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 |
eBay
EBAY
|
+$681M |
| 2 |
Cigna
CI
|
+$399M |
| 3 |
Liberty Global Class A
LBTYA
|
+$370M |
| 4 |
TYC
TYCO INTL PLC COM SHS (IRL)
TYC
|
+$207M |
| 5 |
Walmart Inc
WMT
|
+$206M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GSK
GSK
|
+$1.06B |
| 2 |
Nokia
NOK
|
+$561M |
| 3 |
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
|
+$511M |
| 4 |
HP
HPQ
|
+$477M |
| 5 |
DuPont de Nemours
DD
|
+$252M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.16% |
| 2 | Technology | 20.44% |
| 3 | Healthcare | 16.97% |
| 4 | Communication Services | 14.78% |
| 5 | Energy | 11.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
NextEra Energy
NEE
$187B
| $1.32M | ﹤0.01% |
56,396
| – | – |
|
127
Rio Tinto
RIO
$149B
| $1.21M | ﹤0.01% |
24,512
+300
| +1% | +$16.6K |
|
128
PepsiCo
PEP
$184B
| $1.15M | ﹤0.01% |
12,365
+6,720
| +119% | +$614K |
|
129
Altria Group
MO
$120B
| $1.09M | ﹤0.01% |
23,800
-1,000
| -4% | -$42.8K |
|
130
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.03M | ﹤0.01% |
5
| – | – |
|
|
AGN
131
DELISTED
Allergan plc
AGN
| $971K | ﹤0.01% |
+4,025
| New | +$901K |
|
132
Macy's
M
$6.14B
| $955K | ﹤0.01% |
16,422
| – | – |
|
133
Norfolk Southern
NSC
$78.3B
| $931K | ﹤0.01% |
8,344
+1,047
| +14% | +$111K |
|
134
Colgate-Palmolive
CL
$72.1B
| $913K | ﹤0.01% |
14,000
| – | – |
|
|
LM
135
DELISTED
Legg Mason, Inc.
LM
| $887K | ﹤0.01% |
17,330
-1,570
| -8% | -$77.9K |
|
136
Cemex
CX
$17.7B
| $875K | ﹤0.01% |
75,463
-2,229
| -3% | -$25.9K |
|
137
Qualcomm
QCOM
$180B
| $857K | ﹤0.01% |
+11,456
| New | +$876K |
|
138
State Street
STT
$50.6B
| $854K | ﹤0.01% |
11,600
| – | – |
|
139
Cisco
CSCO
$444B
| $822K | ﹤0.01% |
+32,653
| New | +$821K |
|
|
WBA
140
DELISTED
Walgreens Boots Alliance
WBA
| $745K | ﹤0.01% |
12,574
+6,905
| +122% | +$453K |
|
|
CTXS
141
DELISTED
Citrix Systems Inc
CTXS
| $730K | ﹤0.01% |
12,842
+691
| +6% | +$37.6K |
|
142
Phillips 66
PSX
$83B
| $698K | ﹤0.01% |
8,590
+4,390
| +105% | +$365K |
|
|
DNB
143
DELISTED
Dun & Bradstreet
DNB
| $637K | ﹤0.01% |
5,425
| – | – |
|
|
HES
144
DELISTED
Hess
HES
| $624K | ﹤0.01% |
6,612
| – | – |
|
145
Mondelez International
MDLZ
$77.1B
| $615K | ﹤0.01% |
17,960
+6,120
| +52% | +$223K |
|
146
Halliburton
HAL
$27.3B
| $593K | ﹤0.01% |
9,200
| – | – |
|
|
AGN
147
DELISTED
Allergan Inc
AGN
| $582K | ﹤0.01% |
3,264
-300
| -8% | -$49.8K |
|
148
Fluor
FLR
$7.44B
| $574K | ﹤0.01% |
8,595
+490
| +6% | +$36K |
|
|
MRSH
149
Marsh
MRSH
$84.2B
| $569K | ﹤0.01% |
+10,880
| New | +$567K |
|
150
Parker-Hannifin
PH
$124B
| $566K | ﹤0.01% |
4,960
| – | – |
|
Similar funds
Dodge & Cox's Q3 2014 Portfolio in Review
As of Q3 2014, Dodge & Cox held 207 positions worth $105B, down 0.3% from $105B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q3 2014 filing shows 40 new, 53 increased, 86 reduced and 4 closed positions. Its largest new stake was New Oriental: 4,002,900 shares worth $92.9M. The largest sale was GSK, an estimated $1.06B.
By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 21% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q3 2014 buy was New Oriental: 4,002,900 shares worth $92.9M.
- Dodge & Cox added most to eBay in Q3 2014, an estimated $681M increase.
- Dodge & Cox's biggest Q3 2014 reduction was GSK, cutting an estimated $1.06B.
- Dodge & Cox fully exited FOREST LABORATORIES INC in Q3 2014, selling an estimated $4.46M.
- Dodge & Cox's ten largest holdings make up 35% of its $105B portfolio in Q3 2014.
- Dodge & Cox opened 40 new positions and closed 4 in Q3 2014.
- Dodge & Cox's portfolio value fell 0.3% quarter-over-quarter to $105B.
Based on Dodge & Cox's 13F filing for Q3 2014, filed 13 Nov 2014.