Home / Families / Dodge & Cox / year to 30 June 2025
Dodge & Cox
One season of the Dodge & Cox record. The family page shows the latest season.
- Vote records reported
- 8,592year to 30 June 2025
- Against management
- 5.2%432 of 8,264 marked votes
- Say-on-pay support
- 96.9%for, of for + against + abstain
- Shareholder-proposal support
- 36.1%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
In its Form N-PX for the year to 30 June 2025, Dodge & Cox listed 8,592 vote records. Votes against management made up 5.2% of those marked either way (432 of 8,264); the median of the fund families tracked here stood at 7.6%.
Weighted by the number of shares voted, the against-management share is 2.2%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.
On pay and on shareholder proposals: it voted for 96.9% of the section 14A say-on-pay items it reported (the median of the fund families tracked here: 88.8%) and it voted for 36.1% of the proposals put forward by security holders (the median of the fund families tracked here: 29.5%).
By category, votes against management were most frequent in EXTRAORDINARY TRANSACTIONS (18.6% of 102), CAPITAL STRUCTURE (8.7% of 1,081) and CORPORATE GOVERNANCE (8.7% of 1,776).
Compared with other filers
Each rate is defined once, in the methodology. The median is taken over 60 families with at least 25 vote records in the season.
| year to 30 June 2025 | This family | Median family | All filers pooled |
|---|---|---|---|
| Against-management share | 5.2% | 7.6% | 9.7% |
| Say-on-pay support rate | 96.9% | 88.8% | 84.3% |
| Shareholder-proposal support rate | 36.1% | 29.5% | 33.0% |
| Shares on loan, share of shares held | 0.00% | 0.85% | 2.20% |
| Largest families, year to 30 June 2026 | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|
| Vanguard | 20.1% | 94.1% | 42.0% |
| BlackRock and iShares | 7.5% | 88.3% | 11.9% |
| Fidelity | 6.0% | 94.7% | 27.6% |
| Dimensional | 16.4% | 78.9% | 57.4% |
| State Street and SPDR | 16.9% | 77.1% | 50.4% |
Votes by category
Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.
| Category (as the form names it) | Votes | For | Against | Against management | Split |
|---|---|---|---|---|---|
| DIRECTOR ELECTIONS | 3,926 | 3,734 | 109 | 3.0% | |
| SECTION 14A SAY-ON-PAY VOTES | 372 | 348 | 11 | 4.0% | |
| AUDIT-RELATED | 520 | 516 | 4 | 0.6% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 17 | 12 | 5 | 46.2% | |
| EXTRAORDINARY TRANSACTIONS | 102 | 83 | 14 | 18.6% | |
| CAPITAL STRUCTURE | 1,081 | 988 | 83 | 8.7% | |
| COMPENSATION | 758 | 696 | 61 | 6.6% | |
| CORPORATE GOVERNANCE | 1,822 | 1,630 | 156 | 8.7% | |
| ENVIRONMENT OR CLIMATE | 79 | 20 | 59 | 0.0% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 36 | 15 | 21 | 0.0% | |
| DIVERSITY, EQUITY, AND INCLUSION | 38 | 15 | 23 | 0.0% | |
| OTHER SOCIAL ISSUES | 122 | 40 | 82 | 2.5% | |
| OTHER | 57 | 51 | 6 | 7.1% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 8,742 | 5.8% | 95.7% | 16.9% | |
| year to 30 June 2025 | 8,592 | 5.2% | 96.9% | 36.1% | |
| year to 30 June 2026 | 9,173 | 5.1% | 97.1% | 36.9% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, Dodge & Cox voted against management on 8 of the 180 it marked either way (4.4%) in the year to 30 June 2025.
- Thermo Fisher Scientific Inc. 21 May 2025
- Pfizer Inc. 24 Apr 2025
- Otis Worldwide Corporation 15 May 2025
- Truist Financial Corporation 29 Apr 2025
- Biogen Inc. 17 Jun 2025
- The Interpublic Group of Companies, Inc. 18 Mar 2025
- Neogen Corporation 24 Oct 2024
- Elanco Animal Health Incorporated 16 May 2025
Shareholder proposals it supported
Of 120 proposals from security holders that could be told apart in the filings and on which it cast a vote, Dodge & Cox voted for 33 (27.5%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| Meta Platforms, Inc. | 28 May 2025 | A shareholder proposal regarding dual class capital structure. |
| The Charles Schwab Corporation | 22 May 2025 | Stockholder proposal requesting declassification of the board of directors |
| Booking Holdings Inc. | 3 Jun 2025 | Reduce Ownership Threshold for Shareholders to Call Special Meeting |
| CVS Health Corporation | 15 May 2025 | Stockholder Proposal for Reducing the Threshold for Our Stockholder Right to Act By Written Consent. |
| Air Products and Chemicals, Inc. | 23 Jan 2025 | The Mantle Ridge Parties' proposal to repeal any provision of, or amendment to, the Bylaws that the Board... |
| Capital One Financial Corporation | 8 May 2025 | Stockholder proposal to require a shareholder vote on golden parachute arrangements. |
| Baxter International Inc. | 6 May 2025 | Adopt Share Retention Policy For Senior Executives |
| Fortive Corporation | 3 Jun 2025 | Reduce Ownership Threshold for Shareholders to Call Special Meeting |
| Celanese Corporation | 14 May 2025 | Advisory vote on shareholder proposal requesting simple majority vote charter and by-laws amendments |
| Ping An Insurance (Group) Company of China, Ltd. | 13 May 2025 | Approve Issue of Domestic Debt Financing Instruments |
| Itau Unibanco Holding SA | 17 Apr 2025 | Shareholder proposal: AUDIT-RELATED |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Amend Fair Decision-Making System for Related-Party (Connected) Transactions |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Amend Independent Directors System |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Amend Management System of Entrusted Wealth Management |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Amend Management System of External Guarantee |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Shareholder proposal: CORPORATE GOVERNANCE |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Amend Regulations on the Bulk Raw Materials Hedging Business |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Amend Regulations on the Management of Fund Raising |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Amend Rules of Procedure for the Board of Directors |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Amend Rules of Procedure for the General Meeting |
| Haier Smart Home Co., Ltd. | 28 May 2025 | Approve 2025 A Share Core Employee Stock Ownership Plan (Draft) and Its Summary |
| Petroleo Brasileiro SA | 16 Apr 2025 | Shareholder proposal: AUDIT-RELATED |
| Ambev SA | 29 Apr 2025 | Shareholder proposal: AUDIT-RELATED |
| Suzano SA | 25 Apr 2025 | Shareholder proposal: AUDIT-RELATED |
| Centrais Eletricas Brasileiras SA | 29 Apr 2025 | Shareholder proposal: AUDIT-RELATED |
| Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited | 21 Jan 2025 | Shareholder proposal: AUDIT-RELATED |
| Atacadao SA | 29 Apr 2025 | Shareholder proposal: AUDIT-RELATED |
| Hangzhou GreatStar Industrial Co., Ltd. | 3 Jun 2025 | Amend Articles of Association |
| China Suntien Green Energy Corporation Limited | 27 Jun 2025 | Amend Rules of Procedures for General Meetings |
| China Suntien Green Energy Corporation Limited | 27 Jun 2025 | Amend Rules of Procedures for the Board of Directors |
| National Atomic Company Kazatomprom JSC | 27 May 2025 | Shareholder Proposal regarding the Composition of the Board of Directors |
| Shandong Pharmaceutical Glass Co., Ltd. | 16 May 2025 | Shareholder proposal: AUDIT-RELATED |
| Shandong Pharmaceutical Glass Co., Ltd. | 16 May 2025 | Shareholder proposal: AUDIT-RELATED |
Shares on loan
Dodge & Cox reported no shares on loan for the year to 30 June 2025. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.
Questions
How did Dodge & Cox vote on executive pay?
In the year to 30 June 2025 Dodge & Cox reported 359 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 348 were for (96.9%), 11 against and 0 abstentions. Counting one item per company meeting, it voted against management on 8 of the 180 say-on-pay items it marked either way.
How often does Dodge & Cox vote against management?
5.2% of the time in the year to 30 June 2025: 432 of the 8,264 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.
Did Dodge & Cox support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 59 votes on proposals from security holders in the year to 30 June 2025 and voted for 0 of them (0.0%). Across every category it voted for 36.1% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.
Is this the result of the meetings?
No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.
Where does the data come from?
From the Form N-PX filings of the registrants and managers grouped under this family on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.
Back to the Dodge & Cox family page · All filers in the year to 30 June 2025
Provenance: SEC EDGAR, Form N-PX and N-PX/A filings of the filers grouped under Dodge & Cox, read as filed and not verified by the SEC. Filings read through 23 Sep 2026; page built 26 Sep 2026.