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 |
SLB Ltd
SLB
|
+$960M |
| 2 |
APA Corp
APA
|
+$888M |
| 3 |
Danaher
DHR
|
+$805M |
| 4 |
Cisco
CSCO
|
+$714M |
| 5 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$533M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GE Aerospace
GE
|
+$682M |
| 2 |
GSK
GSK
|
+$655M |
| 3 |
Boston Scientific
BSX
|
+$553M |
| 4 |
eBay
EBAY
|
+$476M |
| 5 |
Comcast
CMCSA
|
+$469M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.94% |
| 2 | Technology | 21.34% |
| 3 | Healthcare | 16.15% |
| 4 | Communication Services | 15.77% |
| 5 | Energy | 10.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Ameriprise Financial
AMP
$46.8B
| $553K | ﹤0.01% |
4,182
| – | – |
|
|
AET
152
DELISTED
Aetna Inc
AET
| $533K | ﹤0.01% |
6,000
| – | – |
|
153
Fluor
FLR
$7.44B
| $521K | ﹤0.01% |
8,595
| – | – |
|
154
Lowe's Companies
LOW
$113B
| $494K | ﹤0.01% |
7,180
| – | – |
|
155
AT&T
T
$160B
| $487K | ﹤0.01% |
19,187
| – | – |
|
|
CRC
156
DELISTED
California Resources Corporation
CRC
| $481K | ﹤0.01% |
+8,732
| New | +$526K |
|
157
Mondelez International
MDLZ
$77.1B
| $477K | ﹤0.01% |
13,120
-4,840
| -27% | -$176K |
|
158
Dominion Energy
D
$62.8B
| $476K | ﹤0.01% |
6,190
| – | – |
|
159
Visa
V
$669B
| $475K | ﹤0.01% |
7,240
-1,612
| -18% | -$97K |
|
160
Kimberly-Clark
KMB
$35.6B
| $472K | ﹤0.01% |
4,083
-176
| -4% | -$19.5K |
|
|
YHOO
161
DELISTED
Yahoo Inc
YHOO
| $455K | ﹤0.01% |
9,000
| – | – |
|
162
Gilead Sciences
GILD
$162B
| $425K | ﹤0.01% |
4,510
-290
| -6% | -$30K |
|
163
Moody's
MCO
$82.5B
| $412K | ﹤0.01% |
4,300
| – | – |
|
164
Citigroup
C
$221B
| $383K | ﹤0.01% |
7,075
-860
| -11% | -$45.7K |
|
|
CHL
165
DELISTED
China Mobile Limited
CHL
| $381K | ﹤0.01% |
6,470
+1,500
| +30% | +$89.9K |
|
166
Elevance Health
ELV
$82.3B
| $377K | ﹤0.01% |
3,000
| – | – |
|
|
HES
167
DELISTED
Hess
HES
| $370K | ﹤0.01% |
5,006
-1,606
| -24% | -$127K |
|
168
Halliburton
HAL
$27.3B
| $362K | ﹤0.01% |
9,200
| – | – |
|
169
PG&E
PCG
$38.6B
| $340K | ﹤0.01% |
6,382
-3,380
| -35% | -$167K |
|
170
Hartford Financial Services
HIG
$39B
| $336K | ﹤0.01% |
8,050
+540
| +7% | +$21.4K |
|
171
Allstate
ALL
$65.5B
| $332K | ﹤0.01% |
4,724
| – | – |
|
172
Under Armour
UAA
$2.87B
| $326K | ﹤0.01% |
9,668
| – | – |
|
173
VF Corp
VFC
$6.49B
| $319K | ﹤0.01% |
4,524
-531
| -11% | -$35.1K |
|
174
Stryker
SYK
$122B
| $317K | ﹤0.01% |
3,360
-810
| -19% | -$71.9K |
|
175
Loews
L
$23.8B
| $307K | ﹤0.01% |
7,300
-1,000
| -12% | -$41.9K |
|
Similar funds
Dodge & Cox's Q4 2014 Portfolio in Review
As of Q4 2014, Dodge & Cox held 208 positions worth $108B, up 2.9% from $105B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q4 2014 filing shows 5 new, 51 increased, 97 reduced and 19 closed positions. Its largest new stake was Juniper Networks: 14,842,903 shares worth $331M. The largest sale was GE Aerospace, an estimated $682M.
By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 21% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q4 2014 buy was Juniper Networks: 14,842,903 shares worth $331M.
- Dodge & Cox added most to SLB Ltd in Q4 2014, an estimated $960M increase.
- Dodge & Cox's biggest Q4 2014 reduction was GE Aerospace, cutting an estimated $682M.
- Dodge & Cox fully exited Vodafone in Q4 2014, selling an estimated $4.59M.
- Dodge & Cox's ten largest holdings make up 35% of its $108B portfolio in Q4 2014.
- Dodge & Cox opened 5 new positions and closed 19 in Q4 2014.
- Dodge & Cox's portfolio value rose 2.9% quarter-over-quarter to $108B.
Based on Dodge & Cox's 13F filing for Q4 2014, filed 13 Feb 2015.