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 | |
|---|---|---|---|---|---|---|
176
Nucor
NUE
$57.4B
| $1.01M | ﹤0.01% |
6,200
| – | – |
|
177
Diageo
DEO
$52.1B
| $956K | ﹤0.01% |
11,077
| – | – |
|
178
Truist Financial
TFC
$61.9B
| $942K | ﹤0.01% |
19,151
-1,760
| -8% | -$81.1K |
|
179
Arcos Dorados Holdings
ARCO
$1.69B
| $829K | ﹤0.01% |
112,966
+3,000
| +3% | +$21.6K |
|
180
Grupo Cibest SA
CIB
$23.9B
| $766K | ﹤0.01% |
12,046
| – | – |
|
181
Blackrock
BLK
$182B
| $761K | ﹤0.01% |
711
+56
| +9% | +$61.2K |
|
182
Pricesmart
PSMT
$5.41B
| $755K | ﹤0.01% |
6,156
| – | – |
|
183
Intercorp Financial Services
IFS
$6.06B
| $737K | ﹤0.01% |
17,391
| – | – |
|
184
Ameriprise Financial
AMP
$49.5B
| $736K | ﹤0.01% |
1,500
| – | – |
|
185
Ambev
ABEV
$44.7B
| $732K | ﹤0.01% |
296,300
+20,000
| +7% | +$47.6K |
|
186
GeoPark
GPRK
$630M
| $689K | ﹤0.01% |
93,045
| – | – |
|
187
Mondelez International
MDLZ
$80.4B
| $637K | ﹤0.01% |
11,840
| – | – |
|
188
NVIDIA
NVDA
$5.08T
| $634K | ﹤0.01% |
3,400
| – | – |
|
189
Moody's
MCO
$89.1B
| $620K | ﹤0.01% |
1,213
-353
| -23% | -$172K |
|
|
Q
190
Qnity Electronics Inc
Q
$26.4B
| $613K | ﹤0.01% |
+7,503
| New | +$637K |
|
191
DuPont de Nemours
DD
$18.6B
| $597K | ﹤0.01% |
4,948
-7,141
| -59% | -$803K |
|
192
Genuine Parts
GPC
$19.2B
| $572K | ﹤0.01% |
4,650
-15
| -0.3% | -$1.94K |
|
|
LOMA
193
Loma Negra
LOMA
$1.13B
| $563K | ﹤0.01% |
43,482
+7,082
| +19% | +$75.7K |
|
194
APA Corp
APA
$14.4B
| $550K | ﹤0.01% |
22,500
-12,700
| -36% | -$307K |
|
195
Grupo Aeroportuario del Sureste
ASR
$7.88B
| $550K | ﹤0.01% |
1,700
| – | – |
|
196
Afya
AFYA
$1.28B
| $545K | ﹤0.01% |
35,387
+125
| +0.4% | +$1.84K |
|
197
Allstate
ALL
$66.2B
| $540K | ﹤0.01% |
2,595
| – | – |
|
198
Laureate Education
LAUR
$5.33B
| $529K | ﹤0.01% |
15,700
| – | – |
|
199
General Mills
GIS
$21.4B
| $521K | ﹤0.01% |
11,200
| – | – |
|
200
dLocal
DLO
$4.52B
| $519K | ﹤0.01% |
36,700
| – | – |
|
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.