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 |
Air Products & Chemicals
APD
|
+$1.8B |
| 2 |
Baxter International
BAX
|
+$627M |
| 3 |
SBA Communications
SBAC
|
+$360M |
| 4 |
SCHW
Charles Schwab
SCHW
|
+$250M |
| 5 |
Humana
HUM
|
+$223M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Truist Financial
TFC
|
+$1.09B |
| 2 |
JNPR
Juniper Networks
JNPR
|
+$790M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$766M |
| 4 |
BNY
Bank of New York Mellon
BNY
|
+$411M |
| 5 |
Wells Fargo
WFC
|
+$301M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 22.27% |
| 2 | Financials | 19.03% |
| 3 | Industrials | 12.6% |
| 4 | Technology | 12% |
| 5 | Communication Services | 11.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
McDonald's
MCD
$187B
| $1.99M | ﹤0.01% |
6,550
| – | – |
|
152
Corning
GLW
$129B
| $1.92M | ﹤0.01% |
42,450
-5,700
| -12% | -$240K |
|
153
Diageo
DEO
$51.6B
| $1.9M | ﹤0.01% |
13,511
| – | – |
|
154
Parker-Hannifin
PH
$125B
| $1.8M | ﹤0.01% |
2,850
| – | – |
|
155
Coca-Cola
KO
$386B
| $1.77M | ﹤0.01% |
24,635
| – | – |
|
156
Honeywell
HON
$68.6B
| $1.66M | ﹤0.01% |
8,508
| – | – |
|
157
Vipshop
VIPS
$6.43B
| $1.6M | ﹤0.01% |
101,997
| – | – |
|
158
DuPont de Nemours
DD
$18.5B
| $1.57M | ﹤0.01% |
14,008
| – | – |
|
159
Unilever
UL
$140B
| $1.55M | ﹤0.01% |
21,244
| – | – |
|
160
Colgate-Palmolive
CL
$72.2B
| $1.45M | ﹤0.01% |
14,000
| – | – |
|
161
Las Vegas Sands
LVS
$29.3B
| $1.43M | ﹤0.01% |
28,400
| – | – |
|
162
Corteva
CTVA
$55.5B
| $1.39M | ﹤0.01% |
23,648
-2,000
| -8% | -$109K |
|
|
JOYY
163
JOYY Inc
JOYY
$3.65B
| $1.27M | ﹤0.01% |
34,966
| – | – |
|
164
3M
MMM
$89.8B
| $1.26M | ﹤0.01% |
9,224
| – | – |
|
165
APA Corp
APA
$14.9B
| $1.14M | ﹤0.01% |
46,700
-26,150
| -36% | -$734K |
|
166
Trip.com Group
TCOM
$28.4B
| $1.08M | ﹤0.01% |
18,100
-12,300
| -40% | -$569K |
|
167
Altria Group
MO
$114B
| $1.07M | ﹤0.01% |
21,000
| – | – |
|
168
eBay
EBAY
$47B
| $990K | ﹤0.01% |
15,210
-500
| -3% | -$28.8K |
|
169
Nucor
NUE
$56.9B
| $932K | ﹤0.01% |
6,200
| – | – |
|
170
Dow Inc
DOW
$22B
| $897K | ﹤0.01% |
16,422
-909
| -5% | -$48K |
|
171
PayPal
PYPL
$46.1B
| $890K | ﹤0.01% |
11,400
-2,700
| -19% | -$181K |
|
172
ACM Research
ACMR
$5.22B
| $873K | ﹤0.01% |
+43,000
| New | +$824K |
|
173
Mondelez International
MDLZ
$79B
| $872K | ﹤0.01% |
11,840
| – | – |
|
174
Ameriprise Financial
AMP
$49.4B
| $858K | ﹤0.01% |
1,827
| – | – |
|
175
General Mills
GIS
$22.2B
| $827K | ﹤0.01% |
11,200
| – | – |
|
Similar funds
Dodge & Cox's Q3 2024 Portfolio in Review
As of Q3 2024, Dodge & Cox held 206 positions worth $177B, up 6.1% from $167B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Trading was light in Q3 2024: portfolio turnover was 2.4%. Dodge & Cox opened 4 new positions and exited 1, leaving the 206-position portfolio largely intact.
By sector, the portfolio is most concentrated in Healthcare at 22% of assets, up from 21% a quarter earlier, followed by Financials and Industrials.
- Dodge & Cox's largest Q3 2024 buy was SBA Communications: 1,623,515 shares worth $391M.
- Dodge & Cox added most to Air Products & Chemicals in Q3 2024, an estimated $1.8B increase.
- Dodge & Cox's biggest Q3 2024 reduction was Truist Financial, cutting an estimated $1.09B.
- Dodge & Cox fully exited Alpha and Omega Semiconductor in Q3 2024, selling an estimated $1.89M.
- Dodge & Cox's ten largest holdings make up 28% of its $177B portfolio in Q3 2024.
- Dodge & Cox opened 4 new positions and closed 1 in Q3 2024.
- Dodge & Cox's portfolio value rose 6.1% quarter-over-quarter to $177B.
Based on Dodge & Cox's 13F filing for Q3 2024, filed 13 Nov 2024.