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Before continuing, please read the following important information and agree to these provisions and the Terms & Conditions of Use of this website for Financial Professionals.
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. Your continued use of the Site following the posting of any modifications constitutes your acceptance of any such modifications. We suggest that you periodically check these Terms of Use for modifications. The Terms of Use can be accessed from the link at the bottom of the Site pages. If you do not agree to the Terms of Use, do not use the Site.
Dodge & Cox expressly reserves the right to monitor any and all use of the Site, without liability.
PRIVACY
Dodge & Cox is committed to maintaining the confidentiality, integrity, and security of your personal and financial data. We consider this information to be private and held in confidence between you and Dodge & Cox. We would like you to know about our policies to protect the privacy of this information.
We may collect personal information about you from:
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 Access Persons, restricts the use of your personal information.
The Site may use cookies, web beacons, pixel tags, and similar tracking technologies to collect information about your use of the Site and to improve your experience. Such technologies may collect information including your IP address, browser type, pages visited, and the date and time of your visit. You may manage your cookie preferences through your browser settings; however, disabling cookies may affect the functionality of the Site. For additional information regarding Dodge & Cox's use of cookies and tracking technologies, please refer to the Dodge & Cox Privacy Policy.
For more information about privacy, please read the Dodge & Cox Privacy Policy. The Privacy Policy is incorporated into these Terms of Use by reference.
LIMITED LICENSE AND RESTRICTIONS ON USE
Dodge & Cox grants you a limited, revocable, nonexclusive, nontransferable license to view, store, bookmark, download, and print the pages within the Site solely for your personal, informational, and noncommercial use or as expressly authorized by Dodge & Cox in writing. You are responsible for obtaining and maintaining all equipment, services, and other materials that you need to access the Site. Dodge & Cox reserves all rights not expressly granted in these Terms of Use. Except as otherwise stated in these Terms of Use or as expressly authorized by Dodge & Cox in writing, you may not:
COPYRIGHT POLICY, NOTICE AND CLAIM INFORMATION
Dodge & Cox owns and operates the Site. All Materials on the Site, whether separate or compiled, including but not limited to, text, graphics, audio clips, logos, buttons, images, digital downloads, data compilations, software, icons, html code and xml code, as well as all copyright, patent, trademark, trade dress, and other rights therein, are owned or licensed by Dodge & Cox® and its third-party information providers, and are protected by United States and international intellectual property laws.
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:
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.
LINKING CONDITIONS
You may not link to the Site unless you comply with these linking conditions ("Linking Conditions"). Dodge & Cox grants you a limited, revocable, nonexclusive right to create a hyperlink to the Site ("Link"), provided you comply at all times with the following conditions:
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 the 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 the Site.
DATA, INFORMATION AND CONTENT
The Materials on the Site are for information, education, and noncommercial purposes only. Although Dodge & Cox may provide data, information, and content relating to investment approaches and opportunities to buy or sell securities and/or mutual funds, you should not construe any such information or other content available through the Site as legal or tax advice. You alone will bear the sole responsibility of evaluating the merits and risks associated with the use of any Materials on the Site before making any decisions based on such Materials. In exchange for using such Materials, you agree not to hold Dodge & Cox or its affiliates and their directors (trustees), officers, employees, or third-party information providers liable for any possible claim for damages arising from any decision you make based on the Materials made available to you through the Site. By providing access to other websites, neither Dodge & Cox nor any of its affiliates is recommending the purchase or sale of the stock issued by any company, nor are they endorsing services provided by any website's sponsoring organization.
OWNERSHIP OF OTHER MATERIALS
All trademarks, service marks, and logos appearing on the Site are the exclusive property of their respective owners.
All Dodge & Cox graphics, logos, page headers, and service names are trademarks, service marks, or trade dress of Dodge & Cox. Dodge & Cox's trademarks, service marks and trade dress may not be used in connection with any product or service that is not Dodge & Cox's, in any manner that is likely to cause confusion among customers or investors, or in any manner that disparages or discredits Dodge & Cox. Nothing contained on the Site should be construed as granting any license or right in or to any trademarks, service marks, or trade dress of Dodge & Cox.
THIRD-PARTY CONTENT
Data and other materials appearing on the Site that are provided by third parties are believed by Dodge & Cox to be obtained from reliable sources, but Dodge & Cox cannot guarantee and is not responsible for their accuracy, timeliness, completeness, or suitability for use. Dodge & Cox is not responsible for, and does not prepare, edit, or endorse, the content, advertising, products, or other materials on or available from any website owned or operated by a third party that is linked to the Site via hyperlink. The fact that Dodge & Cox has provided a link to a third party's website does not constitute an implicit or explicit endorsement, authorization, sponsorship, or affiliation by Dodge & Cox with respect to such website, its owners, providers, or services. You will use any such third-party content at your own risk.
SOCIAL MEDIA
The following terms apply to your use of any Dodge & Cox page or account on LinkedIn or any other third-party social media platform (each, a "Social Media Page"). LinkedIn and other social media platforms are owned and operated by third parties unaffiliated with Dodge & Cox. Each Social Media Page is governed by the applicable platform's own user agreement and privacy policy, and you are responsible for reviewing and complying with those terms. Your use of any such platform is at your own risk.
Dodge & Cox is not responsible for any third-party content found on LinkedIn or other social media platforms or any linked websites. Dodge & Cox does not endorse, recommend, or adopt any content on its Social Media Pages or linked websites other than content posted directly by Dodge & Cox.
Any likes, shares, reposts, or similar engagement by Dodge & Cox with user-generated content do not constitute an endorsement by Dodge & Cox, the Dodge & Cox Funds, or the Dodge & Cox Worldwide Funds and do not represent the views of the firm. The use of the "follow" function by Dodge & Cox is not intended to constitute an endorsement or testimonial of the account followed. Replies, links, or references to third-party content do not constitute an endorsement by Dodge & Cox, the Dodge & Cox Funds, or the Dodge & Cox Worldwide Funds of any individual, entity, product, or service.
Opinions, statements, or views expressed by Dodge & Cox on any Social Media Page are subject to change without notice and should not be construed as investment advice, a recommendation, or an offer or solicitation to buy or sell any security.
Dodge & Cox reserves the right to remove any content and to block any follower or user who posts or links content that Dodge & Cox, in its sole discretion, deems inappropriate, offensive, misleading, or promotional in nature, or that constitutes a testimonial, investment advice, or a recommendation or advertisement for securities, products, or services. Dodge & Cox further reserves the right to block any user whose social media page contains offensive, inappropriate, or promotional content.
If you believe that content you posted on a Dodge & Cox Social Media Page was removed or access to it was disabled by mistake or misidentification, you may submit a counter-notification to the designated copyright agent identified above. Any counter-notification must comply with the requirements of 17 U.S.C. § 512(g)(3), as applicable to U.S. users, in addition to the requirements of any other applicable jurisdiction.
Please do not post any personal, account-related, or confidential information on or through any Dodge & Cox Social Media Page.
Dodge & Cox’s materials are not directed to individuals under the age of thirteen (13). If you are under the age of thirteen (13), you are not permitted to use a Dodge & Cox Social Media Page or to provide any personal information to Dodge & Cox. Additional restrictions may apply depending on the jurisdiction from which you access a Social Media Page.
Your use of any Dodge & Cox Social Media Page is also subject to these Terms of Use, including the Warranty Disclaimers and Liability and Indemnity provisions set forth herein.
WARRANTY DISCLAIMERS
YOU EXPRESSLY UNDERSTAND AND AGREE THAT:
THERE ARE NO IMPLIED OR EXPRESS WARRANTIES ON THE MATERIALS ON THE SITE; THE MATERIALS ARE PROVIDED "AS IS" AND ON AN "AS AVAILABLE” BASIS. DODGE & COX, ITS AFFILIATES, AND THEIR AGENTS, DIRECTORS (AND TRUSTEES), OFFICERS, EMPLOYEES, LICENSORS AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS DISCLAIM, TO THE FULLEST EXTENT UNDER APPLICABLE LAW, ANY WARRANTY OF ANY KIND, WHETHER EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER RELATING TO THE SITE, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, AND ALL WARRANTIES REGARDING SECURITY, CURRENCY, CORRECTNESS, QUALITY, ACCURACY, COMPLETENESS, RELIABILITY, PERFORMANCE, TIMELINESS, OR CONTINUED AVAILABILITY, WITH RESPECT TO (I) THE SITE; (II) ANY MATERIALS, PRODUCTS, OR SERVICES AVAILABLE ON OR THROUGH THE SITE; (III) USE OF THE SITE, MATERIALS, PRODUCTS, OR SERVICES; AND (IV) THE RESULTS OF THE USE OF THE SITE, MATERIALS, PRODUCTS, OR SERVICES. FURTHER, DODGE & COX, ITS AFFILIATES, AND THEIR DIRECTORS (AND TRUSTEES), OFFICERS, EMPLOYEES, AGENTS, LICENSORS, AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS EXPRESSLY DISCLAIM ALL WARRANTIES WITH RESPECT TO ANY DELAYS OR ERRORS IN THE TRANSMISSION OR DELIVERY OF ANY MATERIALS, PRODUCTS, OR SERVICES AVAILABLE THROUGH THE SITE. EXCEPT AS PROVIDED BY LAW, NEITHER DODGE & COX NOR ITS THIRD-PARTY INFORMATION PROVIDERS AND VENDORS HAS ANY RESPONSIBILITY TO MAINTAIN THE MATERIALS, PRODUCTS, OR SERVICES OFFERED ON THE SITE OR TO SUPPLY CORRECTIONS, UPDATES, OR RELEASES FOR THE SAME. USE OF THE SITE IS AT YOUR OWN RISK. REFERENCE TO A FUND OR SECURITY ANYWHERE ON THE SITE IS NOT A RECOMMENDATION TO BUY, SELL, OR HOLD THAT OR ANY OTHER SECURITY. IF YOU LIVE IN A STATE THAT DOES NOT ALLOW DISCLAIMERS OF CERTAIN WARRANTIES, SOME OF THE ABOVE EXCLUSIONS MAY NOT APPLY TO YOU. THIS WARRANTY GIVES YOU SPECIFIC LEGAL RIGHTS, AND YOU MAY HAVE OTHER RIGHTS, WHICH VARY FROM JURISDICTION TO JURISDICTION.
LIABILITY AND INDEMNITY
ANY MATERIALS DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE SITE ARE DONE AT YOUR OWN RISK. YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR OTHER EQUIPMENT, OR LOSS OF DOWNLOADED OR OBTAINED DATA THAT RESULTS FROM SUCH DOWNLOAD.
NEITHER DODGE & COX NOR ITS AFFILIATES, DIRECTORS (AND TRUSTEES), OFFICERS, EMPLOYEES, AGENTS, LICENSORS, OR ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS WILL BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, REVENUE, INCOME, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES, OR DAMAGES CAUSED BY THEFT, UNAUTHORIZED ACCESS, SYSTEMS FAILURE, OR COMMUNICATIONS LINE FAILURE, OR THE COST OF PROCURING SUBSTITUTE GOODS OR SERVICES, CAUSED BY THE USE OF OR INABILITY TO USE THE SITE, MATERIALS OR ANY PRODUCTS OR SERVICES PROVIDED HEREIN, OR ANY OTHER MATTER RELATING TO THE SITE, EVEN IF DODGE & COX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE EXCLUSIONS OR LIMITATIONS MAY NOT APPLY TO YOU. TO THE EXTENT THAT A JURISDICTION DOES NOT PERMIT THE EXCLUSION OR LIMITATION OF LIABILITY AS SET FORTH HEREIN, THE LIABILITY OF DODGE & COX AND ITS AFFILIATES, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS IS LIMITED TO THE EXTENT PERMITTED BY LAW IN SUCH JURISDICTIONS.
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 (i) your access to or use of the Site, (ii) your access to or use of the Site in violation of these Terms of Use, (iii) any violation by you of these Terms of Use, (iv) any information or content you provide on, to or through the Site, or (v) your violation of any applicable law, rule, or regulation.
Dodge & Cox does not claim that materials on the 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 the 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 the 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. The 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 the 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 configuring the cache settings on your browser to ensure you are receiving the most recent data.
FORWARD-LOOKING STATEMENTS
Certain information provided on the Site may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "intend," "estimate," "may," "will," "should," "continue," and similar expressions. Such statements are based on current expectations and assumptions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Dodge & Cox assumes no obligation to update any forward-looking statements contained on the Site.
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 the 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 the Site. The following provisions shall survive any termination of these Terms of Use: Privacy, Copyright Policy, Warranty Disclaimers, Liability and Indemnity, Ownership of Other Materials, Forward-Looking Statements, Governing Law and Dispute Resolution, Force Majeure, No Advisory or Agency Relationship, and Miscellaneous, together with any other provisions that by their nature are intended to survive termination.
GOVERNING LAW AND DISPUTE RESOLUTION
These Terms of Use and any dispute arising out of or related to the use of the Site shall be governed by and construed in accordance with the laws of the State of California, without regard to its conflict of laws principles. The United Nations Convention on Contracts for the International Sale of Goods shall not apply. Any dispute, claim, or controversy arising out of or related to these Terms of Use or your use of the Site shall be resolved exclusively by final and binding arbitration administered by JAMS in San Francisco, California, in accordance with the JAMS Streamlined Arbitration Rules and Procedures then in effect. The arbitration shall be conducted by a single arbitrator selected in accordance with such rules. The arbitrator shall have no authority to award relief on a class, collective, or representative basis, and may not consolidate claims of more than one person. All aspects of the arbitration proceeding, including the award, shall be kept confidential, except as may be required by law or as necessary to confirm, vacate, or enforce the award. Judgment on the arbitration award may be entered in any court of competent jurisdiction. Nothing in this section shall prevent Dodge & Cox from seeking injunctive or other equitable relief in any court of competent jurisdiction, without the necessity of posting any bond or proving actual damages. YOU HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY ACTION OR LITIGATION ARISING OUT OF OR RELATED TO THESE TERMS OF USE. To the fullest extent permitted by applicable law, any claim or cause of action arising out of or related to these Terms of Use or the Site must be filed within one (1) year after such claim or cause of action arose, or be forever barred. To the extent permitted by applicable law, you agree that any arbitration or other proceeding to resolve disputes will be conducted on an individual basis only. You waive any right to participate in a class action, collective action, or representative proceeding, whether in arbitration or in court.
FORCE MAJEURE
Dodge & Cox shall not be liable for any delay or failure in performance of the Site resulting from causes beyond its reasonable control, including but not limited to acts of nature, natural disasters, war, terrorism, riots, embargoes, acts of governmental authorities, fire, floods, epidemics, pandemics, power outages, telecommunications failures, or internet disruptions.
ELECTRONIC COMMUNICATIONS
By using the Site, you consent to receive electronic communications from Dodge & Cox relating to your use of the Site. You agree that all such notices, disclosures, and other communications that Dodge & Cox provides to you electronically satisfy any legal requirement that such communications be in writing.
NO ADVISORY OR AGENCY RELATIONSHIP
Dodge & Cox is an investment adviser registered with the U.S. Securities and Exchange Commission (the “SEC”). Nothing contained on the Site or in these Terms of Use is intended to create, and shall not be construed as creating, an investment advisory, agency, joint venture, partnership, or fiduciary relationship between Dodge & Cox and any user of the Site. Use of the Site does not constitute the provision of investment advice or any other professional service by Dodge & Cox to you. Registration with the SEC does not imply that an investment adviser has a certain level of skill or training, and neither the Site nor any Materials have been approved or verified by the SEC or by any state securities authority.
ACCOUNT SECURITY
The Site may require you to register for an account and create login credentials, including a username and password. You are solely responsible for maintaining the confidentiality and security of your login credentials and for all activities that occur under your account. You agree to (a) create only one account for your personal use, (b) provide accurate, current, and complete information during registration, (c) promptly notify Dodge & Cox at website@dodgeandcox.com if you become aware of any unauthorized access to or use of your account or any other breach of security, and (d) ensure that you log out of your account at the end of each session. Dodge & Cox shall not be liable for any loss or damage arising from your failure to comply with the foregoing obligations. Dodge & Cox reserves the right, in its sole discretion and without prior notice, to suspend, disable, or terminate your account or access to any password-protected portions of the Site at any time and for any reason, including if Dodge & Cox reasonably believes that your account has been compromised or that you have violated these Terms of Use. Further, access to these areas of the Site or webpages hosted by a Dodge & Cox service provider may be subject to additional terms and conditions.
MISCELLANEOUS
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 failure of Dodge & Cox to exercise or enforce any right or provision of these Terms of Use shall not constitute a waiver of such right or provision. You may not assign or transfer these Terms of Use or any of your rights or obligations hereunder without the prior written consent of Dodge & Cox. Dodge & Cox may assign these Terms of Use without restriction. The preceding Terms of Use represent the entire agreement between Dodge & Cox and the user relating to use of the Site, excluding any separate written agreement between you and Dodge & Cox or any fund managed by Dodge & Cox.
Under California Civil Code Section 1789.3, California residents who use this website are entitled to the following consumer rights notice:
The provider of this website is Dodge & Cox, 555 California Street, 40th Floor, San Francisco, CA 94104. No fee is charged to access or use this website. If you have a question or complaint regarding this website, please contact us at privacy@dodgeandcox.com. California residents may also contact the Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs in writing at 1625 North Market Blvd., Suite N 112, Sacramento, CA 95834, or by telephone at (800) 952-5210.
Terms of Use as of: September 2026
Estimated year-end income and capital gains distributions as of October 31st will be available mid-November.
The Emerging Markets Stock Fund marks its 5-year anniversary. Learn more about our approach and the Fund.
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Dodge & Cox does not provide legal or tax advice and the information provided herein is general in nature and should not be considered legal or tax advice. Consult an attorney, tax professional, or other advisor regarding your specific legal or tax situation.