Dodge & Cox

Dodge & Cox

Last Update: 08-14-2018

Number of Stocks: 176
Number of New Stocks: 3

Total Value: $125,158 Mil
Q/Q Turnover: 5%

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

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.

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of Dodge & Cox Stock FUND

YearReturn (%)S&P500 (%)Excess Gain (%)
201718.3221.71-3.4
201621.2711.999.3
2015-4.471.24-5.7
3-Year Cumulative37.1 (11.1%/year)38 (11.3%/year)-0.9 (-0.2%/year)
201410.4313.47-3.0
201340.5532.38.2
5-Year Cumulative112.7 (16.3%/year)107.2 (15.7%/year)5.5 (0.6%/year)
201222.0115.996.0
2011-4.081.9-6.0
201013.4915.05-1.6
200931.2726.354.9
2008-43.31-36.79-6.5
10-Year Cumulative110.3 (7.7%/year)125 (8.4%/year)-14.7 (-0.7%/year)
20070.145.14-5.0
200618.5315.852.7
20059.374.834.5
200419.1710.78.5
200332.3428.194.1
15-Year Cumulative330.5 (10.2%/year)307.7 (9.8%/year)22.8 (0.4%/year)
2002-10.54-21.5811.0
20019.33-11.7621.1
200016.31-9.7526.1
199920.2120.4-0.2
19985.428.7-23.3
20-Year Cumulative520.5 (9.6%/year)294.5 (7.1%/year)226 (2.5%/year)
199728.433.47-5.1
199622.2722.49-0.2
199533.5238.04-4.5
19945.170.44.8
199318.3310.088.2
25-Year Cumulative1518.8 (11.8%/year)883.9 (9.6%/year)634.9 (2.2%/year)
199210.827.623.2
199121.4730.47-9.0
1990-5.09-3.1-2.0
198926.9431.69-4.8
198813.7616.61-2.9
30-Year Cumulative2886.5 (12%/year)1955.8 (10.6%/year)930.7 (1.4%/year)
198711.955.16.8
198618.3118.6-0.3
198537.8631.66.3
19845.186.1-0.9
198326.5422.44.1
35-Year Cumulative7157.9 (13%/year)4279.5 (11.4%/year)2878.4 (1.6%/year)
198222.0721.40.7
1981-2.57-52.4
198033.1932.30.9

Top Ranked Articles

Dodge & Cox Opens 10% Stake in Tyco, Buys Mattel Tyco merger with Johnson Controls set off criticism over 'outrageous' tax inversion deal in 2016
In an era of well-dressed portfolio managers and activist shareholders, there is an old-school investment management firm known as Dodge & Cox. Read more...
Is There a Passive Investing Bubble, and Could It Burst? Guru Charles Brandes offers a firm 'yes' to the 1st question and a relatively confident 'yes' to the 2nd
Tapestry Unravels on Kate Spade’s Same-Store Sales Fashion house beats earnings, revenue estimates
Tapestry Inc. (NYSE:TPR), the parent company of fashion brands Coach, Kate Spade and Stuart Weitzman, reported third-quarter 2018 results before the opening bell on Tuesday. Read more...
Diamond Hill’s Top 3 New Investments for the 3rd Quarter The firm invested in Brighthouse Financial, American Campus and Starbucks
Investment firm Diamond Hill Capital (Trades, Portfolio) established positions in seven stocks during the third quarter. The top three purchases were Brighthouse Financial Inc. (NASDAQ:BHF), American Campus Communities Inc. (NYSE:ACC) and Starbucks Corp. (NASDAQ:SBUX). Read more...
5 Gurus' Stocks in the Energy Industry Baker Hughes, Dril-Quip on the list
According to the GuruFocus All-In-One Screener, the following energy stocks are popular among gurus Read more...
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Commentaries and Stories

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Dodge & Cox Comments on Comcast Guru stock highlight
Comcast (CMCST)—the largest U.S. cable provider—has been held in the Fund since 2002; over the years, we have actively added to and trimmed from the position based on relative valuation. In the first half of 2018, Comcast’s share price declined 17% amid concerns about its $31 billion cash offer to acquire UK-based pay-television company Sky PLC and its $65 billion all-cash bid for a majority of Twenty-First Century Fox’s assets. More...

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Dodge & Cox Comments on Wells Fargo Guru stock highlight
During the first half of 2018, we opportunistically added to Wells Fargo (NYSE:WFC) (down 7%), which was weak among bank stocks and detracted from performance. In February, Wells Fargo entered into a consent agreement with the Federal Reserve (Fed) that, among other things, placed restrictions on the bank’s asset growth (capped at $1.952 trillion). This regulatory agreement stemmed from Wells Fargo’s previously disclosed improper sales practices. More...

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Dodge & Cox's 2nd Quarter Stock Fund Shareholder Letter Discussion of markets and holdings Dodge & Cox - Dodge & Cox's 2nd Quarter Stock Fund Shareholder Letter
TO OUR SHAREHOLDERS More...

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Microsoft Rises on Strong Commercial Cloud Revenue Growth in Fiscal 2018 Company establishes strategic partnership with Walmart to accelerate digital innovation in retail Bill Gates, Dodge & Cox, PRIMECAP Management, Pion - Microsoft Rises On Strong Commercial Cloud Revenue Growth In Fiscal 2018
Microsoft Corp. (NASDAQ:MSFT), the application software giant founded by Bill Gates (Trades, Portfolio), said revenues for the 12 months ending June 30 increased 14% year over year, highlighted by significant growth in intelligent cloud and commercial cloud revenues. More...

BILL GATES, DODGE & COX, PRIMECAP MANAGEMENT, PIONEER INVESTMENTS, KEN FISHER


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Warren Buffett’s American Express Sinks Despite Record Revenues in 2nd Quarter Company accelerates revenue growth but revenues still fall short of consensus estimates Warren Buffett, Dodge & Cox, First Eagle Investmen - Warren Buffett’s American Express Sinks Despite Record Revenues In 2nd Quarter
American Express Co. (NYSE:AXP), a major Warren Buffett (Trades, Portfolio) holding, said second-quarter revenues increased to a record $10 billion on “higher spending” from consumer, small business and corporate card members. More...

WARREN BUFFETT, DODGE & COX, FIRST EAGLE INVESTMENT, KEN FISHER


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5 Gurus' Stocks in the Energy Industry Baker Hughes, Dril-Quip on the list Pioneer Investments,Dodge & Cox - 5 Gurus' Stocks In The Energy Industry
According to the GuruFocus All-In-One Screener, the following energy stocks are popular among gurus More...

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6 Stocks Outperforming the Market Baidu, Brown-Forman on the list Pioneer Investments,Dodge & Cox - 6 Stocks Outperforming The Market
According to the GuruFocus All-in-One Guru Screener, the following stocks have outperformed the Standard & Poor's 500 Index over the past 12 months and were bought by gurus during the last quarter. More...

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Dodge & Cox Buys Time Warner, VMWare, Wells Fargo Firm's largest buys of the 1st quarter Dodge & Cox - Dodge & Cox Buys Time Warner, VMWare, Wells Fargo
The value investment firm Dodge & Cox bought shares in the following stocks in the first quarter. More...

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Dodge & Cox Trims NetApp, Walmart, Target Firm's largest sales of the 1st quarter Dodge & Cox - Dodge & Cox Trims NetApp, Walmart, Target
Dodge & Cox, the investment firm founded by Van Duyn Dodge and E. Morris Cox, sold shares of the following stocks in the first quarter. More...

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Tapestry Unravels on Kate Spade’s Same-Store Sales Fashion house beats earnings, revenue estimates Dodge & Cox,John Buckingham - Tapestry Unravels On Kate Spade’s Same-Store Sales
Tapestry Inc. (NYSE:TPR), the parent company of fashion brands Coach, Kate Spade and Stuart Weitzman, reported third-quarter 2018 results before the opening bell on Tuesday. More...

TAPESTRY, KATE SPADE, COACH, STUART WEITZMAN, FASHION, BEAT, DECLINE


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Dodge & Cox Stock Fund 1st Quarter Commentary Discussion of holdings and market Dodge & Cox - Dodge & Cox Stock Fund 1st Quarter Commentary
The Dodge & Cox Stock Fund had a total return of –1.8% for the first quarter of 2018, compared to –0.8% for the S&P 500 Index. More...

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5 Energy Stocks in Gurus' Portfolios Investors are buying these popular stocks Pioneer Investments,Dodge & Cox - 5 Energy Stocks In Gurus' Portfolios
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Dodge & Cox Expands Stake in Telecom Operator The guru has 10% ownership of Zayo Group, which sells dark or unused fiber to connect users to data centers Dodge & Cox - Dodge & Cox Expands Stake In Telecom Operator
Dodge & Cox is binging on shares of Colorado-based telecom operator, Zayo Group Holdings Inc. (NYSE:ZAYO). More...

ZAYO, TECH, DARK FIBER, DATA-CENTERS, EARNINGS, DEBT, FREE CASH FLOW, INFRASTRUCTURE, CELL TOWERS


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Dodge & Cox Opens 10% Stake in Tyco, Buys Mattel Tyco merger with Johnson Controls set off criticism over 'outrageous' tax inversion deal in 2016 Dodge & Cox - Dodge & Cox Opens 10% Stake In Tyco, Buys Mattel
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MATTEL, TOYS, TAXES, INVERSION, MERGER, TYCO,


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Mason Hawkins Sells T. Rowe Price, Alphabet, FedEx Southeastern's largest sales of the 4th quarter PRIMECAP Management,Dodge & Cox - Mason Hawkins Sells T. Rowe Price, Alphabet, FedEx
Mason Hawkins (Trades, Portfolio) is the  chief executive officer and founder of Southeastern Asset Management. His firm sold shares of the following stocks during the fourth quarter. More...

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Dodge & Cox Comments on Baker Hughes GE Guru stock highlight
We have held Baker Hughes in the Fund since 1998, actively adding to and trimming from the position given relative valuation opportunities and changing fundamentals over the years. In July 2017, GE (NYSE:GE) Oil & Gas completed its acquisition of Baker Hughes, forming Baker Hughes GE (BHGE), now the second largest oilfield services company in the world after Schlumberger (also held in the Fund, 1.6% at year end). By combining oilfield services (Baker Hughes) and oilfield equipment (GE Oil & Gas) businesses, BHGE is the only company that serves the upstream, midstream, and downstream segments of the Oil, Gas, and Consumable Fuels industry. More...

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Dodge & Cox Comments on GlaxoSmithKline Guru stock highlight
The Fund recently re-established a position in GlaxoSmithKline (NYSE:GSK), after selling it in 2015. Based in the United Kingdom, the company has leading therapeutic franchises in respiratory care and HIV. In addition to its traditional pharmaceuticals business, the company is diversified through strong and growing businesses in vaccines and over-the-counter consumer health. More...

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Dodge & Cox Comments on Eli Lilly Guru stock highlight
During the second quarter of 2017, we initiated a position in Eli Lilly (NYSE:LLY), a leading drug company focused on branded pharmaceuticals and animal health products. As the only pharmaceutical company with a presence across all major drug classes in the diabetes field, it has an advantage in contracting and marketing products. Until recently, Eli Lilly was losing market share to Novo Nordisk and Sanofi in the key area of diabetes classes, given its smaller emerging markets footprint and lack of a basal insulin therapy. This trend reversed as Eli Lilly launched several new products during the last few years, and the company is now gaining share in most therapeutic areas within diabetes. Eli Lilly’s partnership with Boehringer Ingelheim, where costs and profits are shared 50/50, has been important in rejuvenating its diabetes portfolio. More...

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Dodge & Cox 4th Quarter Commentary Shareholder letter from the firm Dodge & Cox - Dodge & Cox 4th Quarter Commentary
TO OUR SHAREHOLDERS More...

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6 Stocks Beating the S&P 500 Alibaba tops the list of stocks that outperformed the benchmark over the past year PRIMECAP Management,Dodge & Cox - 6 Stocks Beating The S&P 500
According to the GuruFocus All-in-One Guru Screener, the following stocks have outperformed the Standard & Poor's 500 Index over the past 12 months and were bought by gurus in the last quarter. More...

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