Christopher Davis Davis Selected Advisers
Christopher Davis is chairman of Davis Advisors, a multi-generational investment firm known for research-intensive equity management. The firm’s strategies often emphasize financials and other businesses where long-term ownership and careful accounting analysis matter. Davis is a frequent public commentator on active management and long-horizon investing.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$526M |
| 2 |
Johnson Controls International
JCI
|
+$152M |
| 3 |
DLPH
Delphi Technologies PLC Ordinary Shares
DLPH
|
+$36.6M |
| 4 |
Adient
ADNT
|
+$32M |
| 5 |
Capital One
COF
|
+$28.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PX
Praxair Inc
PX
|
+$376M |
| 2 |
American Express
AXP
|
+$297M |
| 3 |
CarMax
KMX
|
+$290M |
| 4 |
UnitedHealth
UNH
|
+$262M |
| 5 |
Costco
COST
|
+$237M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 40.43% |
| 2 | Consumer Discretionary | 15.09% |
| 3 | Communication Services | 12.83% |
| 4 | Energy | 10.19% |
| 5 | Industrials | 9.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Markel Group
MKL
$22.2B
| $292M | 1.24% |
256,000
-8,054
| -3% | -$8.8M |
|
27
Occidental Petroleum
OXY
$61.3B
| $257M | 1.09% |
3,490,276
-2,742,675
| -44% | -$186M |
|
28
Loews
L
$22.5B
| $237M | 1.01% |
4,731,662
-356,248
| -7% | -$17.6M |
|
29
Aptiv
APTV
$10B
| $212M | 0.9% |
2,496,817
-1,103,631
| -31% | -$105M |
|
30
Chubb
CB
$132B
| $210M | 0.89% |
1,436,856
+1,508
| +0.1% | +$225K |
|
31
Oracle
ORCL
$422B
| $184M | 0.78% |
3,892,317
-32,237
| -0.8% | -$1.58M |
|
|
SFUN
32
DELISTED
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
| $154M | 0.66% |
553,349
+11,583
| +2% | +$2.61M |
|
33
Booking.com
BKNG
$158B
| $122M | 0.52% |
1,753,500
-23,325
| -1% | -$1.69M |
|
34
JD.com
JD
$39.7B
| $103M | 0.44% |
2,480,374
+54,838
| +2% | +$2.16M |
|
35
New Oriental
EDU
$8.88B
| $101M | 0.43% |
1,076,958
+18,341
| +2% | +$1.63M |
|
|
HOLI
36
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
| $101M | 0.43% |
4,531,409
+376,294
| +9% | +$8.68M |
|
37
US Bancorp
USB
$96.7B
| $81M | 0.34% |
1,511,316
+149,779
| +11% | +$8.06M |
|
38
Visa
V
$693B
| $79.8M | 0.34% |
699,583
-1,643,234
| -70% | -$181M |
|
39
Davis Select US Equity ETF
DUSA
$1.27B
| $65.6M | 0.28% |
2,803,000
+743,000
| +36% | +$16.8M |
|
40
Goldman Sachs
GS
$303B
| $65.5M | 0.28% |
257,264
+4,278
| +2% | +$1.05M |
|
|
VSA
41
VisionSys AI
VSA
$9.78M
| $65.2M | 0.28% |
1,739
+755
| +77% | +$27M |
|
42
ZTO Express
ZTO
$16.2B
| $63.9M | 0.27% |
4,029,153
-657,718
| -14% | -$10.4M |
|
|
NOAH
43
Noah Holdings
NOAH
$604M
| $63.3M | 0.27% |
1,368,557
-57,233
| -4% | -$2.36M |
|
44
Everest Group
EG
$14.2B
| $52M | 0.22% |
235,042
+4,301
| +2% | +$970K |
|
45
Angi Inc
ANGI
$200M
| $51.8M | 0.22% |
495,327
+79,127
| +19% | +$9.17M |
|
46
KKR & Co
KKR
$97.4B
| $50.9M | 0.22% |
2,417,341
+90,587
| +4% | +$1.82M |
|
|
QVCGA
47
DELISTED
QVC Group Inc Series A
QVCGA
| $50M | 0.21% |
42,161
-609
| -1% | -$706K |
|
48
State Street
STT
$51.4B
| $49.6M | 0.21% |
507,740
+9,913
| +2% | +$948K |
|
|
Y
49
DELISTED
Alleghany Corp
Y
| $47.6M | 0.2% |
79,789
+1,265
| +2% | +$722K |
|
50
TAL Education Group
TAL
$6.28B
| $46.4M | 0.2% |
1,561,180
-976,647
| -38% | -$29.7M |
|
Similar funds
Christopher Davis's Q4 2017 Portfolio in Review
As of Q4 2017, Christopher Davis held 148 positions worth $23.5B, up 0.2% from $23.5B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Christopher Davis withdrew a net $1.69B in Q4 2017, closing 5 positions and reducing 54 holdings. Its most notable exit was S&P Global, an estimated $28.2M position sold in full.
By sector, the portfolio is most concentrated in Financials at 40% of assets, up from 40% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Christopher Davis opened a new position in Delphi Technologies PLC Ordinary Shares worth $37M.
- Christopher Davis's largest Q4 2017 buy was Delphi Technologies PLC Ordinary Shares: 704,943 shares worth $37M.
- Christopher Davis added most to Alibaba in Q4 2017, an estimated $526M increase.
- Christopher Davis's biggest Q4 2017 reduction was Praxair Inc, cutting an estimated $376M.
- Christopher Davis fully exited S&P Global in Q4 2017, selling an estimated $28.2M.
- Christopher Davis's ten largest holdings make up 51% of its $23.5B portfolio in Q4 2017.
- Christopher Davis opened 5 new positions and closed 5 in Q4 2017.
- Christopher Davis's portfolio value rose 0.2% quarter-over-quarter to $23.5B.
Based on Davis Selected Advisers's 13F filing for Q4 2017, filed 13 Feb 2018.