Dodge & Cox Funds Statutoary Prospectus dated May 1, 2013

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▪ Issuer risk. Securities held by the Fund may decline invalue because of changes in the financial condition of,or other events affecting, the issuers of these securities.▪ Management risk. Dodge & Cox’s opinion about theintrinsic worth of a company or security may beincorrect, Dodge & Cox may not make timely purchasesor sales of securities for the Fund, the Fund’s investmentobjectives may not be achieved, and the market maycontinue to undervalue the Fund’s securities.▪ Equity risk. Equity securities generally have greater pricevolatility than debt securities.▪ Market risk. Stock prices may decline over short orextended periods due to general market conditions.▪ Liquidity risk. The Fund may not be able to purchase orsell a security in a timely manner or at desired prices orachieve its desired weighting in a security.▪ Non-U.S. issuer risk. Securities (including ADRs) maydecline in value because of political, economic, ormarket instability; the absence of accurate informationabout the companies; risks of internal and externalconflicts; or unfavorable government actions, includingexpropriation and nationalization. These securities mayalso lose value due to changes in foreign currencyexchange rates against the U.S. dollar and/or currenciesof other countries. Non-U.S. securities are sometimesless liquid, more volatile, and harder to value thansecurities of U.S. issuers. Lack of uniform accounting,auditing, and financial reporting standards, with lessgovernmental regulation and oversight than U.S.companies, may increase risk. Some countries also mayhave different legal systems that may make it difficult forthe Fund to vote proxies, exercise shareholder rights,and pursue legal remedies with respect to investments.These risks may be higher when investing in emergingmarkets companies. Certain of these risks may also applyto securities of U.S. companies with significant non-U.S. operations.An investment in the Fund is not a deposit of abank and is not insured or guaranteed by the FederalDeposit Insurance Corporation or any othergovernment agency.PERFORMANCE INFORMATIONThe following bar chart and table are intended to helpyou understand the risks of investing in the Fund. The barchart shows changes in the Fund’s returns from year toyear. The table shows how the Fund’s average annual totalreturns for one, five, and ten years compare to those of abroad measure of market performance.The Fund’s past performance (before and after taxes)does not necessarily indicate how the Fund will perform in thefuture. Visit the Fund’s website at www.dodgeandcox.com orcall 800-621-3979 for current performance figures.DODGE & COX STOCK FUNDAnnual total returns 2004-2013 (%)19.16049.360518.54060.1407−43.310831.270913.4810−4.081122.011240.55Highest/Lowest quarterly results during the time period were:Highest: 23.10% (quarter ended June 30, 2009)Lowest: –23.33% (quarter ended December 31, 2008)AVERAGE ANNUAL TOTAL RETURNSFOR THE PERIODS ENDED 12/31/2013Dodge & CoxStock Fund 1 Year 5 Years 10 YearsReturn before taxes 40.55% 19.63% 7.95%Return after taxes on distributions 40.06 19.33 7.33Return after taxes on distributionsand sale of Fund shares 23.25 16.04 6.53S&P 500 Index (reflects no deductionfor expenses or taxes) 32.41 17.94 7.4113After-tax returns are calculated using the historicalhighest individual federal marginal income tax rates, butPAGE 2 ▪ D ODGE & C OX F UNDS
do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individualcircumstances. After-tax return figures do not apply to you if you hold your Fund shares through a tax-deferred arrangementsuch as a 401(k) plan or an individual retirement account.FUND MANAGEMENTDodge & Cox serves as investment manager to the Stock Fund. The Fund is managed by Dodge & Cox’s Investment PolicyCommittee (IPC), which consists of the following nine members:Committee Member Primary Titles with Investment ManagerYears managingthe Fund/Years withDodge & CoxJohn A. Gunn Portfolio Manager and member of International Investment Policy Committee (IIPC) 37/42Charles F. Pohl Chairman, Chief Investment Officer, Director, Portfolio Manager, Investment Analyst,and member of Fixed Income Investment Policy Committee (FIIPC), Global StockInvestment Policy Committee (GSIPC), and IIPC22/30C. Bryan Cameron Senior Vice President, Director of Research, Portfolio Manager, Investment Analyst, andmember of IIPCDiana S. Strandberg Senior Vice President, Director of International Equity, Director, Portfolio Manager,Investment Analyst, and member of GSIPC, IIPC, and Global Bond Investment PolicyCommitteeDavid C. Hoeft Senior Vice President, Associate Director of Research, Director, Portfolio Manager, and 12/21Investment AnalystGregory R. Serrurier Senior Vice President, Portfolio Manager, and member of IIPC 18/30Wendell W. Birkhofer Vice President and Portfolio Manager 12/27Steven C. Voorhis Vice President, Portfolio Manager, Investment Analyst, and member of GSIPC 8/18Philippe Barret, Jr. Vice President, Portfolio Manager, and Investment Analyst 1/1022/319/26OTHER IMPORTANT INFORMATION ABOUT FUND SHARESFor important information about purchase and sale of Fund shares, tax information, and payments to financial intermediariesplease turn to the “Summary of Other Important Information About Fund Shares” section on page 26 of this prospectus.D ODGE & C OX F UNDS ▪ PAGE 3
Page 1 and 2: D ODGE & COX F UNDS ®May 1, 2014Li
Page 3: DODGE & COX STOCK FUNDINVESTMENT OB
Page 7 and 8: should expect the Fund’s share pr
Page 9 and 10: FUND MANAGEMENTDodge & Cox serves a
Page 11 and 12: PRINCIPAL RISKS OF INVESTINGYou cou
Page 13 and 14: FUND MANAGEMENTDodge & Cox serves a
Page 15 and 16: may be invested in below investment
Page 17 and 18: An investment in the Fund is not a
Page 19 and 20: DODGE & COX INCOME FUNDINVESTMENT O
Page 21 and 22: was anticipated, delaying the retur
Page 23 and 24: DODGE & COX GLOBAL BOND FUNDINVESTM
Page 25 and 26: “junk” securities, have specula
Page 27 and 28: The Fund’s past performance (befo
Page 29 and 30: INVESTMENT OBJECTIVES, PRINCIPAL IN
Page 31 and 32: y non-U.S. companies from at least
Page 33 and 34: apidly changing economic, market, a
Page 35 and 36: securities rated Baa or BBB or belo
Page 37 and 38: lower interest rates, resulting in
Page 39 and 40: DISCLOSURE OF PORTFOLIO HOLDINGSA c
Page 41 and 42: successful, hedging strategies may
Page 43 and 44: also include futures contracts that
Page 45 and 46: HOW TO PURCHASE SHARES (continued)I
Page 47 and 48: authorized signatory named on a cer
Page 49 and 50: If, subsequent to placing a redempt
Page 51 and 52: fully reflect their fair value. The
Page 53 and 54: PRICING OF SHARESThe share price (n
Page 55 and 56:
from the account. These accounts ar
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GLOBAL STOCK INVESTMENT POLICY COMM
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FIXED INCOME INVESTMENT POLICY COMM
Page 61 and 62:
Code of Ethics Dodge & Cox has adop
Page 63 and 64:
Important Note: The services descri
Page 65 and 66:
DODGE & COX BALANCED FUNDYear Ended
Page 68:
D ODGE & COX F UNDS ®FOR MORE INFO
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Dodge & Cox Funds Statutoary Prospectus dated May 1, 2013

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