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 | |
|---|---|---|---|---|---|---|
76
Liberty Latin America Class C
LILAK
$1.46B
| $132M | 0.1% |
7,763,284
-1,285
| -0% | -$24.2K |
|
|
77
Liberty Latin America Class A
LILA
$1.47B
| $112M | 0.09% |
8,703,069
+899,124
| +12% | +$12.7M |
|
78
Itaú Unibanco
ITUB
$92.7B
| $74.7M | 0.06% |
11,847,848
-161,622
| -1% | -$1.03M |
|
79
Chevron
CVX
$391B
| $46.1M | 0.04% |
368,257
-13,970
| -4% | -$1.66M |
|
80
Petrobras Class A
PBR.A
$110B
| $37.1M | 0.03% |
3,774,100
-32,500
| -0.9% | -$320K |
|
81
Cadence Design Systems
CDNS
$92.9B
| $30.1M | 0.02% |
720,160
-51,864
| -7% | -$2.23M |
|
82
DXC Technology
DXC
$1.5B
| $22.7M | 0.02% |
276,681
-4,511,933
| -94% | -$364M |
|
83
Travelers Companies
TRV
$77.2B
| $22.2M | 0.02% |
163,843
-7,316
| -4% | -$965K |
|
84
DuPont de Nemours
DD
$18.7B
| $21.5M | 0.02% |
118,990
-18,190
| -13% | -$3.28M |
|
85
ICICI Bank
IBN
$105B
| $19.6M | 0.02% |
2,014,030
| – | – |
|
|
STI
86
DELISTED
SunTrust Banks, Inc.
STI
| $18.6M | 0.01% |
288,420
-52,050
| -15% | -$3.18M |
|
87
Pfizer
PFE
$142B
| $17.3M | 0.01% |
503,107
-55,136
| -10% | -$1.88M |
|
|
CS
88
DELISTED
Credit Suisse Group
CS
| $16.5M | 0.01% |
925,232
-6,231
| -0.7% | -$103K |
|
89
Tapestry
TPR
$28.8B
| $16.1M | 0.01% |
364,715
-7,704,914
| -95% | -$318M |
|
90
Adobe
ADBE
$86.4B
| $16.1M | 0.01% |
91,653
-8,950
| -9% | -$1.54M |
|
91
GE Aerospace
GE
$362B
| $13.5M | 0.01% |
161,085
-20,577
| -11% | -$1.96M |
|
92
IBM
IBM
$189B
| $13.3M | 0.01% |
90,462
-3,738
| -4% | -$544K |
|
93
Home Depot
HD
$325B
| $13.1M | 0.01% |
68,885
-1,545
| -2% | -$267K |
|
94
Procter & Gamble
PG
$342B
| $12.8M | 0.01% |
138,816
-2,970
| -2% | -$267K |
|
95
Ericsson
ERIC
$30.9B
| $11.6M | 0.01% |
1,734,674
-182,068
| -9% | -$1.13M |
|
|
RDS.A
96
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $11M | 0.01% |
164,379
-8,404
| -5% | -$530K |
|
97
ExxonMobil
XOM
$651B
| $10.8M | 0.01% |
129,068
-2,462
| -2% | -$204K |
|
98
Thermo Fisher Scientific
TMO
$214B
| $8.34M | 0.01% |
43,937
-1,800
| -4% | -$345K |
|
99
Caterpillar
CAT
$414B
| $7.77M | 0.01% |
49,334
-2,847
| -5% | -$395K |
|
100
Vulcan Materials
VMC
$35.7B
| $7.31M | 0.01% |
56,975
-8,405
| -13% | -$1.03M |
|
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.