Dodge & Cox’s public long portfolio saw an increase of $7 billion in market value and rose to $84 billion in the first quarter. Here is a breakup of the buys and sells that were made in the last quarter according to the latest 13f filing.

dodge & Cox

Dodge & Cox New Buys

Dodge & Cox bought 3,946 shares of Kraft Foods Group Inc (NASDAQ:KRFT) and 37,865 shares of AbbVie Inc (NYSE:ABBV).

Major Additions

Position in CIGNA Corporation (NYSE:CI) was increased manifold by Dodge & Cox in the last quarter. From 1.33 million shares, Dodge & Cox increased their position to 5.5 million shares in Q1.  CIGNA Corporation (NYSE:CI) has been David Einhorn’s major long holding for some time now.

Dodge & Cox increased their long position in Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) to 6.8 percent of the common stock, according to a SEC filing in late April. This 13f filing describes holdings as of March 31 and is showing that the fund owns 123 million shares of Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V).  However according to the more updated SEC filing, Dodge & Cox owns 251 million shares of Nokia. Other hedge funds have not been as optimistic about the cellphone maker, and Nokia has been the target of shortselling by a large number of Tiger cubs and other notable investors.

Dodge & Cox increased their position in Chevron Corporation (NYSE:CVX) by 42 percent, and CVX makes up 1.32 percent of Dodge & Cox’s portfolio. The firm also made a significant increase to its stake in Google Inc (NASDAQ:GOOG) which is now 1.27 percent of the portfolio with a position in 1.3 million shares.

The firm also increased position in Petroleo Brasileiro Petrobras SA (NYSE:PBR) (NYSE:PBR.A) in Q1 and now owns 23.6 million shares of the company.


Dodge & Cox exited the small stakes it had in Northern Trust Corporation (NASDAQ:NTRS) and John Wiley & Sons Inc (NYSE:JW.A) in the last quarter.