Dodge & Cox 13F, Q1 2025
Dodge & Cox · quarter ending 31 March 2025 · filed 14 May 2025 · SEC CIK 200217
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2025
The 25 largest of 214 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2024 filing.
| Company | Ticker | Value | % of book | vs Q4 2024 |
|---|---|---|---|---|
| The Charles Schwab Corp. | SCHW | $6.95B | 4.0% | unchanged |
| Fiserv, Inc. | FISV | $6.76B | 3.9% | -5% shares |
| Johnson Controls International PLC | $5.67B | 3.2% | -12% shares | |
| RTX Corp. | RTX | $5.61B | 3.2% | -5% shares |
| CVS Health Corp. | CVS | $4.98B | 2.8% | +5% shares |
| MetLife, Inc. | MET | $4.33B | 2.5% | unchanged |
| Charter Communications, Inc. | CHTR | $4.24B | 2.4% | unchanged |
| Wells Fargo & Co. | WFC | $4.14B | 2.4% | -18% shares |
| Sanofi SA | SNY | $4.06B | 2.3% | -3% shares |
| Occidental Petroleum Corp. | OXY | $3.99B | 2.3% | +16% shares |
| Gilead Sciences, Inc. | GILD | $3.66B | 2.1% | unchanged |
| Booking Holdings, Inc. | BKNG | $3.57B | 2.0% | unchanged |
| The Bank of New York Mellon Corp. | BNY | $3.52B | 2.0% | -6% shares |
| Comcast Corp. | CMCSA | $3.48B | 2.0% | +19% shares |
| FedEx Corp. | FDX | $3.37B | 1.9% | unchanged |
| Microsoft Corp. | MSFT | $3.33B | 1.9% | unchanged |
| Amazon.com, Inc. | AMZN | $3.15B | 1.8% | -4% shares |
| GSK PLC | GSK | $3.05B | 1.7% | +15% shares |
| The Cigna Group | CI | $2.92B | 1.7% | unchanged |
| Capital One Financial Corp. | COF | $2.92B | 1.7% | -6% shares |
| Humana, Inc. | HUM | $2.85B | 1.6% | +6% shares |
| GE Aerospace | GE | $2.80B | 1.6% | unchanged |
| Alphabet, Inc. | GOOG | $2.66B | 1.5% | -6% shares |
| International Flavors & Fragrances, Inc. | IFF | $2.62B | 1.5% | +7% shares |
| Fidelity National Information Services, Inc. | FIS | $2.60B | 1.5% | unchanged |
What changed since Q4 2024
Against the Q4 2024 filing, Dodge & Cox opened 4 new positions, added to 34, trimmed 59, left 117 unchanged and exited 4. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- Millicom International Cellular SA$263.40M
- VOO$828.0K
- Patria Investments, Ltd.$223.5K
- Chubb, Ltd.$218.0K
Exited
- OXY/WSwas $392.67M
- BHFwas $320.41M
- NOAHwas $314.3K
- USBwas $277.4K
Other quarters
Source: SEC Form 13F-HR, accession 0000950123-25-005225, 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.