# EDGAR Filing Document

**Accession Number:** 0000200217
**File Stem:** 0000950123-25-007843
**Filing Date:** 2025-8
**Character Count:** 29373
**Document Hash:** ed4e65626c03719e26b963e9263cdf34
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950123-25-007843.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0000950123-25-007843

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250813

**DATE AS OF CHANGE**: 20250813

**EFFECTIVENESS DATE**: 20250813

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DODGE & COX
- **CENTRAL INDEX KEY:** 0000200217

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-00400
- **FILM NUMBER:** 251212442

**BUSINESS ADDRESS:**
- **STREET 1:** 555 CALIFORNIA STREET
- **STREET 2:** 40TH FLOOR
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104
- **BUSINESS PHONE:** 4159811710

**MAIL ADDRESS:**
- **STREET 1:** 555 CALIFORNIA STREET
- **STREET 2:** 40TH FLOOR
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Dodge  Cox<br>**Address:** 555 California Street<br>40th Floor<br>San Francisco, CA 94104

**Form 13F File Number:** 028-00400

**CRD Number (if applicable):** 000104596

**SEC File Number (if applicable):** 801-1895

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Katherine M. Primas<br>**Title:** Chief Compliance Officer<br>**Phone:** 415-981-1710

**Signature, Place, and Date of Signing:**

/S/Katherine M. Primas  San Francisco, CA  08-13-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 219

**Form 13F Information Table Value Total:** $177974737449

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Petroleo Brasileiro SA - Petrobras | SPONSORED ADR | 71654V408 | BBG001SF6W88 | 380304 | 30400 | SH |  | SOLE |  | 30400 | 0 | 0 |
| Archer-Daniels-Midland Co. | COM | 039483102 | BBG001S5ND74 | 345689155 | 6549624 | SH |  | SOLE |  | 6071137 | 0 | 478487 |
| BioNTech SE | SPONSORED ADS | 09075V102 | BBG00Q70B4L0 | 93420717 | 877437 | SH |  | SOLE |  | 835846 | 0 | 41591 |
| Laureate Education Inc. | COMMON STOCK | 518613203 | BBG00B4Z2YY9 | 306278 | 13100 | SH |  | SOLE |  | 13100 | 0 | 0 |
| Teledyne Technologies Inc. | COM | 879360105 | BBG001SDK336 | 767307179 | 1497740 | SH |  | SOLE |  | 1434450 | 0 | 63290 |
| Willis Towers Watson PLC | SHS | G96629103 | BBG001SHY2Q9 | 391836650 | 1278423 | SH |  | SOLE |  | 1227138 | 0 | 51285 |
| ACM Research Inc. | COM CL A | 00108J109 | BBG00HPSG942 | 2100283 | 81092 | SH |  | SOLE |  | 81092 | 0 | 0 |
| Grupo Cibest SA | SPON ADS | 40090E106 | BBG01TW82PB2 | 556405 | 12046 | SH |  | SOLE |  | 12046 | 0 | 0 |
| JBS NV | CL A SHS | N4732M103 | BBG01V30BCM3 | 233030 | 15950 | SH |  | SOLE |  | 15950 | 0 | 0 |
| Ralliant Corp. | COM | 750940108 | BBG01V4YRP33 | 523571050 | 10797506 | SH |  | SOLE |  | 10126839 | 0 | 670667 |
| Patria Investments Ltd. | COM CL A | G69451105 | BBG00YQ7XKN5 | 298072 | 21200 | SH |  | SOLE |  | 21200 | 0 | 0 |
| UBS Group AG | SHS | H42097107 | BBG007936GX0 | 1544315494 | 45635942 | SH |  | SOLE |  | 44600842 | 0 | 1035100 |
| Amrize Ltd. | SHS | H2927K103 | BBG01T2JZYW3 | 622084844 | 12470706 | SH |  | SOLE |  | 12314706 | 0 | 156000 |
| 3M Co. | COM | 88579Y101 | BBG001S5T7X2 | 1392387 | 9146 | SH |  | SOLE |  | 9146 | 0 | 0 |
| Abbott Laboratories | COM | 002824100 | BBG001S5N9M6 | 2356237 | 17324 | SH |  | SOLE |  | 17324 | 0 | 0 |
| AbbVie Inc. | COM | 00287Y109 | BBG0025Y4RZ3 | 1943998 | 10473 | SH |  | SOLE |  | 10473 | 0 | 0 |
| Adobe Inc. | COM | 00724F101 | BBG001S5NCQ5 | 7604900 | 19657 | SH |  | SOLE |  | 19657 | 0 | 0 |
| Aegon Ltd. | AMER REG 1 CERT | 0076CA104 | BBG001S6Y6M8 | 642456532 | 88737090 | SH |  | SOLE |  | 84737731 | 0 | 3999359 |
| Affiliated Managers Group Inc. | COM | 008252108 | BBG001S6DMD6 | 590310 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| Afya Ltd. | CL A COM | G01125106 | BBG00PK9C4D6 | 629779 | 35262 | SH |  | SOLE |  | 35262 | 0 | 0 |
| Air Products  Chemicals Inc. | COM | 009158106 | BBG001S5NSB6 | 2488164084 | 8821400 | SH |  | SOLE |  | 8338305 | 0 | 483095 |
| Alibaba Group Holding Ltd. | SPONSORED ADS | 01609W102 | BBG006G2JWB1 | 1243457861 | 10964270 | SH |  | SOLE |  | 10659370 | 0 | 304900 |
| Alnylam Pharmaceuticals Inc. | COM | 02043Q107 | BBG001S7FTC8 | 1042541035 | 3197096 | SH |  | SOLE |  | 3002221 | 0 | 194875 |
| Alphabet Inc. | CAP STK CL C | 02079K107 | BBG009S3NB21 | 2515287846 | 14179423 | SH |  | SOLE |  | 13358323 | 0 | 821100 |
| Alphabet Inc. | CAP STK CL A | 02079K305 | BBG009S39JY5 | 1987031668 | 11275218 | SH |  | SOLE |  | 10772868 | 0 | 502350 |
| Altria Group Inc. | COM | 02209S103 | BBG001S5T8T5 | 1231230 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| Amazon.com Inc. | COM | 023135106 | BBG001S5PQL7 | 3640151789 | 16592150 | SH |  | SOLE |  | 15709785 | 0 | 882365 |
| Ambev SA | SPONSORED ADR | 02319V103 | BBG005KLVT74 | 627564 | 260400 | SH |  | SOLE |  | 260400 | 0 | 0 |
| American Electric Power Co. Inc. | COM | 025537101 | BBG001S5NFD2 | 993232535 | 9572403 | SH |  | SOLE |  | 9036828 | 0 | 535575 |
| American Express Co. | COM | 025816109 | BBG001S5P034 | 114326898 | 358414 | SH |  | SOLE |  | 357689 | 0 | 725 |
| Ameriprise Financial Inc. | COM | 03076C106 | BBG001SK6096 | 975125 | 1827 | SH |  | SOLE |  | 1827 | 0 | 0 |
| Amgen Inc. | COM | 031162100 | BBG001S5NNL6 | 3820151 | 13682 | SH |  | SOLE |  | 13682 | 0 | 0 |
| Analog Devices Inc. | COM | 032654105 | BBG001S5ND38 | 7332206 | 30805 | SH |  | SOLE |  | 30805 | 0 | 0 |
| Anheuser-Busch InBev SA/NV | SPONSORED ADR | 03524A108 | BBG001T53FW2 | 2644176686 | 38477542 | SH |  | SOLE |  | 36990642 | 0 | 1486900 |
| APA Corp. | COM | 03743Q108 | BBG00YTS96H1 | 760864 | 41600 | SH |  | SOLE |  | 41600 | 0 | 0 |
| Apple Inc. | COM | 037833100 | BBG001S5N8V8 | 6205161 | 30244 | SH |  | SOLE |  | 30244 | 0 | 0 |
| Arcos Dorados Holdings Inc. | SHS CLASS -A - | G0457F107 | BBG001V0XGV6 | 867632 | 109966 | SH |  | SOLE |  | 109966 | 0 | 0 |
| AstraZeneca PLC | SPONSORED ADR | 046353108 | BBG001SB80N8 | 9607661 | 137488 | SH |  | SOLE |  | 137488 | 0 | 0 |
| Avantor Inc. | COM | 05352A100 | BBG00G2HHYF5 | 1580654695 | 117433484 | SH |  | SOLE |  | 111093684 | 0 | 6339800 |
| Baidu Inc. | SPON ADR REP A | 056752108 | BBG001SNBKD5 | 465480838 | 5427715 | SH |  | SOLE |  | 5247215 | 0 | 180500 |
| Baker Hughes Co. | CL A | 05722G100 | BBG00GBVBK60 | 1709305050 | 44582813 | SH |  | SOLE |  | 42885408 | 0 | 1697405 |
| Bank of America Corp. | COM | 060505104 | BBG001S5P0Y0 | 845158939 | 17860502 | SH |  | SOLE |  | 17103502 | 0 | 757000 |
| Baxter International Inc. | COM | 071813109 | BBG001S5P1K3 | 1578242654 | 52121620 | SH |  | SOLE |  | 49247620 | 0 | 2874000 |
| Berkshire Hathaway Inc. | CL B NEW | 084670702 | BBG001S90346 | 6188710 | 12740 | SH |  | SOLE |  | 12740 | 0 | 0 |
| Berkshire Hathaway Inc. | CL A | 084670108 | BBG001S902J2 | 2915200 | 4 | SH |  | SOLE |  | 4 | 0 | 0 |
| BioMarin Pharmaceutical Inc. | COM | 09061G101 | BBG001S76R05 | 830503801 | 15108310 | SH |  | SOLE |  | 14301386 | 0 | 806924 |
| Blackrock Inc. | COM | 09290D101 | BBG01PSW2WR0 | 687259 | 655 | SH |  | SOLE |  | 655 | 0 | 0 |
| Booking Holdings Inc. | COM | 09857L108 | BBG001S89N72 | 4228883511 | 730473 | SH |  | SOLE |  | 701058 | 0 | 29415 |
| Boston Scientific Corp. | COM | 101137107 | BBG001S63L94 | 9708253 | 90385 | SH |  | SOLE |  | 90385 | 0 | 0 |
| Bristol-Myers Squibb Co. | COM | 110122108 | BBG001S8N8J6 | 390537595 | 8436759 | SH |  | SOLE |  | 8111284 | 0 | 325475 |
| Broadcom Inc. | COM | 11135F101 | BBG00KHY5SY8 | 5838267 | 21180 | SH |  | SOLE |  | 21180 | 0 | 0 |
| Cadence Design Systems Inc. | COM | 127387108 | BBG001S65YK1 | 75950347 | 246472 | SH |  | SOLE |  | 246472 | 0 | 0 |
| Capital One Financial Corp. | COM | 14040H105 | BBG001S65PV8 | 2735339579 | 12856456 | SH |  | SOLE |  | 12355436 | 0 | 501020 |
| Carrier Global Corp. | COM | 14448C104 | BBG00RP5HZM1 | 935079026 | 12776049 | SH |  | SOLE |  | 12172049 | 0 | 604000 |
| Caterpillar Inc. | COM | 149123101 | BBG001S5PJ06 | 16274151 | 41921 | SH |  | SOLE |  | 41921 | 0 | 0 |
| Celanese Corp. | COM | 150870103 | BBG001SJDDG5 | 847913825 | 15324667 | SH |  | SOLE |  | 14490892 | 0 | 833775 |
| Cemex SAB de CV | SPON ADR NEW | 151290889 | BBG001SD8F15 | 658515177 | 95023835 | SH |  | SOLE |  | 92016935 | 0 | 3006900 |
| Charter Communications Inc. | CL A | 16119P108 | BBG001T3TDG2 | 4548618742 | 11126486 | SH |  | SOLE |  | 10525896 | 0 | 600590 |
| Chevron Corp. | COM | 166764100 | BBG001S67ZC5 | 26040104 | 181857 | SH |  | SOLE |  | 181857 | 0 | 0 |
| Chubb Ltd. | COM | H1467J104 | BBG001S8S1L3 | 209178 | 722 | SH |  | SOLE |  | 722 | 0 | 0 |
| Cia Energetica de Minas Gerais | SP ADR N-V PFD | 204409601 | BBG001S64WN3 | 29400 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| Cintas Corp. | COM | 172908105 | BBG001S7CRG1 | 445740 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| Cisco Systems Inc. | COM | 17275R102 | BBG001S6HC62 | 43116549 | 621455 | SH |  | SOLE |  | 620055 | 0 | 1400 |
| Cognizant Technology Solutions Corp. | CL A | 192446102 | BBG001S5STN6 | 1269337575 | 16267302 | SH |  | SOLE |  | 15583702 | 0 | 683600 |
| Coherent Corp. | COM | 19247G107 | BBG001S5S6N6 | 154475590 | 1731595 | SH |  | SOLE |  | 1569995 | 0 | 161600 |
| Colgate-Palmolive Co. | COM | 194162103 | BBG001S5PVM5 | 1272600 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| Comcast Corp. | CL A | 20030N101 | BBG001S5PXL2 | 3971309101 | 111272320 | SH |  | SOLE |  | 105315670 | 0 | 5956650 |
| ConocoPhillips | COM | 20825C104 | BBG001S5TZM2 | 1008269552 | 11235453 | SH |  | SOLE |  | 10811680 | 0 | 423773 |
| Copa Holdings SA | CL A | P31076105 | BBG001SKXLQ1 | 434382 | 3950 | SH |  | SOLE |  | 3950 | 0 | 0 |
| Corning Inc. | COM | 219350105 | BBG001S5RLH1 | 2098341 | 39900 | SH |  | SOLE |  | 39900 | 0 | 0 |
| Corteva Inc. | COM | 22052L104 | BBG00BN969D0 | 1562223 | 20961 | SH |  | SOLE |  | 20961 | 0 | 0 |
| Coupang Inc. | CL A | 22266T109 | BBG00XMJRPR7 | 1396571019 | 46614520 | SH |  | SOLE |  | 44398020 | 0 | 2216500 |
| Credicorp Ltd. | COM | G2519Y108 | BBG001S8L8P1 | 1150542378 | 5147380 | SH |  | SOLE |  | 4943895 | 0 | 203485 |
| CVS Health Corp. | COM | 126650100 | BBG001S5QBD8 | 5055459079 | 73288766 | SH |  | SOLE |  | 69465811 | 0 | 3822955 |
| Danaher Corp. | COM | 235851102 | BBG001S5QGT0 | 3264349 | 16525 | SH |  | SOLE |  | 16525 | 0 | 0 |
| Deere  Co. | COM | 244199105 | BBG001S5QFF7 | 6476129 | 12736 | SH |  | SOLE |  | 12736 | 0 | 0 |
| Dell Technologies Inc. | CL C | 24703L202 | BBG00DW3SZT0 | 3019638 | 24630 | SH |  | SOLE |  | 24630 | 0 | 0 |
| Diageo PLC | SPON ADR NEW | 25243Q205 | BBG001S7V596 | 1129105 | 11197 | SH |  | SOLE |  | 11197 | 0 | 0 |
| Dlocal Ltd. | CLASS A COM | G29018101 | BBG00XGCHFW6 | 416178 | 36700 | SH |  | SOLE |  | 36700 | 0 | 0 |
| Dominion Energy Inc. | COM | 25746U109 | BBG001S5QCP3 | 1295735017 | 22925248 | SH |  | SOLE |  | 22060748 | 0 | 864500 |
| Dow Inc. | COM | 260557103 | BBG00BN96931 | 376281 | 14210 | SH |  | SOLE |  | 14210 | 0 | 0 |
| DuPont de Nemours Inc. | COM | 26614N102 | BBG00BN961H3 | 1066643 | 15551 | SH |  | SOLE |  | 15551 | 0 | 0 |
| eBay Inc. | COM | 278642103 | BBG001S9B9J5 | 1049886 | 14100 | SH |  | SOLE |  | 14100 | 0 | 0 |
| EchoStar Corp. | CL A | 278768106 | BBG001T048Z5 | 371132079 | 13398270 | SH |  | SOLE |  | 12739208 | 0 | 659062 |
| Elanco Animal Health Inc. | COM | 28414H103 | BBG00LJYS1R6 | 1183743913 | 82895232 | SH |  | SOLE |  | 78973432 | 0 | 3921800 |
| Elevance Health Inc. | COM | 036752103 | BBG001S6KBQ8 | 505648 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| Eli Lilly  Co. | COM | 532457108 | BBG001S5STL8 | 35045330 | 44957 | SH |  | SOLE |  | 44957 | 0 | 0 |
| Exxon Mobil Corp. | COM | 30231G102 | BBG001S69V32 | 8367005 | 77616 | SH |  | SOLE |  | 77616 | 0 | 0 |
| FedEx Corp. | COM | 31428X106 | BBG001S5R3M5 | 3292015628 | 14482494 | SH |  | SOLE |  | 13723194 | 0 | 759300 |
| Fidelity National Information Services Inc. | COM | 31620M106 | BBG001S8SWQ0 | 2871696801 | 35274497 | SH |  | SOLE |  | 33496697 | 0 | 1777800 |
| Fiserv Inc. | COM | 337738108 | BBG001S5R6Q4 | 5123945202 | 29719536 | SH |  | SOLE |  | 28247236 | 0 | 1472300 |
| Flutter Entertainment PLC | SHS | G3643J108 | BBG001S87K70 | 179708177 | 628878 | SH |  | SOLE |  | 628878 | 0 | 0 |
| Fortive Corp. | COM | 34959J108 | BBG00BLVZ237 | 1729340029 | 33173605 | SH |  | SOLE |  | 31161605 | 0 | 2012000 |
| Fox Corp. | CL B COM | 35137L204 | BBG00JHNKKR3 | 377354170 | 7308816 | SH |  | SOLE |  | 6876326 | 0 | 432490 |
| Fox Corp. | CL A COM | 35137L105 | BBG00JHNJX06 | 785565750 | 14017947 | SH |  | SOLE |  | 13549541 | 0 | 468406 |
| Fresenius Medical Care AG | SPONSORED ADR | 358029106 | BBG001S97ZY5 | 109334819 | 3826910 | SH |  | SOLE |  | 3826910 | 0 | 0 |
| Gaming  Leisure Properties Inc. | COM | 36467J108 | BBG003MSMCT5 | 635704905 | 13618357 | SH |  | SOLE |  | 13063686 | 0 | 554671 |
| GE Aerospace | COM NEW | 369604301 | BBG001S5PVD5 | 2333449093 | 9065811 | SH |  | SOLE |  | 8651136 | 0 | 414675 |
| GE HealthCare Technologies Inc. | COMMON STOCK | 36266G107 | BBG01BFR8YW0 | 1745678057 | 23567950 | SH |  | SOLE |  | 22284487 | 0 | 1283463 |
| GE Vernova Inc. | COM | 36828A101 | BBG013G17W77 | 85839243 | 162221 | SH |  | SOLE |  | 161571 | 0 | 650 |
| General Mills Inc. | COM | 370334104 | BBG001S5RKR2 | 580272 | 11200 | SH |  | SOLE |  | 11200 | 0 | 0 |
| Genuine Parts Co. | COM | 372460105 | BBG001S5RNH7 | 565911 | 4665 | SH |  | SOLE |  | 4665 | 0 | 0 |
| Geopark Ltd. | USD SHS | G38327105 | BBG001SLK3B9 | 551233 | 84545 | SH |  | SOLE |  | 84545 | 0 | 0 |
| Gilead Sciences Inc. | COM | 375558103 | BBG001S6Y1X7 | 3416827360 | 30818322 | SH |  | SOLE |  | 29619922 | 0 | 1198400 |
| Grupo Aeroportuario del Sureste SAB de CV | SPON ADR SER B | 40051E202 | BBG001S5NWT8 | 542079 | 1700 | SH |  | SOLE |  | 1700 | 0 | 0 |
| Grupo Televisa SAB | SPON ADR REP ORD | 40049J206 | BBG001S64JP0 | 140617031 | 64208690 | SH |  | SOLE |  | 61750390 | 0 | 2458300 |
| GSK PLC | SPONSORED ADR | 37733W204 | BBG001SD6SM6 | 3024302170 | 78757869 | SH |  | SOLE |  | 75676164 | 0 | 3081705 |
| Haleon PLC | SPON ADS | 405552100 | BBG018GZNDB0 | 1612244630 | 155471999 | SH |  | SOLE |  | 149502775 | 0 | 5969224 |
| Halliburton Co. | COM | 406216101 | BBG001S5RS59 | 1054869 | 51760 | SH |  | SOLE |  | 51760 | 0 | 0 |
| HDFC Bank Ltd. | SPONSORED ADS | 40415F101 | BBG001SJB7J7 | 228660608 | 2982400 | SH |  | SOLE |  | 1817000 | 0 | 1165400 |
| Hess Corp. | COM | 42809H107 | BBG001S5NHS2 | 6168494 | 44525 | SH |  | SOLE |  | 44525 | 0 | 0 |
| Hewlett Packard Enterprise Co. | COM | 42824C109 | BBG0078W3NP4 | 1811522 | 88583 | SH |  | SOLE |  | 88583 | 0 | 0 |
| Honda Motor Co. Ltd. | ADR ECH CNV IN 3 | 438128308 | BBG001S5RXR4 | 2276129 | 78950 | SH |  | SOLE |  | 78950 | 0 | 0 |
| Honeywell International Inc. | COM | 438516106 | BBG001S5X1N1 | 1867465 | 8019 | SH |  | SOLE |  | 8019 | 0 | 0 |
| HP Inc. | COM | 40434L105 | BBG001S6W7N7 | 854717961 | 34943498 | SH |  | SOLE |  | 33537925 | 0 | 1405573 |
| Humana Inc. | COM | 444859102 | BBG001S5S1X6 | 2775561882 | 11352920 | SH |  | SOLE |  | 10715370 | 0 | 637550 |
| Incyte Corp. | COM | 45337C102 | BBG001S8Q6N2 | 993931826 | 14595181 | SH |  | SOLE |  | 13817079 | 0 | 778102 |
| Intercorp Financial Services Inc. | SHS | P5626F128 | BBG00PNFV2G9 | 663119 | 17391 | SH |  | SOLE |  | 17391 | 0 | 0 |
| International Business Machines Corp. | COM | 459200101 | BBG001S5S399 | 14170369 | 48071 | SH |  | SOLE |  | 48071 | 0 | 0 |
| International Flavors  Fragrances Inc. | COM | 459506101 | BBG001S5S5F7 | 2577735314 | 35047387 | SH |  | SOLE |  | 33346737 | 0 | 1700650 |
| Intuitive Surgical Inc. | COM NEW | 46120E602 | BBG001S7XR78 | 271705 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| Itau Unibanco Holding SA | SPON ADR REP PFD | 465562106 | BBG001S65TL1 | 120018784 | 17675815 | SH |  | SOLE |  | 13059665 | 0 | 4616150 |
| JD.com Inc. | SPON ADS CL A | 47215P106 | BBG005YHY0R6 | 610562175 | 18705949 | SH |  | SOLE |  | 18036049 | 0 | 669900 |
| Johnson  Johnson | COM | 478160104 | BBG001S5SHQ9 | 3199654 | 20947 | SH |  | SOLE |  | 20947 | 0 | 0 |
| Johnson Controls International PLC | SHS | G51502105 | BBG001S5WZ84 | 7068382651 | 66922767 | SH |  | SOLE |  | 64283871 | 0 | 2638896 |
| JOYY Inc. | ADS REPSTG COM A | 46591M109 | BBG003H0XVS9 | 2525441 | 49606 | SH |  | SOLE |  | 49606 | 0 | 0 |
| JPMorgan Chase  Co. | COM | 46625H100 | BBG001S8CRC3 | 77603979 | 267683 | SH |  | SOLE |  | 266933 | 0 | 750 |
| Juniper Networks Inc. | COM | 48203R104 | BBG001SCTT05 | 2673673 | 66959 | SH |  | SOLE |  | 66959 | 0 | 0 |
| Kaspi.KZ JSC | SPONSORED ADS | 48581R205 | BBG00QD4Z4X6 | 664349 | 7826 | SH |  | SOLE |  | 7826 | 0 | 0 |
| Las Vegas Sands Corp. | COM | 517834107 | BBG001SJCGP9 | 1226373 | 28186 | SH |  | SOLE |  | 28186 | 0 | 0 |
| Liberty Global Ltd. | COM CL A | G61188101 | BBG01K9HZHB9 | 47723286 | 4767561 | SH |  | SOLE |  | 4767561 | 0 | 0 |
| Liberty Global Ltd. | COM CL C | G61188127 | BBG01K9KJ456 | 68892121 | 6682068 | SH |  | SOLE |  | 6682068 | 0 | 0 |
| Linde PLC | SHS | G54950103 | BBG01FND0CH6 | 623817036 | 1329590 | SH |  | SOLE |  | 1329590 | 0 | 0 |
| Live Nation Entertainment Inc. | COM | 538034109 | BBG001SNP2B2 | 816912 | 5400 | SH |  | SOLE |  | 5400 | 0 | 0 |
| Lockheed Martin Corp. | COM | 539830109 | BBG001S7PS57 | 358934 | 775 | SH |  | SOLE |  | 775 | 0 | 0 |
| Loma Negra Cia Industrial Argentina SA | SPONSORED ADS | 54150E104 | BBG00HMSHSQ8 | 341167 | 31100 | SH |  | SOLE |  | 31100 | 0 | 0 |
| LPL Financial Holdings Inc. | COM | 50212V100 | BBG001T5GK39 | 1013059824 | 2701709 | SH |  | SOLE |  | 2553449 | 0 | 148260 |
| LyondellBasell Industries NV | SHS - A - | N53745100 | BBG001T8LMY9 | 981884026 | 16969997 | SH |  | SOLE |  | 16010097 | 0 | 959900 |
| McDonald's Corp. | COM | 580135101 | BBG001S5T110 | 1920433 | 6573 | SH |  | SOLE |  | 6573 | 0 | 0 |
| Medtronic PLC | SHS | G5960L103 | BBG001S5T2S9 | 674729186 | 7740383 | SH |  | SOLE |  | 7434983 | 0 | 305400 |
| Merck  Co. Inc. | COM | 58933Y105 | BBG001S5TC52 | 12451868 | 157300 | SH |  | SOLE |  | 157300 | 0 | 0 |
| Meta Platforms Inc. | CL A | 30303M102 | BBG001SQCQC5 | 3072855407 | 4163253 | SH |  | SOLE |  | 3940930 | 0 | 222323 |
| MetLife Inc. | COM | 59156R108 | BBG001S5T3R8 | 4276886870 | 53181881 | SH |  | SOLE |  | 50734281 | 0 | 2447600 |
| MGM Resorts International | COM | 552953101 | BBG001S6BYT5 | 481460 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| Microchip Technology Inc. | COM | 595017104 | BBG001S787B5 | 446131726 | 6339800 | SH |  | SOLE |  | 6122151 | 0 | 217649 |
| Microsoft Corp. | COM | 594918104 | BBG001S5TD05 | 4050041547 | 8142260 | SH |  | SOLE |  | 7721060 | 0 | 421200 |
| Millicom International Cellular SA | COM STK | L6388F110 | BBG001S8W0H5 | 331089866 | 8836132 | SH |  | SOLE |  | 8836132 | 0 | 0 |
| Molson Coors Beverage Co. | CL B | 60871R209 | BBG001S5VQ21 | 692313018 | 14396195 | SH |  | SOLE |  | 13820895 | 0 | 575300 |
| Mondelez International Inc. | CL A | 609207105 | BBG001SHHZJ3 | 798490 | 11840 | SH |  | SOLE |  | 11840 | 0 | 0 |
| Moody's Corp. | COM | 615369105 | BBG001S5VP87 | 785490 | 1566 | SH |  | SOLE |  | 1566 | 0 | 0 |
| Motorola Solutions Inc. | COM NEW | 620076307 | BBG001S5T9L1 | 4774323 | 11355 | SH |  | SOLE |  | 11355 | 0 | 0 |
| National Energy Services Reunited Corp. | SHS | G6375R107 | BBG00GNGGRK4 | 12863500 | 2136794 | SH |  | SOLE |  | 2136794 | 0 | 0 |
| NetEase Inc. | SPONSORED ADS | 64110W102 | BBG001SCVWD1 | 369526534 | 2745776 | SH |  | SOLE |  | 2745776 | 0 | 0 |
| Neurocrine Biosciences Inc. | COM | 64125C109 | BBG001S8W4X9 | 699692852 | 5566814 | SH |  | SOLE |  | 5292165 | 0 | 274649 |
| News Corp. | CL A | 65249B109 | BBG0035LY922 | 386842058 | 13016220 | SH |  | SOLE |  | 12457945 | 0 | 558275 |
| NextEra Energy Inc. | COM | 65339F101 | BBG001S5RB29 | 1638312 | 23600 | SH |  | SOLE |  | 23600 | 0 | 0 |
| Norfolk Southern Corp. | COM | 655844108 | BBG001S5TQJ6 | 2779609202 | 10859121 | SH |  | SOLE |  | 10193646 | 0 | 665475 |
| Novartis AG | SPONSORED ADR | 66987V109 | BBG001SF5LW6 | 1288469585 | 10647629 | SH |  | SOLE |  | 10230029 | 0 | 417600 |
| Nucor Corp. | COM | 670346105 | BBG001S5TRV0 | 803148 | 6200 | SH |  | SOLE |  | 6200 | 0 | 0 |
| Nutrien Ltd. | COM | 67077M108 | BBG00JM9SM69 | 586864620 | 10076659 | SH |  | SOLE |  | 9921459 | 0 | 155200 |
| Occidental Petroleum Corp. | COM | 674599105 | BBG001S5TZG9 | 3371486168 | 80254372 | SH |  | SOLE |  | 76251470 | 0 | 4002902 |
| Otis Worldwide Corp. | COM | 68902V107 | BBG00RP60LN7 | 1913066 | 19320 | SH |  | SOLE |  | 19320 | 0 | 0 |
| Parker-Hannifin Corp. | COM | 701094104 | BBG001S5V554 | 1746175 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| PayPal Holdings Inc. | COM | 70450Y103 | BBG0077VNXW5 | 332582 | 4475 | SH |  | SOLE |  | 4475 | 0 | 0 |
| PepsiCo Inc. | COM | 713448108 | BBG001S695T1 | 406023 | 3075 | SH |  | SOLE |  | 3075 | 0 | 0 |
| Pfizer Inc. | COM | 717081103 | BBG001S5V466 | 2616950 | 107960 | SH |  | SOLE |  | 107960 | 0 | 0 |
| Philip Morris International Inc. | COM | 718172109 | BBG001STP9N1 | 3096210 | 17000 | SH |  | SOLE |  | 17000 | 0 | 0 |
| Phillips 66 | COM | 718546104 | BBG00286S4P7 | 310180 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| PPG Industries Inc. | COM | 693506107 | BBG001S5VC13 | 250250 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| Regeneron Pharmaceuticals Inc. | COM | 75886F107 | BBG001S6PX49 | 2008798575 | 3826283 | SH |  | SOLE |  | 3628668 | 0 | 197615 |
| Rio Tinto PLC | SPONSORED ADR | 767204100 | BBG001SB0LX9 | 233320 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| RTX Corp. | COM | 75513E101 | BBG001S5X5Q9 | 6096909443 | 41753934 | SH |  | SOLE |  | 39658034 | 0 | 2095900 |
| S Global Inc. | COM | 78409V104 | BBG001S5T5M8 | 2847366 | 5400 | SH |  | SOLE |  | 5400 | 0 | 0 |
| Sanofi SA | SPONSORED ADR | 80105N105 | BBG001S5W768 | 3464711798 | 71718315 | SH |  | SOLE |  | 68856165 | 0 | 2862150 |
| SBA Communications Corp. | CL A | 78410G104 | BBG001SCWNN9 | 2021618731 | 8608494 | SH |  | SOLE |  | 8142859 | 0 | 465635 |
| Schlumberger NV | COM STK | 806857108 | BBG001S5W4C8 | 19140399 | 566284 | SH |  | SOLE |  | 562984 | 0 | 3300 |
| Shell PLC | SPON ADS | 780259305 | BBG0147BN6H1 | 4028367 | 57213 | SH |  | SOLE |  | 57213 | 0 | 0 |
| State Street Corp. | COM | 857477103 | BBG001S5RLD5 | 788236105 | 7412414 | SH |  | SOLE |  | 7054514 | 0 | 357900 |
| Sun Communities Inc. | COM | 866674104 | BBG001S7HRC0 | 1796001152 | 14198760 | SH |  | SOLE |  | 13635560 | 0 | 563200 |
| Suncor Energy Inc. | COM | 867224107 | BBG001S5YSF0 | 1026191942 | 27401654 | SH |  | SOLE |  | 26579154 | 0 | 822500 |
| Sunrise Communications AG | ADS CL A | 867975104 | BBG01QMB3FG8 | 129495259 | 2289925 | SH |  | SOLE |  | 2289925 | 0 | 0 |
| Synopsys Inc. | COM | 871607107 | BBG001S5VTR8 | 5639480 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | SPONSORED ADS | 874039100 | BBG001S5WWW4 | 24415622 | 107800 | SH |  | SOLE |  | 300 | 0 | 107500 |
| Target Corp. | COM | 87612E106 | BBG001SC0K41 | 10842523 | 109909 | SH |  | SOLE |  | 109909 | 0 | 0 |
| TC Energy Corp. | COM | 87807B107 | BBG001S5WW27 | 470618582 | 9645800 | SH |  | SOLE |  | 9645800 | 0 | 0 |
| TE Connectivity PLC | ORD SHS | G87052109 | BBG01Q08MMX4 | 2874103572 | 17039803 | SH |  | SOLE |  | 16360353 | 0 | 679450 |
| Teck Resources Ltd. | CL B | 878742204 | BBG001S60LH8 | 341919265 | 8467540 | SH |  | SOLE |  | 8467540 | 0 | 0 |
| The Allstate Corp. | COM | 020002101 | BBG001S9BM06 | 522399 | 2595 | SH |  | SOLE |  | 2595 | 0 | 0 |
| The Bank of New York Mellon Corp. | COM | 064058100 | BBG001S5P6Q6 | 3427501165 | 37619374 | SH |  | SOLE |  | 35982049 | 0 | 1637325 |
| The Charles Schwab Corp. | COM | 808513105 | BBG001S5VXD4 | 7696813467 | 84357885 | SH |  | SOLE |  | 80641835 | 0 | 3716050 |
| The Cigna Group | COM | 125523100 | BBG00KXRCDQ9 | 2958892667 | 8950610 | SH |  | SOLE |  | 8515910 | 0 | 434700 |
| The Coca-Cola Co. | COM | 191216100 | BBG001S5SMQ8 | 1742926 | 24635 | SH |  | SOLE |  | 24635 | 0 | 0 |
| The Gap Inc. | COM | 364760108 | BBG001S5RNN0 | 118631700 | 5439326 | SH |  | SOLE |  | 4968661 | 0 | 470665 |
| The Goldman Sachs Group Inc. | COM | 38141G104 | BBG001SC07Z6 | 2340227749 | 3306574 | SH |  | SOLE |  | 3163854 | 0 | 142720 |
| The Home Depot Inc. | COM | 437076102 | BBG001S5RTW7 | 8660770 | 23622 | SH |  | SOLE |  | 23622 | 0 | 0 |
| The PNC Financial Services Group Inc. | COM | 693475105 | BBG001S5V947 | 2624794 | 14080 | SH |  | SOLE |  | 14080 | 0 | 0 |
| The Procter  Gamble Co. | COM | 742718109 | BBG001S5V4L9 | 15024035 | 94301 | SH |  | SOLE |  | 94301 | 0 | 0 |
| The Travelers Co. Inc. | COM | 89417E109 | BBG001S5R103 | 27804362 | 103926 | SH |  | SOLE |  | 103926 | 0 | 0 |
| The Walt Disney Co. | COM | 254687106 | BBG001S5QHF3 | 36223693 | 292103 | SH |  | SOLE |  | 292103 | 0 | 0 |
| The Williams Co. Inc. | COM | 969457100 | BBG001S5XH10 | 71260897 | 1134547 | SH |  | SOLE |  | 1130247 | 0 | 4300 |
| Thermo Fisher Scientific Inc. | COM | 883556102 | BBG001S5WS08 | 10518038 | 25941 | SH |  | SOLE |  | 25941 | 0 | 0 |
| T-Mobile U.S. Inc. | COM | 872590104 | BBG001SKR9Y6 | 976932475 | 4100279 | SH |  | SOLE |  | 3940254 | 0 | 160025 |
| Trip.com Group Ltd. | ADS | 89677Q107 | BBG001S6VL20 | 1128820 | 19250 | SH |  | SOLE |  | 19250 | 0 | 0 |
| Truist Financial Corp. | COM | 89832Q109 | BBG001S5YYC0 | 898964 | 20911 | SH |  | SOLE |  | 20911 | 0 | 0 |
| Unilever PLC | SPON ADR NEW | 904767704 | BBG001S5X1K4 | 1461963 | 23900 | SH |  | SOLE |  | 23900 | 0 | 0 |
| Union Pacific Corp. | COM | 907818108 | BBG001S5X2M0 | 63373465 | 275441 | SH |  | SOLE |  | 275441 | 0 | 0 |
| UnitedHealth Group Inc. | COM | 91324P102 | BBG001S6WCJ1 | 2729912203 | 8750560 | SH |  | SOLE |  | 8314310 | 0 | 436250 |
| Vanguard S 500 ETF | S 500 ETF SHS | 922908363 | BBG001TC6MC1 | 681739 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| Verizon Communications Inc. | COM | 92343V104 | BBG001S67QY1 | 237985 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| VF Corp. | COM | 918204108 | BBG001S5X749 | 481210675 | 40954100 | SH |  | SOLE |  | 38631425 | 0 | 2322675 |
| Vipshop Holdings Ltd. | SPONSORED ADS A | 92763W103 | BBG002NLDML7 | 1869165 | 124197 | SH |  | SOLE |  | 124197 | 0 | 0 |
| Visa Inc. | COM CL A | 92826C839 | BBG001SRCFY3 | 304988 | 859 | SH |  | SOLE |  | 859 | 0 | 0 |
| Vulcan Materials Co. | COM | 929160109 | BBG001S5X8R2 | 6311844 | 24200 | SH |  | SOLE |  | 24200 | 0 | 0 |
| Walmart Inc. | COM | 931142103 | BBG001S5XH92 | 17510931 | 179085 | SH |  | SOLE |  | 179085 | 0 | 0 |
| Wells Fargo  Co. | COM | 949746101 | BBG001S5XF23 | 4065758401 | 50745861 | SH |  | SOLE |  | 48704686 | 0 | 2041175 |
| XP Inc. | CL A | G98239109 | BBG00QVJYHP4 | 693030589 | 34308445 | SH |  | SOLE |  | 32393945 | 0 | 1914500 |
| Yum China Holdings Inc. | COM | 98850P109 | BBG00B8N0HH0 | 380771016 | 8516462 | SH |  | SOLE |  | 8516462 | 0 | 0 |
| Zimmer Biomet Holdings Inc. | COM | 98956P102 | BBG001S7DQJ9 | 2015509600 | 22097463 | SH |  | SOLE |  | 20878838 | 0 | 1218625 |
| Zoetis Inc. | CL A | 98978V103 | BBG0039320P7 | 233925 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |

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