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 |
SLB Ltd
SLB
|
+$960M |
| 2 |
APA Corp
APA
|
+$888M |
| 3 |
Danaher
DHR
|
+$805M |
| 4 |
Cisco
CSCO
|
+$714M |
| 5 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$533M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GE Aerospace
GE
|
+$682M |
| 2 |
GSK
GSK
|
+$655M |
| 3 |
Boston Scientific
BSX
|
+$553M |
| 4 |
eBay
EBAY
|
+$476M |
| 5 |
Comcast
CMCSA
|
+$469M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.94% |
| 2 | Technology | 21.34% |
| 3 | Healthcare | 16.15% |
| 4 | Communication Services | 15.77% |
| 5 | Energy | 10.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
eBay
EBAY
$47.8B
| $1.54B | 1.43% |
65,117,233
-20,958,556
| -24% | -$476M |
|
27
JPMorgan Chase
JPM
$926B
| $1.49B | 1.38% |
23,757,905
+3,741,041
| +19% | +$225M |
|
28
Pfizer
PFE
$143B
| $1.47B | 1.37% |
49,744,134
-431,515
| -0.9% | -$12.4M |
|
29
Chevron
CVX
$393B
| $1.42B | 1.32% |
12,662,230
+1,809,917
| +17% | +$206M |
|
30
Target
TGT
$61.3B
| $1.39B | 1.29% |
18,301,976
+543,587
| +3% | +$36.7M |
|
31
NetApp
NTAP
$32.8B
| $1.37B | 1.27% |
33,086,586
+664,846
| +2% | +$27.6M |
|
|
BHI
32
DELISTED
Baker Hughes
BHI
| $1.35B | 1.26% |
24,140,300
+6,760,780
| +39% | +$381M |
|
33
Corning
GLW
$135B
| $1.33B | 1.24% |
58,052,475
+392,037
| +0.7% | +$7.98M |
|
|
EMC
34
DELISTED
EMC CORPORATION
EMC
| $1.23B | 1.15% |
41,462,003
+868,303
| +2% | +$25.3M |
|
35
MetLife
MET
$59.3B
| $1.09B | 1.01% |
22,658,055
+6,069,341
| +37% | +$288M |
|
36
Cigna
CI
$76.5B
| $1.07B | 0.99% |
10,351,758
+30,021
| +0.3% | +$2.96M |
|
37
Truist Financial
TFC
$62.1B
| $1.05B | 0.98% |
27,029,453
+9,773,777
| +57% | +$368M |
|
|
38
GSK
GSK
$101B
| $1.02B | 0.95% |
19,167,441
-11,703,888
| -38% | -$655M |
|
|
ADT
39
DELISTED
ADT Corp
ADT
| $1.01B | 0.94% |
27,884,826
+31,757
| +0.1% | +$1.09M |
|
|
40
GE Aerospace
GE
$361B
| $980M | 0.91% |
8,093,188
-5,548,941
| -41% | -$682M |
|
41
Celanese
CE
$5.27B
| $943M | 0.88% |
15,733,381
+56,845
| +0.4% | +$3.32M |
|
42
NOV
NOV
$7.33B
| $935M | 0.87% |
14,269,362
+280,329
| +2% | +$19.5M |
|
43
Synopsys
SNPS
$71.6B
| $926M | 0.86% |
21,310,523
-197,888
| -0.9% | -$8.22M |
|
44
Baidu
BIDU
$36.2B
| $862M | 0.8% |
3,780,487
-184,000
| -5% | -$42.2M |
|
|
WFT
45
DELISTED
Weatherford International plc
WFT
| $859M | 0.8% |
75,010,077
+1,607,790
| +2% | +$24.1M |
|
|
46
Danaher
DHR
$133B
| $855M | 0.79% |
14,842,512
+14,835,247
| +204,202% | +$805M |
|
|
DISH
47
DELISTED
DISH Network Corp.
DISH
| $838M | 0.78% |
11,501,480
-188,239
| -2% | -$12.7M |
|
|
MXIM
48
DELISTED
Maxim Integrated Products
MXIM
| $811M | 0.75% |
25,439,327
+1,712,597
| +7% | +$50.4M |
|
49
Liberty Global Class C
LBTYK
$3.37B
| $797M | 0.74% |
20,398,114
+1,074,909
| +6% | +$39.2M |
|
50
Aegon
AEG
$13.4B
| $782M | 0.73% |
151,060,061
+1,329,842
| +0.9% | +$7.17M |
|
Similar funds
Dodge & Cox's Q4 2014 Portfolio in Review
As of Q4 2014, Dodge & Cox held 208 positions worth $108B, up 2.9% from $105B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q4 2014 filing shows 5 new, 51 increased, 97 reduced and 19 closed positions. Its largest new stake was Juniper Networks: 14,842,903 shares worth $331M. The largest sale was GE Aerospace, an estimated $682M.
By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 21% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q4 2014 buy was Juniper Networks: 14,842,903 shares worth $331M.
- Dodge & Cox added most to SLB Ltd in Q4 2014, an estimated $960M increase.
- Dodge & Cox's biggest Q4 2014 reduction was GE Aerospace, cutting an estimated $682M.
- Dodge & Cox fully exited Vodafone in Q4 2014, selling an estimated $4.59M.
- Dodge & Cox's ten largest holdings make up 35% of its $108B portfolio in Q4 2014.
- Dodge & Cox opened 5 new positions and closed 19 in Q4 2014.
- Dodge & Cox's portfolio value rose 2.9% quarter-over-quarter to $108B.
Based on Dodge & Cox's 13F filing for Q4 2014, filed 13 Feb 2015.