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 |
APA Corp
APA
|
+$468M |
| 2 |
Sprint Corporation
S
|
+$437M |
| 3 |
UnitedHealth
UNH
|
+$366M |
| 4 |
Microsoft
MSFT
|
+$305M |
| 5 |
ADT Corp
ADT
|
+$247M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FON
SPRINT CORP FON COM
FON
|
+$1.76B |
| 2 |
Xerox
XRX
|
+$625M |
| 3 |
PC
PANASONIC CORP ADR (REP 1 SHR COM STK) (JP)
PC
|
+$347M |
| 4 |
Adobe
ADBE
|
+$282M |
| 5 |
Vodafone
VOD
|
+$252M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.99% |
| 2 | Technology | 19.81% |
| 3 | Healthcare | 18.2% |
| 4 | Communication Services | 15.23% |
| 5 | Energy | 10.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
101
3M
MMM
$83.2B
| $3.8M | ﹤0.01% |
38,018
-724
| -2% | -$70.4K |
2013 Q2
1 quarter
|
|
102
Bristol-Myers Squibb
BMY
$117B
| $3.71M | ﹤0.01% |
80,121
| – | – |
2013 Q2
1 quarter
|
|
103
Nucor
NUE
$57.6B
| $3.55M | ﹤0.01% |
72,400
| – | – |
2013 Q2
1 quarter
|
|
104
DELISTED
Unilever NV New York Registry Shares
UN
| $3.36M | ﹤0.01% |
89,017
-200
| -0.2% | -$7.91K |
2013 Q2
1 quarter
|
|
105
Johnson & Johnson
JNJ
$634B
| $3.36M | ﹤0.01% |
38,725
| – | – |
2013 Q2
1 quarter
|
|
|
CMCSK
106
DELISTED
COMCAST CORP SPL A (NEW)
CMCSK
| $3.34M | ﹤0.01% |
76,961
-13,300
| -15% | -$577K |
2013 Q2
1 quarter
|
|
107
ConocoPhillips
COP
$165B
| $3.16M | ﹤0.01% |
45,438
-1,050
| -2% | -$70.1K |
2013 Q2
1 quarter
|
|
108
Pitney Bowes
PBI
$2.34B
| $3M | ﹤0.01% |
165,100
-2,140,624
| -93% | -$35.1M |
2013 Q2
1 quarter
|
|
109
Genuine Parts
GPC
$17.7B
| $2.81M | ﹤0.01% |
34,762
-640
| -2% | -$51.9K |
2013 Q2
1 quarter
|
|
110
DELISTED
Du Pont De Nemours E I
DD
| $2.69M | ﹤0.01% |
48,462
| – | – |
2013 Q2
1 quarter
|
|
111
Deere & Co
DE
$170B
| $2.5M | ﹤0.01% |
30,694
-600
| -2% | -$50K |
2013 Q2
1 quarter
|
|
112
PNC Financial Services
PNC
$88.2B
| $2.19M | ﹤0.01% |
30,200
| – | – |
2013 Q2
1 quarter
|
|
113
Berkshire Hathaway Class B
BRK.B
$1.11T
| $1.98M | ﹤0.01% |
17,450
-100
| -0.6% | -$11.5K |
2013 Q2
1 quarter
|
|
114
Philip Morris
PM
$315B
| $1.84M | ﹤0.01% |
21,300
| – | – |
2013 Q2
1 quarter
|
|
115
Eli Lilly
LLY
$1.05T
| $1.8M | ﹤0.01% |
35,760
-200
| -0.6% | -$10.5K |
2013 Q2
1 quarter
|
|
|
SIAL
116
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $1.79M | ﹤0.01% |
21,000
-1,000
| -5% | -$84.1K |
2013 Q2
1 quarter
|
|
117
Becton Dickinson
BDX
$51.2B
| $1.75M | ﹤0.01% |
17,917
-3,075
| -15% | -$301K |
2013 Q2
1 quarter
|
|
118
Duke Energy
DUK
$91.7B
| $1.7M | ﹤0.01% |
25,414
-1,000
| -4% | -$68.2K |
2013 Q2
1 quarter
|
|
119
AbbVie
ABBV
$493B
| $1.66M | ﹤0.01% |
37,165
-100
| -0.3% | -$4.43K |
2013 Q2
1 quarter
|
|
120
PPG Industries
PPG
$23.1B
| $1.5M | ﹤0.01% |
18,000
| – | – |
2013 Q2
1 quarter
|
|
121
Honeywell
HON
$66.6B
| $1.45M | ﹤0.01% |
19,362
| – | – |
2013 Q2
1 quarter
|
|
122
Coca-Cola
KO
$384B
| $1.34M | ﹤0.01% |
35,442
| – | – |
2013 Q2
1 quarter
|
|
123
Rio Tinto
RIO
$154B
| $1.31M | ﹤0.01% |
26,912
-400
| -1% | -$18.7K |
2013 Q2
1 quarter
|
|
124
Abbott
ABT
$176B
| $1.23M | ﹤0.01% |
36,930
-300
| -0.8% | -$10.5K |
2013 Q2
1 quarter
|
|
125
Air Products & Chemicals
APD
$63.2B
| $1.17M | ﹤0.01% |
11,837
| – | – |
2013 Q2
1 quarter
|
|
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Dodge & Cox's Q3 2013 Portfolio in Review
As of Q3 2013, Dodge & Cox held 170 positions worth $88B, up 4.6% from $84.2B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q3 2013 filing shows 4 new, 27 increased, 95 reduced and 6 closed positions. Its largest new stake was Sprint Corporation: 66,353,287 shares worth $412M. The largest sale was SPRINT CORP FON COM, an estimated $1.76B.
By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q3 2013 buy was Sprint Corporation: 66,353,287 shares worth $412M.
- Dodge & Cox added most to APA Corp in Q3 2013, an estimated $468M increase.
- Dodge & Cox's biggest Q3 2013 reduction was Xerox, cutting an estimated $625M.
- Dodge & Cox fully exited SPRINT CORP FON COM in Q3 2013, selling an estimated $1.76B.
- Dodge & Cox's ten largest holdings make up 35% of its $88B portfolio in Q3 2013.
- Dodge & Cox opened 4 new positions and closed 6 in Q3 2013.
- Dodge & Cox's portfolio value rose 4.6% quarter-over-quarter to $88B.
Based on Dodge & Cox's 13F filing for Q3 2013, filed 13 Nov 2013.