Davis Advisors Firm Update
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Prospectuses and Forms
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Before investing in the Davis Funds, you should carefully consider the investment objectives, risks, charges, and expenses of the Funds. The prospectus and summary prospectus contains this and other information about the Funds. You can obtain performance information and a current prospectus and summary prospectus by visiting davisfunds.com or calling 800 279 0279. Please read the prospectus or summary prospectus carefully before investing or sending money. Investing involves risks including possible loss of principal.
This video includes candid statements and observations regarding investment strategies, individual securities, and economic and market conditions; however, there is no guarantee that these statements, opinions or forecasts will prove to be correct. These comments may also include the expression of opinions that are speculative in nature and should not be relied on as statements of fact.
Past performance is not a guarantee of future results. Equity markets are volatile and an investor may lose money.
Davis Advisors is committed to communicating with our investment partners as candidly as possible because we believe our investors benefit from understanding our investment philosophy and approach. Our views and opinions include “forward-looking statements” which may or may not be accurate over the long term. Forward-looking statements can be identified by words like “believe,” “expect,” “anticipate,” or similar expressions. You should not place undue reliance on forward-looking statements, which are current as of the date of this report. We disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events, or otherwise. While we believe we have a reasonable basis for our appraisals and we have confidence in our opinions, actual results may differ materially from those we anticipate.
Objective and Risks. The investment objective of Davis New York Venture Fund, Davis Financial Fund, Davis Global Fund, and Davis International Fund is long-term growth of capital. There can be no assurance that a Fund will achieve its objective.
Some important risks of an investment in the Davis New York Venture Fund are: stock market risk, common stock risk, financial services risk, foreign country risk, headline risk, large-capitalization companies risk, manager risk, depositary receipts risk, emerging market risk, fees and expenses risk, foreign currency risk, and mid- and small-capitalization companies risk.
Some important risks of an investment in the Davis Financial Fund are: stock market risk, common stock risk, financial services risk, credit risk, interest rate sensitivity risk, focused portfolio risk, headline risk, foreign country risk, large-capitalization companies risk, manager risk, depositary receipts risk, fees and expenses risk, foreign currency risk, emerging market risk, and mid- and small-capitalization companies risk.
Some important risks of an investment in the Davis Global Fund and Davis International Fund are: stock market risk, common stock risk, foreign country risk, headline risk, depositary receipts risk, foreign currency risk, exposure to industry or sector risk, emerging market risk, large-capitalization companies risk, manager risk, fees and expenses risk, and mid- and small-capitalization companies risk.
See the prospectus for a complete description of the principal risks.
The information provided in this material should not be considered a recommendation to buy, sell or hold any particular security.
As of September 30, 2020, the top ten holdings of Davis New York Venture Fund were: Alphabet Inc., 8.49%; Berkshire Hathaway Inc., 6.09%; Amazon.com, Inc., 6.03%; Capital One Financial Corp., 5.94%; Facebook Inc, 5.62%; New Oriental Education & Tech, 5.43%; Applied Materials, Inc., 5.08%; Alibaba Group Holding Ltd., 5.00%; Wells Fargo & Co., 4.74%; and Intel Corp., 4.11%.
As of September 30, 2020, the top ten holdings of Davis Financial Fund were: Capital One Financial Corp., 9.41%; JPMorgan Chase & Co., 7.60%; Berkshire Hathaway Inc., 7.41%; U.S. Bancorp, 6.39%; American Express Co., 6.37%; Markel Corp., 6.28%; Bank of New York Mellon Corp., 5.73%; Bank of America Corp., 5.54%; PNC Financial Services Group, Inc., 5.05%; and Wells Fargo & Co., 4.92%.
As of September 30, 2020, the top ten holdings of Davis Global Fund were: Alibaba Group Holding Ltd., 8.08%; New Oriental Education & Tech, 5.93%; JD.com Inc., 5.68%; Alphabet Inc., 5.62%; Capital One Financial Corp., 5.20%; Missfresh, Ltd., 5.19%; Wells Fargo & Co., 4.75%; Applied Materials, Inc., 4.53%; Meituan Dianping, 4.50%; and AIA Group Ltd., 4.00%.
As of September 30, 2020, the top ten holdings of Davis International Fund were: New Oriental Education & Tech, 10.89%; JD.com Inc., 9.77%; Alibaba Group Holding Ltd., 9.55%; Naspers Ltd., 4.71%; AIA Group Ltd., 4.59%; DBS Group Holdings Ltd., 4.57%; Missfresh, Ltd., 4.56%; Schneider Electric, 4.55%; Danske Bank, and 4.48%; DNB ASA, 4.37%.
Davis Funds has adopted a Portfolio Holdings Disclosure policy that governs the release of non-public portfolio holding information. This policy is described in the prospectus. Holding percentages are subject to change. Visit davisfunds.com or call 800 279 0279 for the most current public portfolio holdings information.
Shares of the Davis Funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested.
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