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 |
Booking.com
BKNG
|
+$812M |
| 2 |
EMC
EMC CORPORATION
EMC
|
+$745M |
| 3 |
Petrobras Class A
PBR.A
|
+$482M |
| 4 |
Cisco
CSCO
|
+$443M |
| 5 |
HP
HPQ
|
+$402M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GSK
GSK
|
+$494M |
| 2 |
AOL
AOL INC COMMON STOCK
AOL
|
+$464M |
| 3 |
CarMax
KMX
|
+$435M |
| 4 |
BNY
Bank of New York Mellon
BNY
|
+$376M |
| 5 |
Nokia
NOK
|
+$232M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.33% |
| 2 | Technology | 19.62% |
| 3 | Healthcare | 16.6% |
| 4 | Communication Services | 16.32% |
| 5 | Energy | 11.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
LVLT
151
DELISTED
Level 3 Communications Inc
LVLT
| $462K | ﹤0.01% |
8,778
-1,500
| -15% | -$82.2K |
|
152
Fluor
FLR
$7.44B
| $456K | ﹤0.01% |
8,595
| – | – |
|
|
LM
153
DELISTED
Legg Mason, Inc.
LM
| $441K | ﹤0.01% |
8,560
-800
| -9% | -$43.1K |
|
154
Kimberly-Clark
KMB
$35.6B
| $433K | ﹤0.01% |
4,083
| – | – |
|
|
CHL
155
DELISTED
China Mobile Limited
CHL
| $415K | ﹤0.01% |
6,470
| – | – |
|
|
CRC
156
DELISTED
California Resources Corporation
CRC
| $405K | ﹤0.01% |
6,707
-1,005
| -13% | -$81.1K |
|
157
Halliburton
HAL
$27.3B
| $396K | ﹤0.01% |
9,200
| – | – |
|
158
Citigroup
C
$221B
| $391K | ﹤0.01% |
7,075
| – | – |
|
159
Cemex
CX
$17.7B
| $387K | ﹤0.01% |
45,644
-16,817
| -27% | -$150K |
|
160
Moody's
MCO
$82.5B
| $356K | ﹤0.01% |
3,300
| – | – |
|
161
Dominion Energy
D
$62.8B
| $342K | ﹤0.01% |
5,112
-100
| -2% | -$7.04K |
|
|
KRFT
162
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
| $336K | ﹤0.01% |
3,946
| – | – |
|
|
HES
163
DELISTED
Hess
HES
| $335K | ﹤0.01% |
5,006
| – | – |
|
164
Hartford Financial Services
HIG
$39B
| $335K | ﹤0.01% |
8,050
| – | – |
|
165
Amazon
AMZN
$2.51T
| $334K | ﹤0.01% |
15,400
| – | – |
|
166
Lowe's Companies
LOW
$113B
| $332K | ﹤0.01% |
4,960
| – | – |
|
167
Stryker
SYK
$122B
| $321K | ﹤0.01% |
3,360
| – | – |
|
168
Equinix
EQIX
$102B
| $320K | ﹤0.01% |
1,258
| – | – |
|
|
YHOO
169
DELISTED
Yahoo Inc
YHOO
| $314K | ﹤0.01% |
8,000
| – | – |
|
170
VF Corp
VFC
$6.49B
| $282K | ﹤0.01% |
4,297
-227
| -5% | -$15.3K |
|
171
Under Armour
UAA
$2.87B
| $275K | ﹤0.01% |
6,647
| – | – |
|
|
UFS
172
DELISTED
DOMTAR CORPORATION (New)
UFS
| $274K | ﹤0.01% |
6,612
-184
| -3% | -$8.06K |
|
173
Toyota
TM
$209B
| $258K | ﹤0.01% |
1,930
| – | – |
|
174
Allstate
ALL
$65.5B
| $257K | ﹤0.01% |
3,966
-758
| -16% | -$52K |
|
175
Verizon
VZ
$183B
| $256K | ﹤0.01% |
5,500
| – | – |
|
Similar funds
Dodge & Cox's Q2 2015 Portfolio in Review
As of Q2 2015, Dodge & Cox held 187 positions worth $111B, up 2.2% from $109B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Trading was light in Q2 2015: portfolio turnover was 4.3%. Dodge & Cox opened 1 new position and exited 7, leaving the 187-position portfolio largely intact.
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 Q2 2015 buy was Booking.com: 17,019,125 shares worth $784M.
- Dodge & Cox added most to EMC CORPORATION in Q2 2015, an estimated $745M increase.
- Dodge & Cox's biggest Q2 2015 reduction was GSK, cutting an estimated $494M.
- Dodge & Cox fully exited AOL INC COMMON STOCK in Q2 2015, selling an estimated $464M.
- Dodge & Cox's ten largest holdings make up 35% of its $111B portfolio in Q2 2015.
- Dodge & Cox opened 1 new position and closed 7 in Q2 2015.
- Dodge & Cox's portfolio value rose 2.2% quarter-over-quarter to $111B.
Based on Dodge & Cox's 13F filing for Q2 2015, filed 13 Aug 2015.