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 one of the largest shareholders 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: With more than $2 billion invested in funds and other accounts following the same investment strategy, we experience the same risks and reap the same rewards.3
    • Lower than Average Expense Ratio4
      Davis Global Fund A, 0.98%; Lipper category average, 1.24%

    Performance as of 9/30/18

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

    Total Returns
    as of September 30, 2018
    Davis Global Fund Class A shares
    without a sales charge
    4.00% 15.33% 10.40% 10.02% 8.28%
    with a maximum 4.75% sales charge -0.94% 13.49% 9.34% 9.49% 7.89%
    MSCI ACWI® Index 9.77% 13.40% 8.67% 8.19% 6.82%

    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 0.98%. 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 9/30/18

    Top 10 Industries

    Global Fund MSCI ACWI® Index
    Retailing 24.7% 4.7%
    Media & Entertainment 17.3% 6.0%
    Banks 12.1% 9.4%
    Capital Goods 9.8% 7.4%
    Diversified Financials 8.9% 4.6%
    Consumer Services 6.1% 1.6%
    Information Technology 5.2% 6.7%
    Energy 4.6% 6.7%
    Health Care 2.9% 4.3%
    Automobiles & Components 2.3% 2.1%

    Geographical Diversification

    Asia 39.2%
    United States 37.6%
    Europe 12.4%
    Africa 4.8%
    North & Central America ex US 3.9%
    South America 2.1%

    Portfolio Composition

    Global Fund MSCI ACWI® Index
    Number of Holdings 47 2,790
    Median Market Cap ($bn) 30.0 9.7
    Weighted Average Market Cap ($bn) 183.8 154.5
    Forecast P/E Ratio 13.0 15.8

    Top 10 Holdings

    Alphabet Inc. United States The dominant global online search and advertising company 6.1%
    Alibaba Group Holding Ltd., ADR China The world’s largest and most valuable retailer, with operations in over 200 countries and a dominant position in the e-commerce market 5.5%
    New Oriental Education & Technology China Largest provider of private education services in China 5.1%
    Amazon.com, Inc. United States An e-commerce giant within the retail industry 4.8%
    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 4.7%
    Wells Fargo & Co. United States One of the largest banks in the U.S. 4.4%
    Hollysys Automation Technologies Ltd. China Leading industrial automation company in China 4.2%
    Ferguson PLC United Kingdom Largest U.S. wholesale distributor of plumbing, heating, and water products. 4.1%
    JD.com Inc., Class A, ADR China One of the largest e-commerce businesses in mainland China offering a range of goods such as consumer electronics and appliances 3.9%
    Miss Fresh, Series E China An e-Commerce startup that delivers fresh produce through a subscription service 3.8%

    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.

    A History of Long Term Outperformance Download

    Best ideas from the U.S. and around the world. Outperformed its benchmark over the past decade.^^

    Portfolio Composition Download

    Quarterly update of portfolio characteristics.

    Portfolio Manager Commentaries
    Manager Commentary - Semi-Annual Review 2018 Download View

    Portfolio Manager Danton Goei discusses the Portfolio, performance and how he applies the Davis Investment Discipline to uncover opportunities around the globe.

    Insights into the Fund
    The Case for International Investing View

    The international opportunity, the global investment landscape, investment themes and ways to put these ideas to work today.

    Opportunities in International Equities Today (Whitepaper) Download

    Why international stocks look attractive, why active management beats passive internationally, long term themes driving international returns.

    MarketWatch reprint: Rules for a Best-in-Class Money Manager View

    PM Danton Goei on 3 rules for success and 3 megatrends benefiting the international investor

    Global Market Overview and Investment Themes Download

    Our PMs on global markets and themes presenting the strongest investor opportunities

    The Case for International Investing (Overview) Download

    Top-line review of long term themes driving international returns

    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

    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.

    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 June 30, 2018. This includes Davis Advisors, the Davis family and Foundation, our employees, and Fund Directors.

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