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 |
UBS Group
UBS
|
+$1.66B |
| 2 |
CVS Health
CVS
|
+$1.08B |
| 3 |
Microchip Technology
MCHP
|
+$927M |
| 4 |
Booking.com
BKNG
|
+$833M |
| 5 |
FedEx
FDX
|
+$500M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$913M |
| 2 |
Bank of America
BAC
|
+$586M |
| 3 |
AT&T
T
|
+$541M |
| 4 |
Capital One
COF
|
+$501M |
| 5 |
VMW
VMware, Inc
VMW
|
+$480M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.49% |
| 2 | Healthcare | 21.17% |
| 3 | Communication Services | 17.82% |
| 4 | Technology | 14.08% |
| 5 | Energy | 10.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Alphabet (Google) Class A
GOOGL
$4.17T
| $168M | 0.13% |
2,789,580
-122,200
| -4% | -$7.4M |
|
77
Ball Corp
BALL
$16.8B
| $155M | 0.12% |
+3,530,021
| New | +$144M |
|
78
News Corp Class A
NWSA
$16.8B
| $152M | 0.12% |
11,498,624
-45,700
| -0.4% | -$641K |
|
79
Liberty Latin America Class C
LILAK
$1.62B
| $137M | 0.1% |
7,761,196
-1,270
| -0% | -$21.4K |
|
|
80
Liberty Latin America Class A
LILA
$1.63B
| $116M | 0.09% |
8,700,464
-731
| -0% | -$9.19K |
|
81
Itaú Unibanco
ITUB
$83B
| $74.7M | 0.06% |
14,033,800
+4,117,983
| +42% | +$22.1M |
|
82
Merck
MRK
$369B
| $70.4M | 0.05% |
1,039,892
-2,423,862
| -70% | -$154M |
|
83
Elanco Animal Health
ELAN
$12.2B
| $70.2M | 0.05% |
+2,012,033
| New | +$70.8M |
|
84
Chevron
CVX
$392B
| $42.3M | 0.03% |
346,218
-3,730
| -1% | -$453K |
|
85
Petrobras Class A
PBR.A
$107B
| $42M | 0.03% |
4,012,282
+635,682
| +19% | +$6.17M |
|
86
Walmart Inc
WMT
$817B
| $22.6M | 0.02% |
721,107
-229,050
| -24% | -$7.01M |
|
87
Corning
GLW
$132B
| $22M | 0.02% |
624,574
-150,523
| -19% | -$4.89M |
|
88
Cadence Design Systems
CDNS
$95.7B
| $21.5M | 0.02% |
473,505
-14,295
| -3% | -$651K |
|
89
Travelers Companies
TRV
$77B
| $19.6M | 0.02% |
151,173
-2,220
| -1% | -$286K |
|
90
Pfizer
PFE
$160B
| $19.1M | 0.01% |
456,407
-1,160
| -0.3% | -$44.7K |
|
91
ICICI Bank
IBN
$107B
| $17.3M | 0.01% |
2,037,930
-71,500
| -3% | -$632K |
|
92
DuPont de Nemours
DD
$18.7B
| $16.9M | 0.01% |
103,797
-555
| -0.5% | -$95.5K |
|
93
Ericsson
ERIC
$33B
| $15.3M | 0.01% |
1,737,974
-1,600
| -0.1% | -$13.1K |
|
|
CS
94
DELISTED
Credit Suisse Group
CS
| $13.8M | 0.01% |
922,641
+11,850
| +1% | +$181K |
|
95
NetApp
NTAP
$37.4B
| $13.4M | 0.01% |
156,078
-56,400
| -27% | -$4.66M |
|
96
Adobe
ADBE
$115B
| $13M | 0.01% |
48,339
-550
| -1% | -$142K |
|
|
STI
97
DELISTED
SunTrust Banks, Inc.
STI
| $13M | 0.01% |
195,190
-8,100
| -4% | -$578K |
|
98
Home Depot
HD
$328B
| $12.9M | 0.01% |
62,500
+25
| +0% | +$5.03K |
|
99
IBM
IBM
$225B
| $11.9M | 0.01% |
82,540
-3,231
| -4% | -$451K |
|
100
Procter & Gamble
PG
$333B
| $11.4M | 0.01% |
136,442
+986
| +0.7% | +$80.6K |
|
Similar funds
Dodge & Cox's Q3 2018 Portfolio in Review
As of Q3 2018, Dodge & Cox held 193 positions worth $131B, up 4.4% from $125B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Dodge & Cox's Q3 2018 filing shows 17 new, 49 increased, 90 reduced and 3 closed positions. Its largest new stake was UBS Group: 105,532,270 shares worth $1.67B. The largest sale was Twenty-First Century Fox, Inc. Class A, an estimated $913M.
By sector, the portfolio is most concentrated in Financials at 23% of assets, down from 24% a quarter earlier, followed by Healthcare and Communication Services.
- Dodge & Cox's largest Q3 2018 buy was UBS Group: 105,532,270 shares worth $1.67B.
- Dodge & Cox added most to Booking.com in Q3 2018, an estimated $833M increase.
- Dodge & Cox's biggest Q3 2018 reduction was Twenty-First Century Fox, Inc. Class A, cutting an estimated $913M.
- Dodge & Cox fully exited Adient in Q3 2018, selling an estimated $314K.
- Dodge & Cox's ten largest holdings make up 30% of its $131B portfolio in Q3 2018.
- Dodge & Cox opened 17 new positions and closed 3 in Q3 2018.
- Dodge & Cox's portfolio value rose 4.4% quarter-over-quarter to $131B.
Based on Dodge & Cox's 13F filing for Q3 2018, filed 14 Nov 2018.