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 |
Union Pacific
UNP
|
+$925M |
| 2 |
JD.com
JD
|
+$579M |
| 3 |
American Express
AXP
|
+$537M |
| 4 |
AstraZeneca
AZN
|
+$429M |
| 5 |
Goldman Sachs
GS
|
+$416M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$715M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$469M |
| 3 |
TE Connectivity
TEL
|
+$372M |
| 4 |
Cadence Design Systems
CDNS
|
+$272M |
| 5 |
Gen Digital
GEN
|
+$264M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.25% |
| 2 | Financials | 22.15% |
| 3 | Communication Services | 17.88% |
| 4 | Healthcare | 14.29% |
| 5 | Energy | 10.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
151
Parker-Hannifin
PH
$121B
| $519K | ﹤0.01% |
4,668
| – | – |
2013 Q2
11 quarters
|
|
152
DNOW Inc
DNOW
$2.76B
| $506K | ﹤0.01% |
28,575
-2,456,671
| -99% | -$37.8M |
2014 Q2
7 quarters
|
|
153
Marsh
MRSH
$83.9B
| $478K | ﹤0.01% |
7,860
| – | – |
2014 Q3
6 quarters
|
|
154
Mondelez International
MDLZ
$78.8B
| $475K | ﹤0.01% |
11,840
| – | – |
2013 Q2
11 quarters
|
|
155
Fluor
FLR
$6.63B
| $451K | ﹤0.01% |
8,395
| – | – |
2013 Q2
11 quarters
|
|
156
Rio Tinto
RIO
$153B
| $447K | ﹤0.01% |
15,800
-840
| -5% | -$22.4K |
2013 Q2
11 quarters
|
|
157
Meta Platforms (Facebook)
META
$1.89T
| $445K | ﹤0.01% |
+3,900
| New | +$411K |
2016 Q1
0 quarters
|
|
158
Macy's
M
$6.03B
| $441K | ﹤0.01% |
10,000
| – | – |
2013 Q2
11 quarters
|
|
159
Equinix
EQIX
$102B
| $427K | ﹤0.01% |
1,291
| – | – |
2014 Q3
6 quarters
|
|
160
McKesson
MCK
$110B
| $407K | ﹤0.01% |
+2,590
| New | +$418K |
2016 Q1
0 quarters
|
|
161
ServiceNow
NOW
$145B
| $399K | ﹤0.01% |
+32,625
| New | +$413K |
2016 Q1
0 quarters
|
|
162
DELISTED
Anadarko Petroleum
APC
| $392K | ﹤0.01% |
8,424
-460
| -5% | -$18.7K |
2013 Q2
11 quarters
|
|
163
Starbucks
SBUX
$105B
| $382K | ﹤0.01% |
+6,400
| New | +$373K |
2016 Q1
0 quarters
|
|
164
Dominion Energy
D
$54.8B
| $377K | ﹤0.01% |
5,012
-100
| -2% | -$7.08K |
2013 Q2
11 quarters
|
|
165
Oracle
ORCL
$415B
| $368K | ﹤0.01% |
+9,000
| New | +$333K |
2016 Q1
0 quarters
|
|
166
Sysco
SYY
$38.4B
| $358K | ﹤0.01% |
+7,662
| New | +$331K |
2016 Q1
0 quarters
|
|
167
HSBC
HSBC
$323B
| $350K | ﹤0.01% |
12,632
-3,087
| -20% | -$91.3K |
2013 Q2
11 quarters
|
|
168
KKR & Co
KKR
$81.5B
| $338K | ﹤0.01% |
+23,000
| New | +$313K |
2016 Q1
0 quarters
|
|
169
Halliburton
HAL
$27.1B
| $329K | ﹤0.01% |
9,200
| – | – |
2013 Q2
11 quarters
|
|
170
Moody's
MCO
$81.6B
| $319K | ﹤0.01% |
3,300
| – | – |
2013 Q2
11 quarters
|
|
171
State Street
STT
$48.1B
| $316K | ﹤0.01% |
5,400
-2,600
| -33% | -$148K |
2013 Q2
11 quarters
|
|
172
The Kraft Heinz Company
KHC
$26.7B
| $310K | ﹤0.01% |
3,946
| – | – |
2015 Q3
2 quarters
|
|
173
Ameriprise Financial
AMP
$44.3B
| $299K | ﹤0.01% |
3,182
| – | – |
2013 Q2
11 quarters
|
|
174
Verizon
VZ
$177B
| $297K | ﹤0.01% |
5,500
| – | – |
2013 Q2
11 quarters
|
|
175
Enterprise Products Partners
EPD
$77.4B
| $295K | ﹤0.01% |
+12,000
| New | +$279K |
2016 Q1
0 quarters
|
|
Similar funds
Dodge & Cox's Q1 2016 Portfolio in Review
As of Q1 2016, Dodge & Cox held 196 positions worth $102B, up 0.31% from $102B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Dodge & Cox's Q1 2016 filing shows 13 new, 56 increased, 96 reduced and 5 closed positions. Its largest new stake was Chubb: 27,301 shares worth $3.25M. The largest sale was Microsoft, an estimated $715M.
By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 23% a quarter earlier, followed by Financials and Communication Services.
- Dodge & Cox's largest Q1 2016 buy was Chubb: 27,301 shares worth $3.25M.
- Dodge & Cox added most to Union Pacific in Q1 2016, an estimated $925M increase.
- Dodge & Cox's biggest Q1 2016 reduction was Microsoft, cutting an estimated $715M.
- Dodge & Cox fully exited New Oriental in Q1 2016, selling an estimated $236M.
- Dodge & Cox's ten largest holdings make up 33% of its $102B portfolio in Q1 2016.
- Dodge & Cox opened 13 new positions and closed 5 in Q1 2016.
- Dodge & Cox's portfolio value rose 0.31% quarter-over-quarter to $102B.
Based on Dodge & Cox's 13F filing for Q1 2016, filed 13 May 2016.