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
|
+$868M |
| 2 |
HP
HPQ
|
+$637M |
| 3 |
Baidu
BIDU
|
+$431M |
| 4 |
ESRX
Express Scripts Holding Company
ESRX
|
+$417M |
| 5 |
MetLife
MET
|
+$388M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Merck
MRK
|
+$485M |
| 2 |
FedEx
FDX
|
+$282M |
| 3 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$122M |
| 4 |
TE Connectivity
TEL
|
+$83.1M |
| 5 |
CarMax
KMX
|
+$53.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.47% |
| 2 | Technology | 20.85% |
| 3 | Healthcare | 17.2% |
| 4 | Communication Services | 16.48% |
| 5 | Energy | 11.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Televisa
TV
$1.45B
| $757M | 0.7% |
22,943,922
-7,500
| -0% | -$252K |
|
52
NOV
NOV
$7.4B
| $728M | 0.67% |
14,572,351
+302,989
| +2% | +$16.4M |
|
53
Tapestry
TPR
$24.6B
| $715M | 0.66% |
17,259,611
-230,150
| -1% | -$9.16M |
|
54
Medtronic
MDT
$115B
| $678M | 0.63% |
8,696,577
-121,196
| -1% | -$9.19M |
|
|
STI
55
DELISTED
SunTrust Banks, Inc.
STI
| $671M | 0.62% |
16,319,769
-241,200
| -1% | -$9.77M |
|
|
QVCGA
56
DELISTED
QVC Group Inc Series A
QVCGA
| $644M | 0.59% |
454,728
-3,176
| -0.7% | -$4.43M |
|
57
Liberty Global Class A
LBTYA
$3.6B
| $599M | 0.55% |
14,101,736
+699,594
| +5% | +$29.2M |
|
|
S
58
DELISTED
Sprint Corporation
S
| $556M | 0.51% |
117,394,003
+20,517,769
| +21% | +$96.8M |
|
|
RDS.A
59
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $548M | 0.51% |
9,842,853
+788,009
| +9% | +$46.7M |
|
|
AOL
60
DELISTED
AOL INC COMMON STOCK
AOL
| $464M | 0.43% |
11,717,432
-53,465
| -0.5% | -$2.29M |
|
|
61
CarMax
KMX
$8.89B
| $461M | 0.42% |
6,678,921
-821,650
| -11% | -$53.6M |
|
62
Petrobras Class A
PBR.A
$107B
| $454M | 0.42% |
74,578,000
+10,480,142
| +16% | +$68.2M |
|
|
JNPR
63
DELISTED
Juniper Networks
JNPR
| $399M | 0.37% |
17,650,209
+2,807,306
| +19% | +$64.8M |
|
64
Philips
PHG
$26.3B
| $360M | 0.33% |
18,341,432
-623,781
| -3% | -$12.4M |
|
65
Cadence Design Systems
CDNS
$95.7B
| $305M | 0.28% |
16,534,200
-714,776
| -4% | -$13M |
|
66
Teck Resources
TECK
$34.6B
| $303M | 0.28% |
+22,071,213
| New | +$311M |
|
67
Nokia
NOK
$59.3B
| $232M | 0.21% |
30,548,266
-2,239,948
| -7% | -$17.5M |
|
68
New Oriental
EDU
$9.22B
| $228M | 0.21% |
10,282,429
+3,775,929
| +58% | +$75.9M |
|
69
Honda
HMC
$40.7B
| $221M | 0.2% |
6,759,200
| – | – |
|
|
TIME
70
DELISTED
Time Inc.
TIME
| $186M | 0.17% |
8,273,369
+230,519
| +3% | +$5.52M |
|
71
News Corp Class A
NWSA
$16.8B
| $154M | 0.14% |
9,629,952
-120,250
| -1% | -$1.95M |
|
72
NVR
NVR
$17B
| $143M | 0.13% |
107,426
-620
| -0.6% | -$811K |
|
73
DNOW Inc
DNOW
$2.94B
| $70.9M | 0.07% |
3,278,568
-43,025
| -1% | -$1M |
|
74
DuPont de Nemours
DD
$18.7B
| $33.3M | 0.03% |
273,824
-34,472
| -11% | -$4.09M |
|
75
Union Pacific
UNP
$183B
| $33.2M | 0.03% |
306,235
-14,350
| -4% | -$1.68M |
|
Similar funds
Dodge & Cox's Q1 2015 Portfolio in Review
As of Q1 2015, Dodge & Cox held 191 positions worth $109B, up 0.81% from $108B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Trading was light in Q1 2015: portfolio turnover was 3.7%. Dodge & Cox opened 2 new positions and exited 5, leaving the 191-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 22% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q1 2015 buy was Teck Resources: 22,071,213 shares worth $303M.
- Dodge & Cox added most to SLB Ltd in Q1 2015, an estimated $868M increase.
- Dodge & Cox's biggest Q1 2015 reduction was Merck, cutting an estimated $485M.
- Dodge & Cox fully exited COVIDIEN PLC COM SHS NEW (IRELAND) in Q1 2015, selling an estimated $8.05M.
- Dodge & Cox's ten largest holdings make up 34% of its $109B portfolio in Q1 2015.
- Dodge & Cox opened 2 new positions and closed 5 in Q1 2015.
- Dodge & Cox's portfolio value rose 0.81% quarter-over-quarter to $109B.
Based on Dodge & Cox's 13F filing for Q1 2015, filed 14 May 2015.