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 |
Union Pacific
UNP
|
$952M |
| 2 |
JD.com
JD
|
$584M |
| 3 |
American Express
AXP
|
$566M |
| 4 |
Goldman Sachs
GS
|
$422M |
| 5 |
AstraZeneca
AZN
|
$402M |
Top Sells
| 1 |
Microsoft
MSFT
|
$753M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
$486M |
| 3 |
TE Connectivity
TEL
|
$396M |
| 4 |
Cadence Design Systems
CDNS
|
$306M |
| 5 |
Gen Digital
GEN
|
$252M |
Sector Composition
| 1 | Financials | 22.14% |
| 2 | Technology | 21.47% |
| 3 | Communication Services | 17.25% |
| 4 | Healthcare | 14.29% |
| 5 | Energy | 10.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Shares Change % | Capital Flow | |
|---|---|---|---|---|---|---|
1
Schlumberger
SLB
$55B
| $4.62B | 4.52% | 62,666,542 -694,995 | -1% | -$51.3M |
|
2
Hewlett Packard
HPE
$29.6B
| $3.97B | 3.89% | 224,069,718 +6,540,190 | +3% | +$116M |
|
|
TWC
3
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $3.73B | 3.65% | 18,227,262 -1,192,884 | -6% | -$244M |
|
4
Capital One
COF
$145B
| $3.4B | 3.33% | 49,048,291 +159,877 | +0.3% | +$11.1M |
|
5
Wells Fargo
WFC
$263B
| $3.28B | 3.21% | 67,922,588 -1,990,802 | -3% | -$96.3M |
|
6
Novartis
NVS
$245B
| $3.26B | 3.19% | 45,054,916 -52,169 | -0.1% | -$3.78M |
|
|
7
Microsoft
MSFT
$3.77T
| $2.92B | 2.86% | 52,928,060 -13,631,845 | -20% | -$753M |
|
8
Bank of America
BAC
$376B
| $2.92B | 2.85% | 215,803,933 +28,729,070 | +15% | +$388M |
|
9
Charles Schwab
SCHW
$174B
| $2.89B | 2.82% | 103,001,887 +379,250 | +0.4% | +$10.6M |
|
|
TWX
10
DELISTED
Time Warner Inc
TWX
| $2.77B | 2.7% | 38,112,381 +10,422 | +0% | +$756K |
|
11
Comcast
CMCSA
$125B
| $2.67B | 2.61% | 43,741,144 -194,387 | -0.4% | -$11.9M |
|
12
HP
HPQ
$26.7B
| $2.47B | 2.41% | 200,347,510 +610,632 | +0.3% | +$7.52M |
|
|
EMC
13
DELISTED
EMC CORPORATION
EMC
| $2.46B | 2.41% | 92,291,552 -3,516,800 | -4% | -$93.7M |
|
|
14
Alphabet (Google) Class C
GOOG
$2.58T
| $2.39B | 2.34% | 3,213,014 -65,842 | -2% | -$49M |
|
15
Sanofi
SNY
$121B
| $2.15B | 2.1% | 53,530,129 +3,615,056 | +7% | +$145M |
|
|
16
Goldman Sachs
GS
$226B
| $2.12B | 2.07% | 13,489,040 +2,690,050 | +25% | +$422M |
|
17
Walmart
WMT
$774B
| $2.07B | 2.03% | 30,270,241 -665,952 | -2% | -$45.6M |
|
18
FedEx
FDX
$54.5B
| $2.02B | 1.97% | 12,389,882 +78,290 | +0.6% | +$12.7M |
|
19
Bank of New York Mellon
BK
$74.5B
| $1.99B | 1.95% | 54,047,847 -237,700 | -0.4% | -$8.75M |
|
20
Cisco
CSCO
$274B
| $1.97B | 1.92% | 69,095,628 +1,341,950 | +2% | +$38.2M |
|
21
UnitedHealth
UNH
$281B
| $1.96B | 1.91% | 15,183,189 +1,324,136 | +10% | +$171M |
|
22
Cigna
CI
$80.3B
| $1.86B | 1.82% | 13,554,225 +38,360 | +0.3% | +$5.26M |
|
|
23
TE Connectivity
TEL
$61B
| $1.79B | 1.75% | 28,899,289 -6,401,443 | -18% | -$396M |
|
|
24
American Express
AXP
$231B
| $1.62B | 1.58% | 26,360,258 +9,222,970 | +54% | +$566M |
|
25
JPMorgan Chase
JPM
$829B
| $1.56B | 1.53% | 26,416,949 +78,910 | +0.3% | +$4.67M |
|