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 |
Johnson Controls International
JCI
|
+$1.53B |
| 2 |
APC
Anadarko Petroleum
APC
|
+$765M |
| 3 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$569M |
| 4 |
Suncor Energy
SU
|
+$564M |
| 5 |
Dell
DELL
|
+$524M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EMC
EMC CORPORATION
EMC
|
+$2.07B |
| 2 |
TYC
TYCO INTL PLC COM SHS (IRL)
TYC
|
+$1.63B |
| 3 |
Gen Digital
GEN
|
+$708M |
| 4 |
Petrobras Class A
PBR.A
|
+$517M |
| 5 |
Microsoft
MSFT
|
+$397M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.56% |
| 2 | Technology | 18.06% |
| 3 | Communication Services | 16.63% |
| 4 | Healthcare | 14.37% |
| 5 | Energy | 10.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Rio Tinto
RIO
$149B
| $501K | ﹤0.01% |
15,000
| – | – |
|
152
Halliburton
HAL
$27.5B
| $413K | ﹤0.01% |
9,200
| – | – |
|
153
Dominion Energy
D
$62.6B
| $372K | ﹤0.01% |
5,012
| – | – |
|
154
Qualcomm
QCOM
$179B
| $372K | ﹤0.01% |
5,430
| – | – |
|
155
Macy's
M
$6.1B
| $370K | ﹤0.01% |
10,000
| – | – |
|
156
Fluor
FLR
$7.33B
| $369K | ﹤0.01% |
7,195
| – | – |
|
|
MRSH
157
Marsh
MRSH
$83.9B
| $360K | ﹤0.01% |
5,360
| – | – |
|
158
Moody's
MCO
$83B
| $357K | ﹤0.01% |
3,300
| – | – |
|
159
Lowe's Companies
LOW
$112B
| $355K | ﹤0.01% |
4,910
| – | – |
|
160
Kraft Heinz
KHC
$29.9B
| $353K | ﹤0.01% |
3,946
| – | – |
|
161
State Street
STT
$50.9B
| $341K | ﹤0.01% |
4,900
| – | – |
|
162
Equinix
EQIX
$102B
| $326K | ﹤0.01% |
904
| – | – |
|
163
Ameriprise Financial
AMP
$47.4B
| $317K | ﹤0.01% |
3,182
| – | – |
|
164
Gilead Sciences
GILD
$161B
| $297K | ﹤0.01% |
3,750
| – | – |
|
165
Verizon
VZ
$184B
| $286K | ﹤0.01% |
5,500
| – | – |
|
166
Allstate
ALL
$65.4B
| $263K | ﹤0.01% |
3,796
| – | – |
|
167
Citigroup
C
$221B
| $257K | ﹤0.01% |
5,450
| – | – |
|
|
YHOO
168
DELISTED
Yahoo Inc
YHOO
| $237K | ﹤0.01% |
5,500
| – | – |
|
169
RTX Corp
RTX
$282B
| $236K | ﹤0.01% |
3,688
-675
| -15% | -$44.8K |
|
|
UFS
170
DELISTED
DOMTAR CORPORATION (New)
UFS
| $230K | ﹤0.01% |
6,200
| – | – |
|
|
LVLT
171
DELISTED
Level 3 Communications Inc
LVLT
| $222K | ﹤0.01% |
4,778
| – | – |
|
|
HES
172
DELISTED
Hess
HES
| $220K | ﹤0.01% |
4,106
| – | – |
|
173
Hartford Financial Services
HIG
$38.9B
| $220K | ﹤0.01% |
5,140
| – | – |
|
174
Morgan Stanley
MS
$339B
| $202K | ﹤0.01% |
+6,300
| New | +$188K |
|
175
Xerox
XRX
$337M
| $172K | ﹤0.01% |
6,451
-2,277
| -26% | -$58.8K |
|
Similar funds
Dodge & Cox's Q3 2016 Portfolio in Review
As of Q3 2016, Dodge & Cox held 180 positions worth $106B, up 5.1% from $101B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Dodge & Cox withdrew a net $3.59B in Q3 2016, closing 4 positions and reducing 87 holdings. Its most notable exit was EMC CORPORATION, an estimated $2.07B position sold in full.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 22% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Dodge & Cox opened a new position in Johnson Controls International worth $1.53B.
- Dodge & Cox's largest Q3 2016 buy was Johnson Controls International: 32,979,554 shares worth $1.53B.
- Dodge & Cox added most to Anadarko Petroleum in Q3 2016, an estimated $765M increase.
- Dodge & Cox's biggest Q3 2016 reduction was Gen Digital, cutting an estimated $708M.
- Dodge & Cox fully exited EMC CORPORATION in Q3 2016, selling an estimated $2.07B.
- Dodge & Cox's ten largest holdings make up 32% of its $106B portfolio in Q3 2016.
- Dodge & Cox opened 5 new positions and closed 4 in Q3 2016.
- Dodge & Cox's portfolio value rose 5.1% quarter-over-quarter to $106B.
Based on Dodge & Cox's 13F filing for Q3 2016, filed 14 Nov 2016.