Dodge & Cox

Dodge & Cox

Last Update: 06-09-2015

Number of Stocks: 187
Number of New Stocks: 2

Total Value: $108,503 Mil
Q/Q Turnover: 4%

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

Dodge & Cox Watch

  • Dodge & Cox International Stock Fund Q2 Commentary 2015

    The Dodge & Cox International Stock Fund had a total return of –0.3% for the second quarter of 2015, compared to 0.6% for the MSCI EAFE (Europe, Australasia, Far East) Index. For the six months ended June 30, 2015, the Fund had a total return of 3.9%, compared to 5.5% for the MSCI EAFE. At quarter end, the Fund had net assets of $69.7 billion with net cash of 1.7%.


    Market Commentary

      


  • Dodge & Cox Global Stock Fund Second-Quarter Commentary 2015

    The Dodge & Cox Global Stock Fund had a total return of 0.8% for the second quarter of 2015, compared to 0.3% for the MSCI World Index. For the six months ended June 30, 2015, the Fund had a total return of 2.2%, compared to 2.6% for the MSCI World. At quarter end, the Fund had net assets of $6.5 billion with net cash of 1.7%.


    Market Commentary

      


  • Dodge & Cox Fund Second Quarter Commentary 2015

    The Dodge & Cox Stock Fund had a total return of 2.6% for the second quarter of 2015, compared to 0.3% for the S&P 500 Index. For the six months ended June 30, 2015, the Fund had a total return of 1.4%, compared to 1.2% for the S&P 500. At quarter end, the Fund had net assets of $59.9 billion with net cash of 0.7%.


    Market commentary

      


  • Bill Frels' Stocks With Growing Yields

    Bill Frels (Trades, Portfolio) is the portfolio manager at Mairs & Power, which is an SEC-registered investment advisory firm and is Minnesota's oldest investment firm under private ownership and management.


    His portfolio is composed of 187 stocks and it has a total value of $7,270 million.

      


  • Dodge & Cox Reduces Stake in AOL

    San Francisco-based firm Dodge & Cox was founded in 1930 and prides itself on having a strong and reliable team of investors that have worked together for over a decade. Consistency over a long period of time seems to be the firm's approach on investing as well. Dodge & Cox looks for long-term trends in companies rather than short-term market trends, which is why the firm has such a low quarter-over-quarter turnover rate of 4%.


    With 187 positions in its portfolio valued at $108.5 billion, 22.9% of the stocks are in the technology sector, 21.5% of its positions are financial services and 16% are in the healthcare sector.

      


  • Guru Stocks at 52-Week Lows: XOM, WMT, PG, CVX, GSK

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


    Exxon Mobil Corporation (NYSE:XOM) Reached the 52-Week Low of $84.02

      


  • Dodge & Cox Buys 2 New Stocks

    Dodge & Cox was founded in 1930 and is a firm employing a long-term approach and strict price discipline. It has $250 billion in assets under management and returned 11.32% on average annually over the past 20 years, compared to 9.39% for the S&P 500.


    The managers discussed their view of market valuations and portfolio positioning in their first quarter fact sheet:

      


  • Dodge & Cox Keeps Buying Express Scripts

    Dodge & Cox (Trades, Portfolio) 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.


    In terms of investment philosophy, 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.

      


  • Dodge & Cox’ Stock Fund Q1 2015 Commentary

    The Dodge & Cox Stock Fund had a total return of –1.2% for the first quarter of 2015, compared to 1.0% for the S&P 500 Index. At quarter end, the Fund had net assets of $59.4 billion with net cash of 0.4%.


    MARKET COMMENTARY

      


  • Dodge & Cox’ Global Stock Fund Q1 2015 Commentary

    The Dodge & Cox Global Stock Fund had a total return of 1.4% for the first quarter of 2015, compared to 2.3% for the MSCI World Index. At quarter end, the Fund had net assets of $6.3 billion with net cash of 2.9%.


    MARKET COMMENTARY

      


  • Morgan Stanley's Q1 Results Beat Wall Street Estimates

    In this article, let's take a look at Morgan Stanley (NYSE:MS), a $72.64 billion market cap company, which is a financial holding company that provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide.


    Beating Consensus Estimates

      


  • Market Valuations and Expected Returns – March 12, 2015

    The market was up more than 30% in 2013, the best year since the go-go years of 1990s. 2014 was another strong year for the market. The S&P 500 index was up more than 13%. Since the market recovery in 2009, the stock market has been up for 6 consecutive years. Yet in January 2015, the stock market benchmark S&P 500 lost 3.10%. In February, the market regained its strength by increasing 5.49%. Can market continue to grow in 2015?


    Bernard Baruch once said “A market without bears would be like a nation without a free press. There would be no one to criticize and restrain the false optimism that always leads to disaster.”

      


  • Weekly CEO Buys Highlight: S, OPK, CAPL, CLF, MOSY

    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:


    Sprint Corp: President and CEO Raul Marcelo Claure bought 5,080,000 shares

      


  • Bill Nygren Focuses On Apache Corp.

    Bill Nygren (Trades, Portfolio) is portfolio manager of The Oakmark Fund, The Oakmark Select Fund and the Oakmark Global Select Fund. Nygren has an M.S. in finance from the University of Wisconsin-Madison and a B.S. in accounting from the University of Minnesota.


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

      


  • Prem Watsa Top Growing Stocks

    “Why do Roman bridges historically last for a long, long time? Why did they last for a long time? The key reason was that the people who designed the bridges had to stand underneath it before the traffic went on. So they made sure there was a massive margin of safety. And bridges lasted for years and years and years. “


    This is just one of the wise quotes from guru Prem Watsa (Trades, Portfolio), owner of Fairfax Financial Holdings, a fund with $1,545 Mil of Total Value with 43 Stocks on its portfolio.

      


  • Dodge & Cox 2014 Equity Year in Review



  • Guru David Tepper Adds One Company to Portfolio in Fourth Quarter

    Hedge fund manager and founder of Appaloosa Management David Tepper (Trades, Portfolio) has built a reputation over the years for investing in distressed companies.


    Tepper bought only one stock in the fourth quarter – American Realty Capital Properties Inc (NASDAQ:ARCP), a Phoenix-based real estate company. Tepper bought 2,927,632 shares in the company for an average price of $9.77 per share.

      


  • Dodge & Cox’s Global Stock Fund Comments on Siam Commercial Bank

    Siam Commercial Bank (BKK:SCB), the largest retail bank in Thailand, is a new addition to the Fund. During late 2013 and early 2014, Thailand lacked a functioning government, and the country’s stock market suffered. Siam Commercial’s stock was no exception, as its valuation declined to eight times forward earnings. During prior periods of political uncertainty, the Thai economy continued to grow, and Siam Commercial delivered an attractive return on shareholder’s equity and increased its book value per share.


    As a part of our due diligence process for owning Kasikornbank in Thailand, we had closely followed Siam Commercial to understand the competitive landscape. After conducting additional in-depth research, we concluded that these political concerns provided us with a long-term investment opportunity at a low valuation. Siam Commercial’s leading positions in retail banking and fee-related financial services provide it with a durable franchise. We believe that the company’s high return on equity—generated by a combination of stable net interest margins, high fee income, ample provisions, efficient operations, and moderate leverage—is sustainable over our investment horizon. Furthermore, we believe that Siam Commercial is well prepared to absorb economic volatility, given its high profitability, capital levels, and loan loss reserves. After weighing these opportunities against the political risk, we initiated a position; Siam Commercial was a 0.4% holding in the Fund at year end.

      


  • Dodge & Cox’s Global Stock Fund Comments on Standard Chartered

    Domiciled in the United Kingdom, Standard Chartered (LSE:STAN) has extensive geographic reach. The company provides consumer and wholesale banking products to customers throughout the emerging markets (especially in Asia, Africa, and the Middle East); approximately a third of the company’s deposits are located in Greater China. Falling commodity prices, concerns about asset quality, regulatory fines, and increasing capital requirements in the United Kingdom weighed on the company’s share price, and its valuation fell to 0.8 times book value in October, a historically low level.


    Standard Chartered has been held in the Fund since 2008. Over the years, we have spent considerable time researching and analyzing the company in various market environments. Standard Chartered’s broad network across the developing world would be very difficult to replicate today. The company’s global payments and trade business is a particular strength: local roots from its longstanding presence allow for local currency funding, and cooperation across the network provides integrated wholesale banking services to clients. The bank is exposed to economic growth and increasing trade flows in emerging markets.

      


  • Dodge & Cox’s Global Stock Fund Q4 2014 Shareholder Letter

    TO OUR SHAREHOLDERS


    The Dodge & Cox Global Stock Fund had a total return of 6.9%, compared to a return of 4.9% for the MSCI World Index for the year ending December 31, 2014. At year end, the Fund had net assets of $5.9 billion with a cash position of 3.1%.

      


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