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DODGE & COX FUNDS
fund voting report, part of Dodge & Cox
- Vote records reported
- 8,957year to 30 June 2026
- Against management
- 5.2%444 of 8,577 marked votes
- Say-on-pay support
- 97.1%for, of for + against + abstain
- Shareholder-proposal support
- 36.9%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
For the year to 30 June 2026, DODGE & COX FUNDS reported 8,957 vote records on Form N-PX. 444 of the 8,577 votes that were marked for or against management went against management: 5.2%, 1.1 percentage points below the median fund registrant (6.2%).
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 97.1% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 36.9% of the proposals put forward by security holders (the median fund registrant: 27.5%).
By category, votes against management were most frequent in EXTRAORDINARY TRANSACTIONS (15.9% of 69), CORPORATE GOVERNANCE (10.2% of 1,894) and COMPENSATION (8.5% of 787).
Compared with other filers
Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.
| year to 30 June 2026 | This filer | Median fund registrant | All filers pooled |
|---|---|---|---|
| Against-management share | 5.2% | 6.2% | 10.6% |
| Say-on-pay support rate | 97.1% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 36.9% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 0.00% | 0.00% | 3.12% |
| 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 | 4,252 | 4,029 | 72 | 2.0% | |
| SECTION 14A SAY-ON-PAY VOTES | 221 | 202 | 6 | 2.7% | |
| AUDIT-RELATED | 588 | 577 | 10 | 1.7% | |
| INVESTMENT COMPANY MATTERS | 1 | 1 | 0 | 0.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 22 | 11 | 11 | 21.4% | |
| EXTRAORDINARY TRANSACTIONS | 69 | 55 | 14 | 15.9% | |
| CAPITAL STRUCTURE | 1,151 | 1,060 | 88 | 7.9% | |
| COMPENSATION | 794 | 723 | 65 | 8.5% | |
| CORPORATE GOVERNANCE | 1,952 | 1,700 | 232 | 10.2% | |
| ENVIRONMENT OR CLIMATE | 68 | 20 | 48 | 0.0% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 39 | 17 | 22 | 0.0% | |
| DIVERSITY, EQUITY, AND INCLUSION | 38 | 17 | 21 | 0.0% | |
| OTHER SOCIAL ISSUES | 123 | 44 | 79 | 1.6% | |
| OTHER | 94 | 89 | 5 | 2.4% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 8,539 | 5.8% | 98.3% | 16.9% | |
| year to 30 June 2025 | 8,402 | 5.2% | 98.3% | 36.1% | |
| year to 30 June 2026 | 8,957 | 5.2% | 97.1% | 36.9% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, DODGE & COX FUNDS voted against management on 2 of the 81 it marked either way (2.5%) in the year to 30 June 2026.
- FedEx Corporation 29 Sep 2025
- Elanco Animal Health Incorporated 21 May 2026
Shareholder proposals it supported
Of 115 proposals from security holders that could be told apart in the filings and on which it cast a vote, DODGE & COX FUNDS voted for 37 (32.2%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| Wells Fargo & Company | 28 Apr 2026 | Shareholder Proposal - Govern by Majority Vote. |
| The Goldman Sachs Group, Inc. | 29 Apr 2026 | Shareholder Proposal Regarding Special Shareholder Meeting Thresholds |
| CVS Health Corporation | 14 May 2026 | Stockholder Proposal for Reducing the Threshold for Our Stockholder Right to Act By Written Consent. |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding annual vote regarding executive pay. |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding disclosure of voting results by share class. |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding dual class capital structure. |
| The Cigna Group | 22 Apr 2026 | Shareholder Proposal - Shareholder Right to Act by Written Consent |
| FedEx Corporation | 29 Sep 2025 | Stockholder proposal regarding independent board chairman. |
| Cognizant Technology Solutions Corporation | 2 Jun 2026 | Shareholder proposal to adopt shareholder right to act by written consent |
| Humana Inc. | 16 Apr 2026 | The stockholder proposal requesting shareholder approval requirement for excessive golden parachutes |
| TransUnion | 12 May 2026 | Advisory vote on a stockholder proposal requesting a stockholder right to call a special meeting. |
| Fox Corporation | 14 Nov 2025 | Simple Majority Vote. |
| Contemporary Amperex Technology Co., Ltd. | 25 Dec 2025 | Shareholder proposal: CAPITAL STRUCTURE |
| PT Bank Mandiri (Persero) Tbk | 19 Dec 2025 | Amend Articles of Association |
| PT Bank Mandiri (Persero) Tbk | 19 Dec 2025 | Approve Delegation of Authority for Approval of the 2026 Company Work Plan and Budget |
| Jeronimo Martins SGPS SA | 23 Apr 2026 | Appraise Management and Supervision of Company and Approve Vote of Confidence to Corporate Bodies |
| Itau Unibanco Holding SA | 28 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Haier Smart Home Co., Ltd. | 24 Jun 2026 | Shareholder proposal: CAPITAL STRUCTURE |
| Haier Smart Home Co., Ltd. | 24 Jun 2026 | Amend Articles of Association |
| Haier Smart Home Co., Ltd. | 24 Jun 2026 | Approve A Share Core Employee Stock Ownership Plan (Draft) and Its Summary |
| Haier Smart Home Co., Ltd. | 24 Jun 2026 | Approve Change of Use and Cancellation of Repurchased Shares |
| Haier Smart Home Co., Ltd. | 24 Jun 2026 | Approve Restatement and Amendment of The H Share Restricted Share Unit Scheme |
| Haier Smart Home Co., Ltd. | 24 Jun 2026 | Authorize Board and Its Authorized Persons to Handle All Matters Relating to the A-Share Core Employee... |
| Petroleo Brasileiro SA | 16 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| PT Bank Rakyat Indonesia (Persero) Tbk | 17 Dec 2025 | Shareholder proposal: CORPORATE GOVERNANCE |
| PT Bank Rakyat Indonesia (Persero) Tbk | 10 Apr 2026 | Amend Articles of Association |
| Ambev SA | 30 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Sungrow Power Supply Co., Ltd. | 24 Apr 2026 | Amend Articles of Association |
| Sungrow Power Supply Co., Ltd. | 24 Apr 2026 | Approve Determining the Roles of Company Directors |
| Centrais Eletricas Brasileiras SA | 15 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| PT Bank Negara Indonesia (Persero) Tbk | 15 Dec 2025 | Amend Articles of Association |
| PT Bank Negara Indonesia (Persero) Tbk | 15 Dec 2025 | Shareholder proposal: CORPORATE GOVERNANCE |
| Suzano SA | 23 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Companhia Energetica de Minas Gerais SA | 30 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| ENN Natural Gas Co., Ltd. | 15 May 2026 | Approve Extension of Validity Period and Related Authorization Periods of the Major Asset Restructuring |
| Hangzhou GreatStar Industrial Co., Ltd. | 9 Oct 2025 | Approve Provision of Guarantee |
| Ser Educacional SA | 27 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
Shares on loan
DODGE & COX FUNDS reported no shares on loan for the year to 30 June 2026. 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.
Fund series in this filing
5 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.
| Series | Vote records | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|---|
| Dodge & Cox Emerging Markets Stock Fund | 3,718 | 9.7% | 100.0% | 93.1% |
| Dodge & Cox International Stock Fund | 1,514 | 2.3% | 100.0% | 5.3% |
| Dodge & Cox Global Stock Fund | 1,431 | 2.5% | 95.7% | 24.3% |
| Dodge & Cox Balanced Fund | 1,165 | 2.2% | 97.1% | 16.2% |
| Dodge & Cox Stock Fund | 1,129 | 2.3% | 97.2% | 16.4% |
The filings
These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.
- N-PX/A filed 25 Aug 2026 accession 0001193125-26-364636
- Every N-PX filing by this filer on EDGAR
Questions
How did DODGE & COX FUNDS vote on executive pay?
In the year to 30 June 2026 DODGE & COX FUNDS reported 208 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 202 were for (97.1%), 6 against and 0 abstentions. Counting one item per company meeting, it voted against management on 2 of the 81 say-on-pay items it marked either way.
How often does DODGE & COX FUNDS vote against management?
5.2% of the time in the year to 30 June 2026: 444 of the 8,577 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 FUNDS support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 48 votes on proposals from security holders in the year to 30 June 2026 and voted for 0 of them (0.0%). Across every category it voted for 36.9% 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 this filer 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.
Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by DODGE & COX FUNDS (filer no. 29440), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.