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 | |
|---|---|---|---|---|---|---|
176
Automatic Data Processing
ADP
$97.2B
| $210K | ﹤0.01% |
2,050
| – | – |
|
177
Baxter International
BAX
$11.2B
| $205K | ﹤0.01% |
+3,382
| New | +$192K |
|
178
Morgan Stanley
MS
$343B
| $201K | ﹤0.01% |
+4,500
| New | +$194K |
|
179
Citigroup
C
$222B
| – | – |
-3,950
| Closed | -$236K |
|
180
Honda
HMC
$37B
| – | – |
-5,241,155
| Closed | -$159M |
|
181
Xerox
XRX
$348M
| – | – |
-3,250
| Closed | -$95K |
|
|
YHOO
182
DELISTED
Yahoo Inc
YHOO
| – | – |
-5,500
| Closed | -$255K |
|
|
CSC
183
DELISTED
Computer Sciences
CSC
| – | – |
-38,200
| Closed | -$2.64M |
|
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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.