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 |
T-Mobile US
TMUS
|
+$1.27B |
| 2 |
FISV
Fiserv Inc
FISV
|
+$1,000M |
| 3 |
Honda
HMC
|
+$931M |
| 4 |
Incyte
INCY
|
+$774M |
| 5 |
Gilead Sciences
GILD
|
+$701M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Capital One
COF
|
+$1.06B |
| 2 |
Hewlett Packard
HPE
|
+$654M |
| 3 |
APA Corp
APA
|
+$415M |
| 4 |
Johnson Controls International
JCI
|
+$345M |
| 5 |
Goldman Sachs
GS
|
+$279M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.9% |
| 2 | Technology | 17.61% |
| 3 | Communication Services | 15.85% |
| 4 | Healthcare | 15.64% |
| 5 | Energy | 9.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
3M
MMM
$92.2B
| $2.78M | ﹤0.01% |
16,726
+36
| +0.2% | +$6.01K |
|
127
Unilever
UL
$139B
| $2.72M | ﹤0.01% |
41,308
-888
| -2% | -$59K |
|
128
Cemex
CX
$15.8B
| $2.62M | ﹤0.01% |
312,400
+245,500
| +367% | +$1.95M |
|
129
S&P Global
SPGI
$128B
| $2.42M | ﹤0.01% |
5,900
-190
| -3% | -$73K |
|
130
NetApp
NTAP
$37.4B
| $2.37M | ﹤0.01% |
28,900
-7,000
| -19% | -$547K |
|
131
Abbott
ABT
$193B
| $2.23M | ﹤0.01% |
19,247
-500
| -3% | -$58.3K |
|
132
Berkshire Hathaway Class A
BRK.A
$1.08T
| $2.09M | ﹤0.01% |
5
| – | – |
|
133
Amazon
AMZN
$2.76T
| $1.99M | ﹤0.01% |
11,560
-500
| -4% | -$83.1K |
|
134
Motorola Solutions
MSI
$80.5B
| $1.87M | ﹤0.01% |
8,627
| – | – |
|
135
NextEra Energy
NEE
$174B
| $1.83M | ﹤0.01% |
25,000
+2,000
| +9% | +$150K |
|
136
Philip Morris
PM
$297B
| $1.82M | ﹤0.01% |
18,413
-100
| -0.5% | -$9.6K |
|
137
Honeywell
HON
$69.9B
| $1.8M | ﹤0.01% |
8,733
-106
| -1% | -$22.4K |
|
138
AbbVie
ABBV
$456B
| $1.74M | ﹤0.01% |
15,402
| – | – |
|
139
Dow Inc
DOW
$21.9B
| $1.65M | ﹤0.01% |
26,002
-4,005
| -13% | -$264K |
|
140
Corteva
CTVA
$55B
| $1.5M | ﹤0.01% |
33,771
-1,043
| -3% | -$48.2K |
|
141
Coca-Cola
KO
$383B
| $1.41M | ﹤0.01% |
26,140
+500
| +2% | +$27.2K |
|
142
Norfolk Southern
NSC
$78.1B
| $1.37M | ﹤0.01% |
5,150
+2,900
| +129% | +$800K |
|
143
Genuine Parts
GPC
$18.8B
| $1.36M | ﹤0.01% |
10,725
-1,975
| -16% | -$249K |
|
144
AT&T
T
$174B
| $1.27M | ﹤0.01% |
58,276
-46,508
| -44% | -$1.06M |
|
145
Visa
V
$709B
| $1.24M | ﹤0.01% |
5,300
| – | – |
|
146
Ericsson
ERIC
$33B
| $1.2M | ﹤0.01% |
95,650
-52,200
| -35% | -$699K |
|
147
Colgate-Palmolive
CL
$72.5B
| $1.14M | ﹤0.01% |
14,000
| – | – |
|
148
Altria Group
MO
$113B
| $1.12M | ﹤0.01% |
23,400
-100
| -0.4% | -$4.91K |
|
149
Becton Dickinson
BDX
$51.2B
| $1.06M | ﹤0.01% |
4,490
| – | – |
|
150
Parker-Hannifin
PH
$127B
| $1M | ﹤0.01% |
3,256
| – | – |
|
Similar funds
Dodge & Cox's Q2 2021 Portfolio in Review
As of Q2 2021, Dodge & Cox held 197 positions worth $153B, up 9.3% from $140B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Dodge & Cox's Q2 2021 filing shows 11 new, 39 increased, 108 reduced and 7 closed positions. Its largest new stake was Organon & Co: 22,698 shares worth $686K. The largest sale was Capital One, an estimated $1.06B.
By sector, the portfolio is most concentrated in Financials at 25% of assets, down from 26% a quarter earlier, followed by Technology and Communication Services.
- Dodge & Cox's largest Q2 2021 buy was Organon & Co: 22,698 shares worth $686K.
- Dodge & Cox added most to T-Mobile US in Q2 2021, an estimated $1.27B increase.
- Dodge & Cox's biggest Q2 2021 reduction was Capital One, cutting an estimated $1.06B.
- Dodge & Cox fully exited State Street SPDR S&P 500 ETF Trust in Q2 2021, selling an estimated $1.19M.
- Dodge & Cox's ten largest holdings make up 31% of its $153B portfolio in Q2 2021.
- Dodge & Cox opened 11 new positions and closed 7 in Q2 2021.
- Dodge & Cox's portfolio value rose 9.3% quarter-over-quarter to $153B.
Based on Dodge & Cox's 13F filing for Q2 2021, filed 13 Aug 2021.