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 |
GSK
GSK
|
+$1.08B |
| 2 |
Comcast
CMCSA
|
+$656M |
| 3 |
Medtronic
MDT
|
+$492M |
| 4 |
JNPR
Juniper Networks
JNPR
|
+$436M |
| 5 |
Johnson Controls International
JCI
|
+$427M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walmart Inc
WMT
|
+$1.37B |
| 2 |
VMW
VMware, Inc
VMW
|
+$728M |
| 3 |
HP
HPQ
|
+$660M |
| 4 |
Bank of America
BAC
|
+$626M |
| 5 |
Goldman Sachs
GS
|
+$560M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.98% |
| 2 | Healthcare | 19.53% |
| 3 | Communication Services | 15.87% |
| 4 | Technology | 14.22% |
| 5 | Energy | 6.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
CarMax
KMX
$8.2B
| $1.67M | ﹤0.01% |
26,000
-3,000
| -10% | -$214K |
|
127
Abbott
ABT
$175B
| $1.55M | ﹤0.01% |
27,229
-103
| -0.4% | -$5.71K |
|
128
Becton Dickinson
BDX
$42.1B
| $1.53M | ﹤0.01% |
7,308
-615
| -8% | -$129K |
|
129
ConocoPhillips
COP
$148B
| $1.39M | ﹤0.01% |
25,288
| – | – |
|
130
Coca-Cola
KO
$349B
| $1.38M | ﹤0.01% |
30,022
-2,020
| -6% | -$92.9K |
|
131
NextEra Energy
NEE
$188B
| $1.3M | ﹤0.01% |
33,368
-800
| -2% | -$30.9K |
|
132
Adient
ADNT
$1.58B
| $1.24M | ﹤0.01% |
15,717
-61,419
| -80% | -$4.95M |
|
133
Chubb
CB
$136B
| $1.17M | ﹤0.01% |
8,014
-260
| -3% | -$38.8K |
|
134
Honeywell
HON
$78.4B
| $1.16M | ﹤0.01% |
8,337
| – | – |
|
135
Gen Digital
GEN
$15.1B
| $1.07M | ﹤0.01% |
38,200
-83,250
| -69% | -$2.49M |
|
136
Colgate-Palmolive
CL
$71.8B
| $1.06M | ﹤0.01% |
14,000
| – | – |
|
137
Amazon
AMZN
$2.52T
| $971K | ﹤0.01% |
16,600
| – | – |
|
138
Berkshire Hathaway Class A
BRK.A
$1.06T
| $893K | ﹤0.01% |
3
| – | – |
|
139
Parker-Hannifin
PH
$123B
| $864K | ﹤0.01% |
4,331
| – | – |
|
140
Duke Energy
DUK
$100B
| $840K | ﹤0.01% |
9,985
-1,383
| -12% | -$121K |
|
141
Air Products & Chemicals
APD
$65.8B
| $829K | ﹤0.01% |
5,050
| – | – |
|
142
Philips
PHG
$25.4B
| $820K | ﹤0.01% |
28,588
-461
| -2% | -$13.9K |
|
143
Visa
V
$666B
| $670K | ﹤0.01% |
5,880
-500
| -8% | -$55.2K |
|
144
General Mills
GIS
$19.1B
| $664K | ﹤0.01% |
11,200
| – | – |
|
|
DNB
145
DELISTED
Dun & Bradstreet
DNB
| $642K | ﹤0.01% |
5,425
| – | – |
|
146
Unilever
UL
$130B
| $625K | ﹤0.01% |
10,044
-3,023
| -23% | -$192K |
|
147
Rio Tinto
RIO
$149B
| $593K | ﹤0.01% |
11,200
| – | – |
|
148
Norfolk Southern
NSC
$78B
| $579K | ﹤0.01% |
3,997
| – | – |
|
|
CTXS
149
DELISTED
Citrix Systems Inc
CTXS
| $565K | ﹤0.01% |
6,426
-800
| -11% | -$67.8K |
|
150
Phillips 66
PSX
$84.4B
| $552K | ﹤0.01% |
5,455
-1,000
| -15% | -$95.1K |
|
Similar funds
Dodge & Cox's Q4 2017 Portfolio in Review
As of Q4 2017, Dodge & Cox held 182 positions worth $129B, up 3.8% from $124B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Trading was light in Q4 2017: portfolio turnover was 3.3%. Dodge & Cox opened 2 new positions and exited 4, leaving the 182-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 24% a quarter earlier, followed by Healthcare and Communication Services.
- Dodge & Cox's largest Q4 2017 buy was Mattel: 26,067,900 shares worth $401M.
- Dodge & Cox added most to GSK in Q4 2017, an estimated $1.08B increase.
- Dodge & Cox's biggest Q4 2017 reduction was Walmart Inc, cutting an estimated $1.37B.
- Dodge & Cox fully exited 58.com Inc in Q4 2017, selling an estimated $41.2M.
- Dodge & Cox's ten largest holdings make up 30% of its $129B portfolio in Q4 2017.
- Dodge & Cox opened 2 new positions and closed 4 in Q4 2017.
- Dodge & Cox's portfolio value rose 3.8% quarter-over-quarter to $129B.
Based on Dodge & Cox's 13F filing for Q4 2017, filed 14 Feb 2018.