PYPL
$49.1B
| $8.86M | 0.01% |
216,163
-32,400
| -13% | -$1.25M |
|
97
Diageo
DEO
$45.4B
| $8.57M | 0.01% |
73,874
| – | – |
|
98
Amgen
AMGN
$199B
| $6.7M | 0.01% |
40,157
-1,100
| -3% | -$186K |
|
99
US Bancorp
USB
$98.5B
| $6.59M | 0.01% |
153,734
-2,200
| -1% | -$93.5K |
|
100
Walt Disney
DIS
$161B
| $6.22M | 0.01% |
66,956
-700
| -1% | -$67K |
|
Similar funds
Dodge & Cox's Q3 2016 Portfolio in Review
As of Q3 2016, Dodge & Cox held 180 positions worth $106B, up 5.1% from $101B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Dodge & Cox withdrew a net $3.59B in Q3 2016, closing 4 positions and reducing 87 holdings. Its most notable exit was EMC CORPORATION, an estimated $2.07B position sold in full.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 22% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Dodge & Cox opened a new position in Johnson Controls International worth $1.53B.
- Dodge & Cox's largest Q3 2016 buy was Johnson Controls International: 32,979,554 shares worth $1.53B.
- Dodge & Cox added most to Anadarko Petroleum in Q3 2016, an estimated $765M increase.
- Dodge & Cox's biggest Q3 2016 reduction was Gen Digital, cutting an estimated $708M.
- Dodge & Cox fully exited EMC CORPORATION in Q3 2016, selling an estimated $2.07B.
- Dodge & Cox's ten largest holdings make up 32% of its $106B portfolio in Q3 2016.
- Dodge & Cox opened 5 new positions and closed 4 in Q3 2016.
- Dodge & Cox's portfolio value rose 5.1% quarter-over-quarter to $106B.
Based on Dodge & Cox's 13F filing for Q3 2016, filed 14 Nov 2016.