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Dodge and Cox Stock Fund highlights KKR amid AI disruption concerns
The fund reported Class A shares gained 5.6% in Q2 2026, while KKR closed at $97.11 on July 21, 2026.
Dodge and Cox Stock Fund used its second-quarter 2026 investor letter to discuss KKR & Co. and broader market conditions, noting that volatile oil prices and rising inflation coincided with record U.S. equity highs in Q2 2026. According to the letter, the fund’s Class A shares returned 5.57% in the quarter, versus 15.20% for the S&P 500 Index and 13.84% for the Russell 1000 Value Index. The fund attributed the underperformance mainly to being underweight in Information Technology and to weak results from several holdings, saying concerns about AI disruption weighed on companies with strong franchises.
The investor letter also described the fund’s positioning approach, saying it uses a bottom-up process to add exposure to industry leaders whose long-term fundamentals it believes are not fully reflected in current prices. It said it initiated a position in KKR as part of that effort, alongside new positions in other industry leaders.
The article cited market figures for KKR, saying the stock closed at $97.11 per share on July 21, 2026, for a market capitalization of $90.55 billion. It added that KKR returned 6.12% over one month and fell 34.50% over the past 52 weeks, while noting the shares declined amid broader macroeconomic concerns.
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