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 |
Target
TGT
|
+$991M |
| 2 |
Walmart Inc
WMT
|
+$733M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$680M |
| 4 |
EMC
EMC CORPORATION
EMC
|
+$544M |
| 5 |
ESRX
Express Scripts Holding Company
ESRX
|
+$443M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GE Aerospace
GE
|
+$526M |
| 2 |
Pfizer
PFE
|
+$457M |
| 3 |
SLB Ltd
SLB
|
+$400M |
| 4 |
FRX
FOREST LABORATORIES INC
FRX
|
+$358M |
| 5 |
DuPont de Nemours
DD
|
+$330M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.98% |
| 2 | Technology | 20.42% |
| 3 | Healthcare | 17.61% |
| 4 | Communication Services | 14.02% |
| 5 | Energy | 12.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Bristol-Myers Squibb
BMY
$126B
| $3.83M | ﹤0.01% |
78,921
-200
| -0.3% | -$9.86K |
|
|
UN
102
DELISTED
Unilever NV New York Registry Shares
UN
| $3.82M | ﹤0.01% |
87,333
-1,184
| -1% | -$50.8K |
|
|
CMCSK
103
DELISTED
COMCAST CORP SPL A (NEW)
CMCSK
| $3.77M | ﹤0.01% |
70,761
-5,500
| -7% | -$293K |
|
104
Nucor
NUE
$55B
| $3.57M | ﹤0.01% |
72,400
| – | – |
|
105
Xerox
XRX
$333M
| $3.56M | ﹤0.01% |
108,613
-84,447
| -44% | -$2.68M |
|
106
ConocoPhillips
COP
$149B
| $3.08M | ﹤0.01% |
35,888
-4,750
| -12% | -$370K |
|
|
DD
107
DELISTED
Du Pont De Nemours E I
DD
| $2.94M | ﹤0.01% |
47,330
-922
| -2% | -$59.2K |
|
108
Genuine Parts
GPC
$16.6B
| $2.87M | ﹤0.01% |
32,662
-700
| -2% | -$60.2K |
|
109
Deere & Co
DE
$164B
| $2.71M | ﹤0.01% |
29,924
-100
| -0.3% | -$9.2K |
|
110
PNC Financial Services
PNC
$98.9B
| $2.68M | ﹤0.01% |
30,100
| – | – |
|
|
CPWR
111
DELISTED
COMPUWARE CORP
CPWR
| $2.3M | ﹤0.01% |
239,846
-11,347
| -5% | -$111K |
|
112
Berkshire Hathaway Class B
BRK.B
$1.06T
| $2.2M | ﹤0.01% |
17,350
| – | – |
|
113
Eli Lilly
LLY
$1.06T
| $2.19M | ﹤0.01% |
35,274
-486
| -1% | -$29K |
|
|
SIAL
114
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $2.08M | ﹤0.01% |
20,500
| – | – |
|
115
AbbVie
ABBV
$455B
| $2.07M | ﹤0.01% |
36,649
-52
| -0.1% | -$2.73K |
|
116
Becton Dickinson
BDX
$42.5B
| $1.99M | ﹤0.01% |
17,200
-102
| -0.6% | -$11.6K |
|
117
PPG Industries
PPG
$25.5B
| $1.89M | ﹤0.01% |
18,000
| – | – |
|
118
Duke Energy
DUK
$101B
| $1.8M | ﹤0.01% |
24,221
-100
| -0.4% | -$7.19K |
|
119
Philip Morris
PM
$300B
| $1.8M | ﹤0.01% |
21,300
| – | – |
|
|
UFS
120
DELISTED
DOMTAR CORPORATION (New)
UFS
| $1.61M | ﹤0.01% |
37,470
-4,644
| -11% | -$218K |
|
121
Honeywell
HON
$78.6B
| $1.57M | ﹤0.01% |
18,753
-667
| -3% | -$55.8K |
|
122
Abbott
ABT
$177B
| $1.51M | ﹤0.01% |
36,898
-52
| -0.1% | -$2.04K |
|
123
Coca-Cola
KO
$351B
| $1.5M | ﹤0.01% |
35,442
| – | – |
|
124
NextEra Energy
NEE
$189B
| $1.45M | ﹤0.01% |
56,396
| – | – |
|
125
Air Products & Chemicals
APD
$66.2B
| $1.41M | ﹤0.01% |
11,837
| – | – |
|
Similar funds
Dodge & Cox's Q2 2014 Portfolio in Review
As of Q2 2014, Dodge & Cox held 168 positions worth $105B, up 7.2% from $97.8B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Trading was light in Q2 2014: portfolio turnover was 2.4%. Dodge & Cox opened 3 new positions and exited 1, leaving the 168-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 22% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q2 2014 buy was Time Inc.: 8,123,224 shares worth $197M.
- Dodge & Cox added most to Target in Q2 2014, an estimated $991M increase.
- Dodge & Cox's biggest Q2 2014 reduction was GE Aerospace, cutting an estimated $526M.
- Dodge & Cox fully exited RTX Corp in Q2 2014, selling an estimated $205K.
- Dodge & Cox's ten largest holdings make up 35% of its $105B portfolio in Q2 2014.
- Dodge & Cox opened 3 new positions and closed 1 in Q2 2014.
- Dodge & Cox's portfolio value rose 7.2% quarter-over-quarter to $105B.
Based on Dodge & Cox's 13F filing for Q2 2014, filed 13 Aug 2014.