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 |
APA Corp
APA
|
+$468M |
| 2 |
S
Sprint Corporation
S
|
+$437M |
| 3 |
UnitedHealth
UNH
|
+$366M |
| 4 |
Microsoft
MSFT
|
+$305M |
| 5 |
ADT
ADT Corp
ADT
|
+$247M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FON
SPRINT CORP FON COM
FON
|
+$1.76B |
| 2 |
Xerox
XRX
|
+$625M |
| 3 |
PC
PANASONIC CORP ADR (REP 1 SHR COM STK) (JP)
PC
|
+$347M |
| 4 |
Adobe
ADBE
|
+$282M |
| 5 |
Vodafone
VOD
|
+$252M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.99% |
| 2 | Technology | 19.81% |
| 3 | Healthcare | 18.2% |
| 4 | Communication Services | 15.23% |
| 5 | Energy | 10.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Tapestry
TPR
$24.6B
| $563M | 0.64% |
10,324,217
+3,588,017
| +53% | +$198M |
|
|
STI
52
DELISTED
SunTrust Banks, Inc.
STI
| $560M | 0.64% |
17,276,479
-194,217
| -1% | -$6.57M |
|
|
CSC
53
DELISTED
Computer Sciences
CSC
| $550M | 0.62% |
25,218,868
-571,826
| -2% | -$12M |
|
|
MHFI
54
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $542M | 0.62% |
8,257,382
-53,483
| -0.6% | -$3.24M |
|
55
Philips
PHG
$26.3B
| $524M | 0.6% |
23,458,530
-448,871
| -2% | -$9.81M |
|
56
HSBC
HSBC
$352B
| $518M | 0.59% |
11,072,527
-21,799
| -0.2% | -$1.03M |
|
|
57
Xerox
XRX
$390M
| $512M | 0.58% |
18,889,718
-23,785,586
| -56% | -$625M |
|
58
Medtronic
MDT
$115B
| $511M | 0.58% |
9,591,376
-262,317
| -3% | -$14.1M |
|
|
59
Vodafone
VOD
$36.7B
| $510M | 0.58% |
14,211,922
-7,966,809
| -36% | -$252M |
|
60
Amdocs
DOX
$6.55B
| $468M | 0.53% |
12,768,480
-3,607,039
| -22% | -$136M |
|
|
61
UnitedHealth
UNH
$355B
| $444M | 0.5% |
6,200,700
+5,120,934
| +474% | +$366M |
|
62
Cigna
CI
$73.4B
| $433M | 0.49% |
5,629,670
+119,933
| +2% | +$9.36M |
|
63
Genworth Financial
GNW
$3.75B
| $414M | 0.47% |
32,373,141
-2,804,356
| -8% | -$35.2M |
|
|
S
64
DELISTED
Sprint Corporation
S
| $412M | 0.47% |
+66,353,287
| New | +$437M |
|
65
Vulcan Materials
VMC
$35.5B
| $403M | 0.46% |
7,782,281
-49,303
| -0.6% | -$2.44M |
|
66
Unilever
UL
$139B
| $399M | 0.45% |
9,185,857
-41,659
| -0.5% | -$1.89M |
|
|
MXIM
67
DELISTED
Maxim Integrated Products
MXIM
| $390M | 0.44% |
13,091,324
+1,548,825
| +13% | +$44.1M |
|
68
CarMax
KMX
$8.89B
| $375M | 0.43% |
7,738,177
-140,041
| -2% | -$6.85M |
|
|
AOL
69
DELISTED
AOL INC COMMON STOCK
AOL
| $333M | 0.38% |
9,617,768
+311,964
| +3% | +$11.1M |
|
70
Liberty Global Class C
LBTYK
$3.51B
| $271M | 0.31% |
8,893,886
-7,664
| -0.1% | -$230K |
|
71
Cadence Design Systems
CDNS
$95.7B
| $265M | 0.3% |
19,594,742
-173,783
| -0.9% | -$2.49M |
|
72
Honda
HMC
$40.7B
| $258M | 0.29% |
6,764,800
-2,400
| -0% | -$91.7K |
|
73
Liberty Global Class A
LBTYA
$3.6B
| $198M | 0.23% |
6,057,260
| – | – |
|
74
News Corp Class A
NWSA
$16.8B
| $188M | 0.21% |
+11,681,529
| New | +$187M |
|
|
FRX
75
DELISTED
FOREST LABORATORIES INC
FRX
| $147M | 0.17% |
+3,441,441
| New | +$149M |
|
Similar funds
Dodge & Cox's Q3 2013 Portfolio in Review
As of Q3 2013, Dodge & Cox held 170 positions worth $88B, up 4.6% from $84.2B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q3 2013 filing shows 4 new, 27 increased, 95 reduced and 6 closed positions. Its largest new stake was Sprint Corporation: 66,353,287 shares worth $412M. The largest sale was SPRINT CORP FON COM, an estimated $1.76B.
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 Q3 2013 buy was Sprint Corporation: 66,353,287 shares worth $412M.
- Dodge & Cox added most to APA Corp in Q3 2013, an estimated $468M increase.
- Dodge & Cox's biggest Q3 2013 reduction was Xerox, cutting an estimated $625M.
- Dodge & Cox fully exited SPRINT CORP FON COM in Q3 2013, selling an estimated $1.76B.
- Dodge & Cox's ten largest holdings make up 35% of its $88B portfolio in Q3 2013.
- Dodge & Cox opened 4 new positions and closed 6 in Q3 2013.
- Dodge & Cox's portfolio value rose 4.6% quarter-over-quarter to $88B.
Based on Dodge & Cox's 13F filing for Q3 2013, filed 13 Nov 2013.