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 |
GE Aerospace
GE
|
+$1.44B |
| 2 |
PayPal
PYPL
|
+$664M |
| 3 |
Fidelity National Information Services
FIS
|
+$620M |
| 4 |
Elanco Animal Health
ELAN
|
+$488M |
| 5 |
SCHW
Charles Schwab
SCHW
|
+$469M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sanofi
SNY
|
+$797M |
| 2 |
HP
HPQ
|
+$688M |
| 3 |
Bristol-Myers Squibb
BMY
|
+$659M |
| 4 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$548M |
| 5 |
GSK
GSK
|
+$508M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.19% |
| 2 | Healthcare | 18.97% |
| 3 | Technology | 16.22% |
| 4 | Communication Services | 14.67% |
| 5 | Energy | 9.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Marriott Vacations Worldwide
VAC
$3.87B
| $232K | ﹤0.01% |
+2,000
| New | +$281K |
|
202
American Tower
AMT
$81.5B
| $230K | ﹤0.01% |
900
| – | – |
|
203
Baxter International
BAX
$13.4B
| $217K | ﹤0.01% |
3,382
| – | – |
|
|
ATCO
204
DELISTED
Atlas Corp.
ATCO
| $214K | ﹤0.01% |
+20,000
| New | +$251K |
|
205
Petrobras
PBR
$118B
| $165K | ﹤0.01% |
14,100
-1,700
| -11% | -$23.5K |
|
206
SLR Investment Corp
SLRC
$682M
| $146K | ﹤0.01% |
+10,000
| New | +$161K |
|
207
Ericsson
ERIC
$32.9B
| $131K | ﹤0.01% |
17,700
-11,900
| -40% | -$97.2K |
|
208
Macerich
MAC
$6.88B
| $131K | ﹤0.01% |
+15,000
| New | +$181K |
|
|
LTRPA
209
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
| $129K | ﹤0.01% |
+170,000
| New | +$219K |
|
210
Cintas
CTAS
$82.4B
| – | – |
-2,000
| Closed | -$213K |
|
211
Dominion Energy
D
$58.3B
| – | – |
-2,712
| Closed | -$230K |
|
212
Duke Energy
DUK
$94.4B
| – | – |
-1,833
| Closed | -$205K |
|
213
Intuitive Surgical
ISRG
$130B
| – | – |
-747
| Closed | -$225K |
|
214
iShares Russell 1000 Value ETF
IWD
$84.2B
| – | – |
-50,300
| Closed | -$8.35M |
|
215
Lowe's Companies
LOW
$116B
| – | – |
-1,000
| Closed | -$202K |
|
216
Organon & Co
OGN
$3.62B
| – | – |
-5,854
| Closed | -$204K |
|
217
Stryker
SYK
$124B
| – | – |
-960
| Closed | -$257K |
|
Similar funds
Dodge & Cox's Q2 2022 Portfolio in Review
As of Q2 2022, Dodge & Cox held 219 positions worth $144B, down 12% from $165B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Dodge & Cox's Q2 2022 filing shows 22 new, 48 increased, 96 reduced and 8 closed positions. Its largest new stake was Fidelity National Information Services: 6,245,114 shares worth $572M. The largest sale was Sanofi, an estimated $797M.
By sector, the portfolio is most concentrated in Financials at 22% of assets, down from 23% a quarter earlier, followed by Healthcare and Technology.
- Dodge & Cox's largest Q2 2022 buy was Fidelity National Information Services: 6,245,114 shares worth $572M.
- Dodge & Cox added most to GE Aerospace in Q2 2022, an estimated $1.44B increase.
- Dodge & Cox's biggest Q2 2022 reduction was Sanofi, cutting an estimated $797M.
- Dodge & Cox fully exited iShares Russell 1000 Value ETF in Q2 2022, selling an estimated $8.35M.
- Dodge & Cox's ten largest holdings make up 30% of its $144B portfolio in Q2 2022.
- Dodge & Cox opened 22 new positions and closed 8 in Q2 2022.
- Dodge & Cox's portfolio value fell 12% quarter-over-quarter to $144B.
Based on Dodge & Cox's 13F filing for Q2 2022, filed 12 Aug 2022.