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 |
eBay
EBAY
|
+$681M |
| 2 |
Cigna
CI
|
+$399M |
| 3 |
Liberty Global Class A
LBTYA
|
+$370M |
| 4 |
TYC
TYCO INTL PLC COM SHS (IRL)
TYC
|
+$207M |
| 5 |
Walmart Inc
WMT
|
+$206M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GSK
GSK
|
+$1.06B |
| 2 |
Nokia
NOK
|
+$561M |
| 3 |
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
|
+$511M |
| 4 |
HP
HPQ
|
+$477M |
| 5 |
DuPont de Nemours
DD
|
+$252M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.16% |
| 2 | Technology | 20.44% |
| 3 | Healthcare | 16.97% |
| 4 | Communication Services | 14.78% |
| 5 | Energy | 11.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Truist Financial
TFC
$62.4B
| $642M | 0.61% |
17,255,676
+142,081
| +0.8% | +$5.36M |
|
52
Liberty Global Class C
LBTYK
$3.38B
| $641M | 0.61% |
19,323,205
+4,254,090
| +28% | +$143M |
|
|
STI
53
DELISTED
SunTrust Banks, Inc.
STI
| $631M | 0.6% |
16,593,996
-135,200
| -0.8% | -$5.22M |
|
54
Tapestry
TPR
$28B
| $623M | 0.6% |
17,487,956
-29,124
| -0.2% | -$1.04M |
|
|
55
Nokia
NOK
$54.2B
| $611M | 0.58% |
72,176,891
-69,758,780
| -49% | -$561M |
|
56
Petrobras Class A
PBR.A
$109B
| $586M | 0.56% |
39,347,800
-7,649,100
| -16% | -$136M |
|
|
AOL
57
DELISTED
AOL INC COMMON STOCK
AOL
| $554M | 0.53% |
12,327,997
-348,358
| -3% | -$14.5M |
|
58
Medtronic
MDT
$105B
| $549M | 0.53% |
8,864,623
+88,030
| +1% | +$5.6M |
|
59
Boston Scientific
BSX
$64.8B
| $525M | 0.5% |
44,458,338
-414,480
| -0.9% | -$5.22M |
|
60
HSBC
HSBC
$349B
| $501M | 0.48% |
11,426,080
-44,534
| -0.4% | -$2.03M |
|
61
Adobe
ADBE
$84.4B
| $489M | 0.47% |
7,061,371
-179,700
| -2% | -$12.7M |
|
|
62
Liberty Global Class A
LBTYA
$3.48B
| $470M | 0.45% |
13,399,354
+10,377,393
| +343% | +$370M |
|
63
Philips
PHG
$25.3B
| $431M | 0.41% |
19,620,109
-600,985
| -3% | -$12.9M |
|
|
S
64
DELISTED
Sprint Corporation
S
| $402M | 0.38% |
63,428,278
+24,840,835
| +64% | +$169M |
|
65
CarMax
KMX
$8.26B
| $354M | 0.34% |
7,612,110
-112,400
| -1% | -$5.76M |
|
66
Unilever
UL
$130B
| $338M | 0.32% |
7,174,994
-765,660
| -10% | -$37.8M |
|
67
Cadence Design Systems
CDNS
$91.2B
| $312M | 0.3% |
18,119,975
-1,067,200
| -6% | -$18.5M |
|
|
68
DuPont de Nemours
DD
$18.5B
| $302M | 0.29% |
2,275,948
-1,887,993
| -45% | -$252M |
|
69
Vulcan Materials
VMC
$35.6B
| $251M | 0.24% |
4,175,466
-586,329
| -12% | -$37M |
|
70
Honda
HMC
$36.3B
| $232M | 0.22% |
6,759,200
| – | – |
|
|
TIME
71
DELISTED
Time Inc.
TIME
| $187M | 0.18% |
7,998,579
-124,645
| -2% | -$3M |
|
72
News Corp Class A
NWSA
$14.3B
| $161M | 0.15% |
9,864,140
-444,052
| -4% | -$7.81M |
|
73
NVR
NVR
$16.6B
| $131M | 0.13% |
116,165
-1,000
| -0.9% | -$1.14M |
|
74
DNOW Inc
DNOW
$2.62B
| $103M | 0.1% |
3,387,327
-15,475
| -0.5% | -$507K |
|
75
New Oriental
EDU
$7.84B
| $92.9M | 0.09% |
+4,002,900
| New | +$89.2M |
|
Similar funds
Dodge & Cox's Q3 2014 Portfolio in Review
As of Q3 2014, Dodge & Cox held 207 positions worth $105B, down 0.3% from $105B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q3 2014 filing shows 40 new, 53 increased, 86 reduced and 4 closed positions. Its largest new stake was New Oriental: 4,002,900 shares worth $92.9M. The largest sale was GSK, an estimated $1.06B.
By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 21% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q3 2014 buy was New Oriental: 4,002,900 shares worth $92.9M.
- Dodge & Cox added most to eBay in Q3 2014, an estimated $681M increase.
- Dodge & Cox's biggest Q3 2014 reduction was GSK, cutting an estimated $1.06B.
- Dodge & Cox fully exited FOREST LABORATORIES INC in Q3 2014, selling an estimated $4.46M.
- Dodge & Cox's ten largest holdings make up 35% of its $105B portfolio in Q3 2014.
- Dodge & Cox opened 40 new positions and closed 4 in Q3 2014.
- Dodge & Cox's portfolio value fell 0.3% quarter-over-quarter to $105B.
Based on Dodge & Cox's 13F filing for Q3 2014, filed 13 Nov 2014.