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SUPPLEMENT TO THE STATEMENT OF
ADDITIONAL INFORMATION
STATEMENT OF ADDITIONAL INFORMATION
DATED MARCH 13, 1996
DODGE & COX BALANCED FUND
DODGE & COX STOCK FUND
DODGE & COX INCOME FUND
The Statement of Additional Information for the above Funds are hereby
supplemented by adding the following language at the end of the fourth paragraph
(Balanced Fund), third paragraph (Stock Fund), and fifth paragraph (Income Fund)
in the section entitled "PERFORMANCE INFORMATION":
From time to time, the Fund and the manager may also refer to the following
information:
1. Portfolio information, including median market capitalization, price to
earnings ratio, price to book value, average bond quality, average bond
maturity, and effective bond duration.
2. The asset allocation and sector weightings of the Fund's portfolio and
the Fund's top ten holdings.
3. A description of the Dodge & Cox investment management philosophy and
approach.
October 18, 1996
