Davis Global Fund


    The Fund

    Davis Global Fund is a portfolio of attractive businesses from around the world, selected using the time-tested Davis Investment Discipline. 

    The Fund has outperformed the index since its inception in 2004 and has lower than average expenses. 

    Davis is the largest shareholder of the Fund.

    Why Invest in the Davis Global Fund

    • A Portfolio of Well-Researched Businesses from Around the Globe: Companies with attractive long term growth prospects, from the U.S. & abroad, in both developed and developing markets
    • Signature Davis Investment Discipline: Utilizes a time-tested strategy that has successfully compounded wealth for more than 45 years, in both U.S. and non-U.S markets. Focuses on identifying attractive businesses with sustainable competitive advantages and experienced managements, selling at a discount to their true value.
    • Attractive Results: Outperformed the MSCI ACWI® Index since inception (12/22/04).1 
    • A Flexible, Opportunistic Approach: We believe that a bottom-up stock selection process, and not mirroring the benchmark, are keys to long-term outperformance. 
    • Invested Side-by-Side with Shareholders: We are the largest shareholder of the Fund. Portfolio managers are compensated primarily in shares of the Fund based on long-term performance vs. the benchmark.3
    • Lower than Average Expense Ratio4
      Davis Global Fund A, 0.97%; Lipper category average, 1.93%

    Performance as of 12/31/16

    The Davis Global Fund has outperformed the MSCI ACWI® Index since inception (12/22/04).1

    Total Returns
    as of December 31, 2016
    Davis Global Fund Class A shares
    without a sales charge
    10.31% 5.10% 12.49% 4.33% 7.21%
    with a maximum 4.75% sales charge 5.07% 3.41% 11.40% 3.82% 6.78%
    MSCI ACWI® Index 7.86% 3.13% 9.36% 3.56% 5.61%

    The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor’s shares may be worth more or less than their original cost. The Fund is subject to a 2% short-term redemption fee for shares held for fewer than 30 days. The total annual operating expense ratio for Class A shares as of the most recent prospectus was 0.97%. The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Current performance may be higher or lower than the performance quoted. For most recent month-end performance, click here or call 800.279.0279.

    Portfolio Characteristics as of 12/31/16

    Top 10 Industries

    Global Fund MSCI ACWI® Index
    Retailing 17.2% 3.6%
    Information Technology 14.9% 15.5%
    Energy 13.2% 7.4%
    Banks 8.4% 10.5%
    Diversified Financials 7.0% 4.1%
    Capital Goods 6.2% 7.6%
    Media 5.7% 2.4%
    Automobiles & Components 4.2% 2.6%
    Transportation 3.9% 2.1%
    Materials 3.1% 5.3%

    Geographical Diversification

    United States 54.8%
    Asia 25.1%
    North America Ex U.S. 8.8%
    Europe 4.5%
    Africa 3.9%
    South America 2.9%

    Portfolio Composition

    Global Fund MSCI ACWI® Index
    Number of Holdings 55 2,485
    Median Market Cap ($bn) 10.9 8.5
    Weighted Average Market Cap ($bn) 125.1 97.1
    Forecast P/E Ratio 12.8 16.8

    Top 10 Holdings

    Alphabet Inc. United States Dominant global on-line search and advertising company 6.7%
    Encana Corp. Canada Canadian-based energy exploration and production company with properties in Canada and the U.S. 5.7%
    Wells Fargo & Co. United States One of the largest banks in the U.S. 5.2%
    Amazon.com, Inc. United States An e-commerce giant within the retail industry 4.8%
    Apache Corp. United States An oil and natural gas exploration and production company with interests in the U.S. and abroad 4.5%
    Berkshire Hathaway Inc., Class B United States A diversified holding company with interests in insurance, reinsurance, railroads, utilities, manufacturing, retailing, and a host of other business lines 4.4%
    Naspers, Class N South Africa A media conglomerate that operates a leading pay television business in South and Sub-Saharan Africa and holds interests in a range of e-commerce businesses around the world 3.6%
    Adient PLC United States A major supplier of seating systems and components to the automotive industry 3.4%
    Didi Chuxing Joint Co., Series A China The largest mobile platform taxi-calling app in China 3.3%
    JPMorgan Chase & Co. United States A major diversified bank with offering private banking, investment banking, credit cards and loans, and asset management services 3.2%

    Click here for month-end holdings.
    Click here for quarter-end holdings.


    Fact Sheets
    Fund Fact Sheet Download

    Applying the Davis Investment Discipline to companies within the United States and around the globe; Portfolio characteristics, top holdings, and performance.

    Portfolio Composition Download

    Quarterly update of portfolio characteristics.

    Portfolio Manager Commentaries
    Manager Commentary - Annual Review 2017 Download View

    The Fund research team discusses the Portfolio, performance and how they apply the Davis Investment Discipline to uncover opportunities around the globe.

    Insights into the Fund
    FA Magazine: Davis Global Fund in the Spotlight Download

    Davis Global Fund PM Danton Goei on keys to building wealth through an unconstrained search for opportunity

    Barron’s: For Davis Global, Patience Pays View

    Davis Global Fund PM on the investment discipline responsible for the track record of this wide-ranging fund, with specific company examples

    Highlights from a Recent Investor Conference Download

    PM Danton Goei on what has driven the outperformance of the Davis Global Fund,^^ where we are finding opportunity and how investors use in their allocation.

    Barron’s: Davis Global Fund and the bargains in US & Asia View Danton Goei, PM of Davis Global Fund on identifying compelling businesses in the US and around the world – and 5 top examples
    Investing in Global Equities Download How we identify best-of-breed businesses around the globe and the factors which created our benchmark-beating performance.
    Davis Global:
    Ways Investors Use the Fund
    Download How investors use Davis Global Fund to pursue specific portfolio objectives

    This material must be accompanied or preceded by a current Davis Global Fund Prospectus. You should carefully consider the Fund’s investment objective, risks, charges, and expenses before investing. The prospectus contains this and other information and can be obtained by clicking here or calling 800.279.0279. Read the prospectus carefully before you invest or send money.

    1 Class A shares without a sales charge. Past performance is not a guarantee of future results.

3 As of December 31, 2016.

4 See Expense ratio/Turnover link below.

    ^^ Class A shares without a sales charge. Past performance is not a guarantee of future results.

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