1 files changed, 3 insertions, 3 deletions

diff --git a/lisp/files.el b/lisp/files.el
index 8edf13a5c4d..70e42d81bec 100644
--- a/lisp/files.el
+++ b/lisp/files.el
@@ -257,9 +257,9 @@ Not actually set up until the first time you you use it.")
          (while (setq cd-colon (string-match ":" cd-path cd-start))
            (setq cd-list
                  (nconc cd-list
-                        (list (substitute-in-file-name
-                               (if (= cd-start cd-colon)
-                                   "."
+                        (list (if (= cd-start cd-colon)
+                                   nil
+                                (substitute-in-file-name
                                  (file-name-as-directory
                                   (substring cd-path cd-start cd-colon)))))))
            (setq cd-start (+ cd-colon 1)))