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
|
+$1.1B |
| 2 |
DXC Technology
DXC
|
+$1.03B |
| 3 |
APC
Anadarko Petroleum
APC
|
+$529M |
| 4 |
Target
TGT
|
+$497M |
| 5 |
Eli Lilly
LLY
|
+$487M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Petrobras Class A
PBR.A
|
+$1.02B |
| 2 |
Hewlett Packard
HPE
|
+$814M |
| 3 |
Elevance Health
ELV
|
+$498M |
| 4 |
Synopsys
SNPS
|
+$366M |
| 5 |
Corning
GLW
|
+$358M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.09% |
| 2 | Healthcare | 17.63% |
| 3 | Communication Services | 16.71% |
| 4 | Technology | 14.6% |
| 5 | Energy | 7.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Mondelez International
MDLZ
$76.8B
| $511K | ﹤0.01% |
11,840
| – | – |
|
152
Kimberly-Clark
KMB
$35.5B
| $509K | ﹤0.01% |
3,943
| – | – |
|
|
LVNTA
153
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $500K | ﹤0.01% |
9,570
-1,813
| -16% | -$94.8K |
|
154
Norfolk Southern
NSC
$77.8B
| $499K | ﹤0.01% |
4,097
-700
| -15% | -$82.3K |
|
155
PepsiCo
PEP
$184B
| $490K | ﹤0.01% |
4,245
-300
| -7% | -$34.4K |
|
156
State Street
STT
$50.7B
| $413K | ﹤0.01% |
4,600
| – | – |
|
157
Halliburton
HAL
$27.4B
| $393K | ﹤0.01% |
9,200
| – | – |
|
158
Ameriprise Financial
AMP
$47.1B
| $374K | ﹤0.01% |
2,942
| – | – |
|
159
Dominion Energy
D
$62.8B
| $361K | ﹤0.01% |
4,712
| – | – |
|
|
LEXEA
160
DELISTED
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
| $345K | ﹤0.01% |
6,381
-1,208
| -16% | -$60.9K |
|
161
Moody's
MCO
$82.9B
| $341K | ﹤0.01% |
2,800
-500
| -15% | -$58.5K |
|
162
Kraft Heinz
KHC
$30B
| $338K | ﹤0.01% |
3,946
| – | – |
|
163
Allstate
ALL
$65.5B
| $336K | ﹤0.01% |
3,796
| – | – |
|
164
Qualcomm
QCOM
$178B
| $300K | ﹤0.01% |
5,430
| – | – |
|
|
AABA
165
DELISTED
Altaba Inc
AABA
| $300K | ﹤0.01% |
+5,500
| New | +$299K |
|
|
MRSH
166
Marsh
MRSH
$83.9B
| $285K | ﹤0.01% |
3,660
-200
| -5% | -$15.1K |
|
167
Fluor
FLR
$7.39B
| $284K | ﹤0.01% |
6,205
| – | – |
|
168
Equinix
EQIX
$102B
| $259K | ﹤0.01% |
604
-50
| -8% | -$21.2K |
|
|
LVLT
169
DELISTED
Level 3 Communications Inc
LVLT
| $254K | ﹤0.01% |
4,278
-500
| -10% | -$30.1K |
|
170
Verizon
VZ
$184B
| $246K | ﹤0.01% |
5,500
| – | – |
|
171
Macy's
M
$6.12B
| $232K | ﹤0.01% |
10,000
| – | – |
|
172
Gilead Sciences
GILD
$162B
| $230K | ﹤0.01% |
3,250
| – | – |
|
173
RTX Corp
RTX
$281B
| $226K | ﹤0.01% |
2,940
-748
| -20% | -$56K |
|
|
UFS
174
DELISTED
DOMTAR CORPORATION (New)
UFS
| $219K | ﹤0.01% |
5,700
-500
| -8% | -$18.7K |
|
|
AET
175
DELISTED
Aetna Inc
AET
| $213K | ﹤0.01% |
+1,400
| New | +$198K |
|
Similar funds
Dodge & Cox's Q2 2017 Portfolio in Review
As of Q2 2017, Dodge & Cox held 184 positions worth $119B, up 0.75% from $118B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Dodge & Cox's Q2 2017 filing shows 6 new, 25 increased, 114 reduced and 5 closed positions. Its largest new stake was DXC Technology: 15,559,102 shares worth $1.03B. The largest sale was Petrobras Class A, an estimated $1.02B.
By sector, the portfolio is most concentrated in Financials at 25% of assets, down from 25% a quarter earlier, followed by Healthcare and Communication Services.
- Dodge & Cox's largest Q2 2017 buy was DXC Technology: 15,559,102 shares worth $1.03B.
- Dodge & Cox added most to Johnson Controls International in Q2 2017, an estimated $1.1B increase.
- Dodge & Cox's biggest Q2 2017 reduction was Petrobras Class A, cutting an estimated $1.02B.
- Dodge & Cox fully exited Honda in Q2 2017, selling an estimated $159M.
- Dodge & Cox's ten largest holdings make up 31% of its $119B portfolio in Q2 2017.
- Dodge & Cox opened 6 new positions and closed 5 in Q2 2017.
- Dodge & Cox's portfolio value rose 0.75% quarter-over-quarter to $119B.
Based on Dodge & Cox's 13F filing for Q2 2017, filed 11 Aug 2017.