<PAGE>
PAGE 1
000 A000000 06/30/97
000 C000000 0000029440
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 DODGE & COX BALANCED FUND
001 B000000 811-000173
001 C000000 4159811710
002 A000000 ONE SANSOME STREET, 35TH FLOOR
002 B000000 SAN FRANCISCO
002 C000000 CA
002 D010000 94104
002 D020000 4443
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
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007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 MORGAN STANLEY & COMPANY
020 B000001 13-2655998
020 C000001 172
020 A000002 GOLDMAN SACHS & COMPANY
020 B000002 13-5108880
020 C000002 122
020 A000003 BEAR STEARNS & COMPANY
020 B000003 13-3299429
020 C000003 103
020 A000004 SMITH BARNEY, INC.
020 B000004 13-1912900
020 C000004 52
020 A000005 LEHMAN BROTHERS, INC.
020 B000005 13-2518466
020 C000005 51
020 A000006 DONALDSON LUFKIN & JENRETTE SEC. CORP.
020 B000006 13-2741729
020 C000006 46
<PAGE>
PAGE 2
020 A000007 SANFORD C. BERNSTEIN & CO., INC.
020 B000007 13-2625874
020 C000007 43
020 A000008 NATWEST SECURITIES CORP.
020 B000008 13-3312778
020 C000008 39
020 A000009 SALOMON BROTHERS, INC.
020 B000009 13-3082694
020 C000009 35
020 A000010 UBS SECURITIES LLC.
020 B000010 13-2932996
020 C000010 28
021 000000 917
022 A000001 FIRSTAR TRUST COMPANY
022 B000001 39-0281260
022 C000001 2941340
022 D000001 0
022 A000002 HSBC SECURITIES
022 B000002 13-2650272
022 C000002 104611
022 D000002 106596
022 A000003 MORGAN STANLEY & COMPANY, INC.
022 B000003 13-2655998
022 C000003 148349
022 D000003 52652
022 A000004 SMITH BARNEY INC.
022 B000004 13-1912900
022 C000004 151100
022 D000004 41873
022 A000005 MERRILL LYNCH PIERCE FENNER & SMITH, INC.
022 B000005 13-5674085
022 C000005 139411
022 D000005 38560
022 A000006 UBS SECURITIES LLC
022 B000006 13-2932996
022 C000006 70764
022 D000006 0
022 A000007 BEAR STEARNS & COMPANY
022 B000007 13-3299429
022 C000007 61868
022 D000007 0
022 A000008 LEHMAN BROTHERS, INC.
022 B000008 13-2518466
022 C000008 17538
022 D000008 7590
022 A000009 GOLDMAN SACHS & COMPANY
022 B000009 13-5108880
022 C000009 21024
022 D000009 2957
022 A000010 FREEMAN SECURITIES COMPANY, INC.
022 B000010 13-2662313
<PAGE>
PAGE 3
022 C000010 21672
022 D000010 0
023 C000000 3775641
023 D000000 250228
024 000000 N
025 A000001 DELETE
025 D000001 0
025 D000002 0
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025 D000008 0
028 A010000 214948
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028 B010000 132011
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028 B040000 48825
028 C010000 130527
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028 F010000 164669
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028 F040000 59223
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028 G020000 81739
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054 A000000 Y
054 B000000 N
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
<PAGE>
PAGE 4
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 Y
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
<PAGE>
PAGE 5
070 M010000 Y
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 1341429
071 B000000 529309
071 C000000 3906453
071 D000000 14
072 A000000 6
072 B000000 60552
072 C000000 22257
072 D000000 0
072 E000000 0
072 F000000 10265
072 G000000 0
072 H000000 0
072 I000000 407
072 J000000 187
072 K000000 37
072 L000000 86
072 M000000 7
072 N000000 301
072 O000000 0
072 P000000 0
072 Q000000 72
072 R000000 16
072 S000000 1
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 47
072 X000000 11426
072 Y000000 0
072 Z000000 71383
072AA000000 112688
072BB000000 3586
072CC010000 308368
072CC020000 0
072DD010000 70207
072DD020000 0
072EE000000 14502
073 A010000 1.0400
073 A020000 0.0000
<PAGE>
PAGE 6
073 B000000 0.2200
073 C000000 0.0000
074 A000000 16226
074 B000000 0
074 C000000 161350
074 D000000 1813565
074 E000000 3375
074 F000000 2704673
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 2445
074 K000000 0
074 L000000 27880
074 M000000 269
074 N000000 4729783
074 O000000 12387
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 7425
074 S000000 0
074 T000000 4709971
074 U010000 71602
074 U020000 0
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078 000000 N
SIGNATURE W. TIMOTHY RYAN
TITLE SECRETARY
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Dodge &
Cox Balanced Fund Semi-Annual Report dated June 30, 1997, and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 3,884,656,956
<INVESTMENTS-AT-VALUE> 4,682,962,813
<RECEIVABLES> 30,325,379
<ASSETS-OTHER> 269,447
<OTHER-ITEMS-ASSETS> 16,225,750
<TOTAL-ASSETS> 4,729,783,389
<PAYABLE-FOR-SECURITIES> 12,387,398
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,424,987
<TOTAL-LIABILITIES> 19,812,385
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,800,796,914
<SHARES-COMMON-STOCK> 71,601,926
<SHARES-COMMON-PRIOR> 60,681,531
<ACCUMULATED-NII-CURRENT> 1,766,263
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 109,101,970
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 798,305,857
<NET-ASSETS> 4,709,971,004
<DIVIDEND-INCOME> 22,257,224
<INTEREST-INCOME> 60,551,787
<OTHER-INCOME> 0
<EXPENSES-NET> 11,426,055
<NET-INVESTMENT-INCOME> 71,382,956
<REALIZED-GAINS-CURRENT> 109,101,970
<APPREC-INCREASE-CURRENT> 308,368,285
<NET-CHANGE-FROM-OPS> 488,853,211
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 70,206,661
<DISTRIBUTIONS-OF-GAINS> 14,501,695
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,379,771
<NUMBER-OF-SHARES-REDEEMED> 5,766,787
<SHARES-REINVESTED> 1,307,411
<NET-CHANGE-IN-ASSETS> 1,080,144,115
<ACCUMULATED-NII-PRIOR> 589,968
<ACCUMULATED-GAINS-PRIOR> 14,501,695
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,264,929
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 11,426,055
<AVERAGE-NET-ASSETS> 4,109,166,455
<PER-SHARE-NAV-BEGIN> 59.82
<PER-SHARE-NII> 1.05
<PER-SHARE-GAIN-APPREC> 6.17
<PER-SHARE-DIVIDEND> 1.04
<PER-SHARE-DISTRIBUTIONS> .22
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 65.78
<EXPENSE-RATIO> 0.56<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>ANNUALIZED
</FN>
</TABLE>
