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
| 1 |
FISV
Fiserv Inc
FISV
|
+$1.28B |
| 2 |
Aon
AON
|
+$1.25B |
| 3 |
Willis Towers Watson
WTW
|
+$762M |
| 4 |
Fidelity National Information Services
FIS
|
+$571M |
| 5 |
Adobe
ADBE
|
+$565M |
Top Sells
| 1 |
Wells Fargo
WFC
|
+$962M |
| 2 |
Goldman Sachs
GS
|
+$814M |
| 3 |
GE Aerospace
GE
|
+$764M |
| 4 |
Nutrien
NTR
|
+$587M |
| 5 |
Alnylam Pharmaceuticals
ALNY
|
+$357M |
Sector Composition
| 1 | Healthcare | 23.72% |
| 2 | Financials | 18.28% |
| 3 | Industrials | 12.84% |
| 4 | Technology | 11.99% |
| 5 | Communication Services | 11.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
American Express
AXP
$242B
| $115M | 0.06% |
345,492
-12,922
| -4% | -$4.11M |
|
102
Fresenius Medical Care
FMS
$13.1B
| $101M | 0.05% |
3,826,910
| – | – |
|
103
GE Vernova
GEV
$280B
| $94.5M | 0.05% |
153,740
-8,481
| -5% | -$5.14M |
|
104
Cadence Design Systems
CDNS
$104B
| $84.5M | 0.05% |
240,525
-5,947
| -2% | -$2.05M |
|
105
Coherent
COHR
$60.1B
| $80.2M | 0.04% |
744,879
-986,716
| -57% | -$98.4M |
|
106
Liberty Global Class C
LBTYK
$3.56B
| $78.5M | 0.04% |
6,682,068
| – | – |
|
107
Williams Companies
WMB
$91.1B
| $70.7M | 0.04% |
1,115,522
-19,025
| -2% | -$1.12M |
|
108
Union Pacific
UNP
$172B
| $64.5M | 0.03% |
272,881
-2,560
| -0.9% | -$577K |
|
109
JPMorgan Chase
JPM
$896B
| $61.4M | 0.03% |
194,655
-73,028
| -27% | -$21.7M |
|
110
IDEX
IEX
$16.4B
| $56M | 0.03% |
+344,342
| New | +$58.2M |
|
111
Liberty Global Class A
LBTYA
$3.69B
| $54.6M | 0.03% |
4,767,561
| – | – |
|
112
Chevron
CVX
$363B
| $34.7M | 0.02% |
223,271
+41,414
| +23% | +$6.41M |
|
113
Eli Lilly
LLY
$1.05T
| $33.1M | 0.02% |
43,384
-1,573
| -3% | -$1.17M |
|
114
Walt Disney
DIS
$167B
| $33M | 0.02% |
288,127
-3,976
| -1% | -$468K |
|
115
TSMC
TSM
$2.19T
| $30.1M | 0.02% |
107,800
| – | – |
|
116
Travelers Companies
TRV
$72.6B
| $28.2M | 0.02% |
100,965
-2,961
| -3% | -$793K |
|
|
NESR
117
National Energy Services Reunited Corp
NESR
$2.84B
| $23.1M | 0.01% |
2,255,894
+119,100
| +6% | +$954K |
|
118
Caterpillar
CAT
$429B
| $19.5M | 0.01% |
40,794
-1,127
| -3% | -$481K |
|
119
Walmart Inc
WMT
$913B
| $18.6M | 0.01% |
180,835
+1,750
| +1% | +$174K |
|
120
SLB Ltd
SLB
$70.8B
| $16.4M | 0.01% |
476,259
-90,025
| -16% | -$3.13M |
|
121
Cisco
CSCO
$470B
| $14.9M | 0.01% |
217,789
-403,666
| -65% | -$27.5M |
|
122
Procter & Gamble
PG
$345B
| $14M | 0.01% |
90,796
-3,505
| -4% | -$547K |
|
123
IBM
IBM
$273B
| $13.3M | 0.01% |
47,188
-883
| -2% | -$231K |
|
124
Merck
MRK
$306B
| $12.9M | 0.01% |
154,275
-3,025
| -2% | -$249K |
|
125
Thermo Fisher Scientific
TMO
$196B
| $12.5M | 0.01% |
25,741
-200
| -0.8% | -$93.1K |
|
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