Tax Information

This information on 2018 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.

 

2018 Davis New York Venture Fund Distribution Information
(updated as of 12/13/2018)

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 6/26/2018 6/27/2018 6/28/2018 TBD 0.144 TBD 31.24 - 3.30
12/11/2018 12/12/2018 12/13/2018 TBD 0.0296 TBD 25.75 0.025 2.40
Class B 6/26/2018 6/27/2018 6/28/2018 TBD - TBD 27.15 - 3.30
12/11/2018 12/12/2018 12/13/2018 TBD - TBD 21.97 0.025 2.40
Class C 6/26/2018 6/27/2018 6/28/2018 TBD 0.007 TBD 28.07 - 3.30
12/11/2018 12/12/2018 12/13/2018 TBD - TBD 22.82 0.025 2.40
Class Y 6/26/2018 6/27/2018 6/28/2018 TBD 0.19 TBD 31.99 - 3.30
12/11/2018 12/12/2018 12/13/2018 TBD 0.072 TBD 26.42 0.025 2.40
Class R 6/26/2018 6/27/2018 6/28/2018 TBD 0.094 TBD 31.36 - 3.30
12/11/2018 12/12/2018 12/13/2018 TBD - TBD 25.84 0.025 2.40

  • 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 2018 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 2018 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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2018 Davis International Fund Distribution Information
(updated as of 12/13/18)

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 12/11/2018 12/12/2018 12/13/2018 TBD 0.0657 TBD 10.63 TBD 0.047 0.141
Class C 12/11/2018 12/12/2018 12/13/2018 TBD - TBD 9.95 TBD 0.047 0.141
Class Y 12/11/2018 12/12/2018 12/13/2018 TBD 0.107 TBD 10.48 TBD 0.047 0.141

  • 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 2018 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 2018 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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2018 Davis Global Fund Distribution Information
(updated as of 12/13/18)

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 12/11/2018 12/12/2018 12/13/2018 TBD 0.0529 TBD 20.08 TBD 0.213 1.50
Class C 12/11/2018 12/12/2018 12/13/2018 TBD - TBD 18.70 TBD 0.213 1.50
Class Y 12/11/2018 12/12/2018 12/13/2018 TBD 0.12 TBD 20.12 TBD 0.213 1.50

  • 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 2018 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 2018 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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2018 Davis Opportunity Fund Distribution Information
(updated as of 12/13/2018)

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 12/11/2018 12/12/2018 12/13/2018 TBD - TBD 29.52 0.18 3.93
Class C 12/11/2018 12/12/2018 12/13/2018 TBD - TBD 23.27 0.18 3.93
Class Y 12/11/2018 12/12/2018 12/13/2018 TBD - TBD 31.19 0.18 3.93

  • 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 2018 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 2018 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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2018 Davis Financial Fund Distribution Information
(updated as of 12/13/18)

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 12/11/2018 12/12/2018 12/13/2018 TBD 0.5066 TBD 43.90 - 3.26
Class C 12/11/2018 12/12/2018 12/13/2018 TBD 0.0922 TBD 36.08 - 3.26
Class Y 12/11/2018 12/12/2018 12/13/2018 TBD 0.653 TBD 45.30 - 3.26

  • 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 2018 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 2018 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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2018 Davis Real Estate Fund Distribution Information
(updated as of 12/28/18)

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 3/29/2018 4/2/2018 4/3/2018 TBD 0.11 TBD 36.67 - -
6/26/2018 6/27/2018 6/28/2018 TBD 0.11 TBD 40.06 - -
9/28/2018 10/1/2018 10/2/2018 TBD 0.11 TBD 40.20 - -
12/26/2018 12/27/2018 12/28/2018 TBD 0.525 TBD 35.52 0.40 0.90
Class C 3/29/2018 4/2/2018 4/3/2018 TBD 0.031 TBD 36.66 - -
6/26/2018 6/27/2018 6/28/2018 TBD 0.032 TBD 40.05 - -
9/28/2018 10/1/2018 10/2/2018 TBD 0.022 TBD 40.18 - -
12/26/2018 12/27/2018 12/28/2018 TBD 0.441 TBD 35.51 0.40 0.90
Class Y 3/29/2018 4/2/2018 4/3/2018 TBD 0.135 TBD 37.19 - -
6/26/2018 6/27/2018 6/28/2018 TBD 0.139 TBD 40.62 - -
9/28/2018 10/1/2018 10/2/2018 TBD 0.136 TBD 40.76 - -
12/26/2018 12/27/2018 12/28/2018 TBD 0.551 TBD 36.03 0.40 0.90

  • 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 2018 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 2018 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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2018 Davis Appreciation and Income Fund Distribution Information
(updated as of 12/28/18)

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 3/29/2018 4/2/2018 4/3/2018 TBD 0.065 TBD 38.53 - -
6/26/2018 6/27/2018 6/28/2018 TBD 0.090 TBD 39.91 - -
9/28/2018 10/1/2018 10/2/2018 TBD 0.065 TBD 41.37 - -
12/26/2018 12/27/2018 12/28/2018 TBD 0.175 TBD 35.97 - -
Class C 3/29/2018 4/2/2018 4/3/2018 TBD - TBD 38.65 - -
6/26/2018 6/27/2018 6/28/2018 TBD 0.015 TBD 40.05 - -
9/28/2018 10/1/2018 10/2/2018 TBD - TBD 41.48 - -
12/26/2018 12/27/2018 12/28/2018 TBD 0.102 TBD 36.07 - -
Class Y 3/29/2018 4/2/2018 4/3/2018 TBD 0.098 TBD 38.70 - -
6/26/2018 6/27/2018 6/28/2018 TBD 0.125 TBD 40.09 - -
9/28/2018 10/1/2018 10/2/2018 TBD 0.097 TBD 41.55 - -
12/26/2018 12/27/2018 12/28/2018 TBD 0.21 TBD 36.13 - -

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 2018 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 2018 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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2018 Davis Government Bond Fund Distribution Information
(updated as of 12/12/18)

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 12/11/2018 12/12/2018 12/13/2018 - Monthly - - - -
Class C 12/11/2018 12/12/2018 12/13/2018 - Monthly - - - -
Class Y 12/11/2018 12/12/2018 12/13/2018 - Monthly - - - -


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 2018 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 2018 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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2018 Davis Value Portfolio Variable Annuity Distribution Information
(updated as of 12/28/18)

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 12/26/2018 12/27/2018 12/28/2018 TBD 0.09 TBD 6.84 - 1.81

  • This information on 2018 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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2018 Davis Real Estate Variable Annuity Distribution Information
(updated as of 12/28/18)

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 3/29/2018 4/2/2018 4/3/2018 TBD 0.06 TBD 13.68 - -
6/26/2018 6/27/2018 6/28/2018 TBD 0.06 TBD 14.93 - -
9/28/2018 10/1/2018 10/2/2018 TBD 0.06 TBD 14.93 - -
12/26/2018 12/27/2018 12/28/2018 TBD 0.225 TBD 12.94 0.10 0.61

  • This information on 2018 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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2018 Davis Financial Portfolio Variable Annuity Distribution Information
(updated as of 12/28/18)

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 12/26/2018 12/27/2018 12/28/2018 TBD 0.20 TBD 11.42 0.09 1.98

  • This information on 2018 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