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 | |
|---|---|---|---|---|---|---|
51
Televisa
TV
$1.48B
| $782M | 0.73% |
22,951,422
+2,030,800
| +10% | +$70.5M |
|
|
52
Cisco
CSCO
$445B
| $770M | 0.72% |
27,682,778
+27,650,125
| +84,679% | +$714M |
|
|
STI
53
DELISTED
SunTrust Banks, Inc.
STI
| $694M | 0.64% |
16,560,969
-33,027
| -0.2% | -$1.3M |
|
54
Tapestry
TPR
$28.6B
| $657M | 0.61% |
17,489,761
+1,805
| +0% | +$63.6K |
|
|
QVCGA
55
DELISTED
QVC Group Inc Series A
QVCGA
| $654M | 0.61% |
457,904
-99,012
| -18% | -$130M |
|
56
Medtronic
MDT
$105B
| $637M | 0.59% |
8,817,773
-46,850
| -0.5% | -$3.25M |
|
|
RDS.A
57
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $566M | 0.53% |
8,457,505
-3,334,870
| -28% | -$231M |
|
58
Liberty Global Class A
LBTYA
$3.49B
| $555M | 0.52% |
13,402,142
+2,788
| +0% | +$107K |
|
|
AOL
59
DELISTED
AOL INC COMMON STOCK
AOL
| $543M | 0.51% |
11,770,897
-557,100
| -5% | -$24.5M |
|
60
CarMax
KMX
$8.18B
| $499M | 0.46% |
7,500,571
-111,539
| -1% | -$6.18M |
|
61
Petrobras Class A
PBR.A
$109B
| $486M | 0.45% |
64,097,858
+24,750,058
| +63% | +$279M |
|
|
S
62
DELISTED
Sprint Corporation
S
| $402M | 0.37% |
96,876,234
+33,447,956
| +53% | +$172M |
|
63
Philips
PHG
$25.4B
| $381M | 0.35% |
18,965,213
-654,896
| -3% | -$13.1M |
|
|
JNPR
64
DELISTED
Juniper Networks
JNPR
| $331M | 0.31% |
+14,842,903
| New | +$315M |
|
65
Cadence Design Systems
CDNS
$92B
| $327M | 0.3% |
17,248,976
-870,999
| -5% | -$15.6M |
|
66
Nokia
NOK
$55.7B
| $258M | 0.24% |
32,788,214
-39,388,677
| -55% | -$318M |
|
67
Honda
HMC
$36.4B
| $200M | 0.19% |
6,759,200
| – | – |
|
|
TIME
68
DELISTED
Time Inc.
TIME
| $198M | 0.18% |
8,042,850
+44,271
| +0.6% | +$1M |
|
69
News Corp Class A
NWSA
$14.4B
| $153M | 0.14% |
9,750,202
-113,938
| -1% | -$1.75M |
|
70
NVR
NVR
$16.5B
| $138M | 0.13% |
108,046
-8,119
| -7% | -$9.84M |
|
71
New Oriental
EDU
$7.82B
| $133M | 0.12% |
6,506,500
+2,503,600
| +63% | +$54.4M |
|
|
LVNTA
72
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $122M | 0.11% |
+3,228,528
| New | +$113M |
|
73
DNOW Inc
DNOW
$2.61B
| $85.5M | 0.08% |
3,321,593
-65,734
| -2% | -$1.8M |
|
74
Union Pacific
UNP
$182B
| $38.2M | 0.04% |
320,585
-15,109
| -5% | -$1.73M |
|
75
DuPont de Nemours
DD
$18.5B
| $35.6M | 0.03% |
308,296
-1,967,652
| -86% | -$240M |
|
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.