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 |
HP
HPQ
|
+$672M |
| 2 |
UBS Group
UBS
|
+$647M |
| 3 |
Cisco
CSCO
|
+$627M |
| 4 |
SLB Ltd
SLB
|
+$418M |
| 5 |
PayPal
PYPL
|
+$409M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
eBay
EBAY
|
+$972M |
| 2 |
Chevron
CVX
|
+$904M |
| 3 |
GSK
GSK
|
+$511M |
| 4 |
STI
SunTrust Banks, Inc.
STI
|
+$501M |
| 5 |
UnitedHealth
UNH
|
+$433M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.11% |
| 2 | Technology | 21.96% |
| 3 | Communication Services | 17.58% |
| 4 | Healthcare | 16.13% |
| 5 | Energy | 10.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Union Pacific
UNP
$183B
| $26M | 0.03% |
293,560
-6,200
| -2% | -$566K |
|
77
Adobe
ADBE
$115B
| $24.2M | 0.02% |
294,003
-34,240
| -10% | -$2.78M |
|
78
Ericsson
ERIC
$32.9B
| $21.4M | 0.02% |
2,185,978
+33,120
| +2% | +$335K |
|
79
Travelers Companies
TRV
$77.6B
| $20.9M | 0.02% |
209,671
-8,170
| -4% | -$836K |
|
80
DuPont de Nemours
DD
$18.8B
| $20.6M | 0.02% |
192,288
-25,175
| -12% | -$2.92M |
|
81
Liberty Latin America Class A
LILA
$1.64B
| $19.6M | 0.02% |
+908,315
| New | +$23.1M |
|
|
CS
82
DELISTED
Credit Suisse Group
CS
| $19.5M | 0.02% |
811,144
-1,055
| -0.1% | -$29K |
|
83
IBM
IBM
$225B
| $15.3M | 0.02% |
110,557
-7,277
| -6% | -$1.07M |
|
|
CB
84
DELISTED
CHUBB CORPORATION
CB
| $14.2M | 0.01% |
115,740
-2,870
| -2% | -$351K |
|
85
Occidental Petroleum
OXY
$59.4B
| $13.2M | 0.01% |
200,221
-201
| -0.1% | -$14K |
|
86
Home Depot
HD
$329B
| $11.6M | 0.01% |
100,582
-2,240
| -2% | -$259K |
|
87
ExxonMobil
XOM
$647B
| $11.2M | 0.01% |
150,952
-5,600
| -4% | -$431K |
|
88
Procter & Gamble
PG
$333B
| $11.2M | 0.01% |
155,170
-5,200
| -3% | -$390K |
|
89
Vulcan Materials
VMC
$36B
| $11M | 0.01% |
123,455
-19,900
| -14% | -$1.85M |
|
|
TIME
90
DELISTED
Time Inc.
TIME
| $9.56M | 0.01% |
501,868
-1,746,289
| -78% | -$36.9M |
|
91
Diageo
DEO
$51.6B
| $9.43M | 0.01% |
87,474
-5,200
| -6% | -$578K |
|
|
92
GSK
GSK
$100B
| $7.8M | 0.01% |
162,332
-9,819,266
| -98% | -$511M |
|
93
Boston Scientific
BSX
$68.2B
| $7.76M | 0.01% |
472,960
-115,300
| -20% | -$1.97M |
|
94
US Bancorp
USB
$97.8B
| $7.19M | 0.01% |
175,234
-5,500
| -3% | -$238K |
|
95
Walt Disney
DIS
$185B
| $6.79M | 0.01% |
66,457
| – | – |
|
96
Amgen
AMGN
$235B
| $6.69M | 0.01% |
48,344
-2,460
| -5% | -$388K |
|
97
Thermo Fisher Scientific
TMO
$231B
| $6.47M | 0.01% |
52,902
-900
| -2% | -$117K |
|
98
Unilever
UL
$140B
| $5.81M | 0.01% |
126,583
-51,453
| -29% | -$2.46M |
|
99
Bristol-Myers Squibb
BMY
$136B
| $4.73M | ﹤0.01% |
79,928
-1,000
| -1% | -$63.4K |
|
100
Motorola Solutions
MSI
$80.6B
| $4.55M | ﹤0.01% |
66,596
-800
| -1% | -$50.4K |
|
Similar funds
Dodge & Cox's Q3 2015 Portfolio in Review
As of Q3 2015, Dodge & Cox held 189 positions worth $99.4B, down 10% from $111B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Dodge & Cox's Q3 2015 filing shows 9 new, 45 increased, 83 reduced and 5 closed positions. Its largest new stake was UBS Group: 30,534,700 shares worth $566M. The largest sale was eBay, an estimated $972M.
By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 22% a quarter earlier, followed by Technology and Communication Services.
- Dodge & Cox's largest Q3 2015 buy was UBS Group: 30,534,700 shares worth $566M.
- Dodge & Cox added most to HP in Q3 2015, an estimated $672M increase.
- Dodge & Cox's biggest Q3 2015 reduction was eBay, cutting an estimated $972M.
- Dodge & Cox fully exited NVR in Q3 2015, selling an estimated $115M.
- Dodge & Cox's ten largest holdings make up 36% of its $99.4B portfolio in Q3 2015.
- Dodge & Cox opened 9 new positions and closed 5 in Q3 2015.
- Dodge & Cox's portfolio value fell 10% quarter-over-quarter to $99.4B.
Based on Dodge & Cox's 13F filing for Q3 2015, filed 12 Nov 2015.