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 |
RTX Corp
RTX
|
+$1.53B |
| 2 |
Linde
LIN
|
+$1.28B |
| 3 |
Occidental Petroleum
OXY
|
+$1.27B |
| 4 |
Cigna
CI
|
+$904M |
| 5 |
FedEx
FDX
|
+$752M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ESRX
Express Scripts Holding Company
ESRX
|
+$3.79B |
| 2 |
Medtronic
MDT
|
+$1.09B |
| 3 |
Dell
DELL
|
+$1.04B |
| 4 |
Union Pacific
UNP
|
+$861M |
| 5 |
Eli Lilly
LLY
|
+$803M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.53% |
| 2 | Healthcare | 19.64% |
| 3 | Communication Services | 17.52% |
| 4 | Technology | 13.35% |
| 5 | Energy | 9.42% |
Similar funds
Dodge & Cox's Q4 2018 Portfolio in Review
As of Q4 2018, Dodge & Cox held 194 positions worth $109B, down 17% from $131B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Dodge & Cox's Q4 2018 filing shows 4 new, 38 increased, 100 reduced and 13 closed positions. Its largest new stake was Linde: 8,101,094 shares worth $1.29B. The largest sale was Express Scripts Holding Company, an estimated $3.79B.
By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 23% a quarter earlier, followed by Healthcare and Communication Services.
- Dodge & Cox's largest Q4 2018 buy was Linde: 8,101,094 shares worth $1.29B.
- Dodge & Cox added most to RTX Corp in Q4 2018, an estimated $1.53B increase.
- Dodge & Cox's biggest Q4 2018 reduction was Medtronic, cutting an estimated $1.09B.
- Dodge & Cox fully exited Express Scripts Holding Company in Q4 2018, selling an estimated $3.79B.
- Dodge & Cox's ten largest holdings make up 30% of its $109B portfolio in Q4 2018.
- Dodge & Cox opened 4 new positions and closed 13 in Q4 2018.
- Dodge & Cox's portfolio value fell 17% quarter-over-quarter to $109B.
Based on Dodge & Cox's 13F filing for Q4 2018, filed 14 Feb 2019.