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 |
Booking.com
BKNG
|
+$812M |
| 2 |
EMC
EMC CORPORATION
EMC
|
+$745M |
| 3 |
Petrobras Class A
PBR.A
|
+$482M |
| 4 |
Cisco
CSCO
|
+$443M |
| 5 |
HP
HPQ
|
+$402M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GSK
GSK
|
+$494M |
| 2 |
AOL
AOL INC COMMON STOCK
AOL
|
+$464M |
| 3 |
CarMax
KMX
|
+$435M |
| 4 |
BNY
Bank of New York Mellon
BNY
|
+$376M |
| 5 |
Nokia
NOK
|
+$232M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.33% |
| 2 | Technology | 19.62% |
| 3 | Healthcare | 16.6% |
| 4 | Communication Services | 16.32% |
| 5 | Energy | 11.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Apple
AAPL
$4.72T
| $3.39M | ﹤0.01% |
107,988
-1,876
| -2% | -$60K |
|
102
Nucor
NUE
$55B
| $3.19M | ﹤0.01% |
72,400
| – | – |
|
103
McDonald's
MCD
$187B
| $3.01M | ﹤0.01% |
31,692
-9,400
| -23% | -$909K |
|
104
HSBC
HSBC
$350B
| $2.83M | ﹤0.01% |
70,947
-181,773
| -72% | -$7.57M |
|
|
UN
105
DELISTED
Unilever NV New York Registry Shares
UN
| $2.81M | ﹤0.01% |
67,233
-6,100
| -8% | -$263K |
|
106
Deere & Co
DE
$164B
| $2.75M | ﹤0.01% |
28,346
| – | – |
|
107
Eli Lilly
LLY
$1.06T
| $2.73M | ﹤0.01% |
32,634
-3,600
| -10% | -$274K |
|
|
SIAL
108
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $2.65M | ﹤0.01% |
19,000
| – | – |
|
|
DD
109
DELISTED
Du Pont De Nemours E I
DD
| $2.64M | ﹤0.01% |
43,434
-316
| -0.7% | -$21.3K |
|
|
CMCSK
110
DELISTED
COMCAST CORP SPL A (NEW)
CMCSK
| $2.35M | ﹤0.01% |
39,261
| – | – |
|
111
AbbVie
ABBV
$455B
| $2.3M | ﹤0.01% |
34,255
-800
| -2% | -$52.2K |
|
112
Genuine Parts
GPC
$16.7B
| $2.28M | ﹤0.01% |
25,462
-1,800
| -7% | -$166K |
|
113
PNC Financial Services
PNC
$98.9B
| $2.24M | ﹤0.01% |
23,400
-2,100
| -8% | -$199K |
|
114
Berkshire Hathaway Class B
BRK.B
$1.06T
| $2.22M | ﹤0.01% |
16,300
-1,000
| -6% | -$143K |
|
115
Becton Dickinson
BDX
$42.5B
| $2.16M | ﹤0.01% |
15,619
-94
| -0.6% | -$13K |
|
|
LVNTA
116
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $2.09M | ﹤0.01% |
53,113
-30,174
| -36% | -$1.27M |
|
117
PPG Industries
PPG
$25.5B
| $2.06M | ﹤0.01% |
18,000
| – | – |
|
118
ConocoPhillips
COP
$149B
| $1.85M | ﹤0.01% |
30,188
| – | – |
|
119
Philip Morris
PM
$301B
| $1.59M | ﹤0.01% |
19,900
| – | – |
|
120
Abbott
ABT
$177B
| $1.53M | ﹤0.01% |
31,268
-800
| -2% | -$38.4K |
|
121
Coca-Cola
KO
$351B
| $1.34M | ﹤0.01% |
34,242
| – | – |
|
122
Altria Group
MO
$121B
| $1.16M | ﹤0.01% |
23,800
| – | – |
|
123
NextEra Energy
NEE
$189B
| $1.14M | ﹤0.01% |
46,400
-400
| -0.9% | -$10.2K |
|
124
Duke Energy
DUK
$101B
| $1.09M | ﹤0.01% |
15,445
-3,150
| -17% | -$238K |
|
|
125
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.02M | ﹤0.01% |
5
| – | – |
|
Similar funds
Dodge & Cox's Q2 2015 Portfolio in Review
As of Q2 2015, Dodge & Cox held 187 positions worth $111B, up 2.2% from $109B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Trading was light in Q2 2015: portfolio turnover was 4.3%. Dodge & Cox opened 1 new position and exited 7, leaving the 187-position portfolio largely intact.
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 Q2 2015 buy was Booking.com: 17,019,125 shares worth $784M.
- Dodge & Cox added most to EMC CORPORATION in Q2 2015, an estimated $745M increase.
- Dodge & Cox's biggest Q2 2015 reduction was GSK, cutting an estimated $494M.
- Dodge & Cox fully exited AOL INC COMMON STOCK in Q2 2015, selling an estimated $464M.
- Dodge & Cox's ten largest holdings make up 35% of its $111B portfolio in Q2 2015.
- Dodge & Cox opened 1 new position and closed 7 in Q2 2015.
- Dodge & Cox's portfolio value rose 2.2% quarter-over-quarter to $111B.
Based on Dodge & Cox's 13F filing for Q2 2015, filed 13 Aug 2015.