SEC 13F Intelligence

Managers / Q4 2025 · view latest →

DODGE & COX

CIK 0000200217 · 555 CALIFORNIA STREET, 40TH FLOOR, SAN FRANCISCO, CA, 94104 · 4159811710

Reported Value
$185.3B
Q4 2025
Positions
222
Filings on Record
31
2019–present window
Filed
Feb 13, 2026
original filing

Summary

Dodge & Cox reported $185.3B in U.S.-listed holdings across 222 positions for Q4 2025.

Its largest position, SCHW, represents 4.1% of the portfolio.

Compared with Q3 2025, the fund opened 10 new positions and exited 7.

Portfolio Metrics

Turnover
+8.0%
vs prior filed quarter
Top-10 Concentration
+27.2%
share of reported value
Largest Position
+4.1%
The Charles Schwab
New / Exited
10 / 7
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $109.1BQ4 ’18Q1 ’19: $121.8BQ2 ’19: $123.6BQ3 ’19: $121.5BQ4 ’19: $130.6BQ4 ’19Q1 ’20: $92.4BQ2 ’20: $108.7BQ3 ’20: $109.3BQ4 ’20: $126.5BQ4 ’20Q1 ’21: $139.9BQ2 ’21: $152.9BQ3 ’21: $153.5BQ4 ’21: $161.5BQ4 ’21Q1 ’22: $164.6BQ2 ’22: $144.5BQ3 ’22: $132.0BQ4 ’22: $145.8BQ4 ’22Q1 ’23: $146.8BQ2 ’23: $149.9BQ3 ’23: $148.4BQ4 ’23: $157.6BQ4 ’23Q1 ’24: $172.4BQ2 ’24: $166.6BQ3 ’24: $176.8BQ4 ’24: $171.8BQ4 ’24Q1 ’25: $175.5BQ2 ’25: $178.0BQ3 ’25: $185.3BQ4 ’25: $185.3BQ4 ’25Q1 ’26: $182.0Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 77.0%Other: 11.9%ADR: 8.3%REIT: 2.5%NY Reg Shrs: 0.3%Other: 0.0%
  • Common Stock · 77.0% · $142.6B
  • Other · 11.9% · $22.0B
  • ADR · 8.3% · $15.4B
  • REIT · 2.5% · $4.7B
  • NY Reg Shrs · 0.3% · $544M
  • Other · 0.0% · $376,392

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BNBrookfield Corp.NEW+41.28M41.28M+$1.9B$1.9B
TRUTransUnionNEW+9.84M9.84M+$844M$844M
PDDPDD Holdings, Inc.NEW+4.44M4.44M+$503M$503M
AJGArthur J Gallagher & Co.NEW+880.6K880.6K+$228M$228M
FCNCAFirst Citizens BancShares, Inc.NEW+31.6K31.6K+$68M$68M
Karooooo, Ltd.NEW+24.4K24.4K+$1M$1M
ATATAtour Lifestyle Holdings, Ltd.NEW+28.2K28.2K+$1M$1M
QQnity Electronics, Inc.NEW+7.5K7.5K+$612,579$612,579

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SCHWThe Charles Schwab Corp.history →COM4.13%$7.6B76.51M
2GOOGAlphabet, Inc.CAP STK CL C · CAP STK CL A4.01%$7.4B23.71M
3Johnson Controls International PLCSHS3.90%$7.2B60.38M
4RTXRTX Corp.history →COM3.72%$6.9B37.57M
5CVSCVS Health Corp.history →COM2.68%$5.0B62.51M
6FDXFedEx Corp.history →COM2.43%$4.5B15.58M
7METMetLife, Inc.history →COM2.23%$4.1B52.25M
8BKNGBooking Holdings, Inc.history →COM2.12%$3.9B732.1K
9MSFTMicrosoft Corp.history →COM1.94%$3.6B7.44M
10REGNRegeneron Pharmaceuticals, Inc.history →COM1.92%$3.5B4.60M
11AMZNAmazon.com, Inc.history →COM1.90%$3.5B15.23M
12TE Connectivity PLCORD SHS1.83%$3.4B14.87M
13CMCSAComcast Corp.history →CL A1.82%$3.4B112.97M
14GSKGSK PLChistory →SPONSORED ADR1.81%$3.4B68.52M
15FISVFiserv, Inc.history →COM1.79%$3.3B49.47M
16METAMeta Platforms, Inc.history →CL A1.79%$3.3B5.02M
17OXYOccidental Petroleum Corp.history →COM1.76%$3.3B79.47M
18FISFidelity National Information Services, Inc.history →COM1.76%$3.3B49.11M
19GILDGilead Sciences, Inc.history →COM1.74%$3.2B26.28M
20CIThe Cigna Grouphistory →COM1.65%$3.1B11.14M
21CHTRCharter Communications, Inc.history →CL A1.65%$3.0B14.61M
22UNHUnitedHealth Group, Inc.history →COM1.63%$3.0B9.17M
23WFCWells Fargo & Co.history →COM1.63%$3.0B32.31M
24BNYThe Bank of New York Mellon Corp.history →COM1.62%$3.0B25.81M
25HUMHumana, Inc.history →COM1.56%$2.9B11.29M
26NSCNorfolk Southern Corp.history →COM1.50%$2.8B9.62M
27Aon PLCSHS CL A1.50%$2.8B7.85M
28SNYSanofi SAhistory →SPONSORED ADR1.48%$2.7B56.49M
29GEHCGE HealthCare Technologies, Inc.history →COMMON STOCK1.38%$2.6B31.21M
30IFFInternational Flavors & Fragrances, Inc.history →COM1.32%$2.5B36.40M
31FTVFortive Corp.history →COM1.32%$2.4B44.16M
32SBACSBA Communications Corp.history →CL A1.25%$2.3B12.00M
33APDAir Products & Chemicals, Inc.history →COM1.23%$2.3B9.24M
34Willis Towers Watson PLCSHS1.23%$2.3B6.93M
35COFCapital One Financial Corp.history →COM1.20%$2.2B9.16M
36BUDAnheuser-Busch InBev SA/NVhistory →SPONSORED ADR1.14%$2.1B33.11M
37ZBHZimmer Biomet Holdings, Inc.history →COM1.14%$2.1B23.51M
38BNBrookfield Corp.history →CL A LTD VT SH1.02%$1.9B41.28M
39BKRBaker Hughes Co.history →CL A1.00%$1.9B40.76M
40Sun Communities, Inc.COM0.97%$1.8B14.49M
41ELANElanco Animal Health, Inc.history →COM0.97%$1.8B79.08M
42GE AerospaceCOM NEW0.86%$1.6B5.19M
43UBS Group AGSHS0.84%$1.6B33.67M
44HLNHaleon PLChistory →SPON ADS0.83%$1.5B151.76M
45GSThe Goldman Sachs Group, Inc.history →COM0.81%$1.5B1.71M
46BABAAlibaba Group Holding, Ltd.history →SPONSORED ADS0.79%$1.5B10.02M
47LPLALPL Financial Holdings, Inc.history →COM0.76%$1.4B3.95M
48AVTRAvantor, Inc.history →COM0.72%$1.3B117.07M
49INCYIncyte Corp.history →COM0.71%$1.3B13.26M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$182.0B222May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$185.3B222Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$185.3B219Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$178.0B219Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$175.5B214May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$171.8B214Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$176.8B205Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$166.6B202Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$172.4B199May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$157.6B197Feb 22, 2024RESTATEMENTchanges · EDGAR ↗
Q3 2023$148.4B192Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$149.9B191Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$146.8B203May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$145.8B188Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$132.0B191Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$144.5B211Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$164.6B197May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$161.5B197Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$153.5B193Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$152.9B190Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$139.9B186May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$126.5B182Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$109.3B183Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$108.7B192Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$92.4B177May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$130.6B184Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$121.5B181Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$123.6B180Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$121.8B178May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$109.1B181Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.