Dodge & Cox 13F, Q4 2023
Dodge & Cox · quarter ending 31 December 2023 · filed 22 February 2024 · SEC CIK 200217
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2023
The 25 largest of 197 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2023 filing.
| Company | Ticker | Value | % of book | vs Q3 2023 |
|---|---|---|---|---|
| The Charles Schwab Corp. | SCHW | $5.95B | 3.8% | +11% shares |
| Wells Fargo & Co. | WFC | $5.77B | 3.7% | unchanged |
| Occidental Petroleum Corp. | OXY | $4.84B | 3.1% | -11% shares |
| Fiserv, Inc. | FISV | $4.63B | 2.9% | unchanged |
| Alphabet, Inc. | GOOG | $4.40B | 2.8% | -12% shares |
| Microsoft Corp. | MSFT | $4.07B | 2.6% | -5% shares |
| The Cigna Group | CI | $3.96B | 2.5% | unchanged |
| Johnson Controls International PLC | $3.91B | 2.5% | +6% shares | |
| Sanofi | SNY | $3.89B | 2.5% | unchanged |
| RTX Corp. | RTX | $3.55B | 2.3% | +30% shares |
| MetLife, Inc. | MET | $3.53B | 2.2% | unchanged |
| FedEx Corp. | FDX | $3.43B | 2.2% | -6% shares |
| Capital One Financial Corp. | COF | $3.31B | 2.1% | -11% shares |
| Comcast Corp. | CMCSA | $3.27B | 2.1% | unchanged |
| Charter Communications, Inc. | CHTR | $3.26B | 2.1% | unchanged |
| The Bank of New York Mellon Corp. | BNY | $3.06B | 1.9% | unchanged |
| UBS Group AG | $2.86B | 1.8% | -33% shares | |
| Booking Holdings, Inc. | BKNG | $2.82B | 1.8% | unchanged |
| Gilead Sciences, Inc. | GILD | $2.70B | 1.7% | unchanged |
| Amazon.com, Inc. | AMZN | $2.68B | 1.7% | -2% shares |
| GSK PLC | GSK | $2.56B | 1.6% | unchanged |
| CVS Health Corp. | CVS | $2.40B | 1.5% | +14% shares |
| Fidelity National Information Services, Inc. | FIS | $2.26B | 1.4% | +3% shares |
| Bank of America Corp. | BAC | $2.23B | 1.4% | unchanged |
| TE Connectivity, Ltd. | $2.20B | 1.4% | unchanged |
What changed since Q3 2023
Against the Q3 2023 filing, Dodge & Cox opened 10 new positions, added to 25, trimmed 41, left 121 unchanged and exited 5. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- IFF$1.25B
- AEG$719.86M
- Liberty Global, Ltd.$163.79M
- Liberty Global, Ltd.$84.72M
- AVGO$62.23M
- HDB$37.68M
- TSM$6.40M
- Intercorp Financial Services, Inc.$592.9K
and 2 more
Exited
- VMware, Inc.was $3.29B
- Aegon NVwas $602.57M
- Liberty Global PLCwas $166.33M
- Liberty Global PLCwas $83.13M
- Liberty Media Corpwas $607.4K
Other quarters
Source: SEC Form 13F-HR, accession 0000950123-24-002715, filed by DODGE & COX. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.