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 |
Charter Communications
CHTR
|
+$2.44B |
| 2 |
Anadarko Petroleum
APC
|
+$467M |
| 3 |
MetLife
MET
|
+$358M |
| 4 |
Union Pacific
UNP
|
+$248M |
| 5 |
JD.com
JD
|
+$240M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$3.73B |
| 2 |
ADT Corp
ADT
|
+$843M |
| 3 |
SLB Ltd
SLB
|
+$614M |
| 4 |
Teck Resources
TECK
|
+$442M |
| 5 |
EMC CORPORATION
EMC
|
+$432M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.42% |
| 2 | Technology | 21.75% |
| 3 | Communication Services | 16.84% |
| 4 | Healthcare | 15.78% |
| 5 | Energy | 11.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
76
GE Aerospace
GE
$320B
| $50.8M | 0.05% |
336,933
-45,827
| -12% | -$6.69M |
2013 Q2
12 quarters
|
|
77
DELISTED
Juniper Networks
JNPR
| $42.2M | 0.04% |
1,877,139
-17,700
| -0.9% | -$412K |
2014 Q4
6 quarters
|
|
78
Pfizer
PFE
$162B
| $29.2M | 0.03% |
875,432
-104,371
| -11% | -$3.33M |
2013 Q2
12 quarters
|
|
79
Cadence Design Systems
CDNS
$96B
| $29M | 0.03% |
1,194,535
-214,754
| -15% | -$5.14M |
2013 Q2
12 quarters
|
|
80
Travelers Companies
TRV
$77.5B
| $23.5M | 0.02% |
197,333
-3,712
| -2% | -$420K |
2013 Q2
12 quarters
|
|
81
DELISTED
SunTrust Banks, Inc.
STI
| $22.9M | 0.02% |
557,099
-34,450
| -6% | -$1.41M |
2013 Q2
12 quarters
|
|
82
DuPont de Nemours
DD
$17.5B
| $20.8M | 0.02% |
165,606
-15,578
| -9% | -$2.05M |
2013 Q2
12 quarters
|
|
83
Adobe
ADBE
$92.7B
| $20.4M | 0.02% |
213,264
-38,864
| -15% | -$3.73M |
2013 Q2
12 quarters
|
|
84
Ericsson
ERIC
$30.5B
| $17M | 0.02% |
2,216,336
+70,150
| +3% | +$575K |
2013 Q2
12 quarters
|
|
|
CS
85
DELISTED
Credit Suisse Group
CS
| $15.2M | 0.02% |
1,424,729
+546,042
| +62% | +$7.45M |
2013 Q2
12 quarters
|
|
86
IBM
IBM
$214B
| $15.1M | 0.01% |
104,136
-2,221
| -2% | -$318K |
2013 Q2
12 quarters
|
|
87
Occidental Petroleum
OXY
$61.1B
| $14.4M | 0.01% |
190,184
-5,800
| -3% | -$433K |
2013 Q2
12 quarters
|
|
88
ExxonMobil
XOM
$708B
| $13.3M | 0.01% |
141,970
-3,000
| -2% | -$265K |
2013 Q2
12 quarters
|
|
89
eBay
EBAY
$51B
| $13.2M | 0.01% |
562,313
-137,410
| -20% | -$3.32M |
2013 Q2
12 quarters
|
|
90
Procter & Gamble
PG
$356B
| $12.8M | 0.01% |
151,563
-300
| -0.2% | -$24.6K |
2013 Q2
12 quarters
|
|
91
Vulcan Materials
VMC
$31.8B
| $12.1M | 0.01% |
100,405
-11,150
| -10% | -$1.26M |
2013 Q2
12 quarters
|
|
92
Home Depot
HD
$290B
| $11.1M | 0.01% |
86,555
-6,000
| -6% | -$793K |
2013 Q2
12 quarters
|
|
93
PayPal
PYPL
$47.9B
| $9.07M | 0.01% |
248,563
-187,825
| -43% | -$7.18M |
2015 Q3
3 quarters
|
|
94
Boston Scientific
BSX
$63.6B
| $9M | 0.01% |
384,930
-42,500
| -10% | -$919K |
2013 Q2
12 quarters
|
|
95
Diageo
DEO
$49.3B
| $8.34M | 0.01% |
73,874
-5,800
| -7% | -$627K |
2013 Q2
12 quarters
|
|
96
Walt Disney
DIS
$187B
| $6.62M | 0.01% |
67,656
+2,000
| +3% | +$200K |
2013 Q2
12 quarters
|
|
97
US Bancorp
USB
$89.5B
| $6.29M | 0.01% |
155,934
-800
| -0.5% | -$33.3K |
2013 Q2
12 quarters
|
|
98
Amgen
AMGN
$226B
| $6.28M | 0.01% |
41,257
-2,300
| -5% | -$358K |
2013 Q2
12 quarters
|
|
99
Bristol-Myers Squibb
BMY
$118B
| $5.31M | 0.01% |
72,158
-1,300
| -2% | -$91.9K |
2013 Q2
12 quarters
|
|
100
Motorola Solutions
MSI
$73.9B
| $4.39M | ﹤0.01% |
66,596
| – | – |
2013 Q2
12 quarters
|
|
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Dodge & Cox's Q2 2016 Portfolio in Review
As of Q2 2016, Dodge & Cox held 196 positions worth $101B, down 0.95% from $102B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Dodge & Cox's Q2 2016 filing shows 5 new, 37 increased, 102 reduced and 21 closed positions. Its largest new stake was Charter Communications: 11,347,398 shares worth $2.59B. The largest sale was TIME WARNER CABLE INC NEW COM STK, an estimated $3.73B.
By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 22% a quarter earlier, followed by Technology and Communication Services.
- Dodge & Cox's largest Q2 2016 buy was Charter Communications: 11,347,398 shares worth $2.59B.
- Dodge & Cox added most to Anadarko Petroleum in Q2 2016, an estimated $467M increase.
- Dodge & Cox's biggest Q2 2016 reduction was SLB Ltd, cutting an estimated $614M.
- Dodge & Cox fully exited TIME WARNER CABLE INC NEW COM STK in Q2 2016, selling an estimated $3.73B.
- Dodge & Cox's ten largest holdings make up 32% of its $101B portfolio in Q2 2016.
- Dodge & Cox opened 5 new positions and closed 21 in Q2 2016.
- Dodge & Cox's portfolio value fell 0.95% quarter-over-quarter to $101B.
Based on Dodge & Cox's 13F filing for Q2 2016, filed 12 Aug 2016.