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 |
Occidental Petroleum
OXY
|
+$1.35B |
| 2 |
Cognizant
CTSH
|
+$1.13B |
| 3 |
HES
Hess
HES
|
+$597M |
| 4 |
Microchip Technology
MCHP
|
+$583M |
| 5 |
FedEx
FDX
|
+$538M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
APC
Anadarko Petroleum
APC
|
+$1.59B |
| 2 |
Comcast
CMCSA
|
+$1.31B |
| 3 |
Novartis
NVS
|
+$942M |
| 4 |
Eli Lilly
LLY
|
+$685M |
| 5 |
Union Pacific
UNP
|
+$645M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.18% |
| 2 | Healthcare | 17.09% |
| 3 | Technology | 15.97% |
| 4 | Communication Services | 15.64% |
| 5 | Energy | 10.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
PNC Financial Services
PNC
$96.6B
| $2.56M | ﹤0.01% |
18,680
| – | – |
|
127
Corteva
CTVA
$56B
| $2.35M | ﹤0.01% |
+79,401
| New | +$2.14M |
|
128
AbbVie
ABBV
$451B
| $2.26M | ﹤0.01% |
31,109
-183
| -0.6% | -$14.4K |
|
129
Apple
AAPL
$4.67T
| $2.19M | ﹤0.01% |
44,320
-5,280
| -11% | -$257K |
|
130
eBay
EBAY
$47B
| $2.1M | ﹤0.01% |
53,231
-3,550
| -6% | -$133K |
|
131
Nucor
NUE
$56.8B
| $2.1M | ﹤0.01% |
38,100
-28,000
| -42% | -$1.54M |
|
132
Genuine Parts
GPC
$19B
| $1.92M | ﹤0.01% |
18,562
| – | – |
|
133
S&P Global
SPGI
$131B
| $1.87M | ﹤0.01% |
8,200
-100
| -1% | -$21.8K |
|
134
PPG Industries
PPG
$25.4B
| $1.63M | ﹤0.01% |
14,000
-3,000
| -18% | -$342K |
|
135
Berkshire Hathaway Class A
BRK.A
$1.08T
| $1.59M | ﹤0.01% |
5
| – | – |
|
136
Honeywell
HON
$68.9B
| $1.51M | ﹤0.01% |
9,157
-213
| -2% | -$33.9K |
|
137
Philip Morris
PM
$299B
| $1.49M | ﹤0.01% |
18,913
| – | – |
|
138
NextEra Energy
NEE
$171B
| $1.46M | ﹤0.01% |
28,568
| – | – |
|
139
Coca-Cola
KO
$386B
| $1.45M | ﹤0.01% |
28,440
-1,038
| -4% | -$50.9K |
|
140
Becton Dickinson
BDX
$51.6B
| $1.43M | ﹤0.01% |
5,802
| – | – |
|
141
ConocoPhillips
COP
$157B
| $1.41M | ﹤0.01% |
23,188
| – | – |
|
142
CarMax
KMX
$8.81B
| $1.21M | ﹤0.01% |
13,900
-9,300
| -40% | -$727K |
|
143
Ball Corp
BALL
$16.9B
| $1.17M | ﹤0.01% |
16,670
-2,398,801
| -99% | -$149M |
|
144
Altria Group
MO
$115B
| $1.13M | ﹤0.01% |
23,800
| – | – |
|
145
Amazon
AMZN
$2.87T
| $1M | ﹤0.01% |
10,600
-1,000
| -9% | -$93.2K |
|
146
Colgate-Palmolive
CL
$72.3B
| $1M | ﹤0.01% |
14,000
| – | – |
|
147
Philips
PHG
$26.1B
| $946K | ﹤0.01% |
27,300
-656
| -2% | -$21.1K |
|
148
Air Products & Chemicals
APD
$68.6B
| $747K | ﹤0.01% |
3,300
| – | – |
|
149
PepsiCo
PEP
$193B
| $675K | ﹤0.01% |
5,145
-400
| -7% | -$51.3K |
|
150
Mondelez International
MDLZ
$79.6B
| $638K | ﹤0.01% |
11,840
| – | – |
|
Similar funds
Dodge & Cox's Q2 2019 Portfolio in Review
As of Q2 2019, Dodge & Cox held 183 positions worth $124B, up 1.5% from $122B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Trading was light in Q2 2019: portfolio turnover was 4.4%. Dodge & Cox opened 5 new positions and exited 3, leaving the 183-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 24% a quarter earlier, followed by Healthcare and Technology.
- Dodge & Cox's largest Q2 2019 buy was Cognizant: 17,257,544 shares worth $1.09B.
- Dodge & Cox added most to Occidental Petroleum in Q2 2019, an estimated $1.35B increase.
- Dodge & Cox's biggest Q2 2019 reduction was Anadarko Petroleum, cutting an estimated $1.59B.
- Dodge & Cox fully exited Weatherford International plc in Q2 2019, selling an estimated $41.4M.
- Dodge & Cox's ten largest holdings make up 31% of its $124B portfolio in Q2 2019.
- Dodge & Cox opened 5 new positions and closed 3 in Q2 2019.
- Dodge & Cox's portfolio value rose 1.5% quarter-over-quarter to $124B.
Based on Dodge & Cox's 13F filing for Q2 2019, filed 13 Aug 2019.