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 |
Bristol-Myers Squibb
BMY
|
+$1.23B |
| 2 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$477M |
| 3 |
Medtronic
MDT
|
+$401M |
| 4 |
Sanofi
SNY
|
+$364M |
| 5 |
Wells Fargo
WFC
|
+$215M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gen Digital
GEN
|
+$770M |
| 2 |
Bank of America
BAC
|
+$769M |
| 3 |
UnitedHealth
UNH
|
+$495M |
| 4 |
BHI
Baker Hughes
BHI
|
+$450M |
| 5 |
HP
HPQ
|
+$446M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 26.66% |
| 2 | Communication Services | 16.03% |
| 3 | Technology | 15.63% |
| 4 | Healthcare | 14.79% |
| 5 | Energy | 9.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Apple
AAPL
$4.72T
| $1.73M | ﹤0.01% |
59,572
-43,044
| -42% | -$1.22M |
|
127
PPG Industries
PPG
$25.3B
| $1.71M | ﹤0.01% |
18,000
| – | – |
|
128
Altria Group
MO
$120B
| $1.61M | ﹤0.01% |
23,800
| – | – |
|
129
Coca-Cola
KO
$349B
| $1.42M | ﹤0.01% |
34,242
| – | – |
|
130
GSK
GSK
$101B
| $1.42M | ﹤0.01% |
29,410
-4,160
| -12% | -$205K |
|
131
Unilever
UL
$129B
| $1.36M | ﹤0.01% |
29,778
-23,911
| -45% | -$1.11M |
|
|
CSRA
132
DELISTED
CSRA Inc.
CSRA
| $1.34M | ﹤0.01% |
42,100
-1,300
| -3% | -$38K |
|
133
ConocoPhillips
COP
$148B
| $1.27M | ﹤0.01% |
25,288
-1,500
| -6% | -$69.2K |
|
134
NextEra Energy
NEE
$187B
| $1.16M | ﹤0.01% |
38,984
-1,320
| -3% | -$39.4K |
|
135
Abbott
ABT
$175B
| $1.12M | ﹤0.01% |
29,268
| – | – |
|
136
Duke Energy
DUK
$101B
| $1.01M | ﹤0.01% |
12,979
| – | – |
|
137
Colgate-Palmolive
CL
$71.6B
| $916K | ﹤0.01% |
14,000
| – | – |
|
138
Air Products & Chemicals
APD
$65.7B
| $892K | ﹤0.01% |
6,200
-556
| -8% | -$77.8K |
|
139
Honeywell
HON
$77.3B
| $872K | ﹤0.01% |
8,337
-44
| -0.5% | -$4.47K |
|
140
Amazon
AMZN
$2.52T
| $754K | ﹤0.01% |
20,100
-1,000
| -5% | -$39.2K |
|
141
Berkshire Hathaway Class A
BRK.A
$1.06T
| $732K | ﹤0.01% |
3
| – | – |
|
142
Philips
PHG
$25.3B
| $729K | ﹤0.01% |
32,211
-7,428
| -19% | -$162K |
|
|
CTXS
143
DELISTED
Citrix Systems Inc
CTXS
| $717K | ﹤0.01% |
10,079
-251
| -2% | -$17.4K |
|
144
General Mills
GIS
$19B
| $692K | ﹤0.01% |
11,200
| – | – |
|
|
WBA
145
DELISTED
Walgreens Boots Alliance
WBA
| $669K | ﹤0.01% |
8,079
-500
| -6% | -$41.3K |
|
|
DNB
146
DELISTED
Dun & Bradstreet
DNB
| $658K | ﹤0.01% |
5,425
| – | – |
|
147
Parker-Hannifin
PH
$123B
| $647K | ﹤0.01% |
4,618
| – | – |
|
148
Phillips 66
PSX
$84.3B
| $603K | ﹤0.01% |
6,977
-700
| -9% | -$58.2K |
|
149
Visa
V
$667B
| $591K | ﹤0.01% |
7,580
-1,500
| -17% | -$121K |
|
150
Norfolk Southern
NSC
$77.8B
| $583K | ﹤0.01% |
5,397
-100
| -2% | -$10.1K |
|
Similar funds
Dodge & Cox's Q4 2016 Portfolio in Review
As of Q4 2016, Dodge & Cox held 182 positions worth $113B, up 5.8% from $106B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Trading was light in Q4 2016: portfolio turnover was 3.8%. Dodge & Cox opened 6 new positions and exited 1, leaving the 182-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 24% a quarter earlier, followed by Communication Services and Technology.
- Dodge & Cox's largest Q4 2016 buy was Zayo Group Holdings, Inc.: 14,566,252 shares worth $479M.
- Dodge & Cox added most to Bristol-Myers Squibb in Q4 2016, an estimated $1.23B increase.
- Dodge & Cox's biggest Q4 2016 reduction was Gen Digital, cutting an estimated $770M.
- Dodge & Cox fully exited Hartford Financial Services in Q4 2016, selling an estimated $220K.
- Dodge & Cox's ten largest holdings make up 33% of its $113B portfolio in Q4 2016.
- Dodge & Cox opened 6 new positions and closed 1 in Q4 2016.
- Dodge & Cox's portfolio value rose 5.8% quarter-over-quarter to $113B.
Based on Dodge & Cox's 13F filing for Q4 2016, filed 14 Feb 2017.