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 |
UnitedHealth
UNH
|
+$1.81B |
| 2 |
Regeneron Pharmaceuticals
REGN
|
+$838M |
| 3 |
Teledyne Technologies
TDY
|
+$723M |
| 4 |
AMRZ
Amrize Ltd
AMRZ
|
+$629M |
| 5 |
Comcast
CMCSA
|
+$590M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Williams Companies
WMB
|
+$1.48B |
| 2 |
Cisco
CSCO
|
+$1.3B |
| 3 |
GE Aerospace
GE
|
+$1.08B |
| 4 |
UBS Group
UBS
|
+$835M |
| 5 |
Capital One
COF
|
+$638M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 23.24% |
| 2 | Financials | 18.09% |
| 3 | Industrials | 12.75% |
| 4 | Technology | 11.73% |
| 5 | Communication Services | 11.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
JOYY
151
JOYY Inc
JOYY
$3.66B
| $2.53M | ﹤0.01% |
49,606
-2,860
| -5% | -$127K |
|
152
Abbott
ABT
$197B
| $2.36M | ﹤0.01% |
17,324
| – | – |
|
153
Honda
HMC
$40.8B
| $2.28M | ﹤0.01% |
78,950
-20,941,055
| -100% | -$611M |
|
154
ACM Research
ACMR
$5.51B
| $2.1M | ﹤0.01% |
81,092
+18,000
| +29% | +$405K |
|
155
Corning
GLW
$132B
| $2.1M | ﹤0.01% |
39,900
-700
| -2% | -$32.8K |
|
156
AbbVie
ABBV
$465B
| $1.94M | ﹤0.01% |
10,473
| – | – |
|
157
McDonald's
MCD
$189B
| $1.92M | ﹤0.01% |
6,573
| – | – |
|
158
Otis Worldwide
OTIS
$27.5B
| $1.91M | ﹤0.01% |
19,320
-2,390
| -11% | -$231K |
|
159
Vipshop
VIPS
$6.7B
| $1.87M | ﹤0.01% |
124,197
+5,400
| +5% | +$76.4K |
|
160
Honeywell
HON
$69.9B
| $1.87M | ﹤0.01% |
8,508
| – | – |
|
161
Hewlett Packard
HPE
$73.1B
| $1.81M | ﹤0.01% |
88,583
-35,300
| -28% | -$592K |
|
162
Parker-Hannifin
PH
$131B
| $1.75M | ﹤0.01% |
2,500
| – | – |
|
163
Coca-Cola
KO
$388B
| $1.74M | ﹤0.01% |
24,635
| – | – |
|
164
NextEra Energy
NEE
$176B
| $1.64M | ﹤0.01% |
23,600
| – | – |
|
165
Corteva
CTVA
$55.3B
| $1.56M | ﹤0.01% |
20,961
-341
| -2% | -$22.7K |
|
166
Unilever
UL
$140B
| $1.46M | ﹤0.01% |
21,244
| – | – |
|
167
3M
MMM
$92.8B
| $1.39M | ﹤0.01% |
9,146
-50
| -0.5% | -$7.15K |
|
168
Colgate-Palmolive
CL
$73.4B
| $1.27M | ﹤0.01% |
14,000
| – | – |
|
169
Altria Group
MO
$115B
| $1.23M | ﹤0.01% |
21,000
| – | – |
|
170
Las Vegas Sands
LVS
$29.9B
| $1.23M | ﹤0.01% |
28,186
+4,500
| +19% | +$175K |
|
171
Diageo
DEO
$52.1B
| $1.13M | ﹤0.01% |
11,197
-2,000
| -15% | -$217K |
|
172
Trip.com Group
TCOM
$28.4B
| $1.13M | ﹤0.01% |
19,250
+2,050
| +12% | +$123K |
|
173
DuPont de Nemours
DD
$18.6B
| $1.07M | ﹤0.01% |
12,389
-1,194
| -9% | -$99.2K |
|
174
Halliburton
HAL
$28.7B
| $1.05M | ﹤0.01% |
51,760
-21,900
| -30% | -$459K |
|
175
eBay
EBAY
$46.4B
| $1.05M | ﹤0.01% |
14,100
-600
| -4% | -$42.5K |
|
Similar funds
Dodge & Cox's Q2 2025 Portfolio in Review
As of Q2 2025, Dodge & Cox held 222 positions worth $178B, up 1.4% from $175B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Trading was light in Q2 2025: portfolio turnover was 5%. Dodge & Cox opened 8 new positions and exited 3, leaving the 222-position portfolio largely intact.
By sector, the portfolio is most concentrated in Healthcare at 23% of assets, down from 23% a quarter earlier, followed by Financials and Industrials.
- Dodge & Cox's largest Q2 2025 buy was Teledyne Technologies: 1,497,740 shares worth $767M.
- Dodge & Cox added most to UnitedHealth in Q2 2025, an estimated $1.81B increase.
- Dodge & Cox's biggest Q2 2025 reduction was Williams Companies, cutting an estimated $1.48B.
- Dodge & Cox fully exited iShares Russell 1000 Value ETF in Q2 2025, selling an estimated $3.22M.
- Dodge & Cox's ten largest holdings make up 29% of its $178B portfolio in Q2 2025.
- Dodge & Cox opened 8 new positions and closed 3 in Q2 2025.
- Dodge & Cox's portfolio value rose 1.4% quarter-over-quarter to $178B.
Based on Dodge & Cox's 13F filing for Q2 2025, filed 13 Aug 2025.