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 | |
|---|---|---|---|---|---|---|
126
McDonald's
MCD
$184B
| $2.53M | ﹤0.01% |
15,138
-800
| -5% | -$128K |
|
127
Abbott
ABT
$193B
| $2.41M | ﹤0.01% |
32,829
+5,600
| +21% | +$368K |
|
128
eBay
EBAY
$45.5B
| $2.1M | ﹤0.01% |
63,735
-6,600
| -9% | -$229K |
|
129
Amazon
AMZN
$2.76T
| $2.06M | ﹤0.01% |
20,600
+5,000
| +32% | +$470K |
|
130
PPG Industries
PPG
$25.2B
| $1.85M | ﹤0.01% |
17,000
| – | – |
|
131
Genuine Parts
GPC
$18.8B
| $1.84M | ﹤0.01% |
18,562
-1,000
| -5% | -$98K |
|
132
ConocoPhillips
COP
$156B
| $1.79M | ﹤0.01% |
23,188
-1,500
| -6% | -$108K |
|
133
CarMax
KMX
$8.89B
| $1.73M | ﹤0.01% |
23,200
| – | – |
|
134
S&P Global
SPGI
$128B
| $1.62M | ﹤0.01% |
8,300
| – | – |
|
135
Berkshire Hathaway Class A
BRK.A
$1.08T
| $1.6M | ﹤0.01% |
5
+2
| +67% | +$619K |
|
136
Becton Dickinson
BDX
$51.2B
| $1.57M | ﹤0.01% |
6,181
-615
| -9% | -$151K |
|
137
Philip Morris
PM
$297B
| $1.54M | ﹤0.01% |
18,913
| – | – |
|
138
Honeywell
HON
$69.9B
| $1.52M | ﹤0.01% |
10,219
+2,657
| +35% | +$377K |
|
139
Altria Group
MO
$113B
| $1.44M | ﹤0.01% |
23,800
| – | – |
|
140
Coca-Cola
KO
$383B
| $1.39M | ﹤0.01% |
30,022
| – | – |
|
141
NextEra Energy
NEE
$174B
| $1.2M | ﹤0.01% |
28,568
-2,400
| -8% | -$102K |
|
142
Philips
PHG
$26.3B
| $988K | ﹤0.01% |
27,956
| – | – |
|
143
Colgate-Palmolive
CL
$72.5B
| $937K | ﹤0.01% |
14,000
| – | – |
|
144
Visa
V
$709B
| $825K | ﹤0.01% |
5,500
| – | – |
|
|
DNB
145
DELISTED
Dun & Bradstreet
DNB
| $730K | ﹤0.01% |
5,125
| – | – |
|
146
Chubb
CB
$131B
| $714K | ﹤0.01% |
5,344
-2,170
| -29% | -$294K |
|
|
PRSP
147
DELISTED
Perspecta Inc. Common Stock
PRSP
| $697K | ﹤0.01% |
27,090
-45,775
| -63% | -$1.07M |
|
148
Norfolk Southern
NSC
$78.1B
| $685K | ﹤0.01% |
3,797
| – | – |
|
|
CTXS
149
DELISTED
Citrix Systems Inc
CTXS
| $684K | ﹤0.01% |
6,150
| – | – |
|
150
PepsiCo
PEP
$191B
| $676K | ﹤0.01% |
6,045
+1,800
| +42% | +$204K |
|
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.