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 |
Hewlett Packard
HPE
|
+$3.13B |
| 2 |
American Express
AXP
|
+$898M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$814M |
| 4 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$411M |
| 5 |
Elevance Health
ELV
|
+$409M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HP
HPQ
|
+$2.98B |
| 2 |
Pfizer
PFE
|
+$1.43B |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$940M |
| 4 |
GE Aerospace
GE
|
+$799M |
| 5 |
UBS Group
UBS
|
+$566M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.52% |
| 2 | Technology | 22.84% |
| 3 | Communication Services | 17.89% |
| 4 | Healthcare | 15.08% |
| 5 | Energy | 9.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
76
Pfizer
PFE
$160B
| $72.4M | 0.07% |
2,364,310
-45,346,514
| -95% | -$1.43B |
|
|
77
GE Aerospace
GE
$356B
| $64.6M | 0.06% |
432,796
-5,627,293
| -93% | -$799M |
|
78
Chevron
CVX
$392B
| $52.8M | 0.05% |
587,137
-67,087
| -10% | -$6.05M |
|
79
Liberty Latin America Class C
LILAK
$1.62B
| $41.3M | 0.04% |
1,121,083
-18,808
| -2% | -$613K |
|
80
DNOW Inc
DNOW
$2.94B
| $39.3M | 0.04% |
2,485,246
-663,851
| -21% | -$11.3M |
|
81
PayPal
PYPL
$52.6B
| $29.5M | 0.03% |
813,612
-10,602,122
| -93% | -$374M |
|
|
STI
82
DELISTED
SunTrust Banks, Inc.
STI
| $28.7M | 0.03% |
670,159
-2,067,575
| -76% | -$87.1M |
|
83
Adobe
ADBE
$115B
| $25.7M | 0.03% |
273,828
-20,175
| -7% | -$1.81M |
|
84
DuPont de Nemours
DD
$18.7B
| $24.3M | 0.02% |
186,693
-5,595
| -3% | -$718K |
|
|
85
Liberty Latin America Class A
LILA
$1.63B
| $24.1M | 0.02% |
908,315
| – | – |
|
86
Travelers Companies
TRV
$77B
| $22.9M | 0.02% |
203,145
-6,526
| -3% | -$725K |
|
87
Union Pacific
UNP
$183B
| $22.5M | 0.02% |
287,599
-5,961
| -2% | -$511K |
|
88
Ericsson
ERIC
$33B
| $20.8M | 0.02% |
2,165,946
-20,032
| -0.9% | -$195K |
|
|
CS
89
DELISTED
Credit Suisse Group
CS
| $17.1M | 0.02% |
789,194
-21,950
| -3% | -$512K |
|
90
IBM
IBM
$225B
| $14.3M | 0.01% |
108,692
-1,865
| -2% | -$251K |
|
91
Occidental Petroleum
OXY
$59.1B
| $13.4M | 0.01% |
198,572
-1,649
| -0.8% | -$119K |
|
92
Home Depot
HD
$328B
| $13.1M | 0.01% |
98,804
-1,778
| -2% | -$226K |
|
|
CB
93
DELISTED
CHUBB CORPORATION
CB
| $12.5M | 0.01% |
94,048
-21,692
| -19% | -$2.81M |
|
94
Procter & Gamble
PG
$333B
| $12.2M | 0.01% |
153,720
-1,450
| -0.9% | -$111K |
|
95
ExxonMobil
XOM
$643B
| $11.4M | 0.01% |
145,720
-5,232
| -3% | -$418K |
|
96
Vulcan Materials
VMC
$35.5B
| $11.3M | 0.01% |
119,155
-4,300
| -3% | -$417K |
|
97
Diageo
DEO
$51.2B
| $9.36M | 0.01% |
85,774
-1,700
| -2% | -$192K |
|
98
Boston Scientific
BSX
$67.6B
| $8.31M | 0.01% |
450,830
-22,130
| -5% | -$397K |
|
99
Amgen
AMGN
$236B
| $7.57M | 0.01% |
46,644
-1,700
| -4% | -$267K |
|
100
US Bancorp
USB
$97.2B
| $7.13M | 0.01% |
167,134
-8,100
| -5% | -$346K |
|
Similar funds
Dodge & Cox's Q4 2015 Portfolio in Review
As of Q4 2015, Dodge & Cox held 191 positions worth $102B, up 2.5% from $99.4B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q4 2015 filing shows 7 new, 31 increased, 114 reduced and 8 closed positions. Its largest new stake was Hewlett Packard: 374,271,996 shares worth $3.31B. The largest sale was HP, an estimated $2.98B.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 23% a quarter earlier, followed by Technology and Communication Services.
- Dodge & Cox's largest Q4 2015 buy was Hewlett Packard: 374,271,996 shares worth $3.31B.
- Dodge & Cox added most to American Express in Q4 2015, an estimated $898M increase.
- Dodge & Cox's biggest Q4 2015 reduction was HP, cutting an estimated $2.98B.
- Dodge & Cox fully exited UBS Group in Q4 2015, selling an estimated $566M.
- Dodge & Cox's ten largest holdings make up 35% of its $102B portfolio in Q4 2015.
- Dodge & Cox opened 7 new positions and closed 8 in Q4 2015.
- Dodge & Cox's portfolio value rose 2.5% quarter-over-quarter to $102B.
Based on Dodge & Cox's 13F filing for Q4 2015, filed 12 Feb 2016.