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Davis Opportunity Fund
Overview
Investment Strategy
The goal of the Davis Opportunity Fund is to create an opportunistic portfolio that can seek attractive businesses across all market caps, industries and sectors.
Using our signature Davis Investment Discipline, the Fund has outperformed the S&P 1500® Index since Davis began managing the Fund.1 Click here to learn more about our long-term returns.
Why Invest in the Davis Opportunity Fund
Sixty Years of Experience
The Davis family has compounded wealth for investors over six decades and three generations.
Long-Term Investment Results
The Fund has outperformed the S&P 1500® Index since Davis began managing the Fund. A hypothetical $10,000 investment in the Fund on January 1, 1999 compounded to over $49,821 as of March 31, 2019 vs. only $36,390 for the Russell 3000® Index.1
Aligned 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.2
Lower than Average Expense Ratio3
Davis Opportunity Fund A, 0.94%; Lipper category average, 1.02%
Lower than Average Turnover Rate3
Davis Opportunity Fund, 44%; Lipper category average, 65%
Performance as of 3/31/19
A hypothetical $10,000 investment in the Davis Opportunity Fund on 1/1/99 compounded to $49,821 by March 31, 2019 vs. only $36,390 for the S&P 1500® Index.
| Total Returns as of March 31, 2019 |
1 Year |
5 Years |
10 Years |
|---|---|---|---|
|
Davis Opportunity Fund Class A Shares with a maximum 4.75% sales charge |
-6.93% | 6.39% | 14.40% |
The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor’s shares may be worth more or less than their original cost. The total annual operating expense ratio for Class A shares as of the most recent prospectus was 0.94%. The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Current performance may be higher or lower than the performance quoted. For most recent month-end performance, click here or call 800.279.0279.
Portfolio Characteristics as of 3/31/19
Market Capitalization
| Small Cap | 15.3% |
| Mid Cap | 5.1% |
| Large Cap | 79.6% |
Portfolio Composition
| Opportunity Fund | S&P 1500® | |
|---|---|---|
| Forecast P/E Ratio | 15.0 | 17.1 |
| P/B Ratio | 2.2 | 3.7 |
| Weighted Average Market Cap ($bn) | 167.0 | 203.3 |
| Beta (3 year) | 1.1 | 1.0 |
| Standard Deviation (5 year, A shares) | 13.2 | 11.3 |
| Number of Holdings | 46 | 1,506 |
Turnover and Expenses
| Opportunity Fund | Lipper Category Average | |
|---|---|---|
| Turnover Rate3 | 44% | 65% |
| Expense Ratio3 (A Shares) | 0.94% | 1.02% |
Top 10 Holdings
| Alphabet Inc., Class C | 5.8% |
| United Technologies Corp. | 5.6% |
| Apache Corp. | 5.6% |
| Quest Diagnostics Inc. | 5.0% |
| Grab Holdings Inc. | 4.8% |
| Wells Fargo & Co. | 4.7% |
| Magnolia Oil & Gas Corp., Class A | 4.2% |
| Amazon.com, Inc. | 4.2% |
| Johnson Controls International plc | 4.0% |
| Didi Chuxing Joint Co. | 4.0% |
Top 5 Industries
| Capital Goods | 18.4% |
| Energy | 15.2% |
| Information Technology | 10.6% |
| Retailing | 9.9% |
| Transportation | 9.5% |
Literature
| Fact Sheets | ||
|---|---|---|
| Fund Fact Sheet | Download Share | How the Fund applies the Davis Investment Discipline to companies of various market capitalizations, Portfolio characteristics, top holdings, and performance. |
| Portfolio Composition | Download Share | Quarterly update of portfolio characteristics. |
| Portfolio Manager Commentary | ||
| Manager Commentary - Annual Review 2019 | Download View Share | The Fund research team discusses the Portfolio, performance and how they apply the Davis Investment Discipline to uncover opportunities in the current environment. |
This material must be accompanied or preceded by a current Davis Opportunity 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.
1Class A shares, not including a sales charge. Davis began managing the fund on 1/1/99. Past performance is not a guarantee of future results.
2As of December 31, 2018. This includes Davis Advisors, the Davis family and Foundation, our employees, and Fund Directors.
3See Expense ratio/Turnover link below.
(17) Read here for objective/risk disclosures
(19) Read here for Expense ratio/Turnover disclosures
Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756