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Dodge & Cox

Dodge & Cox

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%

Countries:

USA

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Dodge & Cox Watch

$81.3B Dodge & Cox - Three Sell Outs and 19 Reduced Positions
by Sally Jones - 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.

Here’s a review of the Dodge & Cox sell-outs along with an interactive valuation chart to track changing share prices over 10 years. All trades were made as of quarter ending March 31, 2013. Continue Reading »
Dodge & Cox Buys Kraft and AbbVie
by Holly LaFon - 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.

Last year, Dodge & Cox returned 22% to investors in its Stock Fund, though it is near even with the market over the past 10 years, with a 102.4% cumulative return compared to 99.7% for the S&P500. Long term, over the past 15 years, it performed much better, returning 191.7% cumulatively, compared to 93.8% for the index. Continue Reading »
Dodge & Cox Comments on Individual Stock Holdings
by Holly LaFon - Mar 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:

Google (GOOG) Continue Reading »
Dodge & Cox Comments on the Technology Sector
by Holly LaFon - Dec 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.

See the video here. Continue Reading »
Dodge & Cox Explain Why They Are Overweight in Pharmaceuticals
by Holly LaFon - Dec 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).

Watch the video here. Continue Reading »
Dodge & Cox’s Q3 Portfolio Updates: Buys Liberty Ventures, Google, Duke Energy and Allstate
by Dianne Tordillo - Nov 14, 2012
San Francisco-based Dodge & Cox reported a total of 24 updates to its portfolio in the third quarter consisting of:

Additions to Current Shares 6
New Buys 4
Reductions to Current Shares 10
Sold Out 4
Continue Reading »
Dodge & Cox Technology Sector Update
by Holly LaFon - Nov 12, 2012
Dodge & Cox discuss their increasing position size in the technology sector and the outlook for the sector.

Video here. Continue Reading »
Dodge & Cox Explains Quantitative Easing 3 and Fixed Income
by - Nov 12, 2012
Dodge & Cox provides insight into how quantitative easing affects fixed income investing.

Video here. Continue Reading »
Dodge & Cox CEO and Portfolio Managers 2012 Mid-Year Equity Review
by Holly LaFon - Aug 06, 2012
Dodge & Cox's chairman and CEO and portfolio managers discuss how their portfolios outperformed and macro events' effects on the markets in the first half of the year. Two stocks they mention specifically are Sanofi-Aventis (SNY), Facebook (FB), DirecTV (DTV), News Corp (NWS) and Time Warner (TWC).

[www.dodgeandcox.com] Continue Reading »
Dodge & Cox Buys Three New Positions: A, MCO, SPY
by Holly LaFon - May 11, 2012
Dodge & Cox has a portfolio of 168 stocks, including three tiny new positions they bought in the first quarter: Agilent Tech (A), Moodys Corp. (MCO) and the S&P 500 (SPY).

Managers at Dodge & Cox, a highly regarded investment firm, typically buy stocks whose long-term earnings and cash flow prospects exceed their current valuations. Their top holdings are: Hewlett Packard (HPQ), Wells Fargo (WFC), Capital One Financial (COF), Comcast Corp. (CMCSA) and GlaxoSmithKline (GSK). Continue Reading »
Dodge & Cox 2011 Equity Review
by Holly LaFon - Jan 17, 2012
Ken Olivier, Chairman and CEO of Dodge & Cox, with two of his associates, review their performance in 2011 in equities, as well as look forward and talk about the opportunities they are seeing now.

Dodge & Cox underperformed in 2011, they believe because of an aversion to risk due largely to the European situation, which drove down the prices of tech stocks and other economically sensitive cyclical names, and they were overweight in those areas. However, they think the economic situation has also created opportunities to buy attractive names that will do well in the longer term. Continue Reading »
Dodge & Cox Found Value in Their Top 5 Conviction Picks
by Federico Flom - Dec 28, 2011
Van Duyn Dodge and E. Morris Cox founded Dodge & Cox in 1930. In the past 12 months, the company stock fund gained 64.45%.

Dodge & Cox's investment approach is focused on the long term fundamental outlook and current valuation for each company in their Funds' diversified portfolio. Continue Reading »
Dodge & Cox Finds Value in Tech: Microsoft and HP
by teddycx - Aug 20, 2011
Dodge & Cox is a mutual fund firm with over $200 billion in assets under management. Founded in 1930, the firm has historically maintained a long-term investment horizon. Dodge & Cox employs rigorous price discipline, avoiding popular choices that come at price premiums. Instead, the firm continually focuses on the long term, emphasizing a company's underlying fundamentals to find investment opportunities. The firm undertakes rigorous research before selecting its stocks. It selects securities based on the their valuation whilst striving to maintain portfolio diversification. The firm believes that low valuation investments typically reflect low expectations that buffer against significant price decline, providing potential for capital appreciation should investor pessimism turn out to be unwarranted or short-lived. Although Dodge & Cox's Stock Fund has underperformed the S&P in recent years, its ten-year cumulative return of 68.8% trumps the S&P's return of 16.4% during the same stretch. In its second quarter portfolio update, Dodge & Cox added to its holdings in Microsoft (MSFT) and HP (HPQ).

Microsoft (MSFT) Continue Reading »
Dodge & Cox 2Q Letter - Comments Financials, Tech
by Holly LaFon - Aug 19, 2011
TO OUR SHAREHOLDERS

The Dodge & Cox Stock Fund had a total return of 6.3% for the six months ended June 30, 2011, compared to 6.0% for the S&P 500 Index. On June 30, the Fund had net assets of $43.8 billion with a cash position of 1.0%. Continue Reading »
Value Shop Dodge & Cox Reports Second Quarter Portfolio: Buy MSFT, HPQ, WMT, SCHW, GS, MRK
by gurufocus - Aug 19, 2011
Long term value shop Dodge & Cox just reported their second quarter portfolio. According to their latest semi-annual report, their fund slightly outperformed the market average during the first 6 months of the year. Over long term, the first has delivered impressive results. For the 10-year period ended on June 30, 2011, their stock fund gained 5.2% annually, compared with the 2.7% of the S&P 500. Especially they like technology sector for their durable business and financials for the low valuation.

Dodge & Cox buys Microsoft Corp., Hewlettpackard Co., Unilever Plc Ads, WalMart Stores, Celanese Corp. Series A, The Goldman Sachs Group Inc., Charles Schwab Corp., Merck & Co. Inc., Sanofiaventis Ads, Nokia Corp. Ads, Bank Of America Corp., Computer Sciences Corp., Mcgrawhill Cos., Lincoln National Corp, Jacobs Engineering Group Inc., Devon Energy Corp., Costco Wholesale Corp., Moodys Corp., sells Covidien, Walgreen Co., Motorola Solutions, Carefusion Corp., Loews Corp., Legg Mason Inc., Panasonic Corp. Ads, Domtar Corp, Macys Inc., Interpublic Group Of Cos. during the 3-months ended 06/30/2011, according to the most recent filings of his investment company, Dodge & Cox. As of 06/30/2011, Dodge & Cox owns 177 stocks with a total value of $86.2 billion. These are the details of the buys and sells. Continue Reading »
Dodge & Cox Mid-Year 2011 Fact Sheet
by Holly LaFon - Jul 29, 2011
Stock Fund

Objectives ▪ The Fund seeks long-term growth of principal and income. A secondary objective is to achieve a reasonable current income. Continue Reading »
Dodge & Cox Q1 Portfolio Update; Buys SNPS, MSFT, EQIX, REGN, HPQ
by - May 13, 2011
Dodge & Cox stock fund gained 64.45% over the past 12 months. The fund underperformed the S&P500 slightly over the past 5 years, but outperformed by 7% a year on average over the past 10 years. As of 03/31/2011, Dodge & Cox owns 179 stocks with a total value of $88.4 billion. These are the details of the buys and sells.

Dodge & Cox investment approach remains focused on the long term fundamental outlook and current valuation for each company in the Fund’s diversified portfolio. The Fund’s portfolio turnover has been correspondingly low (less than 20% during the past year). They wrote in their latest shareholder letter: Continue Reading »
Dodge & Cox First Quarter Shareholder Letter
by Holly LaFon - Apr 19, 2011
TO OUR SHAREHOLDERS

The Dodge & Cox Stock Fund had a total return of 6.7% for the first quarter of 2010, compared to a total return of 5.4% for the Standard & Poor's 500 Index (S&P 500). Please refer to page three for longer-term performance results. At quarter end, the Fund had net assets of $42.7 billion with a cash position of 1.6%. Continue Reading »
MorningStar: Dodge & Cox Has Faced It All and Stood Tall; Top Holdings: NVS, HPQ, SLB, GSK, CMCSA
by guruek - Sep 08, 2010
Morningstar gave Fund family Dodge & Cox some high remarks in a newly published article entitled “Dodge & Cox Has Faced It All and Stood Tall”. It is an encouraging article to read, especially if you are considering investing in their mutual funds. Why not? The firm has 80 years of history behind it, deep bench in portfolio management talents, decent track record, and what else do you need?

The truth is, even a steady firm like Dodge & Cox has hiccups occasionally. 2008 was good year to have such misfortunes as so many people had them. Dodge & Cox Stock Fund’s performance in recent years is listed below: Continue Reading »
Dodge & Cox Buys Goldman Sachs Group Inc., Apple Inc., Allstate Corp., Sells Automatic Data Processing, Ameriprise Financial, Moody's Corp.
by - Aug 23, 2010
Dodge & Cox, the investment firm that has devoted itself to value investing since the Great Depression, just reported its second quarter portfolio. These are the details of the buys and sells.

Dodge & Cox released their semi-annual report. This is the excerpt from the letter: Continue Reading »

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