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 |
T-Mobile US
TMUS
|
+$1.27B |
| 2 |
FISV
Fiserv Inc
FISV
|
+$1,000M |
| 3 |
Honda
HMC
|
+$931M |
| 4 |
Incyte
INCY
|
+$774M |
| 5 |
Gilead Sciences
GILD
|
+$701M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Capital One
COF
|
+$1.06B |
| 2 |
Hewlett Packard
HPE
|
+$654M |
| 3 |
APA Corp
APA
|
+$415M |
| 4 |
Johnson Controls International
JCI
|
+$345M |
| 5 |
Goldman Sachs
GS
|
+$279M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.9% |
| 2 | Technology | 17.61% |
| 3 | Communication Services | 15.85% |
| 4 | Healthcare | 15.64% |
| 5 | Energy | 9.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Caterpillar
CAT
$376B
| $8.4M | 0.01% |
38,579
-1,023
| -3% | -$236K |
|
|
MXIM
102
DELISTED
Maxim Integrated Products
MXIM
| $8.29M | 0.01% |
78,665
-2,310
| -3% | -$226K |
|
103
GE Aerospace
GE
$356B
| $7.34M | ﹤0.01% |
109,384
+45,766
| +72% | +$3.05M |
|
104
ExxonMobil
XOM
$643B
| $7.1M | ﹤0.01% |
112,498
-766
| -0.7% | -$45.7K |
|
105
IBM
IBM
$225B
| $6.75M | ﹤0.01% |
48,170
-3,020
| -6% | -$413K |
|
106
Corning
GLW
$132B
| $6.52M | ﹤0.01% |
159,336
-7,266
| -4% | -$317K |
|
107
Pfizer
PFE
$160B
| $6.34M | ﹤0.01% |
161,921
-6,458
| -4% | -$251K |
|
108
Vulcan Materials
VMC
$35.5B
| $5.68M | ﹤0.01% |
32,650
-1,900
| -5% | -$340K |
|
109
Apple
AAPL
$4.59T
| $5.64M | ﹤0.01% |
41,156
| – | – |
|
110
Boston Scientific
BSX
$67.6B
| $5.56M | ﹤0.01% |
130,090
-1,200
| -0.9% | -$50.5K |
|
111
Danaher
DHR
$152B
| $4.88M | ﹤0.01% |
20,492
| – | – |
|
112
Deere & Co
DE
$168B
| $4.79M | ﹤0.01% |
13,596
-318
| -2% | -$116K |
|
113
Synopsys
SNPS
$89.1B
| $4.57M | ﹤0.01% |
16,584
+1,954
| +13% | +$496K |
|
114
Johnson & Johnson
JNJ
$640B
| $4.26M | ﹤0.01% |
25,856
-200
| -0.8% | -$33.1K |
|
115
iShares Russell 1000 Value ETF
IWD
$84B
| $4.12M | ﹤0.01% |
26,000
-59,500
| -70% | -$9.42M |
|
116
Amgen
AMGN
$236B
| $4.12M | ﹤0.01% |
16,907
-880
| -5% | -$216K |
|
117
America Movil
AMX
$70.4B
| $3.62M | ﹤0.01% |
241,160
+112,960
| +88% | +$1.68M |
|
118
Berkshire Hathaway Class B
BRK.B
$1.08T
| $3.56M | ﹤0.01% |
12,820
| – | – |
|
119
eBay
EBAY
$45.5B
| $3.26M | ﹤0.01% |
46,381
| – | – |
|
|
RDS.A
120
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $3.12M | ﹤0.01% |
77,098
-1,500
| -2% | -$59.6K |
|
121
US Bancorp
USB
$97.2B
| $3.07M | ﹤0.01% |
53,950
-14,239
| -21% | -$835K |
|
122
Diageo
DEO
$51.2B
| $3.04M | ﹤0.01% |
15,861
-950
| -6% | -$177K |
|
123
McDonald's
MCD
$184B
| $2.92M | ﹤0.01% |
12,625
-200
| -2% | -$46.5K |
|
124
DuPont de Nemours
DD
$18.7B
| $2.81M | ﹤0.01% |
28,963
-7,022
| -20% | -$705K |
|
125
PNC Financial Services
PNC
$97.1B
| $2.8M | ﹤0.01% |
14,675
-175
| -1% | -$32.8K |
|
Similar funds
Dodge & Cox's Q2 2021 Portfolio in Review
As of Q2 2021, Dodge & Cox held 197 positions worth $153B, up 9.3% from $140B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Dodge & Cox's Q2 2021 filing shows 11 new, 39 increased, 108 reduced and 7 closed positions. Its largest new stake was Organon & Co: 22,698 shares worth $686K. The largest sale was Capital One, an estimated $1.06B.
By sector, the portfolio is most concentrated in Financials at 25% of assets, down from 26% a quarter earlier, followed by Technology and Communication Services.
- Dodge & Cox's largest Q2 2021 buy was Organon & Co: 22,698 shares worth $686K.
- Dodge & Cox added most to T-Mobile US in Q2 2021, an estimated $1.27B increase.
- Dodge & Cox's biggest Q2 2021 reduction was Capital One, cutting an estimated $1.06B.
- Dodge & Cox fully exited State Street SPDR S&P 500 ETF Trust in Q2 2021, selling an estimated $1.19M.
- Dodge & Cox's ten largest holdings make up 31% of its $153B portfolio in Q2 2021.
- Dodge & Cox opened 11 new positions and closed 7 in Q2 2021.
- Dodge & Cox's portfolio value rose 9.3% quarter-over-quarter to $153B.
Based on Dodge & Cox's 13F filing for Q2 2021, filed 13 Aug 2021.