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 |
SLB Ltd
SLB
|
+$960M |
| 2 |
APA Corp
APA
|
+$888M |
| 3 |
Danaher
DHR
|
+$805M |
| 4 |
Cisco
CSCO
|
+$714M |
| 5 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$533M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GE Aerospace
GE
|
+$682M |
| 2 |
GSK
GSK
|
+$655M |
| 3 |
Boston Scientific
BSX
|
+$553M |
| 4 |
eBay
EBAY
|
+$476M |
| 5 |
Comcast
CMCSA
|
+$469M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.94% |
| 2 | Technology | 21.34% |
| 3 | Healthcare | 16.15% |
| 4 | Communication Services | 15.77% |
| 5 | Energy | 10.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
3M
MMM
$87.5B
| $5M | ﹤0.01% |
36,389
-158
| -0.4% | -$20.3K |
|
102
Johnson & Johnson
JNJ
$624B
| $4.63M | ﹤0.01% |
44,235
-2,860
| -6% | -$301K |
|
103
Motorola Solutions
MSI
$67.6B
| $4.56M | ﹤0.01% |
67,996
| – | – |
|
104
McDonald's
MCD
$187B
| $4.55M | ﹤0.01% |
48,547
-1,982
| -4% | -$186K |
|
105
Nucor
NUE
$54.9B
| $3.55M | ﹤0.01% |
72,400
-800
| -1% | -$41.6K |
|
|
UN
106
DELISTED
Unilever NV New York Registry Shares
UN
| $3.32M | ﹤0.01% |
85,133
-5,200
| -6% | -$203K |
|
107
Apple
AAPL
$4.72T
| $3.24M | ﹤0.01% |
117,264
-252
| -0.2% | -$6.86K |
|
|
DD
108
DELISTED
Du Pont De Nemours E I
DD
| $3.12M | ﹤0.01% |
44,487
-2,843
| -6% | -$190K |
|
109
Genuine Parts
GPC
$16.6B
| $3.02M | ﹤0.01% |
28,362
-1,100
| -4% | -$108K |
|
110
PNC Financial Services
PNC
$99.5B
| $2.75M | ﹤0.01% |
30,100
| – | – |
|
111
Eli Lilly
LLY
$1.06T
| $2.69M | ﹤0.01% |
39,004
-3,460
| -8% | -$234K |
|
|
SIAL
112
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $2.61M | ﹤0.01% |
19,000
| – | – |
|
113
Berkshire Hathaway Class B
BRK.B
$1.06T
| $2.6M | ﹤0.01% |
17,350
| – | – |
|
|
CMCSK
114
DELISTED
COMCAST CORP SPL A (NEW)
CMCSK
| $2.58M | ﹤0.01% |
44,761
-11,000
| -20% | -$633K |
|
115
Deere & Co
DE
$165B
| $2.51M | ﹤0.01% |
28,346
-1,528
| -5% | -$132K |
|
116
AbbVie
ABBV
$454B
| $2.49M | ﹤0.01% |
38,055
-794
| -2% | -$50.1K |
|
117
ConocoPhillips
COP
$146B
| $2.26M | ﹤0.01% |
32,788
-1,100
| -3% | -$76.8K |
|
118
Becton Dickinson
BDX
$42.1B
| $2.19M | ﹤0.01% |
16,123
-800
| -5% | -$102K |
|
119
PPG Industries
PPG
$25.4B
| $2.08M | ﹤0.01% |
18,000
| – | – |
|
120
Duke Energy
DUK
$101B
| $1.78M | ﹤0.01% |
21,311
-2,244
| -10% | -$181K |
|
121
Abbott
ABT
$175B
| $1.67M | ﹤0.01% |
37,068
-2,560
| -6% | -$112K |
|
122
Philip Morris
PM
$298B
| $1.65M | ﹤0.01% |
20,300
-600
| -3% | -$51.5K |
|
123
Honeywell
HON
$78B
| $1.61M | ﹤0.01% |
17,941
| – | – |
|
124
Xerox
XRX
$341M
| $1.61M | ﹤0.01% |
44,022
-21,821
| -33% | -$770K |
|
125
Coca-Cola
KO
$349B
| $1.51M | ﹤0.01% |
35,814
-9,468
| -21% | -$404K |
|
Similar funds
Dodge & Cox's Q4 2014 Portfolio in Review
As of Q4 2014, Dodge & Cox held 208 positions worth $108B, up 2.9% from $105B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q4 2014 filing shows 5 new, 51 increased, 97 reduced and 19 closed positions. Its largest new stake was Juniper Networks: 14,842,903 shares worth $331M. The largest sale was GE Aerospace, an estimated $682M.
By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 21% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q4 2014 buy was Juniper Networks: 14,842,903 shares worth $331M.
- Dodge & Cox added most to SLB Ltd in Q4 2014, an estimated $960M increase.
- Dodge & Cox's biggest Q4 2014 reduction was GE Aerospace, cutting an estimated $682M.
- Dodge & Cox fully exited Vodafone in Q4 2014, selling an estimated $4.59M.
- Dodge & Cox's ten largest holdings make up 35% of its $108B portfolio in Q4 2014.
- Dodge & Cox opened 5 new positions and closed 19 in Q4 2014.
- Dodge & Cox's portfolio value rose 2.9% quarter-over-quarter to $108B.
Based on Dodge & Cox's 13F filing for Q4 2014, filed 13 Feb 2015.