Tax Information

This information on 2016 distributions is intended for existing shareholders.

As large shareholders ourselves, we are conscious of tax costs and make every effort to be tax efficient.

Capital gains result from appreciation in the portfolio.  The funds’ long-term investment approach means that this appreciation may have occurred over an extended period of time. The majority of the gains are long-term and generally subject to lower tax rates than short-term gains or dividend income.

 

2016 Davis New York Venture Fund Dividend Distribution Information
(updated as of 12/13/16)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Short-term Capital Gain Long-term Capital Gain
Class A 6/30/2016 7/1/2016 7/5/2016 100% 0.073 - 28.65 - 2.00
12/12/2016 12/13/2016 12/14/2016 100% 0.169 - 31.11 - 1.68
Class B 6/30/2016 7/1/2016 7/5/2016 100% - - 25.87 - 2.00
12/12/2016 12/13/2016 12/14/2016 100% 0.013 - 27.94 - 1.68
Class C 6/30/2016 7/1/2016 7/5/2016 100% - - 26.48 - 2.00
12/12/2016 12/13/2016 12/14/2016 100% 0.0485 - 28.63 - 1.68
Class Y 6/30/2016 7/1/2016 7/5/2016 100% 0.115 - 29.19 - 2.00
12/12/2016 12/13/2016 12/14/2016 100% 0.216 - 31.73 - 1.68
Class R 6/30/2016 7/1/2016 7/5/2016 100% 0.03 - 28.76 - 2.00
12/12/2016 12/13/2016 12/14/2016 100% 0.128 - 31.24 - 1.68

  • Shareholders should not use this information for tax reporting purposes. Form 1099 will be sent at a later date for all tax reporting.
  • The table above includes the percentage of 2016 dividend and net short-term capital gain distributions, by fund, that are eligible for reduced tax rates as "qualified dividend income" (QDI). QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who do not receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2016 year-end account statement. Individual questions should be referred to your tax advisor.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis International Fund Dividend Distribution Information
(updated as of 1/11/17)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Foreign Tax Credit Short-
term Capital Gain
Long-
term Capital Gain
Class A 12/12/2016 12/13/2016 12/14/2016 100% 0.01073 - 9.77 0.00773 0.013 -
Class B 12/12/2016 12/13/2016 12/14/2016 100% - - 9.24 - 0.013 -
Class C 12/12/2016 12/13/2016 12/14/2016 100% - - 9.27 - 0.013 -
Class Y 12/12/2016 12/13/2016 12/14/2016 100% 0.03474 - 9.64 0.00774 0.013 -

  • Shareholders should not use this information for tax reporting purposes. Form 1099 will be sent at a later date for all tax reporting.
  • The table above includes the percentage of 2016 dividend and net short-term capital gain distributions, by fund, that are eligible for reduced tax rates as "qualified dividend income" (QDI). QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who do not receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2016 year-end account statement. Individual questions should be referred to your tax advisor.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis Global Fund Dividend Distribution Information
(updated as of 12/13/16)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Foreign Tax Credit Short-
term Capital Gain
Long-
term Capital Gain
Class A 12/12/2016 12/13/2016 12/14/2016 - - - - - - -
Class B 12/12/2016 12/13/2016 12/14/2016 - - - - - - -
Class C 12/12/2016 12/13/2016 12/14/2016 - - - - - - -
Class Y 12/12/2016 12/13/2016 12/14/2016 - - - - - - -

  • Shareholders should not use this information for tax reporting purposes. Form 1099 will be sent at a later date for all tax reporting.
  • The table above includes the percentage of 2016 dividend and net short-term capital gain distributions, by fund, that are eligible for reduced tax rates as "qualified dividend income" (QDI). QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who do not receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2016 year-end account statement. Individual questions should be referred to your tax advisor.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis Opportunity Fund Dividend Distribution Information
(updated as of 1/11/17)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Short-term Capital Gain Long-term Capital Gain
Class A 12/12/2016 12/13/2016 12/14/2016 47.11% - - 31.53 0.205 0.55
Class B 12/12/2016 12/13/2016 12/14/2016 47.11% - - 24.00 0.205 0.55
Class C 12/12/2016 12/13/2016 12/14/2016 47.11% - - 26.19 0.205 0.55
Class Y 12/12/2016 12/13/2016 12/14/2016 47.11% - - 32.97 0.205 0.55

  • Shareholders should not use this information for tax reporting purposes. Form 1099 will be sent at a later date for all tax reporting.
  • The table above includes the percentage of 2016 dividend and net short-term capital gain distributions, by fund, that are eligible for reduced tax rates as "qualified dividend income" (QDI). QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who do not receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2016 year-end account statement. Individual questions should be referred to your tax advisor.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis Financial Fund Dividend Distribution Information
(updated as of 12/13/16)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Short-term Capital Gain Long-term Capital Gain
Class A 12/12/2016 12/13/2016 12/14/2016 100% 0.29 - 44.97 - 0.46
Class B 12/12/2016 12/13/2016 12/14/2016 - - - 36.02 - 0.46
Class C 12/12/2016 12/13/2016 12/14/2016 - - - 37.79 - 0.46
Class Y 12/12/2016 12/13/2016 12/14/2016 100% 0.375 - 46.28 - 0.46

  • Shareholders should not use this information for tax reporting purposes. Form 1099 will be sent at a later date for all tax reporting.
  • The table above includes the percentage of 2016 dividend and net short-term capital gain distributions, by fund, that are eligible for reduced tax rates as "qualified dividend income" (QDI). QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who do not receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2016 year-end account statement. Individual questions should be referred to your tax advisor.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis Real Estate Fund Dividend Distribution Information
(updated as of 1/11/2017)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Short-term Capital Gain Long-term Capital Gain
Class A 3/31/2016 4/1/2016 4/4/2016 9.64% 0.11 - 37.92 - -
6/30/2016 7/1/2016 7/5/2016 9.64% 0.11 - 40.67 - -
9/30/2016 10/3/2016 10/4/2016 9.64% 0.11 - 39.51 - -
12/27/2016 12/28/2016 12/29/2016 9.64% 0.295 - 37.99 - -
Class B 3/31/2016 4/1/2016 4/4/2016 9.64% 0.013 - 37.42 - -
6/30/2016 7/1/2016 7/5/2016 9.64% 0.0085 - 40.13 - -
9/30/2016 10/3/2016 10/4/2016 9.64% - - - - -
12/27/2016 12/28/2016 12/29/2016 9.64% 0.193 - 37.47 - -
Class C 3/31/2016 4/1/2016 4/4/2016 9.64% 0.034 - 37.92 - -
6/30/2016 7/1/2016 7/5/2016 9.64% 0.023 - 40.66 - -
9/30/2016 10/3/2016 10/4/2016 9.64% 0.019 - 39.5 - -
12/27/2016 12/28/2016 12/29/2016 9.64% 0.213 - 37.98 - -
Class Y 3/31/2016 4/1/2016 4/4/2016 9.64% 0.1275 - 38.43 - -
6/30/2016 7/1/2016 7/5/2016 9.64% 0.133 - 41.21 - -
9/30/2016 10/3/2016 10/4/2016 9.64% 0.133 - 40.03 - -
12/27/2016 12/28/2016 12/29/2016 9.64% 0.3197 - 38.49 - -


  • Shareholders should not use this information for tax reporting purposes. Form 1099 will be sent at a later date for all tax reporting.
  • The table above includes the percentage of 2016 dividend and net short-term capital gain distributions, by fund, that are eligible for reduced tax rates as "qualified dividend income" (QDI). QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who do not receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2016 year-end account statement. Individual questions should be referred to your tax advisor.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis Appreciation and Income Fund Dividend Distribution Information
(updated as of 1/11/2017)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Short-term Capital Gain Long-term Capital Gain
Class A 3/31/2016 4/1/2016 4/4/2016 100% 0.08 - 31.74 - -
6/30/2016 7/1/2016 7/5/2016 100% 0.08 - 32.50 - -
9/30/2016 10/3/2016 10/4/2016 100% 0.08 - 33.61 - -
12/27/2016 12/28/2016 12/29/2016 100% 0.1362 - 34.62 - -
Class B 3/31/2016 4/1/2016 4/4/2016 100% - - - - -
6/30/2016 7/1/2016 7/5/2016 100% - - - - -
9/30/2016 10/3/2016 10/4/2016 100% - - - - -
12/27/2016 12/28/2016 12/29/2016 100% 0.056 - 34.15 - -
Class C 3/31/2016 4/1/2016 4/4/2016 100% 0.017 - 31.86 - -
6/30/2016 7/1/2016 7/5/2016 100% 0.006 - 32.62 - -
9/30/2016 10/3/2016 10/4/2016 100% 0.009 - 33.73 - -
12/27/2016 12/28/2016 12/29/2016 100% 0.0785 - 34.75 - -
Class Y 3/31/2016 4/1/2016 4/4/2016 100% 0.0945 - 31.88 - -
6/30/2016 7/1/2016 7/5/2016 100% 0.0925 - 32.64 - -
9/30/2016 10/3/2016 10/4/2016 100% 0.097 - 33.76 - -
12/27/2016 12/28/2016 12/29/2016 100% 0.1685 - 34.77 - -


Percentage of Income from U.S. Government Obligations

  • Shareholders should not use this information for tax reporting purposes. Form 1099 will be sent at a later date for all tax reporting.
  • The table above includes the percentage of 2016 dividend and net short-term capital gain distributions, by fund, that are eligible for reduced tax rates as "qualified dividend income" (QDI). QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who do not receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2016 year-end account statement. Individual questions should be referred to your tax advisor.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis Government Bond Fund Dividend Distribution Information
(updated as of 12/13/16)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Short-term Capital Gain Long-term Capital Gain
Class A 12/12/2016 12/13/2016 12/14/2016 0% Monthly - - - -
Class B 12/12/2016 12/13/2016 12/14/2016 0% Monthly - - - -
Class C 12/12/2016 12/13/2016 12/14/2016 0% Monthly - - - -
Class Y 12/12/2016 12/13/2016 12/14/2016 0% Monthly - - - -

Percentage of Income from U.S. Government Obligations

  • Shareholders should not use this information for tax reporting purposes. Form 1099 will be sent at a later date for all tax reporting.
  • The table above includes the percentage of 2016 dividend and net short-term capital gain distributions, by fund, that are eligible for reduced tax rates as "qualified dividend income" (QDI). QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who do not receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2016 year-end account statement. Individual questions should be referred to your tax advisor.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis Value Portfolio Variable Annuity Distribution Information
(updated as of 2/17/17)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Short-term Capital Gain Long-term Capital Gain
Value Portfolio 12/27/2016 12/28/2016 12/29/2016 56.58% 0.129 - 9.16 0.145 1.40

  • This information on 2016 distributions is intended for existing shareholders.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis Real Estate Variable Annuity Information
(updated as of 2/17/2017)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Short-term Capital Gain Long-term Capital Gain
Real Estate Portfolio 3/31/2016 4/1/2016 4/4/2016 7.86% 0.06 - 14.01 - -
6/30/2016 7/1/2016 7/5/2016 7.86% 0.06 - 15.02 - -
9/30/2016 10/3/2016 10/4/2016 7.86% 0.06 - 14.57 - -
12/27/2016 12/28/2016 12/29/2016 7.86% 0.06 - 14.05 - -


  • This information on 2016 distributions is intended for existing shareholders.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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2016 Davis Financial Portfolio Variable Annuity Distribution Information
(updated as of 2/17/17)

Record Date Ex-Date Payable Date Qualified Dividend Percentage Ordinary Income Return of Capital Reinvest- ment Price Short-term Capital Gain Long-term Capital Gain
Financial Portfolio 12/27/2016 12/28/2016 12/29/2016 100% 0.141 - 14.08 - 1.04


  • This information on 2016 distributions is intended for existing shareholders.

Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.

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Davis Funds 800.279.0279
Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756