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
| 1 |
VMW
VMware, Inc
VMW
|
+$2.25B |
| 2 |
FISV
Fiserv Inc
FISV
|
+$1.02B |
| 3 |
Meta Platforms (Facebook)
META
|
+$973M |
| 4 |
AB InBev
BUD
|
+$875M |
| 5 |
FedEx
FDX
|
+$727M |
Top Sells
| 1 |
Dell
DELL
|
+$2.21B |
| 2 |
Microsoft
MSFT
|
+$716M |
| 3 |
American Express
AXP
|
+$597M |
| 4 |
APA Corp
APA
|
+$401M |
| 5 |
Wells Fargo
WFC
|
+$304M |
Sector Composition
| 1 | Financials | 24.36% |
| 2 | Technology | 18.85% |
| 3 | Healthcare | 17.34% |
| 4 | Communication Services | 14.97% |
| 5 | Industrials | 8.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Liberty Global Class C
LBTYK
$3.56B
| $325M | 0.2% |
11,577,165
-4,706,244
| -29% | -$134M |
|
77
Lincoln National
LNC
$7.81B
| $295M | 0.18% |
4,319,907
-962,500
| -18% | -$67.9M |
|
78
XP
XP
$8.46B
| $264M | 0.16% |
+9,178,691
| New | +$299M |
|
79
LyondellBasell Industries
LYB
$18.8B
| $253M | 0.16% |
2,740,531
+649,300
| +31% | +$60.3M |
|
80
News Corp Class A
NWSA
$15B
| $249M | 0.15% |
11,154,933
-614,645
| -5% | -$14M |
|
81
Halliburton
HAL
$29.4B
| $227M | 0.14% |
9,924,610
-1,305,475
| -12% | -$30.9M |
|
|
MFGP
82
DELISTED
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
| $191M | 0.12% |
34,295,081
-72,651
| -0.2% | -$370K |
|
83
Occidental Petroleum Corp Warrants
OXY.WS
$30.9B
| $190M | 0.12% |
15,087,875
-45,119
| -0.3% | -$619K |
|
84
Coherent
COHR
$60.1B
| $190M | 0.12% |
+2,782,089
| New | +$175M |
|
85
Regeneron Pharmaceuticals
REGN
$69.5B
| $176M | 0.11% |
+279,122
| New | +$172M |
|
86
Jackson Financial
JXN
$8.42B
| $160M | 0.1% |
3,819,494
+40,700
| +1% | +$1.33M |
|
87
Liberty Global Class A
LBTYA
$3.69B
| $135M | 0.08% |
4,870,358
-3,015,393
| -38% | -$85.8M |
|
88
Itaú Unibanco
ITUB
$93.4B
| $97.7M | 0.06% |
29,526,892
-3,549,503
| -11% | -$12.8M |
|
89
NetEase
NTES
$84.1B
| $94.9M | 0.06% |
932,300
+925,100
| +12,849% | +$94M |
|
90
JPMorgan Chase
JPM
$896B
| $83.1M | 0.05% |
524,836
-29,605
| -5% | -$4.86M |
|
91
Union Pacific
UNP
$172B
| $75.4M | 0.05% |
299,433
-3,281
| -1% | -$777K |
|
92
Walt Disney
DIS
$167B
| $69.2M | 0.04% |
446,654
-10,138
| -2% | -$1.64M |
|
93
Cadence Design Systems
CDNS
$104B
| $58.6M | 0.04% |
314,317
-2,672
| -0.8% | -$466K |
|
94
ICICI Bank
IBN
$105B
| $54.6M | 0.03% |
2,758,000
-343,000
| -11% | -$6.78M |
|
95
AstraZeneca
AZN
$263B
| $47.6M | 0.03% |
408,948
-12,985
| -3% | -$1.53M |
|
96
Target
TGT
$61.2B
| $32.1M | 0.02% |
138,725
-4,026
| -3% | -$979K |
|
97
Chevron
CVX
$363B
| $31.1M | 0.02% |
264,842
-6,750
| -2% | -$767K |
|
98
Eli Lilly
LLY
$1.05T
| $22.4M | 0.01% |
81,108
-3,600
| -4% | -$913K |
|
99
Thermo Fisher Scientific
TMO
$196B
| $21.1M | 0.01% |
31,604
-327
| -1% | -$204K |
|
100
Travelers Companies
TRV
$72.6B
| $19.8M | 0.01% |
126,385
-1,025
| -0.8% | -$160K |
|
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