State of Michigan 401(k) and 457 Plans

Dodge & Cox Stock Fund Class X

Manager: Dodge & Cox

Category: Stock

Objective: Provide long-term growth of principal and income.

Strategy: The Fund intends to remain fully invested in equities, with at least 65% of assets in common stocks. The Fund seeks companies with financial strength and a sound economic background. Purchases are made on a long-term basis; the Fund does not normally engage in short-term trading. The Fund may also purchase preferred stocks and debt securities convertible into common stocks. Up to 20% of the fund’s assets may be invested in U.S. dollar-denominated securities of foreign issuers traded in the U.S.

Note: The Dodge & Cox Stock Portfolio fund structure was modified from a separate account to a mutual fund on Sept. 15, 2023. The performance information reflects the separate account returns through Sept. 14, 2023, and the mutual fund account performance for Sept. 15-30, 2023.

Fund fact sheet