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This site is owned and operated by Dodge & Cox on behalf of Dodge & Cox Worldwide Funds plc. Before continuing, please read the following important information and confirm that you have read and agree to these provisions and the Terms and Conditions of Use of this website.
 

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TERMS & CONDITIONS OF USE

Use of the Dodge & Cox website ("Site"), owned and operated by Dodge & Cox®, signifies that you accept the following Terms of Use. Nothing contained in these Terms of Use is intended to modify or amend any other written agreement, if any, that may currently be in effect between you and Dodge & Cox or any funds managed by Dodge & Cox. Dodge & Cox may periodically modify these Terms of Use, and any such modifications will be effective immediately upon posting. We suggest that you periodically check these Terms of Use for modifications. If you do not agree to the Terms of Use, do not use this Site.

We suggest that you check the Terms of Use periodically for changes. The Terms of Use can be accessed from the link at the bottom of the Site pages. Dodge & Cox expressly reserves the right to monitor any and all use of this Site, without liability.
 

PRIVACY

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We may collect personal information about you from:

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We do not disclose personal information about current or former clients or shareholders to any third parties except as necessary to effect a transaction, administer your account, or as otherwise permitted by law. For example, the Dodge & Cox Funds and Dodge & Cox Worldwide Funds use third-party transfer agents and third-party providers of systems who use your information only to process or analyze transactions you have requested. Contracts with these organizations contain provisions restricting their use of your personal information to those purposes for which they were hired.

We restrict access to personal information about you to those employees and service providers involved in administering or servicing your account(s) or helping us meet our regulatory obligations. We maintain physical, electronic, and procedural safeguards that comply with federal standards to protect your personal information. In addition, our Code of Ethics, which applies to all Dodge & Cox employees, restricts the use of your personal information.

For more information about privacy, please read the Dodge & Cox Privacy Policy.

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Pursuant to Section 512(c)(2) of the U.S. Copyright Revision Act, as enacted through the Digital Millennium Copyright Act, Dodge & Cox designates an agent as described below to receive notifications of claimed copyright infringement by mail: 
Roberta R. Kameda, Esquire, General Counsel, Dodge & Cox, 555 California Street, 40th Floor, San Francisco, CA 94104.

The designated copyright agent can also be reached by telephone at (800) 254-8494, by fax at (415) 986-1369, and by e-mail at website@dodgeandcox.com.


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If you have created a Link that conforms to these Linking Conditions, then you also may include one or more Links to any internal or subsidiary page of this Site that is located one or several levels down from the homepages (known as "deep links"), provided, however, that all such deep links must be in close physical proximity to the Link that conforms to the Linking Conditions. You may not maintain numerous or pervasive Links to this Site.

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You agree to indemnify, defend, and hold harmless Dodge & Cox, its affiliates, and each of its and their officers, directors (and trustees), employees, and agents, from and against all claims, demands, liabilities, damages, losses, or expenses, including attorney's fees and costs, arising out of or related to your improper access to or use of this Site, or any violation by you of these Terms of Use.

Dodge & Cox does not claim that materials in this Site are appropriate or available for use in all locations. Because of the global nature of the Internet, you agree to comply with all local rules with respect to your online conduct, including all laws, rules, codes, and regulations of the country in which you reside and the country from which you access this Site, including without limitation, all laws, rules, codes, regulations, decrees, acts, orders, directives, legislation, bills, and statutes pertaining to tax, contracts, intellectual property, securities, e-commerce, banking, technology, computers, fraud, and privacy.

Each investment product and service referred to on this Site is intended to be made available only to persons where that product or service is registered and/or licensed for sale or where such registration or licensing is not required. This Site will not be considered a solicitation for or offering of any investment product or service to any person in any jurisdiction where such solicitation or offering would be illegal.

TIMELINESS OF CONTENT

All content on this Site is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. In addition, you are responsible for setting the cache settings on your browser to ensure you are receiving the most recent data.


TERMINATION

The rights granted to you herein terminate immediately if you fail to comply with the Terms of Use. Dodge & Cox, in its sole discretion, reserves the right to temporarily or permanently terminate your access to and use of this Site at any time and for any reason whatsoever, without notice or liability. Dodge & Cox will not be liable to you or any third party for any termination of your access to or use of this Site.
 

INTEGRATION AND SEVERABILITY

If any provision of these Terms of Use is deemed unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these Terms of Use and will not affect the validity and enforceability of the remaining provisions. The preceding Terms of Use represent the entire agreement between Dodge & Cox and the user relating to the subject matter herein.

Terms of Use as of: February 2022

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Fund Fact Sheet (DE)

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Fund Fact Sheet (EN)

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Overview

Objective

The U.S. Stock Fund seeks long-term growth of principal and income.

Investment approach1

The Fund offers investors a highly selective, actively managed core equity mutual fund that invests in businesses based on our analysis of long-term fundamentals relative to current valuations. Generally, we: 

  • Primarily target a diversified portfolio of U.S. equity securities, typically investing in medium-to-large, well-established companies that, in our opinion, appear to be temporarily undervalued by the stock market but have a favourable outlook for long-term growth.

  • Also invest up to 10% of the Fund in non-U.S. companies that are not included in the S&P 500 Index. 

  • Select individual securities based on our analyses of various factors—including a company’s financial strength, economic condition, competitive advantage, quality of the business franchise, financially material environmental, social, and governance (ESG) issues, and the reputation, experience, and competence of its management—as weighed against valuation.

Share class performance

Portfolio

Meet the Fund’s Investment Committee


We believe investors benefit from our team-based approach to managing investments. Through close collaboration and debate, we bring our best ideas forward. The primary responsibilities of the Committee, whose members’ average tenure at Dodge & Cox is 23 years, include:
 

  • Setting and reviewing U.S. equity investment strategy, and continually assessing opportunities and risks to the portfolio.  
  • Evaluating and debating analyst recommendations and analyses to collaborate on buy, sell, and position-sizing decisions across individual holdings and sectors.
  • Overseeing the strategy’s implementation and monitoring portfolio holdings, making changes when appropriate.
David Hoeft

David Hoeft

Board Chair and Chief Investment Officer, Investment Committee Member

32 years with Dodge & Cox
Steve Voorhis

Steve Voorhis

Director of Research, Investment Committee Member

29 years with Dodge & Cox
Phil Barret

Phil Barret

Investment Committee Member, Global Industry Analyst, D&C Board Member

21 years with Dodge & Cox
Karim Fakhry

Karim Fakhry

Investment Committee Member, Global Industry Analyst

20 years with Dodge & Cox
Katie McCarthy

Katie McCarthy

Investment Committee Member, Global Industry Analyst

18 years with Dodge & Cox
Ben Garosi

Ben Garosi

Investment Committee Member, Global Industry Analyst

16 years with Dodge & Cox

Documents

Literature

Fact Sheet (DE) PDF Icon
Shareholder Letter PDF Icon
Fact Sheet (EN) PDF Icon
Portfolio Holdings PDF Icon
Investment Commentary PDF Icon

Regulatory Documents

Prospectus PDF Icon
Annual Report PDF Icon
Country Supplement to the Prospectus PDF Icon
Semi-Annual Report PDF Icon
PRIIPs Key Information Document – USD Accumulating Class PDF Icon
SFDR Statement PDF Icon

Need some help?

Our experienced team is available to answer your questions or help you find what you are looking for.

Contact Us

The Fund is subject to market risk, meaning holdings in the Fund may decline in value for extended periods due to the financial prospects of individual companies or due to general market and economic conditions. Please refer to the risk indicator under the applicable key information document for details regarding the Fund's risk profile.

Figures represented by a dash are zero or have no associated data while figures represented by a zero may be rounded to zero.

The S&P 500 Index is a market capitalization-weighted index of 500 large-capitalization stocks commonly used to represent the U.S. equity market.

The S&P 500 Index (''Index'') and associated data are a product of S&P Dow Jones Indices LLC, its affiliates and/or their licensors and has been licensed for use by Dodge & Cox. © 2026 S&P Dow Jones Indices LLC, its affiliates and/or their licensors. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit www.spdji.com. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (''SPFS'') and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (''Dow Jones''). Neither S&P Dow Jones Indices LLC, SPFS, Dow Jones, their affiliates nor their licensors (''S&P DJI'') make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and S&P DJI shall have no liability for any errors, omissions, or interruptions of any index or the data included therein.

For more information, visit dodgeandcox.com/index_disclosures.

The portfolio’s Price-to-Earnings ratios exclude extraordinary items and negative earnings. Benchmark figures include extraordinary items and negative earnings

 

Price-to-Earnings (forward) ratios are calculated using 12-month forward earnings estimates from third-party sources as of the reporting period. Estimates reflect a consensus of sell-side analyst estimates, which may lag as market conditions change.

 

Portfolio Turnover is calculated as the lesser of the portfolio purchases or sales divided by the average portfolio value for the period.

Footnotes