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 |
GSK
GSK
|
+$1.08B |
| 2 |
Comcast
CMCSA
|
+$656M |
| 3 |
Medtronic
MDT
|
+$492M |
| 4 |
JNPR
Juniper Networks
JNPR
|
+$436M |
| 5 |
Johnson Controls International
JCI
|
+$427M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walmart Inc
WMT
|
+$1.37B |
| 2 |
VMW
VMware, Inc
VMW
|
+$728M |
| 3 |
HP
HPQ
|
+$660M |
| 4 |
Bank of America
BAC
|
+$626M |
| 5 |
Goldman Sachs
GS
|
+$560M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.98% |
| 2 | Healthcare | 19.53% |
| 3 | Communication Services | 15.87% |
| 4 | Technology | 14.22% |
| 5 | Energy | 6.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Lowe's Companies
LOW
$113B
| $215K | ﹤0.01% |
+2,310
| New | +$191K |
|
|
AABA
177
DELISTED
Altaba Inc
AABA
| $210K | ﹤0.01% |
3,000
-1,500
| -33% | -$104K |
|
178
Equinix
EQIX
$102B
| – | – |
-554
| Closed | -$247K |
|
179
Fluor
FLR
$7.27B
| – | – |
-5,205
| Closed | -$219K |
|
|
WUBA
180
DELISTED
58.com Inc
WUBA
| – | – |
-651,800
| Closed | -$41.2M |
|
|
LVLT
181
DELISTED
Level 3 Communications Inc
LVLT
| – | – |
-4,278
| Closed | -$228K |
|
Similar funds
Dodge & Cox's Q4 2017 Portfolio in Review
As of Q4 2017, Dodge & Cox held 182 positions worth $129B, up 3.8% from $124B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Trading was light in Q4 2017: portfolio turnover was 3.3%. Dodge & Cox opened 2 new positions and exited 4, leaving the 182-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 24% a quarter earlier, followed by Healthcare and Communication Services.
- Dodge & Cox's largest Q4 2017 buy was Mattel: 26,067,900 shares worth $401M.
- Dodge & Cox added most to GSK in Q4 2017, an estimated $1.08B increase.
- Dodge & Cox's biggest Q4 2017 reduction was Walmart Inc, cutting an estimated $1.37B.
- Dodge & Cox fully exited 58.com Inc in Q4 2017, selling an estimated $41.2M.
- Dodge & Cox's ten largest holdings make up 30% of its $129B portfolio in Q4 2017.
- Dodge & Cox opened 2 new positions and closed 4 in Q4 2017.
- Dodge & Cox's portfolio value rose 3.8% quarter-over-quarter to $129B.
Based on Dodge & Cox's 13F filing for Q4 2017, filed 14 Feb 2018.