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 |
FedEx
FDX
|
+$631M |
| 2 |
SLB Ltd
SLB
|
+$550M |
| 3 |
TE Connectivity
TEL
|
+$541M |
| 4 |
Fox Class A
FOXA
|
+$517M |
| 5 |
RTX Corp
RTX
|
+$367M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$2B |
| 2 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$577M |
| 3 |
OPTU
Optimum Communications Inc
OPTU
|
+$411M |
| 4 |
American Express
AXP
|
+$239M |
| 5 |
Hewlett Packard
HPE
|
+$212M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.79% |
| 2 | Healthcare | 18.15% |
| 3 | Communication Services | 16.28% |
| 4 | Technology | 14.13% |
| 5 | Energy | 10.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Intel
INTC
$487B
| $226K | ﹤0.01% |
4,200
-800
| -16% | -$40.6K |
|
177
Macy's
M
$5.92B
| $219K | ﹤0.01% |
9,100
-500
| -5% | -$12.6K |
|
|
CTRA
178
DELISTED
Coterra Energy
CTRA
| $217K | ﹤0.01% |
8,300
-2,000
| -19% | -$50.2K |
|
|
OPTU
179
Optimum Communications Inc
OPTU
$389M
| – | – |
-24,852,965
| Closed | -$411M |
|
180
Liberty Latin America Class A
LILA
$1.63B
| – | – |
-960,452
| Closed | -$8.9M |
|
|
TFCFA
181
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| – | – |
-41,533,329
| Closed | -$2B |
|
|
TFCF
182
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| – | – |
-12,083,660
| Closed | -$577M |
|
|
DNB
183
DELISTED
Dun & Bradstreet
DNB
| – | – |
-3,291
| Closed | -$470K |
|
Similar funds
Dodge & Cox's Q1 2019 Portfolio in Review
As of Q1 2019, Dodge & Cox held 183 positions worth $122B, up 12% from $109B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Trading was light in Q1 2019: portfolio turnover was 3.8%. Dodge & Cox opened 2 new positions and exited 5, leaving the 183-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 25% a quarter earlier, followed by Healthcare and Communication Services.
- Dodge & Cox's largest Q1 2019 buy was Fox Class A: 13,278,252 shares worth $487M.
- Dodge & Cox added most to FedEx in Q1 2019, an estimated $631M increase.
- Dodge & Cox's biggest Q1 2019 reduction was American Express, cutting an estimated $239M.
- Dodge & Cox fully exited Twenty-First Century Fox, Inc. Class A in Q1 2019, selling an estimated $2B.
- Dodge & Cox's ten largest holdings make up 31% of its $122B portfolio in Q1 2019.
- Dodge & Cox opened 2 new positions and closed 5 in Q1 2019.
- Dodge & Cox's portfolio value rose 12% quarter-over-quarter to $122B.
Based on Dodge & Cox's 13F filing for Q1 2019, filed 14 May 2019.