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 |
Brookfield
BN
|
+$1.88B |
| 2 |
Aon
AON
|
+$1.53B |
| 3 |
Willis Towers Watson
WTW
|
+$1.08B |
| 4 |
FISV
Fiserv Inc
FISV
|
+$908M |
| 5 |
TransUnion
TRU
|
+$809M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BNY
Bank of New York Mellon
BNY
|
+$999M |
| 2 |
ECHO
EchoStar
ECHO
|
+$958M |
| 3 |
CVS Health
CVS
|
+$841M |
| 4 |
Bank of America
BAC
|
+$705M |
| 5 |
Capital One
COF
|
+$656M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 23.7% |
| 2 | Financials | 19.44% |
| 3 | Industrials | 13.02% |
| 4 | Communication Services | 11.33% |
| 5 | Technology | 11.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Mercado Libre
MELI
$98.9B
| $2.8M | ﹤0.01% |
1,392
+1,000
| +255% | +$2.1M |
|
152
Philip Morris
PM
$303B
| $2.73M | ﹤0.01% |
17,000
| – | – |
|
153
Dell
DELL
$300B
| $2.41M | ﹤0.01% |
19,180
-4,450
| -19% | -$627K |
|
154
AbbVie
ABBV
$465B
| $2.37M | ﹤0.01% |
10,393
-80
| -0.8% | -$18.2K |
|
155
Pfizer
PFE
$161B
| $2.25M | ﹤0.01% |
90,364
-2,650
| -3% | -$66.8K |
|
156
Parker-Hannifin
PH
$131B
| $2.2M | ﹤0.01% |
2,500
| – | – |
|
157
Vipshop
VIPS
$6.7B
| $2.2M | ﹤0.01% |
124,197
| – | – |
|
158
Abbott
ABT
$197B
| $2.17M | ﹤0.01% |
17,324
| – | – |
|
159
Baidu
BIDU
$31.6B
| $2.16M | ﹤0.01% |
16,530
-4,387,885
| -100% | -$545M |
|
160
Hewlett Packard
HPE
$73.1B
| $2.08M | ﹤0.01% |
86,454
-1,300
| -1% | -$30.6K |
|
161
McDonald's
MCD
$189B
| $1.98M | ﹤0.01% |
6,475
| – | – |
|
162
NextEra Energy
NEE
$176B
| $1.89M | ﹤0.01% |
23,600
| – | – |
|
163
Las Vegas Sands
LVS
$29.9B
| $1.83M | ﹤0.01% |
28,186
| – | – |
|
164
Coca-Cola
KO
$388B
| $1.68M | ﹤0.01% |
24,000
| – | – |
|
165
Honeywell
HON
$69.9B
| $1.56M | ﹤0.01% |
8,019
-489
| -6% | -$95.7K |
|
166
Otis Worldwide
OTIS
$27.5B
| $1.4M | ﹤0.01% |
16,010
-600
| -4% | -$53.7K |
|
167
Trip.com Group
TCOM
$28.4B
| $1.38M | ﹤0.01% |
19,250
| – | – |
|
168
Corteva
CTVA
$55.3B
| $1.38M | ﹤0.01% |
20,527
-12
| -0.1% | -$776 |
|
169
3M
MMM
$92.8B
| $1.23M | ﹤0.01% |
7,676
-20
| -0.3% | -$3.27K |
|
170
Altria Group
MO
$115B
| $1.21M | ﹤0.01% |
21,000
| – | – |
|
171
Karooooo
KARO
$1.99B
| $1.11M | ﹤0.01% |
+24,423
| New | +$1.14M |
|
172
eBay
EBAY
$46.4B
| $1.11M | ﹤0.01% |
12,750
-1,300
| -9% | -$113K |
|
173
Atour Lifestyle Holdings
ATAT
$4.8B
| $1.11M | ﹤0.01% |
+28,152
| New | +$1.1M |
|
174
Colgate-Palmolive
CL
$73.4B
| $1.11M | ﹤0.01% |
14,000
| – | – |
|
|
ZH
175
Zhihu
ZH
$263M
| $1.05M | ﹤0.01% |
319,164
+42,267
| +15% | +$169K |
|
Similar funds
Dodge & Cox's Q4 2025 Portfolio in Review
As of Q4 2025, Dodge & Cox held 228 positions worth $185B, down 0.04% from $185B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Dodge & Cox's Q4 2025 filing shows 9 new, 38 increased, 121 reduced and 6 closed positions. Its largest new stake was Brookfield: 41,280,320 shares worth $1.89B. The largest sale was Bank of New York Mellon, an estimated $999M.
By sector, the portfolio is most concentrated in Healthcare at 24% of assets, down from 24% a quarter earlier, followed by Financials and Industrials.
- Dodge & Cox's largest Q4 2025 buy was Brookfield: 41,280,320 shares worth $1.89B.
- Dodge & Cox added most to Aon in Q4 2025, an estimated $1.53B increase.
- Dodge & Cox's biggest Q4 2025 reduction was Bank of New York Mellon, cutting an estimated $999M.
- Dodge & Cox fully exited Teck Resources in Q4 2025, selling an estimated $345M.
- Dodge & Cox's ten largest holdings make up 27% of its $185B portfolio in Q4 2025.
- Dodge & Cox opened 9 new positions and closed 6 in Q4 2025.
- Dodge & Cox's portfolio value fell 0.04% quarter-over-quarter to $185B.
Based on Dodge & Cox's 13F filing for Q4 2025, filed 13 Feb 2026.