Dodge & Cox Files Schedule 13G Reporting 95,023,835 Cemex ADS (CX)

Rhea-AI Filing Summary

Dodge & Cox reports a material passive stake in Cemex. The firm holds 95,023,835 American Depositary Shares (ADS), equal to 6.6% of the ADS class. It reports sole voting power over 92,016,935 ADS and sole dispositive power over 95,023,835 ADS. The ADS convert into underlying CPOs, so these holdings represent economic and voting exposure to Cemex shares. The filing notes that clients of Dodge & Cox, including the Dodge & Cox International Stock Fund, have rights to dividends and sale proceeds; that fund holds 73,288,735 ADS (about 5.1% of the class). The statement is filed on Schedule 13G and includes a certification that the holdings were acquired and are held in the ordinary course of business and not to exert control.

Insights

Securities Analyst

TL;DR: Routine disclosure of a significant passive stake—material size but filed as non-control ownership.

Dodge & Cox reports ownership of 95,023,835 Cemex ADS, representing 6.6% of the class, with sole voting power declared over 92,016,935 ADS. The Schedule 13G filing signals passive intent rather than an activist or control purpose, reinforced by the certification that the shares were acquired in the ordinary course and not to influence control. For investors and analysts, the key takeaways are the sizable economic exposure and the distinction between passive ownership and a control-seeking position.

Corporate Governance Expert

TL;DR: Substantial stake reported but governance impact appears limited by passive filing and certification.

The filing discloses sole voting power on 92,016,935 ADS and sole dispositive power on 95,023,835 ADS, which is a large holding that could affect shareholder votes in aggregate. However, classification on Schedule 13G and the explicit certification that the interest is not intended to influence control indicate that Dodge & Cox is positioning as a passive investor rather than an active governance player. The disclosure of the Dodge & Cox International Stock Fund holding 73,288,735 ADS (5.1%) provides additional granularity on client-level concentration.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Cemex, S.A.B. de C.V.

(Name of Issuer)

American Depositary Shares, which convert into CPOs

(Title of Class of Securities)

151290889

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 151290889

1

Names of Reporting Persons

Dodge & Cox

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 92,016,935.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 95,023,835.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

95,023,835.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Cemex, S.A.B. de C.V.
(b)	Address of issuer's principal executive offices: Avenida Ricardo Margain Zozaya #325, Colonia Valle del Campestre, San Pedro Garza Garcia, Nuevo Leon, 66265 Mexico
Item 2.
(a)	Name of person filing: Dodge & Cox
(b)	Address or principal business office or, if none, residence: 555 California Street 40th Floor, San Francisco, CA 94104
(c)	Citizenship: California, USA
(d)	Title of class of securities: American Depositary Shares, which convert into CPOs
(e)	CUSIP No.: 151290889
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 95,023,835 American Depositary Shares
(b)	Percent of class: 6.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 92,016,935 American Depositary Shares
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 95,023,835 American Depositary Shares
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The clients of Dodge & Cox, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, Cemex, S.A.B. de C.V. Dodge & Cox International Stock Fund, an investment company registered under the Investment Company Act of 1940, has an interest of 73,288,735 or 5.1%, of the class of securities reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dodge & Cox

Signature:	/S/ Katherine M. Primas
Name/Title:	Chief Compliance Officer
Date:	08/13/2025