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 |
T-Mobile US
TMUS
|
+$1.27B |
| 2 |
FISV
Fiserv Inc
FISV
|
+$1,000M |
| 3 |
Honda
HMC
|
+$931M |
| 4 |
Incyte
INCY
|
+$774M |
| 5 |
Gilead Sciences
GILD
|
+$701M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Capital One
COF
|
+$1.06B |
| 2 |
Hewlett Packard
HPE
|
+$654M |
| 3 |
APA Corp
APA
|
+$415M |
| 4 |
Johnson Controls International
JCI
|
+$345M |
| 5 |
Goldman Sachs
GS
|
+$279M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.9% |
| 2 | Technology | 17.61% |
| 3 | Communication Services | 15.85% |
| 4 | Healthcare | 15.64% |
| 5 | Energy | 9.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Trip.com Group
TCOM
$28.1B
| $319K | ﹤0.01% |
+9,000
| New | +$343K |
|
177
Dominion Energy
D
$58.5B
| $310K | ﹤0.01% |
4,212
-300
| -7% | -$23.2K |
|
178
Equinix
EQIX
$106B
| $309K | ﹤0.01% |
385
| – | – |
|
179
Phillips 66
PSX
$95.7B
| $309K | ﹤0.01% |
3,600
| – | – |
|
180
Verizon
VZ
$205B
| $308K | ﹤0.01% |
5,500
| – | – |
|
181
Baxter International
BAX
$13.4B
| $304K | ﹤0.01% |
3,782
+400
| +12% | +$33.5K |
|
182
American Tower
AMT
$81.2B
| $297K | ﹤0.01% |
1,100
-195
| -15% | -$49.7K |
|
183
Lockheed Martin
LMT
$131B
| $293K | ﹤0.01% |
775
-60
| -7% | -$23.1K |
|
184
Yum China
YUMC
$15.3B
| $265K | ﹤0.01% |
+4,000
| New | +$255K |
|
185
Stryker
SYK
$124B
| $249K | ﹤0.01% |
960
| – | – |
|
|
JOYY
186
JOYY Inc
JOYY
$3.66B
| $231K | ﹤0.01% |
+3,500
| New | +$297K |
|
187
Intuitive Surgical
ISRG
$130B
| $229K | ﹤0.01% |
+747
| New | +$210K |
|
188
Petrobras
PBR
$118B
| $183K | ﹤0.01% |
+15,000
| New | +$147K |
|
|
LOMA
189
Loma Negra
LOMA
$1.13B
| $112K | ﹤0.01% |
+16,400
| New | +$106K |
|
190
Transportadora de Gas del Sur
TGS
$4.3B
| $63K | ﹤0.01% |
+13,700
| New | +$65.4K |
|
191
Automatic Data Processing
ADP
$113B
| – | – |
-1,179
| Closed | -$222K |
|
192
New Oriental
EDU
$9.22B
| – | – |
-1,360
| Closed | -$190K |
|
193
Lowe's Companies
LOW
$116B
| – | – |
-1,500
| Closed | -$285K |
|
194
Mattel
MAT
$4.26B
| – | – |
-37,000
| Closed | -$737K |
|
195
State Street SPDR S&P 500 ETF Trust
SPY
$827B
| – | – |
-3,000
| Closed | -$1.19M |
|
196
Viatris
VTRS
$19.4B
| – | – |
-13,918
| Closed | -$194K |
|
|
CS
197
DELISTED
Credit Suisse Group
CS
| – | – |
-95,051
| Closed | -$1.01M |
|
Similar funds
Dodge & Cox's Q2 2021 Portfolio in Review
As of Q2 2021, Dodge & Cox held 197 positions worth $153B, up 9.3% from $140B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Dodge & Cox's Q2 2021 filing shows 11 new, 39 increased, 108 reduced and 7 closed positions. Its largest new stake was Organon & Co: 22,698 shares worth $686K. The largest sale was Capital One, an estimated $1.06B.
By sector, the portfolio is most concentrated in Financials at 25% of assets, down from 26% a quarter earlier, followed by Technology and Communication Services.
- Dodge & Cox's largest Q2 2021 buy was Organon & Co: 22,698 shares worth $686K.
- Dodge & Cox added most to T-Mobile US in Q2 2021, an estimated $1.27B increase.
- Dodge & Cox's biggest Q2 2021 reduction was Capital One, cutting an estimated $1.06B.
- Dodge & Cox fully exited State Street SPDR S&P 500 ETF Trust in Q2 2021, selling an estimated $1.19M.
- Dodge & Cox's ten largest holdings make up 31% of its $153B portfolio in Q2 2021.
- Dodge & Cox opened 11 new positions and closed 7 in Q2 2021.
- Dodge & Cox's portfolio value rose 9.3% quarter-over-quarter to $153B.
Based on Dodge & Cox's 13F filing for Q2 2021, filed 13 Aug 2021.