Dodge & Cox

Last Update: 2013-06-07

Number of Stocks: 163
Number of New Stocks: 2

Total Value: $81,388 Mil
Q/Q Turnover: 3%

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Details: Top Buys | Top Sales | Top Holdings Embed:

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Dodge & Cox's Profile & Performance

Profile

Dodge & Cox was founded in 1930, by Van Duyn Dodge and E. Morris Cox. As of March 2006, Dodge & Cox managed over $104 billion in separate accounts and mutual funds.

Web Page:http://www.dodgeandcox.com/

Investing Philosophy

Dodge & Cox employs a team research approach in making investment decisions. The investment decisions are made by the Investment Policy Committee. The nine members of this committee include Wendell W. Birkhofer, Bryan Cameron, John A. Gunn, Harry R. Hagey, David C. Hoeft, Kenneth E. Olivier, Charles F. Pohl, Gregory R. Serrurier, and Diana S. Strandberg. Dodge & Cox believe that a well-tuned, group decision making process enhances individual thinking and moves the portfolio beyond dependence on any single person. The Dodge & Cox team is guided both in what they buy and what they sell by an ongoing search for superior relative value, steering clear of popular choices that come at a price they would rather not pay. Investing when valuations are low creates greater potential for capital appreciation. They look to be long-term owners of companies whose current valuations don’t reflect their long-term earnings and cash-flow prospects.

Total Holding History

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Performance of Dodge & Cox Stock FUND

Year	Return (%)	S&P500 (%)	Excess Gain (%)
2012	22.01	15.4	6.6
2011	-4.08	2.08	-6.2
2010	13.49	15.06	-1.6
3-Year Cumulative	32.8 (9.9%/year)	35.5 (10.7%/year)	-2.7 (-0.8%/year)
2009	31.27	26.46	4.8
2008	-43.31	-37	-6.3
5-Year Cumulative	-1.2 (-0.2%/year)	8 (1.5%/year)	-9.2 (-1.7%/year)
2007	0.14	5.61	-5.5
2006	18.53	15.79	2.7
2005	9.37	4.91	4.5
2004	19.17	12	7.2
2003	32.34	28.7	3.6
10-Year Cumulative	102.4 (7.3%/year)	99.7 (7.2%/year)	2.7 (0.1%/year)
2002	-10.54	-22.1	11.6
2001	9.33	-11.9	21.2
2000	16.31	-9.1	25.4
1999	20.21	21	-0.8
1998	5.4	28.6	-23.2
15-Year Cumulative	191.7 (7.4%/year)	93.8 (4.5%/year)	97.9 (2.9%/year)
1997	28.4	33.4	-5.0
1996	22.27	23	-0.7
1995	33.52	37.6	-4.1
1994	5.17	1.3	3.9
1993	18.33	10.1	8.2
20-Year Cumulative	660.9 (10.7%/year)	388.1 (8.2%/year)	272.8 (2.5%/year)
1992	10.82	7.6	3.2
1991	21.47	30.5	-9.0
1990	-5.09	-3.1	-2.0
1989	26.94	31.7	-4.8
1988	13.76	16.6	-2.8
25-Year Cumulative	1303.8 (11.1%/year)	919.9 (9.7%/year)	383.9 (1.4%/year)
1987	11.95	5.1	6.8
1986	18.31	18.6	-0.3
1985	37.86	31.6	6.3
1984	5.18	6.1	-0.9
1983	26.54	22.4	4.1
30-Year Cumulative	3311.5 (12.5%/year)	2072.7 (10.8%/year)	1238.8 (1.7%/year)
1982	22.07	21.4	0.7
1981	-2.57	-5	2.4
1980	33.19	32.3	0.9

Commentaries and Stories

Currently 4.00/5

Rating: 4.0/5 (2 votes)

$81.3B Dodge & Cox - Three Sell Outs and 19 Reduced Positions

May 15, 2013

Boston-based Dodge & Cox Funds in the first quarter of 2013 sold out three holdings and reduced its position in 19 companies. The mutual fund company unloaded companies in publishing, telecommunications and asset management. More...

TELECOMMUNICATION SERVICES, PUBLISHING, ASSET MANAGEMENT, INSURANCE - DIVERSIFIED

Currently 2.50/5

Rating: 2.5/5 (4 votes)

Dodge & Cox Buys Kraft and AbbVie

May 14, 2013

Classic value investors Dodge & Cox scour markets for the best bargains, and in the first quarter, they found only two to their liking: Kraft Foods Group Inc. (KRFT) and AbbVie Inc. (ABBV). Their $81.34 billion portfolio experienced a 3% quarter-over-quarter turnover and ended the quarter with 163 holdings. More...

Currently 5.00/5

Rating: 5.0/5 (1 vote)

The Gurus and Google

May 14, 2013

Now that Google Inc. (GOOG) is trading above $800 per share and it's up 31% in the first quarter of 2013, here’s an update on Google’s performance and a look at the Gurus trading as found on GuruFocus Real Time Picks. Up 45% over 12 months, Google Inc. (GOOG) has a market cap of $288.24 billion, and a P/E of 25.80. It currently trades at $877.53 per share. More...

Currently 5.00/5

Rating: 5.0/5 (1 vote)

Weekly CEO Buys Highlight: PBI, DRIV, CYS, KAMN, WLT

May 13, 2013

According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below: More...

Currently 4.00/5

Rating: 4.0/5 (2 votes)

Dodge & Cox Comments on Individual Stock Holdings

March 19, 2013

Long term-oriented, value investing firm Dodge & Cox had a good 2012 – its Dodge & Cox Stock Fund gained approximately 22% and its global and international funds each returned approximately 21% to investors. Dodge & Cox portfolios changed little during the year. Management at Dodge & Cox commented on the strategy that drove performance and individual stock holdings in its 2012 Year in Review discussion. You can watch the whole video here. Here are their comments on individual stocks: More...

Currently 5.00/5

Rating: 5.0/5 (4 votes)

10 Billionaires Buy ADT Buzz

March 18, 2013

What do these 10 billionaire investor Gurus have in common? They all recently invested in electronic security company, ADT Corporation (ADT), a GuruFocus top-ranked predictable company, at the end of 2012. A Tyco International spin-out dedicated to electronic security products and solutions, ADT got the attention of Investor Gurus Julian Robertson, John Burbank, Dodge & Cox, George Soros, Jean-Marie Eveillard, John Keeley, Mario Gabelli, Steven Cohen James Barrow, and [url=http://www.gurufocus.com/StockBuy.php?GuruName=Paul+Tudor+Jones]Paul More...

SECURITY, PROTECTION SERVICES

Currently 2.00/5

Rating: 2.0/5 (2 votes)

Hewlett-Packard's Turnaround Starts to Gain Traction, Darden and Abercrombie Guide Lower

February 22, 2013

U.S. equity markets are trying to rebound after yesterday’s pullback with earnings continuing to come in. Keep an eye out for commentary on the consumer and the effect of higher gas prices. Consumers are already starting to have an effect on consumer spending habits and that might put a wrench on the economy. With that in mind, several consumer discretionary stocks reported earnings and provided some insight into the “state” of the consumer. More...

Currently 4.00/5

Rating: 4.0/5 (1 vote)

Early Movers for Tuesday February 5, 2013

February 5, 2013

The markets look to rebound today after yesterday’s pullback as the S&P 500 had its biggest decline since November. In my opinion, market valuations are a bit rich with the Shiller P/E, a ratio to measure the markets current valuation, trading well above its mean. To bring this measure closer to the mean, corporate profits would have to increase or the market would have to decline. Earnings season will give us a better picture of the former. More...

Currently 4.00/5

Rating: 4.0/5 (2 votes)

Guru Stocks at 52-Week Lows: MSFT, VOD, NTT, TEVA, FE

January 7, 2013

According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows. More...

Currently 4.33/5

Rating: 4.3/5 (3 votes)

Dodge & Cox Comments on the Technology Sector

December 14, 2012

Dodge & Cox has been increasing its exposure to the technology sector over the past few years. Some of their largest investments in the industry include TE Connectivity (TEL), Symantec Corp. (SYMC), Synopsis (SNPS), NetApp Inc. (NTAP) and Adobe Systems (ADBE). They discuss their thesis on technology in a new video. More...

Currently 4.00/5

Rating: 4.0/5 (3 votes)

Dodge & Cox Explain Why They Are Overweight in Pharmaceuticals

December 13, 2012

Dodge & Cox analysts explain why they have been building large positions in pharmaceuticals in recent years. The biggest pharmaceutical stocks that the firm owns are: Novartis AG (NVS), GlaxoSmithKline (GSK) and Sanofi (SNY). More...

Currently 2.71/5

Rating: 2.7/5 (7 votes)

Dodge & Cox’s Q3 Portfolio Updates: Buys Liberty Ventures, Google, Duke Energy and Allstate

November 14, 2012

San Francisco-based Dodge & Cox reported a total of 24 updates to its portfolio in the third quarter consisting of: More...

Currently 3.67/5

Rating: 3.7/5 (3 votes)

Dodge & Cox Technology Sector Update

November 12, 2012

Dodge & Cox discuss their increasing position size in the technology sector and the outlook for the sector. More...

Currently 3.00/5

Rating: 3.0/5 (5 votes)

Dodge & Cox Explains Quantitative Easing 3 and Fixed Income

November 12, 2012

Dodge & Cox provides insight into how quantitative easing affects fixed income investing. More...

Currently 3.80/5

Rating: 3.8/5 (5 votes)

Weekly CEO Buys Highlight: APD, PG, TWIN, CYS, CLGX

November 4, 2012

According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below: More...

Currently 3.60/5

Rating: 3.6/5 (5 votes)

Guru Stocks at 52-Week Lows: EXC, DELL, CAH, ENI, MRVL

September 18, 2012

According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows. More...

Currently 3.29/5

Rating: 3.3/5 (7 votes)

Guru Stocks at 52-Week Lows: HPQ, EXC, CHT, DELL, CAH

September 10, 2012

According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows. More...

Currently 2.63/5

Rating: 2.6/5 (8 votes)

Guru Stocks at 52-Week Lows: VALE, RIO, FB, AAUKY, HPQ

September 3, 2012

According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows. Vale SA (VALE) Reached the 52-Week Low of $16.36 More...

Currently 4.00/5

Rating: 4.0/5 (5 votes)

Vice Chairman & CFO of NextEra Energy Moray Dewhurst Sold 100,000 Shares

August 21, 2012

NextEra Energy Inc., formerly known as FPL Group Inc., has a market cap of $29.03 billion; its shares were traded at around $68.78 with a P/E ratio of 15.4 and P/S ratio of 1.9. The dividend yield of Nextera Energy Inc. stocks is 3.4%. Nextera Energy Inc. had an annual average earnings growth of 5.9% over the past 10 years. More...

Currently 2.67/5

Rating: 2.7/5 (3 votes)

Weekly Guru Bargains Highlights: WFT, PBI, SWY, NFLX, JCP

August 18, 2012

According to GuruFocus updates, these stocks have declined the most since Gurus have bought. Weatherford Int (WFT): Down 21% Since T Boone Pickens Bought In the Quarter Ended on 2012-03-31 More...