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 | |
|---|---|---|---|---|---|---|
101
ExxonMobil
XOM
$643B
| $10.9M | 0.01% |
128,344
+1,526
| +1% | +$125K |
|
|
RDS.A
102
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $10.9M | 0.01% |
159,879
+1,800
| +1% | +$120K |
|
103
DXC Technology
DXC
$1.76B
| $9.96M | 0.01% |
106,467
-24,186
| -19% | -$2.14M |
|
104
Thermo Fisher Scientific
TMO
$233B
| $9.79M | 0.01% |
40,098
-1,000
| -2% | -$230K |
|
105
Boston Scientific
BSX
$67.6B
| $7.86M | 0.01% |
204,255
-7,700
| -4% | -$269K |
|
106
GE Aerospace
GE
$356B
| $7.74M | 0.01% |
143,105
-2,173
| -1% | -$134K |
|
107
Caterpillar
CAT
$376B
| $7.06M | 0.01% |
46,292
-1,453
| -3% | -$206K |
|
108
Motorola Solutions
MSI
$80.5B
| $6.91M | 0.01% |
53,082
| – | – |
|
109
Walt Disney
DIS
$184B
| $6.74M | 0.01% |
57,656
+2,800
| +5% | +$312K |
|
110
US Bancorp
USB
$97.2B
| $5.56M | ﹤0.01% |
105,221
+5,100
| +5% | +$270K |
|
111
Vulcan Materials
VMC
$35.5B
| $5.26M | ﹤0.01% |
47,325
-200
| -0.4% | -$23.2K |
|
112
Amgen
AMGN
$236B
| $4.77M | ﹤0.01% |
23,022
-1,300
| -5% | -$256K |
|
113
PayPal
PYPL
$52.6B
| $4.7M | ﹤0.01% |
53,475
-3,525
| -6% | -$310K |
|
114
Johnson & Johnson
JNJ
$640B
| $4.38M | ﹤0.01% |
31,690
+1,700
| +6% | +$226K |
|
115
Nucor
NUE
$57.3B
| $4.19M | ﹤0.01% |
66,100
| – | – |
|
116
America Movil
AMX
$70.4B
| $4.1M | ﹤0.01% |
255,400
-77,500
| -23% | -$1.31M |
|
117
3M
MMM
$92.2B
| $3.65M | ﹤0.01% |
20,716
-837
| -4% | -$144K |
|
118
Diageo
DEO
$51.2B
| $3.58M | ﹤0.01% |
25,263
+850
| +3% | +$122K |
|
119
Berkshire Hathaway Class B
BRK.B
$1.08T
| $3.52M | ﹤0.01% |
16,420
+200
| +1% | +$41K |
|
120
Apple
AAPL
$4.59T
| $3.39M | ﹤0.01% |
60,000
+14,000
| +30% | +$729K |
|
|
VMW
121
DELISTED
VMware, Inc
VMW
| $3.37M | ﹤0.01% |
21,600
-3,137,950
| -99% | -$480M |
|
122
AbbVie
ABBV
$456B
| $2.96M | ﹤0.01% |
31,292
+1,700
| +6% | +$161K |
|
123
Deere & Co
DE
$168B
| $2.95M | ﹤0.01% |
19,604
-750
| -4% | -$108K |
|
|
UN
124
DELISTED
Unilever NV New York Registry Shares
UN
| $2.63M | ﹤0.01% |
47,342
-2,984
| -6% | -$169K |
|
125
PNC Financial Services
PNC
$97.1B
| $2.58M | ﹤0.01% |
18,980
-1,100
| -5% | -$156K |
|
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.