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 | |
|---|---|---|---|---|---|---|
76
Adobe
ADBE
$84.3B
| $35.4M | 0.03% |
487,612
-6,573,759
| -93% | -$461M |
|
77
Ericsson
ERIC
$30.6B
| $25.7M | 0.02% |
2,122,034
+23,850
| +1% | +$287K |
|
78
HSBC
HSBC
$349B
| $25.4M | 0.02% |
624,601
-10,801,479
| -95% | -$461M |
|
79
Travelers Companies
TRV
$78.5B
| $24.7M | 0.02% |
233,380
-6,960
| -3% | -$703K |
|
|
CS
80
DELISTED
Credit Suisse Group
CS
| $20.2M | 0.02% |
806,776
-32,799
| -4% | -$860K |
|
81
American Express
AXP
$233B
| $19.6M | 0.02% |
210,950
-7,188
| -3% | -$644K |
|
82
IBM
IBM
$194B
| $19.5M | 0.02% |
126,939
-3,984
| -3% | -$634K |
|
83
Unilever
UL
$130B
| $18.7M | 0.02% |
409,794
-6,765,200
| -94% | -$310M |
|
84
Vulcan Materials
VMC
$35.7B
| $17.8M | 0.02% |
271,434
-3,904,032
| -93% | -$246M |
|
85
Occidental Petroleum
OXY
$57.3B
| $17.2M | 0.02% |
213,196
-24,927
| -10% | -$2.07M |
|
|
86
Boston Scientific
BSX
$64.8B
| $15.7M | 0.01% |
1,184,730
-43,273,608
| -97% | -$553M |
|
87
Procter & Gamble
PG
$342B
| $15.6M | 0.01% |
171,022
-8,601
| -5% | -$757K |
|
88
ExxonMobil
XOM
$650B
| $15.4M | 0.01% |
166,484
-2,876
| -2% | -$268K |
|
|
MHFI
89
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $13.1M | 0.01% |
147,489
-77,041
| -34% | -$6.77M |
|
90
Home Depot
HD
$324B
| $13.1M | 0.01% |
124,711
-15,090
| -11% | -$1.47M |
|
|
CB
91
DELISTED
CHUBB CORPORATION
CB
| $13M | 0.01% |
125,659
-2,960
| -2% | -$295K |
|
92
Diageo
DEO
$45.7B
| $12.7M | 0.01% |
111,051
-4,821
| -4% | -$560K |
|
93
Amgen
AMGN
$201B
| $10.6M | 0.01% |
66,427
-6,480
| -9% | -$1.01M |
|
94
US Bancorp
USB
$98.7B
| $9.95M | 0.01% |
221,434
-4,200
| -2% | -$181K |
|
|
CSC
95
DELISTED
Computer Sciences
CSC
| $8.13M | 0.01% |
305,899
-95,893
| -24% | -$2.47M |
|
|
COV
96
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
| $8.05M | 0.01% |
78,686
-10,331
| -12% | -$991K |
|
97
Thermo Fisher Scientific
TMO
$213B
| $7.04M | 0.01% |
56,202
-880
| -2% | -$107K |
|
98
Walt Disney
DIS
$161B
| $6.39M | 0.01% |
67,854
| – | – |
|
99
Caterpillar
CAT
$412B
| $6.21M | 0.01% |
67,830
-3,789
| -5% | -$369K |
|
100
Bristol-Myers Squibb
BMY
$126B
| $5.37M | 0.01% |
91,028
+600
| +0.7% | +$33.8K |
|
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.