Dodge & Cox 13F, Q3 2025
Dodge & Cox · quarter ending 30 September 2025 · filed 13 November 2025 · SEC CIK 200217
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 219 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| The Charles Schwab Corp. | SCHW | $7.93B | 4.3% | unchanged |
| Johnson Controls International PLC | $7.06B | 3.8% | -4% shares | |
| RTX Corp. | RTX | $6.71B | 3.6% | -4% shares |
| CVS Health Corp. | CVS | $5.52B | 3.0% | unchanged |
| Fiserv, Inc. | FISV | $4.98B | 2.7% | +30% shares |
| MetLife, Inc. | MET | $4.42B | 2.4% | unchanged |
| Microsoft Corp. | MSFT | $4.08B | 2.2% | -3% shares |
| FedEx Corp. | FDX | $3.83B | 2.1% | +12% shares |
| The Bank of New York Mellon Corp. | BNY | $3.80B | 2.0% | -7% shares |
| Occidental Petroleum Corp. | OXY | $3.77B | 2.0% | unchanged |
| Booking Holdings, Inc. | BKNG | $3.64B | 2.0% | -8% shares |
| Amazon.com, Inc. | AMZN | $3.58B | 1.9% | unchanged |
| Comcast Corp. | CMCSA | $3.54B | 1.9% | unchanged |
| TE Connectivity PLC | $3.52B | 1.9% | -6% shares | |
| Alphabet, Inc. | GOOG | $3.41B | 1.8% | unchanged |
| GSK PLC | GSK | $3.38B | 1.8% | unchanged |
| Gilead Sciences, Inc. | GILD | $3.34B | 1.8% | -2% shares |
| UnitedHealth Group, Inc. | UNH | $3.28B | 1.8% | +9% shares |
| Norfolk Southern Corp. | NSC | $3.27B | 1.8% | unchanged |
| Wells Fargo & Co. | WFC | $3.26B | 1.8% | -23% shares |
| Sanofi SA | SNY | $3.25B | 1.8% | -4% shares |
| Charter Communications, Inc. | CHTR | $3.25B | 1.8% | +6% shares |
| Humana, Inc. | HUM | $2.95B | 1.6% | unchanged |
| Meta Platforms, Inc. | META | $2.91B | 1.6% | -5% shares |
| Fidelity National Information Services, Inc. | FIS | $2.84B | 1.5% | +22% shares |
What changed since Q2 2025
Against the Q2 2025 filing, Dodge & Cox opened 6 new positions, added to 34, trimmed 66, left 113 unchanged and exited 6. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001193125-25-280187, 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.