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 | |
|---|---|---|---|---|---|---|
101
iShares Russell 3000 ETF
IWV
$20.2B
| $7.95M | 0.04% |
+54,132
| New | +$8.6M |
|
|
COR
102
DELISTED
Coresite Realty Corporation
COR
| $7.63M | 0.04% |
87,510
+47,203
| +117% | +$4.58M |
|
|
BDN
103
Brandywine Realty Trust
BDN
$522M
| $7.44M | 0.04% |
577,831
+50,972
| +10% | +$720K |
|
104
Ventas
VTR
$47.7B
| $7.25M | 0.04% |
+123,650
| New | +$7.29M |
|
|
LTRPA
105
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
| $6.4M | 0.04% |
402,640
-9,170
| -2% | -$147K |
|
106
Equity Lifestyle Properties
ELS
$12.7B
| $5.91M | 0.03% |
121,700
+64,374
| +112% | +$3.11M |
|
107
Sun Communities
SUI
$14.8B
| $5.83M | 0.03% |
57,330
+30,369
| +113% | +$3.09M |
|
108
SL Green Realty
SLG
$4.07B
| $5.72M | 0.03% |
74,739
-27,698
| -27% | -$2.45M |
|
|
ROIC
109
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $5.6M | 0.03% |
352,915
-389,666
| -52% | -$6.85M |
|
|
LSI
110
DELISTED
Life Storage, Inc.
LSI
| $5.51M | 0.03% |
88,935
+4,470
| +5% | +$283K |
|
111
Healthpeak Properties
DOC
$14.8B
| $5.32M | 0.03% |
190,586
-273,999
| -59% | -$7.58M |
|
|
LPT
112
DELISTED
Liberty Property Trust
LPT
| $5.28M | 0.03% |
+126,070
| New | +$5.44M |
|
113
Kimco Realty
KIM
$16.1B
| $4.44M | 0.02% |
302,960
-158,712
| -34% | -$2.49M |
|
114
CubeSmart
CUBE
$9.21B
| $4.15M | 0.02% |
144,650
+7,259
| +5% | +$213K |
|
115
Ryman Hospitality Properties
RHP
$8.86B
| $3.24M | 0.02% |
48,650
+15,275
| +46% | +$1.15M |
|
116
American Homes 4 Rent
AMH
$12.4B
| $3.12M | 0.02% |
157,170
-114,216
| -42% | -$2.34M |
|
117
Invitation Homes
INVH
$17.9B
| $2.87M | 0.02% |
142,970
-115,204
| -45% | -$2.47M |
|
118
EastGroup Properties
EGP
$10.8B
| $2.66M | 0.01% |
29,020
-70,464
| -71% | -$6.8M |
|
119
Mid-America Apartment Communities
MAA
$15.2B
| $2.57M | 0.01% |
26,870
-21
| -0.1% | -$2.08K |
|
120
First Industrial Realty Trust
FR
$8.34B
| $2.34M | 0.01% |
80,950
-295,510
| -78% | -$9.14M |
|
121
Macerich
MAC
$6.91B
| $2.32M | 0.01% |
+53,610
| New | +$2.65M |
|
122
Costco
COST
$420B
| $1.56M | 0.01% |
7,680
-5,800
| -43% | -$1.3M |
|
123
Novartis
NVS
$302B
| $1.33M | 0.01% |
17,249
-158,602
| -90% | -$12.3M |
|
|
WUBA
124
DELISTED
58.com Inc
WUBA
| $1.25M | 0.01% |
23,150
+4,800
| +26% | +$293K |
|
|
CTT
125
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
| $1.08M | 0.01% |
151,604
-63,035
| -29% | -$562K |
|
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.