
	Dodge & Cox 13F
	Dodge & Cox

	Last update 2024-12-06	205 Stocks (4 new)
	Value $176.83 Bil	Turnover 2 %
	Countries: Top Holdings: JCI(3.75%)FI(3.32%)SCHW(3.28%)RTX(3.04%)WFC(2.78%) Portfolio Report

Dodge & Cox Profile

Dodge & Cox was founded in 1930 by Van Duyn Dodge and E. Morris Cox. The firm employs a team research approach in making investment decisions. The investment decisions are made by the Investment Policy Committees, and while the members of these committees may change over time, the firm aims to preserve the continuity of its investing philosophy, research and culture.

Dodge & Cox Investing Philosophy

Dodge & Cox believes that a well-tuned, group decision making process enhances individual thinking and moves the portfolio beyond dependence on any single person. The Dodge & Cox team is guided both in what they buy and what they sell by an ongoing search for superior relative value, steering clear of popular choices that come at a price they would rather not pay. Investing when valuations are low creates greater potential for capital appreciation. They look to be long-term owners of companies whose current valuations don't reflect their long-term earnings and cash-flow prospects.

Dodge & Cox Portfolio and Latest Trades

Ticker
Ticker
VMW
APD
HUM
CI
IFF
WFC
FIS
UBS
CVS
AVTR
GE
NSC
VMW
IFF
TFC
SLB
AEP
D
CHTR
ZBH
RTX
CVS
DELL
GOOG
HPE
CVS
COP
COF
JCI
JNPR
BAC
TFC
MCHP
BAX
TMUS
MCHP
OXY
GE
CHTR
SUI
OVV
GOOG
CSCO
META
COF
AXP
ZBH
VFC
BAX
PYPL
GOOG
MCHP
SCHW
META
TAP
NSC
HLN
UBS
AMZN
FIS
MSFT
FDX
GEV
OTIS
NSC
SNY
STT
MCHP
GS
CI
ELAN
NSC
OVV
BAX
UBS
BIDU
BUD
HPQ
NVS
GOOGL
BAC
GOOG
AMZN
WMB
NTES
BK
MSFT
HMC
SBAC
GOOGL
TECK
SU
JCI
BKR
COF
TECK
NVS
FOXA
DELL
TFC

Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
VMW	VMware Inc	2023-12-31	Sold Out	-2.21%	● 142.2 ($155.85) 178.88	$142.48	-8.58%	Sold Out	0	-19,732,814
APD	Air Products & Chemicals Inc	2024-09-30	Add	+1.11%	● 247.34 ($273.47) 300.36	$296.02	8.25%	Add 227423.93%	6,598,194	6,595,294
HUM	Humana Inc	2024-06-30	New Buy	+0.97%	● 302.09 ($337.63) 373.65	$255.52	-24.32%	New holding	4,308,536	4,308,536
CI	The Cigna Group	2024-06-30	Reduce	-0.90%	● 330.57 ($344.84) 364.08	$280.06	-18.79%	Reduce -32.56%	8,852,809	-4,275,082
IFF	International Flavors & Fragrances Inc	2023-12-31	New Buy	+0.79%	● 62.99 ($72.32) 82.08	$85.11	17.69%	New holding	15,440,725	15,440,725
WFC	Wells Fargo & Co	2024-06-30	Reduce	-0.77%	● 56.41 ($59.04) 62.34	$71.59	21.26%	Reduce -19.88%	92,277,487	-22,898,565
FIS	Fidelity National Information Services Inc	2022-12-31	Add	+0.76%	● 57.18 ($71.04) 84.9	$82.34	15.91%	Add 166.37%	26,220,615	16,376,810
UBS	UBS Group AG	2023-12-31	Reduce	-0.74%	● 23.36 ($26.3) 31.19	$30.55	16.16%	Reduce -32.56%	92,331,951	-44,571,466
CVS	CVS Health Corp	2024-06-30	Add	+0.73%	● 53.63 ($62.55) 79.56	$44.25	-29.26%	Add 50.4%	61,683,343	20,670,800
AVTR	Avantor Inc	2023-12-31	Add	+0.70%	● 17.15 ($20.49) 23.08	$21.36	4.25%	Add 360.4%	61,196,331	47,904,427
GE	General Electric Co	2023-06-30	Reduce	-0.66%	● 93.6 ($101.37) 109.85	$171.49	69.17%	Reduce -29.47%	24,391,081	-10,190,400
NSC	Norfolk Southern Corp	2023-06-30	Add	+0.65%	● 200.86 ($212.41) 226.76	$237.92	12.01%	Add 121199.69%	4,306,139	4,302,589
VMW	VMware Inc	2023-09-30	Reduce	-0.61%	● 141.4 ($160.17) 168.78	$142.48	-11.04%	Reduce -24.3%	19,732,814	-6,333,836
IFF	International Flavors & Fragrances Inc	2024-03-31	Add	+0.61%	● 73.21 ($80.3) 85.99	$85.11	5.99%	Add 79.58%	27,729,011	12,288,286
TFC	Truist Financial Corp	2024-09-30	Reduce	-0.60%	● 38.22 ($42.23) 44.94	$43.99	4.17%	Reduce -50.16%	25,750,060	-25,915,796
SLB	SLB	2022-12-31	Reduce	-0.59%	● 38.3 ($49.8) 54.82	$37.73	-24.24%	Reduce -84.55%	3,972,203	-21,733,270
AEP	American Electric Power Co Inc	2024-03-31	New Buy	+0.57%	● 75.94 ($81.29) 86.1	$92.37	13.63%	New holding	11,364,305	11,364,305
D	Dominion Energy Inc	2023-03-31	New Buy	+0.56%	● 52.22 ($58.52) 63.64	$53.77	-8.12%	New holding	14,825,633	14,825,633
CHTR	Charter Communications Inc	2024-03-31	Add	+0.53%	● 276.33 ($321.44) 391.51	$352.19	9.57%	Add 37.67%	11,563,786	3,163,944
ZBH	Zimmer Biomet Holdings Inc	2023-12-31	Add	+0.52%	● 102.72 ($111.58) 121.7	$107.30	-3.84%	Add 137.73%	11,474,535	6,647,810
RTX	RTX Corp	2023-12-31	Add	+0.52%	● 69.38 ($79.14) 84.17	$116.83	47.62%	Add 29.7%	42,189,300	9,659,760
CVS	CVS Health Corp	2023-09-30	Add	+0.50%	● 65.17 ($70.86) 76.41	$44.25	-37.55%	Add 66.76%	26,722,982	10,698,560
DELL	Dell Technologies Inc	2023-12-31	Reduce	-0.50%	● 64.51 ($70.68) 77.26	$118.94	68.28%	Reduce -97.78%	243,897	-10,730,269
GOOG	Alphabet Inc	2024-09-30	Reduce	-0.50%	● 149.54 ($169.25) 192.66	$197.57	16.73%	Reduce -15.39%	24,893,268	-4,528,217
HPE	Hewlett Packard Enterprise Co	2024-06-30	Reduce	-0.49%	● 16.44 ($18.43) 21.84	$21.89	18.77%	Reduce -98.46%	747,383	-47,746,489
CVS	CVS Health Corp	2024-03-31	Add	+0.49%	● 71.99 ($76.39) 81.42	$44.25	-42.07%	Add 34.85%	41,012,543	10,599,153
COP	ConocoPhillips	2022-12-31	Reduce	-0.47%	● 109.97 ($121.55) 134.94	$97.11	-20.11%	Reduce -29.42%	14,539,482	-6,060,740
COF	Capital One Financial Corp	2023-09-30	Reduce	-0.46%	● 95.49 ($106.9) 117.96	$182.12	70.36%	Reduce -18.18%	28,402,804	-6,311,611
JCI	Johnson Controls International PLC	2024-03-31	Add	+0.46%	● 52.4 ($58.24) 65.32	$80.99	39.06%	Add 17.92%	79,938,324	12,145,865
JNPR	Juniper Networks Inc	2024-09-30	Reduce	-0.45%	● 36.35 ($38.16) 39.03	$37.50	-1.73%	Reduce -60.51%	13,509,238	-20,703,552
BAC	Bank of America Corp	2023-09-30	Add	+0.45%	● 27.17 ($29.59) 32.65	$44.38	49.98%	Add 57.81%	66,637,135	24,411,655
TFC	Truist Financial Corp	2023-09-30	Add	+0.44%	● 27.97 ($30.75) 35.59	$43.99	43.06%	Add 74.56%	53,051,950	22,660,216
MCHP	Microchip Technology Inc	2024-03-31	Reduce	-0.44%	● 80.58 ($86.19) 93.34	$58.56	-32.06%	Reduce -47.18%	8,688,028	-7,761,231
BAX	Baxter International Inc	2023-12-31	Add	+0.43%	● 31.71 ($35.38) 38.95	$29.08	-17.81%	Add 178.03%	27,381,465	17,533,024
TMUS	T-Mobile US Inc	2022-12-31	Reduce	-0.43%	● 131.52 ($143.68) 152.41	$223.01	55.21%	Reduce -26.98%	11,590,334	-4,282,822
MCHP	Microchip Technology Inc	2024-06-30	Reduce	-0.42%	● 81.68 ($91.51) 99.49	$58.56	-36.01%	Reduce -92.84%	621,961	-8,066,067
OXY	Occidental Petroleum Corp	2023-12-31	Reduce	-0.41%	● 55.55 ($61.02) 66.5	$48.12	-21.14%	Reduce -10.46%	80,992,508	-9,456,795
GE	General Electric Co	2023-12-31	Reduce	-0.41%	● 106.08 ($116.09) 128.32	$171.49	47.72%	Reduce -24.52%	16,818,881	-5,464,700
CHTR	Charter Communications Inc	2022-12-31	Add	+0.41%	● 304.96 ($351.41) 394.4	$352.19	0.22%	Add 25.97%	8,471,513	1,746,242
SUI	Sun Communities Inc	2024-03-31	New Buy	+0.40%	● 123.35 ($129.82) 135.95	$125.32	-3.47%	New holding	5,418,615	5,418,615
OVV	Ovintiv Inc	2024-03-31	Reduce	-0.40%	● 40.27 ($45.54) 51.9	$38.76	-14.89%	Reduce -62.25%	8,665,010	-14,290,241
GOOG	Alphabet Inc	2023-09-30	Reduce	-0.39%	● 116.87 ($130.02) 138.99	$197.57	51.95%	Reduce -12.13%	35,363,825	-4,881,725
CSCO	Cisco Systems Inc	2023-09-30	Reduce	-0.39%	● 50.38 ($53.95) 57.84	$59.85	10.94%	Reduce -28.2%	28,779,116	-11,305,908
META	Meta Platforms Inc	2023-06-30	Reduce	-0.39%	● 207.55 ($246.21) 288.73	$607.75	146.84%	Reduce -36.83%	4,577,494	-2,668,363
COF	Capital One Financial Corp	2024-06-30	Reduce	-0.38%	● 133.7 ($140.29) 148.87	$182.12	29.82%	Reduce -18.23%	19,939,018	-4,443,799
AXP	American Express Co	2023-03-31	Reduce	-0.38%	● 146.43 ($165.89) 181.33	$303.46	82.93%	Reduce -87.93%	515,146	-3,752,665
ZBH	Zimmer Biomet Holdings Inc	2024-03-31	Add	+0.38%	● 119.98 ($124.91) 132.61	$107.30	-14.10%	Add 43.09%	16,419,270	4,944,735
VFC	VF Corp	2023-09-30	New Buy	+0.38%	● 16.59 ($19.03) 20.61	$21.88	14.98%	New holding	32,115,750	32,115,750
BAX	Baxter International Inc	2024-09-30	Add	+0.37%	● 32.85 ($36.74) 40.26	$29.08	-20.85%	Add 62.04%	44,598,194	17,075,449
PYPL	PayPal Holdings Inc	2023-03-31	Reduce	-0.37%	● 72.56 ($77.02) 86.96	$88.25	14.58%	Reduce -99.21%	59,350	-7,466,300
GOOG	Alphabet Inc	2023-12-31	Reduce	-0.37%	● 123.4 ($135.69) 142.82	$197.57	45.60%	Reduce -11.67%	31,236,915	-4,126,910
MCHP	Microchip Technology Inc	2022-12-31	Reduce	-0.36%	● 57.31 ($68.88) 79.19	$58.56	-14.98%	Reduce -24.87%	23,368,666	-7,734,395
SCHW	Charles Schwab Corp	2023-12-31	Add	+0.36%	● 49.33 ($57.75) 70.98	$74.84	29.59%	Add 10.46%	86,421,986	8,182,467
META	Meta Platforms Inc	2023-03-31	Reduce	-0.36%	● 124.74 ($170.3) 211.94	$607.75	256.87%	Reduce -37.93%	7,245,857	-4,428,333
TAP	Molson Coors Beverage Co	2023-06-30	Reduce	-0.35%	● 51.68 ($61.66) 67.75	$58.60	-4.96%	Reduce -35.44%	18,153,474	-9,966,580
NSC	Norfolk Southern Corp	2024-06-30	Add	+0.34%	● 209.9 ($232.04) 253.39	$237.92	2.53%	Add 32.86%	10,794,867	2,669,800
HLN	Haleon PLC	2024-03-31	Add	+0.33%	● 8.02 ($8.36) 8.67	$9.74	16.51%	Add 59.9%	176,953,251	66,290,153
UBS	UBS Group AG	2024-03-31	Reduce	-0.33%	● 27.05 ($29.54) 31.93	$30.55	3.42%	Reduce -18.31%	75,422,942	-16,909,009
AMZN	Amazon.com Inc	2022-12-31	Add	+0.33%	● 81.82 ($98.78) 121.09	$229.05	131.88%	Add 60.82%	15,060,500	5,695,545
FIS	Fidelity National Information Services Inc	2023-09-30	Add	+0.33%	● 54.39 ($57.55) 62.12	$82.34	43.08%	Add 32.01%	36,661,950	8,889,475
MSFT	Microsoft Corp	2024-03-31	Reduce	-0.32%	● 367.75 ($404.82) 429.37	$439.33	8.52%	Reduce -12.3%	9,490,609	-1,330,511
FDX	FedEx Corp	2023-06-30	Reduce	-0.32%	● 217.29 ($228.84) 249.98	$271.84	18.79%	Reduce -12.03%	14,854,234	-2,031,155
GEV	GE Vernova Inc	2024-06-30	Reduce	-0.31%	● 122.7 ($158.47) 181.45	$347.29	119.15%	Reduce -95.47%	182,865	-3,852,090
OTIS	Otis Worldwide Corp	2024-03-31	Reduce	-0.29%	● 85.45 ($92.42) 100.22	$94.00	1.71%	Reduce -99.56%	22,260	-5,004,237
NSC	Norfolk Southern Corp	2023-09-30	Add	+0.28%	● 195.64 ($216.16) 237.49	$237.92	10.07%	Add 49.15%	6,422,714	2,116,575
SNY	Sanofi SA	2022-12-31	Add	+0.28%	● 38.86 ($43.89) 48.55	$48.29	10.03%	Add 11.29%	84,189,074	8,538,408
STT	State Street Corporation	2024-06-30	Reduce	-0.27%	● 70.91 ($74.53) 78.01	$99.27	33.19%	Reduce -32.19%	12,914,714	-6,131,885
MCHP	Microchip Technology Inc	2023-09-30	Reduce	-0.27%	● 76.05 ($83.72) 93.94	$58.56	-30.05%	Reduce -20.46%	17,303,884	-4,451,984
GS	The Goldman Sachs Group Inc	2022-12-31	Reduce	-0.27%	● 294.21 ($348.16) 388.86	$582.79	67.39%	Reduce -16.76%	6,143,091	-1,237,158
CI	The Cigna Group	2023-09-30	Add	+0.27%	● 268.69 ($285.18) 299.4	$280.06	-1.80%	Add 11.67%	13,428,482	1,403,076
ELAN	Elanco Animal Health Inc	2022-12-31	Add	+0.27%	● 11.49 ($12.46) 13.52	$11.88	-4.65%	Add 59.95%	84,775,075	31,773,735
NSC	Norfolk Southern Corp	2023-12-31	Add	+0.27%	● 184.53 ($209.57) 236.53	$237.92	13.53%	Add 28.19%	8,233,372	1,810,658
OVV	Ovintiv Inc	2024-06-30	Sold Out	-0.26%	● 45.63 ($50.34) 55.56	$38.76	-23.00%	Sold Out	0	-8,665,010
BAX	Baxter International Inc	2023-09-30	New Buy	+0.25%	● 37.32 ($42.6) 49.29	$29.08	-31.74%	New holding	9,848,441	9,848,441
UBS	UBS Group AG	2023-09-30	Reduce	-0.25%	● 19.39 ($23.36) 26.71	$30.55	30.78%	Reduce -11.87%	136,903,417	-18,435,275
BIDU	Baidu Inc	2023-03-31	Reduce	-0.25%	● 119.13 ($141.83) 160.22	$88.05	-37.92%	Reduce -50.33%	3,148,215	-3,189,440
BUD	Anheuser-Busch InBev SA/NV	2023-09-30	Add	+0.25%	● 53.38 ($56.68) 58.86	$50.39	-11.10%	Add 25.94%	31,844,538	6,558,810
HPQ	HP Inc	2023-06-30	Reduce	-0.24%	● 28.9 ($30.01) 31.3	$33.44	11.43%	Reduce -23.46%	39,509,098	-12,109,907
NVS	Novartis AG	2023-06-30	Reduce	-0.24%	● 92 ($99.89) 104.91	$98.35	-1.54%	Reduce -19.23%	16,407,113	-3,905,567
GOOGL	Alphabet Inc	2023-03-31	Add	+0.24%	● 86.2 ($95.94) 107.74	$196.11	104.41%	Add 35.74%	12,841,330	3,381,255
BAC	Bank of America Corp	2024-06-30	Reduce	-0.23%	● 34.68 ($38.32) 40.02	$44.38	15.81%	Reduce -14.49%	60,616,153	-10,273,207
GOOG	Alphabet Inc	2023-06-30	Reduce	-0.23%	● 104 ($115.57) 127.91	$197.57	70.95%	Reduce -7.46%	40,245,550	-3,243,369
AMZN	Amazon.com Inc	2023-03-31	Add	+0.23%	● 83.12 ($96.61) 112.91	$229.05	137.09%	Add 21.91%	18,360,370	3,299,870
WMB	Williams Companies Inc	2022-12-31	Reduce	-0.23%	● 29.35 ($32.56) 34.96	$54.60	67.69%	Reduce -20.86%	39,357,265	-10,373,231
NTES	NetEase Inc	2023-06-30	Reduce	-0.22%	● 83.49 ($90.28) 98.64	$92.22	2.15%	Reduce -41.98%	5,077,959	-3,674,310
BK	Bank of New York Mellon Corp	2024-09-30	Reduce	-0.22%	● 59.54 ($65.77) 72.17	$78.05	18.67%	Reduce -11.41%	48,524,949	-6,246,833
MSFT	Microsoft Corp	2022-12-31	Add	+0.22%	● 214.25 ($239.99) 257.22	$439.33	83.06%	Add 12.04%	12,267,927	1,318,225
HMC	Honda Motor Co Ltd	2023-12-31	Reduce	-0.22%	● 29.44 ($31.57) 34.09	$27.25	-13.68%	Reduce -23.41%	31,649,060	-9,675,740
SBAC	SBA Communications Corp	2024-09-30	New Buy	+0.22%	● 189 ($221.66) 245.09	$202.56	-8.62%	New holding	1,623,515	1,623,515
GOOGL	Alphabet Inc	2022-12-31	Add	+0.21%	● 83.43 ($95.03) 104.48	$196.11	106.37%	Add 57.73%	9,460,075	3,462,405
TECK	Teck Resources Ltd	2024-03-31	Reduce	-0.21%	● 36.93 ($40.15) 45.78	$41.18	2.57%	Reduce -42.34%	10,560,340	-7,753,300
SU	Suncor Energy Inc	2024-06-30	Reduce	-0.21%	● 36.37 ($38.64) 41.05	$35.18	-8.95%	Reduce -24.4%	30,255,854	-9,763,000
JCI	Johnson Controls International PLC	2024-06-30	Add	+0.21%	● 60.47 ($67.32) 73.9	$80.99	20.31%	Add 6.67%	85,272,989	5,334,665
BKR	Baker Hughes Co	2023-06-30	Add	+0.21%	● 27.22 ($29.15) 31.61	$40.79	39.93%	Add 28.79%	43,880,654	9,808,300
COF	Capital One Financial Corp	2023-12-31	Reduce	-0.21%	● 88.97 ($107.87) 132.02	$182.12	68.83%	Reduce -11.2%	25,220,598	-3,182,206
TECK	Teck Resources Ltd	2023-06-30	Reduce	-0.20%	● 36.5 ($42.87) 48.65	$41.18	-3.94%	Reduce -28.62%	19,765,040	-7,926,000
NVS	Novartis AG	2023-12-31	Reduce	-0.20%	● 92.27 ($96.35) 100.97	$98.35	2.08%	Reduce -19.05%	13,165,538	-3,098,683
FOXA	Fox Corp	2023-09-30	Reduce	-0.20%	● 30.86 ($32.85) 34.93	$49.99	52.18%	Reduce -22.37%	30,041,880	-8,657,381
DELL	Dell Technologies Inc	2023-09-30	Reduce	-0.20%	● 52.61 ($59.58) 72.16	$118.94	99.63%	Reduce -33.75%	10,974,166	-5,589,792
TFC	Truist Financial Corp	2023-06-30	Add	+0.20%	● 26.21 ($31.11) 34.79	$43.99	41.40%	Add 48.9%	30,391,734	9,980,937

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