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
|
+$1.64B |
| 2 |
Dell
DELL
|
+$486M |
| 3 |
Ovintiv
OVV
|
+$450M |
| 4 |
Fox Class A
FOXA
|
+$410M |
| 5 |
Baker Hughes
BKR
|
+$404M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
APC
Anadarko Petroleum
APC
|
+$1.53B |
| 2 |
Charter Communications
CHTR
|
+$1.19B |
| 3 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$763M |
| 4 |
Microsoft
MSFT
|
+$754M |
| 5 |
Danaher
DHR
|
+$645M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.99% |
| 2 | Healthcare | 17.39% |
| 3 | Technology | 15.46% |
| 4 | Communication Services | 14.34% |
| 5 | Energy | 11.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
AbbVie
ABBV
$456B
| $2.35M | ﹤0.01% |
31,002
-107
| -0.3% | -$7.34K |
|
|
VMW
127
DELISTED
VMware, Inc
VMW
| $2.34M | ﹤0.01% |
15,600
-100
| -0.6% | -$15.7K |
|
128
eBay
EBAY
$45.5B
| $2.08M | ﹤0.01% |
53,231
| – | – |
|
129
S&P Global
SPGI
$128B
| $2.01M | ﹤0.01% |
8,200
| – | – |
|
130
Nucor
NUE
$57.3B
| $1.94M | ﹤0.01% |
38,100
| – | – |
|
131
DXC Technology
DXC
$1.76B
| $1.88M | ﹤0.01% |
63,865
-19,081
| -23% | -$813K |
|
132
Genuine Parts
GPC
$18.8B
| $1.83M | ﹤0.01% |
18,362
-200
| -1% | -$19.2K |
|
133
NextEra Energy
NEE
$174B
| $1.66M | ﹤0.01% |
28,568
| – | – |
|
134
PPG Industries
PPG
$25.2B
| $1.66M | ﹤0.01% |
14,000
| – | – |
|
135
Corteva
CTVA
$55B
| $1.65M | ﹤0.01% |
58,831
-20,570
| -26% | -$595K |
|
136
Berkshire Hathaway Class A
BRK.A
$1.08T
| $1.56M | ﹤0.01% |
5
| – | – |
|
137
Coca-Cola
KO
$383B
| $1.55M | ﹤0.01% |
28,440
| – | – |
|
138
Honeywell
HON
$69.9B
| $1.46M | ﹤0.01% |
9,157
| – | – |
|
139
Philip Morris
PM
$297B
| $1.44M | ﹤0.01% |
18,913
| – | – |
|
140
Becton Dickinson
BDX
$51.2B
| $1.36M | ﹤0.01% |
5,494
-308
| -5% | -$76K |
|
141
ConocoPhillips
COP
$156B
| $1.28M | ﹤0.01% |
22,445
-743
| -3% | -$42.3K |
|
142
CarMax
KMX
$8.89B
| $1.18M | ﹤0.01% |
13,400
-500
| -4% | -$42.9K |
|
143
Ball Corp
BALL
$16.8B
| $1.1M | ﹤0.01% |
15,070
-1,600
| -10% | -$119K |
|
144
Colgate-Palmolive
CL
$72.5B
| $1.03M | ﹤0.01% |
14,000
| – | – |
|
145
Philips
PHG
$26.3B
| $1M | ﹤0.01% |
27,300
| – | – |
|
146
Altria Group
MO
$113B
| $973K | ﹤0.01% |
23,800
| – | – |
|
147
Amazon
AMZN
$2.76T
| $920K | ﹤0.01% |
10,600
| – | – |
|
148
Air Products & Chemicals
APD
$68B
| $732K | ﹤0.01% |
3,300
| – | – |
|
149
PepsiCo
PEP
$191B
| $705K | ﹤0.01% |
5,145
| – | – |
|
150
Mondelez International
MDLZ
$79.7B
| $655K | ﹤0.01% |
11,840
| – | – |
|
Similar funds
Dodge & Cox's Q3 2019 Portfolio in Review
As of Q3 2019, Dodge & Cox held 183 positions worth $122B, down 1.7% from $124B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Trading was light in Q3 2019: portfolio turnover was 2.7%. Dodge & Cox opened 3 new positions and exited 2, leaving the 183-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 Technology.
- Dodge & Cox's largest Q3 2019 buy was Ovintiv: 19,671,036 shares worth $452M.
- Dodge & Cox added most to Occidental Petroleum in Q3 2019, an estimated $1.64B increase.
- Dodge & Cox's biggest Q3 2019 reduction was Charter Communications, cutting an estimated $1.19B.
- Dodge & Cox fully exited Anadarko Petroleum in Q3 2019, selling an estimated $1.53B.
- Dodge & Cox's ten largest holdings make up 32% of its $122B portfolio in Q3 2019.
- Dodge & Cox opened 3 new positions and closed 2 in Q3 2019.
- Dodge & Cox's portfolio value fell 1.7% quarter-over-quarter to $122B.
Based on Dodge & Cox's 13F filing for Q3 2019, filed 13 Nov 2019.