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 |
Humana
HUM
|
+$1.41B |
| 2 |
SBA Communications
SBAC
|
+$1.29B |
| 3 |
Avantor
AVTR
|
+$691M |
| 4 |
Celanese
CE
|
+$655M |
| 5 |
Fortive
FTV
|
+$592M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$1.19B |
| 2 |
Truist Financial
TFC
|
+$1.15B |
| 3 |
Wells Fargo
WFC
|
+$1.13B |
| 4 |
Bank of America
BAC
|
+$974M |
| 5 |
Goldman Sachs
GS
|
+$842M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 21.28% |
| 2 | Financials | 18.77% |
| 3 | Industrials | 12.45% |
| 4 | Technology | 12.31% |
| 5 | Communication Services | 11.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
eBay
EBAY
$45.5B
| $911K | ﹤0.01% |
14,700
-510
| -3% | -$32.4K |
|
177
Live Nation Entertainment
LYV
$42.1B
| $907K | ﹤0.01% |
+7,000
| New | +$881K |
|
178
ACM Research
ACMR
$5.61B
| $809K | ﹤0.01% |
53,592
+10,592
| +25% | +$191K |
|
179
Arcos Dorados Holdings
ARCO
$1.67B
| $772K | ﹤0.01% |
+106,000
| New | +$909K |
|
180
Blackrock
BLK
$181B
| $769K | ﹤0.01% |
750
| – | – |
|
181
Intercorp Financial Services
IFS
$6B
| $759K | ﹤0.01% |
25,869
| – | – |
|
182
Moody's
MCO
$88.2B
| $741K | ﹤0.01% |
1,566
| – | – |
|
183
Nucor
NUE
$57.3B
| $724K | ﹤0.01% |
6,200
| – | – |
|
184
General Mills
GIS
$21.6B
| $714K | ﹤0.01% |
11,200
| – | – |
|
185
Mondelez International
MDLZ
$79.7B
| $707K | ﹤0.01% |
11,840
| – | – |
|
186
Dow Inc
DOW
$21.9B
| $655K | ﹤0.01% |
16,322
-100
| -0.6% | -$4.67K |
|
187
Copa Holdings
CPA
$5.36B
| $646K | ﹤0.01% |
7,350
| – | – |
|
188
Kaspi.kz JSC
KSPI
$20B
| $609K | ﹤0.01% |
6,426
+900
| +16% | +$96.2K |
|
189
Genuine Parts
GPC
$18.8B
| $545K | ﹤0.01% |
4,665
-10
| -0.2% | -$1.25K |
|
190
MGM Resorts International
MGM
$10.8B
| $537K | ﹤0.01% |
+15,500
| New | +$586K |
|
191
dLocal
DLO
$4.46B
| $506K | ﹤0.01% |
44,900
| – | – |
|
192
Allstate
ALL
$65.1B
| $505K | ﹤0.01% |
2,618
| – | – |
|
193
Afya
AFYA
$1.27B
| $496K | ﹤0.01% |
31,262
+2,079
| +7% | +$34.2K |
|
194
PepsiCo
PEP
$191B
| $468K | ﹤0.01% |
3,075
| – | – |
|
195
Grupo Aeroportuario del Sureste
ASR
$7.8B
| $464K | ﹤0.01% |
+1,800
| New | +$483K |
|
196
Elevance Health
ELV
$86.6B
| $406K | ﹤0.01% |
1,100
| – | – |
|
197
Ambev
ABEV
$44.4B
| $381K | ﹤0.01% |
+206,200
| New | +$456K |
|
198
Lockheed Martin
LMT
$131B
| $377K | ﹤0.01% |
775
| – | – |
|
|
LOMA
199
Loma Negra
LOMA
$1.13B
| $369K | ﹤0.01% |
30,900
+100
| +0.3% | +$1.04K |
|
200
Cintas
CTAS
$81.7B
| $365K | ﹤0.01% |
2,000
| – | – |
|
Similar funds
Dodge & Cox's Q4 2024 Portfolio in Review
As of Q4 2024, Dodge & Cox held 216 positions worth $172B, down 2.8% from $177B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Dodge & Cox's Q4 2024 filing shows 11 new, 45 increased, 101 reduced and 2 closed positions. Its largest new stake was Fortive: 10,323,937 shares worth $583M. The largest sale was Alphabet (Google) Class C, an estimated $1.19B.
By sector, the portfolio is most concentrated in Healthcare at 21% of assets, down from 22% a quarter earlier, followed by Financials and Industrials.
- Dodge & Cox's largest Q4 2024 buy was Fortive: 10,323,937 shares worth $583M.
- Dodge & Cox added most to Humana in Q4 2024, an estimated $1.41B increase.
- Dodge & Cox's biggest Q4 2024 reduction was Alphabet (Google) Class C, cutting an estimated $1.19B.
- Dodge & Cox fully exited KE Holdings in Q4 2024, selling an estimated $367K.
- Dodge & Cox's ten largest holdings make up 29% of its $172B portfolio in Q4 2024.
- Dodge & Cox opened 11 new positions and closed 2 in Q4 2024.
- Dodge & Cox's portfolio value fell 2.8% quarter-over-quarter to $172B.
Based on Dodge & Cox's 13F filing for Q4 2024, filed 13 Feb 2025.