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 | Held Since | |
|---|---|---|---|---|---|---|---|
126
DELISTED
CSRA Inc.
CSRA
| $1.44M | ﹤0.01% |
53,600
-8,750
| -14% | -$229K |
2015 Q4
1 quarter
|
|
127
Honeywell
HON
$66.6B
| $1.35M | ﹤0.01% |
13,389
+5,008
| +60% | +$469K |
2013 Q2
11 quarters
|
|
128
Philips
PHG
$24.2B
| $1.31M | ﹤0.01% |
63,921
-78,591
| -55% | -$1.45M |
2013 Q2
11 quarters
|
|
129
NextEra Energy
NEE
$163B
| $1.3M | ﹤0.01% |
44,120
+120
| +0.3% | +$3.37K |
2013 Q2
11 quarters
|
|
130
Abbott
ABT
$176B
| $1.22M | ﹤0.01% |
29,268
-1,000
| -3% | -$39.6K |
2013 Q2
11 quarters
|
|
131
ConocoPhillips
COP
$165B
| $1.16M | ﹤0.01% |
28,688
-700
| -2% | -$26.6K |
2013 Q2
11 quarters
|
|
132
Duke Energy
DUK
$91.7B
| $1.15M | ﹤0.01% |
14,295
-150
| -1% | -$11.4K |
2013 Q2
11 quarters
|
|
133
Colgate-Palmolive
CL
$71.3B
| $1.02M | ﹤0.01% |
14,421
+421
| +3% | +$28K |
2013 Q2
11 quarters
|
|
134
Air Products & Chemicals
APD
$63.2B
| $910K | ﹤0.01% |
6,831
+237
| +4% | +$28.7K |
2013 Q2
11 quarters
|
|
|
LVNTA
135
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $823K | ﹤0.01% |
21,045
-950
| -4% | -$36K |
2014 Q4
5 quarters
|
|
136
General Mills
GIS
$17.4B
| $741K | ﹤0.01% |
11,692
+492
| +4% | +$28.6K |
2013 Q2
11 quarters
|
|
137
DELISTED
Walgreens Boots Alliance
WBA
| $723K | ﹤0.01% |
8,579
-500
| -6% | -$39.9K |
2013 Q2
11 quarters
|
|
138
Phillips 66
PSX
$112B
| $717K | ﹤0.01% |
8,277
+372
| +5% | +$30.2K |
2013 Q2
11 quarters
|
|
139
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$29.2B
| $716K | ﹤0.01% |
+6,030
| New | +$693K |
2016 Q1
0 quarters
|
|
|
CTXS
140
DELISTED
Citrix Systems Inc
CTXS
| $709K | ﹤0.01% |
11,335
| – | – |
2013 Q2
11 quarters
|
|
141
Gilead Sciences
GILD
$186B
| $700K | ﹤0.01% |
7,620
+3,870
| +103% | +$349K |
2014 Q3
6 quarters
|
|
142
Visa
V
$735B
| $679K | ﹤0.01% |
8,880
+2,300
| +35% | +$167K |
2014 Q3
6 quarters
|
|
143
PepsiCo
PEP
$173B
| $650K | ﹤0.01% |
6,339
-926
| -13% | -$91.5K |
2013 Q2
11 quarters
|
|
144
Berkshire Hathaway Class A
BRK.A
$1.11T
| $640K | ﹤0.01% |
3
-2
| -40% | -$399K |
2013 Q2
11 quarters
|
|
145
DELISTED
Dun & Bradstreet
DNB
| $559K | ﹤0.01% |
5,425
| – | – |
2013 Q2
11 quarters
|
|
146
Xerox
XRX
$357M
| $558K | ﹤0.01% |
18,975
-4,175
| -18% | -$108K |
2013 Q2
11 quarters
|
|
147
Lowe's Companies
LOW
$105B
| $554K | ﹤0.01% |
7,310
+2,850
| +64% | +$201K |
2014 Q3
6 quarters
|
|
148
Kimberly-Clark
KMB
$32.6B
| $541K | ﹤0.01% |
4,023
| – | – |
2013 Q2
11 quarters
|
|
149
Norfolk Southern
NSC
$71.6B
| $541K | ﹤0.01% |
6,497
+2,000
| +44% | +$151K |
2013 Q2
11 quarters
|
|
150
Amazon
AMZN
$2.81T
| $528K | ﹤0.01% |
17,800
+5,700
| +47% | +$162K |
2014 Q3
6 quarters
|
|
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.