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 |
APA Corp
APA
|
+$468M |
| 2 |
S
Sprint Corporation
S
|
+$437M |
| 3 |
UnitedHealth
UNH
|
+$366M |
| 4 |
Microsoft
MSFT
|
+$305M |
| 5 |
ADT
ADT Corp
ADT
|
+$247M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FON
SPRINT CORP FON COM
FON
|
+$1.76B |
| 2 |
Xerox
XRX
|
+$625M |
| 3 |
PC
PANASONIC CORP ADR (REP 1 SHR COM STK) (JP)
PC
|
+$347M |
| 4 |
Adobe
ADBE
|
+$282M |
| 5 |
Vodafone
VOD
|
+$252M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.99% |
| 2 | Technology | 19.81% |
| 3 | Healthcare | 18.2% |
| 4 | Communication Services | 15.23% |
| 5 | Energy | 10.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
NextEra Energy
NEE
$174B
| $1.14M | ﹤0.01% |
56,796
| – | – |
|
|
APC
127
DELISTED
Anadarko Petroleum
APC
| $1.02M | ﹤0.01% |
10,964
| – | – |
|
128
Eaton
ETN
$162B
| $1M | ﹤0.01% |
14,550
-10,300
| -41% | -$692K |
|
129
Apple
AAPL
$4.59T
| $962K | ﹤0.01% |
56,504
| – | – |
|
130
Cemex
CX
$15.8B
| $892K | ﹤0.01% |
93,287
-661
| -0.7% | -$6.5K |
|
|
LM
131
DELISTED
Legg Mason, Inc.
LM
| $869K | ﹤0.01% |
26,000
-3,700
| -12% | -$124K |
|
132
Berkshire Hathaway Class A
BRK.A
$1.08T
| $852K | ﹤0.01% |
5
| – | – |
|
133
Altria Group
MO
$113B
| $852K | ﹤0.01% |
24,800
| – | – |
|
134
Colgate-Palmolive
CL
$72.5B
| $830K | ﹤0.01% |
14,000
| – | – |
|
135
Macy's
M
$5.92B
| $769K | ﹤0.01% |
17,772
| – | – |
|
136
State Street
STT
$53.1B
| $763K | ﹤0.01% |
11,600
| – | – |
|
137
Loews
L
$22.5B
| $706K | ﹤0.01% |
15,100
-2,500
| -14% | -$115K |
|
|
CTXS
138
DELISTED
Citrix Systems Inc
CTXS
| $704K | ﹤0.01% |
12,528
-1,130
| -8% | -$63.2K |
|
139
Fluor
FLR
$7.24B
| $604K | ﹤0.01% |
8,505
-500
| -6% | -$32.4K |
|
140
Norfolk Southern
NSC
$78.1B
| $564K | ﹤0.01% |
7,297
-100
| -1% | -$7.49K |
|
|
DNB
141
DELISTED
Dun & Bradstreet
DNB
| $563K | ﹤0.01% |
5,425
| – | – |
|
142
Parker-Hannifin
PH
$127B
| $539K | ﹤0.01% |
4,960
| – | – |
|
143
General Mills
GIS
$21.6B
| $537K | ﹤0.01% |
11,200
| – | – |
|
|
HES
144
DELISTED
Hess
HES
| $527K | ﹤0.01% |
6,812
| – | – |
|
145
AT&T
T
$174B
| $514K | ﹤0.01% |
20,114
-265
| -1% | -$6.96K |
|
146
PepsiCo
PEP
$191B
| $504K | ﹤0.01% |
6,345
-700
| -10% | -$57.5K |
|
147
Halliburton
HAL
$29.6B
| $457K | ﹤0.01% |
9,500
| – | – |
|
148
VF Corp
VFC
$5.36B
| $451K | ﹤0.01% |
9,622
| – | – |
|
149
Dominion Energy
D
$58.5B
| $418K | ﹤0.01% |
6,690
| – | – |
|
150
Kimberly-Clark
KMB
$36.6B
| $385K | ﹤0.01% |
4,259
| – | – |
|
Similar funds
Dodge & Cox's Q3 2013 Portfolio in Review
As of Q3 2013, Dodge & Cox held 170 positions worth $88B, up 4.6% from $84.2B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q3 2013 filing shows 4 new, 27 increased, 95 reduced and 6 closed positions. Its largest new stake was Sprint Corporation: 66,353,287 shares worth $412M. The largest sale was SPRINT CORP FON COM, an estimated $1.76B.
By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q3 2013 buy was Sprint Corporation: 66,353,287 shares worth $412M.
- Dodge & Cox added most to APA Corp in Q3 2013, an estimated $468M increase.
- Dodge & Cox's biggest Q3 2013 reduction was Xerox, cutting an estimated $625M.
- Dodge & Cox fully exited SPRINT CORP FON COM in Q3 2013, selling an estimated $1.76B.
- Dodge & Cox's ten largest holdings make up 35% of its $88B portfolio in Q3 2013.
- Dodge & Cox opened 4 new positions and closed 6 in Q3 2013.
- Dodge & Cox's portfolio value rose 4.6% quarter-over-quarter to $88B.
Based on Dodge & Cox's 13F filing for Q3 2013, filed 13 Nov 2013.