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 | |
|---|---|---|---|---|---|---|
151
Mondelez International
MDLZ
$79.7B
| $418K | ﹤0.01% |
11,840
| – | – |
|
|
AET
152
DELISTED
Aetna Inc
AET
| $412K | ﹤0.01% |
6,000
| – | – |
|
|
AGN
153
DELISTED
Allergan Inc
AGN
| $396K | ﹤0.01% |
3,564
| – | – |
|
154
Phillips 66
PSX
$95.7B
| $355K | ﹤0.01% |
4,600
-500
| -10% | -$33.4K |
|
|
WBA
155
DELISTED
Walgreens Boots Alliance
WBA
| $349K | ﹤0.01% |
6,069
| – | – |
|
156
Moody's
MCO
$88.2B
| $337K | ﹤0.01% |
4,300
| – | – |
|
157
Elevance Health
ELV
$86.6B
| $277K | ﹤0.01% |
3,000
| – | – |
|
158
Verizon
VZ
$205B
| $270K | ﹤0.01% |
5,500
-700
| -11% | -$34.4K |
|
159
Allstate
ALL
$65.1B
| $258K | ﹤0.01% |
4,724
| – | – |
|
160
PG&E
PCG
$39.5B
| $257K | ﹤0.01% |
6,382
| – | – |
|
161
Baxter International
BAX
$13.4B
| $235K | ﹤0.01% |
6,226
| – | – |
|
162
Automatic Data Processing
ADP
$113B
| $220K | ﹤0.01% |
+3,098
| New | +$208K |
|
|
KRFT
163
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
| $213K | ﹤0.01% |
3,946
| – | – |
|
|
164
Genworth Financial
GNW
$3.75B
| – | – |
-32,373,141
| Closed | -$414M |
|
165
RTX Corp
RTX
$286B
| – | – |
-3,006
| Closed | -$204K |
|
|
MOLX
166
DELISTED
MOLEX INC
MOLX
| – | – |
-2,712,027
| Closed | -$104M |
|
|
MOLXA
167
DELISTED
MOLEX INC CL-A
MOLXA
| – | – |
-17,754,019
| Closed | -$680M |
|
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.