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 |
FedEx
FDX
|
+$631M |
| 2 |
SLB Ltd
SLB
|
+$550M |
| 3 |
TE Connectivity
TEL
|
+$541M |
| 4 |
Fox Class A
FOXA
|
+$517M |
| 5 |
RTX Corp
RTX
|
+$367M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$2B |
| 2 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$577M |
| 3 |
OPTU
Optimum Communications Inc
OPTU
|
+$411M |
| 4 |
American Express
AXP
|
+$239M |
| 5 |
Hewlett Packard
HPE
|
+$212M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.79% |
| 2 | Healthcare | 18.15% |
| 3 | Communication Services | 16.28% |
| 4 | Technology | 14.13% |
| 5 | Energy | 10.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Apple
AAPL
$4.67T
| $2.35M | ﹤0.01% |
49,600
-8,800
| -15% | -$373K |
|
127
PNC Financial Services
PNC
$96.6B
| $2.29M | ﹤0.01% |
18,680
| – | – |
|
128
eBay
EBAY
$46.5B
| $2.11M | ﹤0.01% |
56,781
-2,800
| -5% | -$97.1K |
|
129
Genuine Parts
GPC
$18.8B
| $2.08M | ﹤0.01% |
18,562
| – | – |
|
130
PPG Industries
PPG
$25.1B
| $1.92M | ﹤0.01% |
17,000
| – | – |
|
131
S&P Global
SPGI
$130B
| $1.75M | ﹤0.01% |
8,300
| – | – |
|
132
Philip Morris
PM
$300B
| $1.67M | ﹤0.01% |
18,913
| – | – |
|
133
CarMax
KMX
$8.87B
| $1.62M | ﹤0.01% |
23,200
| – | – |
|
134
ConocoPhillips
COP
$157B
| $1.55M | ﹤0.01% |
23,188
| – | – |
|
135
Berkshire Hathaway Class A
BRK.A
$1.08T
| $1.51M | ﹤0.01% |
5
| – | – |
|
136
Becton Dickinson
BDX
$51.6B
| $1.41M | ﹤0.01% |
5,802
-20
| -0.3% | -$4.73K |
|
137
Honeywell
HON
$68.2B
| $1.4M | ﹤0.01% |
9,370
-424
| -4% | -$59.3K |
|
138
Coca-Cola
KO
$387B
| $1.38M | ﹤0.01% |
29,478
| – | – |
|
139
NextEra Energy
NEE
$170B
| $1.38M | ﹤0.01% |
28,568
| – | – |
|
140
Altria Group
MO
$114B
| $1.37M | ﹤0.01% |
23,800
| – | – |
|
141
Amazon
AMZN
$2.86T
| $1.03M | ﹤0.01% |
11,600
-9,000
| -44% | -$749K |
|
142
Colgate-Palmolive
CL
$72.4B
| $960K | ﹤0.01% |
14,000
| – | – |
|
143
Philips
PHG
$26.1B
| $887K | ﹤0.01% |
27,956
| – | – |
|
144
PepsiCo
PEP
$192B
| $680K | ﹤0.01% |
5,545
-200
| -3% | -$22.8K |
|
145
Air Products & Chemicals
APD
$68.1B
| $630K | ﹤0.01% |
3,300
| – | – |
|
146
Duke Energy
DUK
$93.7B
| $609K | ﹤0.01% |
6,765
| – | – |
|
147
Mondelez International
MDLZ
$79.8B
| $591K | ﹤0.01% |
11,840
| – | – |
|
148
Norfolk Southern
NSC
$78B
| $584K | ﹤0.01% |
3,124
-100
| -3% | -$17.3K |
|
149
General Mills
GIS
$22.2B
| $580K | ﹤0.01% |
11,200
| – | – |
|
150
Chubb
CB
$131B
| $569K | ﹤0.01% |
4,062
-721
| -15% | -$95.9K |
|
Similar funds
Dodge & Cox's Q1 2019 Portfolio in Review
As of Q1 2019, Dodge & Cox held 183 positions worth $122B, up 12% from $109B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Trading was light in Q1 2019: portfolio turnover was 3.8%. Dodge & Cox opened 2 new positions and exited 5, leaving the 183-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 25% a quarter earlier, followed by Healthcare and Communication Services.
- Dodge & Cox's largest Q1 2019 buy was Fox Class A: 13,278,252 shares worth $487M.
- Dodge & Cox added most to FedEx in Q1 2019, an estimated $631M increase.
- Dodge & Cox's biggest Q1 2019 reduction was American Express, cutting an estimated $239M.
- Dodge & Cox fully exited Twenty-First Century Fox, Inc. Class A in Q1 2019, selling an estimated $2B.
- Dodge & Cox's ten largest holdings make up 31% of its $122B portfolio in Q1 2019.
- Dodge & Cox opened 2 new positions and closed 5 in Q1 2019.
- Dodge & Cox's portfolio value rose 12% quarter-over-quarter to $122B.
Based on Dodge & Cox's 13F filing for Q1 2019, filed 14 May 2019.