Dodge & Cox
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Dodge & Cox reported 213 stock positions worth $171.4 billion. Its top holding was Schwab (charles) (SCHW) at 3.9% of the portfolio, followed by Fiserv (FISV, 3.9%) and Johnson Controls Internation (JCI, 3.7%). Compared with Q3 2024, it opened 11 new positions, sold out of 2, added to 45 and reduced 100. The biggest buy was SBA Communications (SBAC, shares +352%) and the biggest sale Truist Financial (TFC, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- San Francisco, CA
- CIK
- 0000200217
- Portfolio Value
- $171.4B (Q4 2024)
- SEC Filing
- 0000950123-25-002054 ↗ filed Feb 13, 2025
Holdings Value
Holdings 213 stocks · $171.4B
| SCHW Schwab (charles) Corp. | 3.86% | 89,369,528 | $6.6B | Reduce -0.2% |
| FISV Fiserv Inc. | 3.86% | 32,192,395 | $6.6B | Reduce -1.6% |
| JCI Johnson Controls Internation | 3.70% | 80,369,871 | $6.3B | Reduce -5.8% |
| RTX RTX Corp. | 3.00% | 44,491,403 | $5.1B | Add +0.2% |
| WFC Wells Fargo & Co. | 2.89% | 70,452,850 | $4.9B | Reduce -19.0% |
| MET Metlife Inc. | 2.59% | 54,154,554 | $4.4B | Reduce -0.9% |
| CHTR Charter Communications Inc. Class A | 2.31% | 11,547,176 | $4.0B | Reduce -0.8% |
| FDX FedEx Corp. | 2.28% | 13,889,624 | $3.9B | Add +5.6% |
| BKNG Booking Holdings Inc. | 2.27% | 783,572 | $3.9B | Reduce -0.7% |
| MSFT Microsoft Corp. | 2.23% | 9,061,091 | $3.8B | Reduce -0.4% |
| AMZN Amazon.com Inc. | 2.20% | 17,172,957 | $3.8B | Reduce -0.6% |
| SNY Sanofi-ADR | 2.12% | 75,220,588 | $3.6B | Reduce -1.4% |
| OXY Occidental Petroleum Corp. | 2.02% | 70,002,502 | $3.5B | Reduce -10.3% |
| GOOG Alphabet Inc. Class C | 2.01% | 18,131,757 | $3.5B | Reduce -27.2% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 2.00% | 44,699,198 | $3.4B | Reduce -7.9% |
| CVS CVS Health Corp. | 1.84% | 70,105,899 | $3.1B | Add +11.2% |
| COF Capital One Financial Corp. | 1.80% | 17,284,997 | $3.1B | Reduce -7.4% |
| GILD Gilead Sciences Inc. | 1.78% | 32,947,717 | $3.0B | Reduce -0.3% |
| CMCSA Comcast Corp. Class A | 1.73% | 79,102,667 | $3.0B | Add +6.8% |
| FIS Fidelity National Info Serv | 1.62% | 34,327,527 | $2.8B | Reduce -16.4% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 1.55% | 31,437,763 | $2.7B | Add +11.9% |
| HUM Humana Inc. | 1.51% | 10,198,040 | $2.6B | Add +106.7% |
| NSC Norfolk Southern Corp. | 1.46% | 10,689,209 | $2.5B | Reduce -1.6% |
| CI The Cigna Group | 1.41% | 8,772,608 | $2.4B | Reduce -0.2% |
| GE General Electric filed as GE AEROSPACE | 1.38% | 14,161,304 | $2.4B | Reduce -0.1% |
| GSK GSK PLC-Spon ADR | 1.35% | 68,440,912 | $2.3B | Add +0.5% |
| TEL Te Connectivity PLC | 1.33% | 15,965,609 | $2.3B | Reduce -0.1% |
| GOOGL Alphabet Inc. Class A | 1.33% | 12,005,162 | $2.3B | Add +0.1% |
| UBS UBS Group AG-Reg | 1.31% | 73,497,042 | $2.2B | Add +0.2% |
| META Meta Platforms Inc. Class A | 1.30% | 3,810,837 | $2.2B | Reduce -0.1% |
| GS Goldman Sachs Group Inc. | 1.29% | 3,870,536 | $2.2B | Reduce -28.1% |
| AVTR Avantor Inc. | 1.22% | 99,145,770 | $2.1B | Add +44.9% |
| TMUS T-Mobile US Inc. | 1.21% | 9,382,681 | $2.1B | Reduce -2.0% |
| UNH Unitedhealth Group Inc. | 1.21% | 4,093,228 | $2.1B | Add +4.9% |
| ZBH Zimmer Biomet Holdings Inc. | 1.18% | 19,118,436 | $2.0B | Add +12.0% |
| BUD Anheuser-Busch Inbev-SPN ADR | 1.17% | 39,996,830 | $2.0B | Add +27.7% |
| WMB Williams Cos Inc. | 1.15% | 36,348,514 | $2.0B | Reduce -2.5% |
| APD Air Products & Chemicals Inc. | 1.13% | 6,663,154 | $1.9B | Add +1.0% |
| BKR Baker Hughes Co. | 1.09% | 45,658,130 | $1.9B | Reduce -0.4% |
| HLN Haleon PLC-ADR | 0.99% | 178,744,926 | $1.7B | Reduce -0.2% |
| REGN Regeneron Pharmaceuticals | 0.96% | 2,321,316 | $1.7B | Add +0.4% |
| SBAC SBA Communications Corp. | 0.87% | 7,346,255 | $1.5B | Add +352.5% |
| BAX Baxter International Inc. | 0.86% | 50,377,294 | $1.5B | Add +13.0% |
| CTSH Cognizant Tech Solutions-A | 0.82% | 18,330,397 | $1.4B | Reduce -0.1% |
| CSCO Cisco Systems Inc. | 0.82% | 23,738,670 | $1.4B | Reduce -0.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.80% | 31,060,084 | $1.4B | Reduce -41.6% |
| GEHC GE Healthcare Technology | 0.76% | 16,675,508 | $1.3B | Add +0.1% |
| LYB Lyondellbasell Indu Class A | 0.73% | 16,965,832 | $1.3B | Add +5.3% |
| BABA Alibaba Group Holding-SP ADR | 0.72% | 14,469,770 | $1.2B | Reduce -20.0% |
| D Dominion Energy Inc. | 0.71% | 22,623,133 | $1.2B | Reduce -0.3% |
| NVS Novartis AG-Sponsored ADR | 0.69% | 12,214,665 | $1.2B | Reduce -0.1% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 0.69% | 9,606,018 | $1.2B | Add +61.1% |
| COP Conocophillips | 0.66% | 11,423,586 | $1.1B | Reduce -0.1% |
| HPQ HP Inc. | 0.64% | 33,745,905 | $1.1B | Reduce -0.2% |
| AEP American Electric Power | 0.62% | 11,575,220 | $1.1B | Reduce -0.1% |
| INCY Incyte Corp. | 0.60% | 14,919,633 | $1.0B | Reduce -2.3% |
| FOXA Fox Corp. Class A | 0.60% | 21,098,016 | $1.0B | Reduce -25.9% |
| SU Suncor Energy Inc. | 0.59% | 28,452,054 | $1.0B | Reduce -3.3% |
| ELAN Elanco Animal Health Inc. | 0.59% | 83,180,666 | $1.0B | Reduce -0.2% |
| BAP Credicorp Ltd. | 0.57% | 5,337,180 | $978.4M | Reduce -1.4% |
| CARR Carrier Global Corp. | 0.57% | 14,305,840 | $976.5M | Reduce -0.3% |
| COHR Coherent Corp. | 0.57% | 10,239,099 | $969.9M | Reduce -3.8% |
| BMRN Biomarin Pharmaceutical Inc. | 0.57% | 14,746,235 | $969.3M | Add +6.1% |
| CE Celanese Corp. | 0.55% | 13,618,062 | $942.5M | Add +100.3% |
| VFC VF Corp. | 0.53% | 42,447,650 | $910.9M | Reduce -0.1% |
| BMY Bristol-Myers Squibb Co. | 0.51% | 15,402,468 | $871.2M | Reduce -1.4% |
| TAP Molson Coors Beverage Co. Class B | 0.49% | 14,571,189 | $835.2M | Reduce -0.3% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.49% | 3,540,262 | $833.1M | Reduce -2.3% |
| STT State Street Corp. | 0.43% | 7,425,244 | $728.8M | Reduce -21.5% |
| AEG Aegon Ltd.-NY Reg SHR | 0.40% | 117,764,090 | $693.6M | Reduce -0.0% |
| GAP The Gap Inc. | 0.40% | 28,824,721 | $681.1M | Reduce -0.2% |
| GLPI Gaming and Leisure Propertie | 0.38% | 13,498,634 | $650.1M | Add +75.3% |
| HMC Honda Motor Co. Ltd.-Spons ADR | 0.37% | 22,074,900 | $630.2M | Reduce -0.0% |
| MDT Medtronic PLC | 0.36% | 7,661,125 | $612.0M | Add +13.3% |
| FTV Fortive Corp. | 0.34% | 7,779,907 | $583.5M | New |
| JD Jd.com Inc.-ADR | 0.34% | 16,723,441 | $579.8M | Reduce -25.6% |
| NTR Nutrien Ltd. | 0.33% | 12,523,259 | $560.4M | Add +0.3% |
| LIN Linde PLC | 0.32% | 1,329,590 | $556.7M | Add +0.2% |
| FOX Fox Corp. Class B | 0.30% | 11,341,200 | $518.7M | Add +0.1% |
| XP XP Inc. Class A | 0.30% | 43,153,245 | $511.4M | Add +23.8% |
| TRP TC Energy Corp. | 0.30% | 10,953,200 | $509.7M | No change |
| BIDU Baidu Inc. - Spon ADR | 0.29% | 5,916,215 | $498.8M | Add +0.4% |
| CPNG Coupang Inc. | 0.26% | 20,229,320 | $444.6M | Add +0.6% |
| NBIX Neurocrine Biosciences Inc. | 0.24% | 3,016,425 | $411.7M | Add +134.2% |
| YUMC Yum China Holdings Inc. | 0.24% | 8,512,162 | $410.0M | Reduce -20.3% |
| TECK Teck Resources Ltd.-CLS B | 0.20% | 8,558,940 | $346.9M | Reduce -7.8% |
| NWSA News Corp. Class A | 0.19% | 11,662,685 | $321.2M | Add +11.9% |
| BHF Brighthouse Financial Inc. | 0.19% | 6,669,575 | $320.4M | No change |
| ECHO Echostar Corp. Class A | 0.18% | 13,416,003 | $307.2M | Reduce -0.4% |
| CX Cemex Sab-Spons ADR Part Cer | 0.16% | 49,622,009 | $279.9M | Add +7200.6% |
| NTES Netease Inc.-ADR | 0.14% | 2,649,876 | $236.4M | Add +0.6% |
| HDB HDFC Bank Ltd.-ADR | 0.12% | 3,271,600 | $208.9M | Add +12.2% |
| FLUT Flutter Entertainment PLC-Di | 0.09% | 628,878 | $162.5M | Add +0.7% |
| LPLA LPL Financial Holdings Inc. | 0.09% | 470,109 | $153.5M | Add +2922.0% |
| AXP American Express Co. | 0.07% | 399,340 | $118.5M | Reduce -2.8% |
| TV Grupo Televisa SA-Spon ADR | 0.06% | 64,212,690 | $107.9M | No change |
| SNREY Sunrise Communicat Class A | 0.06% | 2,289,925 | $98.6M | New |
| FMS Fresenius Medical Care-ADR | 0.06% | 4,173,510 | $94.5M | No change |
| LBTYK Liberty Global Ltd. Class C | 0.05% | 6,682,068 | $87.8M | No change |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.05% | 16,621,005 | $82.4M | Add +6.8% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $392.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 14,252,820 | $392.7M | Reduce -0.0% |
Total filed on the 13F, all lines: $171.8B.
Portfolio Sells Q3 2024 → Q4 2024
| TFC Truist Financial Corp. | Reduce -99.8% | 0.00% | −0.62 |
| BAC Bank of America Corp. | Reduce -41.6% | 0.80% | −0.40 |
| SNY Sanofi-ADR | Reduce -1.4% | 2.12% | −0.38 |
| BABA Alibaba Group Holding-SP ADR | Reduce -20.0% | 0.72% | −0.37 |
| GOOG Alphabet Inc. Class C | Reduce -27.2% | 2.01% | −0.35 |
| FIS Fidelity National Info Serv | Reduce -16.4% | 1.62% | −0.33 |
| CI The Cigna Group | Reduce -0.2% | 1.41% | −0.31 |
| JNPR Juniper Networks Inc. | Reduce -98.6% | 0.00% | −0.29 |
| OXY Occidental Petroleum Corp. | Reduce -10.3% | 2.02% | −0.26 |
| GS Goldman Sachs Group Inc. | Reduce -28.1% | 1.29% | −0.22 |
| JD Jd.com Inc.-ADR | Reduce -25.6% | 0.34% | −0.17 |
| GE General Electric | Reduce -0.1% | 1.38% | −0.14 |
| ELAN Elanco Animal Health Inc. | Reduce -0.2% | 0.59% | −0.11 |
| NVS Novartis AG-Sponsored ADR | Reduce -0.1% | 0.69% | −0.10 |
| CARR Carrier Global Corp. | Reduce -0.3% | 0.57% | −0.09 |
| FOXA Fox Corp. Class A | Reduce -25.9% | 0.60% | −0.09 |
| HLN Haleon PLC-ADR | Reduce -0.2% | 0.99% | −0.08 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -2.3% | 0.49% | −0.08 |
| TECK Teck Resources Ltd.-CLS B | Reduce -7.8% | 0.20% | −0.07 |
| NSC Norfolk Southern Corp. | Reduce -1.6% | 1.46% | −0.07 |
| JCI Johnson Controls Internation | Reduce -5.8% | 3.70% | −0.06 |
| AEP American Electric Power | Reduce -0.1% | 0.62% | −0.05 |
| STT State Street Corp. | Reduce -21.5% | 0.43% | −0.05 |
| HPQ HP Inc. | Reduce -0.2% | 0.64% | −0.05 |
| TEL Te Connectivity PLC | Reduce -0.1% | 1.33% | −0.04 |
| YUMC Yum China Holdings Inc. | Reduce -20.3% | 0.24% | −0.03 |
| D Dominion Energy Inc. | Reduce -0.3% | 0.71% | −0.03 |
| HMC Honda Motor Co. Ltd.-Spons ADR | Reduce -0.0% | 0.37% | −0.03 |
| SU Suncor Energy Inc. | Reduce -3.3% | 0.59% | −0.02 |
| AEG Aegon Ltd.-NY Reg SHR | Reduce -0.0% | 0.40% | −0.02 |
| COP Conocophillips | Reduce -0.1% | 0.66% | −0.02 |
| ECHO Echostar Corp. Class A | Reduce -0.4% | 0.18% | −0.01 |
| MCHP Microchip Technology Inc. | Reduce -1.5% | 0.02% | −0.01 |
| LLY Eli Lilly & Co. | Reduce -0.7% | 0.02% | −0.00 |
| UNP Union Pacific Corp. | Reduce -1.4% | 0.04% | −0.00 |
| SLB SLB Ltd. | Reduce -3.9% | 0.01% | −0.00 |
| TMO Thermo Fisher Scientific Inc. | Reduce -2.4% | 0.01% | −0.00 |
| TGT Target Corp. | Reduce -0.9% | 0.01% | −0.00 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -3.6% | 0.01% | −0.00 |
| MRK Merck & Co. Inc. | Reduce -0.6% | 0.01% | −0.00 |
| ADBE Adobe Inc. | Reduce -1.3% | 0.01% | −0.00 |
| CAT Caterpillar Inc. | Reduce -0.7% | 0.01% | −0.00 |
| DELL Dell Technologies -C | Reduce -22.4% | 0.00% | −0.00 |
| HPE Hewlett Packard Enterprise | Reduce -29.3% | 0.00% | −0.00 |
| XOM Exxon Mobil Corp. | Reduce -1.5% | 0.00% | −0.00 |
| ADI Analog Devices Inc. | Reduce -2.0% | 0.00% | −0.00 |
| AVGO Broadcom Inc. | Reduce -33.6% | 0.00% | −0.00 |
| BEKE Ke Holdings Inc.-ADR | Sold out | 0.00% | −0.00 |
| APA Apa Corp. | Reduce -8.1% | 0.00% | −0.00 |
| DOW Dow Inc. | Reduce -0.6% | 0.00% | −0.00 |
Portfolio Buys Q3 2024 → Q4 2024
| SBAC SBA Communications Corp. | Add +352.5% | 0.87% | +0.65 |
| HUM Humana Inc. | Add +106.7% | 1.51% | +0.62 |
| FTV Fortive Corp. | New | 0.34% | +0.34 |
| FDX FedEx Corp. | Add +5.6% | 2.28% | +0.24 |
| SUI Sun Communities Inc. | Add +61.1% | 0.69% | +0.23 |
| AVTR Avantor Inc. | Add +44.9% | 1.22% | +0.22 |
| GOOGL Alphabet Inc. Class A | Add +0.1% | 1.33% | +0.20 |
| CX Cemex Sab-Spons ADR Part Cer | Add +7200.6% | 0.16% | +0.16 |
| NBIX Neurocrine Biosciences Inc. | Add +134.2% | 0.24% | +0.16 |
| GLPI Gaming and Leisure Propertie | Add +75.3% | 0.38% | +0.15 |
| ZBH Zimmer Biomet Holdings Inc. | Add +12.0% | 1.18% | +0.13 |
| LPLA LPL Financial Holdings Inc. | Add +2922.0% | 0.09% | +0.09 |
| SNREY Sunrise Communicat Class A | New | 0.06% | +0.06 |
| FOX Fox Corp. Class B | Add +0.1% | 0.30% | +0.05 |
| NWSA News Corp. Class A | Add +11.9% | 0.19% | +0.03 |
| CE Celanese Corp. | Add +100.3% | 0.55% | +0.03 |
| UBS UBS Group AG-Reg | Add +0.2% | 1.31% | +0.02 |
| HDB HDFC Bank Ltd.-ADR | Add +12.2% | 0.12% | +0.02 |
| APD Air Products & Chemicals Inc. | Add +1.0% | 1.13% | +0.01 |
| MDT Medtronic PLC | Add +13.3% | 0.36% | +0.01 |
| BMRN Biomarin Pharmaceutical Inc. | Add +6.1% | 0.57% | +0.01 |
| FLUT Flutter Entertainment PLC-Di | Add +0.7% | 0.09% | +0.01 |
| NESR National Energy Services Reu | New | 0.00% | +0.00 |
| IWD iShares Russell 1000 Value E | New | 0.00% | +0.00 |
| AMG Affiliated Managers Group | New | 0.00% | +0.00 |
| LYV Live Nation Entertainment Inc. | New | 0.00% | +0.00 |
| ARCO Arcos Dorados Holdings Inc. Class A | New | 0.00% | +0.00 |
| ASR Grupo Aeroportuario Sur-ADR | New | 0.00% | +0.00 |
| MGM MGM Resorts International | New | 0.00% | +0.00 |
| ABEV Ambev SA-ADR | New | 0.00% | +0.00 |
| GPRK Geopark Ltd. | Add +28.7% | 0.00% | +0.00 |
| LOMA Loma Negra Cia Ind-Spon ADR | Add +0.3% | 0.00% | +0.00 |
| ACMR Acm Research Inc. Class A | Add +24.6% | 0.00% | 0.00 |
| BANCOLOMBIA S.A.-SPONS ADR | Add +2.7% | 0.00% | 0.00 |
| CIG Cia Energetica DE-Spon ADR | New | 0.00% | 0.00 |
| KSPI JSC Kaspi.kz ADR | Add +16.3% | 0.00% | 0.00 |
| PBR Petroleo Brasileiro-Spon ADR | Add +4.8% | 0.00% | 0.00 |
| AFYA Afya Ltd. Class A | Add +7.1% | 0.00% | 0.00 |
| NTES Netease Inc.-ADR | Add +0.6% | 0.14% | −0.00 |
| BUD Anheuser-Busch Inbev-SPN ADR | Add +27.7% | 1.17% | −0.01 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +6.8% | 0.05% | −0.01 |
| NTR Nutrien Ltd. | Add +0.3% | 0.33% | −0.01 |
| CPNG Coupang Inc. | Add +0.6% | 0.26% | −0.02 |
| CMCSA Comcast Corp. Class A | Add +6.8% | 1.73% | −0.02 |
| LIN Linde PLC | Add +0.2% | 0.32% | −0.03 |
| RTX RTX Corp. | Add +0.2% | 3.00% | −0.05 |
| XP XP Inc. Class A | Add +23.8% | 0.30% | −0.06 |
| BIDU Baidu Inc. - Spon ADR | Add +0.4% | 0.29% | −0.06 |
| UNH Unitedhealth Group Inc. | Add +4.9% | 1.21% | −0.09 |
| BAX Baxter International Inc. | Add +13.0% | 0.86% | −0.10 |
Notes & Other Activity Q3 2024 → Q4 2024
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Reduce -0.0% | 14,252,820 | $392.7M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 222 | $191.0B | JCI, SCHW, RTX, CVS, MSFT |
| Q1 2026 | 222 | $182.0B | JCI, SCHW, RTX, OXY, MSFT |
| Q4 2025 | 222 | $185.3B | SCHW, JCI, RTX, CVS, FDX |
| Q3 2025 | 219 | $185.3B | SCHW, JCI, RTX, CVS, FISV |
| Q2 2025 | 219 | $178.0B | SCHW, JCI, RTX, FISV, CVS |
| Q1 2025 | 214 | $175.5B | SCHW, FISV, JCI, RTX, CVS |
| Q4 2024 | 213 | $171.4B | SCHW, FISV, JCI, RTX, WFC |
| Q3 2024 | 204 | $176.4B | JCI, FISV, SCHW, RTX, WFC |
| Q2 2024 | 201 | $166.0B | SCHW, JCI, WFC, GOOG, FISV |
| Q1 2024 | 198 | $171.8B | WFC, SCHW, FISV, JCI, OXY |