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 |
Gen Digital
GEN
|
+$395M |
| 2 |
UnitedHealth
UNH
|
+$368M |
| 3 |
ESRX
Express Scripts Holding Company
ESRX
|
+$366M |
| 4 |
WFT
Weatherford International plc
WFT
|
+$342M |
| 5 |
eBay
EBAY
|
+$331M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MOLXA
MOLEX INC CL-A
MOLXA
|
+$680M |
| 2 |
Amdocs
DOX
|
+$501M |
| 3 |
DuPont de Nemours
DD
|
+$468M |
| 4 |
FedEx
FDX
|
+$443M |
| 5 |
Genworth Financial
GNW
|
+$414M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.99% |
| 2 | Technology | 20.48% |
| 3 | Healthcare | 18.33% |
| 4 | Communication Services | 15.59% |
| 5 | Energy | 10.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Apple
AAPL
$4.59T
| $1.13M | ﹤0.01% |
56,504
| – | – |
|
127
Eaton
ETN
$162B
| $1.04M | ﹤0.01% |
13,650
-900
| -6% | -$64K |
|
128
Altria Group
MO
$113B
| $952K | ﹤0.01% |
24,800
| – | – |
|
129
Macy's
M
$5.92B
| $949K | ﹤0.01% |
17,772
| – | – |
|
130
Colgate-Palmolive
CL
$72.5B
| $913K | ﹤0.01% |
14,000
| – | – |
|
131
Berkshire Hathaway Class A
BRK.A
$1.08T
| $890K | ﹤0.01% |
5
| – | – |
|
|
LM
132
DELISTED
Legg Mason, Inc.
LM
| $870K | ﹤0.01% |
20,000
-6,000
| -23% | -$233K |
|
|
APC
133
DELISTED
Anadarko Petroleum
APC
| $870K | ﹤0.01% |
10,964
| – | – |
|
134
Cemex
CX
$15.8B
| $864K | ﹤0.01% |
85,486
-7,801
| -8% | -$73.2K |
|
135
State Street
STT
$53.1B
| $851K | ﹤0.01% |
11,600
| – | – |
|
136
Norfolk Southern
NSC
$78.1B
| $677K | ﹤0.01% |
7,297
| – | – |
|
|
DNB
137
DELISTED
Dun & Bradstreet
DNB
| $666K | ﹤0.01% |
5,425
| – | – |
|
138
Fluor
FLR
$7.24B
| $651K | ﹤0.01% |
8,105
-400
| -5% | -$30.5K |
|
139
Parker-Hannifin
PH
$127B
| $638K | ﹤0.01% |
4,960
| – | – |
|
140
Loews
L
$22.5B
| $627K | ﹤0.01% |
13,000
-2,100
| -14% | -$100K |
|
|
CTXS
141
DELISTED
Citrix Systems Inc
CTXS
| $618K | ﹤0.01% |
12,277
-251
| -2% | -$12K |
|
|
HES
142
DELISTED
Hess
HES
| $565K | ﹤0.01% |
6,812
| – | – |
|
143
VF Corp
VFC
$5.36B
| $565K | ﹤0.01% |
9,622
| – | – |
|
144
General Mills
GIS
$21.6B
| $559K | ﹤0.01% |
11,200
| – | – |
|
145
AT&T
T
$174B
| $527K | ﹤0.01% |
19,849
-265
| -1% | -$6.97K |
|
146
PepsiCo
PEP
$191B
| $526K | ﹤0.01% |
6,345
| – | – |
|
147
Halliburton
HAL
$29.6B
| $482K | ﹤0.01% |
9,500
| – | – |
|
148
Ameriprise Financial
AMP
$49.1B
| $481K | ﹤0.01% |
4,182
| – | – |
|
149
Dominion Energy
D
$58.5B
| $433K | ﹤0.01% |
6,690
| – | – |
|
150
Kimberly-Clark
KMB
$36.6B
| $427K | ﹤0.01% |
4,259
| – | – |
|
Similar funds
Dodge & Cox's Q4 2013 Portfolio in Review
As of Q4 2013, Dodge & Cox held 167 positions worth $95.9B, up 9% from $88B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Trading was light in Q4 2013: portfolio turnover was 4.2%. Dodge & Cox opened 3 new positions and exited 4, leaving the 167-position portfolio largely intact.
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 Q4 2013 buy was Express Scripts Holding Company: 5,609,705 shares worth $394M.
- Dodge & Cox added most to Gen Digital in Q4 2013, an estimated $395M increase.
- Dodge & Cox's biggest Q4 2013 reduction was Amdocs, cutting an estimated $501M.
- Dodge & Cox fully exited MOLEX INC CL-A in Q4 2013, selling an estimated $680M.
- Dodge & Cox's ten largest holdings make up 35% of its $95.9B portfolio in Q4 2013.
- Dodge & Cox opened 3 new positions and closed 4 in Q4 2013.
- Dodge & Cox's portfolio value rose 9% quarter-over-quarter to $95.9B.
Based on Dodge & Cox's 13F filing for Q4 2013, filed 14 Feb 2014.