Dodge & Cox

Q4 2016 13F

As of: Dec 31, 2016
Filed: Mar 20, 2017
US stock: $112.5B · prev $106.4B
Positions: 181 · prev 176
Options notional: $0
Documents: 1· 1 amendment

Picture99.4% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 99.4%
Foreign stock not listed in the US 0.6%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves142 since the prior filing

+3.1 pp in · −3.2 pp out

New 7 +0.61 pp
Added 24 +2.54 pp
Trimmed 109 −3.17 pp
Exited 2 0.00 pp

The book

Diversified · behaves like 49 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 16% a year, about 6.4 years per position

Low
Moderate
High

Top 5 positions19% of US stock

Revealed late, restated

restated 64 rows corrected by the filer · US stock −0.05%; later quarters recomputed 13F-HR/A · Mar 20, 2017 ↗

Positions181 in this filing · 2 exited


HPEHewlett Packard Enterprise Company	4.29%	208,800,172	$4.8B	trimmed−1%	−0.23 pp	5 q
BACBank of America Corporation	3.70%	188,215,841	$4.2B	trimmed−18%	+0.34 pp	15 q
SLBSLB Limited	3.51%	47,101,905	$4.0B	trimmed−6%	−0.18 pp	15 q
COFCapital One Financial	3.50%	45,211,452	$3.9B	trimmed−8%	+0.17 pp	15 q
WFCWells Fargo & Co.	3.50%	71,531,836	$3.9B	added+6%	+0.70 pp	15 q
SCHWThe Charles Schwab Corporation	3.39%	96,623,574	$3.8B	trimmed−5%	+0.37 pp	15 q
GSGoldman Sachs Group Inc.	3.02%	14,197,206	$3.4B	trimmed−7%	+0.70 pp	15 q
NVSNovartis AG	2.96%	45,718,521	$3.3B	added+5%	−0.27 pp	15 q
TWXTime Warner Inc	2.78%	32,371,604	$3.1B	trimmed−12%	+0.04 pp	15 q
CHTRCharter Comm Inc Del CL A New	2.65%	10,356,503	$3.0B	trimmed−5%	−0.11 pp	3 q
SNYSanofi	2.46%	68,508,540	$2.8B	added+16%	+0.33 pp	15 q
MSFTMicrosoft Corp	2.36%	42,782,491	$2.7B	trimmed−4%	−0.05 pp	15 q
CMCSAComcast Corp	2.35%	38,288,845	$2.6B	trimmed−7%	−0.22 pp	15 q
GOOGAlphabet Inc. Class C	2.12%	3,093,341	$2.4B	trimmed−1%	−0.16 pp	11 q
BNYBank of New York Mellon Corporation	2.09%	49,656,019	$2.4B	trimmed−12%	−0.03 pp	15 q
JPMJPMorgan Chase & Co.	2.04%	26,626,679	$2.3B	trimmed−7%	+0.26 pp	15 q
METMetLife, Inc.	1.97%	41,061,674	$2.2B	added0%	+0.26 pp	15 q
FDXFedEx Corporation	1.91%	11,554,400	$2.2B	trimmed−4%	−0.06 pp	15 q
AXPAmerican Express Company	1.89%	28,734,700	$2.1B	trimmed−2%	+0.13 pp	15 q
HPQHP Inc.	1.84%	139,701,057	$2.1B	trimmed−17%	−0.63 pp	5 q
CSCOCisco Systems, Inc. (DE)	1.73%	64,557,751	$2.0B	trimmed−3%	−0.26 pp	10 q
unresolvedTwenty First Centy Fox Inc	1.72%	68,919,041	$1.9B	trimmed−0%	+0.15 pp	15 q
unresolvedCigna Corporation	1.71%	14,465,358	$1.9B	added0%	−0.06 pp	15 q
0VQJLTe Connectivity Ltd	1.70%	27,613,637	$1.9B	trimmed−2%	0.00 pp	15 q
9990302DApache Corp	1.63%	28,896,095	$1.8B	trimmed−1%	−0.12 pp	15 q
unresolvedBaker Hughes Inc.	1.48%	25,667,163	$1.7B	trimmed−23%	−0.10 pp	15 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.47%	10,363,411	$1.7B	trimmed−24%	−0.33 pp	15 q
APCAnadarko Petroleum Corp	1.42%	22,896,996	$1.6B	trimmed−0%	+0.05 pp	15 q
WMTWalmart Inc.	1.34%	21,758,126	$1.5B	trimmed−5%	−0.21 pp	15 q
unresolvedSprint Corporation	1.33%	177,793,606	$1.5B	trimmed−2%	+0.20 pp	14 q
unresolvedExpress Scripts Hldg Co	1.29%	21,178,220	$1.5B	trimmed−1%	−0.13 pp	13 q
UNPUnion Pacific Corp.	1.29%	14,011,665	$1.5B	trimmed−3%	−0.03 pp	15 q
AZNNAstrazeneca Plc-spons ADR	1.20%	49,613,588	$1.4B	added+18%	−0.10 pp	5 q
BMYBristol-Myers Squibb Co.	1.17%	22,532,761	$1.3B	added×313.1	+1.17 pp	15 q
JCIJohnson Controls International plc	1.16%	31,824,707	$1.3B	trimmed−4%	−0.28 pp	2 q
NOVNOV Inc.	1.04%	31,293,984	$1.2B	trimmed−1%	−0.05 pp	12 q
unresolvedPriceline Grp Inc	1.04%	800,206	$1.2B	trimmed−1%	−0.08 pp	7 q
PBR.APetroleo Brasileiro S.A.-Petrobras	0.97%	123,659,203	$1.1B	trimmed−2%	−0.01 pp	15 q
CECelanese Corporation	0.93%	13,312,828	$1.0B	trimmed−2%	+0.08 pp	15 q
JDJD.com, Inc.	0.93%	41,336,936	$1.1B	trimmed−6%	−0.15 pp	5 q
BBTTruist Financial Corporation	0.89%	21,202,567	$997M	trimmed−12%	+0.04 pp	15 q
DISHDISH Network Corp.	0.84%	16,265,180	$942M	added+16%	+0.12 pp	15 q
BIDUBaidu, Inc.	0.83%	5,675,987	$933M	added+1%	−0.13 pp	15 q
LBTYKLiberty Global Ltd. Class C	0.76%	28,759,447	$854M	added+7%	−0.08 pp	15 q
MRKMerck & Co., Inc.	0.73%	13,947,142	$821M	trimmed−24%	−0.34 pp	15 q
NTAPNetApp, Inc	0.72%	23,029,321	$812M	trimmed−31%	−0.41 pp	15 q
TGTTarget Corporation	0.70%	10,912,881	$788M	trimmed−5%	−0.04 pp	15 q
TVGrupo Televisa S.A.	0.68%	36,470,992	$762M	added+11%	−0.11 pp	15 q
MDTMedtronic plc	0.68%	10,688,625	$761M	added+91%	+0.23 pp	8 q
GLWCorning Incorporated	0.67%	31,284,689	$759M	trimmed−14%	−0.14 pp	15 q
MXIMMaxim Integrated Products	0.66%	19,147,741	$739M	trimmed−1%	−0.07 pp	15 q
VMWVMware, Inc	0.66%	9,474,478	$746M	trimmed−19%	−0.14 pp	5 q
CXOConcho Resources Inc.	0.65%	5,539,159	$734M	trimmed−0%	−0.07 pp	6 q
unresolvedDell Technologies Inc	0.64%	13,098,825	$720M	added+21%	+0.15 pp	2 q
SUSuncor Energy, Inc.	0.61%	20,844,300	$681M	added+1%	+0.07 pp	2 q
SNPSSynopsys Inc	0.60%	11,520,675	$678M	trimmed−8%	−0.10 pp	15 q
unresolvedUBS Group AG	0.60%	43,113,727	$675M	trimmed−7%	+0.01 pp	5 q
unresolvedAegon NV	0.53%	108,581,654	$600M	trimmed−3%	+0.13 pp	15 q
unresolvedCoach Inc	0.47%	15,192,276	$532M	trimmed−2%	−0.06 pp	15 q
HOGHarley-Davidson, Inc.	0.46%	8,875,523	$518M	trimmed−2%	+0.01 pp	6 q
LBTYALiberty Global Ltd. Class A	0.44%	16,146,387	$494M	added+1%	−0.07 pp	15 q
ZAYOZayo Group Holdings, Inc.	0.43%	14,566,252	$479M	new	+0.43 pp	new
unresolvedAgrium Inc.	0.40%	4,432,226	$446M	added+66%	+0.17 pp	6 q
ELVElevance Health, Inc.	0.38%	3,005,018	$432M	trimmed−3%	+0.01 pp	9 q
0WEWeatherford International plc	0.37%	83,371,421	$416M	added0%	−0.07 pp	10 q
DHRDanaher Corporation	0.36%	5,221,273	$406M	trimmed−9%	−0.06 pp	10 q
unresolvedLiberty Interactive Corp	0.35%	19,977,880	$399M	trimmed−1%	−0.03 pp	15 q
CXCemex S.A.B. de C.V.	0.34%	48,246,094	$387M	added+36%	+0.07 pp	15 q
unresolvedTwenty First Centy Fox Inc	0.34%	14,121,160	$385M	added0%	+0.01 pp	6 q
ALNYAlnylam Pharmaceuticals, Inc.	0.31%	9,204,950	$345M	added+74%	−0.03 pp	3 q
RDS.ARoyal Dutch Shell PLC	0.30%	6,148,368	$334M	trimmed−33%	−0.13 pp	15 q
GOOGLAlphabet Inc. Class A	0.23%	329,282	$261M	trimmed−8%	−0.04 pp	5 q
ADNTAdient plc	0.17%	3,293,621	$193M	new	+0.17 pp	new
JNPJuniper Networks Inc	0.16%	6,366,036	$180M	added×3.6	+0.12 pp	9 q
SYMCGen Digital Inc.	0.16%	7,541,004	$180M	trimmed−81%	−0.76 pp	15 q
HMCHonda Motor Co., Ltd.	0.15%	5,741,155	$168M	trimmed−0%	−0.01 pp	15 q
1LGEUSDLiberty Global PLC Lilac - C	0.12%	6,544,191	$139M	added+68%	+0.02 pp	6 q
99998USDLiberty Global PLC Lilac - A	0.10%	4,980,987	$109M	added+97%	+0.03 pp	6 q
NWSANews Corporation Class A	0.08%	7,392,557	$85M	trimmed−2%	−0.02 pp	14 q
CVXChevron Corporation	0.05%	490,736	$58M	trimmed−4%	0.00 pp	15 q
ITUBItau Unibanco Holding S.A.	0.05%	5,944,516	$61M	added+33%	+0.01 pp	2 q
unresolvedGeneral Electric Co	0.04%	1,468,804	$46M	trimmed−6%	0.00 pp	15 q
unresolvedSunTrust Banks Inc	0.03%	521,690	$29M	trimmed−4%	+0.01 pp	15 q
ADBEAdobe Inc.	0.02%	184,712	$19M	trimmed−10%	0.00 pp	15 q
CDNSCadence Design Systems	0.02%	1,100,309	$28M	trimmed−6%	−0.01 pp	15 q
unresolvedDow Chemical Co	0.02%	381,702	$22M	trimmed−7%	0.00 pp	15 q
PFEPfizer Inc.	0.02%	746,972	$24M	trimmed−3%	0.00 pp	15 q
TRVThe Travelers Companies, Inc.	0.02%	191,269	$23M	trimmed−2%	0.00 pp	15 q
AMGNAmgen Inc	0.01%	39,207	$6M	trimmed−2%	0.00 pp	15 q
BSXBoston Scientific Corp.	0.01%	371,671	$8M	trimmed−3%	0.00 pp	15 q
unresolvedCredit Suisse Group Spon ADR	0.01%	943,132	$13M	trimmed−22%	0.00 pp	15 q
DEODiageo plc	0.01%	71,674	$7M	trimmed−3%	0.00 pp	15 q
DISThe Walt Disney Company	0.01%	61,756	$6M	trimmed−8%	0.00 pp	15 q
EBAYeBay Inc	0.01%	426,665	$13M	trimmed−17%	−0.01 pp	15 q
ERICEricsson	0.01%	1,969,198	$11M	trimmed−17%	−0.01 pp	15 q
XOMExxon Mobil Corp	0.01%	137,771	$12M	trimmed−2%	0.00 pp	15 q
HDHome Depot, Inc.	0.01%	85,065	$11M	trimmed−1%	0.00 pp	15 q
IBNICICI Bank Limited	0.01%	1,925,300	$14M	new	+0.01 pp	new
IBMInternational Business Machines Corporation	0.01%	98,746	$16M	trimmed−0%	0.00 pp	15 q
OXYOccidental Petroleum Corporation	0.01%	176,787	$13M	trimmed−7%	0.00 pp	15 q
PYPLPayPal Holdings, Inc.	0.01%	198,020	$8M	trimmed−8%	0.00 pp	6 q
PGProcter & Gamble Company	0.01%	149,694	$13M	trimmed−1%	0.00 pp	15 q
TMOThermo Fisher Scientific, Inc.	0.01%	50,002	$7M	trimmed−26%	0.00 pp	15 q
USBU.S. Bancorp	0.01%	150,834	$8M	trimmed−2%	0.00 pp	15 q
VMCVulcan Materials Company(Holding Company)	0.01%	86,035	$11M	trimmed−14%	0.00 pp	15 q
ABTAbbott Laboratories	0.00%	29,268	$1M	held	—	15 q
ABBVAbbvie Inc.	0.00%	33,232	$2M	held	—	15 q
APDAir Products & Chemicals, Inc.	0.00%	6,200	$892,000	trimmed−1%	0.00 pp	15 q
ALLThe Allstate Corporation	0.00%	3,796	$281,000	held	—	15 q
MOAltria Group, Inc.	0.00%	23,800	$2M	held	—	15 q
AMZNAmazon.Com Inc	0.00%	1,005	$754,000	trimmed−5%	0.00 pp	10 q
AMXNAmerica Movil-spn ADR Cl L	0.00%	275,500	$3M	new	0.00 pp	new
AMPAmeriprise Financial, Inc.	0.00%	3,182	$353,000	held	—	15 q
AAPLApple Inc.	0.00%	14,893	$2M	trimmed−42%	0.00 pp	15 q
ADPAutomatic Data Processing	0.00%	2,050	$211,000	new	0.00 pp	new
BDXBecton, Dickinson and Co.	0.00%	13,830	$2M	held	—	15 q
BRK.ABerkshire Hathaway Inc.	0.00%	3	$732,000	held	—	15 q
BRK.BBERKSHIRE HATHAWAY Class B	0.00%	17,789	$3M	held	—	15 q
unresolvedCsra Inc	0.00%	42,100	$1M	trimmed−3%	0.00 pp	5 q
KMXCarMax Inc.	0.00%	61,477	$4M	trimmed−4%	0.00 pp	15 q
CATCaterpillar Inc.	0.00%	57,004	$5M	trimmed−1%	0.00 pp	15 q
CCitigroup Inc.	0.00%	4,450	$264,000	trimmed−18%	0.00 pp	10 q
CTXSCitrix Systems Inc	0.00%	8,026	$717,000	trimmed−2%	0.00 pp	15 q
KOCoca-Cola Company	0.00%	34,242	$1M	held	—	15 q
CLColgate-Palmolive Company	0.00%	14,000	$916,000	held	—	15 q
unresolvedComputer Sciences Corp	0.00%	39,000	$2M	trimmed−4%	0.00 pp	15 q
COPConocoPhillips	0.00%	25,288	$1M	trimmed−6%	0.00 pp	15 q
DEDeere & Company	0.00%	25,993	$3M	trimmed−3%	0.00 pp	15 q
DDominion Energy, Inc	0.00%	4,712	$361,000	trimmed−6%	0.00 pp	15 q
UFSDOMTAR CORPORATION (New)	0.00%	6,200	$242,000	held	—	15 q
unresolvedDu Pont E I De Nemours & Co	0.00%	30,816	$2M	trimmed−2%	0.00 pp	15 q
DUKDuke Energy Corporation	0.00%	12,979	$1M	held	—	15 q
unresolvedDun & Bradstreet Corp/The	0.00%	5,425	$658,000	held	—	15 q
EQIXEquinix, Inc.	0.00%	754	$269,000	trimmed−17%	0.00 pp	8 q
FLRFluor Corporation	0.00%	7,195	$378,000	held	—	15 q
GISGeneral Mills, Inc.	0.00%	11,200	$692,000	held	—	15 q
GPCGenuine Parts Company	0.00%	21,962	$2M	held	—	15 q
GILDGilead Sciences Inc	0.00%	3,250	$233,000	trimmed−13%	0.00 pp	10 q
unresolvedGlaxosmithkline PLC	0.00%	36,762	$1M	trimmed−12%	0.00 pp	15 q
HALHalliburton Company	0.00%	9,200	$498,000	held	—	15 q
HESHess Corporation	0.00%	4,106	$256,000	held	—	15 q
HONHoneywell International, Inc.	0.00%	7,531	$872,000	held	—	15 q
JNJJohnson & Johnson	0.00%	34,185	$4M	trimmed−2%	0.00 pp	15 q
KMBKimberly-Clark Corp.	0.00%	4,023	$459,000	held	—	15 q
PHGKoninklijke Philips N.v.	0.00%	23,850	$729,000	trimmed−19%	0.00 pp	15 q
KHCThe Kraft Heinz Company	0.00%	3,946	$345,000	held	—	6 q
unresolvedLevel 3 Communications Inc	0.00%	4,778	$269,000	held	—	10 q
LEXEALiberty Expedia Holdings, Inc. Class A	0.00%	7,761	$308,000	new	0.00 pp	new
unresolvedLiberty Ventures	0.00%	11,642	$429,000	new	0.00 pp	new
LLYEli Lilly & Co.	0.00%	28,597	$2M	trimmed−3%	0.00 pp	15 q
LOWLowe's Companies Inc.	0.00%	3,910	$278,000	trimmed−20%	0.00 pp	10 q
MMacy's Inc.	0.00%	10,000	$358,000	held	—	15 q
MRSHMarsh	0.00%	3,860	$261,000	trimmed−28%	0.00 pp	10 q
MCDMcDonald's Corporation	0.00%	24,656	$3M	held	—	15 q
MDLZMondelez International, Inc. Class A	0.00%	11,840	$525,000	held	—	15 q
MCOMoody's Corporation	0.00%	3,300	$311,000	held	—	15 q
MSMorgan Stanley	0.00%	5,500	$232,000	trimmed−13%	0.00 pp	2 q
MSIMotorola Solutions, Inc. New	0.00%	66,596	$6M	held	—	15 q
NEENextEra Energy, Inc.	0.00%	9,746	$1M	trimmed−3%	0.00 pp	15 q
NSCNorfolk Southern Corp.	0.00%	5,397	$583,000	trimmed−2%	0.00 pp	15 q
NUENucor Corporation	0.00%	72,400	$4M	held	—	15 q
PNCPNC Financial Services Group	0.00%	20,800	$2M	held	—	15 q
PPGPPG Industries, Inc.	0.00%	18,000	$2M	held	—	15 q
PHParker-Hannifin Corporation	0.00%	4,618	$647,000	held	—	15 q
PEPPepsiCo, Inc.	0.00%	5,245	$549,000	held	—	15 q
PMPhilip Morris International Inc.	0.00%	19,900	$2M	held	—	15 q
PSXPhillips 66	0.00%	6,977	$603,000	trimmed−9%	0.00 pp	15 q
QCOMQualcomm Inc	0.00%	5,430	$354,000	held	—	10 q
RIORio Tinto plc	0.00%	15,000	$577,000	held	—	15 q
SPGIS&P Global Inc.	0.00%	17,062	$2M	trimmed−6%	0.00 pp	3 q
STTState Street Corporation	0.00%	4,900	$381,000	held	—	15 q
MMM3M Company	0.00%	21,936	$4M	trimmed−3%	0.00 pp	15 q
unresolvedUnilever Spn.Adr 1:1	0.00%	33,500	$1M	trimmed−45%	0.00 pp	15 q
UNUnilever N V -ny Shares	0.00%	57,076	$2M	trimmed−5%	0.00 pp	15 q
UTXZRTX Corporation	0.00%	2,321	$254,000	held	—	3 q
VZVerizon Communications	0.00%	5,500	$294,000	held	—	15 q
VVISA Inc.	0.00%	7,580	$591,000	trimmed−17%	0.00 pp	10 q
WBAWalgreens Boots Alliance, Inc	0.00%	8,079	$669,000	trimmed−6%	0.00 pp	9 q
unresolvedXerox Corp	0.00%	17,000	$148,000	held	—	15 q
unresolvedYahoo Inc	0.00%	5,500	$213,000	held	—	10 q
CBChubb Limited	0.00%	15,418	$2M	held	—	4 q
HIGThe Hartford Insurance Group, Inc.	—	−5,140	—	exited	0.00 pp	—
unresolvedLiberty Interactive Corp	—	−19,837	—	exited	0.00 pp	—

Source

Form: 13F-HR/A
Reading: 2 defects · 27 unresolved
Accession: 0000950123-17-002956
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

A security outside the official 13F list — CUSIP DC1006725 not on the Official 13(f) List for 2016-12-31
A security outside the official 13F list — CUSIP DC1006725 not on the Official 13(f) List for 2016-12-31

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