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 |
Hewlett Packard
HPE
|
+$3.13B |
| 2 |
American Express
AXP
|
+$898M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$814M |
| 4 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$411M |
| 5 |
Elevance Health
ELV
|
+$409M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HP
HPQ
|
+$2.98B |
| 2 |
Pfizer
PFE
|
+$1.43B |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$940M |
| 4 |
GE Aerospace
GE
|
+$799M |
| 5 |
UBS Group
UBS
|
+$566M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.52% |
| 2 | Technology | 22.84% |
| 3 | Communication Services | 17.89% |
| 4 | Healthcare | 15.08% |
| 5 | Energy | 9.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Rio Tinto
RIO
$170B
| $485K | ﹤0.01% |
16,640
-600
| -3% | -$20.3K |
|
|
TIME
152
DELISTED
Time Inc.
TIME
| $465K | ﹤0.01% |
29,679
-472,189
| -94% | -$8.11M |
|
153
Parker-Hannifin
PH
$127B
| $453K | ﹤0.01% |
4,668
-120
| -3% | -$12.2K |
|
|
MRSH
154
Marsh
MRSH
$90.7B
| $436K | ﹤0.01% |
7,860
-2,500
| -24% | -$138K |
|
155
Morgan Stanley
MS
$337B
| $433K | ﹤0.01% |
13,620
| – | – |
|
|
APC
156
DELISTED
Anadarko Petroleum
APC
| $432K | ﹤0.01% |
8,884
-1,000
| -10% | -$61.2K |
|
|
LVLT
157
DELISTED
Level 3 Communications Inc
LVLT
| $423K | ﹤0.01% |
7,778
-1,000
| -11% | -$50.1K |
|
158
Amazon
AMZN
$2.76T
| $409K | ﹤0.01% |
12,100
-3,300
| -21% | -$104K |
|
159
Qualcomm
QCOM
$176B
| $400K | ﹤0.01% |
8,000
| – | – |
|
160
Fluor
FLR
$7.24B
| $396K | ﹤0.01% |
8,395
-200
| -2% | -$9.41K |
|
161
Equinix
EQIX
$106B
| $390K | ﹤0.01% |
1,291
+33
| +3% | +$9.64K |
|
162
Norfolk Southern
NSC
$78.1B
| $380K | ﹤0.01% |
4,497
-1,100
| -20% | -$94.2K |
|
163
Gilead Sciences
GILD
$185B
| $379K | ﹤0.01% |
3,750
-500
| -12% | -$52K |
|
164
Citigroup
C
$223B
| $366K | ﹤0.01% |
7,075
| – | – |
|
165
Macy's
M
$5.92B
| $350K | ﹤0.01% |
10,000
-800
| -7% | -$34.7K |
|
166
Dominion Energy
D
$58.5B
| $346K | ﹤0.01% |
5,112
| – | – |
|
167
Ameriprise Financial
AMP
$49.1B
| $339K | ﹤0.01% |
3,182
| – | – |
|
168
Lowe's Companies
LOW
$116B
| $339K | ﹤0.01% |
4,460
-500
| -10% | -$37.1K |
|
169
Moody's
MCO
$88.2B
| $331K | ﹤0.01% |
3,300
| – | – |
|
170
Halliburton
HAL
$29.6B
| $313K | ﹤0.01% |
9,200
| – | – |
|
171
Hartford Financial Services
HIG
$37.3B
| $306K | ﹤0.01% |
7,050
-1,000
| -12% | -$45.8K |
|
172
Kraft Heinz
KHC
$29.8B
| $287K | ﹤0.01% |
3,946
| – | – |
|
|
LM
173
DELISTED
Legg Mason, Inc.
LM
| $286K | ﹤0.01% |
7,300
-1,260
| -15% | -$54K |
|
174
Under Armour
UAA
$2.18B
| $266K | ﹤0.01% |
6,600
| – | – |
|
|
YHOO
175
DELISTED
Yahoo Inc
YHOO
| $266K | ﹤0.01% |
8,000
| – | – |
|
Similar funds
Dodge & Cox's Q4 2015 Portfolio in Review
As of Q4 2015, Dodge & Cox held 191 positions worth $102B, up 2.5% from $99.4B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Dodge & Cox's Q4 2015 filing shows 7 new, 31 increased, 114 reduced and 8 closed positions. Its largest new stake was Hewlett Packard: 374,271,996 shares worth $3.31B. The largest sale was HP, an estimated $2.98B.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 23% a quarter earlier, followed by Technology and Communication Services.
- Dodge & Cox's largest Q4 2015 buy was Hewlett Packard: 374,271,996 shares worth $3.31B.
- Dodge & Cox added most to American Express in Q4 2015, an estimated $898M increase.
- Dodge & Cox's biggest Q4 2015 reduction was HP, cutting an estimated $2.98B.
- Dodge & Cox fully exited UBS Group in Q4 2015, selling an estimated $566M.
- Dodge & Cox's ten largest holdings make up 35% of its $102B portfolio in Q4 2015.
- Dodge & Cox opened 7 new positions and closed 8 in Q4 2015.
- Dodge & Cox's portfolio value rose 2.5% quarter-over-quarter to $102B.
Based on Dodge & Cox's 13F filing for Q4 2015, filed 12 Feb 2016.