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 | |
|---|---|---|---|---|---|---|
101
PayPal
PYPL
$48.6B
| $6.06M | 0.01% |
112,920
-25,400
| -18% | -$1.25M |
|
102
Walt Disney
DIS
$162B
| $5.97M | 0.01% |
56,156
| – | – |
|
103
Caterpillar
CAT
$414B
| $5.83M | ﹤0.01% |
54,276
-526
| -1% | -$53.4K |
|
104
Motorola Solutions
MSI
$67.3B
| $5.57M | ﹤0.01% |
64,196
-2,400
| -4% | -$204K |
|
105
Diageo
DEO
$45.4B
| $5.54M | ﹤0.01% |
46,256
-10,218
| -18% | -$1.22M |
|
106
America Movil
AMX
$77.7B
| $5.52M | ﹤0.01% |
347,000
| – | – |
|
107
Amgen
AMGN
$196B
| $5.36M | ﹤0.01% |
31,137
-1,000
| -3% | -$163K |
|
108
Adient
ADNT
$1.57B
| $5.29M | ﹤0.01% |
80,945
-16,056
| -17% | -$1.09M |
|
109
Gen Digital
GEN
$15.3B
| $4.9M | ﹤0.01% |
173,350
-387,810
| -69% | -$11.7M |
|
110
Johnson & Johnson
JNJ
$614B
| $4.39M | ﹤0.01% |
33,174
-200
| -0.6% | -$25.5K |
|
111
Nucor
NUE
$55.2B
| $4.19M | ﹤0.01% |
72,400
| – | – |
|
112
3M
MMM
$87.7B
| $4.14M | ﹤0.01% |
23,759
-981
| -4% | -$164K |
|
113
McDonald's
MCD
$186B
| $3.32M | ﹤0.01% |
21,656
-1,250
| -5% | -$181K |
|
|
UN
114
DELISTED
Unilever NV New York Registry Shares
UN
| $3.07M | ﹤0.01% |
55,576
| – | – |
|
115
Deere & Co
DE
$164B
| $3.05M | ﹤0.01% |
24,687
-196
| -0.8% | -$23K |
|
116
Berkshire Hathaway Class B
BRK.B
$1.05T
| $2.95M | ﹤0.01% |
17,400
| – | – |
|
117
PNC Financial Services
PNC
$98.7B
| $2.57M | ﹤0.01% |
20,600
| – | – |
|
118
CarMax
KMX
$8.2B
| $2.42M | ﹤0.01% |
38,440
-3,400
| -8% | -$205K |
|
119
AbbVie
ABBV
$451B
| $2.41M | ﹤0.01% |
33,232
| – | – |
|
|
DD
120
DELISTED
Du Pont De Nemours E I
DD
| $2.37M | ﹤0.01% |
29,416
-300
| -1% | -$24K |
|
121
S&P Global
SPGI
$125B
| $2.33M | ﹤0.01% |
15,962
-1,100
| -6% | -$153K |
|
122
Philip Morris
PM
$300B
| $2.25M | ﹤0.01% |
19,133
-267
| -1% | -$30.9K |
|
123
PPG Industries
PPG
$25.6B
| $1.95M | ﹤0.01% |
17,700
-300
| -2% | -$32.5K |
|
124
Genuine Parts
GPC
$16.5B
| $1.84M | ﹤0.01% |
19,862
-700
| -3% | -$64.3K |
|
125
Apple
AAPL
$4.71T
| $1.83M | ﹤0.01% |
50,800
-2,000
| -4% | -$73.9K |
|
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.