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 |
Union Pacific
UNP
|
+$925M |
| 2 |
JD.com
JD
|
+$579M |
| 3 |
American Express
AXP
|
+$537M |
| 4 |
AstraZeneca
AZN
|
+$429M |
| 5 |
Goldman Sachs
GS
|
+$416M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$715M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$469M |
| 3 |
TE Connectivity
TEL
|
+$372M |
| 4 |
Cadence Design Systems
CDNS
|
+$272M |
| 5 |
Gen Digital
GEN
|
+$264M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.25% |
| 2 | Financials | 22.15% |
| 3 | Communication Services | 17.88% |
| 4 | Healthcare | 14.29% |
| 5 | Energy | 10.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Bristol-Myers Squibb
BMY
$137B
| $4.69M | ﹤0.01% |
73,458
-4,000
| -5% | -$252K |
|
102
Caterpillar
CAT
$376B
| $4.41M | ﹤0.01% |
57,548
-600
| -1% | -$40.2K |
|
103
3M
MMM
$92.2B
| $3.8M | ﹤0.01% |
27,258
-60
| -0.2% | -$7.71K |
|
104
Johnson & Johnson
JNJ
$640B
| $3.77M | ﹤0.01% |
34,808
-627
| -2% | -$64.9K |
|
105
CarMax
KMX
$8.89B
| $3.76M | ﹤0.01% |
73,640
-2,865
| -4% | -$135K |
|
106
Nucor
NUE
$57.3B
| $3.42M | ﹤0.01% |
72,400
| – | – |
|
107
GSK
GSK
$101B
| $3.29M | ﹤0.01% |
65,010
-25,216
| -28% | -$1.26M |
|
108
Chubb
CB
$131B
| $3.25M | ﹤0.01% |
+27,301
| New | +$3.14M |
|
109
McDonald's
MCD
$184B
| $3.21M | ﹤0.01% |
25,506
-1,886
| -7% | -$225K |
|
|
UN
110
DELISTED
Unilever NV New York Registry Shares
UN
| $2.83M | ﹤0.01% |
63,447
-200
| -0.3% | -$8.61K |
|
111
Apple
AAPL
$4.59T
| $2.66M | ﹤0.01% |
97,604
+2,800
| +3% | +$69.8K |
|
112
Genuine Parts
GPC
$18.8B
| $2.34M | ﹤0.01% |
23,562
-100
| -0.4% | -$8.87K |
|
113
Berkshire Hathaway Class B
BRK.B
$1.08T
| $2.3M | ﹤0.01% |
16,200
| – | – |
|
114
Becton Dickinson
BDX
$51.2B
| $2.27M | ﹤0.01% |
15,303
+153
| +1% | +$21.7K |
|
115
Eli Lilly
LLY
$1.05T
| $2.25M | ﹤0.01% |
31,192
-400
| -1% | -$30.3K |
|
|
DD
116
DELISTED
Du Pont De Nemours E I
DD
| $2.21M | ﹤0.01% |
34,866
+2,310
| +7% | +$138K |
|
117
Deere & Co
DE
$168B
| $2.06M | ﹤0.01% |
26,816
-525
| -2% | -$41.1K |
|
118
PPG Industries
PPG
$25.2B
| $2.01M | ﹤0.01% |
18,000
| – | – |
|
119
Philip Morris
PM
$297B
| $1.95M | ﹤0.01% |
19,900
| – | – |
|
120
AbbVie
ABBV
$456B
| $1.9M | ﹤0.01% |
33,232
-23
| -0.1% | -$1.28K |
|
|
MHFI
121
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $1.8M | ﹤0.01% |
18,171
| – | – |
|
122
PNC Financial Services
PNC
$97.1B
| $1.76M | ﹤0.01% |
20,800
-100
| -0.5% | -$8.52K |
|
123
Coca-Cola
KO
$383B
| $1.59M | ﹤0.01% |
34,242
| – | – |
|
|
CSC
124
DELISTED
Computer Sciences
CSC
| $1.49M | ﹤0.01% |
43,400
-16,950
| -28% | -$511K |
|
125
Altria Group
MO
$113B
| $1.49M | ﹤0.01% |
23,800
| – | – |
|
Similar funds
Dodge & Cox's Q1 2016 Portfolio in Review
As of Q1 2016, Dodge & Cox held 196 positions worth $102B, up 0.31% from $102B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Dodge & Cox's Q1 2016 filing shows 13 new, 56 increased, 96 reduced and 5 closed positions. Its largest new stake was Chubb: 27,301 shares worth $3.25M. The largest sale was Microsoft, an estimated $715M.
By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 23% a quarter earlier, followed by Financials and Communication Services.
- Dodge & Cox's largest Q1 2016 buy was Chubb: 27,301 shares worth $3.25M.
- Dodge & Cox added most to Union Pacific in Q1 2016, an estimated $925M increase.
- Dodge & Cox's biggest Q1 2016 reduction was Microsoft, cutting an estimated $715M.
- Dodge & Cox fully exited New Oriental in Q1 2016, selling an estimated $236M.
- Dodge & Cox's ten largest holdings make up 33% of its $102B portfolio in Q1 2016.
- Dodge & Cox opened 13 new positions and closed 5 in Q1 2016.
- Dodge & Cox's portfolio value rose 0.31% quarter-over-quarter to $102B.
Based on Dodge & Cox's 13F filing for Q1 2016, filed 13 May 2016.