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 |
Charter Communications
CHTR
|
+$1.02B |
| 2 |
International Flavors & Fragrances
IFF
|
+$987M |
| 3 |
American Electric Power
AEP
|
+$924M |
| 4 |
CVS Health
CVS
|
+$810M |
| 5 |
Johnson Controls International
JCI
|
+$707M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microchip Technology
MCHP
|
+$669M |
| 2 |
Ovintiv
OVV
|
+$651M |
| 3 |
Microsoft
MSFT
|
+$539M |
| 4 |
UBS Group
UBS
|
+$500M |
| 5 |
Otis Worldwide
OTIS
|
+$463M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.08% |
| 2 | Healthcare | 21.18% |
| 3 | Technology | 13.05% |
| 4 | Communication Services | 11.27% |
| 5 | Industrials | 11.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Analog Devices
ADI
$181B
| $6.31M | ﹤0.01% |
31,915
-2,670
| -8% | -$513K |
|
127
Cemex
CX
$15.8B
| $5.52M | ﹤0.01% |
613,200
+3,000
| +0.5% | +$24K |
|
128
Deere & Co
DE
$168B
| $5.41M | ﹤0.01% |
13,161
-50
| -0.4% | -$19.2K |
|
129
Berkshire Hathaway Class B
BRK.B
$1.08T
| $5.39M | ﹤0.01% |
12,820
| – | – |
|
130
Apple
AAPL
$4.59T
| $4.18M | ﹤0.01% |
24,356
-100
| -0.4% | -$18.2K |
|
131
Danaher
DHR
$152B
| $4.13M | ﹤0.01% |
16,525
| – | – |
|
132
Amgen
AMGN
$236B
| $4.09M | ﹤0.01% |
14,382
| – | – |
|
133
Shell
SHEL
$250B
| $3.9M | ﹤0.01% |
58,213
-600
| -1% | -$38.4K |
|
134
Halliburton
HAL
$29.6B
| $3.64M | ﹤0.01% |
92,402
-13,300
| -13% | -$476K |
|
135
Johnson & Johnson
JNJ
$640B
| $3.34M | ﹤0.01% |
21,097
| – | – |
|
136
Pfizer
PFE
$160B
| $3.23M | ﹤0.01% |
116,385
| – | – |
|
137
Motorola Solutions
MSI
$80.5B
| $3.06M | ﹤0.01% |
8,627
| – | – |
|
138
APA Corp
APA
$14.8B
| $2.73M | ﹤0.01% |
79,350
-8,600
| -10% | -$273K |
|
|
139
Berkshire Hathaway Class A
BRK.A
$1.08T
| $2.54M | ﹤0.01% |
4
| – | – |
|
140
PNC Financial Services
PNC
$97.1B
| $2.31M | ﹤0.01% |
14,275
| – | – |
|
141
S&P Global
SPGI
$128B
| $2.3M | ﹤0.01% |
5,400
| – | – |
|
|
142
Otis Worldwide
OTIS
$27.2B
| $2.21M | ﹤0.01% |
22,260
-5,004,237
| -100% | -$463M |
|
143
Diageo
DEO
$51.2B
| $2.07M | ﹤0.01% |
13,911
| – | – |
|
144
Abbott
ABT
$193B
| $2.03M | ﹤0.01% |
17,857
| – | – |
|
145
AbbVie
ABBV
$456B
| $2M | ﹤0.01% |
11,006
| – | – |
|
146
McDonald's
MCD
$184B
| $1.85M | ﹤0.01% |
6,550
-400
| -6% | -$116K |
|
147
Corning
GLW
$132B
| $1.82M | ﹤0.01% |
55,200
-900
| -2% | -$28.7K |
|
148
Honeywell
HON
$69.9B
| $1.65M | ﹤0.01% |
8,508
| – | – |
|
149
Parker-Hannifin
PH
$127B
| $1.58M | ﹤0.01% |
2,850
| – | – |
|
150
Vipshop
VIPS
$6.4B
| $1.56M | ﹤0.01% |
94,197
+28,000
| +42% | +$471K |
|
Similar funds
Dodge & Cox's Q1 2024 Portfolio in Review
As of Q1 2024, Dodge & Cox held 202 positions worth $172B, up 9.4% from $158B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Trading was light in Q1 2024: portfolio turnover was 4%. Dodge & Cox opened 5 new positions and exited 3, leaving the 202-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 22% of assets, down from 23% a quarter earlier, followed by Healthcare and Technology.
- Dodge & Cox's largest Q1 2024 buy was American Electric Power: 11,364,305 shares worth $978M.
- Dodge & Cox added most to Charter Communications in Q1 2024, an estimated $1.02B increase.
- Dodge & Cox's biggest Q1 2024 reduction was Microchip Technology, cutting an estimated $669M.
- Dodge & Cox fully exited DISH Network Corp. in Q1 2024, selling an estimated $224M.
- Dodge & Cox's ten largest holdings make up 29% of its $172B portfolio in Q1 2024.
- Dodge & Cox opened 5 new positions and closed 3 in Q1 2024.
- Dodge & Cox's portfolio value rose 9.4% quarter-over-quarter to $172B.
Based on Dodge & Cox's 13F filing for Q1 2024, filed 14 May 2024.