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 |
Charter Communications
CHTR
|
+$2.44B |
| 2 |
Anadarko Petroleum
APC
|
+$467M |
| 3 |
MetLife
MET
|
+$358M |
| 4 |
Union Pacific
UNP
|
+$248M |
| 5 |
JD.com
JD
|
+$240M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$3.73B |
| 2 |
ADT Corp
ADT
|
+$843M |
| 3 |
SLB Ltd
SLB
|
+$614M |
| 4 |
Teck Resources
TECK
|
+$442M |
| 5 |
EMC CORPORATION
EMC
|
+$432M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.42% |
| 2 | Technology | 21.75% |
| 3 | Communication Services | 16.84% |
| 4 | Healthcare | 15.78% |
| 5 | Energy | 11.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Televisa
TV
$1.18B
| $719M | 0.71% |
27,625,692
+9,700
| +0% | +$256K |
2013 Q2
12 quarters
|
|
52
Tapestry
TPR
$23.4B
| $682M | 0.67% |
16,736,280
-590,200
| -3% | -$23.3M |
2013 Q2
12 quarters
|
|
|
VMW
53
DELISTED
VMware, Inc
VMW
| $680M | 0.67% |
11,890,635
+2,726,144
| +30% | +$157M |
2015 Q4
2 quarters
|
|
54
Danaher
DHR
$156B
| $672M | 0.66% |
9,900,269
-1,059,857
| -10% | -$69.3M |
2014 Q3
7 quarters
|
|
|
CXO
55
DELISTED
CONCHO RESOURCES INC.
CXO
| $669M | 0.66% |
5,604,950
-63,550
| -1% | -$7.37M |
2015 Q3
3 quarters
|
|
|
RDS.A
56
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $578M | 0.57% |
11,031,850
-609,199
| -5% | -$29.4M |
2013 Q2
12 quarters
|
|
57
Medtronic
MDT
$117B
| $560M | 0.55% |
6,452,264
-385,771
| -6% | -$31.2M |
2013 Q2
12 quarters
|
|
|
QVCGA
58
DELISTED
QVC Group Inc Series A
QVCGA
| $526M | 0.52% |
427,153
-3,457
| -0.8% | -$4.35M |
2013 Q2
12 quarters
|
|
|
59
DELISTED
Anadarko Petroleum
APC
| $491M | 0.48% |
9,212,463
+9,204,039
| +109,260% | +$467M |
2013 Q2
12 quarters
|
|
60
Liberty Global Class A
LBTYA
$2.92B
| $465M | 0.46% |
15,989,587
-1,423,087
| -8% | -$46.2M |
2013 Q2
12 quarters
|
|
|
WFT
61
DELISTED
Weatherford International plc
WFT
| $451M | 0.45% |
81,192,317
+170,700
| +0.2% | +$1.11M |
2013 Q2
12 quarters
|
|
62
Aegon
AEG
$12.3B
| $444M | 0.44% |
149,118,430
-439,533
| -0.3% | -$1.65M |
2013 Q2
12 quarters
|
|
63
Harley-Davidson
HOG
$2.85B
| $427M | 0.42% |
9,425,983
+98,250
| +1% | +$4.52M |
2015 Q3
3 quarters
|
|
64
Elevance Health
ELV
$91.6B
| $421M | 0.42% |
3,205,245
-177,105
| -5% | -$24.2M |
2013 Q2
12 quarters
|
|
|
TFCF
65
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $388M | 0.38% |
14,239,300
+12,000
| +0.1% | +$351K |
2015 Q3
3 quarters
|
|
66
Cemex
CX
$13.8B
| $283M | 0.28% |
47,735,574
-3,212,248
| -6% | -$20.6M |
2013 Q2
12 quarters
|
|
67
Alphabet (Google) Class A
GOOGL
$4.31T
| $267M | 0.26% |
7,582,220
-1,670,900
| -18% | -$61.3M |
2015 Q4
2 quarters
|
|
|
AGU
68
DELISTED
Agrium
AGU
| $241M | 0.24% |
2,665,183
-107,000
| -4% | -$9.53M |
2015 Q3
3 quarters
|
|
69
Honda
HMC
$42.4B
| $146M | 0.14% |
5,749,300
| – | – |
2013 Q2
12 quarters
|
|
70
Alnylam Pharmaceuticals
ALNY
$30.4B
| $140M | 0.14% |
+2,516,669
| New | +$159M |
2016 Q2
0 quarters
|
|
71
Liberty Latin America Class C
LILAK
$1.6B
| $127M | 0.13% |
4,559,028
+3,436,894
| +306% | +$114M |
2015 Q3
3 quarters
|
|
72
News Corp Class A
NWSA
$15.8B
| $93.6M | 0.09% |
8,250,440
-67,562
| -0.8% | -$814K |
2013 Q3
11 quarters
|
|
73
Liberty Latin America Class A
LILA
$1.62B
| $81.5M | 0.08% |
3,947,568
+3,039,277
| +335% | +$71.7M |
2015 Q3
3 quarters
|
|
74
Thermo Fisher Scientific
TMO
$245B
| $77.8M | 0.08% |
526,642
-24,250
| -4% | -$3.58M |
2013 Q2
12 quarters
|
|
75
Chevron
CVX
$422B
| $53.9M | 0.05% |
514,311
-27,473
| -5% | -$2.76M |
2013 Q2
12 quarters
|
|
Similar funds
Dodge & Cox's Q2 2016 Portfolio in Review
As of Q2 2016, Dodge & Cox held 196 positions worth $101B, down 0.95% from $102B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Dodge & Cox's Q2 2016 filing shows 5 new, 37 increased, 102 reduced and 21 closed positions. Its largest new stake was Charter Communications: 11,347,398 shares worth $2.59B. The largest sale was TIME WARNER CABLE INC NEW COM STK, an estimated $3.73B.
By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 22% a quarter earlier, followed by Technology and Communication Services.
- Dodge & Cox's largest Q2 2016 buy was Charter Communications: 11,347,398 shares worth $2.59B.
- Dodge & Cox added most to Anadarko Petroleum in Q2 2016, an estimated $467M increase.
- Dodge & Cox's biggest Q2 2016 reduction was SLB Ltd, cutting an estimated $614M.
- Dodge & Cox fully exited TIME WARNER CABLE INC NEW COM STK in Q2 2016, selling an estimated $3.73B.
- Dodge & Cox's ten largest holdings make up 32% of its $101B portfolio in Q2 2016.
- Dodge & Cox opened 5 new positions and closed 21 in Q2 2016.
- Dodge & Cox's portfolio value fell 0.95% quarter-over-quarter to $101B.
Based on Dodge & Cox's 13F filing for Q2 2016, filed 12 Aug 2016.