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
| 1 |
NOV
NOV
|
+$997M |
| 2 |
ESRX
Express Scripts Holding Company
ESRX
|
+$448M |
| 3 |
EMC
EMC CORPORATION
EMC
|
+$409M |
| 4 |
JPMorgan Chase
JPM
|
+$313M |
| 5 |
APA Corp
APA
|
+$237M |
Top Sells
| 1 |
Merck
MRK
|
+$480M |
| 2 |
Xerox
XRX
|
+$476M |
| 3 |
Vodafone
VOD
|
+$356M |
| 4 |
BHI
Baker Hughes
BHI
|
+$315M |
| 5 |
FRX
FOREST LABORATORIES INC
FRX
|
+$303M |
Sector Composition
| 1 | Financials | 21.58% |
| 2 | Technology | 20.37% |
| 3 | Healthcare | 18.65% |
| 4 | Communication Services | 13.43% |
| 5 | Energy | 11.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
HP
HPQ
$22.7B
| $5.5B | 5.62% |
374,246,543
-2,616,108
| -0.7% | -$35.2M |
|
2
Novartis
NVS
$293B
| $3.95B | 4.04% |
51,828,345
-49,308
| -0.1% | -$3.59M |
|
3
SLB Ltd
SLB
$70.8B
| $3.83B | 3.91% |
39,244,199
-367,295
| -0.9% | -$33.2M |
|
4
Wells Fargo
WFC
$268B
| $3.61B | 3.69% |
72,553,999
-35,937
| -0% | -$1.67M |
|
5
Capital One
COF
$125B
| $3.6B | 3.69% |
46,709,425
-98,517
| -0.2% | -$7.23M |
|
6
Microsoft
MSFT
$2.9T
| $3.52B | 3.6% |
85,845,688
+130,589
| +0.2% | +$4.9M |
|
7
GSK
GSK
$105B
| $3.23B | 3.3% |
48,309,240
-74,480
| -0.2% | -$5.04M |
|
8
Comcast
CMCSA
$85.6B
| $2.77B | 2.83% |
110,726,008
-9,098,192
| -8% | -$237M |
|
|
SCHW
9
Charles Schwab
SCHW
$178B
| $2.45B | 2.51% |
89,705,117
-415,700
| -0.5% | -$10.9M |
|
|
TWX
10
DELISTED
Time Warner Inc
TWX
| $2.34B | 2.39% |
37,297,575
-312,762
| -0.8% | -$19.6M |
|
11
Sanofi
SNY
$105B
| $2.28B | 2.33% |
43,664,887
+36,158
| +0.1% | +$1.83M |
|
|
12
Merck
MRK
$306B
| $2.27B | 2.32% |
41,877,237
-9,263,587
| -18% | -$480M |
|
13
GE Aerospace
GE
$369B
| $2.23B | 2.28% |
17,997,071
-168,407
| -0.9% | -$20.8M |
|
|
BNY
14
Bank of New York Mellon
BNY
$104B
| $2.22B | 2.27% |
62,794,463
+4,826,739
| +8% | +$159M |
|
15
Bank of America
BAC
$422B
| $2.14B | 2.19% |
124,668,488
-655,933
| -0.5% | -$11M |
|
16
TE Connectivity
TEL
$57.8B
| $2.12B | 2.16% |
35,131,256
-59,975
| -0.2% | -$3.44M |
|
|
TWC
17
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $2.11B | 2.16% |
15,377,316
-146,872
| -0.9% | -$20.1M |
|
18
Pfizer
PFE
$140B
| $2.06B | 2.11% |
67,583,552
-1,231,912
| -2% | -$36.7M |
|
19
FedEx
FDX
$74.9B
| $2.01B | 2.06% |
15,160,662
-46,633
| -0.3% | -$6.33M |
|
20
Goldman Sachs
GS
$309B
| $1.81B | 1.85% |
11,027,800
-33,100
| -0.3% | -$5.57M |
|
21
Gen Digital
GEN
$15.8B
| $1.67B | 1.71% |
83,534,567
+2,972,500
| +4% | +$63.6M |
|
|
TFCFA
22
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $1.5B | 1.53% |
46,769,066
-362,300
| -0.8% | -$11.8M |
|
23
Alphabet (Google) Class C
GOOG
$4.28T
| $1.4B | 1.43% |
50,308,786
-76,164
| -0.2% | -$2.22M |
|
24
Walmart Inc
WMT
$913B
| $1.38B | 1.41% |
54,161,526
+3,980,457
| +8% | +$100M |
|
25
Chevron
CVX
$363B
| $1.31B | 1.34% |
11,045,812
-385,570
| -3% | -$44.8M |
|
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