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 | |
|---|---|---|---|---|---|---|
151
General Mills
GIS
$19B
| $565K | ﹤0.01% |
11,200
| – | – |
|
152
Morgan Stanley
MS
$338B
| $518K | ﹤0.01% |
+14,980
| New | +$499K |
|
153
Ameriprise Financial
AMP
$46.8B
| $516K | ﹤0.01% |
4,182
| – | – |
|
154
Gilead Sciences
GILD
$162B
| $511K | ﹤0.01% |
+4,800
| New | +$470K |
|
155
AT&T
T
$160B
| $511K | ﹤0.01% |
19,187
-662
| -3% | -$17.6K |
|
|
AET
156
DELISTED
Aetna Inc
AET
| $486K | ﹤0.01% |
6,000
| – | – |
|
157
Visa
V
$669B
| $472K | ﹤0.01% |
+8,852
| New | +$476K |
|
158
Verizon
VZ
$183B
| $455K | ﹤0.01% |
9,092
-2,166
| -19% | -$108K |
|
159
PG&E
PCG
$38.6B
| $440K | ﹤0.01% |
9,762
+3,380
| +53% | +$155K |
|
160
Kimberly-Clark
KMB
$35.6B
| $439K | ﹤0.01% |
4,259
| – | – |
|
161
Dominion Energy
D
$62.8B
| $428K | ﹤0.01% |
6,190
-100
| -2% | -$6.9K |
|
162
Emerson Electric
EMR
$81.2B
| $423K | ﹤0.01% |
+6,767
| New | +$439K |
|
|
TWTC
163
DELISTED
TW TELECOM INC CL A COM
TWTC
| $413K | ﹤0.01% |
+9,920
| New | +$404K |
|
164
Citigroup
C
$221B
| $411K | ﹤0.01% |
+7,935
| New | +$399K |
|
165
Moody's
MCO
$82.5B
| $406K | ﹤0.01% |
4,300
| – | – |
|
166
Lowe's Companies
LOW
$113B
| $380K | ﹤0.01% |
+7,180
| New | +$363K |
|
167
Danaher
DHR
$135B
| $371K | ﹤0.01% |
+7,265
| New | +$374K |
|
|
YHOO
168
DELISTED
Yahoo Inc
YHOO
| $367K | ﹤0.01% |
+9,000
| New | +$338K |
|
169
Campbell Soup
CPB
$6.38B
| $364K | ﹤0.01% |
+8,530
| New | +$373K |
|
170
Elevance Health
ELV
$82.3B
| $359K | ﹤0.01% |
3,000
| – | – |
|
|
CIT
171
DELISTED
CIT Group Inc.
CIT
| $353K | ﹤0.01% |
+7,690
| New | +$364K |
|
172
Loews
L
$23.8B
| $346K | ﹤0.01% |
8,300
+700
| +9% | +$30.1K |
|
173
Stryker
SYK
$122B
| $337K | ﹤0.01% |
+4,170
| New | +$343K |
|
174
Under Armour
UAA
$2.87B
| $332K | ﹤0.01% |
+9,668
| New | +$320K |
|
175
VF Corp
VFC
$6.49B
| $314K | ﹤0.01% |
5,055
-2,124
| -30% | -$127K |
|
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.