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 | |
|---|---|---|---|---|---|---|
|
WUBA
76
DELISTED
58.com Inc
WUBA
| $65.3M | 0.06% |
+1,479,566
| New | +$61M |
|
77
Chevron
CVX
$384B
| $43.3M | 0.04% |
414,839
-35,849
| -8% | -$3.8M |
|
|
78
Petrobras Class A
PBR.A
$108B
| $30M | 0.03% |
4,025,100
-119,999,803
| -97% | -$1.02B |
|
79
Cadence Design Systems
CDNS
$93B
| $29.9M | 0.03% |
892,269
-108,375
| -11% | -$3.61M |
|
80
GE Aerospace
GE
$354B
| $29.1M | 0.02% |
224,973
-38,406
| -15% | -$5.26M |
|
81
Travelers Companies
TRV
$77.6B
| $23M | 0.02% |
181,583
-2,000
| -1% | -$246K |
|
|
STI
82
DELISTED
SunTrust Banks, Inc.
STI
| $21.7M | 0.02% |
382,553
-38,227
| -9% | -$2.12M |
|
83
DuPont de Nemours
DD
$18.9B
| $21.7M | 0.02% |
135,676
-6,365
| -4% | -$1.01M |
|
84
Pfizer
PFE
$141B
| $19.3M | 0.02% |
606,290
-108,396
| -15% | -$3.42M |
|
85
ICICI Bank
IBN
$106B
| $18.3M | 0.02% |
2,036,330
-81,500
| -4% | -$689K |
|
86
Adobe
ADBE
$86.8B
| $17.6M | 0.01% |
124,667
-29,510
| -19% | -$4.04M |
|
87
IBM
IBM
$193B
| $14.4M | 0.01% |
98,258
-2,142
| -2% | -$323K |
|
|
CS
88
DELISTED
Credit Suisse Group
CS
| $13.5M | 0.01% |
927,460
-1,864
| -0.2% | -$26.9K |
|
89
Ericsson
ERIC
$31.2B
| $13.4M | 0.01% |
1,870,113
-50,100
| -3% | -$340K |
|
90
Procter & Gamble
PG
$347B
| $12.5M | 0.01% |
143,916
-1,412
| -1% | -$124K |
|
|
91
Elevance Health
ELV
$84.4B
| $12.5M | 0.01% |
66,350
-2,773,018
| -98% | -$498M |
|
92
Home Depot
HD
$330B
| $11.4M | 0.01% |
74,055
-375
| -0.5% | -$57.5K |
|
93
ExxonMobil
XOM
$640B
| $10.9M | 0.01% |
134,680
-732
| -0.5% | -$59.9K |
|
|
RDS.A
94
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $10.2M | 0.01% |
192,132
-51,975
| -21% | -$2.78M |
|
95
Boston Scientific
BSX
$63.9B
| $8.99M | 0.01% |
324,255
-4,400
| -1% | -$117K |
|
96
Vulcan Materials
VMC
$36B
| $8.9M | 0.01% |
70,280
-2,916
| -4% | -$366K |
|
97
Occidental Petroleum
OXY
$57.2B
| $8.65M | 0.01% |
144,422
-20,700
| -13% | -$1.27M |
|
98
Thermo Fisher Scientific
TMO
$196B
| $8.32M | 0.01% |
47,687
-600
| -1% | -$101K |
|
99
eBay
EBAY
$49.3B
| $7.04M | 0.01% |
201,696
-75,861
| -27% | -$2.6M |
|
100
US Bancorp
USB
$100B
| $6.18M | 0.01% |
119,134
-8,500
| -7% | -$438K |
|
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.