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 | |
|---|---|---|---|---|---|---|
126
Altria Group
MO
$120B
| $1.77M | ﹤0.01% |
23,800
| – | – |
|
127
Coca-Cola
KO
$350B
| $1.54M | ﹤0.01% |
34,242
| – | – |
|
128
Becton Dickinson
BDX
$42.3B
| $1.52M | ﹤0.01% |
7,975
-1,076
| -12% | -$197K |
|
129
Abbott
ABT
$175B
| $1.42M | ﹤0.01% |
29,268
| – | – |
|
130
GSK
GSK
$101B
| $1.28M | ﹤0.01% |
23,750
-2,000
| -8% | -$107K |
|
131
NextEra Energy
NEE
$187B
| $1.26M | ﹤0.01% |
35,968
-2,216
| -6% | -$75.7K |
|
132
Chubb
CB
$133B
| $1.25M | ﹤0.01% |
8,562
-2,447
| -22% | -$344K |
|
133
ConocoPhillips
COP
$148B
| $1.11M | ﹤0.01% |
25,288
| – | – |
|
134
Colgate-Palmolive
CL
$71.9B
| $1.04M | ﹤0.01% |
14,000
| – | – |
|
135
Honeywell
HON
$79.1B
| $1M | ﹤0.01% |
8,337
| – | – |
|
136
Duke Energy
DUK
$99.9B
| $970K | ﹤0.01% |
11,601
-666
| -5% | -$56K |
|
137
Air Products & Chemicals
APD
$66.1B
| $866K | ﹤0.01% |
6,050
-100
| -2% | -$14.2K |
|
138
Amazon
AMZN
$2.54T
| $852K | ﹤0.01% |
17,600
-1,500
| -8% | -$71.6K |
|
139
Philips
PHG
$25.2B
| $811K | ﹤0.01% |
29,840
-2,371
| -7% | -$62.1K |
|
140
Unilever
UL
$130B
| $796K | ﹤0.01% |
13,067
-7,822
| -37% | -$466K |
|
141
Berkshire Hathaway Class A
BRK.A
$1.05T
| $764K | ﹤0.01% |
3
| – | – |
|
142
Parker-Hannifin
PH
$123B
| $700K | ﹤0.01% |
4,381
| – | – |
|
|
CSRA
143
DELISTED
CSRA Inc.
CSRA
| $662K | ﹤0.01% |
20,850
-2,300
| -10% | -$68.9K |
|
144
Visa
V
$664B
| $645K | ﹤0.01% |
6,880
-400
| -5% | -$37.1K |
|
145
General Mills
GIS
$19.3B
| $620K | ﹤0.01% |
11,200
| – | – |
|
|
WBA
146
DELISTED
Walgreens Boots Alliance
WBA
| $593K | ﹤0.01% |
7,569
| – | – |
|
|
DNB
147
DELISTED
Dun & Bradstreet
DNB
| $587K | ﹤0.01% |
5,425
| – | – |
|
|
CTXS
148
DELISTED
Citrix Systems Inc
CTXS
| $575K | ﹤0.01% |
7,226
-300
| -4% | -$24.9K |
|
149
Phillips 66
PSX
$85.8B
| $569K | ﹤0.01% |
6,877
| – | – |
|
150
Rio Tinto
RIO
$150B
| $525K | ﹤0.01% |
12,400
| – | – |
|
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.