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 |
Gen Digital
GEN
|
+$395M |
| 2 |
UnitedHealth
UNH
|
+$368M |
| 3 |
ESRX
Express Scripts Holding Company
ESRX
|
+$366M |
| 4 |
WFT
Weatherford International plc
WFT
|
+$342M |
| 5 |
eBay
EBAY
|
+$331M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MOLXA
MOLEX INC CL-A
MOLXA
|
+$680M |
| 2 |
Amdocs
DOX
|
+$501M |
| 3 |
DuPont de Nemours
DD
|
+$468M |
| 4 |
FedEx
FDX
|
+$443M |
| 5 |
Genworth Financial
GNW
|
+$414M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.99% |
| 2 | Technology | 20.48% |
| 3 | Healthcare | 18.33% |
| 4 | Communication Services | 15.59% |
| 5 | Energy | 10.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
EMC
76
DELISTED
EMC CORPORATION
EMC
| $80.4M | 0.08% |
+3,194,980
| New | +$77.4M |
|
77
Union Pacific
UNP
$183B
| $30.1M | 0.03% |
358,864
-3,656
| -1% | -$290K |
|
78
Occidental Petroleum
OXY
$59.1B
| $27.9M | 0.03% |
306,386
-19,628
| -6% | -$1.79M |
|
|
CS
79
DELISTED
Credit Suisse Group
CS
| $26.7M | 0.03% |
860,926
-25,789
| -3% | -$782K |
|
80
Travelers Companies
TRV
$77B
| $25.4M | 0.03% |
280,950
-5,175
| -2% | -$452K |
|
81
IBM
IBM
$225B
| $25M | 0.03% |
139,482
-1,049
| -0.7% | -$181K |
|
82
Home Depot
HD
$328B
| $24.7M | 0.03% |
300,364
-42,650
| -12% | -$3.32M |
|
83
Ericsson
ERIC
$33B
| $24.3M | 0.03% |
1,984,774
+107,650
| +6% | +$1.34M |
|
84
American Express
AXP
$226B
| $20.3M | 0.02% |
223,686
-1,844
| -0.8% | -$151K |
|
85
Diageo
DEO
$51.2B
| $19.2M | 0.02% |
145,058
-12,509
| -8% | -$1.6M |
|
86
ExxonMobil
XOM
$643B
| $17.4M | 0.02% |
171,576
-1,657
| -1% | -$153K |
|
87
Amgen
AMGN
$236B
| $15.6M | 0.02% |
136,620
-23,432
| -15% | -$2.67M |
|
88
Procter & Gamble
PG
$333B
| $14.5M | 0.02% |
177,520
-300
| -0.2% | -$24.4K |
|
|
CB
89
DELISTED
CHUBB CORPORATION
CB
| $13.3M | 0.01% |
137,862
-3,417
| -2% | -$319K |
|
90
Target
TGT
$75.4B
| $12.5M | 0.01% |
196,864
-972
| -0.5% | -$62.1K |
|
91
US Bancorp
USB
$97.2B
| $11.7M | 0.01% |
290,584
-1,600
| -0.5% | -$61.4K |
|
92
Thermo Fisher Scientific
TMO
$233B
| $11M | 0.01% |
98,902
-500
| -0.5% | -$49.7K |
|
|
COV
93
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
| $7.58M | 0.01% |
111,317
| – | – |
|
|
CPWR
94
DELISTED
COMPUWARE CORP
CPWR
| $7.27M | 0.01% |
675,328
-347,694
| -34% | -$3.63M |
|
95
Caterpillar
CAT
$376B
| $6.62M | 0.01% |
72,850
-185
| -0.3% | -$15.8K |
|
96
Walt Disney
DIS
$184B
| $6.41M | 0.01% |
83,870
-695
| -0.8% | -$48.1K |
|
97
McDonald's
MCD
$184B
| $6.18M | 0.01% |
63,678
-2,200
| -3% | -$211K |
|
98
Motorola Solutions
MSI
$80.5B
| $5.29M | 0.01% |
78,424
-1,414
| -2% | -$90.1K |
|
99
3M
MMM
$92.2B
| $4.43M | ﹤0.01% |
37,779
-239
| -0.6% | -$25.5K |
|
100
Bristol-Myers Squibb
BMY
$137B
| $4.25M | ﹤0.01% |
79,921
-200
| -0.2% | -$10.2K |
|
Similar funds
Dodge & Cox's Q4 2013 Portfolio in Review
As of Q4 2013, Dodge & Cox held 167 positions worth $95.9B, up 9% from $88B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Trading was light in Q4 2013: portfolio turnover was 4.2%. Dodge & Cox opened 3 new positions and exited 4, leaving the 167-position portfolio largely intact.
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 Q4 2013 buy was Express Scripts Holding Company: 5,609,705 shares worth $394M.
- Dodge & Cox added most to Gen Digital in Q4 2013, an estimated $395M increase.
- Dodge & Cox's biggest Q4 2013 reduction was Amdocs, cutting an estimated $501M.
- Dodge & Cox fully exited MOLEX INC CL-A in Q4 2013, selling an estimated $680M.
- Dodge & Cox's ten largest holdings make up 35% of its $95.9B portfolio in Q4 2013.
- Dodge & Cox opened 3 new positions and closed 4 in Q4 2013.
- Dodge & Cox's portfolio value rose 9% quarter-over-quarter to $95.9B.
Based on Dodge & Cox's 13F filing for Q4 2013, filed 14 Feb 2014.