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 |
New Oriental
EDU
|
+$135M |
| 2 |
Applied Materials
AMAT
|
+$90.7M |
| 3 |
CVS Health
CVS
|
+$84.4M |
| 4 |
Quest Diagnostics
DGX
|
+$62.4M |
| 5 |
iShares S&P 500 Value ETF
IVE
|
+$55M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$933M |
| 2 |
SHPG
Shire pic
SHPG
|
+$297M |
| 3 |
GE Aerospace
GE
|
+$119M |
| 4 |
APA Corp
APA
|
+$43.2M |
| 5 |
ESRX
Express Scripts Holding Company
ESRX
|
+$36.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 42.47% |
| 2 | Communication Services | 13.64% |
| 3 | Consumer Discretionary | 11.91% |
| 4 | Industrials | 10.18% |
| 5 | Technology | 7.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Kinetik
KNTK
$4.38B
| $15.5M | 0.09% |
+200,000
| New | +$18.2M |
|
|
HPP
77
Hudson Pacific Properties
HPP
$787M
| $15.2M | 0.09% |
74,957
+18,540
| +33% | +$3.96M |
|
78
Owens Corning
OC
$11.7B
| $14.8M | 0.08% |
+337,051
| New | +$16.3M |
|
79
Crown Castle
CCI
$32.1B
| $14.6M | 0.08% |
134,350
+4,432
| +3% | +$487K |
|
80
Rexford Industrial Realty
REXR
$8.3B
| $14.2M | 0.08% |
481,170
+16,450
| +4% | +$521K |
|
81
Liberty Latin America Class C
LILAK
$1.64B
| $14.2M | 0.08% |
1,135,419
-24,556
| -2% | -$379K |
|
|
ACC
82
DELISTED
American Campus Communities, Inc.
ACC
| $14.1M | 0.08% |
340,914
+30,762
| +10% | +$1.28M |
|
83
SAP
SAP
$252B
| $14.1M | 0.08% |
141,765
-1,149
| -0.8% | -$122K |
|
84
UnitedHealth
UNH
$350B
| $14M | 0.08% |
56,308
+1,940
| +4% | +$512K |
|
85
Baidu
BIDU
$31.6B
| $14M | 0.08% |
88,065
-31,076
| -26% | -$5.8M |
|
86
Acadia Realty Trust
AKR
$2.89B
| $13.9M | 0.08% |
583,100
+49,873
| +9% | +$1.37M |
|
87
Regency Centers
REG
$13.9B
| $13.7M | 0.08% |
232,840
+19,680
| +9% | +$1.23M |
|
88
Terreno Realty
TRNO
$7.43B
| $13.6M | 0.08% |
385,467
+12,912
| +3% | +$482K |
|
89
Alexandria Real Estate Equities
ARE
$9.21B
| $13.5M | 0.08% |
116,997
+10,500
| +10% | +$1.28M |
|
|
CTRA
90
DELISTED
Coterra Energy
CTRA
| $13.1M | 0.07% |
579,300
-48,674
| -8% | -$1.17M |
|
91
Trip.com Group
TCOM
$29B
| $13.1M | 0.07% |
483,248
+81,700
| +20% | +$2.49M |
|
92
Federal Realty Investment Trust
FRT
$10.1B
| $12.9M | 0.07% |
109,640
+9,238
| +9% | +$1.16M |
|
93
Cousins Properties
CUZ
$4.89B
| $12.7M | 0.07% |
402,875
+34,996
| +10% | +$1.17M |
|
94
ZTO Express
ZTO
$16.2B
| $11.6M | 0.06% |
733,772
+135,150
| +23% | +$2.18M |
|
|
LEXEA
95
DELISTED
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
| $11.1M | 0.06% |
283,924
-6,610
| -2% | -$275K |
|
|
AZUL
96
DELISTED
Azul
AZUL
| $10.3M | 0.06% |
373,176
-29,112
| -7% | -$709K |
|
97
Host Hotels & Resorts
HST
$15.9B
| $9.65M | 0.05% |
579,120
+12,319
| +2% | +$231K |
|
98
Brixmor Property Group
BRX
$8.99B
| $8.93M | 0.05% |
607,630
+49,159
| +9% | +$775K |
|
99
Extra Space Storage
EXR
$31B
| $8.67M | 0.05% |
95,780
+7,843
| +9% | +$713K |
|
100
Vornado Realty Trust
VNO
$7.07B
| $8.62M | 0.05% |
138,960
+1,758
| +1% | +$120K |
|
Similar funds
Christopher Davis's Q4 2018 Portfolio in Review
As of Q4 2018, Christopher Davis held 148 positions worth $17.9B, down 23% from $23.3B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Christopher Davis withdrew a net $1.05B in Q4 2018, closing 11 positions and reducing 50 holdings. Its most notable exit was Aetna Inc, an estimated $933M position sold in full.
By sector, the portfolio is most concentrated in Financials at 42% of assets, up from 41% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Christopher Davis opened a new position in CVS Health worth $74M.
- Christopher Davis's largest Q4 2018 buy was CVS Health: 1,130,059 shares worth $74M.
- Christopher Davis added most to New Oriental in Q4 2018, an estimated $135M increase.
- Christopher Davis's biggest Q4 2018 reduction was Shire pic, cutting an estimated $297M.
- Christopher Davis fully exited Aetna Inc in Q4 2018, selling an estimated $933M.
- Christopher Davis's ten largest holdings make up 52% of its $17.9B portfolio in Q4 2018.
- Christopher Davis opened 9 new positions and closed 11 in Q4 2018.
- Christopher Davis's portfolio value fell 23% quarter-over-quarter to $17.9B.
Based on Davis Selected Advisers's 13F filing for Q4 2018, filed 12 Feb 2019.