---
title: "Dodge & Cox's $185.26B Q4 Portfolio: Value Tilts Stay Intact While Mega-Cap Tech Remains Secondary"
type: research
slug: dodge-cox-q4-2025-185b-value-tilt-tech-underweight
canonical_url: https://13finsight.com/research/dodge-cox-q4-2025-185b-value-tilt-tech-underweight
published_at: 2026-03-22T17:51:27.444Z
updated_at: 2026-03-23T07:00:19.332Z
author: Marcus Chen
author_title: Senior Market Analyst
author_url: https://13finsight.com/authors/marcus-chen
word_count: 376
locale: en
source: 13F Insight
---

# Dodge & Cox's $185.26B Q4 Portfolio: Value Tilts Stay Intact While Mega-Cap Tech Remains Secondary

> Dodge & Cox closed 2025Q4 with $185.26B across 222 positions and a 74.75 WhaleScore, pairing steady scale with broad value-style exposure across financials, healthcare, and energy.

Dodge & Cox ended 2025Q4 with $185.26B in reported 13F assets across 222 positions, and a WhaleScore of 74.75. The setup reads like classic Dodge & Cox — broad diversification, durable position sizing, and a value-oriented mix rather than a single-theme momentum bet. For investors tracking institutional conviction, the key signal this quarter is consistency: AUM held near the prior quarter (full filer profile), while portfolio breadth expanded from 219 to 222 names. That combination usually points to portfolio maintenance and incremental rebalancing, not a style reset. Scale Without Concentration Shock The top disclosed positions include SCHW at $7.64B (4.13%), plus large allocations to non-mega-cap names such as CVS ($4.96B) and FDX ($4.50B). Financial exposure is also visible through MET ($4.12B). Importantly, the 13F dataset marks many names as NEW position this quarter. In this system that status can be a filing-classification artifact, so it should not be interpreted as a confirmed fresh buy without supplemental filing-level validation. Value-Style Sector Tilt Still Dominates the Character Even with exposure to platform leaders like GOOG, MSFT, and AMZN, the overall profile still leans toward the fund’s long-standing value discipline. Healthcare and financial franchises remain central, and energy participation (for example, OXY) reinforces the cyclical-value sleeve. This is why the quarter reads as underweight mega-cap tech versus an index-heavy growth benchmark: the fund owns major tech names, but they do not dominate position weights in the way cap-weighted index exposure typically does. Holding-Period Signal: Stable AUM Through a Choppy Year From 2024Q1 to 2025Q4, AUM moved from $172.38B to $185.26B, with alternating quarterly moves rather than one-way expansion. 2025Q3 printed $185.33B and 2025Q4 was $185.26B, essentially flat quarter over quarter. That pattern is consistent with a lower-turnover framework focused on multi-quarter compounding. What Q4 2025 Signals for Value-Oriented Followers Dodge & Cox remains a high-scale, broadly distributed portfolio at $185.26B. 222 positions and near-flat QoQ AUM suggest portfolio continuity rather than aggressive regime change. Sector character remains value-leaning, while mega-cap tech appears as a supporting sleeve, not the core engine. Investors who use 13F data to track institutional style drift should watch whether this balance persists into the next filing cycle: if AUM remains stable while non-tech value sleeves stay large, the long-cycle contrarian playbook is still in force.

## FAQ

### What was Dodge & Cox’s 13F AUM in Q4 2025?

Dodge & Cox reported $185.26B in 13F assets for 2025Q4, with the same canonical AUM and holdings-value sum in the research inputs.

### How many positions did Dodge & Cox report in the quarter?

The filing snapshot shows 222 positions in 2025Q4, up from 219 in 2025Q3.

### What are the largest disclosed holdings in this filing?

Top reported positions include SCHW at $7.64B (4.13%), then G51502105 at $7.23B and 75513e105 at $6.89B, followed by CVS and FDX.

### Does the filing indicate Dodge & Cox is all-in on mega-cap tech?

No. The portfolio includes major tech names like GOOG, MSFT, and AMZN, but the overall top-position mix remains broadly diversified and value-leaning rather than tech-dominant.

### Can ‘NEW position’ labels in this dataset be treated as confirmed new buys?

Not automatically. In this pipeline, ‘NEW position’ can reflect a classification artifact, so those tags should be validated before being interpreted as true fresh buys.

---

Source: 13F Insight — https://13finsight.com/research/dodge-cox-q4-2025-185b-value-tilt-tech-underweight
Author: Marcus Chen — https://13finsight.com/authors/marcus-chen
Last updated: 2026-03-23T07:00:19.332Z