Dodge & Cox

Name: Dodge & Cox 13F holdings, Q2 2025
Creator: Dodge & Cox
Published: 2025-08-13

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Dodge & Cox reported 219 stock positions worth $178.0 billion. Its top holding was Schwab (charles) (SCHW) at 4.3% of the portfolio, followed by Johnson Controls Internation (JCI, 4.0%) and RTX (RTX, 3.4%). Compared with Q1 2025, it opened 7 new positions, sold out of 3, added to 61 and reduced 109. The biggest buy was Meta Platforms Class A (META, shares +18%) and the biggest sale Fiserv (FISV, shares −3%).

Most Recent 13F: Q2 2026
Location: San Francisco, CA
CIK: 0000200217
Portfolio Value: $178.0B (Q2 2025)
SEC Filing: 0000950123-25-007843 ↗ filed Aug 13, 2025

Holdings Value

Holdings 219 stocks · $178.0B


SCHW Schwab (charles) Corp.	4.32%	84,357,885	$7.7B	Reduce -5.0%
JCI Johnson Controls Internation	3.97%	66,922,767	$7.1B	Reduce -5.5%
RTX RTX Corp.	3.43%	41,753,934	$6.1B	Reduce -1.4%
FISV Fiserv Inc.	2.88%	29,719,536	$5.1B	Reduce -2.9%
CVS CVS Health Corp.	2.84%	73,288,766	$5.1B	Reduce -0.2%
CHTR Charter Communications Inc. Class A	2.56%	11,126,486	$4.5B	Reduce -3.3%
MET Metlife Inc.	2.40%	53,181,881	$4.3B	Reduce -1.4%
BKNG Booking Holdings Inc.	2.38%	730,473	$4.2B	Reduce -5.9%
WFC Wells Fargo & Co.	2.28%	50,745,861	$4.1B	Reduce -11.9%
MSFT Microsoft Corp.	2.28%	8,142,260	$4.1B	Reduce -8.3%
CMCSA Comcast Corp. Class A	2.23%	111,272,320	$4.0B	Add +18.1%
AMZN Amazon.com Inc.	2.05%	16,592,150	$3.6B	Add +0.4%
SNY Sanofi-ADR	1.95%	71,718,315	$3.5B	Reduce -2.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	1.93%	37,619,374	$3.4B	Reduce -10.4%
GILD Gilead Sciences Inc.	1.92%	30,818,322	$3.4B	Reduce -5.7%
OXY Occidental Petroleum Corp.	1.89%	80,254,372	$3.4B	Reduce -0.7%
FDX FedEx Corp.	1.85%	14,482,494	$3.3B	Add +4.7%
META Meta Platforms Inc. Class A	1.73%	4,163,253	$3.1B	Add +18.1%
GSK GSK PLC-Spon ADR	1.70%	78,757,869	$3.0B	Add +0.1%
CI The Cigna Group	1.66%	8,950,610	$3.0B	Add +0.7%
TEL Te Connectivity PLC	1.61%	17,039,803	$2.9B	Add +6.3%
FIS Fidelity National Info Serv	1.61%	35,274,497	$2.9B	Add +1.3%
NSC Norfolk Southern Corp.	1.56%	10,859,121	$2.8B	Add +1.8%
HUM Humana Inc.	1.56%	11,352,920	$2.8B	Add +5.6%
COF Capital One Financial Corp.	1.54%	12,856,456	$2.7B	Reduce -21.0%
UNH Unitedhealth Group Inc.	1.53%	8,750,560	$2.7B	Add +117.7%
BUD Anheuser-Busch Inbev-SPN ADR	1.49%	38,477,542	$2.6B	Reduce -6.4%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA	1.45%	35,047,387	$2.6B	Add +3.8%
GOOG Alphabet Inc. Class C	1.41%	14,179,423	$2.5B	Reduce -16.8%
APD Air Products & Chemicals Inc.	1.40%	8,821,400	$2.5B	Add +0.7%
GS Goldman Sachs Group Inc.	1.31%	3,306,574	$2.3B	Reduce -1.3%
GE General Electric filed as GE AEROSPACE	1.31%	9,065,811	$2.3B	Reduce -35.2%
SBAC SBA Communications Corp.	1.14%	8,608,494	$2.0B	Add +1.4%
ZBH Zimmer Biomet Holdings Inc.	1.13%	22,097,463	$2.0B	Add +12.9%
REGN Regeneron Pharmaceuticals	1.13%	3,826,283	$2.0B	Add +64.6%
GOOGL Alphabet Inc. Class A	1.12%	11,275,218	$2.0B	Reduce -2.8%
SUI Sun Communities Inc. filed as SUN CMNTYS INC	1.01%	14,198,760	$1.8B	Add +4.0%
GEHC GE Healthcare Technology	0.98%	23,567,950	$1.7B	Add +42.1%
FTV Fortive Corp.	0.97%	33,173,605	$1.7B	Add +51.5%
BKR Baker Hughes Co.	0.96%	44,582,813	$1.7B	Reduce -0.2%
HLN Haleon PLC-ADR	0.91%	155,471,999	$1.6B	Reduce -8.1%
AVTR Avantor Inc.	0.89%	117,433,484	$1.6B	Add +17.1%
BAX Baxter International Inc.	0.89%	52,121,620	$1.6B	Add +1.3%
UBS UBS Group AG-Reg	0.87%	45,635,942	$1.5B	Reduce -37.1%
CPNG Coupang Inc.	0.78%	46,614,520	$1.4B	Add +14.3%
D Dominion Energy Inc.	0.73%	22,925,248	$1.3B	Reduce -1.6%
NVS Novartis AG-Sponsored ADR	0.72%	10,647,629	$1.3B	Reduce -9.9%
CTSH Cognizant Tech Solutions-A	0.71%	16,267,302	$1.3B	Reduce -11.0%
BABA Alibaba Group Holding-SP ADR	0.70%	10,964,270	$1.2B	Reduce -3.1%
ELAN Elanco Animal Health Inc.	0.67%	82,895,232	$1.2B	Reduce -0.0%
BAP Credicorp Ltd.	0.65%	5,147,380	$1.2B	Reduce -3.1%
ALNY Alnylam Pharmaceuticals Inc.	0.59%	3,197,096	$1.0B	Reduce -4.6%
SU Suncor Energy Inc.	0.58%	27,401,654	$1.0B	Reduce -3.4%
LPLA LPL Financial Holdings Inc.	0.57%	2,701,709	$1.0B	Add +77.3%
COP Conocophillips	0.57%	11,235,453	$1.0B	Add +0.1%
INCY Incyte Corp.	0.56%	14,595,181	$993.9M	Reduce -1.8%
AEP American Electric Power	0.56%	9,572,403	$993.2M	Reduce -11.5%
LYB Lyondellbasell Indu Class A	0.55%	16,969,997	$981.9M	Add +0.4%
TMUS T-Mobile US Inc.	0.55%	4,100,279	$976.9M	Reduce -29.7%
CARR Carrier Global Corp.	0.53%	12,776,049	$935.1M	Reduce -10.6%
HPQ HP Inc.	0.48%	34,943,498	$854.7M	Add +4.6%
CE Celanese Corp.	0.48%	15,324,667	$847.9M	Reduce -0.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.47%	17,860,502	$845.2M	Reduce -15.0%
BMRN Biomarin Pharmaceutical Inc.	0.47%	15,108,310	$830.5M	Add +1.0%
STT State Street Corp.	0.44%	7,412,414	$788.2M	Add +1.1%
FOXA Fox Corp. Class A	0.44%	14,017,947	$785.6M	Reduce -28.6%
TDY Teledyne Technologies Inc.	0.43%	1,497,740	$767.3M	New
NBIX Neurocrine Biosciences Inc.	0.39%	5,566,814	$699.7M	Add +0.6%
XP XP Inc. Class A	0.39%	34,308,445	$693.0M	Reduce -19.4%
TAP Molson Coors Beverage Co. Class B	0.39%	14,396,195	$692.3M	Add +2.3%
MDT Medtronic PLC	0.38%	7,740,383	$674.7M	Add +0.4%
CX Cemex Sab-Spons ADR Part Cer	0.37%	95,023,835	$658.5M	Add +35.1%
AEG Aegon Ltd.-NY Reg SHR	0.36%	88,737,090	$642.5M	Reduce -24.5%
GLPI Gaming and Leisure Propertie	0.36%	13,618,357	$635.7M	Add +0.8%
LIN Linde PLC	0.35%	1,329,590	$623.8M	No change
AMRZ Amrize Ltd.	0.35%	12,470,706	$622.1M	New
JD Jd.com Inc.-ADR	0.34%	18,705,949	$610.6M	Add +3.6%
NTR Nutrien Ltd.	0.33%	10,076,659	$586.9M	Reduce -19.1%
RAL Ralliant Corp.	0.29%	10,797,506	$523.6M	Add +48.1%
VFC VF Corp.	0.27%	40,954,100	$481.2M	Reduce -0.0%
TRP TC Energy Corp.	0.26%	9,645,800	$470.6M	Reduce -8.0%
BIDU Baidu Inc. - Spon ADR	0.26%	5,427,715	$465.5M	Reduce -0.2%
MCHP Microchip Technology Inc.	0.25%	6,339,800	$446.1M	Add +958.5%
WTW Willis Towers Watson PLC	0.22%	1,278,423	$391.8M	New
BMY Bristol-Myers Squibb Co.	0.22%	8,436,759	$390.5M	Reduce -35.3%
NWSA News Corp. Class A	0.22%	13,016,220	$386.8M	Reduce -6.0%
YUMC Yum China Holdings Inc.	0.21%	8,516,462	$380.8M	Add +0.0%
FOX Fox Corp. Class B	0.21%	7,308,816	$377.4M	Reduce -27.6%
ECHO Echostar Corp. Class A	0.21%	13,398,270	$371.1M	Reduce -0.1%
NTES Netease Inc.-ADR	0.21%	2,745,776	$369.5M	Reduce -2.1%
ADM Archer-Daniels-Midland Co.	0.19%	6,549,624	$345.7M	New
TECK Teck Resources Ltd.-CLS B	0.19%	8,467,540	$341.9M	Reduce -0.2%
TIGO Millicom Intl Cellular S.A.	0.19%	8,836,132	$331.1M	Add +1.5%
HDB HDFC Bank Ltd.-ADR	0.13%	2,982,400	$228.7M	Reduce -7.7%
FLUT Flutter Entertainment PLC-Di	0.10%	628,878	$179.7M	No change
COHR Coherent Corp.	0.09%	1,731,595	$154.5M	Reduce -73.1%
TV Grupo Televisa SA-Spon ADR	0.08%	64,208,690	$140.6M	Reduce -0.0%
SNREY Sunrise Communicat Class A	0.07%	2,289,925	$129.5M	No change
ITUB Itau Unibanco H-Spon PRF ADR	0.07%	17,675,815	$120.0M	Add +1.0%
GAP The Gap Inc.	0.07%	5,439,326	$118.6M	Reduce -81.1%

Show all 219 holdings

Portfolio Sells Q1 2025 → Q2 2025


FISV Fiserv Inc.	Reduce -2.9%	2.88%	−0.97
WMB Williams Cos Inc.	Reduce -95.7%	0.04%	−0.85
CSCO Cisco Systems Inc.	Reduce -97.1%	0.02%	−0.74
UBS UBS Group AG-Reg	Reduce -37.1%	0.87%	−0.40
OXY Occidental Petroleum Corp.	Reduce -0.7%	1.89%	−0.38
SNY Sanofi-ADR	Reduce -2.0%	1.95%	−0.37
TMUS T-Mobile US Inc.	Reduce -29.7%	0.55%	−0.34
HMC Honda Motor Co. Ltd.-Spons ADR	Reduce -99.6%	0.00%	−0.32
GE General Electric	Reduce -35.2%	1.31%	−0.28
GAP The Gap Inc.	Reduce -81.1%	0.07%	−0.27
BMY Bristol-Myers Squibb Co.	Reduce -35.3%	0.22%	−0.23
FOXA Fox Corp. Class A	Reduce -28.6%	0.44%	−0.19
GILD Gilead Sciences Inc.	Reduce -5.7%	1.92%	−0.17
BKR Baker Hughes Co.	Reduce -0.2%	0.96%	−0.16
BABA Alibaba Group Holding-SP ADR	Reduce -3.1%	0.70%	−0.15
COHR Coherent Corp.	Reduce -73.1%	0.09%	−0.15
COF Capital One Financial Corp.	Reduce -21.0%	1.54%	−0.13
AEP American Electric Power	Reduce -11.5%	0.56%	−0.12
GOOG Alphabet Inc. Class C	Reduce -16.8%	1.41%	−0.10
VFC VF Corp.	Reduce -0.0%	0.27%	−0.09
FOX Fox Corp. Class B	Reduce -27.6%	0.21%	−0.09
HLN Haleon PLC-ADR	Reduce -8.1%	0.91%	−0.09
CTSH Cognizant Tech Solutions-A	Reduce -11.0%	0.71%	−0.08
BNY Bank of New York Mellon Corp.	Reduce -10.4%	1.93%	−0.08
AEG Aegon Ltd.-NY Reg SHR	Reduce -24.5%	0.36%	−0.08
WFC Wells Fargo & Co.	Reduce -11.9%	2.28%	−0.07
MET Metlife Inc.	Reduce -1.4%	2.40%	−0.06
SU Suncor Energy Inc.	Reduce -3.4%	0.58%	−0.05
NVS Novartis AG-Sponsored ADR	Reduce -9.9%	0.72%	−0.03
BAC Bank of America Corp.	Reduce -15.0%	0.47%	−0.02
BIDU Baidu Inc. - Spon ADR	Reduce -0.2%	0.26%	−0.02
NTR Nutrien Ltd.	Reduce -19.1%	0.33%	−0.02
CE Celanese Corp.	Reduce -0.4%	0.48%	−0.02
TRP TC Energy Corp.	Reduce -8.0%	0.26%	−0.02
D Dominion Energy Inc.	Reduce -1.6%	0.73%	−0.02
SLB SLB Ltd.	Reduce -6.8%	0.01%	−0.00
CVX Chevron Corp.	Reduce -0.5%	0.01%	−0.00
IWD iShares Russell 1000 Value E	Sold out	0.00%	−0.00
LLY Eli Lilly & Co.	Reduce -0.3%	0.02%	−0.00
TMO Thermo Fisher Scientific Inc.	Reduce -0.6%	0.01%	−0.00
UNP Union Pacific Corp.	Reduce -0.2%	0.04%	−0.00
HES Hess Corp.	Reduce -2.9%	0.00%	−0.00
PG The Procter & Gamble Co.	Reduce -0.1%	0.01%	−0.00
TGT Target Corp.	Reduce -3.3%	0.01%	−0.00
XOM Exxon Mobil Corp.	Reduce -0.3%	0.00%	−0.00
HAL Halliburton Co.	Reduce -29.7%	0.00%	−0.00
TRV The Travelers Cos Inc.	Reduce -2.7%	0.02%	−0.00
DEO Diageo PLC-Sponsored ADR	Reduce -15.2%	0.00%	−0.00
CIB Grupo Cibest SA-ADR	Reduce -42.5%	0.00%	−0.00
JNJ Johnson & Johnson	Reduce -0.7%	0.00%	−0.00

Portfolio Buys Q1 2025 → Q2 2025


META Meta Platforms Inc. Class A	Add +18.1%	1.73%	+0.57
TDY Teledyne Technologies Inc.	New	0.43%	+0.43
AMRZ Amrize Ltd.	New	0.35%	+0.35
UNH Unitedhealth Group Inc.	Add +117.7%	1.53%	+0.33
TEL Te Connectivity PLC	Add +6.3%	1.61%	+0.32
REGN Regeneron Pharmaceuticals	Add +64.6%	1.13%	+0.29
LPLA LPL Financial Holdings Inc.	Add +77.3%	0.57%	+0.29
CPNG Coupang Inc.	Add +14.3%	0.78%	+0.27
AMZN Amazon.com Inc.	Add +0.4%	2.05%	+0.25
CMCSA Comcast Corp. Class A	Add +18.1%	2.23%	+0.25
MCHP Microchip Technology Inc.	Add +958.5%	0.25%	+0.23
WTW Willis Towers Watson PLC	New	0.22%	+0.22
GEHC GE Healthcare Technology	Add +42.1%	0.98%	+0.22
ADM Archer-Daniels-Midland Co.	New	0.19%	+0.19
CX Cemex Sab-Spons ADR Part Cer	Add +35.1%	0.37%	+0.15
FIS Fidelity National Info Serv	Add +1.3%	1.61%	+0.13
NSC Norfolk Southern Corp.	Add +1.8%	1.56%	+0.12
RAL Ralliant Corp.	Add +48.1%	0.29%	+0.09
SBAC SBA Communications Corp.	Add +1.4%	1.14%	+0.07
STT State Street Corp.	Add +1.1%	0.44%	+0.07
FTV Fortive Corp.	Add +51.5%	0.97%	+0.06
BNTX Biontech SE-ADR	New	0.05%	+0.05
NBIX Neurocrine Biosciences Inc.	Add +0.6%	0.39%	+0.04
TIGO Millicom Intl Cellular S.A.	Add +1.5%	0.19%	+0.04
ITUB Itau Unibanco H-Spon PRF ADR	Add +1.0%	0.07%	+0.01
SUI Sun Communities Inc.	Add +4.0%	1.01%	+0.01
NESR National Energy Services Reu	Add +201.6%	0.01%	+0.00
TSM Taiwan Semiconductor-SP ADR	Add +0.3%	0.01%	+0.00
IBM Intl Business Machines Corp.	Add +41.8%	0.01%	+0.00
AVGO Broadcom Inc.	Add +2.5%	0.00%	+0.00
DELL Dell Technologies -C	Add +1.1%	0.00%	+0.00
ACMR Acm Research Inc. Class A	Add +28.5%	0.00%	+0.00
LVS Las Vegas Sands Corp.	Add +19.0%	0.00%	+0.00
LAUR Laureate Education Inc.	New	0.00%	+0.00
JBS JBS NV-A	New	0.00%	+0.00
ELV Elevance Health Inc.	Add +8.3%	0.00%	0.00
AAPL Apple Inc.	Add +11.4%	0.00%	0.00
HD Home Depot Inc.	Add +1.5%	0.00%	0.00
KSPI JSC Kaspi.kz ADR	Add +21.8%	0.00%	0.00
LOMA Loma Negra Cia Ind-Spon ADR	Add +0.7%	0.00%	0.00
PBR Petroleo Brasileiro-Spon ADR	Add +7.0%	0.00%	0.00
TCOM Trip.com Group Ltd.-ADR	Add +11.9%	0.00%	0.00
VIPS Vipshop Holdings Ltd. - ADR	Add +4.5%	0.00%	0.00
AFYA Afya Ltd. Class A	Add +12.8%	0.00%	0.00
ARCO Arcos Dorados Holdings Inc. Class A	Add +3.7%	0.00%	0.00
PAX Patria Investments Ltd. Class A	Add +7.1%	0.00%	0.00
MSI Motorola Solutions Inc.	Add +1.1%	0.00%	−0.00
AMGN Amgen Inc.	Add +1.1%	0.00%	−0.00
AZN Astrazeneca PLC-Spons ADR	Add +1.0%	0.01%	−0.00
MRK Merck & Co. Inc.	Add +0.1%	0.01%	−0.00

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