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 |
Meta Platforms (Facebook)
META
|
+$951M |
| 2 |
VMW
VMware, Inc
VMW
|
+$780M |
| 3 |
Williams Companies
WMB
|
+$682M |
| 4 |
Carrier Global
CARR
|
+$673M |
| 5 |
Otis Worldwide
OTIS
|
+$494M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
S
Sprint Corporation
S
|
+$769M |
| 2 |
RTX Corp
RTX
|
+$648M |
| 3 |
AstraZeneca
AZN
|
+$574M |
| 4 |
UnitedHealth
UNH
|
+$506M |
| 5 |
MXIM
Maxim Integrated Products
MXIM
|
+$469M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.21% |
| 2 | Technology | 18.94% |
| 3 | Healthcare | 15.58% |
| 4 | Communication Services | 14.38% |
| 5 | Energy | 10.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Berkshire Hathaway Class B
BRK.B
$1.08T
| $2.29M | ﹤0.01% |
12,820
| – | – |
|
127
Diageo
DEO
$51.2B
| $2.26M | ﹤0.01% |
16,811
| – | – |
|
128
Amazon
AMZN
$2.76T
| $2.23M | ﹤0.01% |
16,200
+5,600
| +53% | +$676K |
|
129
Abbott
ABT
$193B
| $2.22M | ﹤0.01% |
24,256
+110
| +0.5% | +$9.94K |
|
130
S&P Global
SPGI
$128B
| $2.01M | ﹤0.01% |
6,090
+390
| +7% | +$117K |
|
131
NetApp
NTAP
$37.4B
| $1.99M | ﹤0.01% |
44,800
-20,150
| -31% | -$866K |
|
132
PNC Financial Services
PNC
$97.1B
| $1.97M | ﹤0.01% |
18,680
| – | – |
|
133
Dow Inc
DOW
$21.9B
| $1.67M | ﹤0.01% |
40,921
-4,363
| -10% | -$160K |
|
134
NextEra Energy
NEE
$174B
| $1.66M | ﹤0.01% |
27,628
-740
| -3% | -$44.3K |
|
135
America Movil
AMX
$70.4B
| $1.63M | ﹤0.01% |
128,200
| – | – |
|
136
AbbVie
ABBV
$456B
| $1.55M | ﹤0.01% |
15,762
-640
| -4% | -$56.3K |
|
137
Genuine Parts
GPC
$18.8B
| $1.34M | ﹤0.01% |
15,457
-1,605
| -9% | -$127K |
|
|
138
Berkshire Hathaway Class A
BRK.A
$1.08T
| $1.34M | ﹤0.01% |
5
| – | – |
|
139
Philip Morris
PM
$297B
| $1.31M | ﹤0.01% |
18,713
| – | – |
|
140
Coca-Cola
KO
$383B
| $1.29M | ﹤0.01% |
28,860
+420
| +1% | +$19.3K |
|
141
Motorola Solutions
MSI
$80.5B
| $1.28M | ﹤0.01% |
9,117
+35
| +0.4% | +$4.95K |
|
142
Honeywell
HON
$69.9B
| $1.23M | ﹤0.01% |
9,051
| – | – |
|
143
Visa
V
$709B
| $1.19M | ﹤0.01% |
6,135
+2,535
| +70% | +$463K |
|
144
ConocoPhillips
COP
$156B
| $1.12M | ﹤0.01% |
26,735
+4,490
| +20% | +$182K |
|
145
Becton Dickinson
BDX
$51.2B
| $1.11M | ﹤0.01% |
4,777
-717
| -13% | -$173K |
|
146
Corteva
CTVA
$55B
| $1.05M | ﹤0.01% |
39,043
-866
| -2% | -$22.5K |
|
147
Colgate-Palmolive
CL
$72.5B
| $1.03M | ﹤0.01% |
14,000
| – | – |
|
148
PepsiCo
PEP
$191B
| $983K | ﹤0.01% |
7,435
+2,290
| +45% | +$302K |
|
149
Altria Group
MO
$113B
| $934K | ﹤0.01% |
23,800
| – | – |
|
150
Air Products & Chemicals
APD
$68B
| $822K | ﹤0.01% |
3,405
+130
| +4% | +$29.7K |
|
Similar funds
Dodge & Cox's Q2 2020 Portfolio in Review
As of Q2 2020, Dodge & Cox held 198 positions worth $109B, up 18% from $92.4B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Dodge & Cox's Q2 2020 filing shows 21 new, 46 increased, 98 reduced and 6 closed positions. Its largest new stake was Meta Platforms (Facebook): 4,555,170 shares worth $1.03B. The largest sale was Sprint Corporation, an estimated $769M.
By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 24% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q2 2020 buy was Meta Platforms (Facebook): 4,555,170 shares worth $1.03B.
- Dodge & Cox added most to VMware, Inc in Q2 2020, an estimated $780M increase.
- Dodge & Cox's biggest Q2 2020 reduction was RTX Corp, cutting an estimated $648M.
- Dodge & Cox fully exited Sprint Corporation in Q2 2020, selling an estimated $769M.
- Dodge & Cox's ten largest holdings make up 30% of its $109B portfolio in Q2 2020.
- Dodge & Cox opened 21 new positions and closed 6 in Q2 2020.
- Dodge & Cox's portfolio value rose 18% quarter-over-quarter to $109B.
Based on Dodge & Cox's 13F filing for Q2 2020, filed 13 Aug 2020.