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 |
SLB Ltd
SLB
|
+$868M |
| 2 |
HP
HPQ
|
+$637M |
| 3 |
Baidu
BIDU
|
+$431M |
| 4 |
ESRX
Express Scripts Holding Company
ESRX
|
+$417M |
| 5 |
MetLife
MET
|
+$388M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Merck
MRK
|
+$485M |
| 2 |
FedEx
FDX
|
+$282M |
| 3 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$122M |
| 4 |
TE Connectivity
TEL
|
+$83.1M |
| 5 |
CarMax
KMX
|
+$53.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.47% |
| 2 | Technology | 20.85% |
| 3 | Healthcare | 17.2% |
| 4 | Communication Services | 16.48% |
| 5 | Energy | 11.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
176
Amazon
AMZN
$2.82T
| $287K | ﹤0.01% |
15,400
| – | – |
2014 Q3
2 quarters
|
|
177
Toyota
TM
$219B
| $270K | ﹤0.01% |
1,930
| – | – |
2014 Q3
2 quarters
|
|
178
Verizon
VZ
$176B
| $267K | ﹤0.01% |
5,500
| – | – |
2013 Q2
7 quarters
|
|
179
Under Armour
UAA
$2.13B
| $266K | ﹤0.01% |
6,600
-3,000
| -31% | -$110K |
2014 Q3
2 quarters
|
|
180
Loews
L
$22B
| $257K | ﹤0.01% |
6,300
-1,000
| -14% | -$40.5K |
2013 Q2
7 quarters
|
|
181
Baxter International
BAX
$12.7B
| $232K | ﹤0.01% |
6,226
| – | – |
2013 Q2
7 quarters
|
|
|
ENDP
182
DELISTED
Endo International plc
ENDP
| $230K | ﹤0.01% |
+2,560
| New | +$214K |
2015 Q1
0 quarters
|
|
183
Automatic Data Processing
ADP
$108B
| $224K | ﹤0.01% |
2,620
| – | – |
2013 Q4
5 quarters
|
|
184
Whirlpool
WHR
$1.88B
| $222K | ﹤0.01% |
1,100
| – | – |
2014 Q4
1 quarter
|
|
185
DELISTED
Coterra Energy
CTRA
| $217K | ﹤0.01% |
7,360
| – | – |
2014 Q3
2 quarters
|
|
186
Sempra
SRE
$53.3B
| $209K | ﹤0.01% |
3,830
| – | – |
2014 Q2
3 quarters
|
|
187
SiriusXM
SIRI
$8.99B
| – | – |
-1,052
| Closed | -$37K | – |
|
|
MON
188
DELISTED
Monsanto Co
MON
| – | – |
-1,684
| Closed | -$201K | – |
|
|
SIRO
189
DELISTED
SIRONA DENTAL SYSTEMS INC COM STK
SIRO
| – | – |
-3,405
| Closed | -$297K | – |
|
|
COV
190
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
| – | – |
-78,686
| Closed | -$8.05M | – |
|
|
AGN
191
DELISTED
Allergan Inc
AGN
| – | – |
-3,264
| Closed | -$694K | – |
|
Similar funds
Dodge & Cox's Q1 2015 Portfolio in Review
As of Q1 2015, Dodge & Cox held 191 positions worth $109B, up 0.81% from $108B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Trading was light in Q1 2015: portfolio turnover was 3.7%. Dodge & Cox opened 2 new positions and exited 5, leaving the 191-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 22% a quarter earlier, followed by Technology and Healthcare.
- Dodge & Cox's largest Q1 2015 buy was Teck Resources: 22,071,213 shares worth $303M.
- Dodge & Cox added most to SLB Ltd in Q1 2015, an estimated $868M increase.
- Dodge & Cox's biggest Q1 2015 reduction was Merck, cutting an estimated $485M.
- Dodge & Cox fully exited COVIDIEN PLC COM SHS NEW (IRELAND) in Q1 2015, selling an estimated $8.05M.
- Dodge & Cox's ten largest holdings make up 34% of its $109B portfolio in Q1 2015.
- Dodge & Cox opened 2 new positions and closed 5 in Q1 2015.
- Dodge & Cox's portfolio value rose 0.81% quarter-over-quarter to $109B.
Based on Dodge & Cox's 13F filing for Q1 2015, filed 14 May 2015.