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 |
Charter Communications
CHTR
|
+$2.44B |
| 2 |
Anadarko Petroleum
APC
|
+$467M |
| 3 |
MetLife
MET
|
+$358M |
| 4 |
Union Pacific
UNP
|
+$248M |
| 5 |
JD.com
JD
|
+$240M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$3.73B |
| 2 |
ADT Corp
ADT
|
+$843M |
| 3 |
SLB Ltd
SLB
|
+$614M |
| 4 |
Teck Resources
TECK
|
+$442M |
| 5 |
EMC CORPORATION
EMC
|
+$432M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.42% |
| 2 | Technology | 21.75% |
| 3 | Communication Services | 16.84% |
| 4 | Healthcare | 15.78% |
| 5 | Energy | 11.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
151
Dominion Energy
D
$54.8B
| $391K | ﹤0.01% |
5,012
| – | – |
2013 Q2
12 quarters
|
|
152
Lowe's Companies
LOW
$104B
| $389K | ﹤0.01% |
4,910
-2,400
| -33% | -$186K |
2014 Q3
7 quarters
|
|
153
Marsh
MRSH
$83.9B
| $367K | ﹤0.01% |
5,360
-2,500
| -32% | -$161K |
2014 Q3
7 quarters
|
|
154
Fluor
FLR
$6.62B
| $355K | ﹤0.01% |
7,195
-1,200
| -14% | -$62.4K |
2013 Q2
12 quarters
|
|
155
Equinix
EQIX
$102B
| $351K | ﹤0.01% |
904
-387
| -30% | -$135K |
2014 Q3
7 quarters
|
|
156
The Kraft Heinz Company
KHC
$26.7B
| $349K | ﹤0.01% |
3,946
| – | – |
2015 Q3
3 quarters
|
|
157
Macy's
M
$6.02B
| $336K | ﹤0.01% |
10,000
| – | – |
2013 Q2
12 quarters
|
|
158
Gilead Sciences
GILD
$187B
| $313K | ﹤0.01% |
3,750
-3,870
| -51% | -$343K |
2014 Q3
7 quarters
|
|
159
Moody's
MCO
$81.5B
| $309K | ﹤0.01% |
3,300
| – | – |
2013 Q2
12 quarters
|
|
160
Verizon
VZ
$177B
| $307K | ﹤0.01% |
5,500
| – | – |
2013 Q2
12 quarters
|
|
161
Qualcomm
QCOM
$185B
| $291K | ﹤0.01% |
5,430
| – | – |
2014 Q3
7 quarters
|
|
162
Ameriprise Financial
AMP
$44.3B
| $286K | ﹤0.01% |
3,182
| – | – |
2013 Q2
12 quarters
|
|
163
RTX Corp
RTX
$251B
| $282K | ﹤0.01% |
+4,363
| New | +$279K |
2016 Q2
0 quarters
|
|
164
Allstate
ALL
$58.9B
| $266K | ﹤0.01% |
3,796
| – | – |
2013 Q2
12 quarters
|
|
165
State Street
STT
$48.1B
| $264K | ﹤0.01% |
4,900
-500
| -9% | -$29.9K |
2013 Q2
12 quarters
|
|
166
DELISTED
Hess
HES
| $247K | ﹤0.01% |
4,106
| – | – |
2013 Q2
12 quarters
|
|
|
LVLT
167
DELISTED
Level 3 Communications Inc
LVLT
| $246K | ﹤0.01% |
4,778
| – | – |
2014 Q3
7 quarters
|
|
168
Citigroup
C
$220B
| $231K | ﹤0.01% |
5,450
-1,350
| -20% | -$59.7K |
2014 Q3
7 quarters
|
|
169
Hartford Financial Services
HIG
$35.3B
| $228K | ﹤0.01% |
5,140
| – | – |
2014 Q3
7 quarters
|
|
170
Sempra
SRE
$53.5B
| $218K | ﹤0.01% |
+3,830
| New | +$203K |
2016 Q2
0 quarters
|
|
171
Xerox
XRX
$356M
| $218K | ﹤0.01% |
8,728
-10,247
| -54% | -$270K |
2013 Q2
12 quarters
|
|
|
UFS
172
DELISTED
DOMTAR CORPORATION (New)
UFS
| $217K | ﹤0.01% |
6,200
| – | – |
2013 Q2
12 quarters
|
|
|
YHOO
173
DELISTED
Yahoo Inc
YHOO
| $207K | ﹤0.01% |
5,500
| – | – |
2014 Q3
7 quarters
|
|
174
VF Corp
VFC
$6.22B
| $202K | ﹤0.01% |
3,495
| – | – |
2013 Q2
12 quarters
|
|
175
Blackrock
BLK
$168B
| – | – |
-600
| Closed | -$204K | – |
|
Similar funds
Dodge & Cox's Q2 2016 Portfolio in Review
As of Q2 2016, Dodge & Cox held 196 positions worth $101B, down 0.95% from $102B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Dodge & Cox's Q2 2016 filing shows 5 new, 37 increased, 102 reduced and 21 closed positions. Its largest new stake was Charter Communications: 11,347,398 shares worth $2.59B. The largest sale was TIME WARNER CABLE INC NEW COM STK, an estimated $3.73B.
By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 22% a quarter earlier, followed by Technology and Communication Services.
- Dodge & Cox's largest Q2 2016 buy was Charter Communications: 11,347,398 shares worth $2.59B.
- Dodge & Cox added most to Anadarko Petroleum in Q2 2016, an estimated $467M increase.
- Dodge & Cox's biggest Q2 2016 reduction was SLB Ltd, cutting an estimated $614M.
- Dodge & Cox fully exited TIME WARNER CABLE INC NEW COM STK in Q2 2016, selling an estimated $3.73B.
- Dodge & Cox's ten largest holdings make up 32% of its $101B portfolio in Q2 2016.
- Dodge & Cox opened 5 new positions and closed 21 in Q2 2016.
- Dodge & Cox's portfolio value fell 0.95% quarter-over-quarter to $101B.
Based on Dodge & Cox's 13F filing for Q2 2016, filed 12 Aug 2016.