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 |
eBay
EBAY
|
+$681M |
| 2 |
Cigna
CI
|
+$399M |
| 3 |
Liberty Global Class A
LBTYA
|
+$370M |
| 4 |
TYC
TYCO INTL PLC COM SHS (IRL)
TYC
|
+$207M |
| 5 |
Walmart Inc
WMT
|
+$206M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GSK
GSK
|
+$1.06B |
| 2 |
Nokia
NOK
|
+$561M |
| 3 |
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
|
+$511M |
| 4 |
HP
HPQ
|
+$477M |
| 5 |
DuPont de Nemours
DD
|
+$252M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.16% |
| 2 | Technology | 20.44% |
| 3 | Healthcare | 16.97% |
| 4 | Communication Services | 14.78% |
| 5 | Energy | 11.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Motorola Solutions
MSI
$67.6B
| $4.3M | ﹤0.01% |
67,996
-428
| -0.6% | -$26.9K |
|
102
Nucor
NUE
$54.9B
| $3.97M | ﹤0.01% |
73,200
+800
| +1% | +$42.2K |
|
|
UN
103
DELISTED
Unilever NV New York Registry Shares
UN
| $3.58M | ﹤0.01% |
90,333
+3,000
| +3% | +$125K |
|
|
DD
104
DELISTED
Du Pont De Nemours E I
DD
| $3.23M | ﹤0.01% |
47,330
| – | – |
|
|
CMCSK
105
DELISTED
COMCAST CORP SPL A (NEW)
CMCSK
| $2.98M | ﹤0.01% |
55,761
-15,000
| -21% | -$802K |
|
106
Apple
AAPL
$4.72T
| $2.96M | ﹤0.01% |
117,516
+60,760
| +107% | +$1.49M |
|
107
Eli Lilly
LLY
$1.06T
| $2.75M | ﹤0.01% |
42,464
+7,190
| +20% | +$455K |
|
108
ConocoPhillips
COP
$146B
| $2.59M | ﹤0.01% |
33,888
-2,000
| -6% | -$164K |
|
109
Genuine Parts
GPC
$16.6B
| $2.58M | ﹤0.01% |
29,462
-3,200
| -10% | -$278K |
|
|
SIAL
110
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $2.58M | ﹤0.01% |
19,000
-1,500
| -7% | -$159K |
|
111
PNC Financial Services
PNC
$99.5B
| $2.58M | ﹤0.01% |
30,100
| – | – |
|
112
Deere & Co
DE
$165B
| $2.45M | ﹤0.01% |
29,874
-50
| -0.2% | -$4.28K |
|
113
Berkshire Hathaway Class B
BRK.B
$1.06T
| $2.4M | ﹤0.01% |
17,350
| – | – |
|
114
Xerox
XRX
$341M
| $2.29M | ﹤0.01% |
65,843
-42,770
| -39% | -$1.49M |
|
115
AbbVie
ABBV
$454B
| $2.24M | ﹤0.01% |
38,849
+2,200
| +6% | +$122K |
|
|
CPWR
116
DELISTED
COMPUWARE CORP
CPWR
| $2.21M | ﹤0.01% |
217,049
-22,797
| -10% | -$214K |
|
117
Coca-Cola
KO
$349B
| $1.93M | ﹤0.01% |
45,282
+9,840
| +28% | +$407K |
|
118
Becton Dickinson
BDX
$42.1B
| $1.88M | ﹤0.01% |
16,923
-277
| -2% | -$31.6K |
|
119
PPG Industries
PPG
$25.4B
| $1.77M | ﹤0.01% |
18,000
| – | – |
|
120
Duke Energy
DUK
$101B
| $1.76M | ﹤0.01% |
23,555
-666
| -3% | -$48.6K |
|
121
Philip Morris
PM
$298B
| $1.74M | ﹤0.01% |
20,900
-400
| -2% | -$33.8K |
|
122
Abbott
ABT
$175B
| $1.65M | ﹤0.01% |
39,628
+2,730
| +7% | +$115K |
|
|
APC
123
DELISTED
Anadarko Petroleum
APC
| $1.5M | ﹤0.01% |
14,809
+3,845
| +35% | +$415K |
|
124
Honeywell
HON
$78B
| $1.5M | ﹤0.01% |
17,941
-812
| -4% | -$69K |
|
125
Air Products & Chemicals
APD
$65.5B
| $1.44M | ﹤0.01% |
11,979
+142
| +1% | +$17.4K |
|
Similar funds
Dodge & Cox's Q3 2014 Portfolio in Review
As of Q3 2014, Dodge & Cox held 207 positions worth $105B, down 0.3% from $105B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q3 2014 filing shows 40 new, 53 increased, 86 reduced and 4 closed positions. Its largest new stake was New Oriental: 4,002,900 shares worth $92.9M. The largest sale was GSK, an estimated $1.06B.
By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 21% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q3 2014 buy was New Oriental: 4,002,900 shares worth $92.9M.
- Dodge & Cox added most to eBay in Q3 2014, an estimated $681M increase.
- Dodge & Cox's biggest Q3 2014 reduction was GSK, cutting an estimated $1.06B.
- Dodge & Cox fully exited FOREST LABORATORIES INC in Q3 2014, selling an estimated $4.46M.
- Dodge & Cox's ten largest holdings make up 35% of its $105B portfolio in Q3 2014.
- Dodge & Cox opened 40 new positions and closed 4 in Q3 2014.
- Dodge & Cox's portfolio value fell 0.3% quarter-over-quarter to $105B.
Based on Dodge & Cox's 13F filing for Q3 2014, filed 13 Nov 2014.