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 |
Union Pacific
UNP
|
+$925M |
| 2 |
JD.com
JD
|
+$579M |
| 3 |
American Express
AXP
|
+$537M |
| 4 |
AstraZeneca
AZN
|
+$429M |
| 5 |
Goldman Sachs
GS
|
+$416M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$715M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$469M |
| 3 |
TE Connectivity
TEL
|
+$372M |
| 4 |
Cadence Design Systems
CDNS
|
+$272M |
| 5 |
Gen Digital
GEN
|
+$264M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.25% |
| 2 | Financials | 22.15% |
| 3 | Communication Services | 17.88% |
| 4 | Healthcare | 14.29% |
| 5 | Energy | 10.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Liberty Latin America Class C
LILAK
$1.62B
| $36.4M | 0.04% |
1,122,134
+1,051
| +0.1% | +$33.4K |
|
|
77
Cadence Design Systems
CDNS
$95.7B
| $33.2M | 0.03% |
1,409,289
-12,977,111
| -90% | -$272M |
|
78
Pfizer
PFE
$160B
| $27.6M | 0.03% |
979,803
-1,384,507
| -59% | -$39.5M |
|
79
Adobe
ADBE
$115B
| $23.6M | 0.02% |
252,128
-21,700
| -8% | -$1.88M |
|
80
Travelers Companies
TRV
$77B
| $23.5M | 0.02% |
201,045
-2,100
| -1% | -$229K |
|
81
DuPont de Nemours
DD
$18.7B
| $23.3M | 0.02% |
181,184
-5,509
| -3% | -$660K |
|
82
Ericsson
ERIC
$33B
| $21.5M | 0.02% |
2,146,186
-19,760
| -0.9% | -$182K |
|
|
STI
83
DELISTED
SunTrust Banks, Inc.
STI
| $21.3M | 0.02% |
591,549
-78,610
| -12% | -$2.83M |
|
|
84
Liberty Latin America Class A
LILA
$1.63B
| $20.4M | 0.02% |
908,291
-24
| -0% | -$535 |
|
85
PayPal
PYPL
$52.6B
| $16.8M | 0.02% |
436,388
-377,224
| -46% | -$13.6M |
|
86
eBay
EBAY
$45.5B
| $16.7M | 0.02% |
699,723
-3,648,683
| -84% | -$88.8M |
|
87
IBM
IBM
$225B
| $15.4M | 0.02% |
106,357
-2,335
| -2% | -$298K |
|
88
Occidental Petroleum
OXY
$59.1B
| $13.4M | 0.01% |
195,984
-2,588
| -1% | -$173K |
|
89
Procter & Gamble
PG
$333B
| $12.5M | 0.01% |
151,863
-1,857
| -1% | -$150K |
|
|
CS
90
DELISTED
Credit Suisse Group
CS
| $12.4M | 0.01% |
878,687
+89,493
| +11% | +$1.42M |
|
91
Home Depot
HD
$328B
| $12.3M | 0.01% |
92,555
-6,249
| -6% | -$779K |
|
92
ExxonMobil
XOM
$643B
| $12.1M | 0.01% |
144,970
-750
| -0.5% | -$60.1K |
|
93
Vulcan Materials
VMC
$35.5B
| $11.8M | 0.01% |
111,555
-7,600
| -6% | -$720K |
|
94
Diageo
DEO
$51.2B
| $8.59M | 0.01% |
79,674
-6,100
| -7% | -$645K |
|
95
Boston Scientific
BSX
$67.6B
| $8.04M | 0.01% |
427,430
-23,400
| -5% | -$411K |
|
96
Amgen
AMGN
$236B
| $6.53M | 0.01% |
43,557
-3,087
| -7% | -$459K |
|
97
Walt Disney
DIS
$184B
| $6.52M | 0.01% |
65,656
-465
| -0.7% | -$44.9K |
|
98
US Bancorp
USB
$97.2B
| $6.36M | 0.01% |
156,734
-10,400
| -6% | -$415K |
|
99
Motorola Solutions
MSI
$80.5B
| $5.04M | ﹤0.01% |
66,596
| – | – |
|
100
Unilever
UL
$139B
| $4.99M | ﹤0.01% |
98,139
-16,355
| -14% | -$796K |
|
Similar funds
Dodge & Cox's Q1 2016 Portfolio in Review
As of Q1 2016, Dodge & Cox held 196 positions worth $102B, up 0.31% from $102B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Dodge & Cox's Q1 2016 filing shows 13 new, 56 increased, 96 reduced and 5 closed positions. Its largest new stake was Chubb: 27,301 shares worth $3.25M. The largest sale was Microsoft, an estimated $715M.
By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 23% a quarter earlier, followed by Financials and Communication Services.
- Dodge & Cox's largest Q1 2016 buy was Chubb: 27,301 shares worth $3.25M.
- Dodge & Cox added most to Union Pacific in Q1 2016, an estimated $925M increase.
- Dodge & Cox's biggest Q1 2016 reduction was Microsoft, cutting an estimated $715M.
- Dodge & Cox fully exited New Oriental in Q1 2016, selling an estimated $236M.
- Dodge & Cox's ten largest holdings make up 33% of its $102B portfolio in Q1 2016.
- Dodge & Cox opened 13 new positions and closed 5 in Q1 2016.
- Dodge & Cox's portfolio value rose 0.31% quarter-over-quarter to $102B.
Based on Dodge & Cox's 13F filing for Q1 2016, filed 13 May 2016.