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 |
Gen Digital
GEN
|
+$395M |
| 2 |
UnitedHealth
UNH
|
+$368M |
| 3 |
ESRX
Express Scripts Holding Company
ESRX
|
+$366M |
| 4 |
WFT
Weatherford International plc
WFT
|
+$342M |
| 5 |
eBay
EBAY
|
+$331M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MOLXA
MOLEX INC CL-A
MOLXA
|
+$680M |
| 2 |
Amdocs
DOX
|
+$501M |
| 3 |
DuPont de Nemours
DD
|
+$468M |
| 4 |
FedEx
FDX
|
+$443M |
| 5 |
Genworth Financial
GNW
|
+$414M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.99% |
| 2 | Technology | 20.48% |
| 3 | Healthcare | 18.33% |
| 4 | Communication Services | 15.59% |
| 5 | Energy | 10.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
BHI
26
DELISTED
Baker Hughes
BHI
| $1.26B | 1.32% |
22,878,609
-1,400,150
| -6% | -$76.7M |
2013 Q2
2 quarters
|
|
27
Nokia
NOK
$56.3B
| $1.25B | 1.3% |
153,941,671
-15,953,050
| -9% | -$120M |
2013 Q2
2 quarters
|
|
|
TYC
28
DELISTED
TYCO INTL PLC COM SHS (IRL)
TYC
| $1.19B | 1.24% |
27,776,696
+254,082
| +0.9% | +$9.88M |
2013 Q2
2 quarters
|
|
29
DELISTED
ADT Corp
ADT
| $1.13B | 1.18% |
28,008,568
+1,893,965
| +7% | +$77.9M |
2013 Q2
2 quarters
|
|
30
APA Corp
APA
$16.3B
| $1.08B | 1.12% |
12,532,800
+87,450
| +0.7% | +$7.78M |
2013 Q2
2 quarters
|
|
|
WFT
31
DELISTED
Weatherford International plc
WFT
| $1.05B | 1.09% |
67,712,743
+21,527,775
| +47% | +$342M |
2013 Q2
2 quarters
|
|
32
Corning
GLW
$129B
| $1.03B | 1.08% |
57,946,118
-536,000
| -0.9% | -$8.83M |
2013 Q2
2 quarters
|
|
|
33
eBay
EBAY
$52B
| $1.03B | 1.07% |
44,607,663
+14,938,385
| +50% | +$331M |
2013 Q2
2 quarters
|
|
34
NetApp
NTAP
$46.4B
| $1.02B | 1.06% |
24,703,903
-591,500
| -2% | -$24M |
2013 Q2
2 quarters
|
|
35
Aegon
AEG
$12.3B
| $956M | 1% |
148,506,721
-2,910,123
| -2% | -$16.6M |
2013 Q2
2 quarters
|
|
|
DISH
36
DELISTED
DISH Network Corp.
DISH
| $879M | 0.92% |
15,174,269
+167,610
| +1% | +$8.58M |
2013 Q2
2 quarters
|
|
37
Celanese
CE
$4.94B
| $876M | 0.91% |
15,839,670
-344,400
| -2% | -$19.1M |
2013 Q2
2 quarters
|
|
|
38
UnitedHealth
UNH
$339B
| $853M | 0.89% |
11,322,985
+5,122,285
| +83% | +$368M |
2013 Q2
2 quarters
|
|
39
Tapestry
TPR
$23.4B
| $848M | 0.88% |
15,101,203
+4,776,986
| +46% | +$258M |
2013 Q2
2 quarters
|
|
40
Synopsys
SNPS
$96.3B
| $838M | 0.87% |
20,657,413
+1,002,119
| +5% | +$37.5M |
2013 Q2
2 quarters
|
|
|
RDS.A
41
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $789M | 0.82% |
11,859,042
+146,981
| +1% | +$9.23M |
2013 Q2
2 quarters
|
|
42
MetLife
MET
$63.2B
| $788M | 0.82% |
16,405,959
-487,173
| -3% | -$21.8M |
2013 Q2
2 quarters
|
|
|
43
DuPont de Nemours
DD
$17.7B
| $774M | 0.81% |
6,885,038
-4,565,622
| -40% | -$468M |
2013 Q2
2 quarters
|
|
44
JPMorgan Chase
JPM
$890B
| $700M | 0.73% |
11,962,669
-118,050
| -1% | -$6.47M |
2013 Q2
2 quarters
|
|
|
QVCGA
45
DELISTED
QVC Group Inc Series A
QVCGA
| $686M | 0.71% |
568,813
-20,597
| -3% | -$22.9M |
2013 Q2
2 quarters
|
|
46
DELISTED
Sprint Corporation
S
| $678M | 0.71% |
63,072,662
-3,280,625
| -5% | -$24.7M |
2013 Q3
1 quarter
|
|
47
Petrobras Class A
PBR.A
$146B
| $670M | 0.7% |
45,587,800
+4,106,800
| +10% | +$67.6M |
2013 Q2
2 quarters
|
|
48
Truist Financial
TFC
$56.9B
| $665M | 0.69% |
17,817,598
-204,750
| -1% | -$7.08M |
2013 Q2
2 quarters
|
|
49
Baidu
BIDU
$28.4B
| $661M | 0.69% |
3,717,187
-1,097,400
| -23% | -$177M |
2013 Q2
2 quarters
|
|
50
Televisa
TV
$1.18B
| $645M | 0.67% |
21,306,792
+3,100
| +0% | +$91.5K |
2013 Q2
2 quarters
|
|
Similar funds
Dodge & Cox's Q4 2013 Portfolio in Review
As of Q4 2013, Dodge & Cox held 167 positions worth $95.9B, up 9% from $88B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Trading was light in Q4 2013: portfolio turnover was 4.2%. Dodge & Cox opened 3 new positions and exited 4, leaving the 167-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q4 2013 buy was Express Scripts Holding Company: 5,609,705 shares worth $394M.
- Dodge & Cox added most to Gen Digital in Q4 2013, an estimated $395M increase.
- Dodge & Cox's biggest Q4 2013 reduction was Amdocs, cutting an estimated $501M.
- Dodge & Cox fully exited MOLEX INC CL-A in Q4 2013, selling an estimated $680M.
- Dodge & Cox's ten largest holdings make up 35% of its $95.9B portfolio in Q4 2013.
- Dodge & Cox opened 3 new positions and closed 4 in Q4 2013.
- Dodge & Cox's portfolio value rose 9% quarter-over-quarter to $95.9B.
Based on Dodge & Cox's 13F filing for Q4 2013, filed 14 Feb 2014.